What Is The Job Of An Economist

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What Is The Job Of An Economist
What Is The Job Of An Economist

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Today the profession of economist is popular among young people. Statistics show that one in five school graduates chooses the Faculty of Economics. Although many of them do not understand enough what an economist does and what his responsibilities are.

What is the job of an economist
What is the job of an economist

What is an Economist?

In general terms, an economist is a specialist who is responsible for the result of a company's economic activity. The profession of an economist by the nature of the activity is similar to the professions of financier, accountant, marketer, manager. Economists are needed in all structures where there is a need for planning, calculations and control over financial flows, analysis of the financial performance of an organization, and determination of profitability.

The profession of an economist in the modern world has become popular due to the development of international trade, market relations, but, despite this, its history goes deep into the past. The concept of an economist dates back to ancient Greece. It characterized a person who was engaged in housekeeping. He conducted a household analysis. The very first economist is Aristotle. He developed a theory regarding the utility of product value and commodity exchange.

Obligations of an economist

Coordination of implementation and development of planned tasks based on statistics is the main function of an economist. The task of the economist is to carry out economic activities that are aimed at increasing the efficiency of the organization's labor activity and its profitability, achieving the highest results through the optimal use of material, financial and labor resources, based on statistics on all structural areas of the company.

The duties of an economist include:

1.determination of the efficiency of production and labor activities;

2. calculation of financial, material and labor costs required for the sale and production of products;

3. maintaining periodic reporting, developing, maintaining and updating the database of information of an economic nature, making changes to the database that occurred in the course of data processing;

4. keeping records of indicators for all results of economic and financial activities of the company.

What should an economist know?

In addition to his direct responsibilities, an economist must know the regulatory framework for audit and accounting, economic activity, and statistical planning of the company.

It is impossible to be a professional specialist without knowledge of planning and accounting documentation, the organization of statistical and operational accounting of indicators, methods of economic analysis. A good economist knows market methods of management and production technology.

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