12 Characteristics of Successful Economics Students
What does it take to succeed as a economics student? What qualities do you need to thrive at university, to enjoy your studies, and, then, once it's all done and dusted, to go and get yourself a good job? These are big questions – there's no doubt – and their answers may not immediately be clear. So, to put worried minds at ease, we've compiled a list of the top 12 traits that – if possessed – will ensure that any student gets the best out of their university experience. And to those now shouting 'what if I have none of them!', well, there's no need to worry, most can be acquired with a bit of determined hard work. Let's begin.
1. Intellectually curious
In order to be a successful economics student, or any kind of student for that matter, it's particularly important that you're interested in and engaged with your subject. All of the other characteristics here depend upon you caring about your studies and your specific topic. Of course, everyone finds some topics more interesting than others, but the willingness to find something worthwhile in whatever issue you are currently studying will help to keep you on form during your studies.
A good way to maintain your curiosity is by observing others who are good at what they do, and then asking questions about anything and everything you don't understand. Asking questions of experts is a brilliant way to learn how something works - they are experts after all! If asking questions fails, or more likely, is not possible, there are endless alternative means of finding something out - books, journals, and of course, the life-saving Wikipedia. Praise be!
2. Mathematical aptitude
Here's a real obvious one: numeracy is a key skill for an economist. Any economist. From dealing with large numerical datasets to interpreting visual data like graphs, you'll need to be comfortable handling numbers and working with mathematical principles. This is why many economists take preparatory classes in mathematics before beginning work or study in economics. Seriously, if you're feeling unsure you should think about exploring this option. What's there to lose?
3. Knowledge of social sciences
Economics also has a lot of common ground with other social science subjects like psychology, history, and sociology. Thus, having a working knowledge of both the factual basis of these subjects and the methods used in them is highly beneficial. In recent years, economics and the other social sciences have become ever more interdisciplinary, meaning an understanding of these subjects is not only desirable but increasingly essential if you're to keep up to date. Knowing a little about other, related areas will also stand you in good stead in life in general; a bit of history gives you something else to talk about at dinner parties, other than inflation rates.
4. Good at understanding complex systems
The unavoidable fact is: economics is a complex subject which looks at complex systems. To excel, you'll need to be able to pull together information from different sources and different fields in order to be able to work with these complex systems. This requires time, effort, and a little patience. Above all, it entails reading, a lot, in order to get yourself up to speed with the latest developments in these systems, meaning (as a bonus characteristic, previously mentioned above) being able to sift through dense scientific texts is an essential skill.
Unlike in school, at university, you are expected to manage your own workload, attendance, and engagement. If you start to miss classes or assessments, you will quickly find your grades slipping, or worse, you may even fail - god forbid! To prevent this from happening, it is essential that you can motivate yourself. Great students will push themselves to engage in class and to do the best they can in their assignments - without fail. Outstanding students will do even more than is officially required of them, to be the absolute best they can be. This should be the aspiration. It's hard we know, but why not give it a whirl?!
Commitment is a vital aspect of being self-driven. It's easy to concentrate for a short time on something you find interesting. What's more difficult is remaining determined and motivated for sustained periods, when you don't necessarily love everything you are having to do, read, or write about. And trust us, this is a situation you are bound to face... Pick the right course and this will be kept to a minimum.
6. Good time management
The ability to organise your time and schedule is another incredibly important ability for an budding economist. Successful students should plan their weeks and semesters well in advance to ensure they can attend all the classes that they need to, and also have enough time for researching and working on assessments. It's equally as important to give yourself time for hobbies, socialising, and general fun. Netflix won't watch itself you know! And while it's important to stay on top of your classes, coursework and other assignments, taking time for yourself and seeing your friends is a must if you are to maintain a healthy study/play balance. With mental health rates deteriorating among students, this is more important than ever: take the time to relax. If you struggle with time management, do something as simple as getting yourself a planner that you can jot down all of your commitments in. Really, it changes everything!
7. Admitting you don't understand
One quality which is often overlooked is the ability to admit when you don't understand something. Seriously this is big, especially in a subject like economics. Although you may feel embarrassed to admit the gaps in your knowledge, it is the only way to learn. It's fine to say that you don't know something, or that you don't understand it – this way, the teachers or other students around you can help by explaining the topic more clearly, and you will benefit in the long run. Bite the bullet! This comes hand in hand with intellectual curiosity. If you aren't able to admit you don't know something due to fear or embarrassment, you won't be able to utilise your innate curiosity - and it's curiosity that leads to innovation, creativity and originality. So yeah, it is pretty important!
8. Creative and original
The ability to come up with new ideas or new ways of thinking about a problem is a characteristic of an exceptional student. This could not be more true of economics where new ways of thinking are the name of the game. For that reason, don't be afraid to give your own opinion on a topic or argument, even if it's contradictory to what others have said. As long as you can justify your view, teachers and other students should welcome your input There are lots of things you can do to improve your creativity. One of them, as will be discussed later, is reading widely and learning a range of skills. The more you have in your toolbox, the more ways you'll be able to think about a problem and come up with an innovative way to solve it. There's also collaboration: working with someone who has a completely different set of strengths to you will force you to see things differently and, in partnership with them, you'll both be able to contribute to an idea that would never have been formulated if the pair of you were working alone.
But there are other ways, too. Travelling widely can help you become more creative by exposing you to different environments and cultures. Taking short breaks from work in order to do something creative - doodle, for instance, or freewrite, or compose a small poem - can help you train your creativity and will eventually become second nature. And of course, connecting with people who are naturally creative is always a good idea. Surrounding yourself with people who have a skill you want to possess can push you to improve.
9. Solid reading, writing, and analysis skills
Whatever subject you study, there are some skills that you will always need. The ability to read materials and glean the relevant facts, the ability to write up your findings in a clear and engaging way, and the ability to critically analyse the material you find will be needed at every stage of your academic career.
Just as essential is reading things that aren't directly related to your course - newspapers, novels, other non-fiction books, not only for fun (although that's also important), but also to expand your knowledge outside of your chosen discipline. Of course, it's important to make sure this doesn't interfere with your university work. This is related to thinking broadly and seeing the bigger picture - you'll only be able to do that if you read a lot, and vary what you read.
10. Communication skills
A further set of skills which are often overlooked for students are communication skills. Being able to present the information you know to both a lay audience and an expert audience is vital for demonstrating your grasp of the material. You should get in practise at presenting orally, making slides, and engaging in debates in order to get the most from your studies.
11. Performing under pressure
There are times when you need to perform under pressure, particularly in written exams. Being able to keep calm and not panic will help you perform to the best of your ability. Fortunately, this is something which tends to come with practice. The more exams you do, the more comfortable you will become with them.
Over on our sister website ConferenceMonkey we've written an Insight on giving a conference presentation that contains a section on dealing with nerves during presentation. Check it out for more information on performing under pressure.
12. Understanding other perspectives
Finally, one characteristic which you may not realize that you need is the ability to listen to and understand other people. Academic success is not only about putting forward your own views; it is also about being able to engage productively with people who have a different perspective. Learn to listen, to argue constructively, and to not be defensive about your own ideas, and you'll be a better student and you'll encourage others as well.
There are a lot of things to think about when trying to come to terms with another's perspective. The majority of people speak indirectly, so interpreting a person's use of words while listening to what they say is an essential skill to have when attempting to understand their opinion. On top of this, body language and non-vocal communication is a vital part of understanding, meaning reading people is important too.
When all's said and done, you don't have to agree; in fact, the point in attending university is to challenge views and be challenged yourself. What's important, though, is to be empathetic and respectful of other people, regardless of whether you respect the perspective they have taken. Being able to do this shows maturity and is an essential quality of being a successful economics student (and person).
- Weighing up Options
The Pros and Cons of a Career in Research
Upon completion of a Master's degree or PhD, the big question arises: what next? Although it seems like natural progression to continue with further research, there are many other careers open to academics in business, education, or communications and journalism, to name but a few examples. So how do you know if research is the right career choice for you? A good way of figuring it out is weighing up the pros and cons.
- Keep Connected
The Top Apps for Economists
In spite of all its distracting qualities, your phone is one of the most useful tools you’ve got, whether you’re studying or working in the field. It’s simply a question of how you use it. With this in mind, we have compiled a list of the apps that – we at INOMICS believe – are best placed to support both your studies and research. To make the most of them, maybe think about uninstalling messenger, too.
- Ranking, Study Advice, Career Advice, Blog Post
The Top Economics Blogs
Reading economics blogs can be an easy way to get your fill of knowledge and, in many cases, they're more palatable compared with academic journals, which can be dense and gruelling. The blogs we've listed - in no particular order - are the ones we here at INOMICS turn to when we're looking for interesting, informative, and occasionally offbeat articles on a wide range of economic topics. With much of the outside world still off-limits, they also provide an excellent and productive means of passing the time. So go on, dive in.