Economists Go Back to List Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Technology used in this occupation:
	Analytical or scientific software

Tasks
	Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
	Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
	Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
	Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
	Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.
	Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations based on cost-benefit analyses.
	Supervise research projects and students' study projects.
	Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.
	Teach theories, principles, and methods of economics.
	Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.

Skills
	Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
	Writing - Communicating effectively in writing as appropriate for the needs of the audience.
	Speaking - Talking to others to convey information effectively.
	Mathematics - Using mathematics to solve problems.
	Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
	Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
	Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
	Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
	Instructing - Teaching others how to do something.
	Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.

Knowledge
	Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
	Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
	English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
	Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
	Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
	Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
	Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
	Sociology and Anthropology - Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.
	Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
	Geography - Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.

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Education & Training   Education:   Most of these occupations require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).   Related Experience:   Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.

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Wage Information
	Region Average Entry Level  Mid-Range  Annual  Hourly  Statewide $126,880.00 $61.00  $39.53  $43.25 - $68.25  Bridgeport/Stamford $163,329.00 $78.52  $53.57  $66.91 - $84.12  Hartford $117,258.00 $56.37  $38.25  $42.57 - $64.33  New London/Norwich $124,851.00 $60.02  $38.98  $48.03 - $78.11

Occupation Outlook ( 2016 - 2026 ) Average Annual Job Openings:   10   Employment in this occupation is expected to grow more slowly than average, and the number of annual openings will offer limited job opportunities.

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	Some of the occupational information on this page is formulated from O*NETTM v17.0 data. O*NETTM is a trademark of the U.S. Department of Labor, Employment and Training Administration.