Job description Economic Advisor in the Kitchener–Waterloo–Barrie Region

Find out what work is like for an economic advisor in Canada. This work description is applicable to all Economists and economic policy researchers and analysts (NOC 41401).

Economists and economic policy researchers and analysts

Description

Economists and economic policy researchers and analysts conduct research, monitor data, analyze information and prepare reports and plans to resolve economic and business problems and develop models to analyze, explain and forecast economic behaviour and patterns. They advise on matters such as finance, fiscal and monetary policy, international trade, agricultural and natural resource commodities and labour and industrial markets. They are employed by government departments and agencies and throughout the private sector in associations, unions, research organizations, banks and investment firms.

Work week duration

Economists and economic policy researchers and analysts usually work more than 40 hours per week.
More than 40 hours

Job duties

Here are some of the main activities and tasks that Economists and economic policy researchers and analysts have to perform, and some of the physical demands they involve:

  • Conduct research and develop models to analyze, explain and forecast economic behaviour and patterns, and devise methods for collection and analysis of data
  • Forecast production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
  • Prepare forecasts of income and expenditure, interest rates and exchange rates
  • Analyze factors which determine economic growth and advise government agencies on policies to increase economic activities
  • Analyze factors which determine labour force participation, employment, wages, unemployment and other labour market outcomes
  • Study mathematical formulae and statistical techniques and apply them to the testing and quantifying of economic theories and the solution of economic problems
  • Study the nature of money, credit and the operation of banks and other financial institutions to develop monetary policies and forecasts of financial activity
  • Monitor economic data to assess the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
  • Examine problems related to the economic activity of individual companies
  • Examine financial methods, production costs and techniques and marketing policies to recommend possible improvements
  • Examine statistical data on the exchange of goods and services among nations
  • Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources
  • Conduct research on market conditions in local, regional or national area to set sales and pricing levels for goods and services, to assess market potential and future trends and to develop business strategies
  • Monitor regional and local economic trends
  • Study regulatory processes and provide material in support of legal proceedings with government and other parties.

Physical demands Help - Physical Demands

  • Sitting

Physical demands

Physical demands are the physical activities that the job requires the worker to do. Physical demands are selected according to the likeliness that workers will have to perform them for at least half of the time they spend at work.

Workplaces and employers

Here are the typical workplaces where Economists and economic policy researchers and analysts are employed and some of their main characteristics:

  • Government departments and agencies
  • Associations
  • Unions
  • Research organizations
  • Investment firms
  • Banks

Work environment Help - Physical Work Environment

  • Indoors, environmentally controlled

Physical proximity from others Help - Physical proximity from others

  • Somewhat close (e.g. share office)

Work environment

The work environment refers to the physical setting in which people work. The characteristics and conditions of the work environment are selected according to the likeliness that workers will be exposed to them at least once a week.

Physical proximity from others

Physical proximity from others refers to the physical distance between individuals in the workplace. The likeliness that the job requires to perform tasks while being physically close to other people is rated on a scale with 3 levels: "Somewhat close", "Close" and "Very close".

Related job titles

Here are some other related job titles that are found in the same occupational category (NOC 41401), and a list of similar occupations:

  • agricultural economist
  • economic advisor
  • economic analyst
  • economic policy analyst
  • economist
  • energy economist
  • financial economist
  • industrial economist
  • international trade economist
  • investment economist
  • labour economist
  • natural resources economist
  • tax economist
  • trade economist

Similar occupations Help - Similar occupations

Similar occupations

This section lists other occupations that are part of the same broad occupational category as Economists and economic policy researchers and analysts in the National Occupational Classification (NOC). These occupations involve similar core qualifications but involve different responsibilities. To see more similar occupations, use the Job Transition Tool.

Sources Occupational and Skills Information System & National Occupational Classification

Labour Market Information Survey
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