The profession of an economist these days can be without exaggeration called the most common among young people, and therefore it is not surprising to anyone that almost every fifth applicant wants to eventually enter the Faculty of Economics. But at the same time, many people do not even know the job responsibilities of an economist.
Who is it?
In short, an economist is a person who thoroughly understands the effective economic activities of the company. Thus, we can say that this is a related specialization of an accountant, financier, marketer and manager. For this reason, such professionals are in demand in any organization that requires competent calculation and planning of finances, as well as control over the costs of funds and a thorough analysis of the results of the company.
What are the responsibilities of an economist?
The main job responsibilities of an economist include the development and coordination of all the people who are responsible for completing planned tasks based on statistical reporting. A person with higher education, as well as a master's degree or a specialist in the field of "Economics", is appointed to this position.
In his work, a specialist in this profile is guided by the fact that the job responsibilities of an economist dictate to him. Moreover, both the appointment of such a person and his dismissal from work is carried out only on the basis of an order from the direct head of the company.
The main goal is maximum business efficiency
The main job responsibilities of an economist include economic activity a company clearly aimed at maximizing the profitability and efficiency of the company, improving the quality of products or services. Also, an economist is developing new types of markets to achieve extremely high results with the most optimal use of labor, financial and material resources, based on statistical reporting structural units of the company.
In addition, the duties of the economist at the enterprise include the preparation of initial data for the formation of projects for commercial activities and economic and financial production, as well as the creation of business plans to ensure growth in sales of products and, consequently, profits.
Also, the economist should calculate the material, financial and labor costs that are necessary for production, as well as subsequent sales of products or the development of new types of markets, advanced types of equipment and more modern technologies.
Saving
The job responsibilities of a leading economist include a thorough analysis of the business activities of the company, as well as individual structural units. In addition, a specialist in this field develops actions aimed at ensuring a saving regime, increasing the profitability of production, labor productivity, reducing the cost of production and sales of products. Opportunities are also identified for additional products.
The job responsibilities of an economist in a healthcare institution or other productive areas should determine the economic efficiency of labor organization and the production process, including the introduction of new technologies and techniques, as well as all kinds of rationalization inventions and proposals. Thus, the specialist is directly involved in the process of developing various production and business plans, based on statistical data on the work done from the field of resource conservation.
Paper work
An economist prepares materials for concluding contracts, and controls the timing of various obligations of the company. In parallel, the specialist is directly involved in marketing research, as well as in predicting the development of production.
The duties of an economist in a healthcare institution and any other enterprises include keeping records of economic indicators based on the results of the company’s activities for a certain period of time, and accounting for all contracts concluded. In parallel, he performs work related to calculations and ensuring control over the correctness of various settlement operations.
What should an economist know and be able to?
The duties of an economist in health care and any other areas of activity of specialists include the study of specialized literature related to the work performed, as well as to the developments made.
The economist must thoroughly know the laws, regulations, decrees, orders, other normative and methodological acts related to statistical planning, audit, accounting and analysis of the economic activity of the company. Also, this specialist must carefully understand the organization of the economic planning work, in the development of promising annual plans in the field of public financial activities of the company.
Job responsibilities of an economist public institution or any commercial structure provide that he has knowledge of the planning and accounting documentation, as well as the procedure for developing various business plans. At the same time, he must understand various regulatory materials, financial and labor costs, methods of economic analysis and statistical recording of indicators.
Among other things, the job responsibilities of an economist include, firstly, the study of production technology, the use of this or that equipment, and secondly, the assimilation of various management methods, the foundations of existing labor legislation, labor protection rules and standards.
What should an economist determine?
An economist should determine the economic efficiency of introducing various new equipment and advanced technologies, as well as methods and technologies for computing. He is engaged in the organization of operational accounting, the procedure and time for compiling reports, defines the rules for processing materials for compiling contracts.
Among other things, the specialist in this position is obliged to determine the domestic and foreign experience of the optimal organization of the economic activity of production in the current market economy.
The rights
The economist has the right to familiarize himself with any decisions that are relevant to his activities, while he can independently make any suggestions aimed at increasing labor within his official duties.
The economist has the right to warn management that he discovered any deficiencies in accounting. He can either independently or at the request of management ask other employees for various data related to his immediate job description. In addition, the specialist has the right to independently inform the management of various proposals that are aimed at improving the performance of his official duties.
A responsibility
Thinking about profit and responsibilities, many people forget what responsibility an ordinary or chief economist should bear. Job duties must be performed in full accordance with the instructions provided, because if they are not fulfilled, the specialist bears direct responsibility for this.
It also bears responsibility for various offenses that are committed during work and are within those boundaries that are determined by applicable administrative or criminal law.
Among other things, the economist, as a rule, is directly responsible for what material losses were incurred by the company in the process of his work in the given position.
How to identify a professional?
Considering the job duties of an economist of housing and communal services or other institutions, many do not know how to identify a professional in this field, for example, during employment. In fact, a professional economist should have several qualities:
- Ability to work hard for a long time.
- Principle and courage.
- Skill to defend the interests of the company in any conditions.
- Outstanding math skills.
- Accuracy.
- Clarity of action.
- Developed constructive and logical thinking.
- Emotional stability.
Professional suitability
Even before entering an educational institution as an economist, you should understand what exactly attracts you to business, as in the future there will be more opportunities to correctly plan your life and protect yourself from a wide variety of mistakes. It is natural that the vast majority of applicants are directed to a managerial or entrepreneurial position.
First of all, you should understand that having a diploma does not give any guarantee of success in the business sphere, since a lot will depend on the nature and aspiration, as well as on which activities you are predisposed to. Business determines a person’s logical thinking, ability to consider any possible perspectives, manage staff, but more importantly, take responsibility.
In addition, it is advisable that you discover the hidden opportunities on which the company is able to make money by assessing in advance the risks associated with this. It is the desire to get the maximum profit, as well as the ability to compare the estimated income with the risks and costs is the main essence of economic work in any field.