Economist (ESCB/IO) - External Developments

Analysis and Policy Advice
International & European Relations
You can no longer apply

General Information

Type of contract Short-term contract, which may be extended to up to 36 months subject to individual performance and organisational needs

Contract end date 30.06.2023

Who can apply? EU nationals working for national central banks of the ESCB, international governmental organisations or other employers performing central banking or banking supervision tasks within the framework of the Eurosystem

Salary F/G (bracket 1 - step 1) full time monthly net salary: €6,909 plus benefits, for further information see what we offer.

Role specialisation Economics and Monetary Policy

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 28.02.2022

Your team

You will be part of the External Developments Division in the Directorate General International & European Relations at the European Central Bank (ECB). Our Division has about 28 staff in charge of monitoring, analysing and forecasting macroeconomic developments in non-EU countries and the global economy and trade.

Currently, we are working on understanding several key international macroeconomic developments relating to the ongoing pandemic, such as the persistence of supply bottlenecks, the tightness of labour markets in key advanced economies, the quantification of international spillovers from policy decisions in systemically important non-EU economies, like the US and China, to name just a few.

You will be part of a team that analyses economic conditions in key countries outside the European Union (EU) and monitors the global cyclical situation. You will contribute to the preparation macroeconomic projections for non-EU countries and the global economy, which feed into the international part of the ECB/Eurosystem staff projection exercise, and participate in simulation and scenario analysis relating to the international environment. You will contribute to analysis and briefings on countries outside the EU, including candidates that could potentially join the EU.

You will also prepare studies, briefings and reports to support the decision-making bodies of the ECB. These papers may also form the basis for documents used by the ECB’s Executive Board members and senior managers when they attend international and European meetings. The External Developments Division is the primary point of contact between the ECB and central banks and other institutions in non-EU countries.

The ECB is an inclusive employer and we strive to reflect the diversity of the population we serve. We encourage you to apply irrespective of age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics.

Your role

As an Economist you will:
  • monitor, analyse and forecast macroeconomic developments in key global economies as well as at the global level;
  • contribute, with relevant analysis, to shaping the narrative on developments in global economic activity and trade; 
  • monitor, analyse and assess economic developments and policies in EU candidate countries, particularly in the areas of monetary policy and financial stability;
  • conduct studies in order to further strengthen and support the analytical content and argumentation of the External Developments Division’s regular and ad hoc policy contributions;
  • prepare briefing material for both internal and international meetings;
  • draft contributions to the ECB’s official publications and conduct analysis of topical policy-relevant issues in the External Development Division’s areas of expertise;
  • present policy analysis and studies to internal and external committees and fora.

You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens. The position offers you excellent opportunities to conduct applied macroeconomic analysis on topical policy issues, to use as well as develop state-of-the-art macroeconomic modelling tools and to interact with counterparts in other central banks and international organisations.

Qualifications, experience and skills

  • a master’s degree or equivalent in economics or another relevant field  (click here for details on degree equivalences);
  • professional experience in preparing high-quality, policy-sensitive and relevant briefing material;
  • experience in conducting applied economic studies using state-of-the-art quantitative, statistical and econometric techniques and presenting the results in non-technical terms;
  • professional experience in one of the External Development Division’s fields of interest as detailed above, in particular in macroeconomic country analysis, global trade and forecasting;
  • excellent communication skills paired with a dynamic and open-minded personality;
  • a very high level of computer literacy and the ability to use various software applications, including a good working knowledge of MS Office and working knowledge of econometric software (e.g. MATLAB);
  • an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages.

  • knowledge of trade data and a good understanding of global value chains.

You engage collaboratively with others. You pursue team goals and learn willingly from other people’s diverse perspectives. You signal any need for change by explaining it and proposing alternative solutions. You analyse complex information effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs.

You are motivated to be part of our team and to use your skills and competencies to achieve the objectives of this position.
You are aware of your strengths and areas for development and know what motivates you to perform at your highest level.

Working modalities

We would be happy to discuss a part-time arrangement for this role.

Further information

The contracts offered will be short-term ESCB/IO, the appointment being for 12 months as of the exact starting date of the selected person, extendable to up to 36 months.

For additional information on this specific vacancy, you can speak to the hiring manager, Bernd Schnatz, on +49 (0)152 2252 1110 between 14:00 and 15:00 on Friday, 18 February 2022, or send a short message to to arrange a call.

Application and selection process

The recruitment process for this position will be conducted remotely. It will include a written exercise and interviews. 

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list (see step 4 of how we hire), from which you might be considered for similar positions within the ECB.
Find out how to apply for a position at the European Central Bank. Read more about joining us.