Define: Economist

Business, Legal & Accounting Glossary

Definition: Economist


Quick Summary of Economist


An expert in the science of economics.



What is the dictionary definition of Economist?

Dictionary Definition


  1. An expert in economics, especially one who studies economic data and extracts higher-level information or proposes theories.
  2. One concerned with political economy.
  3. obsolete One who manages a household.
  4. One who economises, or manages domestic or other concerns with frugality; one who expends money, time, or labour, judiciously, and without waste.

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Full Definition of Economist


An economist is a professional in the field of economics, the social science that examines how individuals and societies use scarce resources.

Another definition of what an economist studies is the production, distribution, and consumption of goods. In the investment world, an economist focuses on forecasting the overall direction of a nation’s economy and its various facets, including interest rates, GNP growth, inflation (or deflation), and exchange rates. The inability of an economist to perform this function with consistent success is captured in the witticism “An economist is someone who has predicted nine of the past five recessions.” Thus, rather than rely on the predictions of any single economist, investors tend to look to consensus economic forecasts in making investment decisions. A professional economist will usually have at least a masters and more likely a doctorate in the economics field. In the past few decades, advanced mathematics, computing, and statistics have assumed an increasing role in the work of an economist. An econometrician is an economist who specializes in using such methods in testing economic theory and relationships.


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Synonyms For Economist


Economic Expert


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Economist. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 05, 2020 https://payrollheaven.com/define/economist/.
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Economist. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/economist/ (accessed: April 05, 2020).
American Psychological Association (APA):
Economist. PayrollHeaven.com. Retrieved April 05, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/economist/

Definition Sources


Definitions for Economist are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 4th April, 2020