Most commonly reported Work Activities

• Analysing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
• Processing Information Compiling, coding, categorising, calculating, tabulating, auditing, or verifying information or data.
• Making Decisions and Solving Problems Analysing information and evaluating results to choose the best solution and solve problems.
• Thinking Creatively Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
• Updating and Using Relevant Knowledge Keeping up-to-date technically and applying new knowledge to your job.
• Identifying Objects, Actions, and Events Identifying information by categorising, estimating, recognising differences or similarities, and detecting changes in circumstances or events.
• Interpreting the Meaning of Information for Others Translating or explaining what information means and how it can be used.
• Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

The Work

The identification of trends in economic activity and the analysis of their implications form the greater part of the Economist's work in the public service and industry.  
 
The following are some examples:

• Advising government, employers, or trade unions on prices, the cost of living, profits, wages, etc.

• Advising government or businesses on the course of demand for particular products.

• Interpreting and predicting macroeconomic events for government, research institutions or business.

• Giving advice to companies (public or private) about the choice between alternative investment projects.

• Advising on resource planning in general - transport policy, energy policy, etc.

• Working in an administrative or technical capacity in international organisations such as EU, OECD, Central Bank.

• Conducting program evaluations for governments (e.g. Employment action plan)
• Advising the government on its policies on poverty and social inclusion.

Reappraisal of the theoretical foundations and statistical techniques of analysis links the professional interest of the government and industrial economist with those of colleagues in research and universities.  
 
Alternatively, an economics graduate may choose a career other than that of a professional economist; a qualification in economics may be combined with other qualifications to form the basis of a career in administration, accountancy, business, journalism or teaching.

Most commonly reported Work Tasks

• Study economic and statistical data in area of specialisation, such as finance, labor, or agriculture.
• Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
• Compile, analyse, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
• Supervise research projects and students' study projects.
• Teach theories, principles, and methods of economics.
• Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
• Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
• Explain economic impact of policies to the public.
• Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
• Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.

Further Information

• Economist / Economist EU - from: N.C.S. [UK]
• Economist / Economist EU - from: GradIreland

This occupation is typically suited for people with the following Career Interests:

Investigative

The Investigative person will usually find a particular area of science to be of interest. They are inclined toward intellectual and analytical activities and enjoy observation and theory. They may prefer thought to action, and enjoy the challenge of solving problems with sophiscticated technology. These types prefer mentally stimulating environments and often pay close attention to developments in their chosen field.

Enterprising

Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.

Administrative

Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.

They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.

An economist will initially have an honours primary degree in pure economics or with economics as a major part of their degree (B.Comm.), preferably with either first class honours or second class honours, followed by a postgraduate degree. Once they secure employment, they typically undertake a period of postgraduate practical training.

Higher Education CAO Entry Economics NFQ 6-8 Search CAO courses

Employment can be found with a research institute such as the ESRI, a merchant bank, an insurance company or a stockbroker.

Postragraduate Study options: For those who wish to pursue a career in the academic world, a three-year course of study leading to a doctorate is essential after the Masters Degree programme.

Self-employment is also an option as is working with large bodies like the International Monetary Fund. 

Employment Opportunities in the EU

You must have a good command of at least 2 EU languages, an economics degree for entry at Grade AD 5 (entry level for permanent administrators) and several years’ relevant experience, to join us at a more senior level (Grade AD 7)

Working closely with senior decision-makers, EU economists deliver economic and statistical analysis and shape new strategies in areas such as:

• Financial institutions and markets
• Economic integration and development

EU Selection Procedure

Economics is often one of the fields included in the annual EU graduate selection procedure launched in spring each year. Find out more about the selection procedure here. Also, check "What's coming up" on the EU Job opportunities for announcements about application deadlines. You may also find the 'sample tests' area useful.

EU Qualifications (indicative) You must have:

• A good command of at least 2 European languages (one of which must be English, French or German)
• An economics degree (or be graduating in the current year) for entry at Grade AD 5
• Several years’ relevant experience, to join us at a more senior level (Grade AD 7).

Last Updated: April, 2023

Salary Range (thousands per year)* €57k - €100k

Basic monthly permanent official salaries range from around €2,300 per month for a newly recruited Assistant-Secretary (AST/SC 1) official, €4500 for an entry level graduate administrator grade (AD 5) and up to €16,000 per month for a limited number of top level Administrators (AD 16) at Director-General level. Each grade is broken up into five seniority steps with corresponding salary increases. Basic salaries are adjusted annually in line with inflation and purchasing power in the EU countries.

Data Source(s):
EU Salary Scales

Last Updated: August, 2024

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.

View Salary information from Indeed.ie
Note: data not aways available

This information has been derived from the Solas National Skills Bulletin (2023).

The strong employment growth for this occupation can be attributed in large part to changes in the LFS methodology in 2017, although employment has increased annually since then, albeit in small numbers.

The public administration and defence sector accounted for the largest share of employment at approximately two-fifths. Employment permits issued in 2022 were primarily in the financial activities and ICT sectors in roles including actuaries, data scientists and risk analysts. The Recruitment Agency Survey cited vacancies for data scientist engineers and actuaries as difficult-tofill. While demand exists for these roles, the numbers involved are likely to be small.

• Economic and Social Research Institute (ESRI)

  • Whitaker Square Sir John Rogerson's Quay Dublin 2
  • (01) 8632000
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• EU Careers - European Personnel Selection Office (EPSO)

  • Candidate Contact Service, Office C-80 00/40, B1049 Brussels
  • 00800 6789 1011
  • Click Here

• European Movement Ireland

  • 8 Lower Fitzwilliam Street, Dublin 2,
  • (0)1 662 5815
  • [email protected]
  • Click Here