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Key Responsibilities and Required Skills for Economic Analyst

💰 $85,000 - $125,000

EconomicsFinanceData AnalysisResearchStrategy

🎯 Role Definition

As a pivotal member of our strategy and research team, the Economic Analyst will be instrumental in decoding the complex economic landscape to inform our company's strategic direction. You will be responsible for conducting rigorous quantitative analysis, building sophisticated forecast models, and translating your findings into compelling narratives that empower senior leadership to make data-driven decisions. This role requires a blend of analytical prowess, technical skill, and strategic thinking to identify risks, uncover opportunities, and shape the future of our business in an ever-changing global market.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Junior Economic Analyst / Research Assistant
  • Data Analyst or Business Intelligence Analyst with a focus on economics
  • Financial Analyst or Investment Analyst

Advancement To:

  • Senior Economic Analyst or Lead Economist
  • Manager, Economic Research & Strategy
  • Director of Corporate Strategy or Market Intelligence

Lateral Moves:

  • Data Scientist
  • Corporate Strategist
  • Quantitative Analyst (Quant)

Core Responsibilities

Primary Functions

  • Conduct in-depth quantitative and qualitative analysis of macroeconomic and microeconomic trends, including GDP, inflation, employment, and industry-specific indicators.
  • Develop, maintain, and refine complex econometric and statistical models to forecast key economic variables and predict their impact on business performance and market dynamics.
  • Utilize advanced statistical software (such as Stata, R, or Python) to manipulate large datasets, perform regression analysis, and conduct time-series forecasting.
  • Analyze the economic impact of government policies, central bank actions, trade agreements, and regulatory changes on the company's operations, supply chain, and market positioning.
  • Monitor and interpret high-frequency economic data releases from sources like the Bureau of Economic Analysis (BEA), Bureau of Labor Statistics (BLS), and the Federal Reserve.
  • Perform scenario analysis and stress testing to assess the company's resilience to various economic shocks, market cycles, and downturns.
  • Evaluate and clean large, unstructured datasets to ensure data integrity and accuracy before conducting any formal analysis or modeling.
  • Design and execute custom research projects to address specific business questions, from market sizing and competitive intelligence to pricing strategy and demand forecasting.
  • Translate complex economic concepts and model outputs into clear, concise, and actionable insights for senior leadership and non-technical stakeholders.
  • Prepare and deliver compelling presentations, in-depth reports, and regular economic briefings to executive management to inform strategic planning and decision-making.
  • Author white papers, thought leadership articles, and market commentaries on relevant economic issues and trends for internal and external audiences.
  • Visualize data and analytical findings effectively using tools like Tableau, Power BI, or Python libraries (Matplotlib, Seaborn) to create impactful charts and dashboards.
  • Respond to ad-hoc inquiries from various business units, providing timely and accurate economic data and bespoke analysis.
  • Collaborate cross-functionally with teams in finance, marketing, strategy, and sales to integrate economic insights into their respective planning processes and operational models.
  • Provide analytical support for corporate strategy initiatives, including mergers and acquisitions (M&A), market entry evaluations, and long-range financial planning.
  • Assess and quantify economic risks and opportunities, providing data-backed recommendations to mitigate threats and capitalize on favorable conditions.
  • Contribute to the development of the company's annual budget and multi-year strategic plans by providing foundational economic assumptions and forecasts.
  • Support the investor relations team by providing economic context, data, and analysis for quarterly earnings calls and investor presentations.
  • Stay abreast of cutting-edge economic research, new analytical methodologies, and emerging data sources to continuously improve the team's analytical capabilities.
  • Manage and prioritize multiple research projects simultaneously, ensuring timely delivery of high-quality analytical work in a dynamic, fast-paced environment.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis for various departments.
  • Contribute to the organization's broader data governance and data strategy roadmap.
  • Collaborate with business units to translate abstract data needs into tangible engineering and data science requirements.
  • Participate in sprint planning, stand-ups, and other agile ceremonies within the data and analytics team.

Required Skills & Competencies

Hard Skills (Technical)

  • Econometric Modeling: Proficiency in time-series analysis, regression modeling (OLS, logistic), and advanced forecasting techniques (ARIMA, VAR).
  • Statistical Software: Advanced, hands-on knowledge of at least one of the following: Stata, R, or Python (with libraries like Pandas, NumPy, StatsModels).
  • Database Querying: Strong experience with SQL for extracting, joining, and manipulating large datasets from relational databases.
  • Data Visualization Tools: Competency in creating dashboards and reports using Tableau, Power BI, or similar BI platforms.
    Two-Factor
  • Economic Data Sources: Deep familiarity with key economic databases such as Bloomberg Terminal, Haver Analytics, CEIC, FRED, BEA, and BLS.
  • Quantitative Analysis: Strong ability to perform rigorous quantitative, statistical, and financial analysis on complex datasets.
  • Microsoft Excel: Expert-level proficiency, including pivot tables, advanced modeling, and automation with VBA or Power Query.
  • Financial Acumen: Solid understanding of financial statements, corporate finance principles, and market valuation techniques.
  • Research Methodology: Expertise in designing and conducting both primary and secondary research projects from inception to completion.
  • Presentation Software: Skill in using PowerPoint or Google Slides to build clear, data-driven, and visually appealing presentations.

Soft Skills

  • Analytical & Critical Thinking: Exceptional ability to dissect complex problems, identify core issues, and evaluate evidence logically.
  • Communication & Storytelling: Superior written and verbal communication skills, with the ability to weave data into a compelling narrative that drives action.
  • Attention to Detail: Meticulous and precise in data handling, model validation, and report generation to ensure accuracy and credibility.
  • Intellectual Curiosity: A strong, proactive desire to learn, ask "why," and explore economic phenomena in depth.
  • Problem-Solving: Resourceful and creative in overcoming analytical challenges and finding innovative solutions.
  • Collaboration & Influence: Ability to work effectively in cross-functional teams and build strong working relationships to influence decision-making.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree in a quantitative field.

Preferred Education:

  • Master's Degree or Ph.D. in Economics or a related quantitative discipline.

Relevant Fields of Study:

  • Economics, Statistics, Finance
  • Mathematics, Data Science

Experience Requirements

Typical Experience Range:

  • 3-7 years of relevant experience in economic analysis, financial analysis, consulting, or a related field.

Preferred:

  • Experience working within a corporate strategy department, a financial services institution (investment banking, asset management), or a dedicated economic consulting firm.
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