Profession economic adviser

Economic advisers research economic developments and advise on economic problems. They forecast trends and behaviour in economics, and advise on finance, trade, fiscal and other related matters. They advise companies and organisations on techniques to gain economic profit.

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Personality Type

• Investigative / Enterprising

Knowledge

• Statistics

  The study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments in order to forecast and plan work-related activities.

• Business analysis

  The research field which addresses the identification of business needs and problems and the determination of the solutions that would mitigate or prevent the smooth functioning of a business. Business analysis comprises IT solutions, market challenges, policy development and strategic matters.

• Organisational policies

  The policies to achieve set of goals and targets regarding the development and maintenance of an organisation.

• Strategic planning

  The elements defining the foundation and core of an organisation such as its mission, vision, values, and objectives.

• Politics

  The method, process and study of influencing people, gaining control over a community or society, and the distribution of power within a community and between societies.

• Economics

  Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.

• Company policies

  The set of rules that govern the activity of a company.

• Financial forecasting

  The tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.

• Market analysis

  The field of market analysis and research and its particular research methods.

Skills

• Develop organisational policies

  Develop and supervise the implementation of policies aimed at documenting and detailing the procedures for the operations of the organisation in the lights of its strategic planning.

• Advise on economic development

  Advise organisations and institutions on the factors and steps they could take which would promote and ensure economic stability and growth.

• Supervise advocacy work

  Manage the aim to influence political, economic and social decisions. Make sure ethics and policies are followed.

• Analyse market financial trends

  Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

• Think analytically

  Produce thoughts using logic and reasoning in order to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

• Develop financial statistics reports

  Create financial and statistical reports based on collected data which are to be presented to managing bodies of an organisation.

• Comprehend financial business terminology

  Grasp the meaning of basic financial concepts and terms used in businesses and financial institutions or organisations.

• Assess risk factors

  Determine the influence of economical, political and cultural risk factors and additional issues.

• Carry out statistical forecasts

  Undertake a systematic statistical examination of data representing past observed behaviour of the system to be forecast, including observations of useful predictors outside the system.

• Maintain financial records

  Keep track of and finalise all formal documents representing the financial transactions of a business or project.

• Analyse economic trends

  Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.

• Monitor company policy

  Monitor the company's policy and propose improvements to the company.

• Apply statistical analysis techniques

  Use models (descriptive or inferential statistics) and techniques (data mining or machine learning) for statistical analysis and ICT tools to analyse data, uncover correlations and forecast trends.

Optional knowledge and skills

Source: Sisyphus ODB