National Occupational Classification (NOC) 2016 Version 1.0
4 - Occupations in education, law and social, community and government services
Occupations in this category are concerned with law, teaching, counselling, conducting social science research, developing government policy, and administering government and other programs. Occupations providing religious services and leadership are included in this category. These occupations usually require completion of a related post-secondary program. Individuals who work as paralegals, social service workers or educators and instructors who are not part of the elementary, secondary or post-secondary school system are usually required to complete additional formal education to progress to professional occupations.
41 - Professional occupations in law and social, community and government services
This major group comprises professional occupations in law and social, community and government services. It includes judges, lawyers, Quebec notaries, psychologists, social workers and counsellors; as well as policy researchers, consultants and program officers in a variety of fields; and certain other professional occupations in the social sciences.
416 - Policy and program researchers, consultants and officers
This minor group includes policy researchers, analysts, consultants, and program officers in a variety of fields and certain other professional occupations in social science not elsewhere classified. They are employed by federal, provincial and municipal governments, and government agencies; universities, educational institutions, and school boards; research, international, non-government, and environmental and conservation organizations; consulting, marketing, and investment companies; banks; unions, and professional and business associations; recreation, sports, and fitness facilities; hospitals, health care facilities, retirement homes, and community centres and agencies; and in industry and manufacturing; or they may be self-employed.
4162 - Economists and economic policy researchers and analysts
Economists and economic policy researchers and analysts conduct research, monitor data, analyze information and prepare reports and plans to resolve economic and business problems and develop models to analyze, explain and forecast economic behaviour and patterns. They advise on matters such as finance, fiscal and monetary policy, international trade, agricultural and natural resource commodities and labour and industrial markets. They are employed by government departments and agencies and throughout the private sector in associations, unions, research organizations, banks and investment firms.
Illustrative example(s)
- agricultural economist
- economic advisor
- economic analyst
- economic policy analyst
- economist
- energy economist
- financial economist
- industrial economist
- international trade economist
- investment economist
- labour economist
- natural resources economist
- tax economist
- trade economist
Inclusion(s)
- business analyst - economics
- consumer advisor - economics
- salary analyst - economic policy
- wage analyst - economic policy
Exclusion(s)
- Business development officers and marketing researchers and consultants (See 4163 Business development officers and marketing researchers and consultants)
- Economists who teach at universities (See 4011 University professors and lecturers)
- Financial and investment analysts (See 1112 Financial and investment analysts)
- Government managers - economic analysis, policy development and program administration (See 0412 Government managers - economic analysis, policy development and program administration)
- Labour policy analysts (See 4164 Social policy researchers, consultants and program officers)
Main duties
Economists and economic policy researchers and analysts perform some or all of the following duties:
- Conduct research and develop models to analyze, explain and forecast economic behaviour and patterns, and devise methods for collection and analysis of data
- Forecast production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
- Prepare forecasts of income and expenditure, interest rates and exchange rates
- Analyze factors which determine economic growth and advise government agencies on policies to increase economic activities
- Analyze factors which determine labour force participation, employment, wages, unemployment and other labour market outcomes
- Study mathematical formulae and statistical techniques and apply them to the testing and quantifying of economic theories and the solution of economic problems
- Study the nature of money, credit and the operation of banks and other financial institutions to develop monetary policies and forecasts of financial activity
- Monitor economic data to assess the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
- Examine problems related to the economic activity of individual companies
- Examine financial methods, production costs and techniques and marketing policies to recommend possible improvements
- Examine statistical data on the exchange of goods and services among nations
- Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources
- Conduct research on market conditions in local, regional or national area to set sales and pricing levels for goods and services, to assess market potential and future trends and to develop business strategies
- Monitor regional and local economic trends
- Study regulatory processes and provide material in support of legal proceedings with government and other parties.
Employment requirements
- A master's degree in economics or in a related discipline such as business administration or statistics is usually required.
- A doctorate in economics may be required.
Additional information
- Progression to managerial positions in economics is possible with experience.
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