Specialist Designation

Chartered Economic Policy Analyst® (CEPA®)

Apply economic theory and quantitative methods to evaluate public policy, advise governments and institutions, and assess the real-world impact of fiscal, monetary and regulatory interventions.

$101k

Median annual salary for economists in policy roles

170+

Countries where the CEPA® designation is recognised

300k+

AAFM® designation holders worldwide

5,000+

Pearson VUE exam centres globally

About the Programme

Economic policy analysis applies economic theory, empirical methods and quantitative tools to understand, evaluate and improve public policy. It sits at the intersection of economics, politics and public administration - equipping professionals to assess how government interventions work in practice, identify unintended consequences and recommend evidence-based alternatives.

Today's regulatory landscape is changing fast. National and international economic regulations are reshaping how businesses operate - and CEPA® holders are equipped to interpret and act on these changes.

With this certification, candidates are prepared for careers in economic policy analysis, government policy-making, management consulting and more.

Economic Policy Industry Overview

The CEPA® programme provides candidates with a background in government economic policy, resources, technology and economic realities - enabling them to interpret the political impact of current economic developments. It also gives existing economics professionals the broad global view needed to understand the social, economic and political impact of their work.

Programme Objectives

This programme aims to:

Explore the rationale for public policy interventions in the economy
Provide an overview of a wide range of areas of applied microeconomics used in public policy, including relevant historical and international experience
Discuss the role of economics in the political process and provide an introduction to the evaluation of economic policies
Incorporate interdisciplinary elements touching on political economy and behavioural economics

This course will enable participants to:

Demonstrate an understanding of the criteria for successful microeconomic public policy interventions
Show understanding of the reasons for variation in policy interventions over time and in different contexts
Evaluate critically policy proposals, including demonstrating awareness of sources of empirical evidence
Demonstrate knowledge of specific topics in public policy economics
Contribute to public and policy debates about a range of economic issues

Role of an Economic Policy Analyst

What does an Economic Policy Analyst do?

Collect, analyse and summarise information for use in agency work - including data collection, aggregation, manipulation and summarisation of both internal administrative data and programme data received from outside entities
Use knowledge of statistical and econometric methods to derive highly quantitative information from available data and form conclusions about the meaning of the information
Provide economic analysis necessary for the completion of agency fiscal notes
Assist with cost-benefit analysis and small business economic impact analysis for proposed agency rule-making
Respond to requests for data, economic information and research assistance from agency managers and external stakeholders
Identify the best sources of industry and market data
Collect and update key data and reports on a regular basis
Work with other analysts to develop new sources of industry and market data for use in agency work
Perform data cleaning and manipulation using a variety of software packages
Produce charts, maps, tables and graphs to visually communicate data and compelling trends
Analyse economic factors and evaluate the economic impact of regulation in support of the development of agency policy positions, management options and legislative proposals
Coordinate with agency staff, subject matter experts, other agencies and stakeholders to obtain information needed for analysis on policy options and legislative proposals
Prepare documents and other work products that are clearly written and accessible to allow audiences to engage in meaningful dialogue
Take the lead in bill analysis and facilitate rule-making teams as assigned

Economic Policy Analysts should:

Receive information from all relevant sources and observe them systematically
Compile and analyse data to explain economic phenomena and calculate market trends using statistical and mathematical techniques
Undertake research on economic issues and circulate findings through technical reports
Consult and assist companies, organisations and individuals on economic relationships
Provide litigation support by documenting expert testimony or testifying as an expert witness
Develop economic guidelines and standards and suggest viewpoints for formulating economic policy
Study economic and statistical data in areas of specialisation such as finance, agriculture and labour
Contribute to strategic discussions and market-access planning processes to enhance the effectiveness of implementation of corporate strategies

Key Benefits of the Programme

The CEPA® is ideal for professionals who wish to:

Compile, analyse and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques
Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals
Provide advice and consultation on economic relationships to businesses, public and private agencies and other employers
Provide litigation support, including writing reports for expert testimony or testifying as an expert witness

By the end of this course, participants will understand:

The importance of definitions and ethics in framing policy questions and public debate
The limitations of both states and markets in collective action
The many trade-offs and choices that inevitably arise in economic policy

Candidates will be expected to have gained the following skills:

Critically evaluate data, evidence and arguments about economic policy questions
Contribute to debates themselves in a more evidence-based way
Link policy choices to social welfare and ethical goals
Connect economic trade-offs with issues of political choice and practical implementation

Additional programme benefits include:

Attain Super Specialist Status in "Economic Policy Analysis" with both the knowledge and skill to perform your duties as a Chartered Economic Policy Analyst
Add a globally recognised professional designation and post-nominal to your resume, business card and email signature
Access one of the top economic and financial professional networks around the globe
The Chartered Economic Policy Analyst® certificate is awarded by the American Academy of Financial Management® (AAFM) and is fully recognised in the USA, more than 170 countries and hundreds of institutions worldwide

Who Should Enrol

The CEPA® is designed for professionals in government, industry, academia and consultancy - especially those with an economics background. Ideal for:

Business Analysts
Economic Research professionals
Management Consultants
Policy Makers
Product Research and Development specialists
Professionals in Real Estate, City Development Agencies and Municipalities
Researchers and Academics

Educational Requirements

Minimum qualification required to pursue the programme:

Graduates (Any Stream): Pass Level 1 - Chartered Economist Exam.
Postgraduates in Economics: Directly pursue the Chartered Economic Policy Analyst® designation.

Career Opportunities

Employment for economic policy analysts is traditionally strong across government, research and the private sector. With the CEPA® certificate, you may qualify for roles such as:

Analyst for the Department of Economics, Industry and Commerce
Banking Analyst
Business Analyst
Business Consultant
Council on Foreign Relations Researcher
Data Analyst
Economic Policy Advisor for Non-governmental Organisation
Economic Policy Analyst for Government Regulator
Economist
Finance Manager
Financial Analyst
Macroeconomic Policy Section Analyst
Operations Analyst
Policy Analyst for National Planning Commission
Research Analyst
Research Service of Government, Finance Division and Economic Policy

Some Chartered Economic Policy Analysts also work for private companies, research institutions and academic organisations with an interest in economic policy.

Skills Required

Key Skills and Proficiencies of a Chartered Economic Policy Analyst:

Respect, Recognition and Inclusiveness: Engages in constructive working relationships characterised by a high level of acceptance, cooperation and mutual respect; helps create a work environment that embraces diversity and recognises contributions of others.
Accountability: Demonstrates understanding of the link between job responsibilities and organisational goals; accepts personal responsibility for the quality and timeliness of own work.
Communication and Collaboration: Actively listens and engages in open, respectful and cooperative dialogue; conveys messages effectively across different audiences.
Customer Focus: Builds and maintains internal and external stakeholder satisfaction; demonstrates sensitivity to public perceptions and attitudes.
Professionalism and Integrity: Through consistent honesty, forthrightness and professionalism in all interactions, earns the trust, respect and confidence of co-workers and clients.

Programme Curriculum

Curriculum of the Chartered Economic Policy Analyst®

The curriculum provides an in-depth study of economics, grounded in the core concepts of economic policy, welfare and the economics of industry. Candidates will investigate the moral and individual dimensions of economic policy and understand their responsibilities as a Chartered Economic Policy Analyst.

For a professional like a Chartered Economic Policy Analyst, an understanding of the concepts of economic policy is of prime importance. This part of the course enables the Chartered Economic Policy Analyst to develop a basic understanding of economic policy evaluation and public intervention in economic policy, covering a brief history of policy analysis and the goals and steps in policy analysis.

The module enables Economics professionals to acquaint themselves with the role of the policy analyst. The objective is to enable a Chartered Economic Policy Analyst to develop critical thinking about policy tools and to understand how to critically evaluate the process of policy analysis itself.

For a professional like a Chartered Economic Policy Analyst, an understanding of market demand and supply and market equilibrium is the crucial aspect of the study. This module covers the net benefit of consumption, market and rational consumers, the role of incentives and the economic policy problems that arise from incentive structures.

The module also covers Pareto optimality, market imperfection and inefficiency analysis at the sectoral level. The objective is to enable a Chartered Economic Policy Analyst to understand net gains and deadweight loss, public goods and their market, and the interaction between demand and supply.

For a Chartered Economic Policy Analyst, knowledge of efficiency and the role of government in the economy and the market is the crucial aspect of the study. This module covers taxes in competitive markets, forms of government involvement and government intervention in imperfect markets.

The module also covers the foundations of public choice of goods and government failure. The objective is to enable a Chartered Economic Policy Analyst to understand the ethical goals of policy analysts and to assess the implications of utilitarianism and alternative ethical frameworks for public policy design.

For a Chartered Economic Policy Analyst, knowledge of the process of benefit-cost analysis is the crucial aspect of the study. This module covers decision criteria for benefit-cost analysis, types of policy decisions and the measurement of benefits and costs using efficiency concepts.

The module enables Economics professionals to understand the investment versus saving trade-off and the present value formula. The objective is to enable a Chartered Economic Policy Analyst to understand the importance of present value with infinitely long net benefits, alternatives to present value, the inflation rate and the discount rate.

For a Chartered Economic Policy Analyst, understanding of economic policy impact and estimating direct multiplier effects is the crucial aspect of the study. This module covers the Keynesian Multiplier, economic base models, input-output models and measuring an institution's effect on government.

The module enables Economics professionals to understand the basics of measuring risk and uncertainty, expected value and decision tree analysis. The objective is to enable a Chartered Economic Policy Analyst to understand the expected utility model and concepts and issues in the insurance market.

For a Chartered Economic Policy Analyst it is crucial to understand the basic economic concepts related to transportation policy. This module covers modal choice, transportation demand and the analysis of highway construction policy, alongside the economic views of nature and pollution.

This module enables the economics professional to understand the benefits of controlling air pollution on the economy, equipping candidates to apply economic frameworks to both environmental regulation and infrastructure investment decisions.

For a Chartered Economic Policy Analyst it is crucial to understand the concept and measurement of poverty. This module covers the absolute poverty measure and poverty line, alternative measures of poverty and measures of inequality, as well as the problems of the labour market, evaluating training programmes and the economics of the minimum wage.

For a Chartered Economic Policy Analyst it is important to understand the fiscal and monetary policy of the government. This module covers the key issues related to fiscal and monetary policy and the principal policy choices available to decision-makers in each domain.

Candidates will assess the effectiveness of fiscal stimulus, monetary transmission mechanisms, interest rate policy and debt sustainability, developing the analytical skills needed to evaluate current and proposed macroeconomic policy stances in both developed and developing country contexts.

Programme Fees

Fees for the Chartered Economic Policy Analyst®

Fee Head	Resident Student	Overseas Student
Registration Fee	Rs. 40,000 + GST	USD 1,000
Registration Renewal	Rs. 10,000 + GST	USD 100
Examination Fee - Chartered Economist®	Rs. 5,000 + GST	USD 100
Examination Fee - Chartered Economic Policy Analyst®	Rs. 10,000 + GST	USD 100

Salary Prospects

Economists earned a median annual salary of $101,050, according to the Bureau of Labor Statistics. The 25th percentile salary is $73,890 and the 75th percentile is $138,120. Median annual wages across typical roles for economic policy analysts:

Role	Median Annual Salary (USD)
Business Analyst	$72,000
Business Consultant	$96,000
Data Analyst	$68,000
Economist	$99,000
Financial Manager	$112,000
Financial Analyst	$70,000
Operations Analyst	$63,000
Research Analyst	$63,000
Senior Business Analyst	$101,000
Senior Financial Analyst	$92,000

Questions & Answers

Frequently asked questions

The CEPA® is a specialist designation from AAFM® USA that equips professionals to apply economic theory and quantitative methods to the design, evaluation and reform of public policy. The eight-module curriculum covers concepts of economic policy, market efficiency, government intervention, benefit-cost analysis, economic impact analysis, transportation and pollution control policy, poverty and income support policies, and fiscal and monetary policy analysis - with strong grounding in both microeconomic and macroeconomic frameworks.

Graduates from any stream must first pass the Level 1 Chartered Economist® (Ch.E®) examination before pursuing the CEPA® specialist designation. Postgraduates in Economics may pursue the CEPA® directly. The programme is designed for business analysts, management consultants, policy makers, researchers, academics, and professionals in government, real estate and city development - no specialist policy background is required.

Registration is Rs. 29,000 + GST for Indian residents (USD 1,000 overseas). The Level 1 Ch.E® exam fee is Rs. 3,000 + GST, and the specialist CEPA® exam fee is Rs. 10,000 + GST. Registration renewal is Rs. 10,000 + GST. Exams are conducted at Pearson VUE centres (5,000+ globally) on the 10th-20th of each month - 55 questions over 115 minutes, 50% to pass, no negative marking.

The CEPA® is 100% online and self-paced through AAFM's USA-ACER e-learning platform, which provides video lectures, 2,000+ pages of reading material, PPTs, mock tests and case studies. Most candidates complete in approximately six months. The CEPA® designation is issued directly by AAFM® USA on successful completion.

The CEPA® opens roles such as Economic Policy Analyst, Business Analyst, Business Consultant, Data Analyst, Policy Advisor for NGOs, Government Regulator Analyst, Macroeconomic Policy Analyst and Policy Analyst for National Planning Commissions. Economists earned a median annual salary of $101,050 (USD), with Financial Managers reaching $112,000 and Senior Business Analysts reaching $101,000. CEPA® holders typically earn up to 27% more than peers without the designation.

Yes. The CEPA® certificate is awarded directly by AAFM® USA and is recognised in 170+ countries through 800+ universities, colleges and approved training providers. AAFM® holds alliances with AACSB, ACBSP, the Asian Bankers Association and the Royal Society of Fellows - providing strong employer recognition across government, research institutions and private-sector organisations worldwide.

Take the Next Step

Earn the Chartered Economic Policy Analyst® designation today

Join AAFM's global network of specialist economists and build a career at the frontier of economic policy, government advisory and evidence-based decision-making.

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