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National

Median wages (2008) $40.19 hourly, $83,590 annual
Employment (2006) 15,000 employees
Projected growth (2006-2016) Average (7% to 13%)
Projected need (2006-2016) 5,000 additional employees
19-3011.00 - Economists

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.

Sample of reported job titles: Economist, Economic Analyst, Economic Consultant, Project Economist, Forensic Economist, Health Researcher, Research Analyst, Economic Analysis Director, Economic Development Specialist, Revenue Research Analyst

Also see: Environmental Economists

Tasks

  • Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
  • Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.
  • 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.
  • Supervise research projects and students' study projects.
  • Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources.
  • Teach theories, principles, and methods of economics.

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Tools & Technology

Tools used in this occupation:

Desktop computers
Mainframe computers — Maintrame computers
Notebook computers — Laptop computers
Personal computers
Scanners — Data scanners

Technology used in this occupation:

Analytical or scientific software — SAS software; The Mathworks MATLAB; Timberlake Consultants OxMetrics; TreeAge Software TreeAge Pro
Development environment software — Formula translation/translator FORTRAN; Microsoft Visual Basic
Internet browser software — Microsoft Internet Explorer; Mozilla Firefox; Web browser software
Spreadsheet software — Corel QuattroPro; IBM Lotus 1-2-3; Microsoft Excel
Word processing software — Corel WordPerfect software; Microsoft Word
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