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Economic Advisor as a Career

To become economic advisor to the business organization, candidates must develop management abilities in the decision-making process, both in theory and on operational level. They must be in command to provide information to support the allocation of scarce resources, supplies in precise manner to the right people at the right time.

Candidates must have masters degree in economics with specialization in Monetary / Financial Economics or Econometrics from a reputed national or international institution.

The nature of the job of economic advisor is to conduct research, prepare reports, and formulate plans to address economic problems related to the production and distribution of goods and services. It could also be for monetary and fiscal policies. They are required to collect and process economic and statistical data using sampling techniques and econometric methods.

Economic advisors must demonstrate the financial impacts of different decisions and scenarios to allow the organization to foresee and compare the outcomes against numerous alternatives. They must have the capability to encourage executives and managers to make decisions to maximize profit.

They should also provide consultancy on economic relationship to businesses, public and private agencies. They have the duty to track economic developments and prepare briefings and analysis on various micro and macroeconomic issues. They may be required to write report on any such economic issues.

They have to develop and maintain networks with government, non-government and external support agencies through high level policy dialogue, regular and systematic networking, practical program collaboration and information sharing, to prepare good analysis report.

The role of economic adviser is challenging as well as rewarding. Candidates must be capable of technical leadership, team working, and provides experience across a range of program and policy issues.

This Economic Adviser provides economic advisory inputs into program and policy in specific thematic or ecological areas.

Candidates can get success in this career who exhibit practical expertise in quantitative analysis including cost benefit analysis, ability to provide high quality analysis, and writing skills. They must develop strong ability to converse and develop successful working relationships with several organizations.