Economists study complex data and statistics and use this to deliver predictions of future trends.
- Gathering information from multiple sources
- Gathering and analysing huge amounts of data from sources including government figures, publications, web-based research and industry surveys.
- Researching and understanding economic models and trends
- Using computer programs to analyse data collected
- Meeting with colleagues and clients to share information
- Preparing reports explaining the potential economic impact of different decisions
- Making presentations to technical and non-technical audiences
- Preparing forecasts that enable organisations to plan the allocation of resources
- Predicting future market requirements
- Establishing training or investment requirements
- Assessing the feasibility of a proposed project
- Working standard office hours, Monday to Friday
- Likely to be occasions when it is necessary to work late, particularly in more senior roles.
- Newly trained economists can earn in the region of £25,000-£30,000
- Trained with experience economists can earn in the region of £4,000-£55,000
- Senior, chartered or master economists can earn in the region of £60,000-£85,000
Qualifications & TrainingThere are a number of routes that can lead to a career as an economist but most will require a degree or equivalent in economics or a related subject like business studies, maths or physics. Many employers will also look for candidates with postgraduate qualifications such as a Masters in Economics.