How to Find and Avoid Predatory Publishers
Predatory publishers have been known to be a problem in academia for some time, but this new investigation sheds light on just how many of these dubious companies exist and the extent to which they are promoting junk science and extracting money from unsuspecting researchers. Open access publishing – that is, a system whereby authors pay a fee to a journal to make their research publicly available for anyone to read, for free – has become more and more common in the last years. There are advantages to such an open access system for researchers, students and the public. However, there are also potential problems in the publication process which are magnified by open access. While there are many well-respected open access journals (like PLoS One, for example), some open access journals are damaging to authors and to the publishing system and should be avoided. Download the Conference Monkey Directory - 6 Month Conference List What are predatory publishers? Unfortunately, with the rise of open access publishing, there has also been a rise in exploitative low-quality journals which charge large fees to authors to publish their work but do not provide a rigorous review and publication process. Known as predatory publishers, these organisations accept almost any paper that is submitted to them, but do not provide adequate editorial oversight to ensure that the information presented is accurate and peer-reviewed. They also commonly hide the fact that they will be charging fees until after a paper is accepted, at which point the author is confronted with a large cost demand. Therefore, publications in these predatory journals are not respected, and authors can end up paying thousands of Euros for a worthless publication. Given the intense pressure on researchers to publish their work regularly for career advancement, it is important to be able to identify these predatory journals so that they cannot exploit newer early-career researchers or researchers from developing countries. How prevalent are predatory publishers? According to the Guardian investigation, more than 175,000 articles have been published by just five of the largest predatory publishers, including the well-known and poorly-regarded Omics and Waset publishers. Most of these articles have not been peer-reviewed or even properly edited, with no attempts made to authenticate the contents of the articles. In several cases, joke articles or computer-generated nonsense articles were accepted without review or revision. The problem with these non peer-reviewed scam journals is two-fold: firstly, researchers are being tricked out of thousands of dollars in publication fees which they think is securing them a publication in a legitimate journal only to find their publication is essentially worthless. Secondly, the practice threatens to de-legitimise science as a whole, by publishing junk claims in journals which appear on the surface to be on an equal footing with respected peer-reviewed journals. When readers cannot distinguish between high quality science which has been reviewed by experts and found to be accurate and meaningless junk which has not passed any sort of editing process, then faith in scientific publishing as a whole breaks down. How can you identify predatory publishers? You want to avoid predatory publishers at all costs. You definitely don't want to go through all the work of preparing and submitting a manuscript, just to find out that the publishers wants to charge a ridiculous fee to publish your work. There are some ways that you can spot a predatory publisher though: first, ignore any emails that you receive which are inviting you to submit work to a particular journal. Once you have published work in a reputable journal, your email address and research area will be public. Predatory publishers will comb the web for this information and use it to email you, inviting you to submit work to their journal. Often times, you will be invited to submit to journals which have little or nothing to do with your actual research. Also, it is very rare to be invited to submit work to a journal – especially if you are a junior researcher – and it if were to happen, you would receive a personal email from the editor of the journal, not a generic form email. If you receive emails inviting you to submit work to a journal, just delete them and move on. Don't waste your time taking these offers seriously. In order to avoid such publishers, researchers also need to be aware of typical tactics used. Any journals which solicit manuscripts by mass-mailing researchers should be avoided; reputable journals generally do not solicit authors to publish with them. If you receive an email inviting you to submit your work to a journal which you are not familiar with, it is extremely likely that it is from a predatory publisher. Other methods to check the reputability of a journal is to search for it online. Unprofessional websites with spelling and grammar errors are indicative of an untrustworthy journal. Also check the email addresses provided for the editors and board of the journal. These email addresses should be from academic institutions – if the email addresses are from Gmail, Hotmail, Yahoo etc. then the journal is unlikely to be respectable. One can also check the physical address of the journal – in which city and country it is based. A final warning sign of a predatory publisher is an extremely rapid review and publication process. Submitting, reviewing, and revising a paper is a long process that typically takes somewhere between several months up to more than a year. If a journal promises to have your findings published within weeks, it is unlikely that this would be enough time for the paper to be reviewed correctly. The lack of proper peer-review process is the surest sign that a journal is not to be trusted. The Beall List One invaluable tool to avoid untrustworthy journals is the list of predatory open access publishers compiled by Jeffrey Beall, a librarian from the University of Colorado Denver. He identifies predatory publishers based on criteria such as a lack of transparency in publishing operations, an editorial board with an insufficient number of members, and an attempt to hide or obscure the fees which authors are expected to pay until after acceptance. He lists the full findings of his investigations on his website. While there is some debate over whether these criteria are the best way to identify predatory publishers, almost all researchers agree that Beall's list is an excellent resource to start from. When in doubt about a publisher, you can begin by checking whether it appears on Beall's list, and if it is, proceed with extreme caution. When in doubt about the reputation of a journal, it's best to contact other researchers in your field to gauge their knowledge. Don't be too quick to choose a journal for your work; and remember to research publishers thoroughly before committing. That way you can be sure you're not taken in by these disreputable publishers. (Editor's note: Beall's list has since been discontinued. It does, though, still exist in an archived form, and remains a useful resource) Download the Conference Monkey Directory - 6 Month Conference List
A recent investigation by British newspaper The Guardian and several German publishers has highlighted the vast number of “predatory publishers” who are operating in academia and are publishing fake science for profit. These publishers invite researchers to publish their work in a journal and then charge exorbitant fees.
We brought in the experts To answer these questions, and better elucidate the realities of blog writing we thought it best to turn to the experts - eight of them to be exact. As a group, they are among the best-respected economists around, blogging to large and loyal audiences in their respective fields. Each was asked to share their experience of cyberspace, and to pontificate on the perks of publicising one’s personal musings on the web - they had much to say. For other articles on economics, studying and finding jobs... ➲ Download the 2019 Handbook now! A crisis as motivation For all our participants, blogging was an activity that was added to an already tightly packed schedule, begging the immediate question: what was your motivation to begin? In response, a number referenced the 2008 financial crisis and ensuing recession as their starting point. As Antonio Fatas explained, the rupture brought economic matters to the forefront of public consciousness, and prompted people, often with no prior economic interest to query ‘why is this happening?’ and, ‘which policies could we implement to alleviate the situation?’ Fatas believed that a discussion of this kind – public, charged and highly fluid - demanded the ‘transparency and accessibility’ that only blogging could afford - the blogosphere, it could be said, was beckoning. Author/Economist Leigh Caldwell was similarly enticed, seeking a public space to deliberate such questions, approaching them, as is his wont, with a psychological perspective. For him too, blogging was the answer. This desire, to serve and engage with the public, was a rather common motivational theme. John H. Cochrane, for instance, was driven by a growing frustration at the ‘bloody idiots’ behind the poorly researched morning op-eds and inaccurate nightly news stories he saw proliferating. To counteract this - and bring about some personal catharsis - he used blogging ‘to bring economic common sense to policy issues’. John, we thank you for that. A pragmatic approach Responding to external stimuli, however, did not account for all. Miles Kimball’s blogging career, for example, was born, in part, from pragmatism – given his standing, young economists take note. Although like many other bloggers, he wanted his blog to have an impact on public policy, it was also designed as a ‘sounding board’ for new ideas, an arena where they ‘could be sharpened’, and thus a space in which larger scale research could be incubated. He also believed, in an opinion roundly shared, that the instantaneous exchange between peers was imperative for the production of relevant research in a rapidly changing world. Such sentiment was reiterated by Robin Hanson, for whom blogging was, and remains, an excellent means of ‘joining the conversation’, the associate professor lauding its inherently dialectical nature. In particular, he appreciated the newfound ability to ‘make an intellectual contribution in just a few hours’ and get feedback, compared to the weeks or months a research paper demands. American economist Timothy Taylor adopted a similarly practical tact. From its outset, his blog doubled up as a personal archive or library, proving ‘a considerable time saver when pulling together a talk or lecture’. His works are collated and chronologised all in one place – meaning his whole canon is condensed and navigable at the click of a button. Quite the utility! But who should be able to blog? This is all well and good, but let us not forget that these bloggers are seasoned professionals, established names in their respective fields, with years of experience already behind them. Perhaps blogging is just a luxury pastime, an activity to be considered only by those who have already ‘made it’? How appropriate is it really for young economists, students, recent graduates, and the like? Is it worth their time too? Well, we posed this question to the panel and received insightful, and interestingly, rather varied responses. For those still unsure whether blogging really is for them, the below is essential reading. On questioning, a consensus quickly emerged that blogging should be approached with, if not caution, at least some consideration, especially by those inexperienced and perhaps un-established in their field. Epitomising this viewpoint was Diane Coyle – herself a strong blogging advocate - who warned ‘young researchers not to let any [blogging] activity diminish the effort available for the outputs that may help get your career off to a good start’. ‘In many cases what matters [still] might be something else’- whether academic papers published, client contacts recorded, etc. In her eyes, one should always prioritise; keep abreast of all formal commitments, and only then, if left with a spare moment, consider blogging. Econometrician James Hamilton was even more circumspect, imploring young economists not to simply jump on the blogging bandwagon, but rather ‘carefully manage their time according to their own interests and talents’. Blogging, he reaffirmed, just isn’t for everyone. And yet, even in these cautionary words there remained the understanding that for those with organised and well-managed schedules, there is much to be gained, as long as the practice is viewed, as Kimball describes, ‘as a complement’ to existing commitments, rather than a substitute. This mindset assumed the potential benefits of blogging are vast. Among the more restrained endorsers was Taylor who recommended something of a halfway house, suggesting that young economists with a specialised focus participate in a group blog. A collective of this kind could provide the benefits of blogging - the synthesis and distilling of ideas - without its drawbacks - the consumption of time, and the ever-present risk of an online feud. Hanson, was more convinced, assuring that even for those with fledgling portfolios it could be a great source of marketing: ‘people will read your other things because you’ve blogged’. Although such advice is maybe not applicable for bachelor students, it should certainly be contemplated by recent graduates and certainly young professionals. Marketing, research and scope From others, endorsement was less fettered. Asked whether they would recommend blogging to economists at the beginning of their careers, Caldwell and Cochrane both responded - presumably sharing the same thesaurus - with a unanimous: ‘absolutely’. They did, however, diverge in explanation. Caldwell, with a more marketing tilt, placed emphasis on the practice’s ability to raise one’s profile, whilst also acting as a useful barometer of current economic trends. Cochrane, on the other hand, issued something of a rallying cry, proclaiming that blogging was essential to the overall discipline: ‘we should be batting around the basic research ideas more often and in more accessible and timely forms’. It is true; debating the building blocks of research, and as a by-product refining them, helps save time and makes academic sense. In Cochrane’s case the increased circulation of his work, facilitated by his blog, has helped him become a well-known name within public policy circles - certainly no mean feat. Fatas echoed this enthusiasm, appealing to all economists - not just those starting out - to take up blogging, recommending it ‘in particular [to] those writing on topics that are more applied in nature’. He justified this by submitting that all research ‘benefits from the discipline of having to put ideas in a different language than the usual academic paper’, and that dialogue, ‘via the comment section’, can be hugely constructive. Go forth and blog! Well, there you have it; the experts have spoken. Clearly, there is agreement: blogging has become an influential and heuristic tool that, given sufficient time, and when not too great a sacrifice to other commitments, is a worthwhile endeavour. There remain question marks, however, as to how much students, particularly those of bachelor or master levels, should commit to it. While still cutting teeth on the basics, one should think carefully whether it really is a sensible undertaking. Waiting a few years is hardly the end of the world, and trust us, the bandwagon isn’t leaving anytime soon. For those who are ready, who feel the time really is now, we advise you to blog in adherence to the following principle, as distilled from our interviewees’ responses: Blog good; blog niche; and blog dedicated. Over to you. So what are you waiting for, potential blogger extraordinaire? Get blogging. But first, download our latest Handbook by clicking the button below. ➲ Download the 2019 Handbook now!
It is well known that blogging can be a useful, if not essential, tool for expanding networks, creating academic dialogue, and generally fomenting ideas. Alas, as wonderful as this may sound, like always, it is not always quite that easy. It also requires time, which tends to be tight; energy, at times lacking, and dedication. With this in mind, we wanted clarity; in practice, how can blogging benefit one’s work? And, what role can it play in the career development of an aspiring, young economist?
How To Make The Most of Your Conference Trip
If you're looking for a conference to attend in the near future, check out our conference listings on ConferenceMonkey. Preparation for you conference One of the best way that you can make the most of your conference trip is by putting in some preparation before you go. The week for the conference, find some time to check the organiser's website, which should have a list of the keynote speakers, other speakers, and maybe even an advance timetable of presentations. You can look through notes or the program and highlight talks which are of interest to you, and find the names of people in your field who will be attending and who you wish to get in contact with. If you see any names of people who you know and would like to connect with, drop them an email inviting them to get coffee or dinner with you during the conference. This way you'll have some knowledge of which talks you can't miss, which topics are likely to be discussed in question times, and who to look out for while you're there. Finally, don't forget to pack comfortable and practical but smart clothing and shoes. If you need some advice on what to wear to your conference, check out our Insights into what men should wear at an academic conference and what women should wear at an academic conference. On your arrival at the conference Once you arrive, take a few minutes to walk around the conference area, taking note of the different lecture venues and other locations. This way you won't be getting lost while you're in a rush to get to an important talk! Make sure that you get hold of a map of the area, and mark both the conference location and your hotel on it. Also have a look at the transpiration options to and from the conference location, and check out the local area immediately around the conference centre. Finding a cafe nearby with wifi will give you somewhere to escape to for breaks or if you need to send some work emails. It can be a great idea to utilise the conference's social media presence both before, after and during the conference. Check out our Insight of 6 Tips for Using Social Media at a Conference for more information. Asking questions after others' presentations at the conference Attending presentations lets your hear about brand new work, straight from the researchers themselves. You can hear about empirical work that has not yet been published, and discuss theories which are still in development. There will likely be both organised talks and more informal poster presentations, and both of these offer you the opportunity to ask questions of the presenter. If you want clarification of a concept or a methodology, or more details on a specific area that is relevant to you, then don't be shy about asking for this information after a talk or during a poster presentation. Use this chance to really get to know a topic in depth, straight from an expert. Getting feedback on your conference presentation If you're giving a talk or poster presentation yourself, then you can avail yourself of the knowledge of all of the conference attendees. Bring a notebook with you, and after you complete your presentation and discussion, take note of the questions which were asked of you, and any salient points which arose in the discussion. If there was a point you raised which attendees seemed unconvinced by, then you know that you need to strength your argument. Perhaps a questioner will suggest a link to a different area of research which could be relevant to you, or suggest a paper which you did not know about before. In any case, thank people for their feedback and get this information down on paper as soon as you can, so that you don't forget it. If you're giving a conference presentation and need some help with everything from initial preparation to post-presentation networking, check out our long read on A Guide to Conference Presentations. Socialising & networking at a conference The social aspect of a conference is also important; both in terms of networking and in having an enjoyable time for yourself. There will likely be organised social events such as dinners, drinks receptions, or visits to local tourist spots. Do try to make time for these social events, as they offer the opportunity to get to know your fellow conference attendees in a more casual environment. While you're at these events, don't be afraid to strike up conversation with people you don't know, even if they are more senior than you or from a slightly different field – the point of these events is to get to know new people and to hear about their work. If you need some more help networking at a conference, check out our Insight into how best to network when attending a conference.
Attending a conference can be a fun and exciting chance to visit a new place, to connect with peers and senior figures, and to learn about the latest development in your field. But it can also feel overwhelming to have a lot of events packed into a few days. Today we're sharing tips on how to make the most of your conference experience.
If you're currently mulling over whether to do a PhD, check out our PhD listings to find the right course for you. Do you want to go into academia? The main reason that most people start a PhD is so that they can begin a career in academia. However, doing a PhD and working in academia is very different from studying from an undergraduate or master's degree. You will need to be much more self directed and self motivated, and you will be more independent in your work, but it is hard to know if this environment will suit you until you try it. A good frame of reference for PhD work is the project that you perform as part of your master's or the final year of your bachelor's degree. Did you enjoy coming up with a concept and finding a way to test or explore that concept in a thesis? If yes, then you may be suited to a PhD. Be realistic about job prospects Many people growing up today have heard all their life that they have to have a good education to get a good job. And though this may be true, a high level of education is in no way a guarantee that a highly paid job will follow. Some subjects are better than others in terms of job outlook: subjects like hard sciences or computer science often lead to fulfilling jobs even if these positions are not necessarily within academia. But other subjects like the arts and humanities produce many more PhD graduates than there are jobs, leading to extremely stiff competition and many unemployed or underemployed graduates. This doesn't mean that doing a PhD is necessarily a bad idea – many students find doing a PhD to be deeply personally rewarding and the most exciting educational experience of their lives – but it does mean that you shouldn't do a PhD because you think you'll get a better job at the end. In most cases, if you want a particular job then you're better off gaining work experience than studying for an extended postgraduate degree. Where will funding for your PhD come from? One aspect of doing a PhD that is not always considered first but definitely should be is where the funding will come from. Doing a PhD is expensive: from the cost of setting up and running experiments, to expenses incurred travelling to conferences, not to mention the considerable expenses of supporting yourself for at least three years. Some people are so desperate to do a PhD that they will offer to fund themselves, by getting support from a partner or family or by living off their savings while they study. But this is generally a bad idea. Doing a PhD is a full-time job that should be paid as such. Working without funding is demoralising and arguably shows a lack of respect on the part of the institution and the supervisor. If they think that you are good enough to do a PhD, they should pay you at least the minimum you need to get by while you work. The systems for funding PhDs vary from country to country, so in Europe you might be first accepted onto a PhD program at a university and then apply for external funding, while in the US you might apply for a PhD and automatically be granted funding by the university if you are accepted. Another option which is common is for PhD students to receive half funding, which they supplement to full funding by working for their university as a teaching assistant or research assistant. In some situations, working a role during the PhD can be a good way to gain experience – especially if teaching experience is important for your career goals – but remember that teaching duties are a big source of extra stress and can require many additional hours of work on top of the actual hours of classroom teaching. Whichever funding route you take, it is advisable that you have at least three years of full-time funding agreed to in writing before starting a PhD. Don't be afraid to ask explicitly about funding and where it will come from. It is sadly common for people to start a PhD with limited funding, then for that funding to dry up after a year or two so that they have to drop out. It is better to defer your PhD application for a year and to take that time to secure full funding than to jump straight into the PhD without a firm funding plan in place. Is your PhD project right for you? Sometimes people can get caught up in the idea of doing a PhD without really thinking about whether they should study the particular project they have chosen. There are generally two ways to choose a PhD project: either you apply for a specific role as a PhD student in an existing lab or group, in which case your project will be largely assigned to you by your supervisor, or you come up with your own project idea and submit this proposal to a grad school or department. The first path is safer in that it involves a project which has been chosen by people with a great deal of experience of PhDs and the field, so you can be confident that the project is likely realistically achievable and will contribute usefully to the field. The second path allows you to follow your own passions and to investigate your own ideas, but it is riskier because there is a greater chance that your project is too big to complete in a reasonable time frame, that your experiment might not work, or that the project might not be perceived as useful by others in the field. Take time to consider not only if you want to do a PhD in general, but also whether you want to do this specific PhD. Get as much feedback as you can from supervisors, friends doing PhDs, former teachers, mentors, and others about your project ideas and whether they would make an achievable and worthwhile project. And be realistic about your interests and strengths – if you've never liked statistics then doing a project heavily based on data analysis is unlikely to make you happy. Ideally your project should be a subject that inspires you and excites you, and to which you feel like you could make a valuable contribution with your ideas. Are the institution, department, and supervisors right for you? Another big factor in how your PhD will be is the environment in which you will work. Doing a PhD can be isolating and you need people around you who will support and help you out. Some academic groups are small and insular, others are large and diverse, but in either case you need to be among people who understand your work and will give you the time that you need. It's hard to know in advance if your supervisor will be difficult, but you can get a good idea by talking to other PhD students who have them as a supervisor and listening to their experiences. Many PhD students will be happy to share this information with you if you are thinking about applying to the same supervisor. Finally, don't feel as if your only opportunity to do a PhD is the program that you apply to first. You can apply to several programs at the same time and see which interview process excites you the most. Or you can wait until you find the right supervisor or institution which will make your experience so much better.
Here's a big question that's on the mind of many master's and undergraduate students: should I do a PhD? The idea of dedicating three years or more of your life to original research is both exciting and terrifying, and the experience can be either exhilarating or harrowing, or usually a mix of both. Today we'll take a look at some of the issues to consider when you are thinking about applying for a PhD program.
Effective Ways Economists Can Build a Personal Brand
To find a range of other insights like this, click the button below to download the latest INOMICS handbook. ➲ Download the Handbook now! Use social media You probably already have an account on Twitter, Facebook, and so on. So take some time to review your profiles, set your privacy settings in a way you’re comfortable with, and put some information about yourself and your research on each platform. Also, don’t forget to make use of academic social networks like Google Scholar and academia.edu to network with other researchers. Set up a website You need some kind of web presence which links to all of your social media sites and has information about you and your publications. If you’re not very technical, don’t worry, you can still set up a simple website. It needn’t be anything fancy – just a set of links in a plain colour scheme is fine. If you like to write regularly, you can also set up a blog as a great way to connect directly with your audience. Be consistent across platforms Part of branding is keeping a consistent picture of yourself even on different platforms. You can have some variation – for example, Twitter is a much more casual environment than LinkedIn – but try to keep a similar message on all sites. Identify your key research interests and the topics which you discuss the most, and focus on these in all of your profiles. Give talks, including outside of academia Branding isn’t just something that you do online. You can also build people’s awareness of you and your work by giving talks or lectures. If you’re just starting out in your career, try to accept every invitation you receive to give a talk and work on your public speaking skills to give the best impression. Remember that talking to the public is important too, so if you are invited to speak at a public event then adjust the content of your talk accordingly and be welcoming to members of the public. Attend conferences and network there The best way to build up your brand is to build up your professional network. The more people you know in your field, the more resources you can call on for advice or assistance and the more likely people are to recommend you for posts or talks. Attending conferences is a very effective way to meet many of the key players in your field. Attend professional events like lectures and workshops In addition to conferences, don’t underestimate the importance of attending other events like lectures and workshops. Attending these events and contributing to the discussion – either during formal discussion time Attend professional events like lectures and workshops In addition to conferences, don’t underestimate the importance of attending other events like lectures and workshops. Attending these events and contributing to the discussion – either during formal discussion time or informally after the event – is helpful to let people in your field know about you and your views. Attend networking events Another way to build your network, especially early in your career, is to attend networking events. These events can give you some practice at networking in a low-pressure environment and help you to build up your skills as well as being a good source to meet new people. Write opinion pieces, book chapters, and guest posts There are lots of opportunities for you to write about your research, from contributing chapters to academic books to writing opinion pieces for a newspaper. You can also contribute to blogs by writing a guest post or a series. This will help to build your profile as well as giving you practice at writing for different audiences. Start a podcast or guest on one A recently popular format is podcasts, where a topic is presented in audio format. Often, podcasts are hosted by enthusiastic amateurs who interview professionals about their particular topics. Guesting on a podcast, or even starting your own, can be a great way to expose yourself to a broader audience. Be careful about the quality and suitability of content you put online This might sound obvious, but part of branding is not just putting good content online, but also avoiding putting negative content there too. Stay away from publicly sharing content that is overly personal or not professional, and keep this content to private groups instead. If you are unsure whether something is appropriate to post publicly, it’s best to err on the side of caution. To read more of our insights into economics, finance and business, download our Handbook for free! ➲ Download the Handbook now! All Images: Copyright INOMICS (Photographer: Christy Ioannidou)
Building a brand used to be just for companies and universities – but now a personal brand is something that every student and academic needs to work on. While many academics are hesitant to brand themselves too actively, you should remember that not working on your brand is in itself a kind of branding, and not a positive one. So you’re going to have to spend some time building your personal profile as a researcher – but there are some tips that can help to make this process smoother and more efficient. Here are effective ways economists can build a personal brand.
How To Prepare For Your Post-Doc Interview
1. Prepare an outline of your current research project One of the biggest questions you will need to answer in your interview is to explain your current research project, or the project you are planning on starting very soon. First off, you should be able to explain the essential principals of your project in just a few sentences, covering the research question you want to answer, the methodology you will use, and what results might mean. Then you should be able to talk about these topics more in depth, and also to explain how your prior experience makes you well suited to performing the project. Talk about what input you are hoping to get on the project from other group members and how the results will contribute to the field. 2. Gather references from your PhD supervisor and others As part of the interview process, you will need to share references or letters of recommendation from your PhD supervisor. If you have a mentor in the field or you have a good relationship with a senior professor, you can also ask them to provide you with a recommendation letter. Typically, you will either be asked to provide letters of recommendation in advance of the interview, or you will be asked for the contact details for your references and your interviewers will contact them and ask for information about you. You should reach out to your references and ask them if they will talk on your behalf, and make sure to bring their contact details with you to the interview. 3. Research the university, department, and PIs you are interviewing with It's important for any interview that you know a bit about the institution and people that you will be interviewed by. You should know the names of your interviewers in advance, or at the very least you should know one of the interviewers. Use this information to learn about the work being done by the interviewers, and also learn about the research interests of the department and the university. If you can explain why you want to do a postdoc with this particular group or department as opposed to other equally prestigious departments, then you can demonstrate that you are a good fit for the postdoc position and that your work will complement the work done by others in the group. 4. Prepare ideas for future projects Not only should you be able to discuss your current and former work, you should have ideas about future projects too. It is very likely that you will be asked about what projects you would like to perform as part of your postdoc. The ideas you have don't have to be complete to the standard of a research proposal, but you should have some concept of what methods you would use and what results you might expect when researching a particular question. If you can find someone in the hiring department who works on a related topic and with whom you could potentially collaborate, definitely mention this too. 5. Bring along teaching evaluations if you have them This tip may differ between the US and Europe. In Europe, there is less emphasis placed on the importance of teaching so you may be applying for a postdoc position with no teaching experience at all. In the US, on the other hand, teaching is a major part of academic life and most postdocs would be expected to have at least some teaching experience. In either case, it is a good idea to put together documentation for the teaching that you have done. Find your lesson plans or semester curricula, and refresh your memory on what topics you taught and any special methods that you used for teaching – such as getting the students to do group work, using audio-visual clips, or what projects you got your students to complete. And most importantly, bring along any student evaluations that you received. Providing evidence that your students enjoyed your classes is always a good boost in a postdoc interview. For more career opportunities and job listings in business, finance, and economics, take a look at our jobs section. It has all that you will need to take that next big step!
When you are applying for a postdoc position, as part of the process you'll need to have an interview with the PI of the group you are applying to work with and others in the department. Here are some steps you should take to prepare for this interview.
The INOMICS Questionnaire: Fratzscher v Cochrane
What unfolded proved illuminating, often personal, and frequently amusing, the dialogue shedding light on the inner workings of the enigma that is the ‘economist’s mind’. Ranging from the trivial to the truly insightful, the following is an essential read for anyone even vaguely interested in the field of economics. Put the kettle on, pull up your favourite chair and enjoy. To find a range of other economics insights, click the button below to download the latest INOMICS handbook. ➲ Download the Handbook now! Marcel Fratzscher: What is your favourite place on earth? John H. Cochrane: I love lots of places. But if I have to choose one, Florence, which combines beauty, history, and for me a bit of nostalgia. What alternative occupation would you want to have if you had a free choice? I have a free choice! Perhaps you mean the chance to make alternative human capital investments? Given my talents, and my many limitations - there are lots of things I’m no good at, and I know to avoid tasks that require them - I have to say I’ve pretty much maximized. I started in aeronautical engineering and then physics, and designing gliders or being a physicist still has a romantic appeal. But I know it wouldn’t have turned out as well as this has. What is the virtue you appreciate the most? Intellectual honesty and ethics. And these are the virtues that when absent in our profession bug me the most. Your all-time favourite figure in economics? Too many to name. Bob Lucas, Gene Fama, Lars Hansen have been huge influences and I admire them a lot. Your # 1 economics blog? Grumpy Economist! Seriously, I read Marginal Revolution most, and follow its links. Your ideal student? Smart, self-directed, thinks big but achievable, takes what is useful in my feedback and ignores the rest. What should be done to address a gender bias in research in economics? That is a big and important question that I can’t fully answer in a little questionnaire. I don’t think the question as stated is correct - I don’t perceive “a gender bias in research in economics,” whatever that might mean. There is a huge problem that women, especially married women with children, fall out of the profession at such a rate that there are almost none of them in the ranks of tenured and chaired professors at major universities. A lot of that is cultural. I’m brewing a long grumpy post on it, but it’s a delicate issue so I’m taking my time. What is the most misguided research agenda in economics? Part of my “ethics” virtue above is that one should not be snarky about alternative approaches, and one should not criticize research agendas one does not know well. That said, I’ve had my differences with Keynesian and new-Keynesian research, and some behavioural research. Old Keynesian seems to want to keep alive a quasi-religion that makes very little actual economic logic, and failed utterly in contact with the data, at least to the extent that a quasi-religion can ever fail. New-Keynesian is an admirable program, but I think it went wrong with the “active” monetary policy idea instead of fiscal theory. If you look hard at “active” money in those models it just seems looney. That’s expost hindsight - the people involved are tremendous researchers and figuring out what equations really mean is as hard in economics as in physics. But it’s time to move on. The idea “let’s put psychology in economics” is a good one, but a lot of the research seems stuck at ex-post storytelling, an interpretive rather than scientific approach, very small effects, and endless claims that someday this is going to really pay off. What is the most promising current research field or issue in economics? Mine of course! Fiscal theory of the price level and risk aversion at the source of business cycles and finance. Seriously, a rule I tell grad students: don’t listen to old guys like me for direction. In the past, great new research fields have almost come despite our contrary advice. Intellectual arbitrage has also paid off well in the past, and clearly, the young stars are using new computational and internet data power to make a lot of progress. Where does economic research have the most influence on policy-making? In my view, in the broad cloud of ideas, not in day-to-day analysis. In a tax bill, say, there will be piles of competing studies, to say this or that tax makes this or that person $402.57 better or worse off. I think this has very little effect. I think economics is most effective in the very important broader circle of ideas. Do people - voters, op-ed writers, newspaper reporters, etc. - understand that when a Chinese company sells us something that’s good for us? Do they understand that marginal taxes distort behaviour? When they see houses that are too expensive do they understand that “we need to let people build more houses” not “we need to pass a lot of taxes to subsidize housing” Do they understand that rent controls will kill the housing market? If people at large understand these things, policy will follow. If they don’t, no amount of enlightened politicians will ever get us anywhere. Politicians are largely smart and well-intentioned people. But they can’t go where their voters do not want them to go. On what issues should policy listen more to economists? I would say all issues! Except that economists (other than me!) seem to offer pretty lousy, and often politically motivated advice. Sorry, we’re not that great. Being good at research does not mean one is good at crafting policy solutions. Being smart is different than being wise. Policy needs basic economics, and clear wisdom about just how little we actually know. Researchers tend to suffer a lot of overconfidence bias, and are all excited about their latest idea and ready to unleash it on the poor unwitting taxpayer. We might be best in the role of devil’s advocate - here is why your latest idea will fall apart. What is your career advice to a young economics researcher? Take yourself and your work seriously. Don’t play games. It’s not about getting published or getting this or that job or promotion or impressing people with technique. It’s about writing things that people care about, in the simplest most transparent and honest way. Treat others as you wish to be treated. To read more of our insights into economics, download our Handbook for free! ➲ Download the Handbook now Header Image Credits: Marcel Fratzscher / DIW and John H. Cochrane (kindly provided)
Esteemed economist, blogger and friend of INOMICS, John H. Cochrane, kindly took time out of his busy schedule to take part in our Handbook questionnaire. However, this was no regular questionnaire, far from it. At its helm, assuming the role of quizmaster was none other than Mr Marcel Fratzscher: president of the DIW Berlin, and one of Germany’s leading voices in macroeconomics. Such is the reputation of these heavyweights we dubbed the encounter ‘Fratzscher v Cochrane’ – our personal nod to the pair’s professional standing.
What to Do When Your Paper Gets Rejected From a Journal
Consider the feedback When your paper gets rejected, you'll usually receive feedback on why. Typically, you will either get a rejection from an editor, explaining why the paper is not appropriate for the journal that you submitted to. Or, your paper will be sent to one or more peer reviewers who will read over your paper and offer comments to the editor. The reviewers can recommend that an editor rejects the paper if they do not feel that it is up to standard or if it needs more work. In either case, you'll likely get feedback from the editor or from reviewers on exactly why they are rejecting the paper. Some of the most common reasons for a paper to be rejected are that the topic is not suited to the journal that you have submitted to, that the paper does not add to the existing body of knowledge in your field, or that your methods or data analysis techniques are not appropriate to give reliable information about the topic at hand. Whatever the reasons, make sure that you read the feedback in depth and reflect on it. Even if you don't agree with the feedback, it's still important to understand why someone else might have thought that. Once you are clear on what the issue with your paper is, you can start working on making it better. <11an>limit:2;categories:Professor;disciplines:General Economics (JEL A)</11an> See if you can submit again Some journals will allow you to submit your paper again after it has been rejected, as long as you have made substantive changes to it. Other journals discourage resubmission after rejection, on the basis that the editor or reviewers have already seen enough of your work to judge whether it will be an appropriate paper for the journal in questions. Check on the website of the journal or look in the letter you received from the editor to see whether resubmission is possible. If it is possible to resubmit to the same journal, you need only make corrections to the issues raised in your feedback, then you can try submitting again. Or look for a new journal to submit to Alternatively, you can find a new journal to submit your paper to. If you started off submitting to a very high ranked and prominent journal, then you may want to aim for a mid-tier journal for your second submission. Some researchers like to submit to journals with as high an impact factor as possible, and if they get rejected by the top journal then to move on to the second top journal, and so on. This maximises the impact factor that you will be able to achieve with your paper, however, this process takes an extremely long time and can be demoralising. This is why aiming slightly lower for a mid-tier journal can be preferable, as your paper is more likely to be accepted and the submission process won't drag on for months or even years. Leave time for reformatting Don't forget that submitting a paper to a new journal is a time-intensive process. Even if your paper was finalised and submitted to another journal when you send it to a new journal you'll still have lots of work to do. The new journal will probably have new formatting requirements and possibly you'll need to reformat your references too. Plus, there may be a different total word count that you need to adhere to. You might even consider changing the focus of the paper slightly to better match the interests of the new journal you are submitting to. All of this takes a lot of time and effort, so be prepared to take some weeks or months in between being rejected from one journal and submitting to another. Don't give up It's dispiriting to have a paper rejected from a journal, especially when it's a paper that you've worked hard on and are proud of. But remember that a rejection doesn't mean that the paper was bad, only that it wasn't suited to this journal at this time. Plenty of factors affect whether a paper will be accepted in addition to the quality of the paper, such as how well it fits the journal's topic, whether the editor and reviewers you are assigned share your research interests and values, and pure old luck. Keep trying and your paper will find a home soon. Also looking for a job in the world of economics, business or finance? Click here for a comprehensive list of what is currently on offer!
Once you've submitted your paper to a journal, you have to wait to hear a response. Sometimes, your paper will be rejected. If that happens, what should you do next?
How to Write a Cover Letter For Your Journal Submission
Use standard business language and formatting The tone and layout of your cover letter should be in standard business style. So that means that the language you use should be fairly formal, and you should address the editor by their full name and title. Do not use contractions or slang in your cover letter, and do not share personal information about yourself. Instead, focus on presenting the paper as you might present it to a conference. It aids in readability to use short paragraphs, so make sure that each paragraph is only a few sentences long. Use the standard business letter layout of the editor's name and address at the top, followed by your name and address, and sign the bottom of the letter. Tailor the cover letter to the journal Remember that just like how you need to tailor your cover letter to the company when you apply for a job, you also need to tailor your cover letter to the journal when you submit a paper. The cover letter should describe specifically how your paper will add to not only the knowledge of the field, but also to the knowledge of the journal's specific audience. For example, if you are applying to a journal with a clinical focus or one which is read by many clinicians, then you should include information in your cover letter about how your paper could affect clinical practice. You may also choose to reference other important papers in your topic which have been published in the journal you are applying to. If an upcoming issue of the journal that you are submitting to has a theme that your paper fits into, definitely mention this as this will increase the chances of your paper being accepted. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:General Economics (JEL A)</11an> Describe your research in non-expert terms Remember that the editor who will read your cover letter will likely have expertise in your general field, but may not have a lot of knowledge of your specific subtopic. For this reason, you should avoid using overly technical language or jargon in your cover letter, as this may not be comprehensible to the editor. Instead, you should describe your research as if you were explaining it to an intelligent non-expert. You don't need to explain the basic fundamentals of your field, but do be prepared to give brief background information on your topic and why your paper, in particular, will add to the body of knowledge in the field. Talk about the impact of your research As well as describing who you are, the background to your research, your methodology, and your results, it's vital that your cover letter addresses the potential impact of your research on either the academic community or the broader public. It's not enough just to explain what you did and why – you also need to explain why this matters and why it will be of relevance to the journal's audience. Try to stay away from generic phrases like “This research will further knowledge in [your field]” and to instead use more specific phrases like “Our findings of [x] will be relevant to [this group] and the approach taken to [this subject]”. If you can be even more specific, then that's better – something like “With [event x] happening soon, there is a pressing need for research into [your topic] in order to [achieve a specific goal]”. A good cover letter should give information on yourself and your co-authors, as well as information on your topic and your paper, and then convey why this work is important to the journal's audience. Looking for a job in the world of economics, business or finance? Click here for a comprehensive list of what is currently on offer!
When you submit your paper to a journal, as well as the paper itself you will need to include a cover letter. This cover letter is addressed to the editor of the journal and acts as a guide to the contents of your paper. In many ways, the cover letter can be as important as the paper itself in terms of getting accepted to a journal. So you should take your time with your cover letter and make it as good as possible. Here are tips on polishing your cover letter for a journal submission.
Top Career Paths: Public Economics and Economic Policy
Economist for a governmental advisory organisation As part of a governmental advisory body, you can use your knowledge of economic policy to help the state in its economic planning and execution. Government projects typically involve working in large, interdisciplinary teams, and are often long-term, lasting years or more. For this reason, this kind of work is suited to people who are patient and able to grapple with complexity. If you derive satisfaction from getting things done, then this might be frustrating for you because of the long timescales involved. You'll also need solid communication skills to work alongside the other members of your team, whose expertise may be in a different area of economics or in another discipline altogether. Policy advisor to a state representative Similar to working for an advisory body, representatives such as members of parliament also need advising on economic policies. In Britain, for example, MPs are advised by the Civil Service. These jobs are hard to get and require you to work your way up through the ranks, but they have excellent stability and good benefits, so they are suited to someone who is looking for a long-term career and doesn't want to change jobs every few years. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Public Economics & Economic Policy (JEL H)|General Economics (JEL A)</11an> Consultant Outside of the civil service, plenty of state representatives will need advice on economic policy too. You could work as a consultant, consulting for decision makers such as city counsellors. This kind of work can be very rewarding as, unlike national policy, local policies can be put into place more quickly, and you can see the direct outcome of your work on a community. This kind of work requires the ability to explain complex economic systems and possible policy outcomes in a way which makes sense to non-economists. Work for a think tank e.g. Economic Policy Institute Think tanks promote approaches or advocate for policies, including in the area of economics. The Economic Policy Institute, for example, raises awareness about the needs of low-income workers in the US and how they are affected by economic policies. This work requires a thorough knowledge of economics, but also a commitment to the mission. For people who have strongly held moral principles about economic policy and care about actively working to promote those principles, working in a think tank is ideal. However, this type of work is often not well paid and the hours can be long, so you should be prepared for that. But if you are an activist by nature, then combining your passion with your economics knowledge can make you an excellent candidate for working in a think tank. International organisations e.g. UN or The World Bank Another option is working for a large international organisation which will have some interest in economic policy, such as the UN or the World Bank. This work will, like government work, often be long-term and slow in pace, and require you to work in an interdisciplinary team. It is suited to someone who is culturally sensitive and aware of cultural differences around the world. It can be good for those who like to travel to new places, as the work may include field trips or relocations to places around the world. This can be difficult for people who like to be settled or those who have a family but can be good for those who enjoy travelling to new places. It can also help to speak several languages for this kind of work. For more careers advice for economists, as well as postings about jobs opportunities, study advice, and lots more, see our website.
If you're doing a degree in economics with a specialisation in public economics or economic policy, you might be thinking about what career you would eventually like to pursue. Here below are some of the top careers paths for graduates in this area. For a comprehensive list of available jobs check our jobs section.
Public Economics & Economic Policy (JEL H)
Economic Development, Innovation and Growth (JEL O)
Top Career Paths: Labour and Demographic Economics
Working for a labour union With your knowledge about labour issues, as an economist, you can be a great boon to a labour union. You might work for a union directly as a researcher, or you might work for a company which supports unions by providing them with consultants or information. As more and more people go into work which is outside the traditional labour structure – think of all the people who work part-time or for the gig economy of Uber, Airbnb, and so on – labour rights are as important as ever. If you feel strongly that you would like to use your education to do go in the world and to help secure better pay and conditions for workers, then working with a union is one of the best ways to do this. Naturally, working for a union has some downsides. It is a highly political environment, and labour rights are the sort of issue on which everyone has an opinion which is often held very strongly. Some companies and even some governments are strongly anti-union and may use intimidation, threats, or even force against union members. You'll have to be ready for lots of politics and debates, and decision-making which can be very slow. You could look for work with a union such as the National Union of Teachers (https://www.teachers.org.uk/), the Teamsters (https://teamster.org/), or the American Nurses Association (http://www.nursingworld.org/). Working in public health A field to consider if your background is in demographic economics is public health. Public health initiatives, such as promoting healthy eating or discouraging people from smoking, require a large amount of research and support to bring into practice. If you have experience working with large datasets and an understanding of how different demographics affect people's behaviour and how to reach them, then you could try working in public health. In a public health role, you would likely be working for the government, which has the advantage of excellent job stability and good benefits. If you are looking for a long-term, safe career option then this is a good choice. You can look for public health jobs with organisations such as the British National Health Service (http://www.nhs.uk) or the US National Institute of Mental Health (https://www.nimh.nih.gov). <11an>limit:2;categories:jobs|courses|conferences;disciplines:Labor and Demographic Economics (JEL J)</11an> Doing academic research or teaching Another option to consider is staying in academia. If you enjoy the university atmosphere and took a great deal of pleasure from completing your research projects during your studies, then you could enjoy a career as a researcher or university lecturer. It's worth mentioning that the pay for these jobs tends to be merely okay, and that the hours can be long. A particular concern is that jobs in academia are often not reliable or long-term, so you might find yourself job hunting regularly. But if you can deal with these issues, then working in research and/or teaching is one of the most intellectually rewarding careers you can have. Teaching jobs at universities are suited to people who are capable of communicating clearly with students who are still learning, and to those who have the good organisational skills which are required for managing timetables, assessments, revision notes, and all the other factors which help to support students in their learning. You will need to be patient and understanding, and willing to work with students who may be unsure or uninterested at times. For all this, teaching work can be extremely rewarding as you get to shape and influence how the next generation of economists will think about the field. Research jobs might be in academia or in industry, and will typically involve a lot of number crunching and data analysis. If you excelled at statistics and at writing reports, then working in research could be a natural fit for you. You'll have to be able to convey your results to a non-academic audience, but if you can do that then research a very interesting career. You could try to get a job at a university such as the London School of Economics (http://www.lse.ac.uk/) or the Florida State University (https://www.fsu.edu/). You could look for a research job with an organisation such as the National Bureau of Economic Research (http://www.nber.org). For more career advice, including top career path articles for other specialisations, have a look at our website.
Are you a labour or demographic economist wondering about the career options which are open to you? Then you should consider these jobs.
How to Combine Attending a Conference with Travel
Conferences are held all over the world, but most often in large cities with good transport links that are well-known destinations. This makes going to a conference a fun way to travel! Conferences frequently take place in desirable locations which gives you a great excuse to get in some tourist activities or explore the local area while you're networking. Here are some tips on how to combine attending a conference with travelling. Add a holiday in the area before or after the conference<o:p></o:p> If you're going to be travelling a long way to a conference – especially if you're having your travel costs covered by your institution – then you might as well take full advantage of the situation and spend some holiday time in the area while you're there. You can arrive at the conference location a few days or a week early and spend your time vacationing before the conference. Or better yet, stay for a while after the conference so you have time to relax and unwind and you're aren't stressing out about the upcoming work you'll have to do. If you're getting your conference trip funded through work, then usually universities or research institutions are fine with you extending your stay for a few days as long as the flights aren't more expensive and you pay for the extra days in the hotel. <o:p></o:p><11an>limit:3;categories:Conferences;disciplines:Economics</11an><o:p></o:p> Meet up with friends or family<o:p></o:p> While you're away, if you know anyone who lives nearby to the conference location then this is a great chance to see them. If you're taking a long trip – for example, going from Europe to the US for a conference – then you have the perfect chance to visit people you know while you're in the US. You can arrange to meet up with friends or family in the evening after the conference, so you can get dinner together or they can show you around. Just remember that sometimes the social events of a conference which are held in a more informal setting in the evening can be the best networking opportunities, so if you go out with friends instead of going to the conference events you might miss out on that. One compromise is to see if your guests can join you on some of the conference social events, such as trips to tourist attractions. Occasionally you'll see conference attendees bringing their spouses or friends to conference dinners or parties, but this differs by conference so ask around to see if this would be appropriate before inviting anyone else to a conference event.<o:p></o:p> How to pack for a conference and travelling<o:p></o:p> When it comes to getting ready to travel, pack carefully. You'll likely only be bringing one suitcase with you, and often only a smaller hand baggage case, so you need to think about what you pack if you're going to combine a conference trip with a holiday. You can try to take a large case with two sets of clothes in it: one of business wear for the conference and one of holiday clothes for afterwards, but lugging a huge case around an unfamiliar city is a pain. An alternative is to try to find items which strike a middle group, like a tailored shirt which can be dressed up with smart trousers or down with a pair of jeans. Then you can use the same clothes for both halves of your trip and you don't need to pack so much. Just be aware that there is a line here: flip-flops and sundresses are rarely appropriate conference wear, and no one wants to be stuck wearing a suit on their holiday!<o:p></o:p>
One of the most fun parts about attending an academic conference – as well as all of the important research you'll hear about, of course – is having the opportunity to visit a new place.
Top Career Paths: Industrial Organisation
Personnel Analyst Personnel analyst is a role within Human Resources which seeks to improve the placement and management of employees through tasks such as setting compensation rates, updating company policies and rules, enforcing equal opportunity employment laws, and mediating the relationship between employees and management. This role involves both administrative elements, which require a high level of organisation and the ability to prioritise and manage tasks, and personnel elements, which require strong interpersonal skills including empathy and active listening. With a background in industrial organisation, you'll have both qualitative and quantitative skills which can be beneficial to a personnel analyst role, such as writing reports, creating graphs of data, and presenting these reports to other members of HR and management. Organisational Consultant If you are more of an abstract thinker than a highly organised administrator, then you might enjoy working as an organisational consultant. This role involves going to work with a company for a short or medium term, and advising them on their organisational and personnel issues. This might include things like restructuring the compensation or benefits packages, changing the way that recruitment is done, or changing the organisational hierarchy to give employees as much support as possible. Working as a consultant can be very rewarding if you enjoy fresh challenges and you like to find a new problem to solve regularly. However, some people will find this work isolating as you will not be permanently based in any location and you have to get to know new people every time you move to a new organisation. If you're outgoing and a problem solver, then your knowledge of data analysis and psychology from your study of industrial organisation can make you an excellent organisational consultant. <11an>limit:2;categories:jobs|courses|Professor|conferences;disciplines:Industrial Organization (JEL L)</11an> Training and professional development A different role within Human Resources to consider is working in training or professional development. Companies are recognising more and more the importance of on-going training for their staff, both in order to retain those staff and to make them more effective at their jobs. The details of what this training involves will vary by field – it might be teaching people how to use a new piece of software, or it could be training them on giving more effective oral presentations. With a background in industrial organisation, you could work either as a trainer yourself, or work in the management and administration of such training. This kind of work is suited to someone who is patient and who enjoys helping others to learn. Training sessions are often short, typically lasting just an afternoon, or up to a few days at best. So training needs to be focused and to the point, and it helps if you can accurately convey the important upshot of your knowledge to your audience. Research Consultant If you prefer to work in a more data-heavy role then you could consider a career as a research consultant. Companies and other organisations perform research into how to make employees more productive and more satisfied with their jobs and often employ research consultants to help with this. Such a role will involve designing research projects, managing the execution of the project, analysing the data, and presenting the findings to management. This requires exceptionally strong quantitative data skills, so it is suited to someone who has experience with statistics and data analysis as part of their study project or their previous research career. Like working as an organisational consultant, research consultancy can be isolating if you are more used to having a long-term stable working environment, however, it also offers endless new intellectual challenges and the chance to work directly with data. Consultancy tends to be well paid, and this is especially true of consultant roles which require a high level of quantitative data analysis skills. For more career advice, including top career path articles for other specialisations, have a look at our website. Header Image Credit: Jessica Lewis @thepaintedsquare via Pexels (free for use under the Pexels license)
If you are working on a degree in the field of industrial organisation, then you might be wondering what career paths are open to you in the future. Here are some of the top career options:
Work for the government One of the biggest employers of health economists is the government. Especially in countries which have centralised healthcare, like the UK or Portugal, a great deal of planning and administration is required to operate a healthcare system. Issues like finding the balance between making procedures widely available and cost-effective require careful management and an economics-based outlook. Other types of work done by health economists employed by the government include researching policies in the area of occupational health or health and safety or the assessment of applications for medical benefits or other support programs. Work for an international agency Another possibility for health economists is to work for an international agency such as the World Health Organization, the World Bank, or UNICEF. These agencies both research and manage healthcare programs in the developing world and in other under-served communities. This can involve assessing the healthcare needs of a community, proposing systemic changes to improve the healthcare experience, or training and supporting healthcare providers. It could also involve working with the pharmaceutical industry in order to provide the drugs and treatments that are required in an economically feasible and scalable manner. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Health, Education, and Welfare (JEL I)</11an> Work in consultancy There are many more organisations besides the government and various international agencies which require insights into healthcare. You could find work as a consultant in the healthcare field, for example in advising a medium size company on how they should institute and manage their health insurance benefits for employees. Consultancy work can be highly demanding, as you are dropped into a new environment and must not only get to know an organisation quickly but also suggest ways that their health care issues can be improved. If you are a problem solver and you are confident enough to work independently, then consultancy can be both challenging and financially rewarding. However, if you prefer a more sedate pace of work and you value the opportunity to get to know and bond with your co-workers, then consulting may not be for you. Work in academia There is also the opportunity to work in academia. If you have enjoyed your experience in university so far, and have a particular passion for research, then this setting could suit you. In order for all healthcare workers to know what the best policies are and what the standards should be, research needs to be performed by an impartial group, which is where universities and research institutions come in. For those who have a strong grasp of abstract concepts and a broad knowledge of methodologies used within the field, then academia offers the chance to explore the areas of research which are of most interest to you and to participate in many intellectually stimulating discussions. However, it can be hard for young researchers to break into academia, as there are a limited number of positions available in a research context and competition is intense. There can also be a lack of job security as many young researchers are employed on only short-term contracts of six months to a few years, which can be stressful. We hope that this helped to inspire you to think about your future career and to inform you about some of the options which are open to you. If you would like to see other top career paths articles for other specialisations within economics, or if you want to see more career advice, job listings, and study advice, then visit our website.
Are you studying health economics, or thinking about studying it at university? If so, you might want to know what career options you could pursue your health economics degree. Recently we've been sharing a series of articles on top career paths for various specialisations within economics, and today we're looking at health. Read on for more information about where you could work with a degree in health economics.
Government legal service An obvious job path for someone with a background in economic law is working for a government legal service. Lawyers in the legal service work purely for the government, supporting officials in the creation, interpretation, and enforcement of laws and policies. This kind of work can be immensely rewarding as it makes a real practical difference to the operation of the government and hence to the lives of regular people. Like most government jobs, working in the legal service is not exceptionally well paid. However, the plus side of such a job is its long-term stability, with the potential to work your entire career in the civil service. Benefits such as vacation days and sick pay are generally good too. One thing to remember is that legal service work requires you to advise and work on policies that you may not personally agree with, so this kind of work is suited to someone who can be impartial and work with those of different political beliefs from themselves. Legal advisor to NGO or company Rather than working for the government, you could also work as a legal advisor for an NGO or a private company. In order to succeed in this kind of role, you need to be able to explain complex legal issues to non-experts, so it's suited to someone with excellent communication skills who doesn't use too much legalese. If you have strong convictions about social or moral issues, you might enjoy working for an NGO. However, remember that work for an NGO tends to involve long hours and not much in the way of benefits. On the other hand, if you like a fast-paced atmosphere, then working in a large company can be exciting and invigorating, and is usually well paid for legal services. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Law and Economics (JEL K)</11an> Compliance A specific role within a company that is suited to someone with a background in economic law is compliance. This refers to the job of staying abreast of the latest laws and requirements for companies and making sure that your organisation is following them. This can involve factors like the environment impact of production, risk management for insurance, or the rights and conditions of workers. This work requires careful attention to detail and a patient personality, as there are many details to consider and progress can be slow and incremental. But a good compliance officer can be a major boon to a company, and there are many roles for this kind of work in large international corporations especially. Mergers & Acquisitions consultant Another opportunity for those with legal and economic experience is Mergers & Acquisitions. Working either for a specifically M&A consultancy or for a large corporation, consultants assist in the strategic planning and execution of the joining or taking over of one company by another. This work requires a strategic approach and the ability to remember and balance many different factors. Strong interpersonal skills are also helpful when bringing together two different organisations with different styles and approaches. This kind of work tends to be very well paid and is a sector which is likely to continue to grow in the future, making it a solid choice for a career for someone coming out of the economic law. Deal broker A sub-type of role within M&A is a deal broker, who matches corporations with targets for acquisition. This is suited to someone who likes to keep abreast of new developments and who has a feeling for which companies are in a position to grow or to become more valuable. It requires someone with strong skills in negotiation and insight, in order to bring together different companies in a successful way. For more careers, advice, including articles on top career paths for other economic specialisations, as well as study tips, job opportunities, and more, have a look at our website.
Continuing our series of posts on top career paths for economists, today we're looking at possible careers for those who want to work in economic law.
Compliance or regulatory affairs If you have strong attention to detail and a desire to reform businesses for the sake of the public good, then you might be interested in working in compliance or regulatory affairs. These two related fields seek to help companies conform to the rules and regulations which are set down by the government, to make their business as sustainable and safe as possible. Compliance generally refers to fields like finance or the environment, whereas regulatory affairs refer more to public health-related fields like pharmaceuticals or medicine. This work is suited to someone who is patient and can look at complicated regulations and convey what policies a business needs to put in place to meet them. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Econometrics, Statistics and Quantitative Methods (JEL C)</11an> Teaching economics If your favourite part of studying econometrics has been presenting to the class or taking part in class discussions, then you might consider working as an economics teacher. You could be a university lecturer on an economics course, or even teach secondary school children about the basics of economics. There is also important work to be done in teaching financial literacy skills to children and adults, to help ordinary people to deal with issues like paying their taxes, saving for their retirement, or understanding mortgages. These jobs are usually not well paid but can bring with them a strong sense of satisfaction as you get to pass on your knowledge to people who need it and to spread interest in your field. Auditing Similar to an accountant, an auditor prepares and checks financial records, usually for large businesses. This work is suited to people who have been trained as economists, as it requires skills such as high numeracy, understanding complex financial regulations, analysis, and the ability to work through a large project without becoming overwhelmed. This job is paid reasonably well but is often considered a little dull. However, the big advantage of this career option is that it is a growing field with secure, stable jobs. Also, during tax season there is plenty of overtime work required, which provides a nice salary bump. If you want a career with solid prospects for the future and not too much risk, then this might be the field for you. Statistician Closely related to the work done by econometricians is the more general work done by statisticians. If you are experienced at working with people from different academic backgrounds than you, you might find work as a statistician in the fields of the social sciences or the hard sciences. You could work in a research group, advising researchers on what kind of statistical tests they should be running or how to interpret their statistical results, or you could work teaching statistics to science students. This work is suited to someone who is an exceptional communicator, and who is interested enough to keep up with the latest findings in the field of statistics. If you want to put your statistics knowledge to practical use to help make new discoveries in science, then consider this as a career option. Computer science or programming One career area which you might not have considered is computer science. If you have specialised in econometrics, you likely have some experience and expertise in data analysis using programs such as Matlab, R, or Stata. You might have programmed in languages like Python or C++. If you enjoyed this work and have an aptitude for thinking in a logical, highly structured way, then you may be suited to working as a programmer. This work is often well paid and comes with more freedom in terms of working hours and self-presentation than other office-based jobs. For more job opportunities and advice for economists, including top career paths for other economics specialisations, see our website.
Are you studying economics, and wondering what career options are open to you? We're doing a series of articles on career paths for various specialisations in economics, and today we're looking at econometrics. With a degree in econometrics, you could of course go and work in the finance industry or for the government. But there are other options you might not have considered:
Econometrics, Statistics and Quantitative Methods (JEL C)
<11an>limit:2;categories:jobs|courses|conferences;disciplines:Economic History (JEL N) </11an> Academia One of the most obvious career paths for someone with a background in economic history is academia. Working within a university or research institution gives the opportunity to work with both history and economics departments and to glean knowledge and skills from both. Plus, it is the area in which funding for history-focused projects is most likely to be awarded. If you are most interested in the conceptual and theoretical issues related to economics and history, then a career in academia will allow you to explore these interests. The biggest advantage of a career in academia is the independence that you are given, being able to create your own research project and to use the methods or techniques which seem most appropriate to you. You need to be a creative thinker and to be capable of working independently to succeed in academia, but the potential intellectual rewards are very hight. Unfortunately, job stability in academia is poor and the pay is not particularly good, so be prepared for doing many job interviews and taking some months or even years to find a job. Teaching If you like the idea of academia but you aren't sure about the tenuous career prospects and the difficulty in securing funding, then you might consider teaching instead. Teaching at a high school can be extremely rewarding, as you get to inspire and influence young people and pass on your passion for your subject. With a background in economic history, you can teach economics, history, or social sciences. Teaching requires patience and organisation, with the ability to corral a boisterous or noisy class being an essential skill. You may need to undertake some kind of teaching training course after your degree in order to qualify as a teacher. The good news is that these training courses are often subsidised by the government, and teaching jobs tend to be stable and good for long-term prospects. Communicator / Journalist A career path that you might not have considered is becoming a communicator, for example as a journalist specialising in economics. Economics has a large impact on the daily life of members of the public, but as a highly complex field, the public often struggles to grasp it. The causes of events such as stock market crashes or incidents of hyperinflation are often poorly understood, even as they have a massive effect on the economic situation of a country. Therefore, there is great value in being able to explain economic issues to a broader audience. With a background in economics and history, you likely have strong written skills which can be applied to journalism or other public communication roles. Government advisor Finally, another prominent career option for economic historians is working as an advisor to the government. Having gained an understanding of the underpinnings of economic changes as they happened in the past, you are well suited to considering the future economic impact of various policies or events. This long-term view is particularly valuable to the government, who think in a more long-term manner than most corporations. Working for the government has the advantage of job stability and many opportunities for progression within the civil service or other governmental departments. Such jobs tend to have a good work-life balance, with plenty of vacation days and good benefits such as insurance and healthcare. If you want to put your knowledge to use by helping and advising the government on how to make better policy in order to improve people's lives, then this could be a good career for you. If you're looking for more ideas about career paths for economists from other specialisations, we have a whole series of posts on this topic. Alternatively, find job opportunity listings, study advice, and much more on our website.
For this week's top career paths article, we're looking at the potential careers which are open to those who have studied economic history.
Browse our job listings for economics opportunities Working for a charity or NGO For those who feel a strong drive to make the world better and to help others, working for a charity or NGO can be a natural fit. If you have knowledge of economics and skills such as quantitative analysis and statistics, then you can do important and helpful work for these organisations. Typically, people who work for NGOs or charities are very driven, so it is likely that your co-workers will share your values and your passion. However, the workflow of an NGO or charity can sometimes be rather chaotic, as there is less of an emphasis on productivity than there is when working for a business. This means that the work is well suited to people who can roll with changes and who are flexible and able to apply their skills to many different types of tasks but is less suited to people who like their work-place to be highly organised and efficient. Remember, because so many people want to work for NGOs, opportunities can be limited. It may be necessary for you to work on a voluntary basis or to do one or more internships to get the experience you need. In this case, it can be helpful to start volunteering while you are still studying, as you have your living expenses already covered. It is much harder to do voluntary work when you already have a full-time job! However, don't let yourself be taken advantage of: an internship should teach you useful skills that will be relevant to your chosen field, and it should generally only be for a short time, say three to six months. Consider carefully whether you will be able to afford to take on a voluntary or internship position and how long you can support yourself for before you need to find paid work. You could look for work at an organisation like War on Want, an anti-poverty charity, Action Aid, an NGO focused on global injustices, or Foundation for European Economic Development, a charity promoting research and projects in development. Work for a global organisation Another option for working in development economics is to work for a global organisation such as the United Nations. Very large organisations require staff in many different countries around the world, doing diverse roles including administration, program management, financial management, project coordination, and policy analysis. Once again, you can assume that you will be working with people who are also strongly values-driven and who are deeply committed to their work. Working in such an organisation will likely involve balancing the needs of stakeholders like clients, co-workers, and management. This requires an understanding of different points of view and the ability to weigh up the differing requirements of various people. To succeed in this field, you should have excellent communication skills, a broad mind, the ability to prioritise, and the ability to adapt to new or unfamiliar situations. It will help if you enjoy travel and like seeing new places and meeting new people, and being able to speak several languages or having the ability to learn a language quickly will be an advantage. To find out about jobs at the UN, or look at organisations such as the Center For Global Development, the African Union, or the Association of Southeast Asian Nations (ASEAN). Browse our PhD listings for more opportunities
Development economics is the branch of economics focused on understanding and promoting the development of low-income countries through economic growth and structural change. If you've been studying economics, you may have had the chance to specialise in development economics, or you may be thinking about doing so in the future. In the case, what career options are available in development economics, and what kind of skills do you need to get a job in this field? That's the question we're answering today, by showing you some of the top career paths in development economics.
1. Financial Analyst One of the most obvious career paths for someone with a background in business economics is to work as a financial analyst. Either for internal or external clients, a financial analyst uses data-driven approaches to predict what business or financial decisions will benefit the client in the long run. If you are a person with a broad understanding of both economics and business, you will perform well in this role. Quantitative skills including statistics and modeling expertise are helpful to set you apart from the crowd and to allow you to make more informed recommendations. Pay for this type of role will vary depending on the context, with small businesses typically paying a more modest salary and large financial institutions paying very high salaries to their top analysts. See the latest Financial Analyst Jobs 2. Market Research Analyst Market research is an essential step for a company to grow, investigating the needs and desires of consumers before a product or service is created, and then discovering how customers or users of the product react to it after it has been launched. Typical market research involves putting together questionnaires to be conducted over the phone or online, examining people's preferences, and then analysing this data. It may also involve organising in-person focus groups to collect more in-depth feedback from members of the public and/or potential customers. With a background in business economics, you'll have both the marketing vision and the data analysis skills to succeed in a market research analyst role. See the latest Market Research Analyst Jobs 3. Business Analyst If you enjoy both working with quantitative data and analysing complex systems, then you could consider working as a business analyst. This role involves assessing and optimising systems such as the processes and methods used by a company and finding ways to make those systems more efficient or productive. This work involves a lot of strategic planning, so it is suited to someone with a long-term view of the company and an understanding of what challenges it may face in the future. In some cases, the role of a business analyst can be closely linked with the company's IT systems, including interpreting rules and regulations regarding IT and ensuring that IT systems are in compliance with laws such as data protection. See the latest Business Analyst Jobs 4. Project Manager Project managers are responsible for overseeing all aspects of a project and coordinating a team in order to achieve the project goals. This involves tasks such as setting the desired outcome for a project, planning timelines and contingencies, keeping abreast of progress on all areas of the project, and supporting teams who have fallen behind in order to keep the momentum for the entire project. This kind of work requires an extremely high level of organisation, with the need to keep many balls in the air at the same time. It is suited to someone who focuses on concrete outcomes and who can pull dreamers and visionaries back down to earth in order to actually realise their ideas. See the latest Project Manager Jobs 5. Investment Banker Investment banking is a high risk, high reward kind of role. It requires a strong tolerance for risk, and an ability to predict future outcomes and to position oneself to be ready for those outcomes. If you thrive in a fast-paced, high-pressure environment then you may find investment banking to be both exciting and rewarding. These jobs tend to be extremely well paid, however, they usually involve very long hours and high levels of stress. Depending on your temperament, you may find the loud, assertive, and quick-reacting environment of most investment banks to be either off-putting or highly invigorating. With a background in business economics you have the knowledge of theoretical economics and the real-world understanding of business which makes an excellent foundation for a career in finance generally, and investment banking specifically. See the latest Investment Banker Jobs
A business degree can be a great investment with fantastic future career options. When supported with a solid understanding of economics, in the job market you'll find that you are an attractive candidate to a whole host of different employers. However, if you're thinking about taking a business economics degree, or are just about to graduate, you might wonder what exact career options are open to you. Here are five of the top career paths.
Top Career Paths: Agricultural and Natural Resource Economics
For this reason, we've been looking at the top career paths for various economics specializations, and today we're talking about agricultural and natural resource economics. What are agricultural economics and natural resource economics? These two related fields are focused on the application of economic theories to optimize the use of resources and the production of food and other crops. Natural resource economics is focused on managing resources such as food, water, air, minerals, and the environment as a whole, and often emphasizes the importance of sustainability. Agricultural economics looks in particular at land usage, food distribution networks, and maximizing crop yields. <11an>limit:2;categories:jobs|courses|conferences;disciplines:Agricultural and Environmental Economics (JEL Q)</11an> Career path # 1: government or government-related agencies One large employer in this area is the government or one of the various government-related agencies. All of their citizens, or one of them on an international basis, on an uninterrupted food supply. Thus the agencies which oversee the distribution of food and other resources are in need of trained economists to work in this area. Working for the government has the advantage that it is a secure, reliable job that you can usually stay in for life if you want. Although payment is less good than it is in the private sector, the public sector generally has better benefits such as more holiday time and good health care. This work is suited to someone who is organised and capable of keeping track of the many different policies and programs that are being run at any one time. You could find a career with an organisation like the Environmental Protection Agency, the National Wildlife Federation, or the National Marine Fisheries Service, in the USA, or their equivalent within your own country. Career path #2: Agribusiness Another big employer in this field is agribusiness corporations: large companies who process, distribute, and retail food. These companies employ specialists in economics to help them streamline their processes and improve their use of resources. These corporations tend to pay much better than working for the government or for a non-profit, however, they can be demanding jobs with long work hours. Also, some such corporations have come under fire for ethical lapses in their business models, especially in the developing world. How much of an issue this is for you will depend on whether you are someone who wants to stay away from profit-based motives, or whether you would rather try to reform and improve an organisation from the inside. You could pursue a career in agribusiness with a company such as Dow AgroSciences, DuPont, or Monsanto. Career path #3: International aid and development organisations Resource allocation isn't only a problem in developed nations. In fact, it's an even more pressing issue in developing countries. So if you feel a strong desire to help better the world with your knowledge, you might enjoy a career in an international aid or development organisation. Careers in these kinds of international organisations are suited to people who have strong language skills, and strong business skills can be a plus too. Knowing how to set a budget or to create a successful advertising campaign will be an excellent boon to your career. You will need a certain temperament for this work too: it can take a long time to get a project off the ground in an international setting, so you'll need to be patient. You'll also need to be culturally sensitive and capable of balancing the needs of different groups of people. You could find a career in an organisation such as the World Bank, The US Agency for International Development, or the USDA Foreign Agricultural Service. For lots more careers advice for economists, including job listings for all types of economic specializations, take a look at our website.
If you're studying economics, there are all sorts of specialities that you could look into. When you're thinking about what you should like to take care of, you should look at your specialization.
Agricultural and Environmental Economics (JEL Q)