Public Administration & LegalISCO 2631
Economist
An economist is a person who conducts research and develops theory in economics, both microeconomic and macroeconomic analysis, and advises businesses, governments and related institutions on the strength of it.
Check yourself in a minute: economist
Rate 5 of the 44 essential skills of this occupation (European ESCO data). No account needed.
manage research data
interact professionally in research and professional environments
disseminate results to the scientific community
operate open source software
speak different languages
About economist
The work is analysis of what has happened and inference about what will. The economist analyses trends and statistical data, applies statistics and analytical mathematical calculations, and works to some extent with mathematical economic models.
Advice is given on specific questions: the feasibility of a product, forecast trends, emerging markets, tax policies and trends in consumption. The economist also communicates cost-benefit analysis reports, presenting results in a way that decision-makers without economic training can understand and act on.
Academic work runs alongside for those in research. The economist drafts scientific or academic papers and technical documentation, applies for research funding, promotes knowledge transfer and applies research ethics and scientific integrity principles. The role requires a good command of statistics, mathematics and research methods. Formal requirements are set by the employer, and economists work in research or advise businesses, governments and related institutions.
European Skills Framework
Skills and knowledge areas required for this occupation based on European classification.
Essential (44)
business management principlesbusiness management principlesPrinciples governing business management methods such as strategy planning, methods of efficient production, people and resources coordination.mathematical economicsmathematical economicsThe interdisciplinary field between mathematical methods and economics that deals with using math principles to contruct models for economic theory where conclusions can be drawn following a mathemati...mathematicsmathematicsMathematics is the study of topics such as quantity, structure, space, and change. It involves the identification of patterns and formulating new conjectures based on them. Mathematicians strive to pr...quantitative analysisquantitative analysisThe technique of employing statistical and mathematical modelling and measurement to represent a specific reality through numbers.statisticsstatisticsThe study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of ...economicseconomicsEconomic principles and practices, financial and commodity markets, banking and the analysis of financial data.political economypolitical economyThe field that combines political and economic factors in the analysis of modern societies. It focuses on factors such as production and trade and their relations with the law and the government.commercial lawcommercial lawThe legal regulations that govern a specific commercial activity.tax legislationtax legislationTax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.scientific research methodologyscientific research methodologyThe theoretical methodology used in scientific research involving doing background research, constructing an hypothesis, testing it, analysing data and concluding the results.empirical analysisempirical analysisThe evidence-based method that is used to analyse and interpret information with the aim of drawing conclusions about a specific issue.draft scientific or academic papers and technical documentationdraft scientific or academic papers and technical documentationDraft and edit scientific, academic or technical texts on different subjects.manage research datamanage research dataProduce and analyse scientific data originating from qualitative and quantitative research methods. Store and maintain the data in research databases. Support the re-use of scientific data and be fami...interact professionally in research and professional environmentsinteract professionally in research and professional environmentsShow consideration to others as well as collegiality. Listen, give and receive feedback and respond perceptively to others, also involving staff supervision and leadership in a professional setting.disseminate results to the scientific communitydisseminate results to the scientific communityPublicly disclose scientific results by any appropriate means, including conferences, workshops, colloquia and scientific publications.operate open source softwareoperate open source softwareOperate Open Source software, knowing the main Open Source models, licensing schemes, and the coding practices commonly adopted in the production of Open Source software.speak different languagesspeak different languagesMaster foreign languages to be able to communicate in one or more foreign languages.execute analytical mathematical calculationsexecute analytical mathematical calculationsApply mathematical methods and make use of calculation technologies in order to perform analyses and devise solutions to specific problems.apply statistical analysis techniquesapply statistical analysis techniquesUse models (descriptive or inferential statistics) and techniques (data mining or machine learning) for statistical analysis and ICT tools to analyse data, uncover correlations and forecast trends.evaluate research activitiesevaluate research activitiesReview proposals, progress, impact and outcomes of peer researchers, including through open peer review.demonstrate disciplinary expertisedemonstrate disciplinary expertiseDemonstrate deep knowledge and complex understanding of a specific research area, including responsible research, research ethics and scientific integrity principles, privacy and GDPR requirements, re...provide cost benefit analysis reportsprovide cost benefit analysis reportsPrepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment i...increase the impact of science on policy and societyincrease the impact of science on policy and societyInfluence evidence-informed policy and decision making by providing scientific input to and maintaining professional relationships with policymakers and other stakeholders.manage findable accessible interoperable and reusable datamanage findable accessible interoperable and reusable dataProduce, describe, store, preserve and (re) use scientific data based on FAIR (Findable, Accessible, Interoperable, and Reusable) principles, making data as open as possible, and as closed as necessar...perform scientific researchperform scientific researchGain, correct or improve knowledge about phenomena by using scientific methods and techniques, based on empirical or measurable observations.apply for research fundingapply for research fundingIdentify key relevant funding sources and prepare research grant application in order to obtain funds and grants. Write research proposals.analyse economic trendsanalyse economic trendsAnalyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.apply scientific methodsapply scientific methodsApply scientific methods and techniques to investigate phenomena, by acquiring new knowledge or correcting and integrating previous knowledge.conduct quantitative researchconduct quantitative researchExecute a systematic empirical investigation of observable phenomena via statistical, mathematical or computational techniques.apply research ethics and scientific integrity principles in research activitiesapply research ethics and scientific integrity principles in research activitiesApply fundamental ethical principles and legislation to scientific research, including issues of research integrity. Perform, review, or report research avoiding misconducts such as fabrication, falsi...promote open innovation in researchpromote open innovation in researchApply techniques, models, methods and strategies which contribute to the promotion of steps towards innovation through collaboration with people and organizations outside the organisation.publish academic researchpublish academic researchConduct academic research, in universities and research institutions, or on a personal account, publish it in books or academic journals with the aim of contributing to a field of expertise and achiev...promote the transfer of knowledgepromote the transfer of knowledgeDeploy broad awareness of processes of knowledge valorisation aimed to maximise the two–way flow of technology, intellectual property, expertise and capability between the research base and industry o...think abstractlythink abstractlyDemonstrate the ability to use concepts in order to make and understand generalisations, and relate or connect them to other items, events, or experiences.mentor individualsmentor individualsMentor individuals by providing emotional support, sharing experiences and giving advice to the individual to help them in their personal development, as well as adapting the support to the specific n...manage personal professional developmentmanage personal professional developmentTake responsibility for lifelong learning and continuous professional development. Engage in learning to support and update professional competence. Identify priority areas for professional developmen...write scientific publicationswrite scientific publicationsPresent the hypothesis, findings, and conclusions of your scientific research in your field of expertise in a professional publication.develop professional network with researchers and scientistsdevelop professional network with researchers and scientistsDevelop alliances, contacts or partnerships, and exchange information with others. Foster integrated and open collaborations where different stakeholders co-create shared value research and innovation...integrate gender dimension in researchintegrate gender dimension in researchTake into account in the whole research process the biological characteristics and the evolving social and cultural features of women and men (gender).perform project managementperform project managementManage and plan various resources, such as human resources, budget, deadline, results, and quality necessary for a specific project, and monitor the project's progress in order to achieve a specific g...manage open publicationsmanage open publicationsBe familiar with Open Publication strategies, with the use of information technology to support research, and with the development and management of CRIS (current research information systems) and ins...synthesise informationsynthesise informationCritically read, interpret, and summarise new and complex information from diverse sources.conduct research across disciplinesconduct research across disciplinesWork and use research findings and data across disciplinary and/or functional boundaries.communicate with a non-scientific audiencecommunicate with a non-scientific audienceCommunicate about scientific findings to a non-scientific audience, including the general public. Tailor the communication of scientific concepts, debates, findings to the audience, using a variety of...
Optional (36) — show
mathematical modellingmathematical modellingThe process of establishing a mathematical representation problem, such as equations, of a real-word to provide insights, discover new features about the problematic scenario, better understand the or...environmental economicsenvironmental economicsThe subfield of economics that studies the efficient allocation of environmental resources to the aim of minimizing the negative impacts on the natural environment.cryptocurrencycryptocurrencyDigital and encrypted currency or medium of exchange with decentralized network grounded on blockchain technology, since the value of the cryptocurrency is not managed or maintained by central authori...spatial planningspatial planningAn interdisciplinary field of study between engineering and social sciences. It refers to the planning of economic, environmental and social processes for specific aims. These processes are combined w...development economicsdevelopment economicsDevelopment economics is the branch of economics that deals with processes of socio-economic and institutional change in low-income, transition, and high-income countries. It involves the study of sev...financial forecastingfinancial forecastingThe tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.Monte Carlo simulationMonte Carlo simulationA mathematical technique used to predict, estimate, and analyse a range of future possible outcomes for an uncertain event. The process is performed through a simulation to estimate a range of values.project managementproject managementThe discipline of project management, the activities which comprise this area and the variables implied in it, such as time, resources, requirements, deadlines, and responding to unexpected events.sales promotion techniquessales promotion techniquesThe techniques used to persuade customers to purchase a product or a service.international businessinternational businessThe processes related to production or distribution of goods and services across borders.accounting techniquesaccounting techniquesThe techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.game theorygame theoryThe study of mathematical models of strategic decisions among stakeholders. It has applications in all fields of social science, as well as in systems science, computer science and logic. Essential co...financial marketsfinancial marketsThe financial infrastructure which permits trading securities offered by companies and individuals govern by regulatory financial frameworks.business analyticsbusiness analyticsThe disciplines and technologies for solving business problems through employing quantitative methods such as data analysis and statistical models.financial analysisfinancial analysisThe process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financ...fundamental analysisfundamental analysisThe techniques for measuring the intrinsic value of a financial security through the assessment its economic and financial factors. It combines together the analysis of macroeconomic trends and of fin...market analysismarket analysisThe field of market analysis and research and its particular research methods.content marketing strategycontent marketing strategyThe process of creation and share of media and publishing content in order to acquire customers.civil lawcivil lawThe legal rules and their applications used in disputes between different parties.international import export regulationsinternational import export regulationsThe principles that govern the import and export of products and equipment, trade restrictions, health and safety measures, licenses, etc.economic anthropologyeconomic anthropologyThe academic field that studies the interrelationship between human societies and their economic systems. Discipline that examines economic activities in society and the processes of consumption, prod...public administrationpublic administrationThe field where policy acts to pursue the improvement of public goods and produce beneficial changes in societies. Includes the set of public entities and bodies that serve the public interest, within...public lawpublic lawThe part of law which governs relationships between individuals and the government, and the relationships between individuals which concern society directly.write research proposalswrite research proposalsSynthetise and write proposals aiming to solve research problems. Draft the proposal baseline and objectives, the estimated budget, risks and impact. Document the advances and new developments on the ...analyse market financial trendsanalyse market financial trendsMonitor and forecast the tendencies of a financial market to move in a particular direction over time.advise on economic developmentadvise on economic developmentAdvise organisations and institutions on the factors and steps they could take which would promote and ensure economic stability and growth.use business simulation toolsuse business simulation toolsEmploy software to perform simulations to improve business skills such as business acumen, financial and market analysis and decision making.teach in academic or vocational contextsteach in academic or vocational contextsInstruct students in the theory and practice of academic or vocational subjects, transferring the content of own and others' research activities.conduct public surveysconduct public surveysConduct the procedures of a public survey from the initial formulation and compilation of the questions, identifying the target audience, managing the survey method and operations, managing the proces...perform public relationsperform public relationsPerform public relations (PR) by managing the spread of information between an individual or an organisation and the public.develop scientific theoriesdevelop scientific theoriesFormulate scientific theories based on empirical observations, gathered data and theories of other scientists.develop economic policiesdevelop economic policiesDevelop strategies for economic stability and growth in an organisation, nation, or internationally, and for the improvement of trade practices and financial procedures.analyse financial performance of a companyanalyse financial performance of a companyAnalyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external informati...apply blended learningapply blended learningBe familiar with blended learning tools by combining traditional face-to-face and online learning, using digital tools, online technologies, and e-learning methods.assess risk factorsassess risk factorsDetermine the influence of economical, political and cultural risk factors and additional issues.forecast economic trendsforecast economic trendsGather and analyse economic data in order to predict economic trends and events.
Related Occupations
Occupations that need many of the same essential skills, so the move between them is shortest.
statistician35 shared essential skillsdemographer34 shared essential skillsanalytical chemist33 shared essential skillsastronomer33 shared essential skillsgeologist33 shared essential skillsmathematician33 shared essential skillsoceanographer33 shared essential skillsphysicist33 shared essential skills
Frequently asked questions
What does an economist do?
Economists perform research and develop theories in the field of economics, whether for microeconomic or macroeconomic analysis. They study trends, analyse statistical data, and to some extent work with economic mathematical models in order to advise companies, governments, and related institutions. They advise on product feasibility, trend forecasts, emerging markets, tax policies, and consumer trends.
What skills does an economist need?
An economist needs 44 essential skills, including business management principles, mathematical economics, mathematics, quantitative analysis, statistics.
Will AI replace economist jobs?
The AI disruption score for economist is 81/100 (very high risk). Skills most exposed to automation: provide cost benefit analysis reports, accounting techniques, draft scientific or academic papers and technical documentation. Most resilient: mentor individuals, interact professionally in research and professional environments, develop professional network with researchers and scientists.
AI Replacement Risk
81/ 100
Very High Risk
Low riskHigh risk
Skills most at risk from AI
Skills resilient to automation
This is the average for the whole occupation. The AI Career Shield test (about 10 minutes) shows the risk in your own work and what you can do about it.
Check your own AI riskQuick Facts
ISCO GroupLegal, social and cultural professionals
Essential Skills44
Is economist right for you?
Take the free 10-minute Career Portrait to see which career direction fits your motivations and strengths.
Take the free test