Occupation Details
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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Interests
Investigative
Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Enterprising
Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Conventional
Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Work Values
Achievement
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Working Conditions
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Independence
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Salary & Job Outlook
Starting Salary
$79,460.00
New York StateMedian Salary
$130,750.00
New York StateExperienced Salary
$193,160.00
New York StateNational Average for Comparison
New York State Job Market Outlook
Jobs Right Now (2018)
940
professionals in NYFuture Job Growth (2030)
1,150
+21 jobs/yearNew Jobs Every Year
93
new opportunities yearlyGrowth Rate
0.2%
projected increasePreparation: Experience, Training, and Education
The list below outlines the prior educational experience required to perform in this occupation.
More School - Graduate or advanced degree
Experience Requirements
Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.
Education Requirements
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).
Training Details
Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.
Transferrable Skills and Experience
These occupations often involve coordinating, training, supervising, or managing the activities of others to accomplish goals. Very advanced communication and organizational skills are required. Examples include pharmacists, lawyers, astronomers, biologists, clergy, physician assistants, and veterinarians.
School Programs
The following lists school programs which are applicable to this occupation.
Licensing & Certification
State License and Certifications Requirements are not currently associated with this occupation.
Skills
The list below includes the skills required by workers in this occupation; skills are what allow you to learn more quickly and improve your performance.
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Mathematics
Using mathematics to solve problems.
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.
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Speaking
Talking to others to convey information effectively.
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Active Learning
Understanding the implications of new information for both current and future problem-solving and decision-making.
Complex Problem Solving
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Skill level is measured on a seven point scale, where one means 'some competence required for this occupation' and seven means 'a high level of expertise required for this occupation'.
Knowledge
The list below includes knowledge items, the principles and facts required by this occupation.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
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.
Knowledge level is measured on a seven point scale, where one means 'some competence required for this occupation' and seven means 'a high level of expertise required for this occupation'.
Work Environment
The list below includes the physical and social factors that influence the nature of work in this occupation.
Hover over or tap each factor to see its description.
Work Styles
Included in the list below are the personal work style characteristics that can affect how well a worker is likely to perform in this occupation.
Achievement/Effort
Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Analytical Thinking
Job requires analyzing information and using logic to address work-related issues and problems.
Attention to Detail
Job requires being careful about detail and thorough in completing work tasks.
Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Independence
Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
Initiative
Job requires a willingness to take on responsibilities and challenges.
Innovation
Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
Integrity
Job requires being honest and ethical.
Persistence
Job requires persistence in the face of obstacles.
Stress Tolerance
Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
Tools & Technology
This list below describes the machines, equipment, tools, software, and information technology that workers in this occupation will use.
Tools
- 10-key calculators
- Data scanners
- Desktop computers
- Laptop computers
- Maintrame computers
Technology
- Aptech Systems GAUSS
- C++
- Camfit Data Limited Microfit
- Corel QuattroPro
- Corel WordPerfect Office Suite
- ESRI ArcView
- Estimates Delivery System EDS
- Formula translation/translator FORTRAN
- Global Insight AREMOS
- IBM Lotus 1-2-3
- Insightful S-PLUS
- LaTeX
- Mathsoft Mathcad
- MediaWiki
- Microsoft Access
- Microsoft Excel
Duties
Duties are job behaviors describing activities that occur on multiple jobs. The generalized and detailed work activities described in the list below apply to this occupation.
- prepare reports
- prepare technical reports or related documentation
- monitor consumer or marketing trends
- direct and coordinate scientific research or investigative studies
- direct and coordinate activities of workers or staff
- advise clients or customers
- provide expert testimony on research results
- recommend further study or action based on research data
- advise governmental or industrial personnel
- write research or project grant proposals
- write business project or bid proposals
- develop policies, procedures, methods, or standards
- develop plans for programs or projects
- communicate technical information
- make presentations
- plan surveys of specified group or area
- plan scientific research or investigative studies
- teach college level courses
- confer with research personnel
- explain complex mathematical information
- interpret charts or tables for social or economic research
- write scholarly or technical research papers
- recognize interrelationships among individuals or social groups
- recognize interrelationships among social statistics or indicators
- follow confidentiality procedures
- use current social research
- use knowledge of economic trends
- use interviewing procedures
- use labor market information
- use oral or written communication techniques
- use scientific research methodology
- use teaching techniques
- learn trends in world trade
- maintain awareness of social trends
- use building or land use regulations
- use public speaking techniques
- use knowledge of investigation techniques
- use mathematical or statistical methods to identify or analyze problems
- use quantitative research methods
- use library or online Internet research techniques
- create mathematical or statistical diagrams or charts
- develop scientific or mathematical hypotheses, theories, or laws
- collect scientific or technical data
- collect statistical data
- collect social or personal information
- compile numerical or statistical data
- develop tables depicting data
- use computers to enter, access or retrieve data
- use relational database software
- use spreadsheet software
- use word processing or desktop publishing software
- develop or maintain databases
- analyze scientific research data or investigative findings
- perform statistical modeling
- conduct field research or investigative studies
- conduct market research
- analyze social or economic data
- forecast or predict phenomena based upon research data
Tasks
The list below outlines specific tasks that a worker in this occupation is called upon to do regularly.
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Supervise research projects and students' study projects.
- Teach theories, principles, and methods of economics.
- Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
- Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
- Explain economic impact of policies to the public.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
- Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.
- 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.
- Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
Learning Resources
More information on this occupation may be found in the links provided below.
Discovery Channel School's Lesson Plans Library
View the list of brand-new lesson plans for elementary, middle and high school students. Lesson plans include the sciences, mathematics and technology. Hundreds of original lesson plans, all written by teachers for teachers are easily accessible. Use the pull-down menus to browse by subject, grade, or both.
Learn MoreEconomists and market and survey researchers
Visit this link for additional information on this career from the Occupational Outlook Handbook; a publication produced and maintained by the United States Department of Labor.
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