06/15/2007 05651

ECONOMIST

DEFINITION:

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

An employee in this job is responsible for designing economic research studies, developing mathematical models, and utilizing advanced economic and statistical principles, practices, and techniques to identify and analyze economic relationships and formulate recommendations for economic policy. Work involves developing and utilizing various methods and procedures for obtaining and analyzing data, including economic guidelines and standards, sampling techniques, computer and statistical processes, and regression and econometric modeling techniques; creating reports and presentation materials to depict research results to the media and to assist the administration and the legislature with policy decisions; and coordinating the exchange of economic data between internal and external entities. Work also involves analyzing legislation, regulations, and policies to evaluate the economic impact of new or changing laws on agency objectives; preparing policy recommendations on issues with economic implications; and preparing points of view for use in forecasting trends and formulating economic policy. Employees in this job provide direction and guidance to Associate Economists in the research, manipulation, and interpretation of economic data for an assigned economic research study. Work is differentiated from the Associate Economist by responsibility for designing economic research studies, developing mathematical models, and utilizing advanced economic and statistical principles, practices, and techniques to apply economic theory and methods to the research and analysis of economic trends. Employees in this job are responsible for the design and completion of economic research studies and for ensuring that results include the analysis of the trade off between policy and economic objectives, the importance of history and current policy on economic decisions, and the similarities and differences between individual, social, and economic decision making. Work is assigned in the form of scope and objectives of a project or study and is reviewed by a higher level economist or administrative supervisor for adequacy, soundness, and applied techniques.

EXAMPLES OF WORK:

Designs research studies and develops mathematical models to identify and analyze economic relationships under study.

Designs and creates models to relate economic variables under study to identify causal relationships and impact of variable level changes.

Recommends the need for new economic studies or programs based on observations of apparent needs of the agency and users of agency services.

Develops new or improved methods for automating the research and processing of economic data.

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

Prepares complete written summaries or interpretive analysis to illustrate varying outcomes based on potential policy decisions.

Develops economic guidelines and standards and prepares points of view used in forecasting trends and formulating economic policy.

Prepares policy recommendations on issues with economic implications.

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 economic principles and theories.

Knowledge of statistical sampling methods used in economics.

Knowledge of the principles, practices, and techniques of economic analysis.

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 as an Associate Economist;

                                                                                                                                        or

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

                                                                                                                                       or

One year of professional experience researching, analyzing, interpreting or presenting economic information; and a master’s degree in economics;

                                                                                                                                      or

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