As an economic analyst you will be conducting studies on economic systems, industries or production processes to determine their effectiveness, profitability or feasibility and to determine optimum use of resources.
Economic analysts research significant trends in commerce and business and forecast the effects of these trends on a company or industry, analysing energy costs, taxes, healthcare costs, inflation or employment levels, depending on their industry.
An economic analyst discerns potential outcomes of economic or financial decisions made by corporate executives or government legislators. Their responsibilities may include developing models of possible scenarios, applying quantitative and qualitative analytical methods, such as cost-benefit and risk-sensitivity analysis and interpreting these complex analyses into understandable reports.
Obtaining data for economic analysis
Figuring out various sampling and survey techniques which would be used for analysis
Interpreting samples and data and deriving conclusions
Studying economic policies and strategies and finding out relating factors between data and economic performance of the institutions
Evaluating economic conditions and issues and preparing alternative courses of action to sort out economic issues
Providing economic advice to different stakeholders
Making documents or presentations and presenting to general public or to the respective authority
Providing assistance to the subordinates or research students in this field
You may take any stream at +2 to be eligible for admission to an undergraduate course in Economics. However some institutions insist on Mathematics as a compulsory subject. Also, preference may be given to candidates who have studied Economics at +2 level.
BA/ BSc and BA/BSc (Hons) courses in Economics, of three years duration are available in various Institutions and Universities.
You can take MA/ MSc Economics which is a two year course. Specialisation in Economic Analysis is not generally available at this level in India but many institutions abroad provide MA/MSc Economic Analysis programmes.
For higher career options in this field it is advisable to take doctoral qualifications. Various institutions in India offer research facilities in Economics.
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Requirements for admission into a PG course in one of the top institutions to help you get an overall picture
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Economic analyst must be able to communicate ideas and facts clearly and present their findings in front of others.
Economic analysts must have good analytical skills as their work involves the analysis of complex data for deriving conclusions.
Problem solving skills are very important for troubleshooting economic issues and finding solutions.
Economic Analysts require to use technological skills to assist in the analysis of vast amounts of complex numerical and other data.
Economic analysis is all about dealing with numerical data and having excellent skills in maths will be an advantage.
Economic Consulting firms
Government Agencies
NGOs
Private Business Corporates
Banks
Insurance firms
Tech Companies
Finance Companies
Google
Facebook
Goldman Sachs
United India Insurance Company
Bajaj Allianz Insurance
Reliance Industries
State Bank Of India
Deloitte
