Key Responsibilities and Required Skills for Economic Consultant

🎯 Role Definition

Are you a sharp analytical mind with a passion for applying economic theory to solve complex, real-world problems? We're seeking a driven Economic Consultant to join a team of leading experts. In this role, you will be the analytical powerhouse behind critical business and legal decisions. You'll leverage sophisticated economic principles, quantitative analysis, and empirical research to provide expert insights on matters ranging from high-stakes litigation and antitrust reviews to corporate strategy and regulatory policy. You will deconstruct complex challenges, build robust models, and communicate your findings to clients, legal teams, and senior stakeholders, directly influencing outcomes and shaping strategy.

📈 Career Progression

Typical Career Path

Entry Point From:

Economic Analyst / Research Associate
Data Scientist with a focus on causal inference
Postdoctoral Fellow in Economics or Finance

Advancement To:

Senior Economic Consultant / Managing Economist
Principal / Director of Economic Consulting
Partner or Testifying Expert

Lateral Moves:

Corporate Strategist / Internal Consultant
Data Scientist or Quantitative Researcher
Policy Advisor in a government or regulatory agency

Core Responsibilities

Primary Functions

Design and execute sophisticated econometric and statistical analyses of large, complex datasets to identify trends, test hypotheses, and establish causal relationships.
Develop, implement, and validate complex economic and financial models to assess asset valuations, forecast market trends, and quantify economic damages in legal disputes.
Provide critical analytical support for expert witness testimony in high-stakes litigation, including antitrust, intellectual property, securities fraud, and commercial damages cases.
Author and contribute significantly to the preparation of clear, concise, and persuasive expert reports, white papers, and client presentations that distill complex economic concepts into actionable insights.
Conduct in-depth analyses of market structure, firm conduct, and competitive effects related to mergers and acquisitions to inform regulatory submissions and strategic decision-making.
Evaluate claims of anticompetitive behavior, such as price-fixing, monopolization, and exclusionary conduct, by applying principles of industrial organization.
Assess economic issues in the context of securities and financial market litigation, including performing event studies and analyzing market efficiency.
Manage and process large-scale, often unstructured, data using programming languages like Stata, R, Python, or SAS to prepare it for rigorous analysis.
Critically review and rebut the analyses and reports of opposing experts, identifying logical flaws, data inaccuracies, and methodological weaknesses.
Interface directly with clients, including corporate counsel and law firm partners, to understand their challenges, define project scope, and present analytical findings.
Perform detailed industry research and literature reviews to ground economic analyses in established theory and empirical evidence.
Calculate economic damages in various contexts, such as breach of contract, intellectual property infringement, and business interruption claims.
Analyze the economic impact and potential consequences of proposed government regulations and policies on specific industries or the broader economy.
Supervise and mentor junior analysts and research associates, providing guidance on analytical techniques, project management, and professional development.
Manage multiple project workstreams simultaneously, ensuring deadlines are met and the quality of the final deliverable exceeds client expectations.
Develop valuation models for intellectual property, including patents, trademarks, and copyrights, often in the context of licensing negotiations or litigation.
Conduct surveys and design conjoint analyses to understand consumer preferences, willingness to pay, and product substitution patterns.
Analyze class certification issues by assessing whether economic impact can be determined on a class-wide basis using common evidence.
Build simulation models to predict the likely market outcomes of different strategic choices or regulatory interventions.
Stay abreast of the latest developments in economic theory, econometric techniques, and relevant legal precedents to ensure cutting-edge analytical approaches.
Participate in business development activities by contributing to proposals, identifying new client opportunities, and building professional networks.
Clearly articulate and defend analytical methodologies and results during internal reviews, client meetings, and depositions.

Secondary Functions

Support ad-hoc data requests and exploratory data analysis.
Contribute to the organization's data strategy and roadmap.
Collaborate with business units to translate data needs into engineering requirements.
Participate in sprint planning and agile ceremonies within the data engineering team.

Required Skills & Competencies

Hard Skills (Technical)

Econometric and Statistical Modeling: Mastery of regression analysis, time series analysis, panel data models, and causal inference techniques.
Programming Proficiency: Advanced skills in at least one statistical software package such as Stata, R, or SAS. Proficiency in Python is highly desirable.
Data Management: Expertise in managing, cleaning, and manipulating large datasets using tools like SQL and programming libraries (e.g., pandas in Python).
Microeconomic Theory: Deep understanding of microeconomics, particularly industrial organization, price theory, and game theory.
Financial Valuation: Knowledge of financial principles and valuation methods, including discounted cash flow (DCF) analysis and event studies.
Quantitative Analysis: Ability to translate abstract legal and business questions into testable hypotheses and quantitative research frameworks.
Modeling and Simulation: Experience building simulation models to forecast outcomes and test sensitivities.
Market Research: Competency in survey design, conjoint analysis, and other market research techniques.
Data Visualization: Skill in creating clear and impactful charts, graphs, and dashboards using tools like Tableau, ggplot2, or similar.
Technical Writing: Ability to draft precise and defensible reports, memos, and technical documentation.

Soft Skills

Analytical & Critical Thinking: Exceptional ability to deconstruct complex problems, identify key assumptions, and evaluate evidence rigorously.
Communication: Superior written and verbal communication skills, with the ability to explain complex technical concepts to non-technical audiences.
Problem-Solving: Creative and resourceful approach to overcoming analytical hurdles and data limitations.
Attention to Detail: Meticulous approach to data analysis and report writing to ensure accuracy and defensibility under scrutiny.
Project Management: Strong organizational skills to manage competing priorities, project timelines, and team members effectively.
Client-Facing Presence: Poise and professionalism in client interactions, with an ability to build trust and manage expectations.
Teamwork & Collaboration: A collaborative spirit and willingness to work intensively in case teams with colleagues from diverse backgrounds.
Intellectual Curiosity: A strong desire to learn continuously and tackle new, unfamiliar problems.

Education & Experience

Educational Background

Minimum Education:

A Master's degree in a quantitative discipline.

Preferred Education:

A Ph.D. in Economics, Finance, or Statistics is strongly preferred and often required for advancement to senior, testifying expert roles.

Relevant Fields of Study:

Economics (especially Microeconomics, Econometrics, Industrial Organization)
Finance
Statistics
Applied Mathematics

Experience Requirements

Typical Experience Range:

2-7 years of relevant professional or academic research experience in applying quantitative methods to real-world data.

Preferred:

Prior experience at an economic consulting firm.
Direct experience supporting litigation or regulatory matters.
Published academic research in a relevant field of economics or finance.
Experience managing projects and mentoring junior staff.