ItemList
number of items: 20
total items: 2605
item list element: How COVID-19 has Affected Economists in the Global North and South
item list element: COVID-19: The Economists' Experience
item list element: Why you should be using a multi-channel marketing approach
item list element: The Best Microeconomic Books
item list element: The Top Macroeconomics Books
item list element: Top Career Paths: Financial Economics
item list element: The Effects of Inequality on Society
item list element: Sudden Delivery Disruptions Due to Pandemic Will Not Go Away Any Time Soon
item list element: What is Innovation Economics?
item list element: Bertrand Competition
item list element: COVID-19 and the Effect on Female Employment and the Gender Pay Gap
item list element: Jobs for Economists in the Government: The Right Career to Consider?
item list element: 4 Tips For Oral Exams
item list element: The Top Jobs in Macroeconomics and Monetary Economics
item list element: Unemployment
item list element: How Has the COVID-19 Coronavirus Pandemic Affected the Academic Sector?
item list element: How has the Economics Job Market Been Affected by the Coronavirus? - Salary Report Introduction
item list element: Who is Responsible for a Shipping Vessel? Ownership and Scrapping
item list element: 5 Books You Should Read Before a Conference
item list element: The Benefits of an Economics Background for an Engineer
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How COVID-19 has Affected Economists in the Global North and South
type: Article
title: How COVID-19 has Affected Economists in the Global North and South
description: Overall, 36% of economists reported having been negatively affected by COVID professionally (excluding the turn to home-office), with 6% made redundant. Although this may be similar to comparable sectors, mapped geographically, the numbers tell another - depressingly familiar - story. Simply put, economists working in the Global South have suffered far higher levels of job loss, greater reductions in hours and salary, and have had more promotions postponed, than their Global North counterparts. The data is stark: 62% of economists in Africa, 56% in South Asia, and 42% in Caribbean, South & Central America, reported being negatively affected by the pandemic professionally, compared with just 23% in North America, and only 16% in Western Europe. Global inequality The International Labour Organisation’s (ILO) report ‘COVID-19 and the world of work’ makes it possible to place these figures among global labour market trends, and, thus, better understand the nuances of the economists’ experience. ILO research uses ‘working-hour losses’ as an aggregate indicator of COVID-19’s impact on the global labour market, and encompasses shorter hours, being employed but not working, being unemployed, and withdrawal from the labour force. With respect to the Global North/South divide, ILO data contains notable parallels to INOMICS’ survey, reporting that ‘lower-middle-income countries have been hardest hit’ and have endured ‘an estimated decline in working hours of 23.3% in the second quarter of the year’- the equivalent of 240 million full time jobs. This trend continued throughout the third quarter and is accounted for by greater prevalence of informal work, limited opportunities for teleworking, and general resource constraints. Unfortunately, because of unevenly distributed fiscal stimuli, its consequences are also set to worsen - the report expressing concern that ‘the estimated stimulus gap for low-income countries is less than 1% of the total value of the fiscal stimulus packa…
disambiguating description: The damage wrought by COVID, far from equalising, has been pointedly prejudiced. While the virus itself may struggle to differentiate between people, the world in which it operates has no such problem. Indeed, its structures have ensured COVID’s disruption of employment has fallen unevenly across regions - the experience of economists a case in point. Data from the forthcoming INOMICS’ Salary Report speaks to this directly, revealing the relationship between where one works - specifically in which country - and the level of vocational dislocation.
date posted: 2020-11-23T13:31:02Z
date modified: 2026-07-03T14:01:41Z
employment type: onsite
language: en
keywords: COVID-19
keywords: Global North
keywords: William Pearse
keywords: coronavirus
keywords: Economists
keywords: Global South
keywords: Inequality
keywords: Salary Report 2020
type: blog
disciplines: internationaleconomics
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: economicdevelopmentgrowth
disciplines: healtheducationwelfareeconomics
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Economic Development, Innovation and Growth (JEL O)
discipline labels: Health, Education, and Welfare (JEL I)

COVID-19: The Economists' Experience
type: Article
title: COVID-19: The Economists' Experience
description: <11an>limit:2;categories:jobs|courses|conferences;disciplines:General Economics (JEL A)|Health, Education, and Welfare (JEL I)</11an> Fortunately, most economists - particularly researchers - have been able to home-office throughout the crisis, transitioning with some ease, with much of their work already reliant solely on access to a computer. This is reflected by almost two thirds of economists reporting that, besides the migration home, they’ve experienced no change to their work. In the words of one: ‘it’s all remained the same’. This, however, cannot be said of teachers, for whom the transition to online learning, while mostly possible, has invariably been a bumpy road. Capturing the prevailing mood, teachers described E-teaching as ‘difficult, time-consuming and boring’, bemoaned their lack of ‘technical help’, and spoke of increased ‘inefficiency’ that had led to ‘an increased workload’. Students mirrored this frustration, though for different reasons. They cited reduced tutor contact hours as a disruptive influence, and were also dismayed by the closure of libraries. For many, though, it’s the future that is the greatest cause of concern. The scarcity of job opportunities was reported multiple times as a primary consequence of the pandemic, a concern expressed often by those on the verge of graduation, or early in their careers. This development will be especially worrisome for those straddled with enormous student loan debt (American student loan debt stands $1.5 trillion) who now face an increasingly precarious future. The prospect of which, according to testimonies from this cohort, has prompted increases in ‘mental stress’, ‘anxiety’, and a fear of perpetual joblessness, all compounded by knowledge that, in certain areas, the worst of the pandemic could be yet to come. The demand for diminishing work was also noted to have negatively affected worker power, empowering the employer. Articulating this emerging reality, one economist predicted that ‘labor st…
disambiguating description: That the world of work has radically changed we know, we see it before our eyes: kitchens have replaced offices; pajamas, suits; and housemates often now fill the space previously occupied by colleagues. But how have these changes - and others - been felt by economists around the world? Through a textual analysis undertaken in the INOMICS Salary Survey, we answer that question and, in doing so, paint an anecdotal picture of economists’ COVID experience.
date posted: 2021-01-13T11:12:03Z
date modified: 2026-07-03T14:03:07Z
employment type: onsite
language: en
keywords: COVID-19
keywords: Economics
keywords: William Pearse
keywords: Economists
keywords: Salary Report 2020
type: blog
disciplines: economics
disciplines: socialscience
disciplines: healtheducationwelfareeconomics
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Health, Education, and Welfare (JEL I)
discipline labels: General Economics (JEL A)

Why you should be using a multi-channel marketing approach
type: Article
title: Why you should be using a multi-channel marketing approach
description: Multi-channel marketing campaigns allow institutions to increase conversion rates by interacting with potential candidates (students, professors and researchers) at different stages of their decision process, using the best channel for that stage. For example, a candidate who has already visited your institution website is more likely to respond positively to a direct email campaign, while a young candidate who has not yet heard of your university/centre/company is more responsive to meeting representatives at a recruitment fair. Additionally, the investment in a multi-channel campaign is more controlled and reduces the risk of overspending on one channel. To be effective with a multi-channel campaign, it is necessary to set up goals, have a consistent message across the channels and implement a detailed system of analysis to be able to measure the return on investment from each channel in terms of quality of candidates, lead management and enrolments. Benefits of Multi-Channel Campaigns Better understanding of potential candidates thanks to better feedback: By using different channels, your organization can collect feedback and experience from different types of candidates. Additionally, platforms like social media are more likely to incentivize prospective candidates to communicate directly with your team, ask questions and contribute with ideas that will increase the value of your institution. Higher brand exposure: Looking for a new job or enrolling in a study program is a decision that is not taken overnight; on the contrary, it requires time and deep thinking. By advertising your opportunity directly on job boards or study program aggregators you will be targeting candidates who have taken a decision to make a change in their life or career. However, you are missing out on the opportunity to make an impression on passive candidates, not yet actively looking for your opportunity. Social media, blogs, apps, etc. can give you access to these passive candidates wh…
disambiguating description: Multi-channel marketing is the practice of interacting with customers by using a combination of direct and indirect communication channels such as websites, online and offline catalogues, email, direct mail, mobile, messaging apps, social media, etc. Multi-channel marketing has been heavily used mostly in the retail industry by enabling customers to buy a product or service by using the communication channel of their preference. However this approach can also be very effective in the recruitment industry.
date posted: 2016-09-28T14:22:42Z
date modified: 2026-07-06T12:10:55Z
language: en
keywords: multichannel campaign
keywords: recruitment
keywords: strategy
type: advice
disciplines: socialscience
disciplines: dentistry
disciplines: physiotherapy
disciplines: nursing
disciplines: biomedicine
disciplines: veterinarymedicine
disciplines: humanmedicine
disciplines: economics
disciplines: dieteticsnutrition
disciplines: publichealth
disciplines: pharmacy
disciplines: generaleconomics
disciplines: businesseconomics
discipline labels: Economics and Social Sciences
discipline labels: Dentistry
discipline labels: Physiotherapy
discipline labels: Nursing
discipline labels: Biomedicine
discipline labels: Veterinary Medicine
discipline labels: Human Medicine
discipline labels: Economics
discipline labels: Dietetics / Nutrition
discipline labels: Public Health
discipline labels: Pharmacy
discipline labels: General Economics (JEL A)
discipline labels: Business Economics (JEL M)

The Best Microeconomic Books
type: Article
title: The Best Microeconomic Books
description: <11an>limit:2;categories:jobs|courses|conferences;disciplines:Microeconomics (JEL D)</11an> Principles of Microeconomics - N. Gregory Mankiw Now in its seventh edition, this textbook on microeconomics is one of the most widely-used and respected. Offering an in-depth overview of all of the fundamentals of the microeconomic discipline, it’s also a surprisingly accessible read for a dense university textbook. It’s arranged in short chapters, Mankiw himself is a highly respected economist, and it’s a great starting point even for laypeople. Freakonomics: A Rogue Economist Explains the Hidden Side of Everything - Steven Levitt and Stephen J. Dubner No list of microeconomics books would be complete without the extremely famous, and very enjoyable, Freakonomics. Levitt and Dubner’s book, a collection of articles, focuses on the application of economic methods to everyday things. There are chapters on cheating, drug dealing, the KKK, and even naming children, among other things. It was such a huge success it spawned a blog, a radio show, a sequel, and even a film. Prices and Quantities: Fundamentals of Microeconomics - Rakesh V. Vohra This book attempts to change up exactly how microeconomics is taught, by beginning with the most basic principles which only involve one variable and steadily getting more complicated. What this achieves is that the mathematics required to fully grasp microeconomics is simplified, in that the calculus steadily gets harder as the book progresses. Vohra also uses real-world examples to make concepts easier to grasp, making this a great addition to your microeconomics library. Thinking, Fast and Slow - Daniel Kahneman In short a summary of Kahneman’s research over the course of several decades of highly successful economics work, Thinking, Fast and Slow is much more than that. Really, it’s a book about how human judgment can’t really be trusted - and how knowing this information can change how you see your own decision-making processes and chang…
disambiguating description: Anyone in the midst of their undergraduate degree will know of the two main tenets of economics: micro and macro. If you’re looking for the best macroeconomic books, you can head over to our article on that topic, because in this piece, we’ll be going through some of the most useful and interesting microeconomic books which will help you get up to speed on all of the fundamentals of the discipline. And remember, these books aren’t only for students - laypeople who are interested in the subject can also benefit from picking up one of these tomes. And what better time to do some reading than when stuck inside during the pandemic?
date posted: 2021-01-13T16:13:45Z
date modified: 2026-07-06T12:12:43Z
employment type: onsite
language: en
keywords: books
keywords: microeconomic books
keywords: reading
type: advice
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences

The Top Macroeconomics Books
type: Article
title: The Top Macroeconomics Books
description: Check out our job listings <11an>limit:2;categories:jobs|courses|conferences;disciplines:Macroeconomics and Monetary Economics (JEL E)</11an> 1. Macroeconomics: Principles, Problems, and Policies - Campbell McDonnell, Stanley Brue, Sean Flynn Perhaps the most essential book on macroeconomics you will ever need, this textbook is often all you need to pass an undergraduate course in the discipline. Weighing in at nearly 600 pages, it is an extremely comprehensive textbook which gives in-depth information on all of the major aspects of macroeconomic theory. While it deals with complex themes and mathematics, it is written in an accessible style, making it great for beginners but compiling enough information to be useful for advanced learners too. 2. The Future of Capitalism: Facing the New Anxieties - Paul Collier In this important book, renowned economist Collier highlights the multiple failings of capitalism and how these have affected the relationships between different groups in society. Drawing from his own experiences from working-class Sheffield to uber-academic Oxford, he then tries to show us how we can fix capitalism - and make a better future for us all. 3. Macroeconomics - Paul Krugman, Robin Wells A slightly less advanced work but one written with the purpose of explaining economics in an easy to understand way, with examples and using the storytelling for which Krugman is best known, Macroeconomics is a great introduction to the core principles of the discipline. The mathematical side of economics is toned down massively to make the ideas easier to comprehend, and much of the book is related to real-world events, specifically the 2008 financial crisis, about which Krugman wrote extensively. Still, the book is comprehensive at nearly 600 pages, and is a perfect supplement to the more mathematics-focused side of economics. 4. Gigged: The Gig Economy, the End of the Job, and the Future of Work - Sarah Kessler Kessler in this book outlines a neglected, or at …
disambiguating description: If you’re currently in the throes of an undergrad degree in economics, or even if you’re just a layman looking to brush up on your macroeconomic knowledge, it’s essential you have the right literature to help you keep up to date. There are plenty of textbooks out there which purport to be the best way to get to grips with the discipline, but some are, naturally, better than others. On top of that, there are plenty of more popular economics books which deal with a specific topic in more detail. So without further ado, INOMICS brings you the list of the best books on macroeconomics.
date posted: 2021-01-12T14:31:32Z
date modified: 2026-07-06T12:13:31Z
employment type: onsite
language: en
keywords: macroeconomics
keywords: books
keywords: economics books
type: advice
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences

Top Career Paths: Financial Economics
type: Article
title: Top Career Paths: Financial Economics
description: Browse our finance economics job listings Investment banking Investment banking is a high pressure, high reward sort of job. It requires quick thinking, the ability to remain calm under pressure, and the ability to predict outcomes of complex systems. If this sounds appealing to you, then you could be suited to investment banking work. Such jobs are generally available in the financial centres of big cities like London or Frankfurt and tend to be in organisations which are quite formal and rigid in their structures – for example, you'd be expected to wear a suit, and there can be a rather competitive attitude between employees. It is also typical to work long hours and sometimes on the weekends. Some people will find this atmosphere stressful and off-putting, but people who thrive in a fast-paced environment may find it highly stimulating. <11an>limit:2;categories:jobs|courses|conferences;disciplines:Financial Economics (JEL G)</11an> Commercial banking In contrast to an investment bank, which generally provides services for the financial needs of large corporations, commercial banking is the sector which provides financial services such as deposits, loans, and basic investments for corporations or individuals. Possible jobs in commercial banking cover a wide range of specialities, such as relationship management, strategy, business development, and businesses analysis. These roles require strong people skills and the ability to manage employees or customers, so they are suited to people who know how to motivate others. Financial management Financial management refers to the planning, monitoring, and controlling of an organisation's monetary resources. Many organisations require financial management, from big businesses to small non-profits. As a job, it requires the ability to plan ahead and to stay on top of the many incoming and outgoing streams of revenue, meaning that it is suited to people who are highly organised and who can keep track of many things at once.…
disambiguating description: If you're working on a degree in economics with a specialisation in finance, or if you're considering doing such a course, then you might be wondering about the career options that it will open to you. Here are some of the top career paths for financial economists.
date posted: 2018-04-24T11:05:33Z
date modified: 2026-07-06T12:14:43Z
employment type: onsite
language: en
keywords: Economics
keywords: international markets
keywords: career advice
keywords: Finance
keywords: commerical banking
keywords: asset management
keywords: investment banking
keywords: Markets
keywords: careers
keywords: career paths
keywords: financial management
keywords: Financial Economics
keywords: Business
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: financialeconomics
disciplines: psychology
disciplines: management
disciplines: finance
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Economics and Social Sciences
discipline labels: Financial Economics (JEL G)
discipline labels: Psychology
discipline labels: Management
discipline labels: Finance

The Effects of Inequality on Society
type: Article
title: The Effects of Inequality on Society
description: Perhaps a worse indictment, however, is that for many they never had much effect. They never came close to capturing their actual reality: the shortage of food, the fragmentation of community, the political alienation. While coping with these concerns, that the 1% had further increased their collective wealth by X trillion dollars was only ever background noise, a little salt on the wound. Statistics of this kind may sell newspapers, but they don’t capture experience. There's no let-up Alas, such is the prevalence of inequality, it’s at risk of defining our time. Among the Organisation for Economic Co-operation and Development (OECD) countries, it’s reached a record high, and economists see little sign of it abating. We now live in societies divided: the haves and have nots; those with opportunity and those denied; inhabitants of good, desirable areas, and the left-behind, the forgotten. In a moment in which fracturing communities need healing, inequality undermines any efforts, driving its big wedge into the ever-growing in between. Indeed, it’s only in the last 15 years, or so, that the full impact of these divisions have been assessed in earnest, and the array of inequality’s far-reaching effects laid bare. Some are not so easily identifiable, let alone quantifiable. And yet, an appreciation of them is essential if the true nature of inequality is to be understood. The reality beyond the money-oriented stats; inequality as experienced on-the-ground. Academics should be thanked for filling the void, as there now exists a robust body of research concerning the psychological effects of inequality, exploring, in particular, the trust it diminishes among individuals, and for institutions; the sense of community it erodes; and its links to growing political apathy. It’s these more insidious impacts, often obscured from popular view, that are of interest here – and it’s no exaggeration to say, they run deep. Solidarity on the wane Research by sociologists Marii Paskov a…
disambiguating description: Inequality is rampant, we hardly need telling. Rarely does the print media pass up an opportunity to remind us. We stand inundated by an endless stream of statistics – on scales barely fathomable – each one more depressing than the last. For instance, it’s widely known that: ‘8% of humanity takes home 50% of global income’; that ‘the top 1% own 45% of the world’s wealth’; and how could we forget that ‘the 26 richest people on earth had the same net worth as the poorest half’. As shocking as these stats once were, they’re now dishearteningly familiar; we can recite them unassisted; we are numb to them.
date posted: 2019-08-13T08:21:11Z
date modified: 2026-07-03T14:04:12Z
employment type: onsite
language: en
keywords: income
keywords: inequality
keywords: society
keywords: William Pearse
keywords: redistribution
type: blog
disciplines: politics
disciplines: microeconomics
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: economicdevelopmentgrowth
disciplines: healtheducationwelfareeconomics
discipline labels: Politics
discipline labels: Microeconomics (JEL D)
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: Economic Development, Innovation and Growth (JEL O)
discipline labels: Health, Education, and Welfare (JEL I)

Sudden Delivery Disruptions Due to Pandemic Will Not Go Away Any Time Soon
type: Article
title: Sudden Delivery Disruptions Due to Pandemic Will Not Go Away Any Time Soon
description: A couple of steps short of humanitarian disaster and incalculable damage to the environment At the end of the year around Christmas, up to 10,000 trucks headed from Dover to Calais via the Eurotunnel. When France suddenly closed its border with the UK, all trucks and their drivers that were still in Britain got stranded in the ports without any information about when they would be able to continue their journeys, and without food or access to essential hygiene facilities. Truck congestions near the ports in Kent were so bad that they even caused local traffic disturbances in some areas. Police were brought in to help organize the HGV queues. With the chaos difficult to contain, a possible humanitarian disaster in Kent seemed a real possibility. A huge number of people carrying various freights ranging from foodstuffs to goods and products were stuck, and some of the stranded products required special storage conditions available only at their destinations. Movement of unaccompanied freights (containers, etc.) was not stopped. However, how quickly the carriers regroup could transfer the freights stuck on the trucks to sea or air freight containers remained unclear, for the obstacles in their way were significant. Was it even possible given the trucks were tightly parked side by side in an open field inaccessible to other vehicles or reloading equipment? In any case, switching all land freights to sea or air freight transportation is impossible in a short time, as their capacities are limited. France remained resolute and stated that only drivers with a negative COVID-19 test would be allowed in. This meant that the UK were obliged to arrange mass testing very quickly, bringing in the army and fire service for the task. As a result, several thousands trucks crossed the Eurotunnel on December 25 alone. This created an additional load both on the tunnel and its servicing companies, and was undoubtedly a huge burden on the environment at both ends, owing to the large num…
disambiguating description: At the end of 2020, chaos in the transport industry ensued after many European countries, including France, decided to ban all travel from the UK. The reason was the rapid outbreak of a new COVID-19 strand. Ultimately, the industry was not ready for such a turn of events. It is incredibly difficult to prepare for what came to pass: in the morning everything started as usual, and then a few hours later, all change and a 180-degree turn.
date posted: 2021-03-02T08:58:49Z
date modified: 2026-07-03T14:05:15Z
employment type: onsite
language: en
keywords: Trade
keywords: Brexit
keywords: Rolands Peterson
keywords: coronavirus covid-19
keywords: Freight
type: blog
disciplines: internationaleconomics
disciplines: economics
disciplines: socialscience
disciplines: industrialorganization
disciplines: urbanruraltransportationeconomics
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Industrial Organization (JEL L)
discipline labels: Urban, Rural and Transportation Economics (JEL R)

What is Innovation Economics?
type: Article
title: What is Innovation Economics?
description: Browse our job listings for economics opportunities University courses on Innovation Economics Naturally, one of the best ways to learn about innovation economics is to study it as part of an academic course. Courses on innovation economics are most often found within economics departments, but they may also be taught in business schools because of the discipline's close links with entrepreneurship. You can see examples of some courses at highly regarded universities which specialise in innovation economics below: Econ 410b. The Economics of Innovation - Undergraduate course, Yale University, US Economics of Innovation - Undergraduate course, Nottingham University Business School, UK Economics of innovation - Master's course, École polytechnique fédérale de Lausanne, Switzerland LUBS2665 Economics of Innovation - “Broadening” module for undergraduate students, University of Leeds, UK Upcoming conference on Innovation Economics If you are more advanced in your career – for example, if you are a PhD student or postdoc with an interest in this field, then you might consider attending a conference. The biggest conference in the field is the annual “Conference on Innovation Economics”, an international conference. Obviously during the pandemic this may be difficult, but at some point the conference will begin again. Thirteenth Annual Conference on Innovation Economics Academic journals on Innovation Economics For senior researchers who need to know about the latest research, or for students who are trying to learn about the field, academic journals can be of great help, keeping you up to date with the latest findings in the field. Here are two journals which specialise in innovation economics: Economics of Innovation and New Technology Published by Taylor & Francis, this journal is “devoted to the theoretical and empirical analysis of the determinants and effects of innovation, new technology and technological knowledge. It aims to provide a bridge between different stra…
disambiguating description: Innovation Economics is a branch of economics that focuses on (rather predictably) innovation, alongside the study of technology, knowledge, and entrepreneurship. It aims to understand where new ideas come from, and how we can put forward policies which will encourage the development of new ways of thinking. As many nations move away from an industrial model of production and towards a knowledge-based economy, the economics of innovation becomes more and more relevant. Although it is a fairly new field, innovation economics has risen to prominence quickly over the last few years. The following is a list of links and resources to help teach you and keep you up to date on all the latest developments in innovation economics.
date posted: 2018-02-12T13:19:25Z
date modified: 2026-07-06T12:15:34Z
employment type: onsite
language: en
keywords: innovation
keywords: economics
keywords: economists
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Bertrand Competition
type: CreativeWork
title: Bertrand Competition
description: Model assumptions<o:p></o:p> Bertrand competition is price competition in an oligopolistic market in which two or more firms produce a homogeneous good. Let's have a quick look at the main assumptions of the model:<o:p></o:p> Homogeneous good: The goods that are being produced and sold by competing firms are completely identical in the eyes of the consumers. Consumers have no preference for either of the firms and therefore buy from the firm offering the good at a lower price.<o:p></o:p> Competition in prices: In contrast to Cournot or Stackelberg competition, firms do not compete in quantities but in prices. This means that each firm sets the price for its product with the aim to maximize its own profit (and of course taking into account the prices set by competing firms).<o:p></o:p> A standard example for Bertrand competition is the market for gasoline. Petrol stations announce the price per liter and the consumers (drivers) decide at which petrol station they refuel their car. As petrol is a homogeneous good, most of the consumers will opt for the petrol station with the lowest price (of course, we must assume the petrol stations in question are located next to each other; otherwise convenience of location can cause these goods to be heterogeneous).<o:p></o:p> In the unique Nash equilibrium of the Bertrand competition model, firms set their prices equal to marginal costs and make no profit. Let us try to understand why this happens. Suppose there are two firms that produce a homogeneous good at constant marginal costs denoted by \(c\) and compete by simultaneously setting prices. Consumers buy from the firm charging the lower price, because they perceive the goods sold by the two firms as perfect substitutes. We will assume that the demand is split equally if firms charge the same price. The profit of firm \(i\) is given by \(\pi_{i}=(p_{i}-c)D_{i}(p_{i},p_{j})\) if there are no fixed costs, where \(D_{i}(p_{i},p_{j})\) is the demand faced by firm \(i\) if firm \…
disambiguating description: Bertrand competition is a model of competition in which two or more firms produce a homogenous good and compete in prices. Theoretically, this competition in prices, providing the goods are perfect substitutes, ends with the firms selling their goods at marginal costs and thus making zero profits. The result is also called the Bertrand paradox, named after the economist Joseph Bertrand (1822–1900).
date posted: 2021-01-05T15:36:41Z
date modified: 2026-06-25T12:03:32Z
employment type: onsite
language: en
keywords: Bertrand Competition
type: terms
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
disciplines: industrialorganization
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Industrial Organization (JEL L)

COVID-19 and the Effect on Female Employment and the Gender Pay Gap
type: Article
title: COVID-19 and the Effect on Female Employment and the Gender Pay Gap
description: However, along with impressive scientific advances, have come huge economic and societal costs, many yet to be fully counted. In particular, lockdowns - and all their attendant economic woe - are reversing decades of progress made narrowing the gender pay gap and improving working conditions for women. Largely, this is because women are overrepresented in many of the industries hardest hit by societal shutdown, namely service, retail and entertainment. It’s estimated that 40% of all employed women worldwide, that is 510 million women, work in these sectors. Paid domestic workers - those working for private households - make for an illustrative example. According to ILO statistics, nearly 55 million domestic workers, two thirds of whom are women, have reported being significantly affected by job losses or reductions in working hours and earnings in the last few months alone. In the Global South, many of the problems women have faced stem from their greater reliance on informal employment, employment which often lacks protection by legal and regulatory frameworks, and therefore has left them more vulnerable to the ongoing economic downturn. The ILO’s Global Wage Report 2020/21 provides a broader context. Referring to data collected from over 150 countries, it estimates that, excluding wage subsidies, women globally lost 8.1% of their wages in the second quarter of 2020, compared to 5.4% for men. According to the report, this discrepancy is mainly accounted for by the difference in wage loss due to reduced workings hours: ‘while the average difference in wage bill losses caused by lay-offs was smaller than 0.4 percentage points between women and men, the average wage bill loss due to the drop in workings hours was 6.9% for women compared to 4.7% for men’. Turning to the field of economics, the INOMICS Salary Survey shows that the economists’ experience is not entirely faithful to these broader trends. Of the almost 2000 participants, 38% of male economists reported tha…
disambiguating description: Less than a year on from COVID’s genome sequencing, vaccination programs are being rolled out around the world. And while the pandemic is far from over, it would appear we’re approaching its endgame, arriving there faster than anyone dared hope. The previous fastest ever vaccine to be developed was for Mumps - and that took four years.
date posted: 2021-01-05T12:49:58Z
date modified: 2026-07-03T14:06:34Z
employment type: onsite
language: en
keywords: COVID-19
keywords: William Pearse
keywords: Gender Pay Gap
keywords: coronavirus
keywords: Salary Report 2020
type: blog
disciplines: politics
disciplines: microeconomics
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: labordemographiceconomics
discipline labels: Politics
discipline labels: Microeconomics (JEL D)
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: Labor and Demographic Economics (JEL J)

Jobs for Economists in the Government: The Right Career to Consider?
type: Article
title: Jobs for Economists in the Government: The Right Career to Consider?
description: Regardless of where you’re from, or where you’d like to work, however, every government employs economists, and it’s easy to argue that they’re needed now more than ever - though in the weird times of the pandemic, finding a government job may be more complicated. Ready for the search? Check out our job listings Security and Stability Traditionally, working for the government meant more job security than working in the private sector. While this may no longer be true across the board, it is still the case in many countries. In this post, we want to focus specifically on jobs within the government itself, not including public sector jobs in national banks or public universities, two areas where job security is much less concrete than previously thought. Looking beyond these two branches, the types of jobs available to economists are quite diverse. For instance, if you are a recent graduate looking for work, you should remember to think outside the box and look to governmental areas not exclusively connected with economics, such as the Patent and Trademark Office, the Department or Ministry of Transportation, Commerce, Labor, Health, Defense, or even the military. In a post a couple of years back, Tyler Cowen of Marginal Revolution examined the breakdown of economists across U.S. government departments, not including the Federal Reserve. Interestingly, he found that the Department of Agriculture was the second largest employer of economists after the Department of Labor. That’s a good bit of info to keep in mind when sending out applications! Moreover, many governments also offer traineeships or internships for recent graduates, which can be a great way to get your foot in the door while gaining experience. In the UK, there is a professional network called the Government Economic Service, which offers positions at all levels to UK citizens, EU citizens and others. Intergovernmental Agencies and Money While not every government has a coordinated core of economists, the…
disambiguating description: When discussing jobs in the government, the type of work that comes to mind is most likely influenced by your particular background. In countries in which large segments of the economy are nationalized, it’s possible to become a civil servant in nearly any field. In other places, your options might be more limited.
date posted: 2014-05-21T22:00:00Z
date modified: 2026-07-06T12:16:35Z
employment type: onsite
language: en
keywords: economics
keywords: Government
keywords: jobs
keywords: Job Market
keywords: Career
keywords: economists
type: advice
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

4 Tips For Oral Exams
type: Article
title: 4 Tips For Oral Exams
description: Check out more of our study advice here 1. Preparation The best way to prepare for an oral exam is the same way that you would prepare for a written exam or a presentation – be truly comfortable with your material. This doesn't mean that you need to memorise every single possible relevant fact – in fact, specific factual knowledge is less important that a solid overall understanding of the topic. To show that you're really confident with the material, it's good practice to read up on arguments both for an against any particular position or issue which you might have to discuss. Then when you're asked about an issue, you can mention that this is one way of looking at it, but this contrary position raises good points too. This will show that you have a nuanced understanding and aren't single-minded in your focus on one approach. Remember that no one is expecting you to have simple answers to the deep and complicated problems in your field, rather, the examiners are looking for indications that you understand the scope of these problems and are capable of thinking about them and discussing them in an academically mature way. 2. Controlling your nerves It's inevitable that you'll feel nervous before the exam, but there are ways to deal with this. Firstly, avoid coffee or other caffeinated drinks for a few hours before the exam, and switch to drinking water instead – the last thing you need when you're nervous is a ton of extra energy making you even more jumpy! Another good tip is to get yourself outside and engaging in some light physical activity before the exam – so arrive 20 minutes early, and spend 15 minutes walking around the block. Also, if there are other exam candidates waiting around, go and chat to them and make an effort to be positive and friendly. These people aren't your competition, they're your peers, and having someone to smile at you and wish you luck before you go into the exam can be a surprisingly big comfort. 3. Dealing with the examiners' questi…
disambiguating description: So you've coming up to exam season? Maybe you've already sat your written exams, and the only one left is the oral. Oral exams can be an daunting experience for students, so today we're sharing some advice on how to get through an oral exam with as little pain as possible.
date posted: 2016-01-07T14:24:44Z
date modified: 2026-07-06T12:18:01Z
employment type: onsite
language: en
keywords: study advice
keywords: exams
keywords: Students
keywords: finals
keywords: student
keywords: advice
keywords: oral exam
keywords: tips
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)

The Top Jobs in Macroeconomics and Monetary Economics
type: Article
title: The Top Jobs in Macroeconomics and Monetary Economics
description: Browse our macroeconomic job listings for economics opportunities 1. Work for a central bank or financial institution The most obvious role for someone who has studied macroeconomics or monetary economics is to work for a central bank or financial institution. These large, often international employers look at large-scale economic issues and employ many economists as researchers. These jobs are suited to people who can cope with sifting through large amounts of data and can deal with complex economic models. Sometimes, a degree of comfort with risk and uncertainty is required. If you like the idea of travelling or living abroad, then these organisations often have branches in many locations around the globe, and can be amenable to you moving and working from a different location. Bear in mind, though, that some of these institutions have been implicated in such scandals as the World Financial Crisis, so working for them may take some minor relocating of your ethical compass. Some examples of employers in this area are: - European Central Bank (ECB) - Bank of England - Deutsche Bundesbank - Asian Development Bank - European Investment Bank 2. Work for the government Another of the biggest employers of macroeconomists and monetary economists is the state. With your knowledge of complex economic systems and skills in data analysis and report writing, you can help with allocation of government funding and plan long-term financial issues such as pensions or healthcare. Jobs with the government tend to be stable, so you can stay in the same job for a very long time without worrying about being made unemployed or having to job hunt. These jobs also tend to come with benefits like sick pay and more vacation days. So after a year's hard slog (it will be tough, prepare yourself) you'll be able to take a few weeks off to recharge. Get ready for the Costa De Sol! However, government work is not for everyone. It can be exceedingly slow to get anything done, given the sprawling b…
disambiguating description: Studying macroeconomics, as many INOMICS users have done, opens doors to countless different jobs down the line. Companies are always looking for people who understand a bit about the world and how it functions, particularly when it comes to economics, remaining, as it does, one of the most revered disciplines of the age (for better or worse). If you have specialised in a particular area of economics, then you can use this information to narrow down your options to the kind of roles which will best fit your skills and interests. And there are, perforce, plenty of options available even once you have isolated your particular skillset. Here we've listed the top jobs that specialisation in macroeconomics and monetary economics will make available to you!
date posted: 2018-05-14T13:08:28Z
date modified: 2026-07-06T13:11:08Z
employment type: onsite
language: en
keywords: careers
keywords: macroeconomics
keywords: jobs
keywords: Georgina Torbet
keywords: career path
keywords: monetary policy
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Psychology
discipline labels: Management

Unemployment
type: CreativeWork
title: Unemployment
description: Low unemployment rates are associated with high levels of production and economic growth, and vice versa. High rates are associated with times of recession, and are consequently a key concern for economists and policy makers alike. Defining the unemployment rate Government departments of labor (or the equivalent in a given country) and the OECD calculate the unemployment rate based on labor force surveys. According to these surveys, a person is unemployed if he or she is of working age (i.e., aged 15 to 64), is without work, and is actively seeking employment. Similarly, a person is considered to be employed if they are aged 15 or above and worked for at least one hour in the week before taking part in the survey. Only paid work is included in the OECD definitions: there are different measures that include laborers working part-time as well. The unemployment rate u is then calculated as the number of unemployed people relative to the labor force, where the labor force is the sum of employed and unemployed people: u = (# of unemployed people / size of labor force) * 100. Anyone without employment who is not actively searching for a job is not considered unemployed. This includes full-time students who are not working, persons who take care of household or childcare duties, and other people who may be productive but are not paid for their work. Another group of people that aren’t counted as unemployed are so-called “discouraged workers”. These are workers who were previously unemployed but have stopped looking for work because they struggled to find a job and eventually stopped looking. Some countries may use other names for this group, such as “hidden unemployed”; and while most countries don’t include them in the official rate, most do track them. And, politicians or economists may advocate for changing the unemployed definition to include discouraged workers. Regardless, the existence of this group indicates that the unemployment rate – despite being an important i…
disambiguating description: Being unemployed means that a person is seeking employment, but does not have a job. The unemployment rate is the proportion of the labor force that is unemployed and is a key macroeconomic metric that helps describe the health of an economy.
date posted: 2020-12-07T11:58:04Z
date modified: 2026-06-29T11:05:02Z
employment type: onsite
language: en
keywords: unemployment
keywords: Sean McClung
type: terms
disciplines: economics
disciplines: socialscience
disciplines: labordemographiceconomics
disciplines: businesseconomics
disciplines: industrialorganization
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Labor and Demographic Economics (JEL J)
discipline labels: Business Economics (JEL M)
discipline labels: Industrial Organization (JEL L)

How Has the COVID-19 Coronavirus Pandemic Affected the Academic Sector?
type: Article
title: How Has the COVID-19 Coronavirus Pandemic Affected the Academic Sector?
description: But the coronavirus has also affected economic sectors differently. How the pandemic hit the private and academic sectors, for example, has been highlighted by the ongoing INOMICS Salary Survey. The full results will be released in early 2020; however, we can already begin analysing which sectors were most affected. A difference of extent Every sector has been affected in some way, whether that means people having had their hours reduced or having lost their jobs completely. For our study, we designate someone as being affected if they either lost their job, their salary or hours were reduced, a contract was not extended or planned promotion was delayed or cancelled. This doesn’t include workers who have moved to remote working but maintained the same contract. However, the private sector has been hit harder than the public. Nearly half of those working in the private sector - 47% - have had their jobs affected by the pandemic, in comparison with precisely one-third of the public sector. But it’s the academic sector which came out the best according to our survey: only 28% of those working in academia reported having had their hours reduced or having lost their jobs as a result of COVID. Specifically, just 3% of those working in academia have been made redundant. 8% have had their hours reduced, and another 8% have had their salaries reduced. This shows that the academic sector is more resilient to the pandemic than both the public and private. Perhaps this is because many teachers have had to continue teaching even if classes moved online. The Anecdotal Evidence Still, the academic sector has experienced other problems. One of our respondents wrote My promotion is postponed because my research has stalled, I cannot go for visiting research stays in universities and research institutes locally and internationally. And without research, my work has been made redundant as I now do mostly teaching, lecturing and administrative work online from home. Some in the sector …
disambiguating description: Although we’ve been told time and again that the pandemic doesn’t care about who you are, in reality it hasn’t affected everyone equally. Senior Editor William Pearse has already written about how COVID-19 has been harder on those from ethnic minorities and on poorer communities in the UK.
date posted: 2020-11-26T22:59:59Z
date modified: 2026-07-03T14:08:19Z
employment type: onsite
language: en
keywords: James Matthew Alston
keywords: salary report 2020
keywords: academia
keywords: academic sector
keywords: student
keywords: professors
keywords: coronavirus
keywords: covid-19
keywords: teaching
keywords: coronavirus covid-19
type: blog
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: healtheducationwelfareeconomics
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Health, Education, and Welfare (JEL I)
discipline labels: General Economics (JEL A)

How has the Economics Job Market Been Affected by the Coronavirus? - Salary Report Introduction
type: Article
title: How has the Economics Job Market Been Affected by the Coronavirus? - Salary Report Introduction
description: INOMICS is in a unique position to survey a broad and engaged subset of economists from a wide range of countries and at a wide variety of career stages. Based on this data, while recognising the limitations of a restricted sample, we are able to make key observations about the overall and regional state of economist salaries, about the extent of gender diversity at different career stages, and about the value of different levels of education in terms of salary later achieved. Over 1,500 economists completed the survey so far, with data collection continuing until the end of December 2020. INOMICS will release the full results of our salary survey in the first half of 2021 as a standalone report. This report will also be slightly different to those we’ve done in the past, in that we also included a section where economists could recount their anecdotal experience of the pandemic. This adds a personal touch to the report. While we work on finalising the results of the overall salary report, in the coming weeks we will discuss some of our preliminary findings from the coronavirus section. This will include commentaries on the geographical discrepancies we found in the severity of the crisis and if and how pre-existing inequalities in the economics job market have been accentuated as a result of the pandemic. Key findings of the salary survey related to the pandemic include: One third of economist jobs have been negatively affected by the Coronavirus Pandemic. This includes being made redundant, having hours or salary reduced, a contract not extended and a scheduled promotion cancelled or delayed. This does not include changes in how people work such as working or teaching from home. 6% of economists said they have lost their job because of the pandemic. Economists in the private sector have been hit harder than those in the public sector or academia. Economists in the Global South have been more affected than those in the Global North. 62% of economists in Africa and …
disambiguating description: In 2020, INOMICS once again carried out its salary survey, examining the state and health of the economics profession worldwide. As in previous years, the survey considered pay, sector, seniority, location, gender and educational background. Our 2020 survey was launched in the spring as cases of coronavirus began to increase exponentially around the world. Consequently, we added new questions related to the coronavirus pandemic to assess the effect of the crisis on economists and economics students.
date posted: 2020-11-23T07:22:24Z
date modified: 2026-07-03T14:09:30Z
employment type: onsite
language: en
keywords: salary report 2020
keywords: econ jobs
keywords: coronavirus
keywords: covid-19
keywords: econ jobs market
keywords: 2020
keywords: economics job market
keywords: pandemic
keywords: economics
keywords: salaries
keywords: economics profession
keywords: salary report
keywords: salary survey
type: blog
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: business
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: General Economics (JEL A)

Who is Responsible for a Shipping Vessel? Ownership and Scrapping
type: Article
title: Who is Responsible for a Shipping Vessel? Ownership and Scrapping
description: There must be a link between the state on whose behalf the vessel is sailing and the vessel's flag state. But in reality, flag registers, which do not stipulate the registration of shipping companies, benefit from convenient financial benefits and lower taxes. All this is partly regulated by private companies, 'helping' shipowners to change their flag to a more advantageous one when they want to. It also helps shipowners to obtain lower taxes and lighter regulatory burdens. According to UNCTAD data, almost 73% of the world's fleet sail under flags of the states other than the actual owner of the ship. This is why there is a great deal of dissonance between the countries where the real shipowners are located and the flag states exercising regulatory control over the international fleet. Check out our job listings The choice of the flag state where the ship makes her last voyage to be scrapped calls for special attention. In most cases, vessels sail to the beaches of South Asia instead of ship recycling facilities elsewhere. No wonder many end-of-life ships are already wearing the flags of Asian countries. In addition, most of these flags are already blacklisted in the Paris Memorandum of Understanding (MOU). These flags also usually indicate poor compliance with international maritime standards. Several of South Asia's beaches offer a 'last voyage' package, which includes quick registration and no nationality requirements to be met. Who benefits? If a ship had to be recycled in European ports in compliance with all the required environmental and toll requirements, it would be quite expensive and disadvantageous for many private companies. According to the data published by the NGO Shipbreaking Platform in 2019, 674 ocean-going vessels and offshore units were sold for scrap metal. Of these ships, 469 large tankers, bunkers, floating platforms, cargo and passenger ships were dismantled. They are mainly delivered to three coast lines: Bangladesh, India and Pakistan, acc…
disambiguating description: The United Nations Convention on the Law of the Sea (UNCLOS) stipulates that the primary responsibility for vessels lies with the flag state of the vessel. Consequently, this means that each merchant vessel must be registered under the flag of a specific state. The flag state of the vessel is responsible for the inspection of the vessel and compliance with safety, pollution prevention, crew certification and international standards.
date posted: 2020-11-16T23:00:00Z
date modified: 2026-07-03T14:10:26Z
employment type: onsite
language: en
keywords: ships
keywords: shipping industry
keywords: freight shipping
type: blog
disciplines: internationaleconomics
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: industrialorganization
disciplines: urbanruraltransportationeconomics
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Industrial Organization (JEL L)
discipline labels: Urban, Rural and Transportation Economics (JEL R)

5 Books You Should Read Before a Conference
type: Article
title: 5 Books You Should Read Before a Conference
description: But a good way to contend with this is to be well-read. There are some specific books you can pick up which can help you specifically with speaking publicly and networking. Read on for our list of aforementioned books. INOMICS and our parent company 11 Academia Networks are Amazon Associates, meaning we are a part of their affiliate program. This article contains affiliate links, which means we may earn money through any qualifying purchases made after you click through. However, this is not a sponsored post. 1. Confessions of a Public Speaker - Scott Berkun This funny, light-hearted book is nonetheless full of solid practical advice for successful public speaking and general communication skills. If you're giving a talk at a conference for the first time, or even if you're experienced but you want to brush up on your skills, this book by a professional public speaker can help. With advice that goes beyond giving a successful presentation and into topics like how to deal with a tough audience, combating nerves, and how to be engaging rather than boring, this will help make your talks better and give you confidence. These tips will also help you during smaller speaking events, such as if you're giving a poster presentation at the conference. 2. Never Eat Alone And Other Secrets to Success, One Relationship at a Time - Keith Ferrazzi Although this book is aimed at business professionals, it is packed full of advice on networking which will be helpful for academics too. Networking is one of the biggest advantages of conferences, and yet it is something that many academics struggle with and even feel embarrassed about. This book encourages you to build your network by creating connections with others with whom you have interests and work in common, rather than trying to network with absolutely everyone. This targeted advice can make networking at a conference more fun and less alien. 3. English for Academic Correspondence and Socializing - Adrian Wallwork If you're a no…
disambiguating description: Networking is one of the most important parts of a conference, but lots of people find it hard to engage with other people. At conferences it's even more difficult: you're talking with so many people, many of whom are successful businesspeople or established academics.
date posted: 2018-09-10T07:00:00Z
date modified: 2026-07-06T13:13:27Z
employment type: onsite
language: en
keywords: keynote
keywords: James Matthew Alston
keywords: conference
keywords: academia
keywords: speech
keywords: Books
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)

The Benefits of an Economics Background for an Engineer
type: Article
title: The Benefits of an Economics Background for an Engineer
description: Browse our programs listings for more opportunities Mixing subjects I was advised that economics was the most applicable choice for starting to understand certain concepts within business. Indeed, I was able to learn concepts in both micro and macroeconomic theory, as well as to complete courses within the more strictly business-related commerce program. One of the benefits of an engineer learning economics is the connection to mathematics. Engineering students complete a wide range of math and statistics courses during their studies, so most (if not all) math-oriented economic concepts were easier to grasp when introduced. The best of both worlds While the overlap in material between the two programs proved to be of clear and significant benefit in terms of the workload, the diversity provided both the greatest challenge and the greatest reward. For example, in my final year of study, I had to complete a real-life, multidisciplinary design project for my engineering degree. In the same time-frame, I was also involved in several in-class discussions about current economic trends. This contrast made me think from multiple perspectives, broadening my understanding of what economic and financial factors should be considered in engineering projects and vice-versa. It is this standpoint where an early leg-up in economic concepts is fundamental for an engineer, not only in order to have a management perspective, but also to develop a business perspective: technical knowledge is key, but an ability to consider the current and forecasted market trends may be just as important when completing more complex projects over longer periods of time. For example, in my current field of Aerospace Engineering, predicting the economic trends over the next 10, 25 and 50 years of anticipated technological advancements is a fundamental requirement for all companies in the field. In hindsight As I look back, I fully recommend any engineering students wishing to study for an MBA or simply a…
disambiguating description: Ever since I was a kid, I dreamed of becoming an engineer. From playing with LEGO to being an active member of my high-school robotics team, I loved building things and breaking them down to learn how they worked. This being said, I have kept an open mind about a position in management down the road and from this perspective it was important to me to prepare for a career in both business and engineering. My answer: a dual degree program whereby I completed a BA in economics alongside a BSc in Mechanical Engineering.
date posted: 2015-12-11T23:00:00Z
date modified: 2026-07-06T13:17:32Z
employment type: onsite
language: en
keywords: economics
keywords: Engineer
keywords: engineering
keywords: mba
keywords: Dual Degree
keywords: Business
type: advice
disciplines: engineeringbusiness
disciplines: marketing
disciplines: economics
disciplines: generalengineering
disciplines: socialscience
disciplines: business
disciplines: management
disciplines: generaleconomics
discipline labels: Engineering & Business
discipline labels: Marketing
discipline labels: Economics
discipline labels: General Engineering
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Management
discipline labels: General Economics (JEL A)