Economists and economic policy researchers and analysts
Career Overview
Economists and economic policy researchers and analysts do research, follow data, analyze information and prepare reports and plans to solve economic and business problems. They develop models to analyze, explain and forecast economic behaviour and patterns and advise on:
- Finance
- Fiscal and monetary policy
- International trade
- Agricultural and natural resource commodities
- Labour and industrial markets
People in this occupational group work for government departments and agencies and throughout the private sector in associations, unions, research organizations, banks and investment firms.
Job Titles
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
Earnings
Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.
Work Environment
# Workers Employed
1,895% Employed Full Time
74%Work takes place in a conventional indoor office setting.
Career Pathways
Progression to managerial positions in economics is possible with experience.
Occupational Interests
It’s important to understand what kinds of occupations align with your interests.
For more about occupational interests visit Skills for the Future Workforce > Characteristics.
Here are the top occupational interest(s) for this career profile:
Education, Training and Skills
- Master's degree in economics or in a related discipline such as business administration or statistics is usually required
- Doctorate in economics may be required
Education programs in B.C.
Top Skills
Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.
Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.
See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!
Understanding written sentences and paragraphs in work-related documents.
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Using mathematics to solve problems.
Communicating effectively in writing as appropriate for the needs of the audience.
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.
Understanding how new information could be used to solve current and future problems in making decisions.
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Talking to others to share information effectively.
Being able to solve novel, ill-defined problems in complex, real-world settings.
Keeping track of and assessing your performance, other individuals, or organizations to make improvements or take corrective action.
Labour Market Statistics
Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.
Employment
Find out about employment types and trends by region and industry.
Employment
1,895Employment by Region
| Region | Employment | % Employment of this Occupation |
|---|---|---|
| Cariboo | 0 | 0.0% |
| Kootenay | 15 | 0.8% |
| Mainland/Southwest | 1,280 | 67.7% |
| North Coast and Nechako | 0 | 0.0% |
| Northeast | 10 | 0.5% |
| Thompson-Okanagan | 70 | 3.7% |
| Vancouver Island/Coast | 515 | 27.2% |
Labour Market Outlook
The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.
Forecasted Job Openings (2024-2034)
690Forecasted Job Openings
Forecasted Employment Growth Rate
Composition of Job Openings
Job Openings by Region (2024-2034)
| Region | Job Openings | Avg. Annual Employment Growth |
|---|---|---|
| Cariboo | Not available | Not available |
| Kootenay | Not available | Not available |
| Mainland/Southwest | 500 | 1.5% |
| North Coast and Nechako | Not available | Not available |
| Northeast | Not available | Not available |
| Thompson-Okanagan | 20 | 0.9% |
| Vancouver Island/Coast | 180 | 0.5% |
Industry Highlights
Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.
Forecasted Job Openings by Industry
| Industry | Job Openings (2024-2034) |
|---|---|
| Public Administration | 230 |
| Finance, Insurance and Real Estate | 170 |
| Professional, Scientific and Technical Services | 150 |
| Health Care and Social Assistance | 30 |
| Retail Trade | 20 |
Resources
Resource information is currently not available.
Career Videos
Watch the video below to see what it's like to be a chief economist.
Watch the video below to see what it's like to be a chief economist.
