Economists and economic policy researchers and analysts (NOC 4162)

About this job

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Source: WorkBC’s Career Trek

Economists and economic policy researchers and analysts:

  • do research, follow data, analyze information and prepare reports and plans to solve economic and business problems
  • develop models to analyze, explain and forecast economic behaviour and patterns
  • advise on matters such as finance, fiscal and monetary policy, international trade, agricultural and natural resource commodities and labour and industrial markets
  • work for government departments and agencies and throughout the private sector in associations, unions, research organizations, banks and investment firms
Common job titles
  • adviser, consumer - economics
  • analyst, risk management
  • analyst, salary / wage - economic policy
  • economist, financial
  • economist, health
  • economist, human resources
  • adviser, consumer - economics
  • analyst, risk management
  • analyst, salary / wage - economic policy
  • analyst, trade
  • business intelligence analyst
  • econometrician

Earnings

Annual provincial median salary

$79,691

Source: 2016 Job Bank Wage data

Note:Estimated median employment income based on 2016 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))

Provincial hourly rate

  • High
  • Median
  • Low

Source: 2016 Job Bank Wage Report

Duties

Economists and economic policy researchers and analysts perform some or all of the following duties:

  • do research and develop models to analyze, explain and forecast economic behaviour and patterns, and create 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 that determine economic growth and advise government agencies on policies to increase economic activities
  • analyze factors that determine labour force participation, employment, wages, unemployment and other labour market outcomes
  • study mathematical formulas and statistical techniques and apply them to the testing and measuring 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
  • follow 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
  • do 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
  • follow regional and local economic trends
  • study regulatory processes and provide material in support of legal proceedings with government and other parties

Work environment

Key aspects of the work in this occupation:

  • Work takes place in a conventional indoor office setting.

Job requirements

Education, training & qualifications

  • A master's degree in economics or in a related discipline such as business administration or statistics is usually required.
  • A doctorate in economics may be required.

Skills

  • Innovative
  • Detail-Oriented
  • Verbal & Written Comprehension
  • Numerical Ability
View skills definitions

Education programs in B.C.

The following program areas are related to this occupation:
  • Economics
  • Economics (Arts)
  • Economics (Science)

For more information about programs offered specifically for this career, visit EducationPlannerBC.

Select a region to view regional outlook
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
Cariboo
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Kootenay
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Mainland / Southwest
Employment in 2016:
790
Average annual employment growth:
1.5%
Expected number of job openings:
360
North Coast & Nechako
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Northeast
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Thompson-Okanagan
Employment in 2016:
20
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Vancouver Island / Coast
Employment in 2016:
230
Average annual employment growth:
1.1%
Expected number of job openings:
100

N/A - Data not available

Source: B.C. Labour Market Outlook

Career paths and resources

Career paths

Progression to managerial positions in economics is possible with experience.

Additional resources

Additional resources are not currently available for this career.