United States
111-Economists
Job Title:
Economists
Job Description:
Conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services. May collect and process economic and statistical data using econometric and sampling techniques.
Summary:
Economists conduct research, monitor data, analyze information and prepare reports and plans to resolve economic and business problems and develop models to analyze, explain and forecast economic behaviour and patterns. They provide advice to business, interest groups and governments to formulate solutions to present or projected economic and business problems. They often research how financial, labour and trade markets are organized and how they interact, as well advise and provide forecasts to governments and businesses on matters such as taxation/customs duties, wages and prices, employment and unemployment, imports and exports, and interest and exchange rates. They often investigate international or national economic situations, or particular features such as industries or regions.
Tasks:
Job activities and tasks include:
- 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 the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
- forecasting production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
- preparing forecasts of income and expenditure, interest rates and exchange rates
- analyzing factors that determine labour force participation, employment, wages, unemployment and other labour market outcomes
- applying mathematical formulae and statistical techniques and apply to test economic theories and devise solutions to economic problems
- compiling, analyzing and interpreting economic data using economic theory and a variety of statistical and other techniques
- evaluating the outcome of political decisions concerning public economy and finances and advising on economic policy and possible courses of action in the light of past, present and projected economic factors and trends
- preparing scholarly papers and reports
- examining problems related to the economic activities of individual companies
- conducting research on market conditions in local, regional or national areas to set sales and pricing levels for goods and services, to assess market potential and future trends and to develop business strategies
Knowledge:
Advanced specialized knowledge of principles, concepts and techniques in field of work, discipline and/or professional practice
Work Context:
Work in an office environment that is quiet in businesses, government departments and universities. Often using computers and large databases to compile and analyze data. May be required to travel locally, nationally and internationally to conduct research or to present economic information to clients, as well may attend conferences and meetings
Education:
Bachelor of Commerce or Economics or related field of work/discipline, higher qualification or equivalent.
Required Work Experience:
5 - 7 years and above
Probable Employers:
Department of Economic Development - Dubai, Abu Dhabi Securities Exchange, Securities & Commodities Authority, Statistics Centre Abu Dhabi (SCAD), UAE Minister of Economy, ADNOC, National Bureau of Statistics
Occupational Size:
Less than 5,000
Expected Earnings:
Higher than the industry average
Projected Growth:
Excellent
Alternate Titles:
Examples of job titles:
Econometrician - Economic adviser - Economic analyst - Economist - Labour economist
Examples of some related occupations:
Agricultural and resource economist - Resource economist - Econometrician - Financial economist - Environmental economist - Labour market economist - Applied industry economist - Transport economist - Taxation/Customs duty economist - Research officer
UAE Industry Groups:
Business, administration, tourism, retail and leisure service
International Careers(ISCO):
Similar O*NET Careers (USA) :
Source Of Info:
Occupations and Careers Handbook for UAE Nationals(Copyright NQA ). Referenced from New York University, Abu Dhabhi