06/15/2007 05650

ASSOCIATE ECONOMIST

DEFINITION:

This is professional analytical work in the research, analysis, manipulation, interpretation, and presentation of economic information.

An employee in this job is responsible for researching, manipulating, and interpreting economic data to develop forecasts and conduct impact analysis to analyze agency policy issues and public information needs that involve economic implications and estimate the economic impact of new or changing laws on agency objectives. Work involves organizing and summarizing data; verifying the accuracy and relevance of research data to ensure the validity of research results and the interpretation of such results; applying appropriate statistical theories to forecast trends; processing economic data through the use of computerized and statistical means, and the application of appropriate modeling and trend analysis techniques; and preparing components of reports and presentation materials including charts, graphics, and narratives to clearly show trends, forecasts, and the results of impact analysis for policy and program consideration. Work also involves assisting in the analysis of legislation, regulations, and policies to estimate the economic impacts of new or changing laws on agency objectives; and preparing portions of policy recommendations with economic implications for review by a higher level economist. Employees in this job utilize standard economic and statistical principles, practices, and techniques to assist higher level economists in applying economic theories and methods to the research and analysis of economic trends. Work is assigned in the form of detailed instructions on research methods and techniques, and report preparation. Work is reviewed by a higher level economist or an administrative supervisor for completeness, accuracy, and adherence to the project outline.

EXAMPLES OF WORK:

Analyzes agency policy issues and public information needs that involve economic implications and estimates the economic impact of new or changing laws on agency objectives.

Researches, manipulates, and interprets economic data to develop forecasts and conduct impact analysis of wages, income, working conditions, labor legislation, and industrial relations.

Applies appropriate economic theories to forecast trends through the use of economic modeling and statistical techniques including quantitative and statistical theories and regression analysis.

Utilizes statistical, econometric, and input and output software to manipulate, summarize, and interpret data.

Prepares forecasts of future trends in areas such as demographics, employment, unemployment, inflation, economic growth, and productivity.

Creates reports and presentation materials including charts, graphics, and narratives to clearly show trends, forecasts, or the results of impact analysis. Prepares portions of written summaries or interpretive analysis to illustrate varying outcomes based on potential policy decisions.

Prepares portions of policy recommendations on issues with economic implications.

Researches, verifies, manipulates, and summarizes economic data relevant to economic or policy issues under study.

Contacts internal and external entities including but not limited to the Bureau of Labor Statistics, the Department of Revenue, the Bureau of Economic Analysis, the Census Bureau, educational associations, the International Monetary Fund, the International Civil Service Commission, the Department of Public Welfare, and the Federal Reserve Board of Governors to request and provide economic data.

Performs the full range of supervisory duties.

Employees in this job may participate in the performance of their subordinates’ work consistent with operational or organizational requirements.

Performs related work as required.

REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES:

Knowledge of the sources of information utilized in economic analysis such as economic journals, working papers, and government and non-government data sources.

Knowledge of mathematic modeling techniques.

Knowledge of econometric modeling techniques.

Knowledge of research techniques such as literature reviews, proposal writing, methods of statistical analysis (e.g. sample methods, risk analysis, linear programming, and cost-benefit analysis), and hypothesis testing.

Knowledge of methods for presenting statistical findings and conclusions in tabular, graphic, and narrative form.

Ability to interpret and summarize economic data.

Ability to analyze written and numerical information related to economics.

Ability to establish and maintain effective working relationships.

Ability to communicate effectively in writing.

Ability to communicate effectively orally.

MINIMUM EXPERIENCE AND TRAINING:

One year of professional experience researching, analyzing, interpreting or presenting economic information; and a bachelor’s degree that includes 18 credits in economics;

                                                                                                                                                      or

A master’s degree in economics;

                                                                                                                                                      or

An equivalent combination of experience and training that includes 18 credits in economics.