Economic development coordinator

Economic development coordinators outline and implement policies for the improvement of a community’s, government’s or institution’s economic growth and stability. They research economic trends and coordinate cooperation between institutions working in economic development. They analyse potential economic risks and conflicts and develop plans to resolve them. Economic development coordinators advise on the economic sustainability of institutions and economic growth.

The following job titles also refer to economic development coordinator:

economist
regeneration manager
economic development officer
socio economic development coordinator
development consultant
development officer
economic development consultant
economic development coordinator
planning officer

Master’s degree is generally required to work as economic development coordinator. However, this requirement may differ in some countries.

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

• the nature of the work performed in an occupation in relation to the characteristic tasks and duties
• the level of formal education required for competent performance of the tasks and duties involved and
• the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Economic development coordinator is a Skill level 4 occupation.

These occupations, although different, require a lot of knowledge and skills similar to economic development coordinator.

economic adviser
regional development policy officer
competition policy officer
economic policy officer
community development officer

These occupations require some skills and knowledge of economic development coordinator. They also require other skills and knowledge, but at a higher ISCO skill level, meaning these occupations are accessible from a position of economic development coordinator with a significant experience and/or extensive training.

This knowledge should be acquired through learning to fulfill the role of economic development coordinator.

Government policy implementation: The procedures related to the application of government policies at all levels of public administration.
Public finance: The economic influence of the government, and the workings of government revenue and expenditures.
Economics: Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.

These skills are necessary for the role of economic development coordinator.

Maintain relations with local representatives: Maintain good relations with representatives of the local scientific, economic and civil society.
Liaise with local authorities: Maintain the liaison and exchange of information with regional or local authorities.
Advise on economic development: Advise organisations and institutions on the factors and steps they could take which would promote and ensure economic stability and growth.
Maintain relationships with government agencies: Establish and maintain cordial working relationships with peers in different governmental agencies.
Analyse economic trends: Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.
Develop economic policies: Develop strategies for economic stability and growth in an organisation, nation, or internationally, and for the improvement of trade practices and financial procedures.
Consider economic criteria in decision making: Develop proposals and take appropriate decisions taking into account economic criteria.
Assess risk factors: Determine the influence of economical, political and cultural risk factors and additional issues.
Advise on legislative acts: Advise officials in a legislature on the propositioning of new bills and the consideration of items of legislation.

This knowledge is sometimes, but not always, required for the role of economic development coordinator. However, mastering this knowledge allows you to have more opportunities for career development.

Financial forecasting: The tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.
Statistics: The study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments in order to forecast and plan work-related activities.
Market analysis: The field of market analysis and research and its particular research methods.

These skills and competences are sometimes, but not always, required for the role of economic development coordinator. However, mastering these skills and competences allows you to have more opportunities for career development.

Create solutions to problems: Solve problems which arise in planning, prioritising, organising, directing/facilitating action and evaluating performance. Use systematic processes of collecting, analysing, and synthesising information to evaluate current practice and generate new understandings about practice.
Manage government-funded programmes: Implement and monitor the development of projects subsidized by regional, national or European authorities.
Carry out strategic research: Research long term possibilities for improvements and plan steps to achieve them.
Analyse market financial trends: Monitor and forecast the tendencies of a financial market to move in a particular direction over time.
Apply statistical analysis techniques: Use models (descriptive or inferential statistics) and techniques (data mining or machine learning) for statistical analysis and ICT tools to analyse data, uncover correlations and forecast trends.
Ensure information transparency: Ensure that required or requested information is provided clearly and completely, in a manner which does not explicitly withhold information, to the public or requesting parties.
Advise on public finance: Advise public organisations such as governmental organisations on their financial operations and procedures, to ensure optimal efficiency.
Ensure cross-department cooperation: Guarantee communication and cooperation with all the entities and teams in a given organisation, according to the company strategy.
Carry out statistical forecasts: Undertake a systematic statistical examination of data representing past observed behaviour of the system to be forecast, including observations of useful predictors outside the system.
Develop professional network: Reach out to and meet up with people in a professional context. Find common ground and use your contacts for mutual benefit. Keep track of the people in your personal professional network and stay up to date on their activities.
Advise on government policy compliance: Advise organisations on how they may improve their compliance to the applicable government policies they are required to adhere to, and the necessary steps which need to be taken in order to ensure complete compliance.
Present reports: Display results, statistics and conclusions to an audience in a transparent and straightforward way.
Manage government policy implementation: Manage the operations of the implementation of new government policies or changes in existing policies on a national or regional level as well as the staff involved in the implementation procedure.

2631 – Economists

 

 

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References

1. Economic development coordinator – ESCO