Who is an economist and what do they do? The work of the economist has a comparatively broad content since economics represents an extensive branch of knowledge. The common element is the study, analysis, and forecasting of financial, industrial and commercial trends, and advice given as a result.
What are the activities of the economist? Economists may specialise in many different areas. The focus is usually on finance and profitability. The economist can advise any firm, company, corporation or state administrative body, on current economic conditions and implications of specific policies or financial strategies. There is usually a lot of paperwork, though those in higher positions spend a considerable amount of time in meetings and negotiations. Activities vary according to area of specialism, but may typically include the following:
Corporate sector: Finance functions of all medium size and large organisations employ as a rule a comparatively large number of economists, whose tasks and activities are differently defined. They work as managers of various departments (e.g. accounts, capital expenditure, pricing, investment) or may even be in charge of the complete finance function, or as experts in certain areas (funding, budgeting, trading in securities etc.).
Banking: Economists work in the senior management of banks and at all other functions, e.g. account management, credit, foreign exchange trading, securities trading, banking products and services development, while they also undertake positions as analysts of the financial and capital markets and as experts in other fields.
State administration: Their tasks in this sector usually include budgeting and supervision of the financial performance of certain sectors or institutions reporting to the state administration and those funded by the state, and also the issues of tax collection and other incomes of the state budget. They are often employed as officers with financial, district or municipal authorities, and as specialists and managers in ministries etc.