Conducts research and analysis on economic data/trends and produces forecasts, interpretive reporting, and media used for risk assessment, communication, and decision making.
Collects economic data from established datasets and other sources utilizing data collection and data science protocols. Utilizes statistical analysis, mathematical methodologies, and modeling techniques to develop data. Designs and organizes data into unique report models and graphical illustrations to present economic information used for decision making and solution development.
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Economics Analyst I skill and competencie below to view definitions.
Skill definition-Designing and implementing business strategies, goals, and objectives to deliver end-to-end business value.
Level 1 Behaviors
(General Familiarity)
Explains the importance of business capability modeling and frameworks in business architecture.
Level 2 Behaviors
(Light Experience)
Documents the enterprise-level business architecture standards.
Level 3 Behaviors
(Moderate Experience)
Partners with various professionals to identify issues in the delivery of the business architecture.
Level 4 Behaviors
(Extensive Experience)
Guides the business process redesign teams to develop new business process architectures.
Level 5 Behaviors
(Mastery)
Leads the development of business process architecture using various tools and technologies.
Skill definition-Developing and implementing plans to assess the actions and goals of a business.
Level 1 Behaviors
(General Familiarity)
Explains the development techniques for creating a business strategy.
Level 2 Behaviors
(Light Experience)
Supports the execution of business strategy to ensure delivery of positive results.
Level 3 Behaviors
(Moderate Experience)
Provides technical inputs on business strategy to meet our business's business goals.
Level 4 Behaviors
(Extensive Experience)
Facilitates the development of cross-functional project plans to align with business strategy.
Level 5 Behaviors
(Mastery)
Establishes financial metrics to evaluate the performance of a business strategy.
Skill definition-Accumulating necessary information from various resources to clarify the situation or make an informed business decision.
Level 1 Behaviors
(General Familiarity)
Lists the principles and procedures of gathering information.
Level 2 Behaviors
(Light Experience)
Determines the source of information to verify its reliability.
Level 3 Behaviors
(Moderate Experience)
Uses survey results to identify areas that need improvement within our business.
Level 4 Behaviors
(Extensive Experience)
Recommends improvement of our business's records retention program.
Level 5 Behaviors
(Mastery)
Generates innovative plans for curating and managing gathered information from different sources.
Skill definition-Gathering, analyzing, and predicting patterns and structures of historical data and trends to make strategic decisions for better future outcomes.
Level 1 Behaviors
(General Familiarity)
Explains the importance of predictive analytics as a decision-making tool for the business.
Level 2 Behaviors
(Light Experience)
Identifies the strengths and weaknesses of various algorithms used in predictive analytics.
Level 3 Behaviors
(Moderate Experience)
Utilizes various statistics and modeling techniques in assessing future business performances.
Level 4 Behaviors
(Extensive Experience)
Provides subject matter expertise in validating models and interpreting metrics.
Level 5 Behaviors
(Mastery)
Makes in-depth analyses of the importance of predictive analysis to save money or generate more profit.
There are 0 hard skills for Economics Analyst I.
11 general skills for Economics Analyst I, Business Architecture, Business Strategy, Data Analytics, etc.
7 soft skills for Economics Analyst I, Gathering Information, Predictive Analytics, Initiative, etc.
While the list totals 18 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as an Economics Analyst I, he or she needs to be proficient in Gathering Information, be proficient in Predictive Analytics, and be proficient in Initiative.
