Economists

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This occupation is part of the Life, Physical, and Social Science cluster

About the Job

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.

It is also Called

  • Agricultural Economist
  • Business Economist
  • Econometrician
  • Economic Adviser
  • Economic Analysis Director
  • Economic Analyst
  • Economic Consultant
  • Economic Developer
  • Economic Development Specialist
  • Economic Research Analyst

What They Do

  • Supervise research projects and students' study projects.
  • Teach theories, principles, and methods of economics.
  • Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
  • 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.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
  • Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.
  • Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.
  • Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources.

Interests

People who work in this occupation generally have the interest code: ICE.

This means people who work in this occupation generally have Investigative interests, but also prefer Conventional and Enterprising environments.

Work Values

People who work in this occupation generally prize Working Conditions, but also value Independence and Achievement in their jobs.

Things They Need to Know

  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

Things They Need to Be Able to Do

  • Speaking - Talking to others to convey information effectively.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Mathematics - Using mathematics to solve problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Education Required

Most of these occupations require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).

Wages

In 2012, the average annual wage in California was $104,140.00 with most people making between $54,710.00 and $168,030.00

Outlook

2.40%
avg. annual growth

During 2010, this occupation employed approximately 2,500 people in California. It is projected that there will be 3,100 employed in 2020.

This occupation will have about 60 openings due to growth and about 80 replacement openings for approximately 140 total annual openings.

Common College Majors

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