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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

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

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

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

  • 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.

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

  • 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.

  • Review documents written by others.

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

  • 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.

  • Teach theories, principles, and methods of economics.

  • Explain economic impact of policies to the public.

  • Supervise research projects and students' study projects.

Technologies & Software

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