Economists

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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

  • Trade Economist
  • Tax Economist
  • Social Economist
  • Revenue Research Analyst
  • Research Analyst
  • Regional Economist
  • Project Economist
  • Professor of Economics
  • Professor
  • Price Economist
show all

What They Do

  • Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
  • 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.
  • Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.
  • 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.
  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
  • Supervise research projects and students' study projects.
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
  • Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.

Interests

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

This means people who work in this occupation generally have Conventional interests, but also prefer Artistic 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.

Preparation 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 2016, the average annual wage in California was $119,650 with most people making between $51,230 and $198,540

Outlook

3.04%
avg. annual growth

During 2014, this occupation employed approximately 2,300 people in California. It is projected that there will be 3,000 employed in 2024.

This occupation will have about 70 openings due to growth and about 60 replacement openings for approximately 130 total annual openings.