Studying economics or business at Rotterdam Business School
Within Rotterdam is a well regarded business school, the Rotterdam Business School, which is a part of the Rotterdam University of Applied Sciences (RUAS). The business school offers bachelor's and master's degree programs as well as summer schools for training specific skills. Research specialities at Rotterdam Business School The Rotterdam Business School teaches and conducts all of its business in English, so it has a highly international outlook. As well as programs of study, there are many foreign exchange programs, so you can expect to meet people from all different countries and backgrounds there. There are students from over 50 countries at the school, and it has educational links to Europe, Asia, Africa, and North and South America. The focus is on real-life business skills rather than academic research, so the school teaches real business examples in its courses and partners with local and international businesses to teach the skills which are most available for starting out in businesses. There is also off-campus teaching as well as on-campus teaching, in which students are taken out into real business environments to learn directly rather than spending all of their time in the classroom. The aim is to get students out of university and into the workforce as smoothly as possible, whether the students are starting their own business, working for a small business, or joining a large multinational company. This very practical, hands-on approach may be appealing to those who like to do as well as to think, and who want opportunities to build networks and contacts in business while they are still studying. Programs at Rotterdam Business School There is just one bachelor program available, in International Business, which includes the study of languages like French, German, Indonesian (Bahasa Indonesia), Mandarin, Japanese, Spanish, Russian or Dutch as well as business knowledge. That makes it ideal for students who want to travel the world or who are interested in practising their business skills outside of the English-speaking world. The Business School has more of a focus on masters studies, with programs including masters degrees in Consultancy and Entrepreneurship, Finance and Accounting, or International Supply Chain Management. These courses tend toward being practical skills-based rather than more abstract, so they're great for those who want to start their own business or just into running a business as quickly as possible. ➲ Subscribe to find your ideal Master's program in Europe “I like the fact that in my university we have a combination of practice and theory,” a current student at the business school explained. “This combination helps me remember what I need to academically as well as instilling passion in what I am doing. Another advantage of my university is that it offers elective subjects that you can take, many electives are languages but for example, I took Neuro Linguistic Programming and I think it is cool that you can choose by your own extra subjects that can be added to your curriculum.” Tuition fees at Rotterdam Business School Tuition fees in the Netherlands are less expensive than in the U.S., but still represent a significant chunk of money. For a bachelor's program, EU students pay an affordable €2,143 per year, but non-EU students must pay a higher €9,620. These prices are comparable to or cheaper than many universities in Europe. The masters programs, however, are steeply priced. They typically cost around €11,750 for a one-year course, for both EU and non-EU students. There are some discounts available, such as a discount for those who are alumni of RUAS, or a discount to EU student rates for non-EU refugee students. Accommodation in Rotterdam One of the downsides of living in a popular city like Rotterdam is that accommodation can by extremely hard to come by. The apartments available are not cheap and are often small, and when trying to secure an apartment you may well be viewing a place alongside many other people. This can be a problem for those who are studying as many landlords would rather rent their apartments to people with full-time jobs rather than students. You can expect to pay a massive €1150 per month for a one bedroom apartment in the center of the city, so most students opt to share accommodations instead. Even so, a room in a three bedroom apartment in the city center may cost you around €650 per month. You could get lucky and find something for around €450 for a room in a shared apartment which is further out of the city center, but these rooms are often hard to find. The Rotterdam University of Applied Sciences does have some accommodation available for its students, but not many places. It offers around 220 rooms per year through its Foundation for Student Housing, but not everyone is eligible for this housing. The university is aware of the difficulties that accommodation can present to students though, so it offers services like short stay accommodation for when you first arrive and help and advice on how to find accommodation from other housing providers. An inside student tip is to start looking for accommodation as early as possible if you want to study in Rotterdam, as desirable housing gets snapped up quickly. Cost of living and going out in Rotterdam The good news for students is that, unlike the cost of accommodation, other costs of living in the city are relatively low. You can get a great meal for well under €20, and you can expect to pay around €4 for a beer at a bar. The public transportation around the city is excellent, and with a ticket costing under €80 per month you can travel all over the city for not too much money. The city is also very walkable, and of course, being located in the Netherlands, many people ride bicycles. With plenty of bike paths and many other cyclists on the roads, it feels much safer and more enjoyable to cycle around Rotterdam than it does to cycle around comparable large cities in the U.S. There is a European cafe culture, with many people spending time getting coffee and sitting outside to walk the world go by. There are similarly many bars and places to go out, and a budding art and music scene influenced by the industrial vibe of the city. The architecture is one of the most striking things about the city. As a busy port, it sits on the water and has a strong industrial feel. Much of its development has been fairly recent so the building have a very modern look, which is not for everyone but which is exciting and unique. ➲ Discover all study programs in the Netherlands
Rotterdam is a funky, modern city in the southern part of the Netherlands, taking less than an hour to travel to by train from the capital Amsterdam. Although Amsterdam might be the more famous tourist destination to those outside of Europe, Rotterdam has an edgy, exciting quality which makes it a highly desirable location for people to study.<o:p></o:p>
Conference Scholarships to Fund Your Conference Trip
Check out our conference listings 1. Royal Economic Society Conference Grant Scheme Also aimed at economists is the RES conference grant, which is open to members who are presenting an economics paper or giving a talk at a conference. This funding available is up to £500 and applications for awards are accepted three times a year, in January, May, and September. Applicants will have to submit a summary of the impact the funding had on their trip and receipts detailing their expenditure. 2. International Atlantic Economic Society Scholarships Conference grants are available for economists living in Turkey, Eastern Europe, and Africa through the IAES to attend their yearly conference which is held in Europe. Awards of $250 to $350 are available, and recipients are invited to present a paper at the conference. 3. World History Association World Scholar Travel Fund Another organisation which offers a scholarship to cover the cost of attendance at its conference is the WHA, which gives funding primarily to academics from outside of North America to cover travel and other costs. In addition to this, they offer conference registration fee waivers for those who are in economic need. There's also a teacher scholarship which can fund a K-12 or community college teacher who is presenting a paper. 4. International Association for Energy Economics Student Scholarships Students in the field of energy economics who are from developing countries can apply for a scholarship from the IAEE to attend their conference. The scholarship covers travel and accommodation costs of up to $1750 as well as the cost of the conference registration fee. 5. American Political Science Association Travel Grants Those in political science who are US graduate students, international students in the US, international scholars, or unemployed members can apply for a APSA travel grant to attend the organisation's two yearly conferences. They also offer scholarships for Latino/a students and other minority groups. You have to live more than thirty miles from the conference location and of course be a member of APSA for at least through the date of the conference you'll be receiving funds for. 6. DAAD Scholarships in Germany German science researchers or international researchers who are working in Germany may apply for a scholarship from the DAAD to cover the costs of attending an international conference at which they are presenting a poster or giving a talk. The scholarships are available on a rolling basis, but the application form is in German so knowledge of the language is required. 7. Government Finance Officers Association Scholarships Professionals from the United States or Canada who work in government finance can apply for a number of scholarships including a minorities in government finance scholarship from the GFOA which cover travel to their annual conference along with accommodation and registration costs. You'll have to have plans to pursue a career in state, provincial, or local government finance, as well as not have received a scholarship before. Each scholarship also has its own requirements.
If you've got a conference coming up that you want to attend, you'll know that there are lots of costs associated with a trip. You'll need to pay for travel and accommodation as well as the cost of conference attendance, which can all add up to a large amount of cash. Often, your department will pay for conference trips, but what if you run out of travel budget, or you don't have this option? In that case, you might want to consider applying for a conference scholarship. These are awards of money given to fund travel and attendance at a conference, usually for students or early career researchers. Often these scholarships will require that you're actually presenting at a conference, but not always - some have different criteria, such as where you are a resident and whether or not you're a student. In any case, there are large databases available to find scholarships for conference; here is a short list to get you started.
The global credit crunch of 2007-2008 has had significant implications for the lives of many people around the world. This short course aims to provide students with an understanding of conventional macroeconomic thinking so that they can understand the essential principles of how the macroeconomy of nation states functions in a globalised world. Once students have completed this course they will be better placed to understand the causes of inflation and unemployment and the relevance of government monetary and fiscal policy in dealing with such economic problems. Therefore, students will be able to use the knowledge gained to understand everyday macroeconomic events. Furthermore, students will have a solid foundation upon which they can progress to higher level studies in Macroeconomics as well as being able to apply the knowledge gained to other online courses such as ‘Globalisation'and the ‘New Economic Powers’. For information on how the courses work, and a link to our course demonstration site, please click here. Recommended reading To participate in this course you will need to have regular access to the Internet and you will need to buy the following book: Goodwin, N., Nelson, J.A., and Harris, J., Macroeconomics in Context 2nd edition (M.E. Sharpe, 2014) Certification To earn credit (CATS points) for your course you will need to register and pay an additional £10 fee for each course you enrol on. You can do this by ticking the relevant box at the bottom of the enrolment form or when enrolling online. If you do not register when you enrol, you have up until the course start date to register and pay the £10 fee. For more information on CATS point please click on the link below: http://www.conted.ox.ac.uk/studentsupport/faq/cats.php Coursework is an integral part of all online courses and everyone enrolled will be expected to do coursework, but only those who have registered for credit will be awarded CATS points for completing work at the required standard. If you are enrolled on the Certificate of Higher Education you need to indicate this on the enrolment form but there is no additional registration fee. Assignments are not graded but are marked either pass or fail. All students who successfully complete this course, whether registered for credit or not, are eligible for a Certificate of Completion. Completion consists of submitting both course assignments and actively participating in the course forums. Certificates will be available, online, for those who qualify after the course finishes.
his course provides a detailed introduction to, and encompasses the fundamentals of macroeconomics. On completion of the course you will have the ability to critically assess real-world macroeconomic developments at first-year undergraduate level. Moreover, students will be able to better understand the material in other online economics courses such as the ‘New Economic Powers'and ‘Globalisation’.
Macroeconomics and Monetary Economics (JEL E)
Plan B: What to do if your PhD Application is Rejected
Assess whether the department was the right fit for you Sometimes, a rejected application can actually be a blessing in disguise. If your research interests do not align well with the interests of the department to which you applied, then it would be difficult for you to bond with the department and to get the support that you need in your PhD. Some departments or institutions have more broad interests than others, but usually the more specifically focused a department is, the easier it will be for you to study that topic there. So take some time to think seriously about whether your proposed project was a good fit for where you were applying. If not, try to find departments that do research which is more closely aligned to what you want to do. Also consider your own profile – it will be easier for you to be accepted onto a program where you have an academic background in common with other researchers there. Maybe you can find a different department to apply to which is more closely suited to your project. Get more experience Some applications will be rejected even though the project proposal has potential, because the applicant does not convince the assessors that they can perform the work. You are not expected to have a complete understanding of how to perform a research project when you apply – after all, the purpose of the PhD is to teach you these skills – but you do need to show that you have some level of experience. This is especially true if you are changing fields between your masters and your PhD. If you want to move from, say, history to economics, then you would be expected to have some experience with statistics, mathematics, or modelling, for example. If you don't have this experience, you can try to get a job as a research assistant or research worker to help you build up your skills and demonstrate that you can perform the kind of work that you want to do. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> Reapply next year If you've considered all of the above, and decided that the program which you applied to is still definitely the place at which you want to do you PhD, then you can always apply again next year. While it might be helpful to gain more research experience or to perform some new work, often the best way that you can improve your chances of being admitted to a PhD program is by improving your application. Look again at your research proposal and letter of motivation. Make sure that your proposal is realistic and achievable in the typical three year period. Don't just tell people that you have skills in your motivation letter – rather, show that you have the skills by talking about what you have achieved with them in the past. You can also try to contact people at the department you wish to join and ask them for feedback on your application. This can be a hit-or-miss technique, as many academics are very busy and may not have time to help applicants. This is especially true of departments which receive large numbers of applications, so be prepared that you may not receive an answer, and don't be pushy. However, you may find that someone is willing to help you and suggest improvements to your application. It can sometimes help to talk to the admin staff handling applications as well as the academics, as they may be able to give you additional guidance. Browse our PhD listings to find your next opportunity
If you've applied to do a PhD but have been unsuccessful, don't despair! Although having an application rejected can be disheartening, it isn't unusual, and it can often take people a couple of tries until they get accepted onto a course. Here are a few tips on what to do if your PhD application is rejected. If you plan to improve your PhD application this autumn, download our free guide "How to successfully apply to a PhD in Economics"
Tips For Students: How To Find A Part-Time/Student Job To Finance Your Studies
This is not necessarily a bad thing, as there are numerous advantages that come with being employed on a part-time basis whilst studying. The benefits are first and foremost financial - the extra cash can prove invaluable - but there are also additional benefits, such as valuable time management skills - having less free time requires students to organise and manage their time more precisely in order to meet academic deadlines - as well as providing a productive escape from essay writing. Furthermore, in the most ideal scenario your part-time job can serve as an introduction (first step) to a possible future career, and at the very least this will provide a positive experience for future employers to appraise. Concerning employment after graduation, you never want to be in an interview fresh out of university and say that you do not have any previous professional experience. And last but not least, it can be argued that students who have part-time jobs and who are not solely dependent on their parents, scholarships or other sources of funding tend to spend their own money more wisely. Having established the undeniable advantages of getting a student job, here comes the hard part, how do you get one given the scores of students who are in the same boat? Well, here are 6 crucial tips: 1. Use the structures and tools at your disposal. In that regard, your first stop should be the university’s Jobshop or Career Services Office. Almost all universities possess one, and at the very least they will be able to point you in the right direction. 2. Universities draw upon their own students to fill a variety of jobs within their own institution. There will most likely be a regular newsletter or mailing list keeping students informed of the latest vacancies. Never forget, the early bird catches the worm. 3. Remember that you are not the first university student to be seeking employment, so find out how your fellow students have solved the problem. Word of mouth is an invaluable resource in that respect. This is especially true since many jobs are not announced publicly - instead these may be filled through unofficial channels. 4. It could be argued that in our digital world, the only thing more effective and efficient than word of mouth with regards to the circulation of information is social media. So get online and check the various forums for current vacancies. 5. If you are more traditional and not comfortable with new technologies, then you can always arm yourself with your printed CV’s and go door-to-door to local shops, restaurants, bars and pubs. Make sure that you look professional and make a good first impression. Remember that you are neither alone nor the first university student to walk through their door seeking employment, so make sure that you set yourself apart from the crowd. 6. When it comes to finding a student job to finance your studies, remember that the most crucial factor is your own initiative. Although there will no doubt be a support system at your university, this is merely a resource and others cannot plan and attend a job interview on your behalf whilst you sit at home and wait. So be proactive. The only students who don't have a part-time job are the ones who don’t need one or are not looking hard enough.
Given the highly competitive nature of funding opportunities and the ever-increasing cost of higher education, a part-time job is seemingly an unavoidable part of the student experience. Whether it be to earn some more money to put towards tuition fees, or the cost of living expenses or even having a little aside for entertainment and leisure activities, students find themselves increasingly obliged to find a part-time job whilst at university.
How to Write a Cover Letter: Five Steps to Success
In this post, we’ll break down how to write a successful cover letter into five basic components. This information can be applied to any type of cover letter, though it is most closely aligned with a cover letter for a job application. We've also included some examples at the end to help you generate ideas for your cover letter. If you're interested in economics resumes or academic cover letter samples as well, be sure to check out the linked articles. Browse our job listings for economics opportunities 1. Start with a great introduction Rather than restating your name and the title of the job to which you are applying, begin with a strong sentence about what makes the position right for you. Skipping the unnecessary repetition of information and jumping right into your letter makes you look more professional while also emphasising your interest. If you have any personal connections to the institution or organization, mention that in the first few lines. Such connections can set you apart from other applicants, so don’t be afraid to point them out. If you don’t have any connections, use the full first paragraph to express your interest in the position and briefly mention why you are a good fit for the job. 2. Highlight your unique qualifications In the body of your letter, you should include one to two paragraphs describing details about your academic and professional background. This should incorporate information that cannot explicitly be found in your CV, including strengths, interests and achievements that are relevant to the job to which you are applying. Don't be afraid to cite specific accomplishments, as specific details are far more impressive and memorable than bland lists of qualifications. 3. Show you’ve done your research Prior to sitting down to write a cover letter, spend some time looking at the website of your prospective employer. Read about current events, research or other work being done in the area to which you are applying. If there are publications available, take a look at those, noting any points of particular interest. You should not simply reiterate what you’ve learned about the organization, but instead underscore why and your background and qualifications fit with the work they do. By referencing the current work of the organization to which you are applying in connection to your own qualifications, you create a clear link for the hiring team and can set yourself apart from other applicants. 4. Be brief and concise While your cover letter should be packed with useful and interesting information, it should also be short and to the point. As a rule, a cover letter should only be one page long, unless your prospective employer has stated otherwise. In order to keep your letter brief but powerful, read through each paragraph individually and make sure every sentence tells the reader something important. Any superfluous sentences or paragraphs should be removed, as they will only distract the hiring team from what’s important. 5. End with a strong conclusion The final paragraph is just as important as the opening paragraph, as these are what stick in the minds of the person reading your letter. You should reiterate what you said in the opening paragraph while incorporating elements of points you raised in the body of your letter as well. In your conclusion, it is important to demonstrate that you understand what the organization needs and show them that you are the person who can offer it. Be clear but not generic and enthusiastic but not overly flattering – in short, make yourself memorable without going overboard. In addition to each of these components, there are some simple stylistic elements to remember. Choose the right font for your resume to make a great first impression. Second, never send a cover letter in Word form – instead always convert it to a PDF. You could even think about using a cover letter template to really make your letter stand out. Third, for the convenience of the reader, it is a good idea to combine your CV, cover letter and any other application documents into one PDF, with your cover letter on top. Where to include references is also something to consider. Finally, it’s always a good idea to have someone else read through your cover letter before you send it off, as outside feedback can help you edit it down until it’s just right. And now for some examples... Thank you to Novoresume.com for allowing us to reproduce some of their excellent cover letter examples here. You can find more cover letter examples on their website. If you're looking for examples of sample motivation letters for PhD applications check out our guide. Cover letter example for students and graduates Cover letter example for middle management positions Cover letter example for management positions
Whether you’re still a student, a recent graduate, or already years into your career, mastering the art of cover letter writing is useful at every level. In one form or another, cover letters are a required component of applications to jobs, study programs, conferences, scholarships and many other important opportunities along your career path.
Does Economics Have a Problem with Women?
In any field, such inequity would be troubling, but because of the role economics plays in our society—how much it informs public policy—the problem it poses is especially disturbing. While in power, mostly male politicians refer to mostly male economists to legitimise their policy programmes; male priorities derived from male experience are, in effect, trumping their female counterparts. This collaboration serves to imbue patriarchy into the legislation that structures our daily lives, hindering the achievement of gender equality. Browse our job listings for economics opportunities To some, this may sound over the top, far-fetched even—but it isn’t. In fact, it’s borne out in the data. A recent a survey of members of the American Economic Association (AEA) revealed the extent to which male and female economists diverge in some fundamental areas. Perhaps most alarming is the split on the gender pay gap: only 14% of women said the gap was explained by differing educational qualifications and occupational choices, compared to 54% of men. Given men are advantaged by the gap it is awfully convenient for them to believe ‘superior’ education and ‘wiser’ decision-making accounts for it. In practice, such a discrepancy means the voices that need to be heard to fight the injustice are less audible, sometimes even ignored, and consequently the pay gap endures. For men, the issue remains a concern, but evidently nowhere near a priority—and unfortunately, they set the agenda. Worryingly, divergence in opinion extends to other major policy areas too. Women, for example, are more likely to support greater wealth distribution, larger government size, and a higher minimum wage—initiatives generally considered to be especially beneficial for women. And therein lies the inhibiting pattern that pervades the discipline. Simply put, academics research areas in which they are already familiar and/or have personal connection/stand to gain from. The underrepresentation of women, therefore, inherently limits the variety of questions economists look at (a short-coming that applies, even more strikingly, to people of colour) and allows white male opinion to remain the governing opinion. This lack of diversity is unquestionably constraining the field’s intellectual development and stymieing its ability to bring about transformative change. How bad is the situation? The gender imbalance in economics begins with education and is then traceable at every stage of the economist’s career development—a phenomenon former chair of the Federal Reserve Janet Yellin calls the ‘the leaky pipeline’. While ascending the career ladder, women are met with ever-thicker glass ceilings, halting progress and in some cases, encouraging the abandonment of the profession altogether—the more senior the economist, the less likely it is a woman. Economist and New York Times contributor, Justin Wolfers, has looked into the number of women majoring in economics at undergraduate level, and found that the proportion, having ‘peaked in the mid-to-late 1990s’, now stands at a paltry 35%, the same amount as in the early 1980s. This, too, is against a broader backdrop of women excelling across academia, comfortably earning the majority of completed undergraduate degrees. Adhering to the pipeline logic, these numbers further dwindle at doctorate stage. In another study by the AEA, it was shown that at many of the top US universities less than one fifth of incoming economics doctoral students were women, with the share then completing their PhDs also falling. Enter the world of work and things get no better. A sobering illustration of the vocational restrictions women face can again be seen looking at universities. As noted by economist Heather Sarsons, ‘female economists are twice as likely to be denied tenure as the male colleagues’, and of the women who make it, only 29% then proceed to make full professorship after seven years. For men, this figure is almost double, standing at 56%. Donna Ginther, professor at the University of Kansas, has found that these occupational realities greatly inhibit female job satisfaction, their happiness in the workplace lagging far behind that experienced by men. Why is economics such a bad egg? The obvious next question is why? Why is economics failing to improve gender diversity when other male-dominated fields are making progress? Lack of female ability can be immediately dismissed, and not just for its flagrant misogyny. There is much evidence that actually points to women matching, and in numerous cases, outperforming men while still in the ‘pipeline’. In both the UK and US, for instance, women average better grades at undergraduate level, and while working are equally as prolific with regard to publication output. Instead, analysis—like for example that conducted by Amanda Bayer and Cecilia Rouse—suggests that a bias, both implicit and institutional, is the ‘more likely culprit’. Analysis in this area is growing, and has already uncovered a host of systematic barriers that women face. The list is dauntingly long. As reported by The Economist's Data Team in 2018, investigation has shown that female economists are being held to a higher standard than their male counterparts, particularly when it comes to publishing. The demands made of their research are more rigorous: women experience an increased likelihood of requested rewrites, while the criticism levelled at their work is also much harsher. Together, these factors conspire to make publication a more time-consuming and onerous task. To add insult to injury, when work is co-authored with a man, research shows the female contributor receives significantly less peer credit than the male. Sarsons exposed the ubiquitous nature of this bias in a lengthy study based on publication data from the last 40 years. While acknowledging the ‘publish or perish’ culture that pervades academia and that much economic research is collaborative, Sarsons shows that the consequences of this bias severely damage women’s chances of tenure. The gendered division of labour within economics helps to compound the above problems. As explained by Emmanuelle Auriol, once qualified, the focus of male and female economists tends to diverge along certain lines, women gravitating towards more people-oriented sub-fields like ‘labour, health and education’, while men are drawn to macroeconomics. She continues, asserting that editors and publishers—who predictably are mostly men—are often less accustomed to the sub-fields that women are more likely to represent, this relative ignorance reducing the chances of their publication. This lack of visibility, in turn, denies the sub-fields a certain level of respectability, tarnishing their academic prestige and potential utility. Going forward The marketplace of ideas has long been presumed an effective sieve, siphoning the good ideas from the bad, ensuring that quality research rises, like cream, to the top, making itself available for public use. By this logic the current state of publication would suggest that men are simply having better ideas. Instead, the problem is that the sieve is not working the way it should, and perhaps never has. It functions, rather, as a self-reinforcing, self-serving device that has only been effective in insulating the discipline from change, risking it becoming anachronistic. For it to consider itself a true meritocracy the culture of economics needs upheaval—a process that should begin with its own investigative nous being turned in-house. Candid discussion of implicit biases must take place; high female dropout rates need thorough investigation; and clear descriptions of female contribution to co-authored pieces have to be guaranteed. Of course, these are mere starting points, the first repairs to an incredibly porous pipeline. Most important of all is that the work towards this renovation starts now.
Economics has a gender problem, it always has, and unfortunately, it appears to be getting worse. Until recently, the impression was that this historically male-dominated discipline was turning a corner—albeit rather slowly—and the number of women studying economics was creeping upwards. That progress, however, looks to have stalled, and by some accounts, including that of the Australian Department of Education, actually gone into reverse. All the while, the number of women in the STEM fields (Science, Technology, Engineering, and Maths)—long notorious for their poor gender ratios—has been steadily increasing. It looks as though the ‘old boys’ club’ of economics might be closing ranks.
Browse our job listings for more opportunities Compared to previous generations they live longer with their parents; earn less money, while working longer hours; are more stressed; and reportedly, have less sex. To compound this, they know it needn’t be this way, that their reality – sex put to one side – is a political choice that theoretically could be changed. With this in mind, it’s little surprise that the annual Deloitte Global Millenial Survey paints a picture of a demographic consumed by disillusionment and mistrust – bestowing Millennials the moniker the ‘disrupted generation’. Comprised of the views of over 13,000 Millennials from 42 countries and territories, the aim of the survey is to gauge the general Millennial mood, glean their opinions on the present, and judge their expectations of the future. The following is a brief summary of some of the larger takeaways. A lack of trust Faced with continuous technological and societal dislocation, Millennials are experiencing what was described as a growing sense of ‘uneasiness and pessimism’: the feeling that something isn’t right, that the cards they were dealt weren’t fairly distributed. Much of this found articulation in their general disregard and mistrust of traditional institutions, particularly politicians and religious leaders, neither of whom – in the view of the majority – are making a positive impact on the world. In addition to being thought of as inept, they’re also viewed as dishonest, almost half of the respondents having zero faith in either set of leaders as ‘sources of reliable information’. Trust, in fact, seems to be a diminishing commodity, falling elsewhere too. Over a quarter of respondents reported having no trust in conventional media as a source of accurate information. Indeed, it barely outranked social media platforms as a dependable means of accessing news, raising the question: who exactly do Millennials trust to disseminate facts? The internet offers something of an answer, having borne witness to a huge proliferation of alternative media. And yet, it still leaves much unclear. What can be said is that the declining faith in traditional pillars of trust, and the absence, as of yet, of an institution or group filling this void, is further fuelling the generational sense of uncertainty. Facts are an orienting force, foundations through which the world can be framed. Their lack, therefore, perceived or otherwise, is a thoroughly disconcerting influence. Falling trust, falling optimism Businesses have not escaped Millennial ire either, and are held in marginally higher esteem than their political and religious counterparts. Just 55% believed businesses were making a positive impact, after four consecutive years in which the figure hovered in the 70s. These results were driven by the growing sense that businesses operate in their own interest with little regard for society at large. Given the steady stream of scandal – the recklessness, for instance, that prompted the recession – environmental devastation – in which big business is routinely implicated – and everyday worker exploitation, it’s hardly surprising. Businesses, generally, were thought out of step with Millennials’ priorities, neglecting both their societal and environmental responsibilities. This misalignment has made them the focus of much scorn. Declining trust has, perhaps predictably, developed in parallel with a decline in optimism. While there is an acceptance that the economic situation in which they live is not a good one, Millennials have little expectation that things will improve in the foreseeable future – only 26% were expecting improvement in their countries in the next 12 months. From a personal perspective, over half were convinced that their own financial situation would either remain the same or worsen in the same time period. With ample time to have fixed, or at least better repaired, the damage wrought by the recession, what Deloitte has called pervasive 'pessimism,' could easily be called pragmatism. Industry 4.0 The forces of Industry 4.0 – visible now in the majority of workplaces – are expected to ramp up the disruption of the already disrupted careers of Millennials. Since their entry into it, the job market has been in constant fluctuation, and change, which has become its defining characteristic, is set only to increase. For some jobs, this has meant the assimilation of new tech, while for others it has meant full automation. With a convergent scientific community predicting that this trend will transform economies over and over, it was surprising that a quarter of Millennials thought the forces of industry 4.0 would have no bearing on their jobs at all. Equally strange was that just 49% thought new technologies would only ‘augment’ their jobs. These responses reflected an uncharacteristic optimism, or possible naiveté, that could have great consequences if they translate into political choice. Governments must ready their populations for automation and there is little indication that incumbents are up to the task. When choosing their successors, Millennials will have the decisive vote. The disrupted disrupt While Millennials have been the subject of much disruption, some disturbances have also been of their own making. Their behaviour, both passively – in delaying large purchases and having fewer children – and actively – their preparedness, for instance, to quit their current jobs – has, and is, profoundly affecting society and business. For example, Millennials expressed loyalty to companies that ‘deliver best on financial performance, community impact, talent development, and diversity and inclusion’. When these criteria are left unfulfilled, they indicated they would likely end their relationship with said company. Further disrupting business is their willingness to engage in freelance and contractual work, which many explained as paying better and affording greater flexibility. The ethical stance taken with regard to work is mirrored in how Millennials consume, the younger generations speaking with their wallets, rewarding companies they believe most respect their values. Again, making a positive impact on society was high on their list of priorities. This is forcing a profit-driven and, at times, callous business community to reassess the way it works, a response that has been slow but is underway. It also poses a serious challenge to companies that desire a stable workforce, as most do, for if left unimpressed Millennials will walk. Going forward Entering the job market as the recession unfolded, beginning careers in a post-crash world; it’s hardly surprising that optimism among the young is in short supply. Millennial lives have played out against a backdrop of perpetual social, political and economic commotion, with periods of stability practically non-existent. And yet, although disillusioned and often distrustful, they have remained both ambitious and altruistic, the survey showing most are still are confident that their life goals will be achieved. They may be down, but the ‘snowflakes’, as they are sometimes derisorily called, are far from out. To the contrary, they are intent on making a decent fist of it, despite living in a present defined by change and facing a possible future of even greater uncertainty.
Sandwiched snugly between generations X and Z, Millennials, it's fair to say, have had it tough. Entering the workforce around the time of the Great Recession and now enduring the disorienting forces of the so-called fourth industrial revolution (also known as Industry 4.0), their world has been one of constant flux. History is accelerating faster than ever and technological progress in some areas is exponential, rapidly changing the face of work. And yet, with the possibility of abundance now a reality, Millennials are experiencing their economic opportunities reduce, many privileges enjoyed by their baby-booming forbears – improving living standards, home ownership etc. – increasingly out of reach.
The election of Barack Obama in 2008 and the withdrawal of American troops from Iraq three years later was supposed to mark the decline of its influence, a decline that was widely believed would be terminal. After a decade of war, people were weary and with inequality spiralling, problems at home were considered of greater concern than escapades abroad. It felt like a spent force. The political arena reflected this too: the term ‘neocon’ was reduced to an epithet, a word of derision for Democrats, and occasionally even moderated Republicans, to hurl when in heated debate and seeking to score cheap points. Over time it lost much of its meaning - no longer a reliable indicator of political outlook, simply a way to denounce or discredit. And then came the election of Donald Trump, and like with much else, things changed. Despite his campaign blasting neocon’s signature policy, the invasion of Iraq, as a ‘big fat mistake’, Trump’s presidency has offered neocons a way back. In his three tumultuous years in office, his administration has welcomed back into the fold architect of the Iraq invasion and chief hawk, John Bolton, now National Security Advisor; and appointed war-enthusiast, Mike Pompeo, as Secretary of State. The political persuasion of both is well known, and in the case of Bolton, his penchant for war may well be his defining characteristic. A similar trend can be seen in the media. Newspapers and magazines have increasingly been featuring opinion of a neocon bent. From the New York Times to the Atlantic, the development is a marked one. With bellicosity of this kind on the up, consuming not just op-eds but presidential addresses, the feeling is eerily familiar - the neocons are asserting themselves, flexing their muscles once more. <11an>limit:2;categories:jobs|conferences;disciplines:Public Economics & Economic Policy (JEL H)|Economic Systems (JEL P)</11an> A short history of neoconservatism Given its overuse, a detour back to its origins and early development helps get a better handle on the ideology and its more dangerous proclivities. Neoconservatism was a child of the 1960s, born in response to the New Left and the growing pacifism that emerged in and alongside the anti-war movement. The hallmark of its early adherents - many who identified as liberals – and the source of their zeal, was an uncompromising opposition to the totalitarian Soviet Union. Fearful that the West was ‘losing its purpose’, its fingers slipping on the mantle of global moral arbiter, neocons advocated a strident foreign policy, in which America took centre stage. They scorned Nixon and Carter’s respective attempts at détente with the Soviet Union - conciliatory politics in the face of tyranny was anathema - and celebrated Reagan’s more confrontational approach to Cold War diplomacy. When the Iron Curtain did finally fall, it was a moment both of vindication and trepidation. Buoyed by democracy’s triumph over dictatorship, they were also - with the removal of the Soviet threat - denied their rallying point, their common cause. Rhetorically speaking, with no enemy they were left toothless. It was in this environment of doctrinal uncertainty that a group of its younger acolytes, including one Paul Wolfowitz, came together to explicitly reinstate the ideology’s key principles and to reinvigorate the movement. The paper was innocuously titled the ‘Defense Planning Guidance’; it soon became known as the Wolfowitz Doctrine. The paper expressed a desire to construct a world based on American ideals that would be driven by American-directed economic growth. This would, in turn, encourage the emergence of American-style democracies, where previously there had been despotism. The world was to be administered by alliances and inter-governmental organisations led, naturally, by the U.S, and protected by means of assertive diplomacy, economic sanctions, and when necessary, the American military. In certain cases, pre-emptive military action was believed to be justified. In short, the paper’s primary concern was to prevent the emergence of a rival global power. No region was to be dominated unless under the direct supervision of the US; only then could American safety be assured. Although not to a tee, these core principles informed most US foreign policy, irrespective of government, throughout the 90s and into the 00s. Neocons in crisis The project culminated in the invasion of Iraq in 2003. The ousting of Saddam Hussein - premised, as we know now, on twisted intelligence - was to serve as a Petri dish for reform of the entire Middle East and the attempt to spread democracy in the region. It was, in effect, a test of the base assumptions of neoconservatism. The policy was a disaster. Over a decade later, Iraq remains in chaos, ravaged by cycles of war, and the Middle East is more fractured and less stable since intervention. Through the failure, the ambitions of the neocons were brutally checked. Their idealism, based in large part on their arrogance, had clashed violently and catastrophically with reality. They were forced to confront the fact that America was not the omnipotent force they presumed, that the imposition of elections alone cannot transform a country, and that to think either was to be unacceptably naïve or unforgivably reckless. Re-birth? And this was supposed to be the end of it, humiliation the final death knell. Neoconservatism was, for most, no longer intellectually credible, its agenda bankrupt. The corridors of power were as far away as they had ever been. And a return looked improbable, if not impossible. That was until Trump. Under his presidency, erratic as it’s been, the impulses of neoconservatism are once again audible, and getting louder. In a contradictory series of events, their re-emergence actually began with Trump castigating the neocon project, deriding the Iraq War and talking down the possibility of future overseas intervention. His campaign promised a focus on Americans, plans framed largely economically: how money was to be saved, where costs could be cut etc. The expense of conflict made it unappealing and to be avoided. Three years in office, however, and things now look very different. The revolving door of his administration has let in hawks John Bolton and Mike Pompeo, who, in the absence of a confirmed Secretary of Defence, are de facto Trump’s most influential foreign policy advisers. And their effect is being felt. On assuming their respective roles, both set about asserting their long-held contempt for Iran, quickly bending U.S foreign policy to such feeling. Bolton has repeatedly insisted on the necessity of military action to deal with the ‘rogue’ government, an obsession that has consumed him for the better part of three decades, while Pompeo has declared that ‘there is no doubt… a connection between al-Qaeda an Iran’, and that the country’s continued ‘bloodletting and lawlessness’ needs to be stopped. With the relentless admonishments ringing in Trump’s ears, the increasingly agreeable president was easily persuaded to abandon the Iran nuclear pact. The deal had no bearing on Tehran’s desire to develop nuclear weapons, his two advisors reasoned, and therefore served little purpose. For Trump, the opportunity to dismantle any part of Obama’s legacy has rarely required much justification. Soon after, the duo pushed through the decision to designate Iran’s Revolutionary Guard as a terrorist group, against the advice of many military officials who warned it might encourage retaliation. In true neocon speak, Pompeo explained it as part of an attempt to ‘help the people of Iran get back their freedom’. Again, Trump quickly acquiesced. The openness and conviction with which this hawkish hostility is held appears to be infectious, the free-flying browbeating emboldening other lower profile Republicans to also speak out. Arkansas Sen. Tom Cotton, for instance, recently joined the fray, boasting that the U.S. could defeat Iran in ‘two strikes, the first strike and the last strike’. Ominously, these developments are taking place in a growing ecology of neoconservative thinking by no means exclusive to Trump’s inner circle. Prominent journalists Ari Fleischer, Max Boot, and Robert Kagan are all regularly talking up the advantages of a pre-emptive strike on Iran to their large and loyal audiences, while broadly liberal publications have been reserving countless column inches for those hankering after conflict. Bret Stephens, writing for the New York Times, declared only this month that if Iran doesn’t change its behaviour, ‘we should sink its navy’. Talk of this kind is dangerous; that invasion is viewed so simply, staggering. As analyst Aaron David Miller has said, in case of invasion Iran ‘has many options available to it’. It is a powerful nation with proxies situated throughout the region. Utilising them, as it would if conflict arose, it easily commands enough military strength to badly hurt America: Hezbollah could strike Israel, Shia militias in Iraq could attack American forces, and Iranian backed groups could go after Americans in both Syria and Yemen. The conflict would be messy and destabilise a region already so fractured and volatile. Despite this, according to reports, the Pentagon is planning to increase American presence in the region by 5000-10,000 troops, this after an aircraft carrier, bomber planes and anti-missile batteries have already been sent. Trump has also committed to significantly enlarging military spending, what would be the largest increase in the country’s history, and at the end of June 2019 reportedly blocked a US strike on Iran 10 minutes before it was planned. The signs are not good. War with Iran looks closer than it has done for many years. Neocons have infiltrated the Whitehouse, and are bending the ear of its attention-seeking inhabitant, acclimatising him to their sabre-rattling rhetoric. Meanwhile, an increasingly compliant media is egging them on. The necons may not be huge in numbers but, evidently, they occupy positions of serious influence. For the sake of peace, it's time we all took notice.
In its short and controversial history, neoconservatism has changed America. For almost 60 years, the ideology has variously been embraced and rejected; celebrated for its patriotism and commitment to democracy; and disdained for it hawkish arrogance and imperialistic tendencies. It has simultaneously proven uniquely divisive, while also unifying people across party lines. Quite simply, recent American political history cannot be made sense of without an understanding of neoconservatism; such has been its influence.
Public Economics & Economic Policy (JEL H)
Powering the West’s rise from provincial backwater to global force, they permitted Europeans, for the first time in hundreds of years, to experience better living standards than their forebears. More recently, coal-based growth also became an obsession of developing countries, notably China and India, where, in the latter half of the 20th-century industrialisation advanced at breakneck speed, lifting billions out of extreme poverty. Herein lies the great irony. As a result of climate change, these previously poverty-alleviating forces now look set to plunge those billions, those who have just extracted themselves from subsistence living, back to the brink. And such is the speed of the change and our reluctance to address, and in some cases even accept it; the return could be made in less than a generation. Although in areas better prepared, the West, too, stands to suffer greatly, the consequences of climate deterioration destined to afflict indiscriminately, ignorant of national borders. The last year provided a taste of things to come, as North America was subjected to droughts, hurricanes, and forest fires, of sizes and severity previously unknown, leaving parts of the continent ravaged. And there will be no let-up; the regularity of such events is set to increase. The only question is: how far will humanity let things slide? Browse our PhD listings for more opportunities GDP set to plummet In terms of GDP, the devastation that awaits is on a scale that exceeds what is currently economically conceivable. As David Foster Wells has so eloquently explained, the spectrum of growth with which we have any experience, and thus can realistically fathom, ‘stretches from contractions of about 15%, effects we study still in histories of the Depression, to growth about half as fast – about 7%’. Quite simply, today’s terminology and categories are not really capable of reflecting developments outside of these parameters. Unfortunately, outside of these parameters is exactly where we are heading. In one projection – based on the work of respected researchers Solomon Hsiang, Marshall Burke, and Edward Marshall – in which the terms of the Paris Agreement are fulfilled and warming is limited to 2.5-3C, global per capita output is reduced by 15-25% by 2100. For context, this is comparable to, and actually slightly higher than, what was experienced in the 1930s. The difference, however, is that this time around there’s no guarantee a recovery will even be possible. What in today’s economic terms is called a ‘trough’ could become the new economic baseline, the new norm. In fact, on our current course, we’ll be lucky to even get there: the global emissions trajectory, as it stands, has us comfortably missing the commitments made in Paris. Indeed, with climate-threatening leaders Trump and Bolsonaro presiding over two of the world’s largest polluters, the Paris agreement could soon be considered the high point of climate change consensus – no longer a realistic target, simply a nostalgic reminder of collaborative times gone by. The Great Dying The required transformation of energy infrastructure alone would require the mobilisation of people and resources never before seen in peacetime. Warming of 3C, 4C, 5C, or even worse, therefore, remain distinct possibilities and require contemplation – to warn us away from such paths if nothing else. According to the report cited above, 4 degrees, which lies ‘on the low end of the range of warming implied by our current trajectory’, is predicted to cut global output by more the 30%, far more than the Great Recession of 2008, which saw a reduction of 2%, and double that of the Great Depression. Foster-Wells has called this fate the ‘Great Dying’ – if reached things would continue to worsen inexorably. To grasp the enormity of what awaits, and to inform sensible future conduct, it’s helpful to perceive of our climate as a superstructure within which we operate: we are governed by its rules and forced to adapt to its conditions. When these conditions are degraded the consequential impact infiltrates every aspect of life, as every aspect exists within the structure. From the regulation of bacteria in our bodies and the air we breathe, to our ability to travel the planet unencumbered and access water, literally everything is at stake. The same holds true for our economies, both local and global. The warming of the globe, and with it, the natural disasters, flooding, and health crises it entails, will incur costs economies will struggle to absorb, many we are already beginning to see. Countries with a large share of GDP in the agriculture sector, as most developing countries do, will especially suffer, because of all industries agriculture has a particularly low resilience against rising temperature. A report published in Nature Communications in 2017 has predicted that as a result of droughts and water shortages, the U.S will see its annual crop yield decrease 40% by the end of the century. In a pattern typical of climate change, things are projected to be far worse closer to the equator. On our present path, and without huge technological advancement, India, sub-Saharan Africa, Brazil, and much of Southeast Asia face the devastation of their agriculture. The UN has predicted that, in turn, this widespread crop depletion will help create 1 billion climate refugees by 2050, placing further pressure on less-damaged agriculture elsewhere. Then there is flooding. None but the most modern infrastructure is built to withstand the type of relentless flooding that’s coming, and that in parts of the world we’ve already seen glimpses of. America and India are particularly vulnerable, having aggressively and rather carelessly developed their coastlines. In just a matter of years, luxury sea-facing apartment blocks and hotels in places like Miami Beach will soon become underwater relics, while densely populated metropolises like Mumbai, Chennai, and Kolkatta, home to tens of millions, will ‘face catastrophe’, as invading waters cause untold damage. By 2045 the real estate impact on New Jersey alone is predicted to exceed $25 billion. Across the world, flooding in March 2019 – just a single month – created $9 billion in economic losses, highlighting what analyst Michal Lörinc called ‘the continued vulnerabilities which exist in both developed and emerging markets’. Hurricanes, too, are being created with greater regularity and greater force, rising temperatures increasing their rainfall and wind speeds. Hurricane Florence, which hit the Carolinas in 2018, raged for almost 3 weeks and was estimated to have caused up to $50 billion worth of damage. Without intervention, the regularity of such events will grow, and there will come a time that our inaction will designate when there is simply not enough wealth, locally or globally, to cope. Rebuilding will become a constant state. Declining productivity Just as healthy productivity rates will be needed to mitigate the coming chaos, they are stagnating, and, unfortunately, predicted to fall further – this, too, a result of warming temperatures. Research, like that from the Institute of Atmospheric Physics, Chinese Academy of Sciences, has exposed the negative cognitive effects of direct heat, showing, with alarming precision, how unproductive humans are expected to become as the world warms. ‘When global warming reaches 1.5, 2, 3 and 4°C respectively, the average Work Productivity Loss (WPL) will be 9 (19), 12 (31), 22 (61) and 33 (94) days for developed (developing) countries. Countries in Southeast Asia in a 1.5°C-warming world would suffer the same loss as the developed countries would in a 4°C-warming world.’ With every rise in temperature, GDP suffers, and like compound interest, the effects increase over time. Evidently, the costs of acting on climate change are enormous. What’s also clear, though, is that the costs of not acting are far greater. Market logic can no longer be relied on; it shouldn’t be expected to benevolently act on our behalf. Instead, concerted, coordinated and cooperative intervention is needed. An uncertain future Given the global political landscape, this feels far-fetched. From those with the power to address climate breakdown, we’re accustomed to bluster and virtue signalling, that is, if its reality is even accepted. The main concern is always the next election, never the next generation. And so carbon continues to be emitted into the atmosphere at record rates. Even with imagery of climate degradation saturating global media, little seems to change. The West, in particular, has been guilty of a ‘thank god its not on my doorstep’ mentality. And yet, it is; it’s on everyone’s. Even to those apparently blind, this will soon become incontrovertible. As it is, economies across the world stand braced, many already under the strain of climate change. As costs continue to wrack up, as they will without action, some will buckle under the pressure; this we can be assured of. What follows is anyone’s guess. What we do know, though, and what history instructs us, is that finding out is a risky game indeed.
The history of economic growth, the kind to which we are now accustomed, is inseparably intertwined with the discovery, and then plunder, of fossil fuels. Some historians have even argued their unearthing was its main catalyst, relegating more popular theories of free trade and technological innovation. The argument is seductively simple, and although something of an exaggeration, usefully highlights the strong connection between the two – for in tandem, they radically altered the course of human civilisation.
Economic Development, Innovation and Growth (JEL O)
Agricultural and Environmental Economics (JEL Q)
In 2017, the Lancet Countdown on Health and Climate Change found that 153 billion working hours had been lost worldwide due to high temperatures, predominantly on farms, and that high temperatures were simultaneously affecting the ability of crops to grow. And Professor Paul Elkins of University College London argued in response to these findings that tackling climate change ‘is going to be a net benefit to humanity in monetary terms.’ Download the INOMICS Handbook! But economics hasn’t cottoned on. Most dominant economic theories work on the assumption that technology and progress can overcome any biological/ biophysical limitations the earth may have. This, of course, isn’t true; we are beginning to see some of the limitations of our unsustainable existence, the above being just a few examples. In 1966 economist Kenneth Boulding called this economic conception of the world the ‘cowboy’, that being a metaphor of the noble wanderer who roams the ‘illimitable plains’ of endless discoverable resources with no thought that they might, at some point, come to an end. Boulding said all the way back then that the problems our planet is facing are ‘not all in the future by any means’. Indeed, they are currently more visible than ever. But this apathy or disinterest with dealing with the problem of climate change isn’t limited to economics. A 2018 Gallup poll revealed that only 64% of Americans think climate change is caused by human activities, and of those only 45% believe it will be a serious threat in their lifetimes. In the Pacific countries and east Asia, only 37% believe climate change will harm them personally, and just 26% of people in the Middle East believe climate change is a problem that is harming people right now. Multiple techniques have been used to change attitudes, including showing the connections between climate change and air pollution and health problems, or to things like the aforementioned forest fires in the USA. Multiple techniques have been used to change attitudes, including showing the connections between climate change and air pollution and health problems, or to things like the aforementioned forest fires in the USA. A common tactic is to show people how important it is to take a personal responsibility for the problem. Unfortunately, this often causes a phenomenon called cognitive dissonance, which is a feeling of discomfort when a person’s beliefs are challenged by new evidence given to them. In the case of climate change, this actually causes people to turn away from the issue due to feelings of guilt, rather than work to combat it. Instead of giving people personal responsibility, a better method is to get people to believe climate change is a communal issue that requires action from the whole community, society, and world. However, a small but growing field of economics wants people to think about the environment in a different sense altogether. If questioned, would you be able to estimate the monetary value of the earth’s ecology? If this figure existed, would it make people stop and think a little harder about exactly what it is we’re destroying? Would it make people care more about the environment if they knew mistreating it would negatively impact the economy? These are questions ecological economics aims to answer. Cowboys and cosmonauts Ecological economics is, in part, a reaction to the traditional cowboy conception of the world. Boulding’s idea was to instead think of the world as a ‘spaceman economy, in which the earth has become a solitary spaceship, without unlimited reservoirs of anything’, and in which human beings must find their natural, sustainable state. In this metaphor, all we have is what is on our spaceship with us – and when that runs out, the money runs out, too. As Robert Costanza, a leading ecological economist, put it in his 1989 article ‘What is Ecological Economics?’, the discipline aims to ‘make economics more cognizant of ecological impacts’ and simultaneously ‘make ecology more sensitive to economic forces, incentives, and constraints’. Costanza reiterated what Boulding had said over twenty years before: ‘current economic paradigms… are all based on the underlying assumption of continuing and unlimited economic growth.’ To combat what Costanza saw as the ‘ignorance’ humans have of the world’s environmental and economic interdependence, he explored technology’s capacity to circumventthe limits of the environment. His conclusion? Technology can’t endlessly circumvent the environment. The limits exist, and economics needs to realise this, soon. Ecological economics argues that using only GDP as a metric (as many economic fields currently do) is unreliable because it doesn’t take into account the costs of things like pollution and deforestation; in its place, it argues for GPI, Genuine Progress Indicator. GPI uses the same data as GDP, but adds things like income gaps, poverty rates and environmental damage. By this judgment economic worth peaked per person in 1978 and we have actually become poorer due to our destruction of the environment. In this sense, the discipline bears similarities to the green and environmental movements that began gaining ground in the 1970s. Ecological economists recognise – and they argue that ‘standard’ economists often don’t realise this, or at least choose to ignore it – that growth cannot be endless. In an interview from 2010, Costanza noted that ‘in nature, things don’t grow forever’. Instead, organisms reach their natural adult size, and then they stop. But this doesn’t mean they stop improving. Organisms continue to develop even after they stop getting physically bigger – like an adult human that isn’t getting any taller, but continues to read books and go to the gym to get smarter and fitter. Constanza admits that the thought of the economy no longer growing is a terrifying one for regular economists, but argues that the economy stalling isn’t a bad thing. Rather, what is needed now is progression to a ‘steady state’, in which our society still improves, but our economy doesn’t get bigger. The revolution will be green In a nutshell, ecological economics attempts to show how human economies and natural ecologies are intrinsically linked and have evolved together through time. The field bridges the gap between economics and several other disciplines, including archaeology, history and anthropology. It wants to change the common understanding that human technology can overcome any boundaries the world throws at us by showing that this judgment is unsustainable and, essentially, wrong. But ecological economics is more than a call to action for economists to change the way they think about the world: it also tries to talk about the natural world in a way people can understand. In 1997, a paper came out that estimated the value of ‘ecosystem services’ – that is,the monetary value of the ecological systems that contribute to human civilisation – at $33 trillion per year. The GNP of the entire world at the time was around $18 trillion. Talking to people in terms of monetary figures helps them comprehend the worth of the environment and the scale of the problem. Money talks. Ecological economists have grasped that. What’s the solution to the forthcoming environmental disaster, then? Sustainable development and green policies, according to ecological economists. The International Society for Ecological Economics, for example, states its purpose as ‘developing a sustainable world.’ Its solutions to the current problems include research into environmental tax reform, how equity relates to sustainability, and how ecological and economic models can be integrated to protect biodiversity and the earth’s atmosphere. To this end, it publishes the latest cutting-edge research on topics such as clean development, transnational conservation projects, and the effects of deforestation in its journal. And it’s not the only one: there’s also the International Journal of Ecological Economics and Statistics, founded in India, which aims to link the discipline to a closer study of ecological statistics. But this isn’t just research for the sake of research – the field wants to change people’s attitude towards ecology, and genuinely influence policy. The International Society and these two journals have developed against the backdrop of a rapidly deteriorating environmental situation and a political sphere that doesn’t seem to care about the crisis we’re facing; yet at the same time, the green and environmental movements have never had more public support. With natural disasters abounding, Western countries dropping out of climate agreements, and nonsensical debates over the actual existence of climate change still being held, the field has an essential role in showing that the economy is fundamentally linked to the natural world we are rapidly destroying. As it becomes increasingly clear that environmental catastrophe is just round the corner, it’s time for economists – and politicians, and everyone else – to finally start paying attention.
In 2018, the World Meteorological Organization published its statement on the State of the Climate. The report showed that the 20 warmest years on record have occurred in the last 22 years. In the same year, the State of California’s Energy Commission published a report linking changing atmospheric conditions due to global warming as a direct cause of the devastating forest fires that swept through California, burning nearly 1.9 million acres’ of land and costing more than US$3.5 billion of damages.
How to post an Announcement with us To post your announcement, please follow the steps below: Create a free account. You can find the "Create Account" on the top right corner of our websites Login to your account Click on “Publish” on the top right hand corner of the website Choose the Announcement level and promotion type that you want Enter all the Announcement details. We recommend that you have all the details ready beforehand, in a word document. Preview and publish your announcement. See tips and tricks below Confirm your details and your Announcement will go online shortly after NOTE: New user accounts are subject to a quality check for the first post - this is typically completed within one working day. Top Tips & Tricks for Posting an Announcement 1) Schedule your announcement to be published in the future As general rule, in the posting form once you press the “Save” button your announcement will go live on the website. If you would like to have a little extra time to edit your announcement and get it approved by your team, we recommend scheduling it to go online at a convenient time in the future. While uploading the content of your announcement, your will find a field which allows you to choose the publishing date of your announcement, where you can set it to go live in a couple of days or even hours. 2) Classify your announcement using the best matching disciplines and type of opportunity On INOMICS we have 5 main categories of opportunities that you can promote: jobs, courses, study programs, funding options and events. Additionally, you can choose between 19 disciplines (JEL codes) in economics and social sciences. Our users are profiled according to their discipline and career stage. Therefore, the reach of your announcement depends on how well you classify it. For example, if you are offering a summer school in digital business and economics, the classification under courses (summer school) and disciplines (Business Economics - JEL M, Innovation & Growth - JEL O) will guarantee exposure correctly on INOMICS. 3) Upload an effective description of your offer The description of your offer should be concise and clear. In the description, you have a space in which to explain your job, study, event or funding offer or opportunity at your institution, or, you can explicitly invite readers to participate in your upcoming event. It is important to deliver enough information to our users so that there is just enough to catch their attention and motivate them, but not to overwhelm them with an unnecessarily long text. Further details can always be found on your website by clicking through, if our users are interested. Focus on what you are offering, important dates like the application deadlines and start dates, why they should apply, and what you expect in applicants. 4) Add a header image If you book a featured or premium announcement, you have the possibility to upload a header image. Header images are very prominent on your announcement page and in the listing/search result pages, so they offer an excellent space to include an eye-catching campus picture which leaves our users with a positive impression of your institution. Other customers use the header images to include branding information such as a slogan of the institution or mission of the program they are promoting. 5) Upload a quality logo The logo uploaded in your announcement is later used in the listing and search result pages, for the creation of mini banners, listing in our email alert and display in social media. In order to appear styled and visible, we recommend that you upload square logos with a minimum width of 300 pixels. In this way you ensure that the brand of your institution is carried neatly and legibly. 6) Use the image gallery If you book a standard, featured or premium announcement, you have the possibility to build a carousel of images into your page. This is an opportunity to display your campus, research and study facilities, team pictures and events, and other marketing pictures that you have available. Depending on the level of announcement, up to 10 pictures are allowed on the page. The maximum size of the pictures should be 2MB. Best performing pictures are rectangular, with a size of a 2:1 ratio. 7) Keep the title of your announcement short and relevant The title of your announcement will be displayed in different places on the website, therefore its relevance and length will help you to attract more users to your announcement. Long titles are cut after 80 characters in our search results, as well as in additional advertisements such as those in email alerts and mini-banners on the website. A maximum length of 80 characters including spaces is recommended to avoid distortions in the title of the announcement. 8) Include tracking links to better measure the results from your campaign The results of your campaign can be measured in terms of brand exposure, traffic delivered to your site and number of applicants. In order to make life easier and measure the effectiveness of your campaign quickly and easily, we recommend that you include tracking links. With a tracking link you can find the traffic delivered by INOMICS directly in your Google Analytics report. You can set up a campaign name, medium and source for us, so that you can easily track the number of sessions, users, and behaviour directly on your website. On the following link you can create a tracking URL to be used on your announcements: Campaign URL Builder 9) Include concrete calls to action (CTAs) in your announcement As we mentioned before, the main goal of your announcement is to motivate our users to enquire more about your opportunity and ultimately, apply. By suggesting concrete actions in the description of your announcement you will help catch readers' attention and drive them to your website or specific landing page. Each Announcement includes by default the possibility to include an "Apply Now" button and a “Visit Website" link, however you can add more actions in the description of your announcement. Suggested CTAs include: download a brochure, send an email to admissions, call a telephone number, visit the website, etc. 10) Add relevant tags to your announcement On INOMICS each piece of content includes tags. Tags are used to recommend relevant content to users and to identify content with a specific topic. Including accurate and concise tags will help you to make your announcement more relevant and visible to the right audience. Include tags related to the topics and disciplines of your offer, or add tags related to locations, relevant research areas or requirements for your desired applicants. 11) Use the Direct Applications / Apply Now Function By activating the field "Receive Direct Applications", an Apply Now button will be shown on your Announcement page. Interested candidates can submit their documents and a cover note directly on INOMICS. The applications and documents are saved conveniently in your INOMICS user account. You will be notified when their are new applications (maximum one notification per day) by email. If you need assistance posting your announcement, please feel free to contact us at info@inomics.com. We are also happy to set up, format and post your page online for you as part of our posting assistance service - you just need to provide us with a URL, a word or PDF document with the content of your announcement and we will create a preview announcement for you. This posting assistance costs an additional €75+vat per announcement.
Read our tips and tricks on how to maximise your announcement listings with us. We hope that this helps you to boost your recruitment and advertising campaigns on inomics.com and receive the best possible results. In this article we'll share with you, the Announcement publication process and our top 10 tips and tricks for posting an announcement.
The INOMICS Questionnaire: Fratzscher vs Rossi-Hansberg
Download the INOMICS Handbook! Marcel Fratzscher: What is your favorite place on earth? Esteban Rossi-Hansberg: My office: The thrill of having my own space to work and concentrate has never gone away since I got my first office at Stanford’s economics department in 2002. Perhaps the reason can be traced back to my PhD. Back then, Chicago Ph.D. students did not get their own desk. I wrote my dissertation in the cafeteria of the Business School. MF: Outside of economics, what occupation would you have if you could be absolutely anything? ERH: I would be an artist or a chef. I love the creativity and the sense of accomplishment. If you think about it, it is not that different from research in economics. There is a technical part to our work, but the most creative (and best) part involves coming up with useful and beautiful abstractions. MF: What is the virtue you appreciate the most? ERH: Smarts are always useful, but in my experience not that scarce; at least in our profession and at the level required for most endeavors in economics. For me, the most important quality is perseverance and the ability to work hard continuously over many years. MF: Your all-time favourite figure in economics? ERH: I have three favorites, Friedman, Becker and Lucas. In my view, this trio has defined and expanded the reach and methodological rigor of the field more than any other. MF: Your #1 economics blog? ERH: I am not an avid reader of blogs, but I like VoxEu. It is a good, fast way to stay connected with research on a number of issues not directly related to the topics I study. I also like that it is based on real research, not just opinions MF: Your ideal student? ERH: Independent, smart and with a lot of grit. MF: What should be done to address a gender bias in research in economics? ERH: Focus on ideas and their quality, not on who produces them. MF: What is the most misguided research agenda in economics? ERH: Reduced-form empirical studies of the overall economic impact of climate change are misguided. How can we aggregate and extrapolate over hundreds of years without relying on theories of the economic mechanisms of adaptation? MF: What is the most promising current research field or issue in economics? ERH: Quantitative spatial economics: The theory and quantification on this topic have evolved dramatically, and the tools are ready to be applied to a large variety of extremely important substantive issues. There are very few topics in economics where space is not important! MF: Where does economic research have the most influence on policy-making? ERH: Probably monetary economics: Inflation is under control almost everywhere because research helped understand the mechanisms that generated it. The reaction of monetary policy during the great recession was very much driven by existing research as well. MF: On what issues should policy listen more to economists? ERH: Local policy and local investments: Governments and international institutions spend fortunes developing infrastructure and promoting reforms that affect local economies without doing proper, stateof-the-art, evaluations. Urban and regional economic policy is much more influenced by architects and urban developers than by economists. This should change. Economists have good tools to improve spatial and urban policy as well as resource allocation and infrastructure across space. MF: What is your career advice to a young economics researcher? ERH: Try to be methodologically broad, specialize only on topics, never on research techniques. Thematic specialization can lead to more depth in your knowledge, methodological specialization will only put limits on your capabilities as a researcher. Header Image Credit: Marcel Fratzscher / DIW and Esteban Rossi-Hansberg (kindly provided)
Esteemed economist, Princeton Professor, and friend of INOMICS, Esteban Rossi-Hansberg, generously took time out of his busy schedule to take part in the second INOMICS Handbook Questionnaire. Opposite him, in his customary role of quizmaster, was Professor Marcel Fratzscher, president of the DIW Berlin, and one of Germany’s leading voices in macroeconomics. Keeping with tradition, and as a nod to the heavyweight reputations of those involved, we dubbed the encounter ‘Fratzscher v Rossi-Hansberg’. What played out proved illuminating and often personal, the dialogue shedding light on the inner workings of the mystery that is the ‘economist’s mind’. For anyone even loosely connected to economics the following conversation will make an interesting read.
How the Economics+ approach is changing the face of the discipline
A growing number of graduates from this program have ascended the ranks in many sectors, from banking and consultancy, to NGOs and International Development. The Master’s is distinguished not only by its impressive academic staff but also by its adoption of the Economics+ approach to teaching. To find out more, INOMICS sat down with Economics Lecturer and Researcher at Radboud, Charan van Krevel, for a chat about the MSc in Economics, his time as a student, and his position now as part of the Economics’ faculty at this great university. Much is made of the Economics+ approach that underpins the teaching of the Master’s program. How does it differ from more traditional ways of teaching economics? Traditionally taught economics approaches economic decision-making from a solely rational perspective. People are assumed to be optimizers: creatures capable of processing all available information when confronted with a choice, and who act simply to maximize their own happiness. In reality, we are constrained by the physiology of our brains and, most importantly, by our environment. Therefore Economics+ integrates insights from psychology, law, and sociology into its methodology, to better understand the occasionally counter-intuitive decisions people make. We do not negate the traditional perspective entirely as there remains much to be gained from its study; rather, we shift the emphasis toward a holistic approach to human decision-making. How did the Economics+ approach develop? Economics+ has actually been the main characteristic of our Bachelor’s and Master’s programs for a long time. Even before the crisis in 2008—which revealed the dangers of trusting any economic model that had the “optimizing individual” at its base—we placed great emphasis on the context in which economic processes happen. In the short time since its inception, Economics+ has really gained in popularity, and not just in the Netherlands. This development, I believe, owes a lot to the teaching and research of Economics at the Radboud University. What advantages does the Economics+ approach bring to studying, work and life generally? First off, I should say that it’s not required for students to have prior experience of Economics+; in fact, most do not. Introductory courses like Pluralisms in Economics will bring students up to speed. With respect to the advantages it offers, we believe Economics+ helps foster a more realistic and nuanced approach to looking at the world. It challenges students to constantly look beyond their pre-existing conceptual horizons—a process that is designed to produce critical, flexible and adaptive problem solvers. These skills, when developed correctly, are crucial in devising policies, and are something that both companies and governments have expressed admiration for when describing our alumni. We welcome prospective students who are motivated, eager to learn, and looking to expand their horizons. We also believe that this critical attitude and broad perspective that Economics+ instils is transferred to the way we perceive and engage with society. It enables us to better understand the viewpoints of others—crucial for consensus building—and prevents us from developing tunnel vision. Ultimately, these skills help us engage with each other more constructively in the political, economic, and social arenas. I am confident that exemplars of Economics+ will contribute to building bridges. Where do graduates from the MSc in Economics typically end up? What are the career prospects? The career prospects are promising! 95% of our graduates find a job within 6 months of graduation, and 35% of graduates already have a job even before graduating. Usually, they choose large enterprises, with 100+ or 1000+ employees, but some also prefer smaller companies. The type of occupation they pursue depends a lot on their specialization. Still, a large portion of our graduates decide to go into consultancy, whether it is financial or accounting, or they go into banking. Some also opt for a career in international development, at an NGO or a government. Of course, some graduates, like me, stay in academia to teach or do research. How much one-on-one time should prospective students expect while studying the MSc in Economics? One-on-one time with lecturers is either built into a course itself, or is optional. For instance, when you write your master’s thesis you will have a supervisor, available to you personally, with one-on-one time. Additionally, most lecturers have an open door policy if students wish to visit them or discuss something one-on-one. Our small scale teaching strategy is not only about built-in one-on-one time, but also relies a lot on student initiative and lecturer approachability. Does the department support students in finding internships? And are there existing links with other institutions that help facilitate this process? We find it important that students have the freedom to choose an internship if they so wish. There are several organizations with ties to Radboud that have internship programs for students. Some of these organizations are student-led, while others are independent companies. Either way, we give students the freedom do an internship by awarding credits for their completion. Your students have ranked you highly on their student evaluations. What exactly about your teaching style do you think led to this? Although I can’t speak for my students, I can describe my teaching philosophy. For students to learn something I have to present information in a way that makes them want to learn it. So often I use humour to explain a dull theoretical concept; other times I provoke them by arguing an unpopular opinion and challenging them to prove me wrong, rewarding them when they succeed. Ultimately, I always want to engage with my students on a personal level. In trying to do so, I often use examples from my personal life. I tell my students that by the end of the course, I want to know all their names. Content-wise, I always keep in mind why I find something interesting myself, and try to inspire my students by exhibiting my sincere toddler-like curiosity. Being alumni of the Economics+ program and now a lecturer at the faculty what would you say the program has contributed to your professional success? Why did you choose the Nijmegen School of Management at Radboud University for your studies? And if you had to choose again, would you make the same choice? I owe a lot of my professional success to the program and being granted the opportunity to join the lecturers who inspired me as a student has been an absolute privilege. I remember when I first enrolled in the Economics Bachelor’s when I was a teenager. I decided to study economics because it was by far my favourite subject in high school and I wanted to pursue a career at a financial corporation, perhaps as an accountant. But somewhere along the way my curiosity for science and economic thought drove me towards academia. My performance in the Master’s distinguished me from my fellow students and my experience as a lecturer gave me the chance to pursue my dream of becoming a researcher too. The study climate in Nijmegen has definitely been conducive to my relative success. I got to know my professors personally while I was a student, and they encouraged me to follow my ambition, something that was hugely motivating. Moreover, the city of Nijmegen itself has always been the most comfortable place to live. I often travel the world, but there’s no place like Nijmegen. Despite some bumps I’ve experienced along the road, I wouldn’t have wanted it any other way. And finally, where is the best place to relax for economics students at Radboud University? That’s tricky, because Radboud has so much to offer. Personally, I like going on serene walks in one of the many parks that border the campus, or the huge forest that’s close by. In my student days I often turned to the vibrant city centre or one of the beaches. Nijmegen is not a coastal city, but we have several lakes and rivers that have fantastic beaches on their banks. There are also some concert venues in- and outside the city centre that I still frequent, in addition to the array of other nightlife options.
Situated in the oldest city of the Netherlands, Nijmegen, Radboud University has firmly established itself as one of the country’s most reputable institutions of higher education. Offering programmes across the academic spectrum, its MSc in Economics, in particular, is attracting students from all over the world.
Non-Profit Sector: Job Options for an Economist
Check out our economics job listings Governmental jobs: state and local One of the biggest employers of economics graduates are governments, both state or local. Governments hire economists at all levels to help shape policy, analyse data, and make predictions. Skills required of this line of work tend to include statistical expertise, modelling, data management, data entry and research assistance. The advantage of these jobs is that they are often both stable and reliable, meaning you'll have great job security and likely have good benefits like vacation time and pension payments too. In our age of high-stress and over-time, these bonuses should not be overlooked! International agencies International organisations, specifically international nongovernmental organizations (INGOs) and non-governmental organizations (NGOs), are also big employers of economists. INGOs, like mission-driven organisations the Red Cross and Médecins Sans Frontières, and NGOs, like country-specific organisations the Danish Refugee Council and the Bangladesh Rural Advancement Committee, are all in constant need of economists. The work offered at these organisations is best suited to those who are driven by social causes, and ideally who have a specific passion for the mission of the organisation. On the downside, the work can often be less well paid and less stable than in other fields. That said, the work is among the most worthy out there. Economic development organisations These organisations work toward the economic development of specific areas, cities, or regions. Counted among their ranks are the Arab Forum for Environment and Development and the Alaska Native Arts Foundation. Essentially, they work to influence policy and promote economic development in any given area. The jobs offered in this sector are suited to those with business skills and financial acumen, but also a commitment to a particular region; its local politics, arts, and culture. Union organisation Another area in which economics graduates can find work is in trade union organisations. Trade unions aim to improve labour relations and worker safety and benefits. They are essential in any capitalist society for protecting workers from exploitation. For those with an understanding of politics, seeking to affect change in complex structures, union work can be incredibly rewarding and can make real improvements to the lives of the people involved. Unions can represent both a particular group of skilled workers (such as nurses) or a whole industry of people (such as healthcare unions). Environmental and sustainability roles A growing area of employment for economists is the environmental and sustainability sectors. When an alternative energy company, or initiative, wants to promote the use of their technology over others, they usually employ a team of economists to demonstrate the long-term savings that their technology could bring about. This could be you! As governments are increasingly making steps towards sustainability, more and more funding is being made available for renewables, meaning this sector is growing, and growing fast. As a consequence, there are plenty of job opportunities. City planning and housing organisations The final areas may not be glamorous but are extremely important to people's quality of life - urban planning and housing organisations. Particularly in large cities, the pressures of gentrification and rising rents have led to wide-spread housing shortages. Housing organisations attempt to address this issue by promoting policies like rent caps, by helping tenants who are facing illegal eviction by their landlords, and by arguing for an increase in rent-controlled housing. These organisations are often small and not always very well funded. They do, however, make a direct impact on the habitability of the areas in which they work.
You know that there are a ton of career prospects open to someone who has studied economics, spanning from academia and the finance industry, all the way to management consulting. A big advantage of studying economics is that it gives you a skill set which is applicable and transferrable to many different fields. One particular area of work open to economists is the non-profit sector. Many are drawn to this sector for social reasons; the desire to make a positive impact on the world. It is a highly admirable area to work in, and something that we at INOMICS massively endorse! So, what kind of non-profit jobs are actually available to economists? Here are our suggestions that may be applicable to you.
Urban, Rural and Transportation Economics (JEL R)
Check out our economics job listings Couching reporting in such hyperbolic terms is nothing new, characterising, as it does, the bulk of mainstream print and broadcast media. Click bait culture has ensured it’s a profitable ploy that makes sound business sense. Its utility in helping society navigate the effects of automation - the tumultuous nature of which is already being felt - is harder to reason. Instead, the incessant deployment of the utopia/dystopia dichotomy seems to have helped foster inertia - a worldwide paralysis of inaction. Big changes are afoot and as The Economist has said 'no one is ready’. The majority of political discussion on the topic offers little in the way of reassurance. Much of the right appears to have taken its traditional recourse in moments of concern: invoking the ‘magic of the market’. An untrammelled market will balance things out they promise, trickle-down economics this, deregulate that. Such rhetoric provides little comfort, particularly to those who have already lost their jobs. The left, on the other hand, has been strangely quiet on the issue, some factions believing fears of automation are being mobilised as a distraction from more pressing issues like the dismantling of the welfare state. In all likelihood, it will require a large and collective political effort to avoid the most dislocating effects of automation. And the beginnings of such a project are currently nowhere to be seen. What's in store? What exactly should they be preparing for? Some say we’ve been here before, and should, therefore, look to the past for guidance. Societies have endured the industrial and digital revolutions, both of which prompted concern over the disruptive effects they would have on the job market. And yet, as they transpired, neither caused the social crisis of extreme mass unemployment many predicted. Instead, jobless rates have continued to rise and fall with the business cycle. The signs, however, point to this wave of automation being different to previous: both faster and more encompassing. Whereas in the past the jobs automated tended to be either manual jobs - prior to the industrial revolution working in agriculture and then later standing on an assembly line - or very narrow computational work calculating numbers, technology is now beginning to displace jobs requiring intellectual or cognitive capability. Learning machines are already making decisions and solving problems quicker and with fewer mistakes than humans, meaning typical white-collar work like quantitative analysis and report creation, particularly when repetitive, are becoming the domain of the machines. Office work, as it’s currently known, is on the verge of being consigned to history. Ultimately, the proportion of work susceptible to automation is getting larger and larger, and no sector is safeguarded from infiltration. Job loss, job change The common retort at this point is that new jobs will be created. And this, of course, is true; new jobs will arise, some presumably that we currently are unable to even fathom. What we don’t know is how many, and of what kind. Because this wave of automation is expected to permeate every corner of the economy, there is a concern the number of jobs created will not offset the number lost. Quite how large the discrepancy will be is unclear. What is certain is that the job market will become increasingly unforgiving. Historian Yuval Noah Harari is recommending that workers of tomorrow should expect at least a handful of occupation changes in their lifetime, such is the changing face of the economy. This is a big deal. For the majority, enforced career change is a radical upheaval, often involving a troubling mix of emotional stress and financial instability. A decade ago, to experience it once was to be considered unlucky. For the coming generation, to experience it twice will likely be thought remarkably fortuitous. Smoothing this transition, if at all possible, will require a transformation of educational systems. In their current form most do little to prepare people, skills-wise or emotionally, for a future defined by change. Soon, too, the ability to actually switch careers may come to be considered a privilege, as when a job is automated and a new one created, there is no guarantee that the newly unemployed person will have the skills required of the new job. What happens then? To quote Harari, 'if you think about a 40-year-old unemployed textile worker in Bangladesh, he or she just doesn't have the skills to design virtual worlds.' And still, the A.I revolution is just a blip on the political radar. Much of the American political class, for instance, seem more wary of Mexicans taking jobs than computers – and thus, with priorities misaligned, the requisite preparation is not being made. Governmental provision of lifelong education, accessible to all and available at any time, could be one intervention that helps stave off the creation of a class of people unneeded by the economy, and potentially deemed surplus to requirements. Indeed, if that scenario did come to pass, a large portion of humanity’s fate would rest in the hands of the powerful. And relying on their benevolence is a risky game. It's all a bit pointless While some jobs created may be inaccessible to many, a large portion may also simply be undesirable. It has been argued that the productivity benefits of automation we are experiencing, instead of leading to a shorter working week, as predicted by John Maynard Keynes in 1930, have instead created an array of pointless jobs, the existence of which cannot even be justified by those who do them. These roles often exist to: bolster the egos of employers, for instance, assistants; to work aggressively on their behalf, such as lobbyists and corporate lawyers; and to ameliorate preventable problems, like programmers that repair botched code. Anthropologist David Graeber has written extensively on this, citing studies that reveal the alarming extent to which people are unsatisfied with their work. In a culture that strongly associates work with self-worth, this is profoundly damaging. And as automation ramps up, his fear, shared by many, is that this trend will continue and the psychological suffering will be widespread. With growing regularity, universal basic income (UBI) is being touted as a potential remedy to both unemployment and the proliferation of ‘pointless’ jobs. Historian Rutger Bergman, for instance, has come to prominence riding the back the UBI wave. Its experimental provision has been recorded as ameliorating the damaging psychological effects of joblessness, while providing its recipients with the freedom to choose jobs (if they exist) they value, rather than being rushed into one they don’t. Again, though, in most quarters UBI is still considered a radical idea, and would require a strong political will for its implementation. For now, at least, this remains some way off. Inequality and unaccountable power The trend towards extreme inequality, as exists across the Western world, also stands to hypercharge the potential problems caused by automation. If left unaddressed, the problem will not be the robots themselves, but rather those who own them. Labour-saving technology is often expensive - precluding its purchase by just anybody - and affords its owner great power. From a financial perspective, once invested in, automated elements can significantly reduce costs and increase the efficiency of a company such that rival enterprises are simply run out of business - ask a record shop owner what they think of Amazon. Through this development, the means of production, already owned, relatively speaking, by a tiny minority, will concentrate into fewer and fewer hands. In a world of diminishing resources, this could prove particularly dangerous. To instead ensure the spoils are at least somewhat shared, it will be incumbent on politicians to regulate, both nationally and internationally, against this, probably through the enforced democratisation of businesses and the breaking up of the biggest companies. Given the influence big business already exerts over the democratic process, through campaign funding, lobbying, etc., this will likely be fraught with difficulty. Without intervention, global power could continue to tip away from governments towards businesses, specifically tech companies, a transition that could make the might of today’s behemoths, Google and Facebook, look insignificant; think Dave Eggers’ dystopian novel The Circle. Action is needed Of course, the issues outlined above represent just a few automation has, or probably will, throw our way. There are, no doubt, many more in store, some that may come in recognisable form, and others that will likely arrive abruptly, without warning, and challenge the conceptual foundations on which we live. What is imperative, therefore (and yet remains conspicuously absent) is that we consider, on a political level particularly, these potential changes and prepare for them as best we can. The lessons are there: the industrial revolution wreaked untold damage on the neediest, and protective reforms only arrived after many lives had been ruined. We must use this as a guide to ensure society pre-empts a repeat of such unnecessary hardship. If ignored, automation, combined with the threat of climate deterioration and the inevitable competition for space and resources, has the unprecedented power to take us to any number of unimaginably dark places. It need not, or rather, it should not be that way - a brighter future can be built and is still within our grasp. It just requires action.
Automation will transform our world; there is no doubt about it. Quite how, though, is highly contested – whether optimist or pessimist, there are predictions to match every predilection. Newspapers alternately run articles speculating a work-free, post-capitalist future filled with armchair philosophising, with forecasts of a world ravaged by inequality in which robots tend to the mega-rich, and everyone else is cast onto the scrap heap to contemplate what-on-earth went wrong. Little, it appears, exists in the in-between.
2019 European Elections Threaten to Bring the EU to Standstill
For these reasons, the upcoming elections hold great significance, and in terms of the EU going forward, could yet be defining. The centre ground across much of Europe has been vacated, no longer thought equipped to deal with the problems the continent faces, and populism from both the left and right has rushed to fill the political void. These changes will be reflected in the results of the elections, quite in what form, though, remains to be seen. What could such changes spell for EU politics? And should we be worried? Here we take a look at the paths down which the union may potentially turn, and consider the immediate future of the biggest trading bloc the world has ever seen. The complexion of Parliament The vote - scheduled for 23-26 May – will dictate which 751 MEPs sit in the European Parliament (EP). In its current constellation, the European People’s Party (EPP) representing the centre-right, and Progressive Alliance of Socialists and Democrats (S&D), representing the centre-left, form a majority, together making up 54% of the assembly’s seats. This has been hugely beneficial in terms of creating law. Owing to the cooperation of the groupings, the mechanics of EU politics, notoriously both slow and disjointed, have been lubricated, and through negotiation and compromise the last 5 years has seen a steady flow of legislation passed. However, if national politics and polls are anything to go by, this looks sets to change, and radically. The EPP, for instance, looks set to be punished at the polls. Since 2012, centre-right parties have lost popularity across the continent - a trend encapsulated by the Sarkozy induced capitulation of Les Republican in France. More recently, the bloc has also suffered from disunity, unable to agree on how best to deal with a Hungarian government intent on dismantling democratic checks and balances. The wedge issue continues to disrupt the group's cohesion, and the Hungarians remain controversially suspended. Across the floor, the S&D isn’t expected to fare much better. Since the financial crash, its member parties have seen their domestic support slide. In fact, social democracy across Europe looks moribund. German, Dutch, and Italian centre-left parties, in particular, have all had their share of the vote decimated, and there is little sign of the tide changing. Only in Portugal, and perhaps to a lesser degree Spain, is there anything resembling social-democratic revival. It looks, then, as though big change is dawning. Next month we could potentially be looking at an unrecognisable European Parliament, fragmented and divided between integrationists and nationalists, Europhiles and Eurosceptics, and right and left wingers. But could this mean for actual legislation? The effects on legislation Well, such an impasse, as some observers are predicting, would almost certainly make the already difficult process of passing legalisation even trickier. While this might detract from the parliament’s legislative efficiency, a more 'open-to-all' decision-making process may have a positive effect on public interest in democracy at the EU level. However, if populist parties gain enough power to block crucial decisions, as its perfectly plausible they may, all the other parties will have to pull together to keep the EU functioning - and there is no guarantee that will be feasible. In such a scenario, movement on issues like migration and Eurozone reform - likely to be centre-stage during campaigning - would almost certainly stall. For Emmanuel Macron this development, this potential legislative logjam, would be especially frustrating. The French President had made integrationist reform a priority of his; a commitment that has taken on additional personal significance because of the problems he is experiencing at home. Throughout his presidency he has been especially vocal about the need for reform of the Eurozone, suggesting that Europe should harmonise its tax policies and establish a minimum wage in each country. Italy’s far-right Lega party - projected to increase its number of seats by around 20 - is expected to lead a serious challenge to these proposals, and have already shown their disdain for EU prescriptions when they agreed, with their Five Star Movement partners, to a sharp increase in domestic public spending. This flew in the face of repeated admonishments from the EU that Italy must rein in its public spending amid fears it could trigger a debt crisis. Other mooted proposals for further EU integration include the creation of an EU Finance Minister, a joint Eurozone budget, and the establishment of a body tasked with overseeing bloc-wide economic policy. With a larger Eurosceptic faction in parliament these, too, are likely to be kicked into the long grass. Hungarian Premier and populist stalwart Viktor Orban has disparagingly likened such calls to an attempt to build a ‘liberal empire’, and instead has talked up a Europe based ‘strong nation states’ and ‘Christian culture’. To achieve this he believes that migration must be better controlled. This leads us to the area where, besides merely stifling policy, right-wing parties may have the power to seriously influence policy agenda. Although diverging on multiple issues, there is a consensus among them for stronger collective border controls and the militarization of borders. Also discussed has been a possible expansion of policing operations across North Africa, aimed at blocking African migration routes to Europe - the nationalist right has long favoured military solutions to social problems. Post May elections Evidently, an influx of EU-phobic, right-wing MEPs would make the tone of parliamentary debate harsher and legislation harder to pass. At the same time, it could also set the stage for mainstream MEPs to speak out more stridently in defence of European values and the European project more generally; an activity the Brexit remain campaign conspicuously neglected. Routinely, we fail to recognise all that the EU has brought us in its short history – workers rights, environmental protections, lasting peace - too often these are taken for granted. It really wasn't so long ago that none were guaranteed. If we truly are about to enter a battle for the continent’s future, progressives among us better prepare a positive, aspirational vision. And given the false sense of security that seems to have descended, a gentle reminder of the EU’s past achievements could make for a useful start.
With the European elections just two weeks away the EU’s future is looking far from certain - the union is beset by crises and the resolve of its member states is being tested like never before. Much has changed since Europeans last took to the polls: Ukraine had its borders forcibly redrawn when an increasingly hawkish Russia invaded and annexed Crimea; global drought, poverty and violence drove record numbers of refugees to the shores of the Mediterranean; and China has continued its march as a formidable economic and political force. There has also been the small matter of Brexit and the emergence of a populist movement that has made electoral gains across the continent. The current moment, evidently, is one of flux, and the full implications of the transforming political landscape are still to be fully understood.
Resources for economics students to learn statistics
However, if your background is more in social sciences than in mathematics, statistics can be a challenging subject because it is unfamiliar. Not only are there new concepts and terms to learn, but also the quantitative approach of mathematics differs from the argumentative approach of most social science subjects. Not to mention the assignments, which are likely in the form of short answer questions and tasks rather than essays or longer form answers. Browse our program listings for more opportunities If you're an economics student and are struggling with statistics, however, you don't need to despair! In addition to the statistics courses that will almost certainly be a part of your studies, there are many more resources out there which can help you learn. In this article, we'll go through some of the different resources that are available to help you learn statistics. Websites When there is a particular topic you need to understand or a specific technique that you want to use, then you can quickly find information online. If you just need a formula or an explanation of a term, then Wikipedia can be surprisingly helpful, as some of their statistics pages are quite a high level. But for more in-depth knowledge, then you want a speciality statistics site. Blogs are also a useful source of knowledge. One useful site is Discovering Statistics, which is the site run by British professor Andy Field. It has all of the information on statistics that an average undergraduate would need, and topics are explained in a funny and easy to read way. The big advantage of this site is that it is written in plain English, with no jargon or difficult to understand terminology. If you're more of a words person than a mathematics person, then this site will suit you well. Another great site is Stat Trek. This site has tutorials, tools, and tables as well as information on statistics. It is aimed at advanced high school students, but will cover most of what undergraduate students need to know as well. Doing tutorials that let you work a problem through from the beginning to the end is an excellent way to build your confidence at working with statistics. Finally, Simply Statistics is a good resource for more advanced students. This site has a blog with thoughtful blog posts about data science plus interviews, information on conferences, and links to courses at online learning institutions like Coursera or courses hosted independently by other academics. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Econometrics, Statistics and Quantitative Methods (JEL C)</11an> Podcasts Something to remember is that learning statistics isn't only about memorising equations or specific statistical terms. It also requires a broad understanding of mathematics, probability, and numerical accuracy. In order to build your broader knowledge, you can turn to resources like podcasts. Most podcasts are more fun and casual than textbooks, but that doesn't mean they aren't useful learning tools. Plus you can listen to them while you travel or while you're doing jobs around the house, allowing you to learn in this downtime. One of the most popular statistics podcasts is More or Less: Behind the Stats from the BBC. This podcast digs into a statistics topic each episode, such as recent episodes on vaccines and herd immunity, assessing the value of foreign aid, and how to calculate mortality following a natural disaster. The podcast Partially Derivative ended in 2017, but there is still a big archive of episodes available. This podcast covers the “data of everything” with a specific interest in computing, and looks at the data related to topics like AI, deep learning, and bots. Finally, a useful podcast hosted by two data scientists is Not So Standard Deviations. They discuss the latest news in the field of data science and dive in depth on topics like the use of statistics program R, books in the field, and specific examples of topics relevant to statistics. A recent series on the podcast has been a chapter by chapter discussion of the book Design Thinking by Nigel Cross. Online Courses If you want more in-depth help with statistics, such as learning a topic before your semester starts or catching up on something important that you missed in your lectures while you were sick, then you can try an online course. There are lots of free online courses available which might include video lectures, slides, exercises, and more to teach you a topic. Sometimes the course materials are available for you to work through at your own pace, but often the materials will form part of a course which you take over a number of weeks. While online courses can't offer the direct teaching and classroom environment of an in-person course, they can get you up to speed on the essentials of a topic to help boost your confidence and get you over a statistics hump. We have a full article with 10 free online courses in statistics, but we'll break down some of the best here as well. Intro to Statistics from Stanford University and Udacity. A course that lasts 8 weeks in total and is aimed at students who have no university experience with statistics at all. The perfect course for new undergraduates who are worried about the statistics component of their course and want to prepare in advance. Statistics: The Science of Decisions from San Jose State University and Udacity. This self-paced course typically runs for around 4 months, depending on how fast you work through the material. This is a more advanced course, suited for an undergraduate who has already completed an introductory statistics course. The background required for this course is a basic understanding of proportions (fractions, decimals, and percentages), negative numbers, basic algebra (solving equations), and exponents and square roots. Statistical Thinking for Data Science and Analytics from Columbia University and EDX. This course takes 7 – 10 hours per week and runs for 5 weeks, aiming to teach the principles of statistics as applied to data science. It is an introductory course for no knowledge of statistics is required to start. Learning from Data from Caltech. This is another self-guided course, so lectures and homework are made available and you work through them at your own pace. The course teaches an introduction to machine learning by focusing on the application of algorithms and applications to big data. Because it is more specialised than the other courses, this would be a great choice for an economics student who is interested in getting into data science but wants to get some experience in the topic before deciding whether to take a full in-person course. General interest books As well as textbooks, you can also learn about statistics from more general interest books which are geared towards the public. Obviously, these books will not have the same depth or detail as an academic text, but they are quick and fun to read and help broaden your understanding. If you have a holiday coming up or a bit of free time and you want to learn while also enjoying yourself, try out some of these books: Moneyball: The Art of Winning an Unfair Game by Michael Lewis is the book which the famous movie about statistics and baseball was based on. It tells the true story of a struggling baseball team who turn to a statistician to help them select new players and to improve their team. These events had a huge impact on how modern sports operate, and the book serves as an example of the power of statistics when put into practice. Outliers: The Story of Success by Malcolm Gladwell is another famous book which gained a huge public following. It describes the factors that makeup success in various fields, and as a part of this it covers a lot of material about probability, statistics, and economics. It's not a serious academic text but it's a fun and easy read. Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D. Levitt & Stephen J. Dubner is a book which aims to make economics exciting. By looking at topics in pop culture, it teaches readers about the essential principles of economics, including statistics. The authors find fun and quirky examples to make their lessons engaging and easy to read. Looking for a graduate program to continue your studies? Check out our program listings.
A subject that many new economics students – and some older economics students too – struggle with is statistics. Statistics are an essential tool for economics, allowing data analysis and modelling to be accurate and mathematically correct. More broadly, statistics are of great importance in all of our daily lives.
Econometrics, Statistics and Quantitative Methods (JEL C)
Also, as a reader it's useful to know about the most popular and prestigious journals, so that you can more easily locate information which you need when doing literature reviews. For this reason, today we're sharing a list of the top 10 journals in the field of economics, so you can see at a glance which are the big-name journals which you should be aware of. Looking for a job in economics? Check out our job listings. 1. The Quarterly Journal of Economics, Oxford University Press This is the oldest English language professional journal in the field of economics, and one of the most respected. It covers all aspects of the field, but has a specialisation in microtheory and macroeconomics – both empirical and theoretical work. 2. Journal of Political Economy, University of Chicago Press Another long-standing journal, the Journal of Political Economy was first published in 1892 and has since covered both theoretical and empirical work in economics which could have long-term impact on the state of the field. Its specialisations include monetary theory, fiscal policy, labor economics, development, micro and macroeconomic theory, international trade and finance, industrial organization, and social economics. 3. Econometrica, Econometric Society With a specialisation in econometrics, this journal has been established since 1933. It aims to attract high-quality research through awarding of the Frisch Medal every two years, which recognises outstanding research published in the journal. 4. American Economic Review, American Economic Association Established in 1911, this is another well-established and well-respected journal in the field of economics. Once a year, in May, an issue is dedicated to presenting proceedings and papers from the annual meeting of the American Economic Association. 5. Journal of Finance, American Finance Association For the related field of finance, the Journal of Finance is the top place to publish, along with the Review of Financial Studies and the Journal of Financial Economics. 6. Journal of Monetary Economics, Elsevier For those researching in macroeconomics and monetary economics, the Journal of Monetary Economics is an essential read. Covering empirical, methodological, and theoretical work, recent topics have included banking, credit and financial markets, behavioral macroeconomics, business cycle analysis, consumption, labor supply, and so on. 7. Journal of Economic Growth, Springer With a focus on economic growth and dynamic macroeconomics, this relatively new journal established in 1996 covers all aspects of growth, including growth models, income distribution, human capital, fertility, trade, development, migration, and money. 8. Review of Economic Studies, Oxford University Press Another long-established journal, RESTUD as it is known is a must-read for theoretical and applied economics. It was founded with the specific intent to publish work from young and up-and-coming economics researchers; a mission which it continues to this day. 9. The Review of Economics and Statistics, MIT Press In the field of quantitative economics, the Review of Economics and Statistics is the gold standard. The bringing together of expertise from the fields of statistics and economics has resulted in hugely influential models, and this journal covers the most important aspects of this approach. 10. Journal of Econometrics, Elsevier Another influential journal in the area of econometrics is the Journal of Econometrics, established in 1973. The focus of the journal is on econometrics methodologies as well as the way in which these methodologies can be applied to substantive areas of economics. With these ten journals, you should be well up to date on all the latest happenings in the field of economics.
All academics know how important it is to get your work published. The journal which you publish your work in can have a big effect on how it is perceived and on how many people it reaches, so it's important to make the right decision when submitting your work for publication. You want to make sure that you submit to a journal which has a strong professional reputation for your work to be taken seriously.
The different types of fellowships available for postdocs
If you want to start a postdoc then you need to know about the different types of postdoc positions that are available. Typically, a postdoc can be paid a salary from a variety of sources: either paid directly by the PI from their research budget, or from being awarded a fellowship by an outside funding body. Getting a fellowship is generally considered a better option than being employed directly by a PI, as with a fellowship if you decide to move to a new institution or change to a different research topic you can keep the fellowship funding with you. There are a number of different types of fellowship that are available for postdocs, so if you are looking to apply for a fellowship then you will need to know what options are open to you. In this article, we'll talk about the different types of fellowship available to postdocs. Browse our postdoc job listings for more opportunities Browse our funding & scholarship listings Teaching fellowships A common way for postdocs to earn a salary is through a teaching fellowship. This means that the postdoc will have a regular teaching load for undergraduate, masters, or PhD students and will usually be responsible for lesson planning, setting and marking assessments, and supporting students on top of their regular teaching and research duties. The exact course load that a postdoc is required to teach will vary between fellowships, but it will often be around about equivalent to a half time teaching position. The advantage of a teaching fellowship is the direct, hands-on experience of teaching that it provides. In some countries, such as the U.S., having teaching experience is extremely important for getting a professorship position, so it makes sense to get as much practice in teaching as possible. In addition, some people find teaching less experienced students and conveying an interest in the subject to them to be extremely rewarding. The downside of a teaching fellowship is that it involves a whole extra job on top of your research duties, which can often end up being pushed aside when you are busy with teaching. In some countries in Europe, teaching is considered less prestigious than pure research and so the preference would be against teaching fellowships. If you do take up a teaching fellowship, be prepared to juggle responsibilities to students as well as to your own research. Individual fellowships Arguably the most desirable form of fellowship, an individual fellowship is awarded to you as a postdoctoral researcher in order to pursue the projects that you want. Even if you decide to move to a new institution or start a new project, you can continue to use the fellowship money for your salary and research expenses as it is tied to you personally, not to a position at an institution or specific research topic. This means that if you have an individual fellowship, you have quite some leverage over where you work and what you research. Most institutions are happy to take on a postdoc who comes with their own funding, so you get to choose which institution and department you want to work at. Individual fellowships will usually be awarded for a period of two to five years and will cover costs like your salary, research expenses, and sometimes even pay for supporting positions such as a PhD student or research assistant. Within the category of individual fellowships, there are a variety of sources of funding that we will consider next: Government funding One of the biggest sources of funding in most fields is government research organisations. Bodies like the National Science Foundation in the U.S., the Deutsche Forschungsgemeinschaft in Germany, or the Medical Research Council in the UK provide funding to researchers at all stages of their careers including postdoctoral. Some research topics attract more government funding than others, as governments tend to fund more projects which will have a direct and money-saving impact on governmental tasks in the future. However, often your project may be able to fit in more than one topic area, which you can use to your advantage. In the UK, for example, a psychology project would usually fall under the Economic and Social Research Council, but if the project has a clinical focus then it could also go under the Medical Research Council which generally has more generous funding available. Look into the specifics of which government bodies give out funding and try to identify where your project has the best change to receive funding. In most cases, you will apply for funding from the government of the country that you want to work in. So, if you are originally from France but you are currently working in the Netherlands and you plan to stay there for the foreseeable future, then you should apply for funding from Netherlands funding bodies. However, there can be some restrictions on government funding based on your citizenship and residency status, so check into this before you apply if you are an expat. Institutional funding Another source of potential funding is the institution at which you currently work or at which you want to work in the future. Universities have large research budgets, some of which will be allocated to postdoc positions. These fellowships can be for teaching and research or for pure research. These fellowships tend to be slightly easier to apply for and less intensely competitive than fellowships from governmental bodies. The advantage of these fellowships is that it is relatively easy to get funding if you are already working in a department. The disadvantage is that the funding is tied to a particular position, meaning that if you want to move to a new institution or take up a new project then you will lose your funding. Institutional funding can also be used for short-term periods to cover you between two longer periods of external funding, for example. So you can get institutional funding for six months or so while you are applying for a major grant from the government. Travel fellowships Finally, one type of fellowship funding that may be of interest is travel fellowships, where funding is offered for postdocs to travel to an institution in another country to gain knowledge or skills. This generally happens when a postdoc knows someone in research in another country, such as a collaborator, and wants to visit them for a shorter period to work together. If the hosting institution is supportive, then the postdoc can apply for a travel fellowship to cover their travel costs and salary during this period. You apply for funding from the country that you want to visit – so if you currently work in Japan but want to travel to a U.S. institution then you would apply for travel funding from the U.S. institution. Travel fellowships generally last between one and six months and can be a great support for postdocs who want to gain new skills. It is usually best to apply for a travel fellowship when there is a specific skill, type of knowledge, or technique that you can learn from the foreign institution that you cannot get from your own institution. The travel fellowships most likely to be awarded are those with a specific goal in mind, and in which the postdoc can return and spread knowledge among their home institution. Browse our programs listings for more opportunities
After finishing a PhD, most researchers who want to stay in academia will go on to one or more postdoc positions. As a postdoc you may conduct your own research, but most likely you will be supporting a principal investigator (PI) who decides what topics will be investigated. As a postdoc you will perform research, supervise PhD students, teach undergraduate or masters students, and present work at conferences and workshops.