Economist, banking

Economists conduct research, monitor data, analyse information and prepare reports and plans to resolve economic and business problems, and develop models to analyse, explain and forecast economic behaviour.

• forecasting changes in the economic environment for short-term budgeting, long-term planning and investment evaluation;
• formulating recommendations, policies and plans for the economy, corporate strategies and investment, and undertaking feasibility studies for projects;
• monitoring economic data to assess effectiveness and advising on the appropriateness of monetary and fiscal policy;
• forecasting production and consumption of particular products and services based on past data, taking into account general economic conditions and the state of the relevant economic sector;
• preparing forecasts of income and expenditure, interest rates and exchange rates;
• analysing factors that determine labour force participation, employment, wages, unemployment and other labour market outcomes;
• applying mathematical formulas, statistical techniques and economic theories to solve particular economic problems;
• collecting, analysing and interpreting economic data using economic theories and a range of statistical and other techniques;
• evaluating the outcomes of policy decisions affecting the social economy and finance;
• advising on economic policies and possible courses of action in the light of past, present and projected economic factors and trends;
• preparing scientific papers and reports;
• assessing problems related to the economic activity of individual companies;
• researching market conditions in local, regional and national areas to determine sales volumes and pricing policy, assess market potential and future trends, and develop business strategies.
• Examples of occupations in this unit group:
• Specialist, econometrics
• Economic adviser
• Economic analyst
• Economist