Economist
The
economists state advises the government and parliament on issues such as
taxation, housing benefits, financing of local government, public health, and
criminal justice. They apply their knowledge of economic policies.
They
conduct research on economic phenomena, such as inflation, income distribution,
capital investment, etc.
For example, economists study concrete
proposals, such as plans to increase spending on housing, and use their results
to advise ministers on eventual costs, the expected impact of current trends,
and their implications for other areas of the budget.
State
economists analyze national spending, as well as spending on health, and
defense benefits and budgets, and recommend making investments or cuts in
particular areas.
They
also investigate the difference in values between payments inside and outside
the country (the balance of payments), assessing the strength of the export market.
The economy deals only with money - which has to do with all kinds of
resources, including raw materials, goods and services, and people. State
economists could study the availability of a particular resource around the
world, for example. Aside from economists in central government, there are also
economists in regional and local government, and in non-governmental
organizations (NGOs), such as local development agencies.
All
of these economists generally work to stimulate their local economy. They
analyze local trends, such as investment in the tourism industry or private
investment, and keep policymakers informed of potential new sources of funding
for local areas.
In
business and industry, economists study markets, advise on investment
opportunities, and warn of significant changes in the economy tuition that could affect the
company.
They study the use and distribution of resources within companies, gathering information on factors such as the availability and cost of raw materials, transportation, and labor.
The largest industrial and business organizations employ their own economists. However, most economists in this area work as consultants for smaller companies.
For example, a computer company may
hire a consulting economist to determine how many students leave school with
Information Technology (IT) skills of a certain level. This helps the company think
about and plan for possible skills shortages in the future.
Other areas of work include international organizations such as the World Bank, United Nations, and the International Monetary Fund (IMF). There are also economists working in areas such as journalism, education, and unions.
Regardless
of who they work for, economists gather information from sources such as
databases, published statistics, the internet, libraries, and newspapers. They
present their results, for example, in reports presented orally or in writing,
using graphs and tables.
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