Economist, Policy

Economists and Policy analysts conduct research, collect data, and analyze economic and policy issues to inform decision-making in government, business, and non-profit organizations. They may specialize in a particular area of economics, such as macroeconomics, microeconomics, econometrics, or public policy.

Education and Training

Economists and policy analysts typically need a master's degree in economics, public policy, or a related field. Some employers may hire candidates with a bachelor's degree in economics or a related field, but they may have limited opportunities for advancement. A doctorate is required for teaching positions at colleges and universities.

Skills and Experience

Economists and policy analysts must have strong analytical and problem-solving skills. They must be able to think critically and creatively, and they must be able to communicate their findings effectively to a variety of audiences. They must also be able to use a variety of research methods, including data analysis, econometrics, and policy analysis.

Job Outlook

The job outlook for economists and policy analysts is expected to be good over the next few years. The demand for economists and policy analysts is expected to grow as businesses and governments increasingly rely on data and analysis to make decisions. Some of the employment growth is expected to come from the need to replace retiring economists and policy analysts.

Earnings

Economists and policy analysts earn a median annual salary of $111,830, and the top 10 percent earn more than $208,000. Earnings vary depending on experience, education, and location.

Advancement

Economists and policy analysts typically advance by taking on more responsibilities and leadership roles. They may also move into management positions or become independent consultants.

Transferable Skills

The skills that economists and policy analysts develop are transferable to a variety of other careers. These skills include:

• Analytical skills
• Problem-solving skills
• Communication skills
• Research skills
• Data analysis skills
• Econometrics skills
• Policy analysis skills

Day-to-Day Responsibilities

Economists and policy analysts typically perform the following duties:

• Conduct research on economic and policy issues.
• Collect and analyze data.
• Develop and evaluate policy recommendations.
• Write reports and articles.
• Present findings to clients and stakeholders.

Challenges

Economists and policy analysts face a number of challenges, including:

• The need to stay up-to-date on the latest economic and policy research.
• The need to be able to communicate complex economic and policy issues to a variety of audiences.
• The need to work independently and as part of a team.

Projects

Economists and policy analysts may work on a variety of projects, including:

• Developing economic forecasts.
• Evaluating the effects of government policies.
• Conducting cost-benefit analyses.
• Writing reports on economic and policy issues.

Personal Growth

Economists and policy analysts have the opportunity to grow professionally through their work. They may develop their analytical, problem-solving, communication, research, data analysis, econometrics, and policy analysis skills. They may also develop their leadership and management skills.

Personality Traits and Personal Interests

Economists and policy analysts typically have the following personality traits and personal interests:

• Analytical
• Problem-solving
• Communication
• Research
• Data analysis
• Econometrics
• Policy analysis

Self-Guided Projects

Students who are interested in a career as an economist or policy analyst may complete a number of self-guided projects to better prepare themselves for the role. These projects may include:

• Conducting research on an economic or policy issue.
• Collecting and analyzing data.
• Developing a policy recommendation.
• Writing a report or article on an economic or policy issue.
• Presenting findings to an audience.

Online Courses

Online courses can be a great way to prepare for a career as an economist or policy analyst. These courses can provide learners with the skills and knowledge they need to succeed in the role. Online courses can teach learners about economic and policy analysis, data analysis, econometrics, and other relevant topics. They can also provide learners with the opportunity to work on projects and assignments that will help them develop their skills.

Online courses can be a helpful learning tool for students who are interested in a career as an economist or policy analyst. However, they are not always enough to prepare learners for the role. In addition to taking online courses, learners should also consider pursuing a degree in economics, public policy, or a related field. They should also gain experience through internships, research projects, and other activities.