An economic analyst is someone who is hired to research relevant trends in business. The economic analyst then offers forecasts, suggestions, and advice to a company, public body, or elected official. This advice is based upon observed trends and sound analytical principles. Economic analysts can help privately held corporations and financial institutions make decisions about purchasing and investing. An analyst in the public sector can help advise legislators and executives on the best course to take with economic policy laws, public works, and revenue expenditures.
This analyst should be prepared to look at large data sets concerning a variety of economic factors, from commodities pricing to international currency value and costing trends in labor and goods. Based upon this research, the analyst can then utilize statistics to model a variety of forecasts and possible future outcomes. This analysis can assist a company when deciding on expansion, purchasing or building fixed assets, setting up marketing campaigns, or scaling the workforce to expected trends.
To work as an economic analyst, a person must typically have at least a university degree in business, finance, or a related field. Most economic analysts also hold postgraduate degrees in administration or public policy. Economic analysts must possess strong computer skills, have an outstanding grasp on a variety of statistical disciplines, and be excellent communicators. Most analysts work regular business hours, although travel may be an expected part of the position.
Economic Analyst Tasks
Analyze and interpret data and statistics to make recommendations and build predictive models.
Identify, define, and track key variables for the organization, and explain their importance to key personnel.
Write, review, and contribute to reports and fact checking.
Construct and manipulate quality control and document databases.