The Role of an Economist

An economist is used to look at your educational and work history to project your potential earnings capacity. The economist will also review earning tables created by governmental and private agencies in order to estimate your lifetime income. An economist’s other purpose is to calculate your future lost wages and earnings ability and reduce those amounts to present value. Present value is the value, in today’s dollars, of the amount of money that you could earn in the future if you invested your award. An economist who is familiar with interest rates and long-term investments is the best way for you to show the present value of these economic damages.