Note: Provided below is a job class description and minimum qualification. To view this information for other State of Colorado positions, please visit the job classifications and minimum qualifications page.
Class Description
Valid as of: July 1, 2024
This class series uses five levels in the Professional Services Occupational Group and describes professional work in economics related to one or more sectors of the state's economy. The work involves applying the theories and principles of the field of economics in areas such as labor market analysis and forecasting, large scale macroeconomic forecasting, tax and expenditure analysis, and economic requirements of utilities. Positions produce economic assessments and analyses of programs, strategies, and policies of an agency for managers, directors, and commissions or boards to guide their decisions. Economists may be involved in litigation as an expert witness or advisor. Positions in this class are responsible for providing performing financial analysis and business support in accordance with applicable policies, procedures, and business needs. The primary objective of this class is to provide forecasting and analytical support through generating, validating, and enhancing forecast models, analyzing forecast accuracy results, and presenting statistical output.
Professional work is analytical and evaluative in nature. Decisions require the creative and conceptual application of theory and principles of a professional occupational field. A professional field is one in which knowledge is gained by completion of an advanced course of study resulting in a college degree or equivalent specialized experience. The professional nature of the work and the factors determine the level within this series.
ECONOMIST I (H1P1XX)
Concept of Class
This class describes the intermediate level. Positions operate independently in performing assignments that are limited to phases of a fully operational professional assignment or which may be designed to provide continued training and experience. Duties involve learning to apply the economic theory, principles, and models to research or to analyze practical applications to the economic impacts of public policies including, but not limited to areas such as population changes, capital investment, labor market shifts, resource and capital consumption, and rates of return, on a state or regional basis. Work requires determining solutions to practical problems using specified professional standards and established criteria. Judgment is used to select and apply existing guidelines to solve problems and accomplish the assignment. Positions in this class participate in economic studies and analyses with positions in other disciplines, such as engineers, accountants, financial auditors, etc. Positions function under agency practices and procedures and their work is reviewed on a periodic basis for progress towards stated work products. The duties are typically limited to one segment of the economic program, strategy, policy, or market, such as the energy resources market. Some assignments will not move beyond this level.
Factors
Allocation must be based on meeting all of the three factors as described below.
Decision Making
The decisions regularly made are at the operational level, as described here. Within limits set by the specific process, choices involve deciding what operation is required to carry out the process. This includes determining how the operation will be completed. By nature, data needed to make decisions are numerous and variable so reasoning is needed to develop the practical course of action within the established process. Choices are within a range of specified, acceptable standards, alternatives, and technical practices. For example, this position may be responsible for deciding whether to use federal, state, or private industry economic data in analyzing a utility pricing structure. Such decisions may relate to how to validate economic data or sources, which economic data elements to include or exclude in an analysis, or how to resolve contradicting economic data.
Complexity
The nature of, and need for, analysis and judgment is patterned, as described here. Positions study technical information to determine what it means and how it fits together in order to get practical solutions to problems and tasks. Guidelines in the form specified processes, techniques, and methods exist for most situations. Judgment is needed in locating and selecting the most appropriate of these guidelines which may change for varying circumstances as the task is repeated. For example, positions draft standard leases and legal documents and alter standard forms to include provisions or restrictions that fit specific circumstances. This selection and interpretation of guidelines involves choosing from alternatives where all are correct but one is better than another depending on the given circumstances of the situation. An example of such is judging the most appropriate regional boundaries to use in a labor market study, or the best data series to use for estimating demand for energy.
Line/Staff Authority
The direct field of influence the work of a position has on the organization is as an individual contributor. The individual contributor may explain work processes and train others. The individual contributor may serve as a resource or guide by advising others on how to use processes within a system or as a member of a collaborative problem-solving team. This level may include positions performing supervisory elements that do not fully meet the criteria for the next level in this factor. Note: some positions may lead or supervise others; however, those subordinate positions are not professionals so the position does not meet all of the criteria for a higher level of Line/Staff Authority in this class series.
ECONOMIST II (H1P2XX)
Concept of Class
This class describes the fully operational professional. Positions operate independently in performing the full range of professional tasks. Work requires the use of discretion and creativity within limits of theory and principles of the profession; management’s program objectives; law and regulations; and, general systems and guidelines. Judgment is used in the adaptation and skilled application of guidelines to solve the full range of problems related to the assignment. An employee in this class must anticipate and analyze the impact and consequences of decisions made. Positions may serve as a resource to others or a specialist in the professional field. Positions in this class are expected to apply economic principles, models, and techniques in providing economic analyses of agency programs or policies. The economic analysis performed may include the use of multiple econometric and mathematical models using data from differing sources. The work typically involves analysis of more than one segment of the program or market. Positions are expected to provide complete economic projections or trend data upon which management decisions are made on programs and policies, and to be able to defend their conclusions and recommendations during critical peer reviews.
This class differs from the Economist I on Decision Making and Complexity. Some assignments will not move beyond this level.
Factors
Allocation must be based on meeting all of the three factors as described below.
Decision Making
The decisions regularly made are at the process level, as described here. Within limits set by professional standards, the agency's available technology and resources, and program objectives and regulations established by a higher management level, choices involve determining the process, including designing the set of operations. For example, when an agency analyses rate structures, this position may make decisions on the economic treatment of new services. The general pattern, program or system exists but must be individualized.
This individualization requires analysis of data that is complicated. Analysis is breaking the problem or case into parts, examining these parts, and reaching conclusions that result in work processes. This examination requires the application of known and established theory, principles, conceptual models, professional standards, and precedents in order to determine their relationship to the problem. New processes or objectives require approval of higher management or the agency with authority and accountability for the program or system.
Complexity
The nature of, and need for, analysis and judgment is formulative, as described here. Positions evaluate the relevance and importance of theories, concepts, and principles in order to tailor them to develop a different approach or plan to fit specific circumstances. While general policy, precedent, or non-specific practices exist, they are inadequate and are therefore relevant only through approximation or analogy. For example, this position may adapt economic theory and apply it to the demand for utility services during periods of changing environmental policy. In conjunction with theories, concepts, and principles, positions use judgment and resourcefulness in tailoring the existing guidelines so they can be applied to particular circumstances and to deal with emergencies.
Line/Staff Authority
The direct field of influence the work of a position has on the organization is as an individual contributor. The individual contributor may explain work processes and train others. The individual contributor may serve as a resource or guide by advising others on how to use processes within a system or as a member of a collaborative problem-solving team. This level may include positions performing supervisory elements that do not fully meet the criteria for the next level in this factor. Note: some positions may lead or supervise others; however, those subordinate positions are not professionals so the position does not meet all of the criteria for a higher level of Line/Staff Authority in this class series.
ECONOMIST III (H1P3XX)
Concept of Class
This class describes the work leader or the staff authority. Work leaders exercise some control over the continual work product of others. Staff authorities possess a unique level of knowledge and expertise in a professional field that is needed by the agency to support its overall mission. Agency management routinely relies on the essential consultation of the authority before deciding broad, critical program and policy direction. The consultation provided is accepted as fact and not refuted on its technical merit, even if management does not act on it for political or budgetary reasons. Staff authorities are authorized to take action and issue expert opinions that provide direction for further action by others. Authorities design strategy, systems, processes, guidelines, rules, and standards that are mission critical and directly impact the agency’s ongoing operation and broad program or policy. Staff authority is delegated by agency management, beyond the immediate supervisor, and has direct influence and impact agency-wide, including clients.
This class differs from the Economist II on Line/Staff Authority and possibly Complexity.
Factors
Allocation must be based on meeting all of the three factors as described below.
Decision Making
The decisions regularly made are at the process level, as described here. Within limits set by professional standards, the agency's available technology and resources, and program objectives and regulations established by a higher management level, choices involve determining the process, including designing the set of operations. For example, when an agency analyzes rate structures, this position may make decisions on the economic treatment of new services. The general pattern, program or system exists but must be individualized.
This individualization requires analysis of data that is complicated. Analysis is breaking the problem or case into parts, examining these parts, and reaching conclusions that result in work processes. This examination requires the application of known and established theory, principles, conceptual models, professional standards, and precedents in order to determine their relationship to the problem. New processes or objectives require approval of higher management or the agency with authority and accountability for the program or system.
Complexity
The nature of, and need for, analysis and judgment is formulative, as described here. Positions evaluate the relevance and importance of theories, concepts, and principles in order to tailor them to develop a different approach or plan to fit specific circumstances. While general policy, precedent, or non-specific practices exist, they are inadequate and are therefore relevant only through approximation or analogy. For example, this position may adapt economic theory and apply it to the demand for utility services during periods of changing environmental policy. In conjunction with theories, concepts, and principles, positions use judgment and resourcefulness in tailoring the existing guidelines so they can be applied to particular circumstances and to deal with emergencies.
OR
The nature of, and need for, analysis and judgment is strategic, as described here. Positions develop guidelines to implement a program that maintains the agency’s mission. Guidelines do not exist for most situations. In directive situations, positions use judgment and resourcefulness to interpret circumstances in a variety of situations and establish guidelines that direct how a departmental/agency program will be implemented.
Line/Staff Authority
The direct field of influence the work of a position has on the organization is as a work leader or staff authority. The work leader is partially accountable for the work product of two or more full-time equivalent positions, including timeliness, correctness, and soundness. At least one of the subordinate positions must be a professional level in the same series or at a comparable conceptual level. Typical elements of direct control over other positions by a work leader include assigning tasks, monitoring progress and workflow, checking the product, scheduling work, and establishing work standards. The work leader provides input into supervisory decisions made at higher levels, including signing leave requests and approving work hours. This level may include positions performing supervisory elements that do not fully meet the criteria for the next level in this factor.
OR
The staff authority is a pacesetter who has a unique level of technical expertise in a field or profession that, as part of the ongoing permanent assignment, is critical to the success of an agency. It is an essential component of the work assignment that has been delegated by management to the position. This authority directly influences management decisions within an agency. For example, management relies on such a position when making decisions regarding the direction that policy or a program should take in the staff authority’s field of expertise. Managers and peers recognize and seek this level of technical guidance and direction regarding the application of a program or system within the agency or to its clients.
ECONOMIST IV (H1P4XX)
Concept of Class
This class describes the unit supervisor or senior authority. Supervisors exercise direct, formal control over others. Senior authorities possess a unique level of knowledge and expertise in a professional field that is needed by the agency to support its overall mission. Agency management routinely relies on the essential consultation of the authority before deciding broad, critical program and policy direction. The consultation provided is accepted as fact and not refuted on its technical merit, even if management does not act on it for political or budgetary reasons. Senior authorities are authorized to take action and issue expert opinions that provide direction for further action by others. Authorities design strategy, systems, processes, guidelines, rules, and standards that are mission critical and directly impact the agency’s ongoing operation and broad program or policy. Senior authority is delegated by agency management, beyond the immediate supervisor, and has direct influence and impact outside the agency to others in state government.
This class differs from the Economist III on Line/Staff Authority and possibly Complexity.
Factors
Allocation must be based on meeting all of the three factors.
Decision Making
The decisions regularly made are at the process level, as described here. Within limits set by professional standards, the agency's available technology and resources, and program objectives and regulations established by a higher management level, choices involve determining the process, including designing the set of operations. For example, when an agency analyses rate structures, this position may make decisions on the economic treatment of new services. The general pattern, program or system exists but must be individualized.
This individualization requires analysis of data that is complicated. Analysis is breaking the problem or case into parts, examining these parts, and reaching conclusions that result in work processes. This examination requires the application of known and established theory, principles, conceptual models, professional standards, and precedents in order to determine their relationship to the problem. New processes or objectives require approval of higher management or the agency with authority and accountability for the program or system.
Complexity
The nature of, and need for, analysis and judgment is formulative, as described here. Positions evaluate the relevance and importance of theories, concepts, and principles in order to tailor them to develop a different approach or plan to fit specific circumstances. While general policy, precedent, or non-specific practices exist, they are inadequate and are therefore relevant only through approximation or analogy. For example, this position may adapt economic theory and apply it to the demand for utility services during periods of changing environmental policy. In conjunction with theories, concepts, and principles, positions use judgment and resourcefulness in tailoring the existing guidelines so they can be applied to particular circumstances and to deal with emergencies.
OR
The nature of, and need for, analysis and judgment is strategic, as described here. Positions develop guidelines to implement a program that maintains the agency’s mission. Guidelines do not exist for most situations. In directive situations, positions use judgment and resourcefulness to interpret circumstances in a variety of situations and establish guidelines that direct how a departmental/agency program will be implemented.
Line/Staff Authority
The direct field of influence the work of a position has on the organization is as a unit supervisor or senior authority. The unit supervisor is accountable, including signature authority, for actions and decisions that directly impact pay, status, and tenure of three or more full-time equivalent positions. At least one of the subordinate positions must be a professional level in the same series or at a comparable conceptual level. The elements of formal supervision must include providing documentation to support recommended corrective and disciplinary actions, signing performance plans and appraisals, and resolving informal grievances. Positions start the hiring process, interview applicants, and recommend hire, promotion, or transfer.
OR
The senior authority is a pacesetter who has a unique level of technical expertise in a field or profession that, as part of the ongoing permanent assignment, is critical to the success of an agency. It is an essential component of the work assignment that has been delegated by management to the position. This authority directly influences management decisions beyond the agency. Managers and peers seek this level of technical guidance and direction as the designer of a statewide system or in a subject area for other areas of state government. Managers and peers, both internally and externally to the agency, rely on this pacesetter when making decisions regarding the direction that policy, programs, and systems should take in the pacesetter’s field of expertise.
ECONOMIST V (H1P5XX)
Concept of Class
This class describes the first-level of program supervision, including the unit supervisor or any one of the three levels of staff authority who meets the factors identified below for this class. Program supervisors manage the daily operation of a work unit. Positions determine the annual business plans that integrate with the agency’s mission and goals, determine implementation policies and guidelines, develop budgets, establish staffing and directly control the work of others. Work involves directing the implementation of policies, rules, and regulations. Staff, senior, and leading authorities possess a unique level of knowledge and expertise in a professional field that is needed by the agency to support its overall mission. Management, inside and/or outside of the agency, routinely relies on the essential consultation of the authority before deciding broad, critical program and policy direction. The consultation provided is accepted as fact and not refuted on its technical merit, even if management does not act on it for political or budgetary reasons.
Authorities are authorized to take action and issue expert opinions that provide direction for further action by others. Authorities design strategy, systems, processes, guidelines, rules, and standards that are mission critical and directly impact the agency’s ongoing operation and broad program or policy. Staff, senior, and leading authority is delegated by agency management, beyond the immediate supervisor, and has direct influence and impact within or beyond the agency depending on the level of authority delegated to a position.
This class differs from the Economist IV on Decision Making and possibly Complexity and Line/Staff Authority.
Factors
Allocation must be based on meeting all of the three factors.
Decision Making
The decisions regularly made are at the interpretive level, as described here. Within limits of the strategic master plan and allocated human and fiscal resources, choices involve determining plans to achieve the objectives established by the highest management level. This involves establishing what processes will be done, developing the budget, and developing the staffing patterns and work units in order to deploy staff. This level includes inventing and changing systems and guidelines that will be applied by others statewide. For example, authorities design the strategy, system, process, guidelines, rules and standards that are used by others in state government. While an authority may not directly supervise staff or a budget, such a position is often involved in formulation of budgets and staffing patterns as part of the design of a system. By nature, this is the first level where positions are not bound by processes and operations in their own programs as a framework for decision making and there are novel or unique situations which cause uncertainties that must be addressed at this level. Through deliberate analysis and experience with these unique situations, the manager or expert determines the systems, guidelines, and programs for the future. For example, this position may be responsible for making decisions on which economic analysis is to be used, the staff devoted to it, and the budget necessary to accomplish the review, proposals, and settlements on rate cases. Another example is an expert labor economist who decides the guidelines to be used in reporting labor market changes in a new service industry.
Complexity
The nature of, and need for, analysis and judgment is formulative, as described here. Positions evaluate the relevance and importance of theories, concepts, and principles in order to tailor them to develop a different approach or plan to fit specific circumstances. While general policy, precedent, or non-specific practices exist, they are inadequate and are therefore relevant only through approximation or analogy. For example, this position may adapt economic theory and apply it to the demand for utility services during periods of changing environmental policy. In conjunction with theories, concepts, and principles, positions use judgment and resourcefulness in tailoring the existing guidelines so they can be applied to particular circumstances and to deal with emergencies.
OR
The nature of, and need for, analysis and judgment is strategic, as described here. Positions develop guidelines to implement a program that maintains the agency’s mission. Guidelines do not exist for most situations. In directive situations, positions use judgment and resourcefulness to interpret circumstances in a variety of situations and establish guidelines that direct how a departmental/agency program will be implemented.
OR
For a leading authority, the nature of, and need for, analysis and judgment is unprecedented, as described here. Positions originate models, concepts, and theories that are new to the professional field AND where no prototype exists in state government. At the leading edge, guidelines do not exist so judgment and resourcefulness are needed to develop them.
Line/Staff Authority
The direct field of influence the work of a position has on the organization is as a unit supervisor or one of the levels of staff authority. The unit supervisor is accountable, including signature authority, for actions and decisions that directly impact pay, status, and tenure of three or more full-time equivalent positions. At least one of the subordinate positions must be a professional level in the same series or at a comparable conceptual level. The elements of formal supervision must include providing documentation to support recommended corrective and disciplinary actions, signing performance plans and appraisals, and resolving informal grievances. Positions start the hiring process, interview applicants, and recommend hire, promotion, or transfer.
OR
The staff, senior, or leading authority is a pacesetter who has a unique level of technical expertise in a field or profession that, as part of the ongoing permanent assignment, is critical to the success of an agency. It is an essential component of the work assignment that has been delegated by management to the position. This authority directly influences management decisions within the agency (staff), within state government agencies (senior), or in the profession itself outside of state government (leading). Management relies on such a position when making decisions regarding the direction that policy or a program should take in the staff authority’s field of expertise. Managers and peers recognize and seek this level of technical guidance and direction regarding the application of a program or system within the agency or to its clients, as the designer of a statewide system or in a subject area for other areas of state government, or as a consultant to management regionally or nationally. Managers and peers, internally (staff) or externally to the agency (senior) or state (leading) rely on this pacesetter when making decisions regarding the direction that policy, programs, and systems should take in the pacesetter’s field of expertise.
Entrance Requirements
Minimum entry requirements and general competencies for classes in this series are contained in the class minimum qualifications document.
For purposes of the Americans with Disabilities Act Amendments Act (ADAAA), the essential functions of specific positions are identified in the position description questionnaires and job analyses.
History of Changes Made to Class Description
The following is a summary of changes made to this class description.
- July 1, 2018
Effective 7/1/18: Update the Class Code of H1P2XX, H1P3XX, H1P4XX, H1P5XX, H1P6XX to H1P1XX, H1P2XX, H1P3XX, H1P4XX, H1P5XX per administrative updates.
- July 1, 2016
Effective 07/01/2016 (SMS). General Professional Study; deconsolidation and abolishment of General Professional series.
- 2012
Effective 2012. Job Evaluation System Revision project removed the “Purpose of Contact” from Job Evaluation.
- Sept. 1, 1993
Effective 9/1/93 (DLF). Job Evaluation System Revision project. Published as proposed 4/5/93.
- July 1, 1979
Created 7/1/79. Economist A1B1C (Al551-3) and Principal Economist (A1555).
- July 1, 1979
Revised 7/1/79. Changed title, Senior Economist (A1554).
- Oct. 1, 1978
Created 10/1/78. Senior Economist (A1554).
Summary of Factor Ratings
| Class Level | Decision Making | Complexity | Line/Staff Authority |
|---|---|---|---|
| Economist I | Operational | Patterned | Individual Contributor |
| Economist II | Process | Formulative | Individual Contributor |
| Economist III | Process | Formulative or Strategic | Work Leader or Staff Authority |
| Economist IV | Process | Formulative or Strategic | Unit Supervisor or Senior Authority |
| Economist V | Interpretive | Formulative, Strategic, or Unprecedented* | Unit Supervisor, Staff Authority, Senior Authority, or Leading Authority |
*Note: A leading authority must be unprecedented in Complexity.
Minimum Qualifications
Valid as of: July 1, 2024
This document includes the following levels:
| Class Title | Class Code |
|---|---|
| Economist I | H1P1XX |
| Economist II | H1P2XX |
| Economist III | H1P3XX |
| Economist IV | H1P4XX |
| Economist V | H1P5XX |
ECONOMIST I (H1P1XX)
Experience Only:
- Five (5) years of relevant experience in an occupation related to the work assigned to this position
OR
Education & Experience:
- A combination of related education and/or relevant experience in an occupation related to the work assigned equal to five (5) years
ECONOMIST II (H1P2XX)
Experience Only:
- Six (6) years of relevant experience in an occupation related to the work assigned to this position
OR
Education & Experience:
- A combination of related education and/or relevant experience in an occupation related to the work assigned equal to six (6) years
ECONOMIST III (H1P3XX)
Experience Only:
- Seven (7) years of relevant experience in an occupation related to the work assigned to this position
OR
Education & Experience:
- A combination of related education and/or relevant experience in an occupation related to the work assigned equal to seven (7) years
ECONOMIST IV (H1P4XX)
Experience Only:
- Eight (8) years of relevant experience in an occupation related to the work assigned to this position
OR
Education & Experience:
- A combination of related education and/or relevant experience in an occupation related to the work assigned equal to eight (8) years
ECONOMIST V (H1P5XX)
Experience Only:
- Nine (9) years of relevant experience in an occupation related to the work assigned to this position
OR
Education & Experience:
- A combination of related education and/or relevant experience in an occupation related to the work assigned equal to nine (9) years
History of Changes Made to Minimum Qualification
The following is a summary of changes made to this minimum qualification.
- Mar. 1, 2017 (Whole Document)
- Part of the 2017 MQ Project
- New format
- Apr. 4, 2017 (Whole Document)
- Made language consistent with a year-for-year approach to substitutions for both education and experience
- Language referring to, “at the agency’s discretion,” was removed
- Apr. 4, 2017 (H1P5XX, H1P6XX)
- Removed ‘additional higher level and/or special experience’ language
- Oct. 20, 2017 (Whole Document)
- Made grammatical changes
- July 1, 2018 (H1P2XX changed to H1P1XX)
- Review and correction of the classification codes to align with the 2018-19 pay plan and compensation grades approved by the CHRO
- July 1, 2018 (H1P3XX changed to H2P2XX)
- Review and correction of the classification codes to align with the 2018-19 pay plan and compensation grades approved by the CHRO
- July 1, 2018 (H1P4XX changed to H1P3XX)
- Review and correction of the classification codes to align with the 2018-19 pay plan and compensation grades approved by the CHRO
- July 1, 2018 (H1P5XX changed to H1P4XX)
- Review and correction of the classification codes to align with the 2018-19 pay plan and compensation grades approved by the CHRO
- July 1, 2018 (H1P6XX change to H1P5XX)
- Review and correction of the classification codes to align with the 2018-19 pay plan and compensation grades approved by the CHRO
- Feb. 21, 2024 (Whole Document)
- New format (updating to adhere to accessibility standards)
- Updated minimum qualifications to align with the Skills-based Hiring initiative