On a senior professional economist apprenticeship course, you’ll help design, implement and lead economic analysis programmes to support decision-making.
A senior professional economist offers economic advice and analysis that helps those who receive it, such as governments, regulators, or banks, achieve better outcomes. Depending on your business, the position will need you to use your sophisticated economic knowledge and skills in various unforeseen situations.
You may advise governments and businesses on the significant impacts of climate change and mitigation measures, such as business reasons for extensive expenditure programmes or whether new laws should be implemented.
You will critically analyse, comprehend, and evaluate complex material wherever you work. You’ll need to understand various methods and select the appropriate one for the task, such as econometrics or data science.
A typical day may include client visits, project management, teamwork and leadership responsibilities, obtaining work from others, and overseeing and conducting desk-based analysis. Upon completion, you will be awarded a master’s degree.
What you’ll learn
On a senior professional economist apprenticeship course, you’ll learn to:
- Use the most appropriate analytical method to convert the policy or other problem, if relevant, into a tractable assessment, evaluation, or other study. Consider non-market valuation methods, the counterfactual, opportunity cost, risk and uncertainty, and, if appropriate, how to estimate discount rates and costs of capital.
- Analyse the quality and use of accessible information sources for the issue. Data should be cleaned and modified; data limitations should be recognised and explained; Clearly explain and show data using data visualisation techniques; as well as uncover and explain to customers the policy and commercial implications
- Prioritise limited resources, including one’s own time, and focus effort on areas with the most impact; use project management techniques; negotiate for more resources as required, and manage delivery risks. develop and use internal and external networks to interact with colleagues and clients
- Define work scope areas by specifying objectives, analytical methods, resources, and potential delivery risks. For example, scientists, other social scientists, and data specialists can recognise when more information is required.
- Use horizon scanning techniques to forecast future trends, opportunities, and challenges that may have an effect on client-relevant outcomes.
- Design and implement Quality Assurance processes while adhering to organisational best practices and depending on outside expertise; critically analyse and improve economic analyses.
You’ll usually need:
- Undergraduate economics degree or a level 6 professional economist apprenticeship or previous undergraduate degree and relevant experience.
- Apprentices without level 2 English and maths will need to achieve this before taking the end-point assessment.
The End Point Assessment comprises two distinct assessment methods:
- Work-based project
- Professional discussion underpinned by a portfolio
Duration and level
- Duration: 24 months
Level: 7 – Degree Apprenticeship
More information about the Level 7 Senior Professional Economist Apprenticeship standard can be found here.
Apprenticeship end point assessment
For more information about the End Point Assessment Process, please read the Institute of Apprenticeships’ information page.