Skills & Competencies for Economics Analyst I

Economics Analyst I job profile

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JOB SUMMARY for Economics Analyst I

Conducts research and analysis on economic data/trends and produces forecasts, interpretive reporting, and media used for risk assessment, communication, and decision making.

JOB RESPONSIBILITIES for Economics Analyst I

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.

Economics Analyst I SALARY RANGE

BASE 50%
$98,337
TOTAL 50%
$102,553
Job Level
P02
Job Code
FA06000947
Education/Degree
Bachelor's Degree
Reports To
Manager or Head of a Unit/Department

Economics Analyst I Skills and Competencies List

Proficiency Levels and Behavioural Indicators
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.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
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11 general skills or competencies (Job family competencies) for Economics Analyst I

1 Job Family Competencies – Business Architecture
Proficiency Level -1
Skill definition-Designing and implementing business strategies, goals, and objectives to deliver end-to-end business value.
Level 1 Behaviors
(General Familiarity)
Describes the concepts and principles of business architecture.
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Level 2 Behaviors
(Light Experience)
Assists in developing business architecture best practices, techniques, and tools.
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Level 3 Behaviors
(Moderate Experience)
Executes the architecture roadmaps to maintain the architecture backlog of the business domain.
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Level 4 Behaviors
(Extensive Experience)
Develops innovative process flow architecture to support existing and future business plans.
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Level 5 Behaviors
(Mastery)
Champions the adoption of the business architecture practices to maximize the business value.
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2 Job Family Competencies – Business Strategy
Proficiency Level -1
Skill definition-Developing and implementing plans to assess the actions and goals of a business.
Level 1 Behaviors
(General Familiarity)
Describes the correlation of business strategy with our organization's vision.
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Level 2 Behaviors
(Light Experience)
Collects all relevant information and calculations to determine business strategy.
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Level 3 Behaviors
(Moderate Experience)
Communicates with leadership to develop a business strategy for increasing volume and profitability.
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Level 4 Behaviors
(Extensive Experience)
Determines different perspectives to manage practices and fulfill the business strategy.
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Level 5 Behaviors
(Mastery)
Creates best practices in developing and designing a business strategy to assess actions.
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3 Economics Analyst I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Economics Analyst I
Proficiency Level - 4
5 Competency for - Economics Analyst I
Proficiency Level - 5

7 soft skills or competencies (core competencies) for Economics Analyst I

1 Core Competencies – Gathering Information
Proficiency Level -2
Skill definition-Accumulating necessary information from various resources to clarify the situation or make an informed business decision.
Level 1 Behaviors
(General Familiarity)
Describes the importance of gathering relevant information in making informed business decisions.
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Level 2 Behaviors
(Light Experience)
Checks multiple sources to get complete and accurate information.
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Level 3 Behaviors
(Moderate Experience)
Asks questions and gathers the necessary information to make informed business decisions.
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Level 4 Behaviors
(Extensive Experience)
Monitors the overall process of records retention programs.
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Level 5 Behaviors
(Mastery)
Creates confidentiality agreements to ensure accurate submission of information from employees.
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2 Core Competencies – Predictive Analytics
Proficiency Level -2
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)
Describes various predictive model types, including decision trees, regression, and neural networks.
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Level 2 Behaviors
(Light Experience)
Assists in creating and validating predictive models.
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Level 3 Behaviors
(Moderate Experience)
Demonstrates a proactive mindset in analyzing the probability of historical data for future trends.
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Level 4 Behaviors
(Extensive Experience)
Directs predictive techniques to increase organizational success and decrease operational failures.
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Level 5 Behaviors
(Mastery)
Champions adoption of new predictive analytics tools to optimize key decisions for our business.
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3 Economics Analyst I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Economics Analyst I
Proficiency Level - 4
5 Competency for - Economics Analyst I
Proficiency Level - 5

Summary of Economics Analyst I skills and competencies

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 a Economics Analyst I, he or she needs to be proficient in Gathering Information, be proficient in Predictive Analytics, and be proficient in Initiative.

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