State economists advise government and parliament on issues such as taxes, housing benefits, municipal funding, public health and criminal justice. They apply their knowledge of economic policy
You research economic phenomena such as inflation, income distribution, capital investment, etc.
For example, economists examine specific proposals, such as plans to increase housing spending, and use their findings to advise ministers on possible costs, the expected impact of current trends and their impact on other areas of the budget.
State economists analyze government spending, as well as spending on health and defense services and budgets, and recommend investments or cuts in specific areas.
They also examine the difference in value between payments inside and outside the country (balance of payments) and assess the strength of the export market.
The economy is all about money – which has to do with all kinds of resources, including raw materials, goods and services, and people. State economists could, for example, examine the global availability of a particular resource.
In addition to economists in the central government, there are also economists in regional and local governments and in non-governmental organizations (NGOs) such as local development agencies.
All of these economists are generally working to boost their local economies. They analyze local trends, such as investments in the tourism industry or investments by individuals, and inform policy makers about potential new sources of funding for local areas.
In business and industry, economists examine markets, advise on investment opportunities and warn of significant economic changes that could affect the company.
They examine the use and distribution of resources in companies and collect information on factors such as the availability and costs of raw materials, transport and labor.
The largest industrial and business organizations employ their own economists. Most economists in this field, however, work as consultants for smaller businesses.
For example, a computer company may hire a consulting economist to determine how many students with a certain level of IT skills are leaving school. This helps the company to think about and plan for possible skilled labor shortages in the future.
Economists also work in finance-related areas, for example in insurance, banking and …