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State of Washington Classified Job Specification

ECONOMIC ANALYST 1

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ECONOMIC ANALYST 1
502J
Category: Science & Engineering

Definition

Within an agency's economic research organization, conducts studies of economic impact analysis in areas such as revenue estimation and forecasting, taxation analysis, business regulation and marketing analysis, foreign trade, economic development, public finance, labor economics, or regional economics.  The major focus of economic impact analysis studies is to predict or measure impacts of a variety of conditions affecting the State's economy.  The conduct of such studies is characterized by the following aspects: 

(1)   receipt of questions raised by the Legislature, executive office, or agency management which require investigation of cause-effect relationships; 

(2)   determination of what information and procedures are required to answer such questions;  

(3)   performance of mathematical and logical analyses requiring the application of economic theory, principles, and techniques at a sophisticated and specialized level; and, 

(4)   interpretation of results, and oral and/or written presentation of conclusions and recommendations to the inquirer(s).

Distinguishing Characteristics

Under limited supervision, positions at the Economic Analyst 1 level, conduct segments of major economic impact studies conceptualized and designed by higher level Economic Analysts; and/or, assist a higher level Economic Analyst in all aspects of studies conducted within a principal program area of economic analysis.

Typical Work

Under general supervision and given guidelines, conducts economic and/or tax studies and analysis; assesses present and expected future course of State's economy; measures and predicts outcome of a variety of economic conditions;

Assists with planning, data identification and gathering, analysis and report preparation in major studies involving estimation and forecasting; plans and conducts minor studies; 

Assists in development of methodologies for measurement, estimation, and forecasting of economic trends and impacts and for determining their reliability;  

In the development of economic estimates and forecasts, analyzes and reviews for reliability, reasonableness, accuracy and consistency, both basic data and estimates or forecasts; compiles assigned quantitative calculations for revision, updating and testing of revenue estimating or economic development models;  

Prepares economic and tax impact analysis of proposed legislation; develops methodology and research for estimating fiscal impact on State and local government; testifies at legislative hearings on results;  

Prepares and presents assigned technical reports, conclusions and recommendations; 

Provides consulting details to other staff and agencies; makes impact analysis of proposed changes to economic models;  

Compiles economic research required to formulate equations for use in State economic projections and simulation models;  

Prepares economic analysis of excise and property tax data in response to special requests by local government, business firms, academic community, etc.;  

Assists with the preparation of long-term baseline forecasts of State and regional economic levels; prepares forecasts of designated sources of State tax revenue;  

As a regional departmental representative and economist, serves as a source of economic information for the region, serving on committees and boards, initiating studies, and coordinating departmental activities with user needs;  

As assigned, serves as a member of committees or boards with the purpose of coordinating economic estimates and forecasts;  

As assigned, responds to or refers questions concerning economic data, trends, and impacts;  

Performs other work as required.

Legal Requirement(s)

There may be instances where individual positions must have additional licenses or certification. It is the employer’s responsibility to ensure the appropriate licenses/certifications are obtained for each position. 

Desirable Qualifications

A Master's degree or equivalent in a Ph.D. program in economics, public finance or closely allied field. 

AND 

One year of professional experience in economic analysis. 

Professional experience in economic analysis may be substituted, year for year, for the required education, provided a Bachelor's degree in economics, public finance, or closely allied field has been obtained. 

Additional graduate training in economics or public finance may be substituted, year for year, for experience.

Class Specification History

New class adopted July 13, 1970.
Revise class. Revises minimum qualifications adopted April 18, 1974.
Revise class. Revises title (formerly Economist III), definition, distinguishing characteristics, minimum qualifications; August 10, 1979.
Revise class. Revises class code (formerly 04470); adopted May 10, 2007, effective July 1, 2007.

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