AI tools for economists

Calculates cost and prices, plans budgets, prepares economic justifications and analyzes plan execution.

Tools ranked for this role

Best tool for each task

ChatGPT

All-purpose chat assistant with web search, file and spreadsheet analysis, voice and custom GPTs. Paid plans from $20/mo. Free plan available.

Copilot in Excel

Formulas, pivot tables and pattern finding in an Excel table from a plain-language request. Paid plans from $20/mo.

Claude

Assistant for long documents, contracts and careful writing, with a Project for each matter. Paid plans from $20/mo. Free plan available.

Data that stays out of public AI tools

• Product cost and margin: a trade secret, into a public service only the table structure
• Budgets and plans before approval: only inside a corporate environment
• Salaries of specific employees in calculations: replace them with averages or codes
• Supplier prices from contracts: into a service as codes
• Model conclusions from the numbers: verify them with a calculation in the spreadsheet

Tasks with a prompt and steps

• Calculate product cost 60 min
• Build a pricing model 60 min
• Prepare a business case for a project 60 min
• Analyze budget variances, actual versus plan 30 min
• Write the financial section of a business plan 90 min
• Analyze a large data export 30 min
• Turn a table into a clear chart 15 min
• Build a 12-week cash flow forecast 45 min
• Get a spreadsheet formula from a plain-language request 10 min
• Design a KPI dashboard for the business owner 40 min
• Classify expenses by category 20 min