41401 Economists and economic policy researchers and analysts

What this occupation covers

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.

Official main duties

The NOC profile lists 15 main duties for this code.

• 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.

Do not copy these lines into your reference letter. The letter has to describe what you actually did, in your employer’s words. DUTYPROOF flags wording lifted from the NOC as something to review, and an officer reading a letter that mirrors the NOC reads it the same way.

What DUTYPROOF screens for

This is DUTYPROOF’s screening threshold, not IRCC’s decision. For this NOC, screening requires at least 3 of its 15 official duties to be evidenced in your own words, plus the required letter elements. IRCC asks that you performed the actions in the occupation’s lead statement and a substantial number of its main duties — so treat the duty coverage as the number that matters, not the badge.

Codes this one is confused with

The NOC profile names these itself. Choosing the wrong code of a look-alike pair is the most common way genuine work experience fails to establish eligibility.

• 41402 Business development officers and market researchers and analysts
• 41200 University professors and lecturers
• 11101 Financial and investment analysts
• 40011 Government managers - economic analysis, policy development and program administration
• 41403 Social policy researchers, consultants and program officers

Excluded from this code

• Business development officers and market researchers and analysts (See 41402 Business development officers and market researchers and analysts)
• Economics professor - university (See 41200 University professors and lecturers)
• Financial and investment analysts (See 11101 Financial and investment analysts)
• Government managers - economic analysis, policy development and program administration (See 40011 Government managers - economic analysis, policy development and program administration)
• Labour policy analyst (See 41403 Social policy researchers, consultants and program officers)

Job titles filed under this code

A title on this list does not by itself put your experience in this code — the duties in your letter decide that.

agricultural economist · business analyst - economics · business economist · business intelligence analyst · business intelligence analyst - economic research · consumer advisor - economics · development economist · econometrician · economic advisor · economic analyst · economic consultant · economic policy adviser · economic policy analyst · economic policy researcher · economic research group supervisor · economist · energy economist · farm economist · financial economist · financial market economist · fiscal economics analyst · forest economist · forest resources economist · general economist

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.