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Automation Risk Analysis

Will “Price Economist” be Automated?

Historical Context: Oxford Study (2013)

Ranked #282 of 702. Estimated risk: 43.0%

Directly assessed by researchers as unlikely to be automatable
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AI Exposure Risk

63%

“Price Economist” will maybe be replaced by AI.

Based on the cognitive demands, communication requirements, and logical reasoning intrinsic to this occupation according to O*NET data, we project a 63% probability of disruption by generative AI and Large Language Models.

Automation & Robot Risk

15%

“Price Economist” will almost certainly not be replaced by robots.

Evaluating the physical dexterity, repetitive motion tasks, and manual labor associated with this role, our analysis indicates a 15% likelihood of substitution by advanced robotics systems.

Personal & Financial Insights

Every occupation has a unique profile. For Economists, the Bureau of Labor Statistics and O*NET classify the day-to-day work broadly as: Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Avg. Annual Salary $130,910
Avg. Hourly Wage $62.94
Available Jobs (US) 15,880
Job Title & Hierarchy Code (SOC) Economists #19-3011
Wage vs. National Median
ℹ️

Data is based on the reference occupation: “Economists”

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Core Skills & Abilities

  • Supervise research projects and students' study projects.

  • Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy, and present recommendations based on cost-benefit analyses.

  • Review documents written by others.

  • Explain economic impact of policies to the public.

  • Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.

  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.

  • Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.

  • Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.

  • Teach theories, principles, and methods of economics.

  • Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.

  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.

  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.

  • Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.

  • Develop economic guidelines and standards, and prepare points of view used in forecasting trends and formulating economic policy.

Technologies & Software

  • Estima Regression Analysis of Time Series RATS
  • StataCorp Stata
  • Formula translation/translator FORTRAN
  • Structured query language SQL
  • Microsoft Visual Basic for Applications VBA
  • Minitab
  • Corel WordPerfect Office Suite
  • DeepSeek
  • Maplesoft Maple
  • Nova (Amazon)
  • IBM Lotus 1-2-3
  • TreeAge Software TreeAge Pro
  • Web browser software
  • Aptech Systems GAUSS
  • Semantic Scholar AI
  • Corel QuattroPro
  • Microsoft Visual C# .NET
  • Mozilla Firefox
  • Microsoft PowerPoint
  • Wolfram Research Mathematica
  • Claude (Anthropic)
  • ESRI ArcView
  • The MathWorks MATLAB
  • Elicit
  • Gemini (Google)
  • MediaWiki
  • Mathsoft Mathcad
  • Quantitative Micro Software EViews
  • Insightful S-PLUS
  • Llama (Meta)
  • Estimates Delivery System EDS
  • Qwen (Alibaba)
  • Camfit Data Limited Microfit
  • Oracle Java
  • Microsoft Excel
  • Teradata Database
  • Timberlake Consultants OxMetrics
  • Mistral (Mistral AI)
  • Microsoft Outlook
  • Microsoft Internet Explorer
  • Microsoft Visual Basic
  • Econometric Software LIMDEP
  • Grok (xAI)
  • LaTeX
  • ChatGPT (OpenAI)
  • Python
  • Gemini for Workspace
  • IBM SPSS Statistics
  • C++
  • Consensus
  • Tableau
  • Palisade @Risk
  • UNIX
  • Kimi (Moonshot AI)
  • R
  • MacKichan Software Scientific Notebook
  • Microsoft Word
  • Mistral AI (chat/models)
  • Microsoft Power BI
  • Statistical software
  • Global Insight AREMOS
  • Microsoft Access
  • UNIX Shell
  • Microsoft Office software
  • Perplexity AI
  • Microsoft SQL Server
  • SAS
  • MySQL
  • Scite AI
  • NotebookLM (Google)
  • Personal computers
  • Laptop computers
  • Desktop computers
  • Maintrame computers
  • Data scanners
  • 10-key calculators