Tips for Improving your Economics PhD Motivation Letter
1. Be specific. One bad habit that many people have when writing their motivation letter is being too vague. Saying that you enjoyed your economics undergraduate course or that you find economics interesting is too vague to be meaningful. After all, it can already be assumed that you enjoyed studying economics or you wouldn't be applying for a PhD. Instead, try to be more specific: mention which particular courses or topics appealed to you most, what you learned from them, and why you want to learn more about them. 2. Give concrete examples. Another common mistake is to make claims without giving any evidence to back those claims up. For example, you'll often see people say “I work well independently” or “I am highly organised and good at managing all of my assignments”. But without demonstrating how these things are true, there is no reason for the hiring committee to give weight to your self-assessment. For better results, give concrete examples of your claims in action, such as “My high level of organisation was demonstrated when I completed my economics undergraduate courses while also working a part-time job, which required excellent time management skills.” or “In my second year, I successfully organised an undergraduate conference with 50 attendees.” <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> 3. Show your personality. It is important to be professional in your motivation letter, so the letter should not contain jokes, sarcasm, or irrelevant personal information. However, you also needn't be dull and impersonal. You can and should allow your personality to shine through in your letter, and show how you are different from other candidates. Maybe you have strong opinions about a particular topic in economics, or perhaps you have taken an unconventional career path that involved working jobs as well as studying. In these cases, you needn't hide your individuality. Show how your background gives you a unique perspective on economic issues and your approach to academic work. Remember, the point of the motivation letter is not to show how similar you are to an imagined perfect candidate – it's to show off your unique personal approach and how you could be a great economics PhD student. 4. Focus on skills. Another issue that some people have in writing a PhD motivation letter is the gulf in requirements between an undergraduate or master's course and a PhD course. In an undergraduate or master's course, you have to attend classes, complete assignments, and perform well in assessments. In a PhD, you will often have to come up with your own research questions, choose the best methodology to answer those questions, and motivate and organise yourself to complete your work. If you don't have direct experience with doing these PhD tasks, that's okay – you won't be expected to know everything before you even start the PhD. However, you do want to show that you have the capacity to perform this kind of work. In order to do this, you focus on the skills that you have – such as data analysis, writing, research, presentation, and so on. Try to give examples of how you have used these skills in the past to show that you're ready for the challenge of a PhD now. 5. Talk about your future plans. Something that hiring committees like to see is that you are interested in working in the field of economics in the future. This means that you need to talk about what your plans are for after the PhD if you want to be accepted. For most people applying for a PhD, the interest will be in doing a postdoc once they have completed the PhD. Other people may know that they want to work in industry, or for an NGO or for the government. Any of these answers is fine, but the committee will want to see that you have thought about your long-term career. Do mention your long-term plans near the end of your motivation letter to show that you are serious about a career in economics.
If you're writing a motivation letter to apply for a PhD in economics, then follow these tips to increase your chances of success. If you plan to start your PhD application this autumn, download our free guide "How to successfully apply to a PhD in Economics".
With Britain's Brexit Negotiations in Flux, Let's Talk About No Deal
Then, just days later, when the dust had settled and the topography of the new cabinet revealed, it was suddenly the reverse that looked most likely - perhaps coherency in governmental policy was to be the result of the most recent tumult? Certainly, with Davis and Johnson gone, two prominent and highly-influential proponents of ‘hard-brexit’, a path had emerged - by no means free of obstacles, but visible nonetheless - for the hobbling government to stagger down in the direction of a ‘softer’, and judging by the polls, more popularly endorsed brand of withdrawal. Going Soft? These particular developments, triggered by the so-called ‘Chequers Agreement’, were fleetingly believed a breakthrough - finally, after two years the Prime Minister had formalised some kind of Brexit strategy. Even though there was no guarantee how those on the continent would respond - commentators were quick to point out that much of the proposal stood at odds with key tenets of EU legislation - the agreement represented a softening in position, a willingness for concession, and a concern for the mounting evidence suggesting disaster if negotiations were botched. No Deal in Sight Alas, rather predictably, the position held for little over a week before the government caved to the demands of the increasingly influential right-wing European Research Group. Most significantly, the compromise included an amendment to the ‘customs bill’, a part of the Chequers Agreement it was thought would lead to too close a relationship between Britain and the EU27, post-Brexit. Perceived a capitulation by many, these concessions have since been rounded on by all sides of the chamber. Peter Dowd, the shadow chief secretary to the Treasury, disdainfully summarised the collective mood to the Guardian: “It took two years for the prime minister to reach her Chequers deal, but only two days for it to fall apart”. With every passing day, as factions further divide and consolidate, it is becoming harder to see any Brexit plan carrying a parliamentary majority, whether it be the Norway model, Canada, Canada ++, or any of the other incarnations mooted. WTO rules on the horizon? For business, this uncertainty is worrisome, to say the least. With no coherent strategy in place, departing without a deal and trade reverting to World Trade Organisation (WTO) rules is now a real possibility. As reported by Reuters, in Germany business groups are already urging their members to prepare for the outcome, such is their fear of its potential disruption. WTO regulation, long an article of faith for hard brexiteers, is seen by many on the right as harmless, benevolent, and even, in some cases, an opportunity. The question often posed: given that it is the means by which the rest of the world trades with the EU, how bad could it really be? Rhetorically, to an ill-informed ear, this may sound almost convincing. However, under scrutiny, its exposed for what it really is. The first thing to point out is that Britain’s relationship with the EU is hugely different to other countries trading bilaterally with the bloc. Having been a member state for so long, Britain has naturally developed a far more intimate and complex relationship with the EU. As The Economist explains: ‘the EU accounts for 43% of Britain’s goods exports and half its imports’, and when also taking financial services into consideration - the sector making up 80% of the British economy - the reliance is shown to be even greater. With this in mind, it should be remembered that a Canada-model deal, mooted some months ago, was rejected on the premise that it imposed too great a restriction on mutual market access, thus making it economically dangerous. Shifting to WTO regulation, the Economist forecasts, would encourage similar hazards, only worse. And it is still celebrated? To return to the oft claimed, ‘well if everybody else is doing it, why can't we?’; well, on literal inspection this too quickly looks a duplicitous supposition. Most developed countries actually have trade agreements in place with the EU, encompassing customs co-operation and standards of goods, and are not on WTO regulation alone. Whilst looking into this, researcher James Hardy found that only handful of countries traded on a solely WTO footing, and the ones that do are almost uniformly developing countries. Not only is this a relatively clear indication that many find its terms of trade unsatisfactory, it also undermines influential pro-Brexit group leave.EU, which has been repeating, relentlessly, that 'if it’s good enough for Australia, America and Canada, it’s good enough for the UK”. As it turns out, this is at best misleading, and at worst plain untrue. The Warnings Closer to home, the Governor of the Bank of England, Mark Carney, has joined the chorus of concern, warning of the ‘big economic consequences’ of a no deal and adoption of WTO regulation, confessing it would have to be considered a ‘material event’ when deliberating future interest rates. His cautionary remarks have also coincided with a fall in wage growth in Britain, increase slipping to just 2.5% on Tuesday. If Carney’s intervention felt ominous, big business has been even more explicit in its condemnation. Bosses of both Airbus and BMW could not even guarantee the retention of production on British soil if Britain were to leave the negotiation table empty handed. Airbus, who employs 14,000 people at 25 sites in the UK, declared only last week that just departing the Single Market could prompt it to up sticks. Evidently, with jobs and livelihoods at stake it is imperative the no deal outcome is discussed, seriously and honestly. It is one of a number of Brexit scenarios whose comprehension is essential if Brits are to make an informed decision about their country's future. Much could still change, and at this point, Britain's future is anyone's guess. We'll be covering more topics related to Brexit soon, so check back to INOMICS.com soon for more.
The reporting of British politics for journalists has rarely been so onerous. Dramatic landscape shifts in the form of u-turns, resignations, and unexpected elections, are now so frequent the lifespan of articles, previously measured in days, are better predicted in hours - sometimes just a handful. Last week’s rapid-fire resignations of Brexit Secretary, David Davis, and Foreign Secretary, Boris Johnson, over their intransigence regarding Britain’s Brexit strategy epitomised this difficulty. Following the double salvo, it looked, albeit briefly, as though anything was possible: a vote of no confidence; a leadership election; maybe even a general election. All bets seemed off.
Public Economics & Economic Policy (JEL H)
The INOMICS Questionnaire: Fratzscher v Cochrane
What unfolded proved illuminating, often personal, and frequently amusing, the dialogue shedding light on the inner workings of the enigma that is the ‘economist’s mind’. Ranging from the trivial to the truly insightful, the following is an essential read for anyone even vaguely interested in the field of economics. Put the kettle on, pull up your favourite chair and enjoy. To find a range of other economics insights, click the button below to download the latest INOMICS handbook. ➲ Download the Handbook now! Marcel Fratzscher: What is your favourite place on earth? John H. Cochrane: I love lots of places. But if I have to choose one, Florence, which combines beauty, history, and for me a bit of nostalgia. What alternative occupation would you want to have if you had a free choice? I have a free choice! Perhaps you mean the chance to make alternative human capital investments? Given my talents, and my many limitations - there are lots of things I’m no good at, and I know to avoid tasks that require them - I have to say I’ve pretty much maximized. I started in aeronautical engineering and then physics, and designing gliders or being a physicist still has a romantic appeal. But I know it wouldn’t have turned out as well as this has. What is the virtue you appreciate the most? Intellectual honesty and ethics. And these are the virtues that when absent in our profession bug me the most. Your all-time favourite figure in economics? Too many to name. Bob Lucas, Gene Fama, Lars Hansen have been huge influences and I admire them a lot. Your # 1 economics blog? Grumpy Economist! Seriously, I read Marginal Revolution most, and follow its links. Your ideal student? Smart, self-directed, thinks big but achievable, takes what is useful in my feedback and ignores the rest. What should be done to address a gender bias in research in economics? That is a big and important question that I can’t fully answer in a little questionnaire. I don’t think the question as stated is correct - I don’t perceive “a gender bias in research in economics,” whatever that might mean. There is a huge problem that women, especially married women with children, fall out of the profession at such a rate that there are almost none of them in the ranks of tenured and chaired professors at major universities. A lot of that is cultural. I’m brewing a long grumpy post on it, but it’s a delicate issue so I’m taking my time. What is the most misguided research agenda in economics? Part of my “ethics” virtue above is that one should not be snarky about alternative approaches, and one should not criticize research agendas one does not know well. That said, I’ve had my differences with Keynesian and new-Keynesian research, and some behavioural research. Old Keynesian seems to want to keep alive a quasi-religion that makes very little actual economic logic, and failed utterly in contact with the data, at least to the extent that a quasi-religion can ever fail. New-Keynesian is an admirable program, but I think it went wrong with the “active” monetary policy idea instead of fiscal theory. If you look hard at “active” money in those models it just seems looney. That’s expost hindsight - the people involved are tremendous researchers and figuring out what equations really mean is as hard in economics as in physics. But it’s time to move on. The idea “let’s put psychology in economics” is a good one, but a lot of the research seems stuck at ex-post storytelling, an interpretive rather than scientific approach, very small effects, and endless claims that someday this is going to really pay off. What is the most promising current research field or issue in economics? Mine of course! Fiscal theory of the price level and risk aversion at the source of business cycles and finance. Seriously, a rule I tell grad students: don’t listen to old guys like me for direction. In the past, great new research fields have almost come despite our contrary advice. Intellectual arbitrage has also paid off well in the past, and clearly, the young stars are using new computational and internet data power to make a lot of progress. Where does economic research have the most influence on policy-making? In my view, in the broad cloud of ideas, not in day-to-day analysis. In a tax bill, say, there will be piles of competing studies, to say this or that tax makes this or that person $402.57 better or worse off. I think this has very little effect. I think economics is most effective in the very important broader circle of ideas. Do people - voters, op-ed writers, newspaper reporters, etc. - understand that when a Chinese company sells us something that’s good for us? Do they understand that marginal taxes distort behaviour? When they see houses that are too expensive do they understand that “we need to let people build more houses” not “we need to pass a lot of taxes to subsidize housing” Do they understand that rent controls will kill the housing market? If people at large understand these things, policy will follow. If they don’t, no amount of enlightened politicians will ever get us anywhere. Politicians are largely smart and well-intentioned people. But they can’t go where their voters do not want them to go. On what issues should policy listen more to economists? I would say all issues! Except that economists (other than me!) seem to offer pretty lousy, and often politically motivated advice. Sorry, we’re not that great. Being good at research does not mean one is good at crafting policy solutions. Being smart is different than being wise. Policy needs basic economics, and clear wisdom about just how little we actually know. Researchers tend to suffer a lot of overconfidence bias, and are all excited about their latest idea and ready to unleash it on the poor unwitting taxpayer. We might be best in the role of devil’s advocate - here is why your latest idea will fall apart. What is your career advice to a young economics researcher? Take yourself and your work seriously. Don’t play games. It’s not about getting published or getting this or that job or promotion or impressing people with technique. It’s about writing things that people care about, in the simplest most transparent and honest way. Treat others as you wish to be treated. To read more of our insights into economics, download our Handbook for free! ➲ Download the Handbook now Header Image Credits: Marcel Fratzscher / DIW and John H. Cochrane (kindly provided)
Esteemed economist, blogger and friend of INOMICS, John H. Cochrane, kindly took time out of his busy schedule to take part in our Handbook questionnaire. However, this was no regular questionnaire, far from it. At its helm, assuming the role of quizmaster was none other than Mr Marcel Fratzscher: president of the DIW Berlin, and one of Germany’s leading voices in macroeconomics. Such is the reputation of these heavyweights we dubbed the encounter ‘Fratzscher v Cochrane’ – our personal nod to the pair’s professional standing.
Applying to Summer School and How To Make The Most out of Your Summer School Experience
If you're planning on applying to a summer school for economics this year, check out our insight into the top summer schools in economics. Applying to summer school It may sound obvious, but summer schools will have a deadline for applications. With a hectic end of term period that often includes both exams and coursework, it can be easy to forget about the deadline and miss out on a school. Application forms can also be long, arduous endeavours that require a bit of time and effort, so be prepared to put a little time aside to get these done, especially if you're applying to more than one school. Make sure you pick a course that you're going to be engaged in and that interests you academically. For instance, you could apply for a subject you already know a little about in order to deepen your understanding. On the other hand, you might want to pick something you know nothing about in order to learn something new. Bear in mind if you choose to pick a new class that the amount of new information you'll be learning might be overwhelming, so you'll want to keep it manageable. Many schools won't teach for a full school day, but just four hours, for instance, over the course of a month - and the subject you pick will determine how long you'll be learning for. (Humanities often have fewer contact hours but more reading outside of the course; sciences may be heavier in actual teaching.) Also consider heading abroad to study. Needless to say there are excellent summer schools across the globe, and, if you can afford it, you'll get to experience a new place, meet new people, and potentially even learn a little of a new language. How to afford a summer school Summer schools often come with a hefty price tag. Your home institution may not always be able to offer you funding, but that doesn't mean the opportunity is off limits: there are are a lot of places from which you can secure a stipend or a grant. For North Americans, here’s a list of options put together by the American Economic Association. For those looking to take courses in Europe, the many scholarships offered through sources such as the German Academic Exchange Service (DAAD) or Erasmus can be quite helpful. Otherwise, don’t forget to look outside your own department for institutional grants or scholarships offered university wide. There's also the choice to take out a private loan in order to afford it. This can be risky due to high interest rates, but it may be an option for you if you're sure you'll be able to pay it off. Then there are the obvious ways like finding a job that will help you pay for it or looking for schools that offer discounted rates or financial help - many of these exist. Finally, many universities offer online courses, which allow you to work while you study or live at home, thereby saving money on accommodation and living expenses. Some may even offer similar courses for free - consider Coursera, that offer programmes from some of the top institutions around the world, and are free if you don't need any accreditation but just want the knowledge itself. Preparing for summer school Preparation before summer school is an essential part of the experience. It's important to know exactly what you're going to be doing during your time there, and to set the right goals for yourself. What do you want to get out of your summer school experience? What do you want to take away from it? Questions like these will help you make the most of your experience. Some summer schools may expect you to do some reading before the course actually starts. Materials will often be made available online by the teacher in order to bring students up to speed on the topics that will be covered and to fill any gaps in the necessary knowledge for the school. It scarcely needs to be said that it's important to read these materials; it means you'll be prepared for to begin the course with some background knowledge that will help you make the most of the experience. Learning during summer school Learning is best enjoyed as a collaborative experience, so you'll get more out of teaching if you are engaged with and encouraging towards other students. Ask for their opinions on the material you're learning, find out about their topics of interest and tell them about yours. Summer schools can be less formal and more discursive than most university teaching, so there's also more chances to discuss with the lecturers and to share your own opinions. Be bold, ask questions, and venture into topics you're not so familiar with, and you'll gain much more from your summer school experience. Summer schools are often more intense as the classes are generally smaller. This means you'll have more one-to-one interaction with the teacher, something that can be valuable especially if you're learning something from scratch. Having that direct interaction with a teacher can be really useful in broadening - or deepening - your understanding of a topic, not to mention looking great on a university or PhD application. Specific skills you can learn from summer school Summer schools often offer the chance to learn skills specific to your discipline, such as experimental techniques, statistical analysis, or programming languages. If you're hoping to gain a new skill in your summer time, it helps to do some preparatory reading and practise before you attend, so that you can be sure you've mastered the basics. That way, you can use your time with the lecturers or instructors as constructively as possible, getting their help on the kind issues which require specialist knowledge you won't find elsewhere. These are all hard skills, of course, but summer schools can also provide important soft skills that won't only help you in academic but also in other aspects of your life like when applying for jobs. A summer school's a challenging discipline that will improve your confidence, your presentation technique, your discussion ability and potentially give you insights into the lives of a diverse range of people. Plus, you'll be able to put the experience on your CV, helping to attract potential employers. All these soft skills are invaluable out there in the 'real world' and shouldn't be taken for granted. Research-based summer schools Some summer schools will be geared towards working on one research project over the summer, under the supervision of faculty. This will give you the chance to see and participate in a professional research environment, and can be an invaluable experience when planning your own future research. Remember to take plenty of notes on each stage of the project; try to find out what role each researcher plays and what skills they work with. This information will be a great guide for you if you undertake independent research of your own. Networking during and after summer school An important aspect of summer schools is making contact with other students and professionals in your field. You'll have the chance to talk to people from all over the world who are working in your topic, to hear about their work and to tell them about yours. Do be friendly and approachable, and prepare a quick one or two minute introduction to yourself and your work for when you're asked. Remember to collect business cards or email addresses so that you can follow up with people who you connected with. Summer schools often bring students together from around the world, meaning you'll create networks in different countries and hear perspectives from people who have lived through different cultures and different educational experiences, something invaluable to shaping your understanding of the world. This effect is double if you decide to study abroad, where you can not only meet people from across the globe, but experience a new culture yourself and maybe even learn a foreign language (depending on where you go). Mentoring and careers advice from summer school You'll also have the chance to connect with senior members of your field who can share their insights into their career progression and help you to plan out your future. Some schools offer mentoring, where an independent experienced person in your field can offer support in your career development. Even if your summer school does not have such a program, you'll still find plenty of people who are happy to give advice. Good topics to ask for advice on include the skills that are essential to their job, what kind of roles they had before their current job, and what aspects of their work they particular like and dislike. This can be the perfect chance to gain insight into the day to day work of great researchers and professors. Aside from this, anyone you meet during a summer school becomes a potential contact and part of your network. Staying in touch with professors and experts means you'll have a point of contact in the future in case you need a potential recommendation or simply someone to help you with general information about life in academia. Social activities and fun during summer school Don't forget that in addition to being great learning opportunities, summer schools are also a chance to have fun! Find some time to explore the local area where you're staying – sight seeing, hiking, eating out in restaurants, sports and group activities are just some of the options that may be available. Many summer schools will offer organised social activities like trips, meals or drinks, where you can get to know other students and faculty in a more relaxed atmosphere. These can be a great chance to get out of your shell and relax after you've been hard at work, so enjoy yourself! Remember that any friends you make during your summer school experience will also become a part of your network, meaning you'll have useful contacts that may be able to help you in the future - or at least, a floor to sleep on if you're ever in their area. Finally, remember that these are summer schools, and as such shouldn't be putting you under too much stress or pressure. Don't take on too much work or force yourself to take too many courses. It's obviously important to take time for yourself over the summer break, to recuperate before the academic year begins again and to get out and enjoy the sun (if it shows itself!).
If you're interested in attending a summer school this year, now is the time to start planning. Deadlines are approaching soon, so check out our series of posts on the top summer schools by discipline to find the best summer school opportunities in your subject. Here are some of the ways that you can make the most out of your summer school experience, during both the application period and once the course actually starts.
Browse our PhD listings for more opportunities This emergent brand of patriotism is just one in a long list of certainties the World Cup will be serving up; the menu year to year, comfortingly, rarely changing. That said, given the propensity of every nation to hugely inflate its own chances pre-tournament, each will be met with a familiar mixture of disbelief, outrage and eventually depression. The scenarios we still have to enjoy, in no given order, will include: an England exit (on penalties, naturally); a disappointing Argentina (and subsequent referendum on Messi’s psychological fortitude); and a plucky underdog, whose fearlessness steals the hearts of all neutrals, but whose hopes are cruelly dashed when knocked in the quarters - presumably by an offside goal inexplicably missed by VAR. And yet, despite knowing all this, we wait, as always, with bated breath. Recent History Regrettably, in recent years the host nation losing out financially has become almost as predictable as the above; this outcome though, the loss of billions of dollars of taxpayers’ money is less amusing, and its effects far longer lasting, than the odd England penalty miss… With Russia having committed a reported $11.6 billion for this year’s incarnation, questions have once again been swirling as to the financial viability of hosting football’s greatest prize. The widening economic consensus on the topic is that approaching hosting duties as a financial investment to be followed by commensurable returns is foolhardy, at best. Casting an economic eye over the experience of the last few hosts provides ample evidence to support this theory, undermining, in the process, the age-old maxim that economists are simply ‘bad sports’. The 2014 world cup in Brazil is perhaps the case in point. Four years on from what by footballing standards was a huge success, and the post-festa hangover is still being keenly felt. The Numbers According to the Harvard Business Review, the country’s preparations cost an estimated $11-14 billion dollars, a sizable chunk ($550 million) funding the construction of Brasilia’s Estadio Nacional – rather symbolically, now used as a bus parking lot. Put into context, such outgoings, if redirected, could have paid for the country’s annual social welfare bill twice over. Of course, comparisons of this kind are immaterial if the investment had given sufficient returns. Alas, until now this has not been the case. Rather, its economic impact is expected to be at it’s very - and most unlikely - best around $13 billion, while its lowest estimate stands at a paltry $3 billion. There are some very basic economic reasons for this shortfall, which, in addition to Brazil’s relative lack of pre-existing infrastructure, diminished from the outset the chances of the country turning a profit. The most obvious, and aforementioned, is the cost of sporting infrastructure – stadia do not come cheap. Even when constructed, maintenance costs can spiral, especially when, like in Brazil’s case, they cannot be used regularly enough post-tournament to cover the costs of their own upkeep. This, unfortunately, is also the enduring legacy of the 2010 World Cup in South Africa, where, as explained by Reuters, 9 out of the 10 stadiums built or renovated for the tournament – a process which made up a quarter of the overall budget – are now in the red, with overheads falling on often ‘cash-strapped’ municipalities. In some areas financial plight has been so severe, guilt-ridden officials have resorted to talking up the ‘non-tangible’ benefits the tournament afforded - not always the best consolation for those without basic social amenities. As a result, both Brazil and South Africa have experienced much of debate, conducted with some stridency, as to whether it would have been more humane to have simply invested directly in their respective communities most in need. A common counter to this has been that government spending tends to prompt a rise in Gross Domestic Product - a key indicator of national economic performance. However, this can often be unevenly felt and short-lived; the effects of little consequence to the median worker. In response to increasing global inequality, the OECD has recently put forward that emphasis is better placed on ‘inclusive growth’; spending that attempts to deliver economic growth whilst fostering widespread and sustained improvements to living standards. Sporting infrastructure is not conducive to this goal. Beyond the fact that a stadium is not integral to the fundamental well-being of the common man, they routinely take up scarce and highly sort after real estate. Boost to Tourism? A boost to tourism, one of the favoured arguments adopted by prospective hosts, also begins to look dubious under closer inspection. Yes, events of such magnitude attract huge numbers of fans for the period in which they run, but they also disrupt existing flows of holidaymakers, and in many cases put people off visiting for fear of overcrowding. Even when numbers do increase it may not lead to a ‘Pareto’ gain due to the associated costs from which the increase is procured. South Africa, again, provides a prime example. As the World Economic Forum explains, although failing to match the anticipated 450,000 tourists, South Africa did experience a ‘visitor spend increase of over a quarter’ during the World Cup period; this was, however, offset by the acquisition cost of an estimated $13,000 per visitor. Enough, as the forum points out, to have ‘paid the wages of the entire working population for a week’. Brazil too didn’t experience the boost to its tourism industry it had anticipated, and importantly, had been factored into its costing. Scholar, Mirele Matsuoka De Aragao, in his report on the ‘Economic Impact of the World Cup’, estimated that increased tourist revenue, in the time since, amounted to only 2.5% of the total governmental investment. And, the boost in the number of tourists lasted for only 3 years following the tournament’s close – both, particularly bleak figures. Despite the above, as damning an analysis as it may sound, the World Cup and similarly large-scale events like the Olympics can still be profitable, a prime example the London 2012 Olympics, which brought in revenues that exceeded $5 billion. Its success was attributed to a combination of meticulous planning and high-quality, pre-existing infrastructure. The Flip Side And yet, it should be remembered that assessment based solely on economic figures, growth and the like, only tells one side of the story. The events themselves create things immeasurable: memories, pride and unity, things that, when established in fractious settings can be of untold benefit. South Africa bears out this point. Having suffered the injustices of Apartheid rule for 46 years, that 91% of residents believed the World Cup had a unifying influence cannot be underplayed. Evidently, it is not always all about the money… Browse our job listings for more opportunities
With the world cup now over a week old, we have reached the moment when even those initially reluctant, those who decried it at its outset, give in to football frenzy and find themselves, at least twice a week, standing amid a crowd of similarly dressed strangers, screaming at 11 little men on a screen they can barely see. It is wholly inevitable, and few would disagree, thoroughly enjoyable.
We’re accredited by the Association to Advance Collegiate Schools of Business (AACSB International), which puts us in the top 5% of business schools worldwide. AACSB-accredited schools produce graduates who are highly skilled and more desirable to employers than other non-accredited schools. We’re also ranked alongside Stanford, Harvard and Berkeley among the Top 25 Most Innovative Schools. To qualify for the Master of Accountancy program, you must meet the following criteria: Fundamentals: A 4-year bachelor’s degree in any field from a recognized college or university Practitioner: A 4-year bachelor’s degree in accounting or equivalent coursework, including intermediate accounting, audit, cost/managerial accounting and taxation.* GMAT waiver available for this track only. Cumulative undergraduate GPA of 2.75, or 3.0 in the final two years Minimum score of 500 on GMAT In addition, you must provide the following: Online application and $35 non-refundable application fee Official transcripts from every institution where coursework was completed Statement of goals Three references** For international students: Satisfy the School of Graduate Studies’ English language proficiency requirements International applicants who have received their bachelor’s or master’s degree in the United States or English-speaking Canada are not required to submit the TOEFL or IELTS
The field of accounting is one of the strongest sectors in the global economy, which is why quality accountants are always in demand in every industry. In fact, the number of accountants, auditors and CPAs across the country is expected to grow 10% from 2016 to 2026. Our master’s program allows you to build your foundation in accounting through our online fundamentals track or hone your advanced analytical skills with our online practitioner track. Both can prepare you for leadership in the dynamic accounting field and to sit for the CPA exam. Study topics ranging from business law for accountants to accounting systems and business intelligence. Our online accounting master’s program is offered through the College of Business & Public Administration — the largest, and first accredited, business school in North Dakota. UND accountancy students consistently beat the national average on all four parts of the CPA exam, with nine being awarded the prestigious Elijah Watts Sells Award.
How To Apply For Research Funding: 10 Tips For Economists in Academia
1. Apply early One important tip to remember is that the assessment process for funding applications can often take 6 months or longer. And some funding opportunities may only accept applications once per year. So, if you’re hoping to get funding, you need to check the deadlines and apply early on. It’s best to start preparing several months before a deadline to be sure you have everything ready on time. 2. You will need letters of recommendation One of the reasons you need a long time to prepare a funding application is that you will need letters of recommendation. In addition to your project proposal and letter of motivation, it’s common to require one to three letters of recommendation as part of your funding application. So think of which supervisors or colleagues know your work well and could speak positively about you, and ask them for a recommendation letter ahead of time. 3. You can apply to several funders with the same project A funding application is a lot of work, and you’re not guaranteed to be successful. However, you can improve your chance of receiving funding by applying to several funding bodies simultaneously. Some funding applications will ask if you are applying with the same project elsewhere, but it shouldn’t be a problem to say yes. If these simultaneously submitted proposals are forbidden by the funder you’re applying to, they will say so on their website. 4. Demonstrate you have the skills required to perform the research you propose One aspect of funding applications which is often overlooked is not just describing the project you intend to work on but demonstrating how you personally are suited to perform the research you propose. You need to give information about the research you have performed in the past to show that you’re capable of completing the new project. For example, if your project requires a lot of data analysis work then you should mention previous projects you have completed and talk about your experience with statistics for the best chances of winning funding. 5. Consider applying to bodies which offer funding outside of economics When you’re working in economics, it’s natural that your first thought would be to apply for funding from economics organisations. However, depending on your area of research, you may be eligible to apply for funding from bodies in the fields of politics, international development, or mathematics. Have a think about what other fields your proposed project might fit into. This can be especially fruitful if you have colleagues in those fields with whom you could collaborate for the best demonstration of interdisciplinarity. 6. Prepare a budget for your project As part of your funding application, depending on the organisation you apply to you may need to include a budget. Funding usually covers your research expenses, possibly a salary for assistants or research workers, and a salary for yourself. You need to account for typical salaries and the expenses you foresee incurring as you work on your project. Your budget needn’t be totally finalised or too detailed, but you should list your key expenses and estimates for the cost of each one. 7. Show the social relevance of your proposed research Another important factor to include in your proposal is the social relevance that your work will have. Social relevance is a key factor in deciding who is awarded funding, especially when you are applying to a government body. As you are in economics, there may a direct relevance of your work to government policy, which you should emphasise for the best chance of successfully receiving funding. If you can directly show how your work will benefit the government or save it money, even better. 8. Take a grant writing course If you’re currently a PhD student or postdoc, there may be soft skills courses offered by your university which you can take. If there is a grant writing course of half a day to a couple of days, then this can be a very efficient way to learn about the basics of funding applications and get some practice at writing project proposals. You can also bring along any funding applications that you are currently working on and get helpful feedback from the course leader and your fellow attendees, which is a great way to gain experience. 9. Don’t make your proposal too technical and do make it easy to read Remember that although your project proposal will be assessed by fellow economists, the assessors may not be experts in your particular area of research. Your proposal may be assessed by people who are not experts in your particular sub-field, so make sure it’s comprehensible. You can achieve this by avoiding jargon terms and including a brief introduction to the topic in your proposal. If you’re unsure, show your proposal to a fellow economist with a different speciality from you and see if they can grasp the fundamentals of your project. 10. If you are rejected, don’t despair You can always try again next year It’s very common for funding proposals to be rejected, even if the research proposed is good. Perhaps the funding organisation had a high number of proposals this year, or they are concentrating their funding on a different area of research. If your funding application is not successful the first time, don’t despair. Funding applications are highly competitive, and you may need to apply several times before you are successful. If your application is rejected, you can take your research proposal and improve it according to reviewers’ suggestions, then apply again next year. Remember that winning funding can take several cycles of application, so keep trying and don’t give up! Find the above helpful? Well, for a whole lot more career and study advice download the INOMICS Handbook in its entirety! It is free for all and just a click away! ➲ Download the Handbook now! Header Image: Copyright INOMICS (Photographer: Christy Ioannidou)
Applying for funding is a major part of life for every academic, so it’s something you’ll have to be prepared for as you reach the postgraduate stage and beyond. Here are 10 tips for applying for funding as an economist.
What to Do When Your Paper Gets Rejected From a Journal
Consider the feedback When your paper gets rejected, you'll usually receive feedback on why. Typically, you will either get a rejection from an editor, explaining why the paper is not appropriate for the journal that you submitted to. Or, your paper will be sent to one or more peer reviewers who will read over your paper and offer comments to the editor. The reviewers can recommend that an editor rejects the paper if they do not feel that it is up to standard or if it needs more work. In either case, you'll likely get feedback from the editor or from reviewers on exactly why they are rejecting the paper. Some of the most common reasons for a paper to be rejected are that the topic is not suited to the journal that you have submitted to, that the paper does not add to the existing body of knowledge in your field, or that your methods or data analysis techniques are not appropriate to give reliable information about the topic at hand. Whatever the reasons, make sure that you read the feedback in depth and reflect on it. Even if you don't agree with the feedback, it's still important to understand why someone else might have thought that. Once you are clear on what the issue with your paper is, you can start working on making it better. <11an>limit:2;categories:Professor;disciplines:General Economics (JEL A)</11an> See if you can submit again Some journals will allow you to submit your paper again after it has been rejected, as long as you have made substantive changes to it. Other journals discourage resubmission after rejection, on the basis that the editor or reviewers have already seen enough of your work to judge whether it will be an appropriate paper for the journal in questions. Check on the website of the journal or look in the letter you received from the editor to see whether resubmission is possible. If it is possible to resubmit to the same journal, you need only make corrections to the issues raised in your feedback, then you can try submitting again. Or look for a new journal to submit to Alternatively, you can find a new journal to submit your paper to. If you started off submitting to a very high ranked and prominent journal, then you may want to aim for a mid-tier journal for your second submission. Some researchers like to submit to journals with as high an impact factor as possible, and if they get rejected by the top journal then to move on to the second top journal, and so on. This maximises the impact factor that you will be able to achieve with your paper, however, this process takes an extremely long time and can be demoralising. This is why aiming slightly lower for a mid-tier journal can be preferable, as your paper is more likely to be accepted and the submission process won't drag on for months or even years. Leave time for reformatting Don't forget that submitting a paper to a new journal is a time-intensive process. Even if your paper was finalised and submitted to another journal when you send it to a new journal you'll still have lots of work to do. The new journal will probably have new formatting requirements and possibly you'll need to reformat your references too. Plus, there may be a different total word count that you need to adhere to. You might even consider changing the focus of the paper slightly to better match the interests of the new journal you are submitting to. All of this takes a lot of time and effort, so be prepared to take some weeks or months in between being rejected from one journal and submitting to another. Don't give up It's dispiriting to have a paper rejected from a journal, especially when it's a paper that you've worked hard on and are proud of. But remember that a rejection doesn't mean that the paper was bad, only that it wasn't suited to this journal at this time. Plenty of factors affect whether a paper will be accepted in addition to the quality of the paper, such as how well it fits the journal's topic, whether the editor and reviewers you are assigned share your research interests and values, and pure old luck. Keep trying and your paper will find a home soon. Also looking for a job in the world of economics, business or finance? Click here for a comprehensive list of what is currently on offer!
Once you've submitted your paper to a journal, you have to wait to hear a response. Sometimes, your paper will be rejected. If that happens, what should you do next?
For Economics students: Classes from other disciplines you could take to complement your study
Politics / International Relations If you're interested in economic policy, or especially if you're interested in economic justice issues such as inequality and globalisation, then studying a unit of either politics or international relations can be very beneficial. If you are more interested in the theoretical aspects of different political systems and policies, then you will likely get more useful knowledge from a political philosophy or similar class. However, if you are interested in globalisation or if you are considering working abroad, then studying international relations can teach you a lot. Both these subjects are social sciences and so are comparable to economics, so you shouldn't struggle too much as an economics student in either of these classes. Psychology / Sociology If you want to know more about how people act in practice, and why economics models generally don't do well at predicting human behaviour, then you can study either psychology or sociology. Psychology focuses on the mental processes and cognition of individuals, while sociology looks at the behaviour of humans in large groups. Sociology is more directly related to economics, but psychology is useful to understand the underlying motivations that drive people when they make economic decisions. Both psychology and sociology have an emphasis on experimentation as well as theory, so you'll learn about experimental methodology as well when you study these subjects. Philosophy Philosophy is one of those subjects that has a reputation for being irrelevant, but in fact, it is relevant to practically everything. The most important thing you'll learn from philosophy is probably not particular theories of mind or theories about the world – though this is interesting too – but rather essential critical thinking skills. The ability to analyse an argument and to identify logical fallacies is something that will benefit every student, no matter what subject you come from. Philosophy classes can be a challenge if you aren't used to the language and style of philosophy, so it's a good idea to ask for advice from a professor or friend in the field before you choose a class to take. Neuroscience The field of neuroeconomics is becoming more trendy, although the links between observable brain states and economic decision making are tenuous. Still, if you want to get an idea of what the future of economics might look like, then studying neuroscience offers a glimpse into how the brain relates to the mind, and how both are influenced by social factors and the environment. The most useful neuroscience classes for economists will be in the area of cognitive neuroscience, which looks specifically at how mental processes are realised in the brain. More fundamental subjects like neurophysiology will be less relevant to economics students. Statistics A very practical class for economics students to take is statistics. Statistical analyses are an essential part of many economics studies, and you will almost certainly need skills in statistics if you eventually want to get a job in economics. A statistics class can put you at the head of the pack by ensuring that you have both the knowledge and the skills to correctly use statistical techniques. It is important not only that you know how to run a statistical analysis, but also that you know which analyses are appropriate for which kinds of data sets. This is the kind of in-depth knowledge that you can gain from taking a specifically statistics-oriented class. Statistics classes can rely heavily on mathematics, so it's advisable to check the contents and requirements of a class before you sign up for it. Many universities offer statistics classes which are tailored to the social sciences, which will be the best choice for economics students. For a comprehensive list of economics, finance, and business study options click here!
As an economics student, you already have a host of different topics that you study and a variety of methodologies that you use in research. However, you can also gain valuable knowledge and experience from studying topics from outside the field of economics. If you're thinking about branching out and studying some other subjects in addition to economics, here are suggestions for related fields that you could study alongside your economics degree:
How to Write a Cover Letter For Your Journal Submission
Use standard business language and formatting The tone and layout of your cover letter should be in standard business style. So that means that the language you use should be fairly formal, and you should address the editor by their full name and title. Do not use contractions or slang in your cover letter, and do not share personal information about yourself. Instead, focus on presenting the paper as you might present it to a conference. It aids in readability to use short paragraphs, so make sure that each paragraph is only a few sentences long. Use the standard business letter layout of the editor's name and address at the top, followed by your name and address, and sign the bottom of the letter. Tailor the cover letter to the journal Remember that just like how you need to tailor your cover letter to the company when you apply for a job, you also need to tailor your cover letter to the journal when you submit a paper. The cover letter should describe specifically how your paper will add to not only the knowledge of the field, but also to the knowledge of the journal's specific audience. For example, if you are applying to a journal with a clinical focus or one which is read by many clinicians, then you should include information in your cover letter about how your paper could affect clinical practice. You may also choose to reference other important papers in your topic which have been published in the journal you are applying to. If an upcoming issue of the journal that you are submitting to has a theme that your paper fits into, definitely mention this as this will increase the chances of your paper being accepted. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:General Economics (JEL A)</11an> Describe your research in non-expert terms Remember that the editor who will read your cover letter will likely have expertise in your general field, but may not have a lot of knowledge of your specific subtopic. For this reason, you should avoid using overly technical language or jargon in your cover letter, as this may not be comprehensible to the editor. Instead, you should describe your research as if you were explaining it to an intelligent non-expert. You don't need to explain the basic fundamentals of your field, but do be prepared to give brief background information on your topic and why your paper, in particular, will add to the body of knowledge in the field. Talk about the impact of your research As well as describing who you are, the background to your research, your methodology, and your results, it's vital that your cover letter addresses the potential impact of your research on either the academic community or the broader public. It's not enough just to explain what you did and why – you also need to explain why this matters and why it will be of relevance to the journal's audience. Try to stay away from generic phrases like “This research will further knowledge in [your field]” and to instead use more specific phrases like “Our findings of [x] will be relevant to [this group] and the approach taken to [this subject]”. If you can be even more specific, then that's better – something like “With [event x] happening soon, there is a pressing need for research into [your topic] in order to [achieve a specific goal]”. A good cover letter should give information on yourself and your co-authors, as well as information on your topic and your paper, and then convey why this work is important to the journal's audience. Looking for a job in the world of economics, business or finance? Click here for a comprehensive list of what is currently on offer!
When you submit your paper to a journal, as well as the paper itself you will need to include a cover letter. This cover letter is addressed to the editor of the journal and acts as a guide to the contents of your paper. In many ways, the cover letter can be as important as the paper itself in terms of getting accepted to a journal. So you should take your time with your cover letter and make it as good as possible. Here are tips on polishing your cover letter for a journal submission.
Top Career Paths: Public Economics and Economic Policy
Economist for a governmental advisory organisation As part of a governmental advisory body, you can use your knowledge of economic policy to help the state in its economic planning and execution. Government projects typically involve working in large, interdisciplinary teams, and are often long-term, lasting years or more. For this reason, this kind of work is suited to people who are patient and able to grapple with complexity. If you derive satisfaction from getting things done, then this might be frustrating for you because of the long timescales involved. You'll also need solid communication skills to work alongside the other members of your team, whose expertise may be in a different area of economics or in another discipline altogether. Policy advisor to a state representative Similar to working for an advisory body, representatives such as members of parliament also need advising on economic policies. In Britain, for example, MPs are advised by the Civil Service. These jobs are hard to get and require you to work your way up through the ranks, but they have excellent stability and good benefits, so they are suited to someone who is looking for a long-term career and doesn't want to change jobs every few years. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Public Economics & Economic Policy (JEL H)|General Economics (JEL A)</11an> Consultant Outside of the civil service, plenty of state representatives will need advice on economic policy too. You could work as a consultant, consulting for decision makers such as city counsellors. This kind of work can be very rewarding as, unlike national policy, local policies can be put into place more quickly, and you can see the direct outcome of your work on a community. This kind of work requires the ability to explain complex economic systems and possible policy outcomes in a way which makes sense to non-economists. Work for a think tank e.g. Economic Policy Institute Think tanks promote approaches or advocate for policies, including in the area of economics. The Economic Policy Institute, for example, raises awareness about the needs of low-income workers in the US and how they are affected by economic policies. This work requires a thorough knowledge of economics, but also a commitment to the mission. For people who have strongly held moral principles about economic policy and care about actively working to promote those principles, working in a think tank is ideal. However, this type of work is often not well paid and the hours can be long, so you should be prepared for that. But if you are an activist by nature, then combining your passion with your economics knowledge can make you an excellent candidate for working in a think tank. International organisations e.g. UN or The World Bank Another option is working for a large international organisation which will have some interest in economic policy, such as the UN or the World Bank. This work will, like government work, often be long-term and slow in pace, and require you to work in an interdisciplinary team. It is suited to someone who is culturally sensitive and aware of cultural differences around the world. It can be good for those who like to travel to new places, as the work may include field trips or relocations to places around the world. This can be difficult for people who like to be settled or those who have a family but can be good for those who enjoy travelling to new places. It can also help to speak several languages for this kind of work. For more careers advice for economists, as well as postings about jobs opportunities, study advice, and lots more, see our website.
If you're doing a degree in economics with a specialisation in public economics or economic policy, you might be thinking about what career you would eventually like to pursue. Here below are some of the top careers paths for graduates in this area. For a comprehensive list of available jobs check our jobs section.
Economic Development, Innovation and Growth (JEL O)
Top Career Paths: Labour and Demographic Economics
Working for a labour union With your knowledge about labour issues, as an economist, you can be a great boon to a labour union. You might work for a union directly as a researcher, or you might work for a company which supports unions by providing them with consultants or information. As more and more people go into work which is outside the traditional labour structure – think of all the people who work part-time or for the gig economy of Uber, Airbnb, and so on – labour rights are as important as ever. If you feel strongly that you would like to use your education to do go in the world and to help secure better pay and conditions for workers, then working with a union is one of the best ways to do this. Naturally, working for a union has some downsides. It is a highly political environment, and labour rights are the sort of issue on which everyone has an opinion which is often held very strongly. Some companies and even some governments are strongly anti-union and may use intimidation, threats, or even force against union members. You'll have to be ready for lots of politics and debates, and decision-making which can be very slow. You could look for work with a union such as the National Union of Teachers (https://www.teachers.org.uk/), the Teamsters (https://teamster.org/), or the American Nurses Association (http://www.nursingworld.org/). Working in public health A field to consider if your background is in demographic economics is public health. Public health initiatives, such as promoting healthy eating or discouraging people from smoking, require a large amount of research and support to bring into practice. If you have experience working with large datasets and an understanding of how different demographics affect people's behaviour and how to reach them, then you could try working in public health. In a public health role, you would likely be working for the government, which has the advantage of excellent job stability and good benefits. If you are looking for a long-term, safe career option then this is a good choice. You can look for public health jobs with organisations such as the British National Health Service (http://www.nhs.uk) or the US National Institute of Mental Health (https://www.nimh.nih.gov). <11an>limit:2;categories:jobs|courses|conferences;disciplines:Labor and Demographic Economics (JEL J)</11an> Doing academic research or teaching Another option to consider is staying in academia. If you enjoy the university atmosphere and took a great deal of pleasure from completing your research projects during your studies, then you could enjoy a career as a researcher or university lecturer. It's worth mentioning that the pay for these jobs tends to be merely okay, and that the hours can be long. A particular concern is that jobs in academia are often not reliable or long-term, so you might find yourself job hunting regularly. But if you can deal with these issues, then working in research and/or teaching is one of the most intellectually rewarding careers you can have. Teaching jobs at universities are suited to people who are capable of communicating clearly with students who are still learning, and to those who have the good organisational skills which are required for managing timetables, assessments, revision notes, and all the other factors which help to support students in their learning. You will need to be patient and understanding, and willing to work with students who may be unsure or uninterested at times. For all this, teaching work can be extremely rewarding as you get to shape and influence how the next generation of economists will think about the field. Research jobs might be in academia or in industry, and will typically involve a lot of number crunching and data analysis. If you excelled at statistics and at writing reports, then working in research could be a natural fit for you. You'll have to be able to convey your results to a non-academic audience, but if you can do that then research a very interesting career. You could try to get a job at a university such as the London School of Economics (http://www.lse.ac.uk/) or the Florida State University (https://www.fsu.edu/). You could look for a research job with an organisation such as the National Bureau of Economic Research (http://www.nber.org). For more career advice, including top career path articles for other specialisations, have a look at our website.
Are you a labour or demographic economist wondering about the career options which are open to you? Then you should consider these jobs.
How to Combine Attending a Conference with Travel
Conferences are held all over the world, but most often in large cities with good transport links that are well-known destinations. This makes going to a conference a fun way to travel! Conferences frequently take place in desirable locations which gives you a great excuse to get in some tourist activities or explore the local area while you're networking. Here are some tips on how to combine attending a conference with travelling. Add a holiday in the area before or after the conference<o:p></o:p> If you're going to be travelling a long way to a conference – especially if you're having your travel costs covered by your institution – then you might as well take full advantage of the situation and spend some holiday time in the area while you're there. You can arrive at the conference location a few days or a week early and spend your time vacationing before the conference. Or better yet, stay for a while after the conference so you have time to relax and unwind and you're aren't stressing out about the upcoming work you'll have to do. If you're getting your conference trip funded through work, then usually universities or research institutions are fine with you extending your stay for a few days as long as the flights aren't more expensive and you pay for the extra days in the hotel. <o:p></o:p><11an>limit:3;categories:Conferences;disciplines:Economics</11an><o:p></o:p> Meet up with friends or family<o:p></o:p> While you're away, if you know anyone who lives nearby to the conference location then this is a great chance to see them. If you're taking a long trip – for example, going from Europe to the US for a conference – then you have the perfect chance to visit people you know while you're in the US. You can arrange to meet up with friends or family in the evening after the conference, so you can get dinner together or they can show you around. Just remember that sometimes the social events of a conference which are held in a more informal setting in the evening can be the best networking opportunities, so if you go out with friends instead of going to the conference events you might miss out on that. One compromise is to see if your guests can join you on some of the conference social events, such as trips to tourist attractions. Occasionally you'll see conference attendees bringing their spouses or friends to conference dinners or parties, but this differs by conference so ask around to see if this would be appropriate before inviting anyone else to a conference event.<o:p></o:p> How to pack for a conference and travelling<o:p></o:p> When it comes to getting ready to travel, pack carefully. You'll likely only be bringing one suitcase with you, and often only a smaller hand baggage case, so you need to think about what you pack if you're going to combine a conference trip with a holiday. You can try to take a large case with two sets of clothes in it: one of business wear for the conference and one of holiday clothes for afterwards, but lugging a huge case around an unfamiliar city is a pain. An alternative is to try to find items which strike a middle group, like a tailored shirt which can be dressed up with smart trousers or down with a pair of jeans. Then you can use the same clothes for both halves of your trip and you don't need to pack so much. Just be aware that there is a line here: flip-flops and sundresses are rarely appropriate conference wear, and no one wants to be stuck wearing a suit on their holiday!<o:p></o:p>
One of the most fun parts about attending an academic conference – as well as all of the important research you'll hear about, of course – is having the opportunity to visit a new place.
Top Career Paths: Industrial Organisation
Personnel Analyst Personnel analyst is a role within Human Resources which seeks to improve the placement and management of employees through tasks such as setting compensation rates, updating company policies and rules, enforcing equal opportunity employment laws, and mediating the relationship between employees and management. This role involves both administrative elements, which require a high level of organisation and the ability to prioritise and manage tasks, and personnel elements, which require strong interpersonal skills including empathy and active listening. With a background in industrial organisation, you'll have both qualitative and quantitative skills which can be beneficial to a personnel analyst role, such as writing reports, creating graphs of data, and presenting these reports to other members of HR and management. Organisational Consultant If you are more of an abstract thinker than a highly organised administrator, then you might enjoy working as an organisational consultant. This role involves going to work with a company for a short or medium term, and advising them on their organisational and personnel issues. This might include things like restructuring the compensation or benefits packages, changing the way that recruitment is done, or changing the organisational hierarchy to give employees as much support as possible. Working as a consultant can be very rewarding if you enjoy fresh challenges and you like to find a new problem to solve regularly. However, some people will find this work isolating as you will not be permanently based in any location and you have to get to know new people every time you move to a new organisation. If you're outgoing and a problem solver, then your knowledge of data analysis and psychology from your study of industrial organisation can make you an excellent organisational consultant. <11an>limit:2;categories:jobs|courses|Professor|conferences;disciplines:Industrial Organization (JEL L)</11an> Training and professional development A different role within Human Resources to consider is working in training or professional development. Companies are recognising more and more the importance of on-going training for their staff, both in order to retain those staff and to make them more effective at their jobs. The details of what this training involves will vary by field – it might be teaching people how to use a new piece of software, or it could be training them on giving more effective oral presentations. With a background in industrial organisation, you could work either as a trainer yourself, or work in the management and administration of such training. This kind of work is suited to someone who is patient and who enjoys helping others to learn. Training sessions are often short, typically lasting just an afternoon, or up to a few days at best. So training needs to be focused and to the point, and it helps if you can accurately convey the important upshot of your knowledge to your audience. Research Consultant If you prefer to work in a more data-heavy role then you could consider a career as a research consultant. Companies and other organisations perform research into how to make employees more productive and more satisfied with their jobs and often employ research consultants to help with this. Such a role will involve designing research projects, managing the execution of the project, analysing the data, and presenting the findings to management. This requires exceptionally strong quantitative data skills, so it is suited to someone who has experience with statistics and data analysis as part of their study project or their previous research career. Like working as an organisational consultant, research consultancy can be isolating if you are more used to having a long-term stable working environment, however, it also offers endless new intellectual challenges and the chance to work directly with data. Consultancy tends to be well paid, and this is especially true of consultant roles which require a high level of quantitative data analysis skills. For more career advice, including top career path articles for other specialisations, have a look at our website. Header Image Credit: Jessica Lewis @thepaintedsquare via Pexels (free for use under the Pexels license)
If you are working on a degree in the field of industrial organisation, then you might be wondering what career paths are open to you in the future. Here are some of the top career options:
Work for the government One of the biggest employers of health economists is the government. Especially in countries which have centralised healthcare, like the UK or Portugal, a great deal of planning and administration is required to operate a healthcare system. Issues like finding the balance between making procedures widely available and cost-effective require careful management and an economics-based outlook. Other types of work done by health economists employed by the government include researching policies in the area of occupational health or health and safety or the assessment of applications for medical benefits or other support programs. Work for an international agency Another possibility for health economists is to work for an international agency such as the World Health Organization, the World Bank, or UNICEF. These agencies both research and manage healthcare programs in the developing world and in other under-served communities. This can involve assessing the healthcare needs of a community, proposing systemic changes to improve the healthcare experience, or training and supporting healthcare providers. It could also involve working with the pharmaceutical industry in order to provide the drugs and treatments that are required in an economically feasible and scalable manner. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Health, Education, and Welfare (JEL I)</11an> Work in consultancy There are many more organisations besides the government and various international agencies which require insights into healthcare. You could find work as a consultant in the healthcare field, for example in advising a medium size company on how they should institute and manage their health insurance benefits for employees. Consultancy work can be highly demanding, as you are dropped into a new environment and must not only get to know an organisation quickly but also suggest ways that their health care issues can be improved. If you are a problem solver and you are confident enough to work independently, then consultancy can be both challenging and financially rewarding. However, if you prefer a more sedate pace of work and you value the opportunity to get to know and bond with your co-workers, then consulting may not be for you. Work in academia There is also the opportunity to work in academia. If you have enjoyed your experience in university so far, and have a particular passion for research, then this setting could suit you. In order for all healthcare workers to know what the best policies are and what the standards should be, research needs to be performed by an impartial group, which is where universities and research institutions come in. For those who have a strong grasp of abstract concepts and a broad knowledge of methodologies used within the field, then academia offers the chance to explore the areas of research which are of most interest to you and to participate in many intellectually stimulating discussions. However, it can be hard for young researchers to break into academia, as there are a limited number of positions available in a research context and competition is intense. There can also be a lack of job security as many young researchers are employed on only short-term contracts of six months to a few years, which can be stressful. We hope that this helped to inspire you to think about your future career and to inform you about some of the options which are open to you. If you would like to see other top career paths articles for other specialisations within economics, or if you want to see more career advice, job listings, and study advice, then visit our website.
Are you studying health economics, or thinking about studying it at university? If so, you might want to know what career options you could pursue your health economics degree. Recently we've been sharing a series of articles on top career paths for various specialisations within economics, and today we're looking at health. Read on for more information about where you could work with a degree in health economics.
Government legal service An obvious job path for someone with a background in economic law is working for a government legal service. Lawyers in the legal service work purely for the government, supporting officials in the creation, interpretation, and enforcement of laws and policies. This kind of work can be immensely rewarding as it makes a real practical difference to the operation of the government and hence to the lives of regular people. Like most government jobs, working in the legal service is not exceptionally well paid. However, the plus side of such a job is its long-term stability, with the potential to work your entire career in the civil service. Benefits such as vacation days and sick pay are generally good too. One thing to remember is that legal service work requires you to advise and work on policies that you may not personally agree with, so this kind of work is suited to someone who can be impartial and work with those of different political beliefs from themselves. Legal advisor to NGO or company Rather than working for the government, you could also work as a legal advisor for an NGO or a private company. In order to succeed in this kind of role, you need to be able to explain complex legal issues to non-experts, so it's suited to someone with excellent communication skills who doesn't use too much legalese. If you have strong convictions about social or moral issues, you might enjoy working for an NGO. However, remember that work for an NGO tends to involve long hours and not much in the way of benefits. On the other hand, if you like a fast-paced atmosphere, then working in a large company can be exciting and invigorating, and is usually well paid for legal services. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Law and Economics (JEL K)</11an> Compliance A specific role within a company that is suited to someone with a background in economic law is compliance. This refers to the job of staying abreast of the latest laws and requirements for companies and making sure that your organisation is following them. This can involve factors like the environment impact of production, risk management for insurance, or the rights and conditions of workers. This work requires careful attention to detail and a patient personality, as there are many details to consider and progress can be slow and incremental. But a good compliance officer can be a major boon to a company, and there are many roles for this kind of work in large international corporations especially. Mergers & Acquisitions consultant Another opportunity for those with legal and economic experience is Mergers & Acquisitions. Working either for a specifically M&A consultancy or for a large corporation, consultants assist in the strategic planning and execution of the joining or taking over of one company by another. This work requires a strategic approach and the ability to remember and balance many different factors. Strong interpersonal skills are also helpful when bringing together two different organisations with different styles and approaches. This kind of work tends to be very well paid and is a sector which is likely to continue to grow in the future, making it a solid choice for a career for someone coming out of the economic law. Deal broker A sub-type of role within M&A is a deal broker, who matches corporations with targets for acquisition. This is suited to someone who likes to keep abreast of new developments and who has a feeling for which companies are in a position to grow or to become more valuable. It requires someone with strong skills in negotiation and insight, in order to bring together different companies in a successful way. For more careers, advice, including articles on top career paths for other economic specialisations, as well as study tips, job opportunities, and more, have a look at our website.
Continuing our series of posts on top career paths for economists, today we're looking at possible careers for those who want to work in economic law.
Compliance or regulatory affairs If you have strong attention to detail and a desire to reform businesses for the sake of the public good, then you might be interested in working in compliance or regulatory affairs. These two related fields seek to help companies conform to the rules and regulations which are set down by the government, to make their business as sustainable and safe as possible. Compliance generally refers to fields like finance or the environment, whereas regulatory affairs refer more to public health-related fields like pharmaceuticals or medicine. This work is suited to someone who is patient and can look at complicated regulations and convey what policies a business needs to put in place to meet them. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Econometrics, Statistics and Quantitative Methods (JEL C)</11an> Teaching economics If your favourite part of studying econometrics has been presenting to the class or taking part in class discussions, then you might consider working as an economics teacher. You could be a university lecturer on an economics course, or even teach secondary school children about the basics of economics. There is also important work to be done in teaching financial literacy skills to children and adults, to help ordinary people to deal with issues like paying their taxes, saving for their retirement, or understanding mortgages. These jobs are usually not well paid but can bring with them a strong sense of satisfaction as you get to pass on your knowledge to people who need it and to spread interest in your field. Auditing Similar to an accountant, an auditor prepares and checks financial records, usually for large businesses. This work is suited to people who have been trained as economists, as it requires skills such as high numeracy, understanding complex financial regulations, analysis, and the ability to work through a large project without becoming overwhelmed. This job is paid reasonably well but is often considered a little dull. However, the big advantage of this career option is that it is a growing field with secure, stable jobs. Also, during tax season there is plenty of overtime work required, which provides a nice salary bump. If you want a career with solid prospects for the future and not too much risk, then this might be the field for you. Statistician Closely related to the work done by econometricians is the more general work done by statisticians. If you are experienced at working with people from different academic backgrounds than you, you might find work as a statistician in the fields of the social sciences or the hard sciences. You could work in a research group, advising researchers on what kind of statistical tests they should be running or how to interpret their statistical results, or you could work teaching statistics to science students. This work is suited to someone who is an exceptional communicator, and who is interested enough to keep up with the latest findings in the field of statistics. If you want to put your statistics knowledge to practical use to help make new discoveries in science, then consider this as a career option. Computer science or programming One career area which you might not have considered is computer science. If you have specialised in econometrics, you likely have some experience and expertise in data analysis using programs such as Matlab, R, or Stata. You might have programmed in languages like Python or C++. If you enjoyed this work and have an aptitude for thinking in a logical, highly structured way, then you may be suited to working as a programmer. This work is often well paid and comes with more freedom in terms of working hours and self-presentation than other office-based jobs. For more job opportunities and advice for economists, including top career paths for other economics specialisations, see our website.
Are you studying economics, and wondering what career options are open to you? We're doing a series of articles on career paths for various specialisations in economics, and today we're looking at econometrics. With a degree in econometrics, you could of course go and work in the finance industry or for the government. But there are other options you might not have considered:
Econometrics, Statistics and Quantitative Methods (JEL C)
<11an>limit:2;categories:jobs|courses|conferences;disciplines:Economic History (JEL N) </11an> Academia One of the most obvious career paths for someone with a background in economic history is academia. Working within a university or research institution gives the opportunity to work with both history and economics departments and to glean knowledge and skills from both. Plus, it is the area in which funding for history-focused projects is most likely to be awarded. If you are most interested in the conceptual and theoretical issues related to economics and history, then a career in academia will allow you to explore these interests. The biggest advantage of a career in academia is the independence that you are given, being able to create your own research project and to use the methods or techniques which seem most appropriate to you. You need to be a creative thinker and to be capable of working independently to succeed in academia, but the potential intellectual rewards are very hight. Unfortunately, job stability in academia is poor and the pay is not particularly good, so be prepared for doing many job interviews and taking some months or even years to find a job. Teaching If you like the idea of academia but you aren't sure about the tenuous career prospects and the difficulty in securing funding, then you might consider teaching instead. Teaching at a high school can be extremely rewarding, as you get to inspire and influence young people and pass on your passion for your subject. With a background in economic history, you can teach economics, history, or social sciences. Teaching requires patience and organisation, with the ability to corral a boisterous or noisy class being an essential skill. You may need to undertake some kind of teaching training course after your degree in order to qualify as a teacher. The good news is that these training courses are often subsidised by the government, and teaching jobs tend to be stable and good for long-term prospects. Communicator / Journalist A career path that you might not have considered is becoming a communicator, for example as a journalist specialising in economics. Economics has a large impact on the daily life of members of the public, but as a highly complex field, the public often struggles to grasp it. The causes of events such as stock market crashes or incidents of hyperinflation are often poorly understood, even as they have a massive effect on the economic situation of a country. Therefore, there is great value in being able to explain economic issues to a broader audience. With a background in economics and history, you likely have strong written skills which can be applied to journalism or other public communication roles. Government advisor Finally, another prominent career option for economic historians is working as an advisor to the government. Having gained an understanding of the underpinnings of economic changes as they happened in the past, you are well suited to considering the future economic impact of various policies or events. This long-term view is particularly valuable to the government, who think in a more long-term manner than most corporations. Working for the government has the advantage of job stability and many opportunities for progression within the civil service or other governmental departments. Such jobs tend to have a good work-life balance, with plenty of vacation days and good benefits such as insurance and healthcare. If you want to put your knowledge to use by helping and advising the government on how to make better policy in order to improve people's lives, then this could be a good career for you. If you're looking for more ideas about career paths for economists from other specialisations, we have a whole series of posts on this topic. Alternatively, find job opportunity listings, study advice, and much more on our website.
For this week's top career paths article, we're looking at the potential careers which are open to those who have studied economic history.
Browse our job listings for economics opportunities Working for a charity or NGO For those who feel a strong drive to make the world better and to help others, working for a charity or NGO can be a natural fit. If you have knowledge of economics and skills such as quantitative analysis and statistics, then you can do important and helpful work for these organisations. Typically, people who work for NGOs or charities are very driven, so it is likely that your co-workers will share your values and your passion. However, the workflow of an NGO or charity can sometimes be rather chaotic, as there is less of an emphasis on productivity than there is when working for a business. This means that the work is well suited to people who can roll with changes and who are flexible and able to apply their skills to many different types of tasks but is less suited to people who like their work-place to be highly organised and efficient. Remember, because so many people want to work for NGOs, opportunities can be limited. It may be necessary for you to work on a voluntary basis or to do one or more internships to get the experience you need. In this case, it can be helpful to start volunteering while you are still studying, as you have your living expenses already covered. It is much harder to do voluntary work when you already have a full-time job! However, don't let yourself be taken advantage of: an internship should teach you useful skills that will be relevant to your chosen field, and it should generally only be for a short time, say three to six months. Consider carefully whether you will be able to afford to take on a voluntary or internship position and how long you can support yourself for before you need to find paid work. You could look for work at an organisation like War on Want, an anti-poverty charity, Action Aid, an NGO focused on global injustices, or Foundation for European Economic Development, a charity promoting research and projects in development. Work for a global organisation Another option for working in development economics is to work for a global organisation such as the United Nations. Very large organisations require staff in many different countries around the world, doing diverse roles including administration, program management, financial management, project coordination, and policy analysis. Once again, you can assume that you will be working with people who are also strongly values-driven and who are deeply committed to their work. Working in such an organisation will likely involve balancing the needs of stakeholders like clients, co-workers, and management. This requires an understanding of different points of view and the ability to weigh up the differing requirements of various people. To succeed in this field, you should have excellent communication skills, a broad mind, the ability to prioritise, and the ability to adapt to new or unfamiliar situations. It will help if you enjoy travel and like seeing new places and meeting new people, and being able to speak several languages or having the ability to learn a language quickly will be an advantage. To find out about jobs at the UN, or look at organisations such as the Center For Global Development, the African Union, or the Association of Southeast Asian Nations (ASEAN). Browse our PhD listings for more opportunities
Development economics is the branch of economics focused on understanding and promoting the development of low-income countries through economic growth and structural change. If you've been studying economics, you may have had the chance to specialise in development economics, or you may be thinking about doing so in the future. In the case, what career options are available in development economics, and what kind of skills do you need to get a job in this field? That's the question we're answering today, by showing you some of the top career paths in development economics.
1. Financial Analyst One of the most obvious career paths for someone with a background in business economics is to work as a financial analyst. Either for internal or external clients, a financial analyst uses data-driven approaches to predict what business or financial decisions will benefit the client in the long run. If you are a person with a broad understanding of both economics and business, you will perform well in this role. Quantitative skills including statistics and modeling expertise are helpful to set you apart from the crowd and to allow you to make more informed recommendations. Pay for this type of role will vary depending on the context, with small businesses typically paying a more modest salary and large financial institutions paying very high salaries to their top analysts. See the latest Financial Analyst Jobs 2. Market Research Analyst Market research is an essential step for a company to grow, investigating the needs and desires of consumers before a product or service is created, and then discovering how customers or users of the product react to it after it has been launched. Typical market research involves putting together questionnaires to be conducted over the phone or online, examining people's preferences, and then analysing this data. It may also involve organising in-person focus groups to collect more in-depth feedback from members of the public and/or potential customers. With a background in business economics, you'll have both the marketing vision and the data analysis skills to succeed in a market research analyst role. See the latest Market Research Analyst Jobs 3. Business Analyst If you enjoy both working with quantitative data and analysing complex systems, then you could consider working as a business analyst. This role involves assessing and optimising systems such as the processes and methods used by a company and finding ways to make those systems more efficient or productive. This work involves a lot of strategic planning, so it is suited to someone with a long-term view of the company and an understanding of what challenges it may face in the future. In some cases, the role of a business analyst can be closely linked with the company's IT systems, including interpreting rules and regulations regarding IT and ensuring that IT systems are in compliance with laws such as data protection. See the latest Business Analyst Jobs 4. Project Manager Project managers are responsible for overseeing all aspects of a project and coordinating a team in order to achieve the project goals. This involves tasks such as setting the desired outcome for a project, planning timelines and contingencies, keeping abreast of progress on all areas of the project, and supporting teams who have fallen behind in order to keep the momentum for the entire project. This kind of work requires an extremely high level of organisation, with the need to keep many balls in the air at the same time. It is suited to someone who focuses on concrete outcomes and who can pull dreamers and visionaries back down to earth in order to actually realise their ideas. See the latest Project Manager Jobs 5. Investment Banker Investment banking is a high risk, high reward kind of role. It requires a strong tolerance for risk, and an ability to predict future outcomes and to position oneself to be ready for those outcomes. If you thrive in a fast-paced, high-pressure environment then you may find investment banking to be both exciting and rewarding. These jobs tend to be extremely well paid, however, they usually involve very long hours and high levels of stress. Depending on your temperament, you may find the loud, assertive, and quick-reacting environment of most investment banks to be either off-putting or highly invigorating. With a background in business economics you have the knowledge of theoretical economics and the real-world understanding of business which makes an excellent foundation for a career in finance generally, and investment banking specifically. See the latest Investment Banker Jobs
A business degree can be a great investment with fantastic future career options. When supported with a solid understanding of economics, in the job market you'll find that you are an attractive candidate to a whole host of different employers. However, if you're thinking about taking a business economics degree, or are just about to graduate, you might wonder what exact career options are open to you. Here are five of the top career paths.