Financial analyst The job of a financial analyst is to research and create reports on the status of companies, industries, stocks, or other financial products. These analyses usually consist of statistical tests using the advanced quantitative skills that economics majors have often acquired. But in addition to mathematical and statistical skills, such work also requires the ability to write reports and to convey this mathematical information in a clear way. This is a skill which economists tend to have more practice in than mathematicians or hard scientists, so the job is a good fit. As long as there is a market for financial products and investments, there will be a need for financial analysts so this is a job that will be in demand for the foreseeable future. Browse our analyst job listings Actuary Actuaries most often work in the field of insurance, and their job is to create models which will determine how likely it is that a given event will happen: fires, earthquakes, accidental deaths, natural deaths, businesses failing, and more. The idea is to quantify how much risk there is of a particular event occurring so that insurance companies can use this information to set the costs of their coverage. Like working as a financial analyst, this role also requires exceptional quantitative skills, although it has less of an emphasis on written reports. The insurance industry is one of the more stable industries over the long term, so this job will continue to be in high demand. Auditor An auditor works to check and verify the financial statements of companies to ensure that they have paid the correct taxes and that their finances are in good order. This requires skills in quantitative analysis, but even more so it requires recognising patterns and identifying outlying or suspicious data points. As economics researchers often focus on analysing patterns, this is a task they are well suited to. Auditing is important for all big companies and will be especially important as computerisation and automation take over more and more tasks. There is a big need for auditors who can check and verify the numbers produced by automated systems to ensure they are in compliance with all relevant regulations. Browse our auditing job listings Information security analyst An information security analyst works to create and maintain the security measures that an organisation has in place to protect them from cyber attacks. While this is traditionally a job more linked to computer science than economics, in fact, there is quite some crossover in the skill required. Security analysts require excellent attention to detail as well as a degree of creative thinking to imagine all of the ways that a security system might be vulnerable. This job is hugely in demand thanks to recent high profile hacking events, and it is a job that an economics major with an interest in computers and digital security could be well suited for. Environmental or resource economist A major growth area is the environmental sector, as companies become more aware of the importance of sustainability and the need to follow environmental regulations. Environmental economists perform empirical or theoretical studies into the economic impact of environmental issues and policies, such as examining the economic impact of new air pollution regulations, carbon tax initiatives, plans to dam a river. Environmental projects such as working to reduce waste or improve air quality have economic effects as well as ecological effects, so environmental economists are required to predict the economic outcomes of these projects. With an increased emphasis on environmental awareness all around the world, this job is one that is highly demanded. Browse our environmental job listings
When it comes to choosing a career path, pragmatic people know that they shouldn't select a job purely based on how interesting they find it. In order to have a stable, long-term career, the job path chosen should be based on the needs of the market as well as the interests and skills of the individual. For this reason, we've rounded up some potential jobs for economists which are highly in demand today.
Additional Courses to Improve Your Prospects in a Career in Economics
From business to programming to statistics, there are plenty of areas which can help you improve your chances of getting a job and widen your skillset more generally, if you've got the money and time to enrol on one. Of course, not everyone will be able to attend these courses due to aforementioned money and time limitations; however, those who are able to will find that improvement in these areas will greatly help your career prospects, and of course, if one looks to websites like Coursera and Udemy, many introductory and intermediate courses can be found for free. But which are the best areas to improve upon? Browse our course listings to help maximise your career prospects Business and finance As there is a great deal of crossover between economics and business in the job market, you can widen the potential pool of jobs to which you can apply by taking some units in business or finance. You might have such units as part of your course, or you may be able to take units from the Business Studies department in addition to your regular units. You could consider studying topics like management, marketing, leadership, or accounting, all of which can give you an edge when it comes to applying for jobs and will be useful when you start work too. Moreover, courses on business and finance are easy to find online, often for free, especially for beginners. Programming and IT You probably already have basic IT skills like online research, word processing, using spreadsheets, and perhaps using databases. Improving these skills, though, particularly alongside your studies, can be extremely useful in all sorts of jobs. Even if you're not hugely technical, you can can find some IT skills which you can learn – for example, HTML is easy to learn and being able to build basic websites will be useful to many employers. On top of this, basic coding courses, and even coding which takes you to the intermediate and advanced levels, can often be found online. Bear in mind that coding is literally another language, meaning many hours of hard work will have to be put in to become competent. Statistics and data analysis It's not always the most exciting of topics, but gaining a good understanding of statistics will help you during your degree and beyond. If your program doesn't include a methods course to teach you the basic principles of statistics, then consider taking this as an extra unit. Also think about honing your data analysis skills by learning to use software like MATLAB, SPSS, R, or Stata. This will benefit you when you are performing data analysis for your projects, and will also show to employers that you have highly technical skills. Real world projects An excellent way to make yourself stand out in the job market as a recent graduate is to have experience on a real-world project. One of the best ways to do well when applying for jobs is being able to demonstrate that you have already succeed in the type of work which they are hiring for. You can impress an employer by showing that you don't just have knowledge from your studies, but also that you know how to apply that knowledge to a real-world business challenge. Courses sometimes offer an optional placement year, and some modules will allow you to work for a time at an organisation or business; you should jump at the chance to attend courses and modules like this. Also, make sure that you record the results of your project and write them down somewhere: if you can show that your project resulted in a 10% increase in sales, for example, or made a company's processes more efficient, then you can add this to your CV and it will be a real eye-catcher for hiring managers. Moreover, keeping a diary of your efforts or a log of your duties will be helpful during the dreary task of waffling on about yourself in a cover letter. On top of all of this, internships and placement years sometimes offer full-time roles after the completion of a degree for particularly successful candidates, meaning the immediate post-degree job search is made somewhat less stressful. Soft skills One area which you shouldn't neglect in your degree is soft skills. These are non-technical skills which allow you to interact with other people more effectively, but are sometimes overlooked by students as they are not tested academically. However, you can get a lot of benefit from taking a course of a day or two on topics like giving academic presentations, writing a CV, writing grant proposals, communication skills, etc. If you're looking to improve your job hunting skills by getting better at interviews, then you can certainly benefit from such a course. Universities typically offer soft skill courses either through graduate schools (for graduate students), or through the library or research department (for Bachelor's and Master's students). Sometimes these courses are offered online, which can be useful for those unable or unwilling to head to the campus. On top of this, there is a wealth of information about soft skills online, whether in article or course-format. Check out places like Coursera or Udemy where you'll be able to find often-free courses on many soft skills.
If you're doing an economics degree and thinking about ways to maximise your career prospects once you graduate, there are lots of courses outside the realm of economics for you to choose from.
Econometrics, Statistics and Quantitative Methods (JEL C)
How to Write a Successful Motivation Letter for Economics Conferences
Browse our economics conference listings Start with the basics: your name, institutional affiliation, and a very brief career recap You should open your letter of motivation by introducing yourself and giving basic information on your current role and the current topic of your economics research. You may want to include a sentence in which you mention the positions you have held previously, or any grants which you have been recently awarded. However, the majority of your letter should be about your research rather than about yourself, so keep this section short and to the point. Give a basic description of your economics research You don't need to describe the exact details of your research, such as the experimental methods used or the results which you have gathered so far, as this information should be contained in your abstract. But you should give a simple summation of which sub-field you work in and what your research is about. Keep this general, as the people reading it may not be experts in your area. Imagine you were describing your work to a friend who works outside of academia, and write a few sentences about your research in this style. <11an>limit:2;categories:conferences;disciplines:General Economics (JEL A)</11an> Fit your topic to the conference theme As well as a general topic or subject which they cover, many economics conferences will have a theme which is different each year. The theme will typically reflect a large or important issue in the field which has been prominent over the year. If you can find a way to fit your research into the conference theme, this will greatly improve your chance of being accepted. The fit doesn't have to be perfect, but the themes are usually designed to be flexible, so put a sentence into your abstract about how your findings do or will impact on the theme and you'll make your presentation more relevant for the conference organizers and the audience. Be specific about the benefits of your economics research You probably know that you should describe all the ways that your research could have an impact on the field, in order to persuade the conference organizers that the attendees would benefit from hearing about your work. However, you should avoid the common mistake of describing the benefits of your work in generic terms. For example, 'This work will help to develop a more complete understanding of [this particular sub-field]' is too vague and is not convincing. Instead, be specific about the benefits of your work, for example 'This work will add the perspective of [a particular group] which is currently missing from analyses in [this particular subfield].' Also make sure to note why your research timely and of relevance at this time in particular. For example, 'Following the publication of [major work] last year', or 'With the [major world event] approaching next year, this research adds [a new perspective/important data/a new theoretical framework or idea] which is important at this time because...' Describe how your economics research is relevant to the conference audience You should consider why your work would be of interest not only to other members of your field in general, but to the audience at this conference in particular. For example, if you work in psychology in the field of mental health, and you are applying to a conference with a strong clinical focus, then you could describe why your work would be useful to clinicians for their practice. Or if you are applying for an interdisciplinary conference, describe the relevance of your work to the other fields represented at the conference.
When you apply to present at an economics conference, you'll often be asked to provide a letter of motivation along with your abstract and CV. This is used to decide which applicants will be invited to give a talk or poster presentation at the conference. But what information should this letter of motivation contain, and what's the best way to increase your chances of being accepted to present?
High-Salary Career Options for Economists
All of that not enough to put you off? This INOMICS writer admires your determination. Despite the many pitfalls on the way to becoming rich, and despite the fact it might not be all that good when you get there, it is true that an economics degree can stand you in good stead to make some decent coin. An investigation from GoodCall found the third most likely degree millionaires have is one in economics, behind engineering and an MBA. To that end, we’ve listed some of the most remunerative jobs for economists to consider if they’re planning on making a nice (though not necessarily quick) buck. Download the INOMICS Handbook! Trading finances Perhaps not the first job economists think of when they graduate, but traders can make a hell of a lot of money if they’re particularly good at their jobs. Trading isn’t quite the same as stockbroking (as if you didn’t know): the stockbroker generally helps interested parties find, buy, and sell stock, agreeing prices between buyers and sellers, whereas the trader actually purchases and sells the stock themselves, sometimes with the help of a stockbroker. You’ll have to be on the ball for this role, monitoring the financial market and the performance of securities, and you’ll need to accurately analyse and evaluate costs, risks, and returns. How much you’ll earn doing this is highly dependent on your skills. The average salary according to Zippia.com is just $56,000, but as you might guess, some traders can earn far, far more money than this, becoming multi-millionaires - think the Wolf of Wall Street. (We here at INOMICS recommend always playing by the rule book and not engaging in any of the illicit activities Jordan Belfort did. Aside from that, Belfort was a stockbroker, not a trader, but you get the point.) Managing compensations and benefits Like the spread of germs? As a Compensations and Benefits Manager your grubby mitts will be handling money all day long. You’ll be looking after a company’s payment system and its employees’ benefits, including things like health insurance, retirement plans, dental, bonuses, that sweet company car the CMO wants, whether or not the Product Developer gets their gym membership so they can pump iron every lunchtime instead of socialise, and all the rest. It may sound a little simpler than the rest of the careers listed here, but you’ll be doing essential work in making sure the company’s workforce remains content (at least with regards to how much moolah they’re getting). You’ll have to enjoy, or at least be comfortable, working with people for this role, but you’ll be rewarded handsomely: Americans in this position earn, on average, around $115,000. Not bad. Actuarying Yes, that’s a verb. Actuaries use their monetary knowhow and economic acumen to analyse and manage risk. They’re the prophets of the modern age, using their crystal balls (read: economic expertise) to look far into the future, forecast economic difficulties, and figure out ways to minimise any potential damage. Nostradamus, eat your heart out (though hopefully you’re more accurate than he was). Normally you can get yourself partnered with a more experienced actuary at a company with just a Bachelor’s degree, but you will have to do some extra exams - always more exams! - to get certified and go it alone. So go get your tarot cards - that future risk ain’t gonna calculate itself. Actuaries in the US can earn upwards of $115,000. Managing finances Perhaps self-explanatory from the title, a finance manager manages, well, finances. You’ll be producing reports, advising and directing where investments should go, and strategizing to make sure the individual, organisation or company, long term, makes dollar. You’ll have to be pretty good at predicting the future (based on data, of course) and you’ll need to have your finger on the pulse of the market and any and all trends contained or developing therein. Data analysis is a big part of this role - but presumably all of you economists reading this article are already pretty comfortable with numbers and big data sets, so that’s no problem, am I right? The average salary in the US of A for a financial manager is around $112,000. Working for The Man Might seem like the thank-you-captain-obvious option, but becoming a straight-up, bonafide government economist with your economics degree is one of the most lucrative - and potentially rewarding - career paths you could take. Economists work for government organisations or research institutes, making reports and conducting research that influences government policy and/or the direction of businesses and funding. With climate systems breakdown currently such a big issue on the agenda, you might find yourself using your economic prowess to help mitigate environmental damage. Exciting stuff, not to mention important work. Median salaries float around the $100,000 mark for an economist working for the US regime. Teching it up According to a 2019 investigation in the Harvard Business Review, economists started playing a much bigger role in the tech sector in 2019. Tech companies, obviously including the big boys like Amazon and Google, but also smaller startups, have begun to hire groups of economics PhDs. Why? Firstly, because looking at data and solving problems of a monetary persuasion with cold-blooded rationality, which a degree in economics obviously inculcates, lends itself to big business; and secondly, because economics has something very specific to say about markets and how businesses work within those markets, particularly in the digital age. So ever wanted to work for an edgy startup? Feel like what’s really missing from your job is a ping pong table, discount on Brewdog craft ales, and a dedicated area for team members to take naps? You’re in luck if you’ve got a degree in economics. The average position at a tech company pays around $80,000 - but that’s not all you can earn. Get yourself up to the role of Finance Director at Google and you could be earning over $250,000 a year, with a bonus on top of around $350,000. (Chance would be a fine thing.) Time to make some $$ So that’s just six of the many bankable roles available for you, with your economics degree, you lucky thing. Plenty of other jobs that can pay anywhere from $50k to over $100k per year also exist, like personal financial adviser, healthcare analytics specialist, economic consultant, budget analyst, and more - the list goes on. Looks like you picked a pretty good degree to make some decent bread with, eh? Well, good for you. Remember, though, that in whatever career you do decide on, money isn’t everything. (Yes, that stands in direct contradiction to the rest of this article, but hear me out.) Money can be nice, but it certainly shouldn’t be the only factor you take into consideration. Don’t forget you also have to have a social life, hobbies, free time, and all those other things that contribute to making a well-rounded, enjoyable existence on this football we call Planet Earth. So get out there and look for a job that isn’t just going to put some paper in your pocket, but will make you happy, too.
Before you start considering what crazy lucrative job you are going to get with your economics degree, consider this fact: a lot of rich people don’t like their money. Many complain about not knowing what to do with it all, yet simultaneously having huge anxiety they’ll lose it. They moan about their friends treating them like walking bank accounts, being judged for not looking the part, and no longer being able to visit - how to put it delicately? - less refined establishments. Many work like dogs in jobs they don’t find fulfilling to top up the coffers, only to realise they never have any time to have fun with it. And all jokes aside, some studies suggest that, while earning more money than the national average does improve life satisfaction, once you get past a certain salary threshold, money stops making you any happier. (Depending on where you live, this is around $100,000.)
Survey: Is "To Whom It May Concern” Acceptable on a Cover Letter?
But does it really matter how you start your cover letter? To find out, ResumeCompanion conducted a poll of over 1,000 hiring managers from across the United States to determine how they view “To Whom It May Concern” being used on an applicant’s cover letter. No big deal: 83% of hiring managers disclosed that seeing “To Whom It May Concern” on an applicant’s cover letter would have little or no impact on their hiring decision. For years, experts have insisted that when you’re formatting your cover letter, you should avoid using “To Whom It May Concern” at all costs. But countless job seekers begin their cover letters with “To Whom It May Concern” anyway — they can’t all be unemployed. So to discover the truth, ResumeCompanion conducted a survey of hiring managers from across the country. The results of this survey deal a shocking blow to the expert consensus. Over 83% of hiring managers polled revealed that seeing “To Whom It May Concern” on a candidate’s cover letter would have little or no impact on their decision to hire or interview that person. Even more fascinating, however, is how the data varied according to the age, gender, and location of each respondent. Men are three times as likely as women to reject a candidate for starting their cover letter with “To Whom It May Concern.” The majority of both men and women agreed that seeing a candidate use a generic introduction on their cover letter would have little impact on their hiring decision. However, men are clearly touchier about the subject. 6% of male hiring managers stated that they would reject a candidate outright for using “To Whom It May Concern” on their cover letter. Compare that with the 2% of female hiring managers who said the same, and there’s clearly a gender divide. If you find out a man is going to be reading your cover letter, try to address him by name to boost your chances of success. Yet if you can’t find his name, it’s still most likely fine to address your letter with “To Whom It May Concern” since neither gender seems to mind much. Even more interesting is how results differed by age: Gen Z hiring managers are the most likely to reject an applicant for addressing their cover letter with “To Whom It May Concern.” If internet memes are anything to go off of, you’d assume that the most likely person to get worked up over your cover letter introduction is older — maybe a prickly 60 year old? However, according to ResumeCompanion’s research, the reality is the opposite. According to the data, the most likely age demographic to reject a candidate outright for beginning their cover letter with “To Whom It May Concern” is Generation Z (ages 18 to 24). True to their reputation, though, older hiring managers (ages 55 to 64) are still the second most likely to reject a candidate for starting their cover letter with a generic introduction. Meanwhile, Millennial hiring managers cared the least about whether candidates use “To Whom It May Concern” on their cover letters. Also interesting are how the results vary according to geographic location: Hiring managers from the Midwest are most likely to reject an applicant for starting their cover letter with “To Whom It May Concern.” A significant 22% of hiring managers from the Midwest admitted that seeing “To Whom It May Concern” on a cover letter would make them less likely to hire that candidate. This makes the Midwest the strictest region when it comes to how you should address your cover letter. This is in stark contrast to hiring managers from the Northeastern United States, where only 10% care whether or not a candidate opens their cover letter with “To Whom It May Concern.” Takeaway: “To Whom It May Concern” isn’t the cover letter killer that experts claim it is. Here’s the bottom line: if you can’t find the hiring manager’s name, using a generic opener like “To Whom It May Concern” isn’t a big deal. However, it’s still far from the best way to introduce your cover letter. Before falling back on a generic opener like this, make sure you exhaust your options for finding the hiring manager’s name. To help you in your search, here are a few methods for finding the hiring manager’s name that you may not have thought of: Search the company website to see if they have a directory. Browse the company’s LinkedIn to find their associated employees. Google the company name and the phrase “hiring manager” or “human resources.” Call the company and ask the receptionist if there’s a name you can use on your cover letter. If all else fails, just remember that the vast majority of hiring managers don’t actually care how you address your cover letter, so long as the rest of your application demonstrates that you’re qualified.
If you’ve ever researched how to write a cover letter, you probably know that career experts from all over the internet agree you should never address your cover letter with a generic introduction like “To Whom It May Concern.”
You may also have a steady partner, or are thinking about settling down in the next few years, which opens the possibility of starting a family, if you haven’t already. The game is about to change. Whether you are already working or are applying for a job, you have some new things to think about and multiple, often contradictory priorities to balance (welcome to parenthood). For the sake of simplicity, let’s break this down to: parental leave; childcare; working time; employer/employee relationship; finances; and stress-levels. Apart from the stress, the rest is to some extent directly affected by where you live and the laws/benefits available, where you work or are applying to work, and the conditions and attitude of your (future) employer. The stress, in turn, influences and is influenced by the others. Sound complicated? It is a bit, but you’ll get there. Most parents do. Here’s a rough guide. Looking for a job? Check out our job listings Parental Leave Start thinking about how long you and your partner anticipate taking off work, because your childcare plan, and following that your work/career plan, will invariably be based around this decision. You’ll need to familiarise yourselves with your rights as an employee, which vary considerably from country to country, or in the case of federations like the US from state to state. In most countries maternity leave is considerably more generous than paternity leave, but check national guidelines for where you live. Typically there is a distinction between parental leave and parental benefits. You may be entitled to take several years off, while retaining your job, but any income from the state is normally somewhat less than your normal salary, and for a limited number of months only. Most people receive their parental benefit at the same time as taking their parental leave, to cover the drop in income. But this doesn’t always have to be the case, and there can even be benefits, for example in tax savings, by decoupling the two and spreading your income over different financial years. It may sound obvious, but whether or not you consider going to work a net cost or a net benefit, there is also an inverse in the form of spending more or less time at home with a baby or small child. For some this sounds great, whereas others would be hard pressed to think of a greater torture. There is no “right” answer. Again, welcome to parenthood. The best advice is to inform yourself as much as you can to reduce the information gap about what each option really entails. With this, you can at least attempt to assign a realistic value and cost in relation to each of your options, in terms of finances, personal goals, and career goals. Read up, but most importantly talk to your partner, friends and family, and do some honest introspection to decide what is best for you, your family and your child. Childcare Having thought about how much time to take off-work, you also need to consider how much time you need to take, inversely, “off-children”. If both of you expect to work at least part time, some form of childcare will be necessary. If you anticipate using organised childcare (nannies, childminders or nursery school/kindergarten), look into that early on, especially if you expect to need it in the first two years of your child’s life. Waiting lists in some cities can be a year or more for in-demand nurseries: you really do get people reserving places for children that are not even conceived yet. That is extreme, but it is still worth finding out from friends, family, or colleagues what the situation is like where you live. And then the money. Depending on where you live, pre-school care can range in cost from almost nothing to most of your monthly salary. If you are sending your kids to nursery for the social benefit and/or because you need to return to work, maybe a high childcare cost is acceptable. Spending much or even all of your income on childcare may sound preposterous, but factor in the value of whatever you will do with your child-free time (work, meet your friends, sleep) and it begins to seem reasonable. However, if the cost is too high, it may make more financial sense to take a longer break from work, or share childcare with your partner, rather than working your socks off for a take-home monthly income that, after childcare costs are deducted, comes to a grand total of somewhere in the vicinity of zero. Finally, but importantly, do family or friends present you with options? If there are grandparents in the picture, perhaps they are up for taking the kids a few hours or days each week. Some families pool childcare responsibility with brothers, sisters, cousins or neighbours. Whatever you can organise, the time made available to you will give you precious working time, and perhaps even-more precious free time. In any case, once you have at least an approximate idea of your plans for parental leave, and a feasible plan for childcare, you can come back to the topic of that job... Working Time and Employer/Employee Relationship Many companies offer flexible working models, or offer employees reduced hours. Especially in the post-corona age, many managers will have had a positive experience with their team’s working remotely and working reduced hours. First indications are that more companies are likely to be more open to non-traditional working models than they were pre-2020. The BBC, for example, highlights some high profile examples which indicate that remote and flexible working models might be here to stay after the COVID-19 pandemic. If you already have a job, talk to others in the company to find out whether family-friendly working models are widespread, and so what kind of options might be available to you, before you approach your boss. If you are only just applying, use the application process to find out your options. Many employers have transparent policies when it comes to working conditions for parents. If not, think about if and how to raise the topic during the interview stage. Apart from your legal rights and official company policy, key to any adjustment in your working schedule is the attitude of your manager(s). A sympathetic manager may value the motivation of young parents to work hard and fulfill the responsibility they feel to provide for their children, and therefore be more understanding. Managers may also appreciate the ability of parents to focus, and use their (limited) time more effectively than they might otherwise. Many parents transfer skills they develop as parents to their work environment, for example exhibiting better organisational skills than their long-gone childless selves could ever have dreamed of. Other managers, on the other hand, may be agitated by the work-ethic of parents, noting the multiple and extended periods of leave, occasional no-shows or sudden departures from the workplace, long phone calls with anxious partners or concerned teachers, and a general feeling that work is not their employee’s top priority. If this is your manager, your decision will be between allaying this feeling, keeping your “parenting” out of the office and wearing a different hat when you enter the workplace, or looking for a new job. Working out how to balance your work with your family life, or making a decision on whether a job you are applying for is even going to fit with your current life situation, may well depend on what kind of attitude predominates at your (potential) place of work. Figure this out, and not only will your work benefit, but your family life and stress levels too. And speaking of stress... Parting Starting Advice: Manage Stress-pectations If you have children, there is going to be stress in your life. You have responsibility for another human being, financially, emotionally and physically. These things were stressful enough when it was just you. Assuming the other parent is around, they will, at times, also struggle with those worries. So on top of your own concerns at home and at work, you will probably need to support them more, too. On top of that, you will likely feel annoyed at having to do so, and at yourself for feeling annoyed. It just keeps adding up, or more accurately, multiplying. Factor in some regular work stress, or stress applying for jobs, combined with the additional stress of being tired, less effective, and sometimes less available than you normally would be for your workmates, and you will start to get the picture. If you think you can balance everything without going through a learning curve, think again. The best advice in short is to manage expectations: both your own expectations for you and your partner, and the expectations of your colleagues and managers. Expect there to be periods of high-pressure, and multiple bumps along the road in your relationship, working-effectiveness and self confidence. If you expect a rocky, winding road, you will be better able to navigate it. Work out what you can realistically manage in terms of time off work and time with children. Think about your own expectations and set some clear, realistic goals. At first this may be as simple as getting dressed and having a shower at some point during the day, or getting through a four hour working day without crying. Longer term it may be that you can take on one area of your work and fulfill it satisfactorily, or that you organise your week well enough to take part in a weekly team meeting, building up to a more regular, reliable workload. Communicate with your partner. Do you both have the same expectations of each other when it comes to looking after the kids, doing the housework, winning the bread? Most couples experience tension in the first year or two after expanding their families. That’s okay, but you can reduce the short-term stress, the pressure longer term and reduce the risk of damage if you stay more or less on the same page. Finally, make clear to your colleagues and bosses what your situation is. If you expect prolonged periods with reduced availability, then communicate it. It may seem awkward at first to reject responsibility at work, but if you try and take on everything you were doing before too soon, you will do it poorly and impress no-one. Instead, don’t over-promise: take on less, but do it well. Show that even if you are working fewer hours or sitting out on a couple of projects. you can work effectively, perhaps even more effectively than before. With a bit of patience while you navigate the inevitable bumps in the road, and perhaps a reduction in your career speed while you handle the chicane presented by your adorable but non-sleeping children, you and your partner can, if at varying times and to varying extents, position yourselves to accelerate out of the curve empowered, enlightened and with a new sense of purpose. Perhaps your definition of career success is a little different than it used to be, but whatever it means to you, having a family does not have to put it out of reach.
You are educated, qualified and consider yourself reasonably intelligent. You have handed in countless papers, proposals, and at least one thesis. You probably have some experience under your belt, maybe already landed a pretty good job with good prospects. You are confident of your ability, ready to work evenings and weekends, and keen to impress.
INOMICS unveils its A-Z of economics terms
But there’s always more we can do, and we felt the time was ripe to expand our help section to try and give even more value to young economists who are just starting out in the game. So without further ado, we’re proud to unveil our new A-Z of economics terms. Our A-Z is simple - we have professional economists write accessible but in-depth overviews of some of the most important economic terms that you will need for your studies. Starting out, we are focusing on microeconomics terms, but soon we will be expanding to macroeconomics, environmental economics, and every other type of economics you can think of. They aim to offer an insight into exactly what the term means, put it into context to make it easy to understand, and give a brief insight into where the term has been used and where you can find more academic information on the concept. First, head to inomics.com and take a glance at our header navigation. Hover your mouse of the section ‘Insights’ and you’ll see a drop down menu with the option listed ‘Economics Terms A-Z’. Give that a click and you’ll be taken to our list of all economic terms, handily listed by the first letter of the term, making it easier to find exactly what it is you’re looking for. And if you go further and click on an actual term, you’ll be able to see all the information about that term, including links through to any related definitions which we think help explain certain concepts which have been referred to. Let’s have a look at one example, adverse selection (long picture incoming): As you can see, this definition of adverse selection includes a brief, one or two sentence definition at the top, followed by a longer, more in depth definition with examples. Then some further reading is recommended which can help to expand your knowledge even more, and finally, a ‘Good to Know’ section which offers tips on how to avoid common potholes when using a term and explains some of the more tricky aspects a definition may have. Right at the bottom of the page we recommend some related terms which may be useful knowing. Watch out, too, for some of INOMICS' very own video explanations which will be appearing with some of the definitions in the coming weeks! So there you have it! INOMICS’ new Economic Terms A-Z is a godsend for anyone currently studying their economics degree and needs an accessible but thorough overview of tricky economics terms. Written by professional economists with experience at doing stuff like that, it’s a great addition to our Advice section, which offers economists tips in their studies and jobs. Confusing term getting you down? Head to INOMICS for an explanation!
Here at INOMICS, we’ve always been dedicated to trying to help you, the economist (fledgling or otherwise) get the most out of your education and career. Whether that be offering you the best new courses and conferences, nudging you towards the perfect university degree, or helping you apply to jobs once you’re done studying, we’re there to give advice and present opportunities you may not have otherwise found.
Dress Code for Economic Conferences: What to Wear and What to Avoid
Having previously helped thousands of INOMICS users find the right economics conference for them, it seemed only polite to give some general guidelines about what’s appropriate to wear once there - we know you economists are a particular bunch! Hopefully this advice will allow you to check one small thing off your (very long) checklist, and allow you to focus on the more important aspects of attending an academic conference: the networking, presenting, and possibly - fingers crossed - even having fun! So, let's get serious. Check out our conference listings The basics It’s quite likely that you’ll be traveling prior to the conference and might not have access to an iron. This one should keep in mind. Moreover, remember to pack clothes that work for both standing and sitting (there will be a lot of both, economists really can talk) and won’t be completely wrinkled after a few hours. With this in mind, avoiding linen is probably a good idea, unless, perhaps, your conference is taking place on a tropical island. In which case, lucky you! Bringing some back-up options is always a good idea in case one of your items of clothing gets a wee bit dirty or, god forbid, you have an accident. Wearing dark colours is normally a good idea as they are universally flattering and hide wrinkles and spillages well. Finally, pack some layers; you might be in a room with an air conditioner for one talk and in a veritable sauna the next, and you don't want to be distracted by being too hot or too cold. Smart is better than casual Broadly speaking, it’s always better to dress up rather than down. While “business wear” can mean a full suit for some folks and jeans and a nice top for others, it’s better to be the only guy with a tie than the only one without. No matter what time of year, shorts are never a good choice, as they come across as too casual. For women, skirts and dresses are fine, but nothing too tight or short, as this can seem unprofessional. A nice blazer or scarf can dress up a plain outfit. Be aware of what you’re wearing on top though – as a general rule you shouldn’t show any cleavage, as it can be distracting or even offensive, and it’s better just to err on the conservative side. Dressing for presenting If you’re presenting for the first time, remember that your presence can be nearly as important as your presentation. In order to seem professional and poised, avoid large jewellery or busy prints, and make sure your hair is not hiding your face. Women can wear heels, but make sure you’re comfortable walking and standing for an extended period of time. Aside from this, whatever you're wearing you should try and be as confident as possible when presenting. Squaring your shoulders, standing straight and having your legs at shoulder width apart is a body position that suggests confidence and authority. Doing something like this makes you look assured and assertive, which is just as important as looking smart. Do some practice runs with some economists friends in the days leading up to build up confidence. It's always a good idea. Simply ask Finally, if you’re unsure of the basic dress code for a conference, don’t be afraid to ask. Some disciplines are generally more formal than others (finance versus computer programming, for instance), so generalities only go so far. The conference organisers should provide you with guidelines, but it’s perfectly fair to bring it up if it’s unclear. Moreover, don’t feel pressured to completely let go of your personality in favour of a professional wardrobe. As long as you feel comfortable, you’re more likely to come across as confident. Interpret our suggestions as they make sense for you, and just remember to bring a few extra options for surprise occasions like extra dinners, unexpected weather changes or other unforeseen circumstances. Go on. Knock 'em dead.
While you may be used to the daily routine of graduate school or teaching, presenting at a conference, or even just attending one, can be a whole different activity. The preparatory checklist is long enough as it is, without having the added conundrum of worrying about your appearance. If you’re in business school, perhaps you’re used to ironing your button-down shirt and slacks every day, but most academics cringe when they hear the term 'business casual'. But fear not. We, the gracious folks at INOMCS, are here to help.
Download the INOMICS Handbook! Communication At the top of every list of essential soft skills seems to be communication. Effective communication doesn’t just mean being able to talk to another person as though they are a human being (although this is obviously useful on a day-to-day basis) – it also means being able to adapt your communication style to different people based on their seniority, age and relationship to you. It means having the ability to adapt your presentation skills, according to whether you’re talking to five people in a thesis workshop or five hundred at a conference. It means being able to write a pithy research proposal for your PhD thesis, slog out a decent essay introduction that remains concise and yet easy to understand, or compress your ideas into a couple of sentences to efficiently get across exactly what it is you do, want, or need. It also means shutting up and listening to someone else speak in order to learn and grow. This last part includes emotional intelligence, something very important for effective communication. If you can’t empathise with people, it’s impossible to communicate effectively with them. Communication skills will help you in every aspect of your life, from forming new relationships with people (this doesn’t necessarily mean friendship, but rather contacts; an essential part of networking is communication) to listening to what others have to say even when you disagree with their opinions. So how to improve these communication skills? A good way is to surround yourself with people you know are good at communicating – whether that means getting someone who can hold an audience to help you with your next presentation or sitting down with a colleague who seems to know absolutely everyone to help you improve your networking skills. You could also take a course in communication (yes, they exist), or throw yourself in at the deep end by forcing yourself to present and talk to people as often as is humanly possible. Teamwork So what’s next, once you’ve learned how to effectively communicate? The next step is using this skill effectively as part of a team. Humans are social animals, and two heads (or three, or four) are almost always better than one. Solving problems with other people means you’ll hear ideas you would have never thought of by yourself, while additionally becoming familiar with disparate perspectives and means of deciphering complications. But it’s not just about coming up with solutions. It’s also about simply working together with people in the same office or classroom, and being flexible with their plans so you can work together when it’s convenient for both of you. It’s about listening to other people, respecting their viewpoints, and being able to articulate yourself so you can disagree or agree when necessary – being polite while maintaining your integrity. Essentially, it’s about being able to trust others to help you, whether that’s planning and organizing a task together, making important decisions as a group, or using all of your brains to solve a problem. All of this can come in handy when, for example, you need to work with other students or researchers on group projects. Collaborating on a university project can be a great way to improve your teamworking skills. Time management and self motivation The flip side of this, of course, is that it’s also imperative to be able to work by yourself and manage your time effectively. Working by yourself involves having some self direction – that is, motivation to work when there’s nobody pushing you to get stuff done – as well as the initiative to know what to do next. Prioritising can be a difficult task in and of itself. It involves making sure you know what’s most important to get done – not only for yourself, but also for the other people in the team and the company in general. Delegation can be helpful when prioritising, leaving you to get on with more critical tasks. Another technique is to keep a to-do list in order of priority – but make sure organising your to-do list doesn’t become a stressful task. Perhaps most importantly, learning to say no will do wonders for your time management. If someone asks you for help and you think it will distract from more important tasks, or if it’s something that shouldn’t be delegated to you, or if you simply can’t find the time, it’s okay to apologise and say no. The alternative is to take on too much and stress yourself out, leading to lower-quality work, or worse, simply not getting everything done. Being a leader What was the soft skill LinkedIn said was going to be the most likely to get you hired in 2018? That would be leadership. Leadership is the quality of being able to inspire people, talk clearly to them about your ideas, and actually see things through. Leadership is really a combination of many different skills, including most importantly communication, but also being hardworking, delegating, being responsible, going above and beyond your expected work, and creatively finding solutions to problems. On a more basic level, though, a leader is someone people are willing – even happy – to follow. It also includes skills less related to working and more towards people – being open, empathetic and communicative with your employees and a person to whom they can come with questions and concerns is vital. You need to retain the ability to be professional while not coming across as too ‘corporate’, meaning being social while acknowledging the inevitable hierarchies of the workplace. It means listening to your employees’ ideas and judging their utility fairly. Leadership is perhaps the hardest skill to improve as it encompasses so many other qualities, and it seems that some people are simply born leaders. But despair not. There are a few things you can do to improve your leadership skills. Classes exist on refining body language, problem solving, and management and leadership skills. Improving your communication skills can also help you become a more effective leader, opening you up to other people and making you more empathetic (or at least seem so). Other more abstract ways of improving this skill are maintaining a sense of integrity and being passionate about what you do. People are often drawn to leaders who are obviously passionate and genuinely care about what they are trying to achieve. There are many different types of leaders – coaches, dictators, authoritarians, democrats and partners, to name a few. Each of these styles has upsides and downsides. Find the leadership style that fits with your aims, personality and strengths, and hone your other soft skills as best you can. Get to work In the end, soft skills are just as important as the hard skills with which we’re all familiar. Unfortunately, they’re usually more difficult to hone. But it can be done, and employers and bosses love to see them in action. However you choose to improve yourself – through classes, by surrounding yourself with accomplished soft-skillers, by throwing yourself in at the deep end, or a mixture of all three – try to spend at least a little bit of time improving your communication, teamworking, time management and leadership skills. If you do this, you’ll be nicely set up for the myriad job interviews you’ll undoubtedly be attending in later life.
Everyone knows about the hard skills you need to be able to succeed in economics or in academia in general: excellent writing and proofreading skills, the ability to extract information from what are often dense scientific texts, and being able to evaluate and analyse data effectively, among other things. But they aren’t the only skills you need to have. There are, of course, the dreaded soft skills – a slippery term that can mean anything from being able to clearly communicate your ideas to another human being to more abstract concepts like emotional intelligence. But what are the most important soft skills to have, and how can you develop the ones that need some more work?
Browse our job listings in international economics 1. Work as an analyst One of the most popular career paths for economists generally, and for international economists specifically, is working as an analyst. This is a broad term which refers to anyone who performs work in which data is analysed in order to find particular patterns or to determine the best course of action. There are many types of analyst role which an international economist could take on – from financial analysts, who analyse businesses' equity and securities, to research analysts, who dig through data which is collected as part of a research project, to policy analysts, who work on investigating the effects of public policies to see whether they are effective. You could find a job as an analyst at a private think tank such as the Peter G. Peterson Institute for International Economics, in a business such as Reis, a commercial real estate analytics company or for the federal or local government. 2. Work in the finance industry Another big employer of economists is the finance industry. Having a knowledge of international affairs and international money systems is highly useful in an increasingly international finance market. You might find work with a bank or an insurance company, working in a role such as financial analyst, financial management, or investment banker. Work in the finance industry tends to be very well compensated but is also high-pressure and with long working hours expected. If you love to throw yourself fully into projects and don't mind putting your social life on the back burner for a time, then you could find work in the finance industry to be very rewarding. However, if you're looking for a job with good work-life balance or a strong social outlook, this may not be the industry for you. <11an>limit:2;categories:jobs|conferences;disciplines:International Economics (JEL F)</11an> 3. Work for a global organisation A way to put your specialist knowledge of international economics to good use is to work for an international organisation such as the IMF. The global money system is vast and complex, and the organisations which try to regulate it are becoming more important as globalisation keeps spreading. In a global organisation you might find a role performing research, promoting particular policies, or navigating national and international law as applied to finance. This kind of work is suited to someone who has an open mind and is understanding of different cultural and political viewpoints. It's the kind of work which requires being able to work with other people from all over the world. 4. Work for the government Finally, one obvious employer for international economists is the government. Economists work in all branches of government, but international economics is a particular match with the governmental branches dedicated to diplomacy and international relations. The United States Foreign Service, for example, employs economics officers who design and oversee economic programs in developing countries. This kind of work is not well paid but can be greatly personally rewarding as it puts the skills of an international economist to direct use in improving the lives of people abroad. It requires the ability to collaborate effectively and to manage complex projects, making it well suited to people who are highly organised and able to juggle many different priorities at once.
If you're an economist and you're thinking about working in the field of international economics, you might be wondering what kind of career options are open to you. Here are a few suggestions for jobs which you could do.
The job market in the North has become much more competitive and much more appealing to talented professionals. It was once London, and only London, that would attract interest from the hottest industry talent - but those days are gone. More professionals are open to living and working outside of the vibrant capital. Now, they're opting for the bigger bustling cities in the North such as Manchester, Sheffield, Leeds, Newcastle and Edinburgh. So why is there a shift in attitudes? Browse our job listings for more opportunities Why professionals are looking north London has a lot to offer young workers, but the cost of living, overpriced accommodation and fast pace of the city can be avoided if workers look at northern cities instead. Young professionals can still enjoy city life at a fraction of the cost of living in London - in both money and time. Data suggests a first-time buyer will have to put down a deposit three times the national average, and this has been the main reason why job opportunities and competition for them is booming in the North. However, the job market in the North has not grown by demand alone: there are also many renowned and international companies looking for new staff in the North. This can be proven with a quick search for jobs in Manchester, or for jobs in the other northern powerhouse cities. Job applications: the facts and figures Research also backs up claims that the North has a healthy and prospering job market. One job search site has been digging around and analysing job opportunities and job applications made to companies in these northern cities. Its findings indicate that there really is a northern job boom. It found a number of cities had received significantly more job applications over the previous two-year period. These cities were Manchester, Liverpool, Newcastle, Sheffield, Leeds and the two major Scottish cities, Glasgow and Edinburgh. In fact, Glasgow had one of the biggest rises in application with a staggering 41% increase. This was followed by Edinburgh (36%), and Sheffield and Liverpool both with 14% rises. Do job advertisements match up? The good news for these applicants is that there was also an increase in job advertisements during the same period. It must be noted that an increase in job applications may well be the result of an increase in job advertisement,- as logic would suggest. However, the sharp rise in applications also suggests more than advertisements are pulling people to the north of the UK. The aforementioned northern cities receiving more job applications also offered more jobs as a collective, with an average increase in jobs of 17%. Edinburgh again was up there and increased the number of advertised jobs by a phenomenal 80%. The North West of England was also offering more jobs and Liverpool’s job listing rates over the same two years rose by 53%. What jobs are on offer? It is also worth noting the types of jobs being offered in the North and in Scotland. Of course, these areas boast a wealth of opportunities in different sectors, but the increase mostly occurred in transport, sales, customer service, and logistics. Not all of these roles were high paying, but the salary goes further in the North compared to southern English counties and Greater London. Not to forget that some of the biggest UK companies have been moving north too - and these companies do have lucrative salaries and employment packages. Channel 4 has set up in Leeds, Boohoo’s Manchester depot was expanded and HSBC moved part of its retail operations out of London and further north. In A Nutshell To sum up the findings of the latest research and the discussion here: - Northern cities have advertised more jobs in the last two years than before. Notable increases were seen in Edinburgh and Liverpool with rates of 80% and 53% respectively - Simultaneously, and somewhat expectedly, job applications in these cities and other cities such as Manchester, Leeds and Glasgow have also increased. The latter received 41% more applications over the last two-year period - The northern job market is healthy and booming, offering an affordable alternative to London
Brexit may have created a great deal of anxiety and business uncertainty, yet the UK is enjoying a golden period of employment. With more people in jobs and less out of work jobseekers, the UK is experiencing record employment levels not seen for decades. Some of this achievement is down to a job boom in the north of England and in the two biggest Scottish cities.
Economic Development, Innovation and Growth (JEL O)
Urban, Rural and Transportation Economics (JEL R)
Conference Scholarships to Fund Your Conference Trip
Check out our conference listings 1. Royal Economic Society Conference Grant Scheme Also aimed at economists is the RES conference grant, which is open to members who are presenting an economics paper or giving a talk at a conference. This funding available is up to £500 and applications for awards are accepted three times a year, in January, May, and September. Applicants will have to submit a summary of the impact the funding had on their trip and receipts detailing their expenditure. 2. International Atlantic Economic Society Scholarships Conference grants are available for economists living in Turkey, Eastern Europe, and Africa through the IAES to attend their yearly conference which is held in Europe. Awards of $250 to $350 are available, and recipients are invited to present a paper at the conference. 3. World History Association World Scholar Travel Fund Another organisation which offers a scholarship to cover the cost of attendance at its conference is the WHA, which gives funding primarily to academics from outside of North America to cover travel and other costs. In addition to this, they offer conference registration fee waivers for those who are in economic need. There's also a teacher scholarship which can fund a K-12 or community college teacher who is presenting a paper. 4. International Association for Energy Economics Student Scholarships Students in the field of energy economics who are from developing countries can apply for a scholarship from the IAEE to attend their conference. The scholarship covers travel and accommodation costs of up to $1750 as well as the cost of the conference registration fee. 5. American Political Science Association Travel Grants Those in political science who are US graduate students, international students in the US, international scholars, or unemployed members can apply for a APSA travel grant to attend the organisation's two yearly conferences. They also offer scholarships for Latino/a students and other minority groups. You have to live more than thirty miles from the conference location and of course be a member of APSA for at least through the date of the conference you'll be receiving funds for. 6. DAAD Scholarships in Germany German science researchers or international researchers who are working in Germany may apply for a scholarship from the DAAD to cover the costs of attending an international conference at which they are presenting a poster or giving a talk. The scholarships are available on a rolling basis, but the application form is in German so knowledge of the language is required. 7. Government Finance Officers Association Scholarships Professionals from the United States or Canada who work in government finance can apply for a number of scholarships including a minorities in government finance scholarship from the GFOA which cover travel to their annual conference along with accommodation and registration costs. You'll have to have plans to pursue a career in state, provincial, or local government finance, as well as not have received a scholarship before. Each scholarship also has its own requirements.
If you've got a conference coming up that you want to attend, you'll know that there are lots of costs associated with a trip. You'll need to pay for travel and accommodation as well as the cost of conference attendance, which can all add up to a large amount of cash. Often, your department will pay for conference trips, but what if you run out of travel budget, or you don't have this option? In that case, you might want to consider applying for a conference scholarship. These are awards of money given to fund travel and attendance at a conference, usually for students or early career researchers. Often these scholarships will require that you're actually presenting at a conference, but not always - some have different criteria, such as where you are a resident and whether or not you're a student. In any case, there are large databases available to find scholarships for conference; here is a short list to get you started.
Plan B: What to do if your PhD Application is Rejected
Assess whether the department was the right fit for you Sometimes, a rejected application can actually be a blessing in disguise. If your research interests do not align well with the interests of the department to which you applied, then it would be difficult for you to bond with the department and to get the support that you need in your PhD. Some departments or institutions have more broad interests than others, but usually the more specifically focused a department is, the easier it will be for you to study that topic there. So take some time to think seriously about whether your proposed project was a good fit for where you were applying. If not, try to find departments that do research which is more closely aligned to what you want to do. Also consider your own profile – it will be easier for you to be accepted onto a program where you have an academic background in common with other researchers there. Maybe you can find a different department to apply to which is more closely suited to your project. Get more experience Some applications will be rejected even though the project proposal has potential, because the applicant does not convince the assessors that they can perform the work. You are not expected to have a complete understanding of how to perform a research project when you apply – after all, the purpose of the PhD is to teach you these skills – but you do need to show that you have some level of experience. This is especially true if you are changing fields between your masters and your PhD. If you want to move from, say, history to economics, then you would be expected to have some experience with statistics, mathematics, or modelling, for example. If you don't have this experience, you can try to get a job as a research assistant or research worker to help you build up your skills and demonstrate that you can perform the kind of work that you want to do. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> Reapply next year If you've considered all of the above, and decided that the program which you applied to is still definitely the place at which you want to do you PhD, then you can always apply again next year. While it might be helpful to gain more research experience or to perform some new work, often the best way that you can improve your chances of being admitted to a PhD program is by improving your application. Look again at your research proposal and letter of motivation. Make sure that your proposal is realistic and achievable in the typical three year period. Don't just tell people that you have skills in your motivation letter – rather, show that you have the skills by talking about what you have achieved with them in the past. You can also try to contact people at the department you wish to join and ask them for feedback on your application. This can be a hit-or-miss technique, as many academics are very busy and may not have time to help applicants. This is especially true of departments which receive large numbers of applications, so be prepared that you may not receive an answer, and don't be pushy. However, you may find that someone is willing to help you and suggest improvements to your application. It can sometimes help to talk to the admin staff handling applications as well as the academics, as they may be able to give you additional guidance. Browse our PhD listings to find your next opportunity
If you've applied to do a PhD but have been unsuccessful, don't despair! Although having an application rejected can be disheartening, it isn't unusual, and it can often take people a couple of tries until they get accepted onto a course. Here are a few tips on what to do if your PhD application is rejected. If you plan to improve your PhD application this autumn, download our free guide "How to successfully apply to a PhD in Economics"
Tips For Students: How To Find A Part-Time/Student Job To Finance Your Studies
This is not necessarily a bad thing, as there are numerous advantages that come with being employed on a part-time basis whilst studying. The benefits are first and foremost financial - the extra cash can prove invaluable - but there are also additional benefits, such as valuable time management skills - having less free time requires students to organise and manage their time more precisely in order to meet academic deadlines - as well as providing a productive escape from essay writing. Furthermore, in the most ideal scenario your part-time job can serve as an introduction (first step) to a possible future career, and at the very least this will provide a positive experience for future employers to appraise. Concerning employment after graduation, you never want to be in an interview fresh out of university and say that you do not have any previous professional experience. And last but not least, it can be argued that students who have part-time jobs and who are not solely dependent on their parents, scholarships or other sources of funding tend to spend their own money more wisely. Having established the undeniable advantages of getting a student job, here comes the hard part, how do you get one given the scores of students who are in the same boat? Well, here are 6 crucial tips: 1. Use the structures and tools at your disposal. In that regard, your first stop should be the university’s Jobshop or Career Services Office. Almost all universities possess one, and at the very least they will be able to point you in the right direction. 2. Universities draw upon their own students to fill a variety of jobs within their own institution. There will most likely be a regular newsletter or mailing list keeping students informed of the latest vacancies. Never forget, the early bird catches the worm. 3. Remember that you are not the first university student to be seeking employment, so find out how your fellow students have solved the problem. Word of mouth is an invaluable resource in that respect. This is especially true since many jobs are not announced publicly - instead these may be filled through unofficial channels. 4. It could be argued that in our digital world, the only thing more effective and efficient than word of mouth with regards to the circulation of information is social media. So get online and check the various forums for current vacancies. 5. If you are more traditional and not comfortable with new technologies, then you can always arm yourself with your printed CV’s and go door-to-door to local shops, restaurants, bars and pubs. Make sure that you look professional and make a good first impression. Remember that you are neither alone nor the first university student to walk through their door seeking employment, so make sure that you set yourself apart from the crowd. 6. When it comes to finding a student job to finance your studies, remember that the most crucial factor is your own initiative. Although there will no doubt be a support system at your university, this is merely a resource and others cannot plan and attend a job interview on your behalf whilst you sit at home and wait. So be proactive. The only students who don't have a part-time job are the ones who don’t need one or are not looking hard enough.
Given the highly competitive nature of funding opportunities and the ever-increasing cost of higher education, a part-time job is seemingly an unavoidable part of the student experience. Whether it be to earn some more money to put towards tuition fees, or the cost of living expenses or even having a little aside for entertainment and leisure activities, students find themselves increasingly obliged to find a part-time job whilst at university.
How to Write a Cover Letter: Five Steps to Success
In this post, we’ll break down how to write a successful cover letter into five basic components. This information can be applied to any type of cover letter, though it is most closely aligned with a cover letter for a job application. We've also included some examples at the end to help you generate ideas for your cover letter. If you're interested in economics resumes or academic cover letter samples as well, be sure to check out the linked articles. Browse our job listings for economics opportunities 1. Start with a great introduction Rather than restating your name and the title of the job to which you are applying, begin with a strong sentence about what makes the position right for you. Skipping the unnecessary repetition of information and jumping right into your letter makes you look more professional while also emphasising your interest. If you have any personal connections to the institution or organization, mention that in the first few lines. Such connections can set you apart from other applicants, so don’t be afraid to point them out. If you don’t have any connections, use the full first paragraph to express your interest in the position and briefly mention why you are a good fit for the job. 2. Highlight your unique qualifications In the body of your letter, you should include one to two paragraphs describing details about your academic and professional background. This should incorporate information that cannot explicitly be found in your CV, including strengths, interests and achievements that are relevant to the job to which you are applying. Don't be afraid to cite specific accomplishments, as specific details are far more impressive and memorable than bland lists of qualifications. 3. Show you’ve done your research Prior to sitting down to write a cover letter, spend some time looking at the website of your prospective employer. Read about current events, research or other work being done in the area to which you are applying. If there are publications available, take a look at those, noting any points of particular interest. You should not simply reiterate what you’ve learned about the organization, but instead underscore why and your background and qualifications fit with the work they do. By referencing the current work of the organization to which you are applying in connection to your own qualifications, you create a clear link for the hiring team and can set yourself apart from other applicants. 4. Be brief and concise While your cover letter should be packed with useful and interesting information, it should also be short and to the point. As a rule, a cover letter should only be one page long, unless your prospective employer has stated otherwise. In order to keep your letter brief but powerful, read through each paragraph individually and make sure every sentence tells the reader something important. Any superfluous sentences or paragraphs should be removed, as they will only distract the hiring team from what’s important. 5. End with a strong conclusion The final paragraph is just as important as the opening paragraph, as these are what stick in the minds of the person reading your letter. You should reiterate what you said in the opening paragraph while incorporating elements of points you raised in the body of your letter as well. In your conclusion, it is important to demonstrate that you understand what the organization needs and show them that you are the person who can offer it. Be clear but not generic and enthusiastic but not overly flattering – in short, make yourself memorable without going overboard. In addition to each of these components, there are some simple stylistic elements to remember. Choose the right font for your resume to make a great first impression. Second, never send a cover letter in Word form – instead always convert it to a PDF. You could even think about using a cover letter template to really make your letter stand out. Third, for the convenience of the reader, it is a good idea to combine your CV, cover letter and any other application documents into one PDF, with your cover letter on top. Where to include references is also something to consider. Finally, it’s always a good idea to have someone else read through your cover letter before you send it off, as outside feedback can help you edit it down until it’s just right. And now for some examples... Thank you to Novoresume.com for allowing us to reproduce some of their excellent cover letter examples here. You can find more cover letter examples on their website. If you're looking for examples of sample motivation letters for PhD applications check out our guide. Cover letter example for students and graduates Cover letter example for middle management positions Cover letter example for management positions
Whether you’re still a student, a recent graduate, or already years into your career, mastering the art of cover letter writing is useful at every level. In one form or another, cover letters are a required component of applications to jobs, study programs, conferences, scholarships and many other important opportunities along your career path.
The INOMICS Questionnaire: Fratzscher vs Rossi-Hansberg
Download the INOMICS Handbook! Marcel Fratzscher: What is your favorite place on earth? Esteban Rossi-Hansberg: My office: The thrill of having my own space to work and concentrate has never gone away since I got my first office at Stanford’s economics department in 2002. Perhaps the reason can be traced back to my PhD. Back then, Chicago Ph.D. students did not get their own desk. I wrote my dissertation in the cafeteria of the Business School. MF: Outside of economics, what occupation would you have if you could be absolutely anything? ERH: I would be an artist or a chef. I love the creativity and the sense of accomplishment. If you think about it, it is not that different from research in economics. There is a technical part to our work, but the most creative (and best) part involves coming up with useful and beautiful abstractions. MF: What is the virtue you appreciate the most? ERH: Smarts are always useful, but in my experience not that scarce; at least in our profession and at the level required for most endeavors in economics. For me, the most important quality is perseverance and the ability to work hard continuously over many years. MF: Your all-time favourite figure in economics? ERH: I have three favorites, Friedman, Becker and Lucas. In my view, this trio has defined and expanded the reach and methodological rigor of the field more than any other. MF: Your #1 economics blog? ERH: I am not an avid reader of blogs, but I like VoxEu. It is a good, fast way to stay connected with research on a number of issues not directly related to the topics I study. I also like that it is based on real research, not just opinions MF: Your ideal student? ERH: Independent, smart and with a lot of grit. MF: What should be done to address a gender bias in research in economics? ERH: Focus on ideas and their quality, not on who produces them. MF: What is the most misguided research agenda in economics? ERH: Reduced-form empirical studies of the overall economic impact of climate change are misguided. How can we aggregate and extrapolate over hundreds of years without relying on theories of the economic mechanisms of adaptation? MF: What is the most promising current research field or issue in economics? ERH: Quantitative spatial economics: The theory and quantification on this topic have evolved dramatically, and the tools are ready to be applied to a large variety of extremely important substantive issues. There are very few topics in economics where space is not important! MF: Where does economic research have the most influence on policy-making? ERH: Probably monetary economics: Inflation is under control almost everywhere because research helped understand the mechanisms that generated it. The reaction of monetary policy during the great recession was very much driven by existing research as well. MF: On what issues should policy listen more to economists? ERH: Local policy and local investments: Governments and international institutions spend fortunes developing infrastructure and promoting reforms that affect local economies without doing proper, stateof-the-art, evaluations. Urban and regional economic policy is much more influenced by architects and urban developers than by economists. This should change. Economists have good tools to improve spatial and urban policy as well as resource allocation and infrastructure across space. MF: What is your career advice to a young economics researcher? ERH: Try to be methodologically broad, specialize only on topics, never on research techniques. Thematic specialization can lead to more depth in your knowledge, methodological specialization will only put limits on your capabilities as a researcher. Header Image Credit: Marcel Fratzscher / DIW and Esteban Rossi-Hansberg (kindly provided)
Esteemed economist, Princeton Professor, and friend of INOMICS, Esteban Rossi-Hansberg, generously took time out of his busy schedule to take part in the second INOMICS Handbook Questionnaire. Opposite him, in his customary role of quizmaster, was Professor Marcel Fratzscher, president of the DIW Berlin, and one of Germany’s leading voices in macroeconomics. Keeping with tradition, and as a nod to the heavyweight reputations of those involved, we dubbed the encounter ‘Fratzscher v Rossi-Hansberg’. What played out proved illuminating and often personal, the dialogue shedding light on the inner workings of the mystery that is the ‘economist’s mind’. For anyone even loosely connected to economics the following conversation will make an interesting read.
Non-Profit Sector: Job Options for an Economist
Check out our economics job listings Governmental jobs: state and local One of the biggest employers of economics graduates are governments, both state or local. Governments hire economists at all levels to help shape policy, analyse data, and make predictions. Skills required of this line of work tend to include statistical expertise, modelling, data management, data entry and research assistance. The advantage of these jobs is that they are often both stable and reliable, meaning you'll have great job security and likely have good benefits like vacation time and pension payments too. In our age of high-stress and over-time, these bonuses should not be overlooked! International agencies International organisations, specifically international nongovernmental organizations (INGOs) and non-governmental organizations (NGOs), are also big employers of economists. INGOs, like mission-driven organisations the Red Cross and Médecins Sans Frontières, and NGOs, like country-specific organisations the Danish Refugee Council and the Bangladesh Rural Advancement Committee, are all in constant need of economists. The work offered at these organisations is best suited to those who are driven by social causes, and ideally who have a specific passion for the mission of the organisation. On the downside, the work can often be less well paid and less stable than in other fields. That said, the work is among the most worthy out there. Economic development organisations These organisations work toward the economic development of specific areas, cities, or regions. Counted among their ranks are the Arab Forum for Environment and Development and the Alaska Native Arts Foundation. Essentially, they work to influence policy and promote economic development in any given area. The jobs offered in this sector are suited to those with business skills and financial acumen, but also a commitment to a particular region; its local politics, arts, and culture. Union organisation Another area in which economics graduates can find work is in trade union organisations. Trade unions aim to improve labour relations and worker safety and benefits. They are essential in any capitalist society for protecting workers from exploitation. For those with an understanding of politics, seeking to affect change in complex structures, union work can be incredibly rewarding and can make real improvements to the lives of the people involved. Unions can represent both a particular group of skilled workers (such as nurses) or a whole industry of people (such as healthcare unions). Environmental and sustainability roles A growing area of employment for economists is the environmental and sustainability sectors. When an alternative energy company, or initiative, wants to promote the use of their technology over others, they usually employ a team of economists to demonstrate the long-term savings that their technology could bring about. This could be you! As governments are increasingly making steps towards sustainability, more and more funding is being made available for renewables, meaning this sector is growing, and growing fast. As a consequence, there are plenty of job opportunities. City planning and housing organisations The final areas may not be glamorous but are extremely important to people's quality of life - urban planning and housing organisations. Particularly in large cities, the pressures of gentrification and rising rents have led to wide-spread housing shortages. Housing organisations attempt to address this issue by promoting policies like rent caps, by helping tenants who are facing illegal eviction by their landlords, and by arguing for an increase in rent-controlled housing. These organisations are often small and not always very well funded. They do, however, make a direct impact on the habitability of the areas in which they work.
You know that there are a ton of career prospects open to someone who has studied economics, spanning from academia and the finance industry, all the way to management consulting. A big advantage of studying economics is that it gives you a skill set which is applicable and transferrable to many different fields. One particular area of work open to economists is the non-profit sector. Many are drawn to this sector for social reasons; the desire to make a positive impact on the world. It is a highly admirable area to work in, and something that we at INOMICS massively endorse! So, what kind of non-profit jobs are actually available to economists? Here are our suggestions that may be applicable to you.
Public Economics & Economic Policy (JEL H)
Agricultural and Environmental Economics (JEL Q)
Also, as a reader it's useful to know about the most popular and prestigious journals, so that you can more easily locate information which you need when doing literature reviews. For this reason, today we're sharing a list of the top 10 journals in the field of economics, so you can see at a glance which are the big-name journals which you should be aware of. Looking for a job in economics? Check out our job listings. 1. The Quarterly Journal of Economics, Oxford University Press This is the oldest English language professional journal in the field of economics, and one of the most respected. It covers all aspects of the field, but has a specialisation in microtheory and macroeconomics – both empirical and theoretical work. 2. Journal of Political Economy, University of Chicago Press Another long-standing journal, the Journal of Political Economy was first published in 1892 and has since covered both theoretical and empirical work in economics which could have long-term impact on the state of the field. Its specialisations include monetary theory, fiscal policy, labor economics, development, micro and macroeconomic theory, international trade and finance, industrial organization, and social economics. 3. Econometrica, Econometric Society With a specialisation in econometrics, this journal has been established since 1933. It aims to attract high-quality research through awarding of the Frisch Medal every two years, which recognises outstanding research published in the journal. 4. American Economic Review, American Economic Association Established in 1911, this is another well-established and well-respected journal in the field of economics. Once a year, in May, an issue is dedicated to presenting proceedings and papers from the annual meeting of the American Economic Association. 5. Journal of Finance, American Finance Association For the related field of finance, the Journal of Finance is the top place to publish, along with the Review of Financial Studies and the Journal of Financial Economics. 6. Journal of Monetary Economics, Elsevier For those researching in macroeconomics and monetary economics, the Journal of Monetary Economics is an essential read. Covering empirical, methodological, and theoretical work, recent topics have included banking, credit and financial markets, behavioral macroeconomics, business cycle analysis, consumption, labor supply, and so on. 7. Journal of Economic Growth, Springer With a focus on economic growth and dynamic macroeconomics, this relatively new journal established in 1996 covers all aspects of growth, including growth models, income distribution, human capital, fertility, trade, development, migration, and money. 8. Review of Economic Studies, Oxford University Press Another long-established journal, RESTUD as it is known is a must-read for theoretical and applied economics. It was founded with the specific intent to publish work from young and up-and-coming economics researchers; a mission which it continues to this day. 9. The Review of Economics and Statistics, MIT Press In the field of quantitative economics, the Review of Economics and Statistics is the gold standard. The bringing together of expertise from the fields of statistics and economics has resulted in hugely influential models, and this journal covers the most important aspects of this approach. 10. Journal of Econometrics, Elsevier Another influential journal in the area of econometrics is the Journal of Econometrics, established in 1973. The focus of the journal is on econometrics methodologies as well as the way in which these methodologies can be applied to substantive areas of economics. With these ten journals, you should be well up to date on all the latest happenings in the field of economics.
All academics know how important it is to get your work published. The journal which you publish your work in can have a big effect on how it is perceived and on how many people it reaches, so it's important to make the right decision when submitting your work for publication. You want to make sure that you submit to a journal which has a strong professional reputation for your work to be taken seriously.
Tips for reformatting your manuscript to submit to a new journal
Browse our job listings for more opportunities 1. Look up the formatting guidelines on the journal website Before you begin reformatting, make sure that you know exactly what the requirements of your new target journal are. Don't assume that just because you have formatted for one journal in your field that the requirements will be the same for other journals. Each journal will have its own requirements in terms of fonts, layouts, required appendices, image formatting guidelines, and supporting materials, so make sure that you research this thoroughly before you begin the reformatting process. You can find a full list of formatting guidelines on the website for the journal you are aiming to publish in. 2. Remember to check your tables One part of reformatting that always seems to take forever is formatting your tables of data. Tables are finicky and tend to break when compressed or stretched to fit different paper sizes or margins. Make sure that you check every single one of your tables to see that it is displaying correctly under the new formatting requirements. 3. Use a tool like LaTeX to format more quickly If you are looking for a way to make reformatting easier and you are fed up of using a word processor like Microsoft Word or Open Office Writer, then you can try a specialist academic typesetting program like LaTeX instead. LaTeX is a little more complicated to use than a standard word processor as it requires you to separate out your content and your formatting and to indicate your formatting choices through the use of a markup language. However, once you have a document prepared in LaTex then you can change the formatting of that document very easily. With a few clicks you can change the fonts, margins, columns, emphasis formatting, and more throughout the entire document. Instead of having to go through your entire manuscript and change every time you use italics, for example, you can just change the italics formatting setting and all of the italic text will be changed for you. If you have the time and patience to learn to use LaTeX now, you will save a lot of time on reformatting in the future. 4. Print your colour images before you finalise them Most academics read all of their journals electronically these days. But don't forget that journals are still printed on paper and that there is a group of people who prefer to read in this format. While text will typically not need any tweaking to look presentable in both electronic and paper formats, you need to pay attention to your figures or images to make sure that they look okay when printed. This is especially true if you use colour images, as colours can vary a great deal between printing and electronic display. Once you have reworked your images and you are happy with how they look on screen, do print them out and check how they look on paper. Often you might find that the colours look too washed out or too dark on paper, or that labels and other text are hard to read. Tweak the colour settings of your images until you are happy with them both on screen and on paper. <11an>limit:2;categories:conferences|Professor;disciplines:General Economics (JEL A)</11an> 5. Check your reference format One of the most time-consuming tasks when it comes to reformatting a manuscript is preparing all of the references or the bibliography. There are many different styles of reference that are used by different journals and it takes a lot of time and concentration to make sure that every reference is done with the exact correct punctuation, use of initials or names of the authors, formatting of the journal name, referencing the page numbers, and so on. If you have a shorter reference list, you can make these changes by hand. But if you have a very long reference list, then you may want to consider using a tool like Mendeley. Mendeley lets you keep a list of all of the references you are using for a project, and then can display those references in various different formats like APA or MLA. Once you have uploaded your reference list to the program, this makes reformatting your reference list much quicker. 6. Suggested reviewers Some journals will ask submitting authors to suggest other researchers who could be contacted to review the paper. Not all journals require this, so if you are submitting your paper to a new journal which does require it, then take some time to think of an appropriate person or people. You want to choose someone who you do not work closely with or know personally – so don't suggest someone in your department or someone you frequently collaborate with – but you do want someone who knows the field well. If you have met your suggested reviewer a few times, that's okay, but it shouldn't be someone you're close with. Pick someone whose work in the field you know and respect and who you think would have a clear and fair understanding of the work that you've done. 7. Data sharing Different journals have different policies about sharing data. In addition, your institution might have policies on data sharing that you should be aware of. Wherever possible, sharing your data helps demonstrate your transparency and commitment to high standards of research, as well as contributing to the broader academic community. Look into the journal's data sharing options and discuss with your co-authors and others in your department to find out if you should share your data publicly. 8. Cover letter Just like when you apply for a job, your cover letter for a journal submission should be adjusted to the particular requirements of the journal. Don't use a standard template letter for all of your manuscript submissions, though it is okay to start with a standard template and then make tweaks according to the journal. Try to specify why your work would be of interest to the particular readers of the journal in question – for example, is the journal read mostly by clinicians, or researchers, or educators? Also, if possible try to link your manuscript to a theme of the journal or to other articles which have previously been published in the journal. This helps to support the idea that your work would fit in with the journal's message and would be interesting to its readers. 9. Plagiarism detection Many journals now have some kind of electronic plagiarism detection, where you must upload your manuscript for it to be automatically checked against other work for similarities. Uploading your document and getting the detection software to accept it can take a few attempts and more time than you think, so don't leave this until the very last minute if you're on a strict deadline. 10. Be patient, it will take time When you need to reformat a paper, at first you might think that it will be a quick job. After all, you just need to tweak a few things with the layout, right? Unfortunately, the reality of reformatting is that it always takes more time than you expect. Even though the changes you are making to your manuscript are minor, it still requires time and attention to make sure everything is correct. Set aside a week or two to perform all the reformatting and try to be patient, as it will inevitably take a while to get the manuscript ready for your new journal submission. Looking for a graduate program to continue your studies? Check out our program listings.
As every academic knows, writing a paper for submission to a journal is a long and arduous process. It is common for papers to be rejected from the first journal that you submit to, so you will have to reformat the manuscript and resubmit it to another journal. This process of reformatting requires quite a bit of work, even when the paper is staying essentially the same and the only changes being made are cosmetic. Every journal has its own rules about formatting such as fonts to be used, margins, the type and number of images allowed, and citation format. To help you with this process, here are our tips for reformatting your manuscript to submit to a new journal.
4 Ways Economists Can Market Their Research Projects
If you're looking for an event to attend this year, check out our conference listings. That doesn’t mean you have to act like a sleazy used car salesman. All you really need is a bit of networking; identify some opportunities to make connections and be socially active in your community. Here are just a few ideas to get you started. Hold a seminar at a university Colleges and universities often host seminars, which make for one of the most ideal settings in which to present your research to an engaged audience. Seminar audiences tend to be genuinely interested in and enthusiastic about the subject matter being discussed, which means you’re much more likely to get a positive response—and for your research to gets some great word of mouth promotion. Remember to keep your audience and the ultimate purpose of the seminar in mind when developing your presentation. You’re not necessarily sharing every single piece of data you’ve gathered, only the information and conclusions that are most relevant to the point you’re making. This may go without saying, but you also need to make sure your presentation is interesting to watch and listen to - even if the subject matter is already something your audience wants to hear about. Simply reading from a piece of paper isn’t very engaging, no matter what it is you’re saying. Step things up and supply your audience members with supplementary visual aids and other materials that they can take home, organized inside of professionally printed presentation folders. If you’re unsure where to find the right packaging, Company Folders, Inc. comes strongly recommended for their extensive selection. This makes it easy to find a style that will stand out in a crowd - and make your presentation that much more distinctive. Speak at a conference You can present your research at a conference in much the same way you would a seminar. A conference can be academia-related, but many conferences are tailored more towards industry professionals, such as entrepreneurs or CFOs. This makes conferences particularly useful when the results of your research are relevant to people outside of the academic sphere. Economics-related conferences are also much more social occasions than many academic seminars, which makes them excellent opportunities for networking. After your presentation is over, spend some time mingling and answering questions from your audience members. Be sure to have business cards at the ready so that you can form some new contacts; you may also wish to encourage listeners to join a mailing list or contact you via phone with any additional questions. Create a blog Blogging is a great way to reach people who can’t necessarily meet with you in person. You don’t need to dump your entire body of research into a single post; take a look at your research, break it up into several different points, and write posts that illustrate those points with facts and supporting details. Remember that if you truly want to get involved in the “blogosphere,” you shouldn’t simply post blog posts and hope people come and find them on their own. Try to become active in the online economics community. Comment on other blog posts similar to your own and offer to exchange guest posts with bloggers you respect. On top of attracting more traffic, this shows the community that you’re interested in having a conversation, not simply self-promoting your own research. Obtain coverage in a publication Getting a newspaper, magazine, or other publication to cover your research in a story isn’t something you can just go out and do whenever you want - but there are things you can do to make the research more attractive and accessible to reporters. A good method to start with is creating a press release. This gives members of the media a general sense of your research project and the value it provides. If you’re working with a university, you may have access to a press officer who can help you out with this. Make sure you provide them with any interesting details or anecdotes related to your research, even things that might not make it into an academic paper. Personal details such as your state of mind while you were researching or your impetus for researching the subject in the first place can help give your story a more personal touch. Keep in mind that not every publication is equally reputable. If a reporter contacts you, make sure you do a good amount of research into the types of articles that they publish. It’s also a good idea to ask to see a preview of the piece before it is published, so that you can offer corrections to any factual errors. A research project is only useful when people know about it. In that sense, promoting your research is almost as important as the research itself. That said, if you don’t feel up to the task yourself, consider consulting with a publicist or media expert. If you're currently looking for a PhD, check out our list of open PhD positions.
It’s not uncommon for those in field of economics research to feel a little hesitant about the idea of “marketing” themselves. After all, you’re not really selling a product—you’re sharing valuable knowledge so that other people can benefit from it. But if you want others to take notice of that knowledge in the first place, you’ll need to take some steps towards promoting your work.