NKPD code: 2631
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. Economists perform the following main tasks: • 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 Excludes: – Statistician – 2120