Daily tasks /Activities

1. These are the activities that are usually arried out by business economists;

2. Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.

3. Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.

4. Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.

5. Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.

6. Supervise research projects and students' study projects.

7. Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.

8. Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.

9. Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.

10. Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources.

11. Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations based on cost-benefit analyses.

Key knowledge areas

Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.This simplifies understanding and making business analysis in the economy at largeand evaluating the internal performance of the company or organisation.  

Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.This simplifies calculative activities like auditing in the economy and also in reading economic graphs.

English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.IT simplifies communication and easy understanding and making of descriptions.

Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Education and Training — Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

Top Skills 

These are some of the necessary skills and abilities a business economist ought to have;

Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Coordination — Adjusting actions in relation to others' actions.

Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Reading Comprehension — Understanding written sentences and paragraphs in work related documents.

Key Abilities

Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.

Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.

Oral Expression — The ability to communicate information and ideas in speaking so others will understand.

Speech Clarity — The ability to speak clearly so others can understand you.