Economist job description

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Description - Skills - Education - Trends

An economist is a vital part of the operations of financial institutions, global asset management organisations and charitable foundations. Professional incumbents are prized for their acumen in areas that include currency movements, financial analyses and shifts of political power.
Although different corporations have varying requirements, the principal duties of successful candidates include forecasting economic trends and their impact on national and global markets, and the generation of analytical reports for use by company management and clients or interested parties.
Job holders are expected to hold an MSc in economics or finance as well as to have a profound understanding of economies, macroeconomics and accounting. Positions require self-starting individuals with in-depth research experience, good data management and writing skills, and the ability to analyse and resolve problems.
Openings for economists are mainly with large companies and foundations in big cities such as Birmingham, Manchester and London. Annual salaries are in the £30,000 to £60,000 range. Commercial enterprises sometimes offer annual bonuses and other benefits such as BUPA health insurance.

Description

Economists advise Banks government departments, banks and other companies thanks to their knowledge about economic theory. They solve problems related to their area, including employment levels, taxes, transport, energy, among others. Economist can predict market trends, helping companies and government bodies to plan their future projects.
Economists usually do the following tasks:
• Economist needs to perform the following tasks:
• Monitoring economic issues and predicting trends.
• Advising about alternative ideas and economic impact of some projects.
• Analysing and describing statistics.
• Investigating press, journals, and computer databases.
• Writing reports for the press and other sources.

Skills

• Being an excellent researcher of economic theory and business.
• Having good communication skills, both for economist and people without economic knowledge.
• Team working abilities.
• Having competent abilities to create reports.
• Having advanced mathematical skills.
• Being flexible to work in several projects at the same time.
• Having good stressful situation management.
• Being accurate and self-reliant.
• Having advanced knowledge about computer software for this area.
• Being able to apply economic theories to real life problems.
• Being methodical and well organised.

Education

Employers are interested in good degrees related to Economist jobs, so it is recommended to have postgraduate Masters Degree in economics. People who want to work in a Government Service are required to have 2:1 degree in economics. A good background for this area is to have degrees related to business studies, finance and accounting, statistics, and math. It is also required to have five or more GCSE (A-C) with two A levels including economics and math, in order to start a course of economic degree.

An important part of knowledge and learning process is done by working with senior economists. Employers also provide training skills like presentation with computer software and writing. It is recommended to join the Society of Business Economist or the Royal Economic Society to have better networking opportunities.

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