111-Economists

Job Title: 

Economists

Job Description: 

Conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services. May collect and process economic and statistical data using econometric and sampling techniques.

Summary: 

Economists conduct research, monitor data, analyze information and prepare reports and plans to resolve economic and business problems and develop models to analyze, explain and forecast economic behaviour and patterns. They provide advice to business, interest groups and governments to formulate solutions to present or projected economic and business problems. They often research how financial, labour and trade markets are organized and how they interact, as well advise and provide forecasts to governments and businesses on matters such as taxation/customs duties, wages and prices, employment and unemployment, imports and exports, and interest and exchange rates. They often investigate international or national economic situations, or particular features such as industries or regions.

Tasks: 

Job activities and tasks include:

  • forecasting changes in the economic environment for short-term budgeting, long-term planning and investment evaluation
  • formulating recommendations, policies and plans for the economy, corporate strategies and investment, and undertaking feasibility studies for projects
  • monitoring economic data to assess the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
  • forecasting production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
  • preparing forecasts of income and expenditure, interest rates and exchange rates
  • analyzing factors that determine labour force participation, employment, wages, unemployment and other labour market outcomes
  • applying mathematical formulae and statistical techniques and apply to test economic theories and devise solutions to economic problems
  • compiling, analyzing and interpreting economic data using economic theory and a variety of statistical and other techniques
  • evaluating the outcome of political decisions concerning public economy and finances and advising on economic policy and possible courses of action in the light of past, present and projected economic factors and trends
  • preparing scholarly papers and reports
  • examining problems related to the economic activities of individual companies
  • conducting research on market conditions in local, regional or national areas to set sales and pricing levels for goods and services, to assess market potential and future trends and to develop business strategies
Knowledge: 

Advanced specialized knowledge of principles, concepts and techniques in field of work, discipline and/or professional practice

  • Specialized knowledge of analyzing, planning, managing and establishing ideas, policies, strategies, projections and/or conditions in the field of work, discipline and/or professional practice
  • Advanced knowledge of research principles and methods
  • Advanced knowledge of high level governance of systems, processes and procedures including legislative, regulatory, standards, codes and conventions
  • Higher knowledge of recent developments in the field of work, discipline and/or professional practice
  • Higher knowledge of principles, concepts and techniques in management, economics, finance, statistics and fiscal disciplines related to the field of work and/or professional practice
  • Higher knowledge of political, government, legislative and regulatory systems related to the field of work
  • Higher knowledge of laws, regulations, standards codes and conventions of the UAE and specific Emirates related to the field of work, discipline and/or professional practice and more general subjects including OHSE and cultural understanding and awareness
  • Higher knowledge of principles, concepts and techniques in sensitively recognizing and responding to the management of highly complex ethical issues
  • Leverage information technology, executive information systems, management techniques and tools for optimal field of work performance and/or professional practice
  • Higher skills in research, analysis, consultation and synthesis of information to evaluate ideas, policies, strategies, projections and/or conditions and generate recommendations and/or relevant alternatives
  • Manage advanced relationships and coordinate related activities of respective stakeholders
  • Advanced skills and experience in high level policy analysis, formulation and research, plus strategic planning in sensitive and confidential environment
  • Develop abstract concepts and convey strategic indications from the spectrum of development experience
  • Higher negotiation cultural sensitivity and diplomatic skills
  • Use of information, tools, resources to support high-level and complex work achievement
  • Work sensitively and effectively in a multi-cultural environment
  • Work with others to develop creative solutions to complex unpredictable and/or abstract problems
  • Communicate with influence, and a proven record of developing and maintaining effective partnerships across an organization and with diverse external clients and other key stakeholders
  • Highly developed advanced oral and written communication, interpersonal and representational skills, and a proven ability to use these skills to prepare and present clear, concise, high quality advice
  • Highly developed leadership and effective management skills, with capacity to initiate, implement and sustain improvements within a team environment, as well as the ability to work flexibly and cooperatively as a member of a team
  • Personal drive and integrity, the ability to self-manage and the capacity to identify and effectively manage risks associated with change, as well recognize and implement ethical standards to highly complex ethical issues
  • Achieving results within tight timelines, and capacity to set and implement new policy directions
  • Highly developed higher organizational skills, including the ability to manage priorities and meet tight deadlines
    • Work Context: 

    Work in an office environment that is quiet in businesses, government departments and universities. Often using computers and large databases to compile and analyze data. May be required to travel locally, nationally and internationally to conduct research or to present economic information to clients, as well may attend conferences and meetings

    Education: 

    Bachelor of Commerce or Economics or related field of work/discipline, higher qualification or equivalent.

    Required Work Experience: 

    5 - 7 years and above

    Probable Employers: 

    Department of Economic Development - Dubai, Abu Dhabi Securities Exchange, Securities & Commodities Authority, Statistics Centre Abu Dhabi (SCAD), UAE Minister of Economy, ADNOC, National Bureau of Statistics

    Occupational Size: 
    Less than 5,000
    Expected Earnings: 

    Higher than the industry average

    Projected Growth: 
    Excellent
    Alternate Titles: 

    Examples of job titles:
    Econometrician - Economic adviser - Economic analyst - Economist - Labour economist
    Examples of some related occupations:
    Agricultural and resource economist - Resource economist - Econometrician - Financial economist - Environmental economist - Labour market economist - Applied industry economist - Transport economist - Taxation/Customs duty economist - Research officer

    UAE Industry Groups: 
    Business, administration, tourism, retail and leisure service
    International Careers(ISCO): 
    Similar O*NET Careers (USA) : 
    Source Of Info: 
    Occupations and Careers Handbook for UAE Nationals(Copyright NQA ). Referenced from New York University, Abu Dhabhi