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Career: Economists

Job Description

Conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services. May collect and process economic and statistical data using econometric and sampling techniques.


Job Tasks

Importance %age

Task Description
97
Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
96
Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
87
Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
83
Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
72
Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.
57
Supervise research projects and students' study projects.
44
Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations based on cost-benefit analyses.
36
Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources.
35
Teach theories, principles, and methods of economics.

Work Activities

Importance %age

Activity Description
83
Analyzing Data or Information
  • Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
    		•
    80
    		Processing Information
  • Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
    		•
    79
    		Updating and Using Relevant Knowledge
  • Keeping up-to-date technically and applying new knowledge to your job.
    		•
    78
    		Getting Information
  • Observing, receiving, and otherwise obtaining information from all relevant sources.
    		•
    75
    		Communicating with Supervisors, Peers, or Subordinates
  • Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
    		•
    75
    		Communicating with Persons Outside Organization
  • Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
    		•
    74
    		Making Decisions and Solving Problems
  • Analyzing information and evaluating results to choose the best solution and solve problems.
    		•
    72
    		Thinking Creatively
  • Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
    		•
    72
    		Interpreting the Meaning of Information for Others
  • Translating or explaining what information means and how it can be used.
    		•
    69
    		Establishing and Maintaining Interpersonal Relationships
  • Developing constructive and cooperative working relationships with others, and maintaining them over time.
    		•
    68
    		Provide Consultation and Advice to Others
  • Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
    		•
    68
    		Organizing, Planning, and Prioritizing Work
  • Developing specific goals and plans to prioritize, organize, and accomplish your work.
    		•
    60
    		Estimating the Quantifiable Characteristics of Products, Events, or Information
  • Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
    		•
    58
    		Identifying Objects, Actions, and Events
  • Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
    		•
    55
    		Developing Objectives and Strategies
  • Establishing long-range objectives and specifying the strategies and actions to achieve them.
    		•
    52
    		Evaluating Information to Determine Compliance with Standards
  • Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
    		•
    52
    		Judging the Qualities of Things, Services, or People
  • Assessing the value, importance, or quality of things or people.
    		•
    51
    		Documenting/Recording Information
  • Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
    		•
    51
    		Interacting With Computers
  • Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
    		•
    51
    		Scheduling Work and Activities
  • Scheduling events, programs, and activities, as well as the work of others.
    		•
    50
    		Selling or Influencing Others
  • Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
    		•
    47
    		Training and Teaching Others
  • Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
    		•
    47
    		Resolving Conflicts and Negotiating with Others
  • Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
    		•
    47
    		Coaching and Developing Others
  • Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
    		•
    46
    		Coordinating the Work and Activities of Others
  • Getting members of a group to work together to accomplish tasks.
    		•
    43
    		Monitor Processes, Materials, or Surroundings
  • Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
    		•
    39
    		Performing Administrative Activities
  • Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
    		•
    37
    		Guiding, Directing, and Motivating Subordinates
  • Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
    		•
    35
    		Performing for or Working Directly with the Public
  • Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
    		•
    35
    		Developing and Building Teams
  • Encouraging and building mutual trust, respect, and cooperation among team members.
    		•
    34
    		Monitoring and Controlling Resources
  • Monitoring and controlling resources and overseeing the spending of money.
    		•
    20
    		Staffing Organizational Units
  • Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.
    		•
    16
    		Assisting and Caring for Others
  • Providing personal assistance, medical attention, emotional support, or other personal care to others such as coworkers, customers, or patients.
    		•
    8
    		Handling and Moving Objects
  • Using hands and arms in handling, installing, positioning, and moving materials, and manipulating things.
    		•
    6
    		Repairing and Maintaining Electronic Equipment
  • Servicing, repairing, calibrating, regulating, fine-tuning, or testing machines, devices, and equipment that operate primarily on the basis of electrical or electronic (not mechanical) principles.
    		•
    5
    		Inspecting Equipment, Structures, or Material
  • Inspecting equipment, structures, or materials to identify the cause of errors or other problems or defects.
    		•
    3
    		Controlling Machines and Processes
  • Using either control mechanisms or direct physical activity to operate machines or processes (not including computers or vehicles).
    		•
    3
    		Performing General Physical Activities
  • Performing physical activities that require considerable use of your arms and legs and moving your whole body, such as climbing, lifting, balancing, walking, stooping, and handling of materials.
    		•
    3
    		Operating Vehicles, Mechanized Devices, or Equipment
  • Running, maneuvering, navigating, or driving vehicles or mechanized equipment, such as forklifts, passenger vehicles, aircraft, or water craft.
    		•
    2
    		Repairing and Maintaining Mechanical Equipment
  • Servicing, repairing, adjusting, and testing machines, devices, moving parts, and equipment that operate primarily on the basis of mechanical (not electronic) principles.
    		•
    1
    		Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment
  • Providing documentation, detailed instructions, drawings, or specifications to tell others about how devices, parts, equipment, or structures are to be fabricated, constructed, assembled, modified, maintained, or used.
    		•
    
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