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Senior professional economist

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KSBs

Knowledge

K1: Applied econometric techniques, such as micro-econometric techniques, time series and/or panel data, including limitations thereof. (1,2) Back to Duty

K2: Applications of micro-economic and macro-economic theory in a range of policy and business contexts. (1,3) Back to Duty

K3: Understanding the robustness and quality of economic statistics, model generated data and external information; data cleaning; hypothesis testing; the most relevant software and programming techniques; main requirements for successful survey design. (1,2,3,4,5,9) Back to Duty

K4: Appraisal and evaluation techniques, including cost-benefit analysis, multi-criteria decision analysis, real options and least regrets; and the underpinning tools that are required to conduct appraisals e.g. asset pricing models. (1,2) Back to Duty

K5: Non-market valuation techniques including willingness to pay/accept. (2) Back to Duty

K6: Topics from competing streams of economic thought and the implications they have for policies, e.g. market failures, rationale for intervention, and business strategies (1,2) Back to Duty

K7: Quality assurance techniques and sources of risks to quality of analysis (1,2,3,5,11) Back to Duty

K8: Team’s capacity to deliver – organisation specific processes for: securing additional resource from within and without the organisation; work planning and associated risk management techniques; and the demands from clients. (6,9,10,11) Back to Duty

K9: The wider context affecting the work area and how changes might affect clients and analysis. (7) Back to Duty

K10: Different communication styles and techniques; stakeholder theory; different ways of presenting data. (1,2,3,5,8) Back to Duty

K11: Techniques to assess how future political, economic, social, technological, legal and environmental developments could affect organisation, work programmes or clients (9). Back to Duty

K12: Understand high level business objectives and strategy in order to anticipate demands for economic analysis (9). Back to Duty

Skills

S1: Apply micro-economic and/or macro-economic theories and modelling, including econometric, to inform a range of business and policy decisions. (1,2) Back to Duty

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S2: Where appropriate convert the policy or other question into a tractable appraisal, evaluation or other analysis drawing on the most appropriate analytical method. And, where appropriate, consider: non-market valuation methods, the counterfactual, opportunity cost, risk and uncertainty and how to estimate discount rates and costs of capital. (2) Back to Duty

S3: Critically assess available information sources and judge validity and usefulness for the issue at hand; clean and manipulate data; be aware of data limitations and explain them; clearly describe and present data using data visualisation techniques; and draw out and explain policy and business implications to clients (1,2,3,4,5) Back to Duty

S4: Prioritise scarce resources, including own time, and focus work on areas of greatest impact; deploy project management techniques; negotiate for additional resources where appropriate; manage delivery risks; build and maintain relationships with colleagues and clients and develop and utilise internal and external networks (6,10) Back to Duty

S5: Scope areas of work identifying: objectives, analytical methods, resources required and potential delivery risks. Able to recognise when complementary expertise is required e.g. scientists, other social scientists and data specialists. (9) Back to Duty

S6: Use horizon scanning methodologies to anticipate new trends, opportunities and challenges that may influence outcomes of interest to client. (7) Back to Duty

S7: Clearly communicate economic principles and concepts to non-economists; present trade-offs and uncertainties and articulate these clearly; frame advice, drawing on knowledge of stakeholders’ positions, for maximum impact (1,2,3,7,8). Back to Duty

S8: Design Quality Assurance processes and implement these, following organisational best practices, and drawing on sources of external expertise; critically assess economic analysis and improve it. (11) Back to Duty

Behaviors

B1: Ethical conduct: analyst attributes sources and ideas to their originator; provides honest advice on all relevant aspects to an issue; avoids bias. (1,2,3,5) Back to Duty

B2: Proactive: seeks opportunities to apply analysis to policy and business problems; seeks ideas for improvements, such as new approaches and/or methods; looks beyond the narrow confines of a problem or opportunity when producing analysis; is a passionate advocate for analysis; uses professional judgement and reaches conclusions even when evidence is incomplete. (1,2,4,7,9,10) Back to Duty

B3: Collaborative: understands others point of view and adapts approach or ask; seeks to reconcile different views; builds trust with colleagues and clients; shares ideas and work with other professionals; respects and appreciates diversity; listens to others’ points of view, however challenging; invites and considers feedback; aware of the impact of language and non verbal behaviour on others. (4,6,7,8,9) Back to Duty

B4: Rigour: demonstrates a commitment to detail. (5,11) Back to Duty

B5: Leadership: leads others, including outside organisational structures, to deliver outcomes. (6) Back to Duty

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