What the work is
An economist in a company plans and analyses its activity: drawing up budgets and business plans, calculating costs and prices, forecasting demand, and assessing how inflation, the exchange rate and market changes will affect the business. In government bodies and think tanks, economists study industries and regions and prepare reviews and the case for decisions.
A typical day
Collecting cost data from workshops and departments. Calculating the cost of a new product and proposing a price. Updating the sales forecast for seasonality. Preparing a note for management on how an exchange-rate change will hit purchasing. Working in Excel and with industry statistics.
How to start
- Learn micro- and macroeconomics, statistics and the basics of accounting.
- Get confident in Excel: models, scenarios, pivot tables.
- Practise explaining economic effects in plain language.
- Do an internship in a company’s planning department or at a bank.
Related professions
Financial analyst, accountant, data analyst, auditor.