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Economists and economic policy researchers and analysts

OaSIS code 41401.00

Economists and economic policy researchers and analysts 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 advise on matters such as finance, fiscal and monetary policy, international trade, agricultural and natural resource commodities and labour and industrial markets.

Overview

Also known as

  • Agricultural economist
  • Economic advisor
  • Economic analyst
  • Economic policy analyst
  • Economist
  • Energy economist
  • Financial economist
  • Industrial economist
  • International trade economist
  • Investment economist
  • Labour economist
  • Natural resources economist
  • Tax economist
  • Trade economist

Main duties

This group performs some or all of the following duties:

  • Conduct research and develop models to analyze, explain and forecast economic behaviour and patterns, and devise methods for collection and analysis of data
  • Forecast production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
  • Prepare forecasts of income and expenditure, interest rates and exchange rates
  • Analyze factors which determine economic growth and advise government agencies on policies to increase economic activities
  • Analyze factors which determine labour force participation, employment, wages, unemployment and other labour market outcomes
  • Study mathematical formulae and statistical techniques and apply them to the testing and quantifying of economic theories and the solution of economic problems
  • Study the nature of money, credit and the operation of banks and other financial institutions to develop monetary policies and forecasts of financial activity
  • Monitor economic data to assess the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
  • Examine problems related to the economic activity of individual companies
  • Examine financial methods, production costs and techniques and marketing policies to recommend possible improvements
  • Examine statistical data on the exchange of goods and services among nations
  • Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources
  • Conduct research on market conditions in local, regional or national area to set sales and pricing levels for goods and services, to assess market potential and future trends and to develop business strategies
  • Monitor regional and local economic trends
  • Study regulatory processes and provide material in support of legal proceedings with government and other parties.

Additional information

  • Progression to managerial positions in economics is possible with experience.

Similar occupations classified elsewhere

Exclusions:

  • Financial and investment analysts (11101)
  • Government managers - economic analysis, policy development and program administration (40011)
  • Business development officers and market researchers and analysts (41402)
  • Labour policy analyst (in 41403.01 Social policy researchers)

NOC hierarchy breakdown

NOC version

NOC 2021 Version 1.0

Broad occupational category

4 – Occupations in education, law and social, community and government services

TEER

1 – Occupations usually require a university degree

Major group

41 – Professional occupations in law, education, social, community and government services

Sub-major group

414 – Professional occupations in government services

Minor group

4140 – Policy and program researchers, consultants and officers

Unit group

41401 – Economists and economic policy researchers and analysts

Occupational profile

41401.00 – Economists and economic policy researchers and analysts

Work characteristics

Work characteristics gathers the various components describing the work environment of each occupation, such as employers, work activities, and the work context. Each category displays up to 10 descriptors in descending order based, firstly, on their attributed ratings by the level of complexity (for Work Activities) or other measurement dimensions (for Work Context), and secondly, in alphabetical order. The whole list of descriptors and their ratings can be expanded at the bottom of each page.

Work Activities

Proficiency or complexity level
Analyzing Data or Information
5 - Highest Level
Applying New Knowledge
5 - Highest Level
Communicating with Persons Outside Organization
5 - Highest Level
Estimating the Quantifiable Characteristics
5 - Highest Level
Getting Information
5 - Highest Level

Work Context

Structural Job Characteristics

Structured versus Unstructured Work
Degree of freedom to determine tasks and priorities
5 - Very high amount of freedom
Work Week Duration
Worked hours in a typical week
3 - More than 40 hours

Physical Work Environment

Physical Proximity
Physical distance from others
3 - Somewhat close (e.g. share office)

Physical Demands

Standing
Duration
1 - Very little time
Bending or Twisting the Body
Duration
1 - Very little time

Interpersonal Relations

Contact with Others
Frequency
3 - Once a week or more but not every day
Duration
3 - About half the time
Work with Work Group or Team
Importance
2 - Somewhat important
Frequency
3 - Once a week or more but not every day

Workplaces/employers

  • Associations
  • Banks
  • Government departments and agencies
  • Investment firms
  • Research organizations
  • Unions

Skills and abilities

This section displays the various competencies required for an occupation. Each category displays up to 10 descriptors in descending order based, firstly, on their attributed ratings by the level of proficiency (for Skills and Abilities) or importance (for Personal Attributes) and secondly, in alphabetical order. The whole list of descriptors and their ratings can be expanded at the bottom of each page.

Abilities

Proficiency or complexity level
Mathematical Reasoning
5 - Highest Level
Numerical Ability
5 - Highest Level
Verbal Ability
5 - Highest Level
Written Comprehension
5 - Highest Level
Written Expression
5 - Highest Level

Skills

Proficiency or complexity level
Digital Literacy
5 - Highest Level
Numeracy
5 - Highest Level
Critical Thinking
4 - High Level
Decision Making
4 - High Level
Evaluation
4 - High Level

Personal Attributes

Importance
Analytical Thinking
5 - Extremely important
Active Learning
4 - Highly important
Attention to Detail
4 - Highly important
Independence
4 - Highly important
Innovativeness
4 - Highly important