Provide sound financial advice based on your evaluation of the economy.
What does an Economic Analyst do?
Economic Analysts are like economic Zoologists: They’re hired to study the economy’s anatomy and interpret its behavior for those who need to understand it, but don’t. You see, to most people, the economy is a species of animal whose roar they can hear, but that they don’t know how to hunt. People know vaguely what it is, but they’d be hard-pressed to describe what it looks like, how it works, or why it behaves the way it does.
As an Economic Analyst, however, you know exactly what it is. You’re an Economist who’s employed by governments, nonprofits, and private corporations to examine the economy-locally, nationally, and globally. You then make predictions based on your analysis, which takes into account data about Gross Domestic Product (GDP), inflation, employment, housing, tax revenue, exchange rates, and stock prices, among other things. Your goal as an Economic Analyst: To help your employer make smart business decisions based on economic expectations.
Case in point: When the housing market contracts, Economic Analysts like you examine home values, sales, and foreclosures in order to give construction companies an idea about how they can best survive the downturn. You might suggest that they lay off workers, for example, close offices, or reduce their overhead.
Your nitty-gritty duties include collecting data, interpreting it, and reporting it in the form of written, visual, and verbal forecasts. Ultimately, though, you’re expected to be your employer’s financial soothsayer: You help it stay afloat today by making accurate predictions about tomorrow.