Apprenticeship

Senior professional economist (level 7)

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Information about Senior professional economist (level 7)

Design, implement, and lead programmes of economic analysis to support decision-making.

• Knowledge, skills and behaviours:
  View knowledge, skills and behaviours

  Knowledge

  • Economic theory, including micro-economic and macro-economic theories, and approaches to their application in analysing and solving complex problems in diverse contexts.
  • Advanced econometric techniques, such as micro-econometric methods, time series analysis, and panel data analysis, recognising their limitations and the appropriate contexts for their use.
  • Data quality and robustness, including approaches to assessing the robustness and quality of economic statistics, model-generated data, and external information.
  • Data visualisation and presentation, including advanced approaches to data visualisation and presentation, and approaches to the use of digital tools and channels to communicate complex information effectively.
  • Appraisal and evaluation techniques, such as cost-benefit analysis, cost-effectiveness analysis, multi-criteria decision analysis, and non-market valuation.
  • Features of economic models and policy implications, including competing economic models and their implications for policymaking, such as market failures, rationales for intervention, and business strategies.
  • Quality assurance in analysis, including approaches to developing and implementing quality assurance techniques to identify and mitigate risks to the quality of economic analysis.
  • The wider context affecting economic analysis, including political, economic, social, technological, legal, and environmental factors, the broader economics of biodiversity and climate change, and approaches to assessing their impact on stakeholders and analytical outcomes.
  • Strategic business objectives, including how to formulate and implement high-level business objectives and strategies to anticipate and meet the demands for economic analysis.

  Skills

  • Apply micro-economic and macro-economic theories and modelling, including econometrics, to inform recommendations for decision-makers.
  • Analyse policy or other questions by selecting the most appropriate analytical method, including consideration of key economic approaches where appropriate, such as non-market valuation methods, the counterfactual, opportunity cost, risk and uncertainty, and the estimation of discount rates and costs of capital.
  • Use digital tools and technologies, such as coding, Artificial Intelligence, and software packages, safely and securely, as relevant to the role.
  • Document, use, record, and store data and information relating to individuals securely and in line with legal and regulatory requirements, and local and national policies, including the safe use of digital technologies.
  • Carry out data analysis, including cleansing and manipulating data, identifying data limitations, and explaining them to stakeholders.
  • Use data visualisation techniques to explain concepts and implications to stakeholders to aid their understanding and facilitate decision-making.
  • Communicate economic principles and concepts to technical and non-technical stakeholders, present trade-offs and uncertainties and articulate these clearly, and frame advice, drawing on knowledge of stakeholders' positions, for maximum impact.
  • Research and critically assess available information sources, and judge their validity and usefulness in responding to economic challenges.
  • Critically assess economic analysis produced by others and suggest improvements.
  • Design and implement quality assurance processes, following organisational best practice and drawing on sources of external expertise.
  • Research and anticipate new trends, opportunities, technologies, and challenges that may influence outcomes of interest to clients.
  • Build and maintain relationships with stakeholders, including developing and utilising internal and external professional networks.
  • Deploy project management techniques, including managing delivery risks.
  • Promote compliance with regulations, legislation, and policies that support and promote equity, diversity, and inclusion in the workplace.
  • Identify, analyse, and communicate how impacts may vary across different social groups, including those with protected characteristics.

  Behaviours

  • Demonstrates ethical conduct when carrying out analysis, including attributing sources and ideas to their originators, and provides honest advice on all relevant aspects of an issue while avoiding bias.
  • Is proactive when solving problems, and seeks ideas for improvements and opportunities to apply analysis within the relevant organisational context.
  • Advocates for analysis and uses professional judgement to reach conclusions, even when evidence is incomplete.
  • Works collaboratively, including understanding others' points of view and adapting approaches accordingly, seeks to reconcile different views, builds trust with colleagues and clients, and shares ideas and work with other professionals.
  • Respects and appreciates diversity by listening to others' points of view, however challenging, inviting and considering feedback, and demonstrating awareness of the impact of language and non-verbal behaviour on others.
  • Takes a rigorous approach to analysis that strives for accuracy and detail in analytical outputs.
  • Leads others to deliver economic analysis outcomes.
• Training category (sector): Legal, finance and accounting
• Training level: 7; Equal to master’s degree
• Course duration: 24 months
• Maximum funding: £11,000 ; Maximum government funding for ; apprenticeship training and assessment costs.
• Job titles include:
  • Economic adviser
  • Economic consultant
  • Financial economist
  • Industrial economist
  • International economist
  • Labour economist
  • Macroeconomist
  • Senior economist
  • Senior professional economist
  • Trade economist
  • Agricultural economist
  • Climate change economist
  • Development economist
  • Energy economist
  • Environmental economist

View more information about Senior professional economist (level 7) from Skills England.