LER.me
My LER

Economists

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.

SOC: 19-3011.00

Common Job Titles

  • Economic Analyst
  • Economic Consultant
  • Economist
  • Forensic Economist

What You'll Need to Succeed

AI-generated

Key competencies for this occupation at a glance

  • KnowledgeAnalyze economic and statistical data using econometric methods and sampling techniques working independently with statistical software such as Stata, R, SAS, or Python to address production and distribution problems.
  • KnowledgeEvaluate monetary and fiscal policy implications for economic systems considering multiple stakeholder perspectives and complex regulatory constraints.
  • KnowledgeFormulate strategic plans and policy recommendations to address economic challenges synthesizing quantitative analysis with qualitative insights for government agencies or private organizations.
  • KnowledgeInterpret complex mathematical models and quantitative findings for non-technical audiences through written reports, presentations, and consultation with external stakeholders.
  • KnowledgeDesign research methodologies for collecting and processing economic information ensuring validity and reliability in data collection under resource and time constraints.
  • KnowledgeDevelop quantitative models and forecasts to estimate characteristics of economic products and events working with databases using SQL and managing large datasets across multiple platforms.
  • KnowledgeApply advanced mathematical and statistical techniques including regression analysis and time series modeling using tools such as MATLAB, SPSS, or EViews to forecast economic trends.
  • KnowledgeAssess the impact of market trends, regulatory changes, and global events on economic outcomes integrating knowledge of economics, accounting, law, and government within interdisciplinary teams.
  • MindsetAdvocate for evidence-based policy decisions to government officials, business leaders, and the public when communicating findings that may challenge prevailing assumptions or political preferences.
  • KnowledgeSynthesize information from diverse sources including historical data, geographic patterns, and sociological trends to update knowledge continuously and maintain relevance in a rapidly evolving field.
  • KnowledgeExplain economic concepts, theories, and empirical findings through teaching and training in academic, government, or corporate settings to build capacity in economic analysis.
  • MindsetEngage with supervisors, peers, and external clients to coordinate economic research projects establishing and maintaining interpersonal relationships within collaborative environments.

Wage Data According to the Bureau of Labor Statistics

Annual wage data for Economists (2024)

Estimated Total Employment (U.S.)

15,880

Wage Distribution by Percentile

Line chart of annual wages by percentile. U.S. is the solid line. 10th percentile: U.S. $62,340. 25th percentile: U.S. $82,260. 50th percentile: U.S. $115,440. 75th percentile: U.S. $166,030. 90th percentile: U.S. $212,710. Use the left and right arrow keys to move between percentiles.

  • U.S.
MetricU.S.
10% of workers earn the following or less$62,340
10% of workers earn the following or more$212,710
Workers on average earn$130,910

+ indicates wage is at or above the BLS reporting cap ($239,200/year)

Skills & Requirements

Key competencies for this occupation, ranked by importance

  • Mathematics4.5/5
  • Economics and Accounting4.5/5
  • English Language4.0/5
  • Computers and Electronics3.8/5
  • Education and Training3.1/5
Skills & Requirements: Knowledge

Tools & Technology

Equipment and software commonly used in this occupation

In-Demand Technology

Frequently requested by employers in job postings

  • C++
  • IBM SPSS Statistics
  • Microsoft Access
  • Microsoft Excel
  • Microsoft Office software
  • Microsoft Outlook
  • Microsoft Power BI
  • Microsoft PowerPoint
  • Microsoft SQL Server
  • Microsoft Visual Basic
  • Microsoft Visual Basic for Applications VBA
  • Microsoft Word
  • Mozilla Firefox
  • MySQL
  • Oracle Java
  • Python
  • R
  • SAS
  • Structured query language SQL
  • Tableau
  • Teradata Database
  • The MathWorks MATLAB
  • UNIX
  • UNIX Shell

Technology Skills

  • Aptech Systems GAUSS
  • Camfit Data Limited Microfit
  • Corel QuattroPro
  • Corel WordPerfect Office Suite
  • ESRI ArcView
  • Econometric Software LIMDEP
  • Estima Regression Analysis of Time Series RATS
  • Estimates Delivery System EDS
Tools & Technology: Technology Skills

Tools & Equipment

  • 10-key calculators
  • Data scanners
  • Desktop computers
  • Laptop computers
  • Maintrame computers
  • Personal computers