Developments in the investment world, changing technology, the rising inflation and biting market crisis has triggered the mind of many economists. This has prompted them to research on what an expert should have so as to maneuver through the hard moments. It is also the responsibility of the economist to analyze and give advice to the management. This calls for them to have smart mathematical skills. Therefore, in this demanding task, they need to have the skills as highlighted below.
Curiosity kills the problem
An economist who wants to make it big in the business world should always be curious. This includes looking at the surrounding and asking questions why something is happening. This will in turn trigger them to look for the right answers which will emerge as a big answer to a problem. Sample questions which have helped economists in the past include; what causes inflation, why are people poor and why certain policies are not working? This will help start an answer seeking expedition.
Christian Broda a lead economist
When it comes to giving tailor-made solutions to a company, there is need for one to bear the right information. This has been the case of Christian Broda who is the Managing Director of Duquesne Capital Management. He is highly skilled when it comes to different economic concepts. This is because over the years, he has done a lot of research and still remained creative when it comes to analysis. H Christian Broda writes with different publications which include American Economic Review, Quarterly Journal of Economics and the Journal of International Economics. Over the years, he has attracted a large readership base.
Knowledge on theories
The world of economics has been approached by various professionals using different theories. Some will cling on the Marxist’s way of argument while others will appear classical. Therefore, when making an argument, one should understand the applicable theory. This also comes with the knowledge of the theory which other specialists are using. An understanding of the principles and modeling approaches will be useful.
Analysis and interpretation skills
It is a fact that economics will involve figures and numbers. Therefore, a person needs a high understanding of the way different figures are related. The analytical skills will help come up with findings upon knowing how different statistics are relating. Understanding and interpreting the figures also become a crucial need. This helps know what is happening to the world of economics or in a company specifically. This is in relation to the response of the customer or the meaning of a certain buying pattern.
Forecasting the trend
The work of a specialist in this field involves study of figures and showing how they will affect a company in the future. This helps also in the development of policies which are helpful and timely. For a firm to respond on time, they need an analysis which will give a forecast. This involves knowing what will happen in the future in buying or selling trends. The forecast will also need to be communicated well thus need for concise communication skills. This helps one to remain effective and reliable all the time.