Economic consultants help companies improve their operations and policies in order to increase economic gains by conducting forecasts and generating potential results of various operations. They may also oversee tax filings for the company to ensure that potential advantages such as tax incentives are uncovered. Research will be necessary in order to determine applicable tax advantages; however, work must always be done with respect to all applicable local and federal laws and regulations.
Research must be carried out to gather information about trends within the industry so that the company can improve its own practices. These consultants also work with production departments to help optimize quality control practices, as well as budgeting and accounting departments to ensure that various departments are working efficiently and documenting it correctly. The consultant will then prepare reports which summarize the data to be presented to management.
Economic consultants may work directly for companies or consulting firms which provide services to various companies. It is important to keep all uncovered information confidential, as well. It is essential to be able to multitask and adhere to deadlines in this position, and a bachelor’s degree in a finance-related field is usually required by employers. Travel may occasionally be necessary to visit various branches and departments of a company.