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.
SOC: 19-3011.00
Common Job Titles
Economic AnalystEconomic ConsultantEconomistForensic Economist
What You'll Need to Succeed
AI-generatedKey competencies for this occupation at a glance
- KnowledgeAnalyze economic and statistical data using econometric methods and sampling techniques working independently with statistical software such as Stata, R, SAS, or Python to address production and distribution problems.Advanced
- KnowledgeEvaluate monetary and fiscal policy implications for economic systems considering multiple stakeholder perspectives and complex regulatory constraints.Advanced
- KnowledgeFormulate strategic plans and policy recommendations to address economic challenges synthesizing quantitative analysis with qualitative insights for government agencies or private organizations.Advanced
- KnowledgeInterpret complex mathematical models and quantitative findings for non-technical audiences through written reports, presentations, and consultation with external stakeholders.Advanced
- KnowledgeDesign research methodologies for collecting and processing economic information ensuring validity and reliability in data collection under resource and time constraints.Advanced
- KnowledgeDevelop quantitative models and forecasts to estimate characteristics of economic products and events working with databases using SQL and managing large datasets across multiple platforms.Advanced
- KnowledgeApply advanced mathematical and statistical techniques including regression analysis and time series modeling using tools such as MATLAB, SPSS, or EViews to forecast economic trends.Proficient
- KnowledgeAssess the impact of market trends, regulatory changes, and global events on economic outcomes integrating knowledge of economics, accounting, law, and government within interdisciplinary teams.Proficient
- MindsetAdvocate for evidence-based policy decisions to government officials, business leaders, and the public when communicating findings that may challenge prevailing assumptions or political preferences.Proficient
- KnowledgeSynthesize information from diverse sources including historical data, geographic patterns, and sociological trends to update knowledge continuously and maintain relevance in a rapidly evolving field.Proficient
- KnowledgeExplain economic concepts, theories, and empirical findings through teaching and training in academic, government, or corporate settings to build capacity in economic analysis.Proficient
- MindsetEngage with supervisors, peers, and external clients to coordinate economic research projects establishing and maintaining interpersonal relationships within collaborative environments.Developing
Wage Data According to the Bureau of Labor Statistics
Annual wage data for Economists (2024)
Estimated Total Employment (U.S.)
15,880
Wage Distribution by Percentile
| Metric | U.S. |
|---|---|
| 10% of workers earn the following or less | $62,340 |
| 10% of workers earn the following or more | $212,710 |
| Workers on average earn | $130,910 |
+ indicates wage is at or above the BLS reporting cap ($239,200/year)
Skills & Requirements
Key competencies for this occupation, ranked by importance
- Mathematics4.5/5
- Economics and Accounting4.5/5
- English Language4.0/5
- Computers and Electronics3.8/5
- Education and Training3.1/5
Tools & Technology
Equipment and software commonly used in this occupation
In-Demand Technology
Frequently requested by employers in job postings
C++IBM SPSS StatisticsMicrosoft AccessMicrosoft ExcelMicrosoft Office softwareMicrosoft OutlookMicrosoft Power BIMicrosoft PowerPointMicrosoft SQL ServerMicrosoft Visual BasicMicrosoft Visual Basic for Applications VBAMicrosoft WordMozilla FirefoxMySQLOracle JavaPythonRSASStructured query language SQLTableauTeradata DatabaseThe MathWorks MATLABUNIXUNIX Shell
Technology Skills
Aptech Systems GAUSSCamfit Data Limited MicrofitCorel QuattroProCorel WordPerfect Office SuiteESRI ArcViewEconometric Software LIMDEPEstima Regression Analysis of Time Series RATSEstimates Delivery System EDS
Tools & Equipment
10-key calculatorsData scannersDesktop computersLaptop computersMaintrame computersPersonal computers