Back to top anchor

The Macroeconomist Stream

The Macroeconomist stream offers the opportunity to focus on improving New Zealanders’ wellbeing through utilising macroeconomics and fiscal policy, modelling and research, and forecasting.

You will be at home in this stream if you have a genuine interest in the New Zealand economy, macroeconomics and fiscal policy. To apply you will have a strong, ideally post-graduate, tertiary qualification in macroeconomics or related disciplines (i.e. economics, statistics or equivalent). Work experience undertaking economic, policy and numerical analysis, with an emphasis on macroeconomics or fiscal analysis, would be an advantage.

In this stream, you will have the opportunity to:

  • Conduct and collaborate on economic research projects
  • Analyse fiscal strategy, monetary conditions (interest rates, inflation, exchange rates), policy settings and macroeconomic monitoring
  • Work on economic and tax forecasts and scenarios, macro modelling and redevelopment activities for economic forecasting
  • Contribute to the Weekly Economic Updates (WEU) and Monthly Economic Indicators (MEI)
  • Provide economic briefings for internal use or for Ministers
  • Work with local and international agencies
  • Monitor and provide advice on macroeconomic stability and related issues, including advice on monetary and macro-prudential policy frameworks, financial crisis governance and the performance of the Reserve Bank of New Zealand
  • Contribute to international engagements such as country reviews by the International Monetary Fund, the OECD and credit agencies

Hear from our graduates:

Carlos: Analyst, Forecasting 
Carlos - Graduate Programme - Macroeconomist

Carlos: Graduate Analyst, Forecasting

What attracted me to the Treasury was the strong economics focus and it being at the heart of the public sector.

The Treasury is a great place to apply the knowledge gained from university and develop new skills. It is great to be able to understand how the economy is functioning and the initiatives the Government is thinking about implementing. Knowing that the contribution I make here is contributing to making a meaningful difference to the lives of all New Zealanders is just the cherry on top. 

I am part of the Forecasting team and my area of work relates to forecasting inflation, interest rates, and exchange rates. Actively monitoring and modelling developments in my sectors of the economy allows me to get a broad sense of where the economy might be going.

During the Forecasting round, we visit various businesses around the country to ask people on the ground what is happening with the economy, what challenges and successes have they had, and where do they think we will be in a few months. It’s a cool opportunity to test whether our forecasts are reflecting the reality experienced by New Zealanders. 


Elle: Analyst, Macroeconomic and Fiscal Policy
Elle: Analyst - Macroeconomic and Fiscal Policy

Elle: Analyst - Macroeconomic and Fiscal Policy

The ultimate responsibility in our work is to the Treasury’s rather special motto - to raise the living standards of all New Zealanders.

Before I started out at the Treasury I didn’t realise just how far the Central Agencies (including the Treasury) reach across the Public Sector, or how far the Public Sector reaches across people’s lives. 

I think the team environment at the Treasury is a real privilege. I don’t feel like I’m seen as a graduate. I very much feel an equal and that I have a voice.  And that’s not just the case within my own team; on a day-to-day basis I collaborate with different teams, each with really different focusses. For example, I have a lot of contact with the Forecasting team, which has a different technical set of skills to my own. So even though I’m not forecasting myself, I have an understanding of what they do because I get exposure to it at the interface of our teams.

My day-to-day also involves meeting with other agencies, mediating different interests and perspectives, and trying to represent those views to Ministers. In those situations it’s not enough just to provide information, we need to provide actual advice they can act on.

I also help to produce the technical work that underpins that advice, including calculating fiscal indicators and writing economic updates. At the Treasury, you learn very quickly and there are heaps of opportunities for you to develop.


Harrison: Senior Analyst, Reserve Bank Act Review
Harrison: Analyst - Forecasting

Harrison: Analyst - Forecasting

One of the things that I really love is the people that I work with. It is the experience, the backgrounds, and the expertise that I can learn from by working with the people at the Treasury.

I am a part of the Forecasting team and we have regular discussions about the workings of the New Zealand economy and the implications of government policy for the economy.

At the Treasury, there is such a wide range of different people so you get these quite interesting conversations about economics and how do we apply economic theories to New Zealand and policy advice.

I am an economist at heart and I find the Treasury stimulating. I love the work that we get to do and I actually get excited to come to work. I was looking at how I could apply my economics degree because I absolutely loved studying economics and I was particularly interested in macroeconomics. The Treasury seemed like the best place to go for that.

Another thing that I liked was the graduate cohort. I think it is cool that you get this group of people that are all from different backgrounds but all coming into the same organisation at the same stage of their career. 

Last updated: 
Thursday, 16 January 2020