What Do Economists Do: Job Description, Responsibilities and Duties

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daily life of an Economist
are Economists happy with their job

Economists

Other names for this job might include Agricultural Economist, Business Economist, Econometrician, Economic Adviser, Economic Analysis Director, Economic Analyst, Economic Consultant, Economic Developer, Economic Development Specialist, Economic Research Analyst


  • $109230
    Salary
  • 76%
    Job satisfaction
  • Hard
    Becoming one
  • High
    Job growth
OwlGuru Rank

A



Being An Economist: What You Really Do


In this job description guide, you will find out what do Economists do and what is their typical work day like.

After reading this, you will have a much better idea on whether you will like working as an Economist or not.



Job summary

Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

We asked Economists how satisfied they are with their job. Here is what they said.

Job satisfaction

76%

How meaningful is this job

54%


76% of them said they were satisfied with their job and 54% said they find that their job makes the world a better place or helps to make someone else’s life better.



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Typical day

On a daily basis, Economists Study economic and statistical data in area of specialization, such as finance, labor, or agriculture. They Teach theories, principles, and methods of economics.

1 of the main responsibilities as An Economist is to Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.

A typical day for An Economist look like this:

Review professional literature to maintain professional knowledge.
Instruct college students in social sciences or humanities disciplines.
Prepare scientific or technical reports or presentations.

We asked some Economists a few questions to find out what else does their work day look like. Here is what we found.

Do you have telephone conversations everyday in this job?42% said yes
Do you have to use email everyday in this job?100% said yes
How important is it to work in a team in this job?8% said very important
Do you have group discussions everyday in this job?63% said yes
Do you have to meet strict deadlines everyday in this job?29% said yes
Do you talk or work with customers everyday in this job?4% said yes
Do you have to deal with angry customers everyday in this job?0% said yes
Do you have to make decisions everyday in this job?21% said yes



Other responsibilities

Besides the “typical day” things that Economists do, they Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques. They might also Supervise research projects and students’ study projects.

A typical week or month for them might include:

Forecast economic, political, or social trends.
Supervise trainees.



Working life

Working hours

More than 40 hours per week

Working schedule

Regular (Set schedule and routine)


In a typical work week as An Economist, you can expect to work More than 40 hours per week.

Do Economists work in an office-style work environment?

Everyday
75%

Once a week
8.33%

Once a month
0%

Once a year
4.17%

Never
12.5%

Do Economists work in a warehouse-style work environment?

Everyday
0%

Once a week
8.33%

Once a month
4.17%

Once a year
8.33%

Never
79.17%

Do Economists work outdoors?

Everyday
0%

Once a week
0%

Once a month
0%

Once a year
20.83%

Never
79.17%



Is this right for me

Best personality for this career

The Thinkers and The Organizers


You can read more about these career personality types here.

You will like this career if you are someone who likes working with ideas, and require an extensive amount of thinking. They like searching for facts and figuring out problems mentally.

You also like following set procedures and routines. They like working with data and details more than with ideas.



How we can help

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Is This Right For Me

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Related to Economists Job Description

Economists job description, what do Economists do, typical day for Economists, what is it like to work as an Economist, how many hours do Economists work, day to day work of an Economist

Additional resources

http://www.bls.gov/OOH/life-physical-and-social-science/economists.htm
https://www.aeaweb.org/
http://www.nabe.com/

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Economists
Written by: Stanley Tan
Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.
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