Economist
Help governments to develop policies and businesses to plan financial strategies for the future.
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About the job
Salary
Source: National Careers Service
Weekly
£538
Entry level
£1,154
Experienced
Monthly
£2,333
Entry level
£5,000
Experienced
Yearly
£28,000
Entry level
£60,000
Experienced
5,500
people are currently employed
High growth
300 more jobs in 5 years
These figures refer to this job and similar ones with comparable skills and qualifications. They only apply to Scotland. Source: Oxford Economics
What it's like
In this role, you'd offer economic advice to a range of organisations. You might be looking at the economy of a business, an industry, a government or even globally.
It might help governments to develop policies or businesses to plan financial strategies for the future. Research into the global economy could also influence international economic organisations.
You’d do research and analyse statistics. You’d look at issues like how much people earn, how much things cost and how people spend their money.
You’d apply economic theory to come up with ideas about what’s happening in the economy and what it might mean for the future. You’d explain your ideas clearly and simply to people with less technical knowledge than you.
You could work with a wide range of organisations, including:
government departments
businesses
banks and financial institutions
educational establishments
investment groups
research institutes
As an economist, you'd:
research information from computer databases, websites, journals and newspapers
look at past and present economic issues and trends
create mathematical models to predict future developments
analyse statistics
produce reports
present findings to your employer or client
write reports for the media
examine the effectiveness of current policies
advise on the potential economic impact of policies and ideas
If you work in a university you may also teach students as well as doing research.
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Hours
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Environment
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Travel
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Related industries
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Top skills
Skills are things you're good at. Whether you know what yours are or not, everyone has them!
It's useful to learn which ones are important in a job so you know the areas you need to brush up on. It can also help you work out if you're suited to a career.
Here are some of the skills you'll need to do this job:
- analysing
- time management
- developing a plan
- attention to detail
- social conscience
- researching
- working with numbers
- written communication
- verbal communication
- cooperating
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Your skills are important
Our unique skillsets are what make us stand out from the crowd. Learn about each skill in depth and discover what employers look for in your applications and interviews.
Getting in
Explore the sections shown for more information about getting into this career.
You might have qualifications which are not shown here but will allow you access to a course. You can compare your qualifications by looking at their SCQF Level. For more information about this, check out the SCQF website.
Always contact the college, university or training provider to check exactly what you'll need.
Colleges and universities will list subjects you'll need for entry to a course. Some useful subjects include:
Accounting
Business
Economics
Mathematics
Politics
Foundation Apprenticeship: Accountancy
Applications of Mathematics
You can get a head start in this career by doing a Foundation Apprenticeship in S5 and S6.
You'll get an SCQF level 6 qualification which is the same level as a Higher. You'll also learn new skills and gain valuable experience in a work environment.
Discover what's on offer at your school on Apprenticeships.scot.
You'd need a first or second class honours degree (SCQF 10). Some employers would need a postgraduate qualification (SCQF 11).
Though you can apply for this job with any degree, some will be more helpful. For example, those with a numerate, finance or business focus and with units in economics or development studies.
To enter an economics degree, you'll need either:
National 5 qualifications and Highers at BBBC or above
a relevant HNC or HND.
To enter a finance or economics postgraduate qualification, you'll need one or both of the following:
a degree in a related discipline at 2:1 or above
relevant work-based experience.
Once in the job you may find it useful to join a professional body such as the Royal Economic Society or the Society of Business Economists.
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