Economist Job Description

November 26, 20110 Comments

Economist Job Profile and Description

The Economists are generally employed in the financial agencies, Federal Reserve banks, and stock exchanges. They are the specialist in the field and have a through firm understanding of the economic forces taking place in a region or country and it is greatly valued by politicians, industrialists and consumers. The main responsibility is to conduct the regular research to identify the latest trends. He or she has to formulate the models. The economist has the duty to adopt the economic policies and enterprises in developing products and services.

Duties and Responsibilities

There are the following duties and responsibilities of an economist which have to be fulfilled:

  • The economist has the prime responsibility to conduct the continue research on the GNP or GDP.
  • It is needed to research about the elements, population growth and shift trends, currency movements, consumer spending trends, housing developments.
  • He or she has to study about the durable goods production, import and export trends and other factors that determine economic health of a nation.
  • The duty includes developing the econometric models that can forecast economic behavior and patterns properly as it is the job of an economist.
  • He or she has to analyze the local and global macro and micro economic activities properly.
  • It will be the responsibility to make sure the sustainable growth.
  • The economist has to provide the advice to the decision makers on adopting the prudent fiscal policies to manage and stimulate economic activities.
  • The economist also needs to examine the problems properly related to the economic activity.
  • The economist also needs to forecast the production and consumption of renewable resources.
  • He or she has to do the overall studies of the supply, consumption and depletion of non-renewable resources.

Skills and Specifications

The required skills and specifications are as follows:

  • The person must have the ability to see the big picture or macro-economics.
  • He or she should be able to put a keen eye for the details in analyzing micro-economics.
  • The person needs to be very patient to handle the stressful job.
  • He or she should be able to work under pressure and for the long hours with a high deal of computational accuracy.
  • The person must be able to work in the compliance of the deadlines and work under pressure.
  • The person needs to have the team working skills with the interpersonal skills to establish and maintain the effective working relationships.
  • He or she should be a strong communicator and should have the skills both verbal and written.

Education and Qualifications

  • The basic degree required to do the job is a college degree in economics and business management with a good training in statistics and econometrics.
  • The person needs to have the past 2-3 year of working experience in market analyst and accounting firms or a similar position in another company.
  • It will be an added advantage for the person having a post graduate education in business administration and economics.

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