Economic Analysis

As an economic analyst you will be conducting studies on economic systems, industries or production processes to determine their effectiveness, profitability or feasibility and to determine optimum use of resources.

What do Economic Analysts do?

Economic analysts research significant trends in commerce and business and forecast the effects of these trends on a company or industry, analysing energy costs, taxes, healthcare costs, inflation or employment levels, depending on their industry.

An economic analyst discerns potential outcomes of economic or financial decisions made by corporate executives or government legislators. Their responsibilities may include developing models of possible scenarios, applying quantitative and qualitative analytical methods, such as cost-benefit and risk-sensitivity analysis and interpreting these complex analyses into understandable reports.

What does a typical day at work involve?

  • Checked Obtaining data for economic analysis
  • Checked Figuring out various sampling and survey techniques which would be used for analysis
  • Checked Interpreting samples and data and deriving conclusions
  • Checked Studying economic policies and strategies and finding out relating factors between data and economic performance of the institutions
  • Checked Evaluating economic conditions and issues and preparing alternative courses of action to sort out economic issues
  • Checked Providing economic advice to different stakeholders
  • Checked Making documents or presentations and presenting to general public or to the respective authority
  • Checked Providing assistance to the subordinates or research students in this field

How to become an Economic Analyst?

Step 1
Take any Stream at +2 level

You may take any stream at +2 to be eligible for admission to an undergraduate course in Economics. However some institutions insist on Mathematics as a compulsory subject. Also, preference may be given to candidates who have studied Economics at +2 level.

Step 2
Take an undergraduate course in Economics

BA/ BSc and BA/BSc (Hons) courses in Economics, of three years duration are available in various Institutions and Universities.

Step 3
Take MA/ MSc in Economics

You can take MA/ MSc Economics which is a two year course. Specialisation in Economic Analysis is not generally available at this level in India but many institutions abroad provide MA/MSc Economic Analysis programmes.

Step 4
Take PhD in Economics/ Economic Analysis

For higher career options in this field it is advisable to take doctoral qualifications. Various institutions in India offer research facilities in Economics.

Economic Analysis Colleges

Name State District Type Website Course

Requirements for masters in economic analysis

Requirements for admission into a PG course in one of the top institutions to help you get an overall picture

India (For M.Sc Economics from Indira Gandhi Institute of Development & Research, Mumbai)

  • Applicants should have following degrees or their equivalents: B.A/B.Sc in Economics/ B.Com/ B.Stat/ B.Sc Physics/ BSc Mathematics/ B.Tech/B.E with at least 55% aggregate mark for Economics and 60% mark for other disciplines.
  • Must have studied Mathematics at Higher Secondary level.

Foreign ( For Master of Economic Analysis from University of Sydney)

  • Bachelor’s degree in Economics with min 75%.
  • Minimum overall band score of 7 in IELTS with a minimum 6.5 in each band or minimum TOEFL IBT score of 96 including 20 in reading, listening and speaking and 22 in writing.

To see the entrance exams, scholarships and UG admission details, click here

Skills Required

Good Communication Skills

Economic analyst must be able to communicate ideas and facts clearly and present their findings in front of others.

Analytical Skills

Economic analysts must have good analytical skills as their work involves the analysis of complex data for deriving conclusions.

Problem Solving skills

Problem solving skills are very important for troubleshooting economic issues and finding solutions.

IT skills

Economic Analysts require to use technological skills to assist in the analysis of vast amounts of complex numerical and other data.

Math Skills

Economic analysis is all about dealing with numerical data and having excellent skills in maths will be an advantage.

Industries

  • Checked Economic Consulting firms
  • Checked Government Agencies
  • Checked NGOs
  • Checked Private Business Corporates
  • Checked Banks
  • Checked Insurance firms
  • Checked Tech Companies
  • Checked Finance Companies

Top companies

  • Checked Google
  • Checked Facebook
  • Checked Goldman Sachs
  • Checked United India Insurance Company
  • Checked Bajaj Allianz Insurance
  • Checked Reliance Industries
  • Checked State Bank Of India
  • Checked Deloitte