Producing rigorous, relevant and impactful economic analysis to drive decision-making at all levels.
Occupational Profile
The core responsibilities of a Professional Economist are to produce rigorous, relevant and impactful economic analysis to drive decision-making at all levels – from operational decisions to strategic business and policy decisions. Professional economists work in a wide range of industries and sectors, from small consultancies to large banks to the civil service and wider public sector. While each of these brings their own specialisms, the work of a professional economist typically involves identifying a question of interest that affects their organisation, approaching it by analysing data, interpreting this by drawing on a knowledge of economic theory or making informed predictions about the future, and communicating any findings with clarity.
Examples of this include: analysing the comparative benefits of investing in new transport lines, hospitals, or schools; advising clients on their likely market size and share, such as predicting the number of mobile phones they can expect to sell; helping write the Chancellor of the Exchequer’s Budget or advising the Bank of England on interest rate policy; advising organisations on the economic impact of climate or technological change and what their business or policy response should be.
Professional economists usually work in teams, and at this level the apprentice will typically be working for more a senior economist as part of a team – for example by collating data, performing analysis of trends, writing briefing reports, analysing market share and size of companies, and presenting this analysis. Completion of this integrated degree apprenticeship will enable individuals to work across employers of professional economists in the private, public and third sectors.
Summary of Standard
https://www.instituteforapprenticeships.org/apprenticeship-standards/professional-economist-degree/
Full Standard
