Behavioral Economist Job Description [Updated for 2025]

In the era of data-driven decision-making, the focus on behavioral economists has never been more pronounced.

As our understanding of economic behavior evolves, the demand for insightful minds who can interpret, analyze, and apply this understanding to influence economic decisions grows stronger.

But let’s delve deeper: What’s truly expected from a behavioral economist?

Whether you are:

• An aspirant trying to understand the complexities of this role,
• A recruitment manager drafting the profile for the perfect candidate,
• Or simply fascinated by the interplay of psychology and economics,

You’ve come to the right place.

Today, we present a customizable behavioral economist job description template, designed for easy posting on job boards or career sites.

Let’s dive right in.

Behavioral Economist Duties and Responsibilities

Behavioral Economists apply their understanding of psychology and economics to evaluate economic decisions made by individuals and institutions.

They study how emotional, social, and cognitive factors affect economic decisions.

Here are the typical duties and responsibilities of a Behavioral Economist:

• Conducting research to understand the psychological factors that influence decision-making and economic behavior
• Applying behavioral economic theories to real-world issues
• Designing, conducting and analyzing experiments, both in the lab and field settings
• Developing economic models that incorporate elements of psychology to predict and explain economic behavior
• Utilizing statistical software to analyze data and forecast trends
• Publishing research findings in academic journals and presenting findings at conferences
• Advising businesses, governments, or other organizations on how to use insights from behavioral economics to improve decision-making and policy
• Teaching courses in behavioral economics, if employed in an academic setting

 

Behavioral Economist Job Description Template

Job Brief

We are looking for a skilled Behavioral Economist to join our team and help us understand the economic impacts of human behavior.

The Behavioral Economist will be responsible for conducting research, developing economic models, and providing insight into behavioral economics strategies.

The ideal candidate will have a solid understanding of microeconomics, a keen interest in human behavior, and the ability to translate complex data into actionable strategy.

 

Responsibilities

• Conduct extensive research on the economic impacts of human behavior
• Develop economic models that predict consumer behavior
• Design and implement experiments to test theoretical models
• Present research findings to stakeholders in a clear and concise manner
• Collaborate with multidisciplinary teams to develop behavioral economics strategies
• Stay up-to-date with the latest developments in the field of behavioral economics

 

Qualifications

• Advanced degree in Economics, Psychology, or a related field
• Proven work experience as a Behavioral Economist or similar role
• Experience with statistical analysis and economic modeling
• Strong understanding of microeconomics and the principles of behavioral economics
• Excellent research and analytical skills
• Strong presentation and communication skills
• Ability to work well on a team and independently

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Behavioral Economist
• Work Environment: Office setting with flexibility for remote work. Some travel may be required for research purposes or conferences.
• Reporting Structure: Reports to the Head of Research or Chief Economist.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $90,000 minimum to $160,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Behavioral Economist Do?

Behavioral Economists work in a specialized area of economics that studies the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions of individuals and institutions.

They use their understanding of human behavior to predict economic trends, create economic models, and advise policy makers on decision-making strategies.

They often collaborate with psychologists, sociologists, and other social scientists to understand human behaviors and how they affect economic systems.

Behavioral Economists conduct research, collect and analyze data, and use statistical software to interpret results.

They often participate in designing experiments to test theories about economic behavior, and they may use the results of these experiments to develop new economic models or to revise existing ones.

They can work in academia, for government agencies, consulting firms, financial institutions, or research organizations.

Their work can influence public policy, economic policy, and business strategies, making them integral to various sectors of society.

Behavioral Economists also publish their findings in academic journals, books, and other publications.

They may also present their research at conferences, seminars, and other professional gatherings.

Their role involves a constant balance of theoretical work and practical application, and requires a deep understanding of both economics and human behavior.

 

Behavioral Economist Qualifications and Skills

Behavioral Economists should possess a mixture of hard skills in economics and psychology, as well as soft skills to apply behavioral economic theories in practical situations.

The skills and qualifications needed include:

• A strong academic background in economics, social sciences or a related field to understand and apply theories of behavioral economics.
• Understanding of the psychological aspects that influence the decision-making processes of individuals and organizations.
• Ability to conduct rigorous research and data analysis, using statistical software and methodologies to interpret and present findings.
• Excellent communication skills to effectively convey complex economic concepts and findings to a non-specialist audience.
• Critical thinking and problem-solving abilities to identify trends and patterns in economic behavior and apply this knowledge to practical situations.
• Understanding of public policy and its relation to economic behavior to provide informed advice to policy makers and organizations.
• Strong ethical standards and the ability to remain unbiased while conducting research and presenting findings.
• Ability to work independently and collaboratively on research projects, with strong project management skills.

 

Behavioral Economist Experience Requirements

Entry-level Behavioral Economists typically need at least a Bachelor’s degree in economics or a related field, combined with 1 to 2 years of experience in an economic research or analyst role.

This experience could be through internships, part-time roles or assisting in research projects, ideally involving behavioral economics or related fields.

Candidates with more than 3 years of experience often have a Master’s degree or a PhD in Economics, Psychology, or Behavioral Science.

They are likely to have worked in roles such as Research Economist, Economic Analyst or Behavioral Scientist, where they have honed their skills in data analysis, economic modeling, experimental design, and statistical analysis.

Those with more than 5 years of experience may have notable research publications, and may have held leadership roles in research teams or policy-making bodies.

They are typically proficient in the application of behavioral economic principles in real-world settings and might have developed and evaluated economic policies.

This level of experience makes them suitable for senior or managerial roles in both public and private sector organizations.

Regardless of the level, it is beneficial if a Behavioral Economist has experience with statistical software and programming languages such as R or Python, and is comfortable with handling large datasets.

 

Behavioral Economist Education and Training Requirements

Behavioral Economists typically have a bachelor’s degree in economics, behavioral sciences, finance, or a related field.

Fundamental courses in mathematics, statistics, microeconomics, and macroeconomics are essential.

A good understanding of psychology and sociology can also be beneficial given the nature of this field.

Many positions, especially those in research or academia, require a master’s degree or a Ph.D. in Behavioral Economics or a related discipline.

These advanced degrees typically involve substantial research work, allowing candidates to specialize in specific areas of behavioral economics.

Experience with data analysis tools and methodologies, such as econometrics and predictive modeling, is also often necessary.

Familiarity with software like Stata, SPSS, or R can be a valuable asset.

Although not compulsory, certifications from recognized economic or financial institutions can enhance a candidate’s credentials.

These can demonstrate a candidate’s commitment to the field and provide additional skills and knowledge.

Continuous learning is important in this ever-evolving field.

Therefore, regular participation in seminars, workshops, and related courses can help Behavioral Economists stay updated with the latest theories and applications.

 

Behavioral Economist Salary Expectations

The average salary for a Behavioral Economist is $102,000 (USD) per year.

However, this figure can differ based on factors such as the level of academic qualifications, years of experience in the field, the complexity of tasks handled, and the geographic location of the job.

 

Behavioral Economist Job Description FAQs

What skills does a Behavioral Economist need?

Behavioral Economists need strong analytical skills, as they are required to interpret vast amounts of data and identify trends.

They should also have excellent problem-solving skills to develop economic models and propose solutions.

Communication skills are crucial in this role as they need to present complex economic concepts in an understandable way to various audiences.

Knowledge of statistical software like SPSS or Stata may also be required.

 

Do Behavioral Economists need a degree?

Yes, a Behavioral Economist typically requires a master’s degree or a Ph.D. in Economics, Behavioral Economics, or a related field.

An undergraduate degree in economics, psychology, sociology, or mathematics can also provide a solid foundation for this role.

Some positions might accept significant work experience in lieu of advanced education.

 

What should you look for in a Behavioral Economist resume?

A strong Behavioral Economist resume should show an advanced degree in a relevant field, and substantial experience in analyzing and interpreting complex data.

It should also show experience in creating economic models and applying economic theories.

Proficiency in statistical software, project management experience, and published research in the field of behavioral economics can be additional advantages.

 

What qualities make a good Behavioral Economist?

Good Behavioral Economists are detail-oriented and have a keen interest in understanding human behavior.

They should be curious and creative, capable of designing innovative research methods.

Excellent communication skills are also important, as they often need to present their findings to non-economists.

They should also be comfortable working in a team and have good organizational skills to manage multiple projects simultaneously.

 

What are the daily duties of a Behavioral Economist?

The daily duties of a Behavioral Economist can vary greatly depending on the specific role and organization.

However, typical tasks might include conducting research, analyzing data, developing economic models, writing reports, and presenting findings.

They may also be involved in designing and implementing policies, consulting on business strategies, or teaching at an academic institution.

 

Conclusion

And there you have it.

Today, we’ve offered a glimpse into the fascinating world of a behavioral economist.

Surprise, surprise!

It’s not just about understanding economic models.

It’s about shaping economic outcomes, one behavioral insight at a time.

With our dependable behavioral economist job description template and tangible examples, you’re ready to make an impact.

But don’t just stop there.

Delve deeper with our job description generator. It’s your go-to tool for crafting immaculate job listings or polishing your resume to perfection.

Remember:

Every behavioral insight is a piece of the grand economic puzzle.

Let’s solve that puzzle. Together.

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