Industry Economist Job Responsibilities

Industry Economist Responsibilities

Industry economist is responsible for collection, analysis, interpretation and reporting of statistical data by plans and research. Interpretation of economic trends of national and international market and analyse their impact on an organisation or industry. He helps industry to understand economic trends of the market and suggests ways to evaluate effective strategy for the implementation of their business plans. Factors that affect economic environment of industry, the monitoring and analysis of those factors are the major responsibility of industry economist.

Industry Economist job Responsibilities

–          Job responsibility of an industry economist is to recognize market                         structure, strategy and activities of competitors, cause and effects of                   domination in an industry.

–          To examine the influence of government participation in market, laws                and regulations for change is also an important job responsibility of                      industry economist.

–          Post of industry economist is also responsible for foreseeing the growth             of industry in near future.

–          What are the new opportunities in the market for new services? This is                the important question for industry economist.

–          Monitoring and analysis of trends is key job responsibility of industry                economist.

–          To conduct Industrial survey by sampling and mathematical modelling              techniques is to be done by industry economist.

–          Information of economic factors is to be processed by industry                               economist.

–          Industry economist gathers socio-economic data for their industrial                   projects.

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