Nobel Prize in Economics 2018 - The Winners
All this talk of awards got you feeling inspired? Well, check out all the latest academic opportunities in the field of economics here! William Nordhaus Outside of a commitment to long-term macroeconomic analysis, the pair’s research is actually very different. Yale economist Nordhaus is commonly seen as a pioneer in environmental economics. Since the first murmurings of climate change in the 1970s, he has warned governments of the dangers of global warming and explained how their economic models are contributing factors. As a prolific researcher, he has produced multiple models designed to alleviate these damaging effects, the best known of which - his Dynamic Integrated Climate-Economy (DICE) model - was adopted by the US Environmental Protection Agency, and has been used to measure the impact of climate policy interventions. In more recent years, he has become a public and very vocal advocate for a universally imposed carbon tax as the best means of tackling greenhouse gas emissions. Paul Romer Romer’s research has promoted the so-called ‘endogenous growth theory’, which posits that countries can ensure economic growth through a focus on supply-side measures, i.e. investments in human capital, innovation, and knowledge. Further, he has argued that technological change can be induced by appropriate state intervention, specifically, in the form of R&D tax credits and patent regulation. Politically minded Brits may remember Gordon Brown being roundly mocked following a speech, co-written with Ed Balls, in which he mentioned ‘post neo-classical endogenous growth theory’. In words now immortal, Michael Heseltine disparagingly responded to it by saying: ‘it wasn’t Brown’s, it was Balls’. Oh Michael, how times have changed. Looking forward In accepting the award, both economists looked beyond the precariousness of the current moment and remained optimistic about the future. Acknowledging the Trump administration's climate change scepticism, Nordhaus did concede that the US faces ‘a difficult period’. Nonetheless, he was unerring in his confidence that the country is sufficiently equipped to see it through. Equally hopeful, Romer said he believed the prize’s announcement would reinforce the message that ‘people are capable of amazing things when they set about doing something’. With positivity so conspicuously absent from recent public discourse, it was refreshing to hear it from two experts whose fields offer so much opportunity for pessimism. In tackling both inequality and climate change, it is exactly the mentality we need to harness.
The announcement of the Nobel Prize in Economics 2018 could not have been timed better. It took place just 24 hours after the release of the Intergovernmental Panel on Climate Change’s (IPCC) stark warning that only 12 years now remain for global warming to be kept to a minimum of 1.5C, beyond which catastrophe looms. Rather appropriately, considering the admonishment, the gong was jointly awarded to Americans William Nordhaus and Paul Romer for their research into, as put by Swedish Academy, two of the most ‘basic and pressing’ economic issues of our time: ‘long-term sustainable growth and the welfare of the world’s population’.
Macroeconomics and Monetary Economics (JEL E)
Economic Development, Innovation and Growth (JEL O)
Top 10 Tips to Build a University Brand Online
Presently, branding runs far deeper than a logo and a slogan alone: in the digital age people are looking for value, trust and meaning from those they’re looking to invest in - universities are no exception. Despite the inherent power of digital branding, 49% of organizations do not have a clearly defined digital marketing strategy. Now, to make sure you're not one of them, here are 10 top tips for building your university’s brand online. Social media Studies suggest that 41% of university officials believe they can directly attribute a rise in enrollments to their social media efforts - in short, getting social and tapping into the zeitgeist will significantly boost your brand awareness. A wealth of platforms including YouTube, SnapChat, Pinterest, Facebook, Twitter, and Instagram offer priceless opportunities to share your brand values with prospective students and reach them on a personal level - so don't miss out on this opportunity. Baylor University (Pinterest), Imperial College London (YouTube), and The University of Nevada at Reno are all shining examples of how educators can use social media for branding success - so be sure to explore their efforts. Digestible branding A recent Google study discovered that opinions on a website are formed in a mere 17 milliseconds. That said, to keep your prospective students engaged, your university branding needs to be digestible. Not only does your content need to be inspiring, engaging and simple to absorb, but your logo and imagery need to represent your institution with a single glance - so make sure you don't make your assets too convoluted or complex. Data, data, data We are living in an age rife with digital data and insights. By harnessing this data to your advantage - insights such as demographic information, where students interact online, engagement rates for your current content and landing pages, etc. - you will be able to make informed, accurate branding decisions that will strike a chord with prospective students and increase your enrollment rates, significantly. Guest Content By selecting educational thought-leaders or current students to write guest blog posts or take over one of your social media platforms for the day, not only will you prove to today’s budding students that you fully embrace the digital age, but you will also offer your target audience a fresh tone of voice - one that will ultimately boost brand awareness and speak to prospective students on a personal level. Merchandising While offering merch is an old analog means of branding, people still love a freebie and if it’s something they can wear or use in a practical sense, you will literally get people to walk around acting as brand ambassadors for your university. If you really want to squeeze the promotional juice out of your merch, you can even offer a free giveaway online, boosting your web authority as well as your physical presence. VR Tours Virtual reality (VR) and augmented reality (AR) are fast becoming an everyday part of our society - so why not leverage this most disruptive of technologies to your advantage? With Google Earth VR and Google Expeditions becoming a tangible part of the public consciousness, more institutions are using these platforms to deepen their educational offerings - and you can take this notion one step further while boosting your brand awareness by offering a fully immersive VR campus tour, like Princeton University: Webinars Webinars are particularly powerful tools as they offer an incredible level of value while offering the mobile convenience that most of today’s students or general consumers crave. By hosting a webinar on a particular subject related to your institution and inviting prospective students to tune in you can share your brand story, your values, your USPs and really reach out to people in a way that means something to them - instant brand points. Podcasts Akin to webinars, podcasts are also a very powerful branding tool for universities in the digital age. With so much rich content to explore, unis can really make a mark with a podcast series and as they’re relevant cost-effective to produce, creating a regular series is completely feasible. The University of California and Stanford University offer two excellent examples of podcasting for educational branding - tune in for inspiration when you get the opportunity. Competitor research Look at the various campaigns, efforts, and activities of your direct competitors and you’ll quickly see marketing gaps that you can leverage or areas that you can expand and improve on. Look at areas including enrollment levels, social media interaction, the engagement of particular posts or campaigns and the overall approach each institution takes to their content and communications - and use these insights to stand out from the crowd. Evolve and improve The future of your university and the success of your brand depends on your ability to adapt, adopt emerging digital technologies and evolve with the student base you’re looking to target. Keep on upskilling your marketing department, remain abreast of industry trends, continue to analyze and advance your efforts and long-term university branding success will be yours for the taking. University branding in the digital age is certainly challenging, but with more promotional channels and touchpoints available than ever before, if you get it right, the rewards will be endless. We wish you the best of luck. How we can help On INOMICS we are ready to help you to enhance the added value of your institution by giving you space to showcase the best experiences of your members. With excellent content about your institution (institutional profiles and reviews), listings (online announcements), influencer marketing and social media boosts, we can help you to get quality enrolments and successful recruiting campaigns. Not all universities have the same recruitment needs and strategy, therefore we are ready to listen to your goals and suggest different channels to reach a targeted pool of prospective students. If you have any questions or if you would like to arrange a free telephone or Skype consultation with us to analyze your recruitment strategy and discover how we can help you, please contact us at info@inomics.com or info@11academianetworks.com if you want to explore promotion outside the discipline of economics and finance. Join the community of successful recruiters! 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As you may well know, the digital world has changed the face of the educational sector exponentially. While once upon a time, colleges and universities used tactics including print, radio and television advertising as well as word of mouth to attract budding students - nowadays there is a wealth of channels on which to connect with tomorrow’s alumni.
Economics Blogging Tips From Miles Kimball
Other articles on economics, studying and finding jobs... ➲ Download the 2019 Handbook now! Introducing the esteemed Mr Miles Kimball…. If forced to pick, which blog article would you say you are most proud of? And, in addition to that, which has created the most ‘buzz’, not necessarily just in terms of reads, but in the conversations it started? If I consider what I have written on Quartz as an extension of my blog then the first piece I wrote on negative interest rate policy, "How Subordinating Paper Currency to Electronic Money Can End Recessions and End Inflation", is up there. The piece represents a whole area of research and activism that I am very proud of. You can see how much intellectual effort this led to in all the links on my bibliographic post, "How and Why to Eliminate the Zero Lower Bound: A Reader’s Guide". The argument made here is that if we make vigorous use of negative interest rates, we never have to have a repeat of the Great Recession, and we can avoid secular stagnation. By far the most buzz I have ever had for anything is from the piece I wrote with Noah Smith about math education: "There's One Key Difference Between Kids Who Excel at Math and Those Who Don't". Our message there is "You too can do math." In our society we expect almost everyone to be able to learn to read. We should have a similar can-do attitude toward learning math. Of things that have never appeared on Quartz, let me point to "On the Great Recession" as a blog post I am proud of. More recently, the blogging I have done on obesity has gotten a lot of buzz and engendered a lot of discussion. Going simply on page view data alone, the most popular post on my blog is: "John Stuart Mill's Brief for Freedom of Speech". Such is its popularity it shows up as the second hit if you google John Stuart Mill freedom of speech. Finally, I also have one blog post that successfully popularized a new word. If you google "teleotheism" you will get to my post "Teleotheism and the Purpose of Life" - check it out. This one is for the economic-blog enthusiasts out there. Which fellow (rival?!) bloggers are you currently reading? And whose blogs would you recommend as essential for our readers to follow? I am very proud to be able to claim Noah Smith as my PhD student. He has a constant flow of incisive insights, well expressed and certainly worth a peruse. Tyler Cowen, too, is an excellent writer and is doing a great service as an aggregator. Brad DeLong is very impressive when he puts on his history-of-thought hat, and I think John Cochrane is the smartest right-wing economist currently taking a big role as a blogger and public intellectual. Finally, for those interested in monetary systems, I recommend JP Koning, he is not to be missed. And lastly, can you give, in under 100 words, a description of your blog, and tell the people why they should visit it? Readers of "Confessions of a Supply-Side Liberal" will find a wide range of topics, centered around trying to make the world a better place, whether through better monetary policy, better financial policy, more honest science, more freedom, encouraging more respect for others as human beings, thinking bigger about the long-run future, or fighting the rise of obesity that is killing and maiming so many people around the world. I hope especially to raise the sights of young economists beyond narrow career success. I also hope I have something on my blog for almost anyone, economist or not.
Responding to the success of our blogging article in 2018r’s INOMICS Handbook – for those of you unacquainted, click here – the economists are back, answering more blog-oriented questions. This time around, we’ve taken a bit of a personal turn, quizzing our participants about their blogging successes; the concepts behind their writings; and their preferred reads. For those setting out on their economic journey, the following makes for essential reading.
How To Pick A Topic For Your Economics Master’s or PhD Thesis
Make sure you pick a project with appropriate scope The biggest mistake that students make when picking a topic for a thesis is choosing a topic that is too broad for the length of thesis they are going to write. In almost all cases, your topic should be narrower and more specific than you think it should be at first. Being more narrowly focused will help you to keep your thesis well-structured and with a clear argument, instead of ballooning out across too many related ideas in an unstructured way. If you’re unsure if the scope of your project is appropriate, ask an adviser or experienced researcher whether it sounds appropriate to them. Pick a topic that plays to your strengths and existing knowledge Certainly, a thesis can and should be a way for you to learn new skills. However, you’ll already have a lot to learn about long-form writing, so don’t make your job even harder by picking a topic in which you have no experience whatsoever. If you’ve never been much into statistics, for example, it’s probably best to stay away from research projects which require complex data analysis. Conversely, if there’s a subject that you really excelled at in your studies, consider doing your thesis on a related topic so you can build on your existing knowledge. Gauge the right level of originality for your thesis You’ve surely heard that your thesis needs to be ‘original work’. But this doesn’t necessarily mean that you’ll be performing research from scratch! For a master’s thesis, you’ll typically be reviewing other people’s work on an established topic and adding your own spin to the analysis. For a PhD thesis, you should aim for a novel approach to an existing topic or investigate a new or under-researched topic. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an><o:p></o:p> Make sure it’s something you’re interested in This sounds obvious, but you should absolutely make sure that the project you choose is of interest to you! If you’re going to be working on a project for months or even longer, then it has to be something which you are engaged with, and the best way to keep engaged is to pose a question for your project to which you want to know the answer. Think back over the lectures you’ve attended and the books you’ve read, and consider what issues you enjoyed discussing and thinking about. If there was ever a topic which you came across and wanted to know more about, but didn’t have the time or resources to investigate, this is your chance to find out more. Get inspired by previous students’ projects If you’re unsure where to start, or don’t know what sort of project would be appropriate for your course, then it’s a great idea to look at previous students’ projects. In most universities you’ll be able to access previous student theses in the library, so you should take advantage of this resource. While you should never copy someone else’s idea, you can use it as inspiration. For example, perhaps someone has done a project on the economic implications of an international policy within a certain country. Your project could look at the implications of that same policy in a different country. Or you could look at a similar policy in a different period of history Ask your lecturers or supervisor for advice Once you have one or more ideas about a topic for your project, you’ll want to ask for advice from people who have experience in assessing projects. You don’t want to do a lot of work on a project idea, only to hear much later that your supervisor thinks your topic is not a good choice. Do some basic preparation before meeting with a supervisor or lecturer – make sure that you understand the basic facts of the subfield which you’re interested in, and that you have some ideas about what your research question would be and what methods you would use to answer it – but make sure that you get feedback on your idea early in the process. Consider an interdisciplinary topic If you’re working in economics but are also interested in another academic subject, you may have the opportunity to learn about the field as a part of your research project. You could consider a project which touches on a subject like history, sociology, business, politics, or psychology, for example. The advantage of this is that you can experience information and methods from another field to see if studying it further would interest you. It will also help you to create a unique and memorable project, as most of your fellow students will likely study a topic which is based purely in economics. This might make your project a little harder, as you will have more new information to grasp than others.
Whether it is for your master’s or your PhD, picking a thesis topic is a vital step in your academic career. Choosing the right topic will give you a great head start on your thesis, so it’s worth taking your time to think through your options and to choose a subject that will suit you and meet the needs of your course well. Here are some tips for economists who are picking a topic for their master’s or PhD thesis.
As in previous years, around a quarter of our survey’s participants were female. However, because this edition is our largest, in terms of respondents, to date, the actual number increased on last year, totalling 586. The representation of women according to the level of seniority varies significantly, with women overrepresented at junior-level and midlevel positions within academia. Worryingly, senior-level women are underrepresented in both academia and the private sector – the trend exhibited clearly in both graphs above. This indicates the existence of a “glass ceiling” that makes it disproportionately difficult for female economists to reach senior level positions. There is also a salary disparity between male and female economists that, as the graph above shows, increases with seniority. While at junior-level discrepancies in pay are around $6,000 and $3,000 in academia and the private sector respectively, at senior-level this increases to $22,000 and $28,000. In percentage terms, this equates to men receiving 27% and 34% higher salaries – a shameful gulf. Evidently then, even when the 'glass ceiling' of job accessibility is circumvented, females often then encounter a 'salary ceiling' - quite obviously, the field of economics has much to do to achieve salary equality across the genders. It is, for this reason, we believe studies like our Salary Report are essential; publicising and exposing retrograde trends, and beginning conversations that will eventually tackle such flagrant injustice. ➲ Download the full Salary Report here! There will be more analysis of the Salary Report’s findings in the upcoming weeks, keep an eye on the INOMICS insights section for future instalments. Additionally, for career opportunities and job listings in business, finance, and economics, take a look at our jobs section. It has all that you will need to take that next big step!
The following is an analysis of data taken from the INOMICS Salary Report 2018 - downloadable for registered users here. Specifically, it looks at the representation and average salaries of both men and women, across all levels of seniority, in academia and the private sector. It is the 5th instalment in a series of insights handling the Report’s findings, and the first that seeks analysis through the prism of gender. The first four can be found in our insights section.
Economics Blogging Tips From John H. Cochrane
For other articles on economics, studying and finding jobs... ➲ Download the 2019 Handbook now! Introducing the esteemed Mr John Cochrane…. If forced to pick, which blog article would you say you are most proud of? And, in addition to that, which has created the most ‘buzz’, not necessarily just in terms of reads, but in the conversations it started? The ones I am most proud of are the longer form essays that introduce some relatively new ideas, or explain research in (I hope) an accessible way. The series on neo-Fisherism is perhaps the best example. It was great as a two-way conversation. I wrote the blog posts as I was wrestling with the ideas -- theory and fact took me far beyond my own comfort zone -- and the back and forth is provided with commenters, other blogs, and even academic papers clarified the ideas for all of us. (I now actually have citations to the blog from academic papers!) The "stock gyrations" is a recent example of this kind of writing, though in this case an old idea rather than a new one. The series on the Fama vs Shiller Nobel prizes was pretty good, and I learned a lot about basic philosophy of science differences in writing it. The blog gives, I think, far more widespread readership of essays I write that might otherwise get buried by being published in somewhat small circulation outlets. "Rule of law in the regulatory state" "Towards a run-free financial system" "how and why we care about inequality" "trade and immigration" and so forth. As for buzz, I'm happiest when I see the blog cited in academic articles, or when a serious blog discussion happens, say between myself, Steve Williamson, Dave Henderson, Alex Tabarrok, Tyler Cowen, Miles Kimball and so forth. I must admit though I got a lot of initial buzz back when Paul Krugman and Brad DeLong had a habit of writing that I am stupid, corrupt, an idiot, and so forth, at least when Paul finally started actually putting links into the things he was making fun of. They seem to ignore me these days, but being in the Paul-Krugman-writes-you're-an-idiot club actually gave me a lot of credibility. However, a blog post lasts about two weeks. A tweet lasts 5 minutes, an op-ed lasts a week, an essay lasts maybe 6 months, an average academic article lasts a few years, and a really good academic article lasts 10 years. This one is for the economic-blog enthusiasts out there. Which fellow (rival?!) bloggers are you currently reading? And whose blogs would you recommend as essential for our readers to follow? I read marginal revolution every day, the links are great. Economists view (Mark Thomas) has a comprehensive set of daily links, even to blogs that annoy the heck out of me. Econlog (Bryan Caplan, David Henderson, Alberto Mingardi, and Scott Sumner), Supply-side liberal (Miles Kimball), and Econbrowser (James Hamilton) are all good. But…. my advice to young academics, is ration yourself! Don't spend the whole day on the internet. Once you've read a few blogs, and the WSJ, NYT, or FT editorial page, get to work! And lastly, can you give, in under 100 words, a description of your blog, and tell the people why they should visit it? This is a blog of news, views, and commentary, from a humorous free-market point of view. After one too many rants at the dinner table, my kids called me "the grumpy economist," and hence this blog and its title. I'm not really grumpy by the way.
Responding to the success of our blogging article in this year’s INOMICS Handbook – for those of you unacquainted, click here – the economists are back, answering more blog-oriented questions. This time around, we’ve taken a bit of a personal turn, quizzing our participants about their blogging successes; the concepts behind their writings; and their preferred reads. For those setting out on their economic journey, the following makes for essential reading.
We brought in the experts To answer these questions, and better elucidate the realities of blog writing we thought it best to turn to the experts - eight of them to be exact. As a group, they are among the best-respected economists around, blogging to large and loyal audiences in their respective fields. Each was asked to share their experience of cyberspace, and to pontificate on the perks of publicising one’s personal musings on the web - they had much to say. For other articles on economics, studying and finding jobs... ➲ Download the 2019 Handbook now! A crisis as motivation For all our participants, blogging was an activity that was added to an already tightly packed schedule, begging the immediate question: what was your motivation to begin? In response, a number referenced the 2008 financial crisis and ensuing recession as their starting point. As Antonio Fatas explained, the rupture brought economic matters to the forefront of public consciousness, and prompted people, often with no prior economic interest to query ‘why is this happening?’ and, ‘which policies could we implement to alleviate the situation?’ Fatas believed that a discussion of this kind – public, charged and highly fluid - demanded the ‘transparency and accessibility’ that only blogging could afford - the blogosphere, it could be said, was beckoning. Author/Economist Leigh Caldwell was similarly enticed, seeking a public space to deliberate such questions, approaching them, as is his wont, with a psychological perspective. For him too, blogging was the answer. This desire, to serve and engage with the public, was a rather common motivational theme. John H. Cochrane, for instance, was driven by a growing frustration at the ‘bloody idiots’ behind the poorly researched morning op-eds and inaccurate nightly news stories he saw proliferating. To counteract this - and bring about some personal catharsis - he used blogging ‘to bring economic common sense to policy issues’. John, we thank you for that. A pragmatic approach Responding to external stimuli, however, did not account for all. Miles Kimball’s blogging career, for example, was born, in part, from pragmatism – given his standing, young economists take note. Although like many other bloggers, he wanted his blog to have an impact on public policy, it was also designed as a ‘sounding board’ for new ideas, an arena where they ‘could be sharpened’, and thus a space in which larger scale research could be incubated. He also believed, in an opinion roundly shared, that the instantaneous exchange between peers was imperative for the production of relevant research in a rapidly changing world. Such sentiment was reiterated by Robin Hanson, for whom blogging was, and remains, an excellent means of ‘joining the conversation’, the associate professor lauding its inherently dialectical nature. In particular, he appreciated the newfound ability to ‘make an intellectual contribution in just a few hours’ and get feedback, compared to the weeks or months a research paper demands. American economist Timothy Taylor adopted a similarly practical tact. From its outset, his blog doubled up as a personal archive or library, proving ‘a considerable time saver when pulling together a talk or lecture’. His works are collated and chronologised all in one place – meaning his whole canon is condensed and navigable at the click of a button. Quite the utility! But who should be able to blog? This is all well and good, but let us not forget that these bloggers are seasoned professionals, established names in their respective fields, with years of experience already behind them. Perhaps blogging is just a luxury pastime, an activity to be considered only by those who have already ‘made it’? How appropriate is it really for young economists, students, recent graduates, and the like? Is it worth their time too? Well, we posed this question to the panel and received insightful, and interestingly, rather varied responses. For those still unsure whether blogging really is for them, the below is essential reading. On questioning, a consensus quickly emerged that blogging should be approached with, if not caution, at least some consideration, especially by those inexperienced and perhaps un-established in their field. Epitomising this viewpoint was Diane Coyle – herself a strong blogging advocate - who warned ‘young researchers not to let any [blogging] activity diminish the effort available for the outputs that may help get your career off to a good start’. ‘In many cases what matters [still] might be something else’- whether academic papers published, client contacts recorded, etc. In her eyes, one should always prioritise; keep abreast of all formal commitments, and only then, if left with a spare moment, consider blogging. Econometrician James Hamilton was even more circumspect, imploring young economists not to simply jump on the blogging bandwagon, but rather ‘carefully manage their time according to their own interests and talents’. Blogging, he reaffirmed, just isn’t for everyone. And yet, even in these cautionary words there remained the understanding that for those with organised and well-managed schedules, there is much to be gained, as long as the practice is viewed, as Kimball describes, ‘as a complement’ to existing commitments, rather than a substitute. This mindset assumed the potential benefits of blogging are vast. Among the more restrained endorsers was Taylor who recommended something of a halfway house, suggesting that young economists with a specialised focus participate in a group blog. A collective of this kind could provide the benefits of blogging - the synthesis and distilling of ideas - without its drawbacks - the consumption of time, and the ever-present risk of an online feud. Hanson, was more convinced, assuring that even for those with fledgling portfolios it could be a great source of marketing: ‘people will read your other things because you’ve blogged’. Although such advice is maybe not applicable for bachelor students, it should certainly be contemplated by recent graduates and certainly young professionals. Marketing, research and scope From others, endorsement was less fettered. Asked whether they would recommend blogging to economists at the beginning of their careers, Caldwell and Cochrane both responded - presumably sharing the same thesaurus - with a unanimous: ‘absolutely’. They did, however, diverge in explanation. Caldwell, with a more marketing tilt, placed emphasis on the practice’s ability to raise one’s profile, whilst also acting as a useful barometer of current economic trends. Cochrane, on the other hand, issued something of a rallying cry, proclaiming that blogging was essential to the overall discipline: ‘we should be batting around the basic research ideas more often and in more accessible and timely forms’. It is true; debating the building blocks of research, and as a by-product refining them, helps save time and makes academic sense. In Cochrane’s case the increased circulation of his work, facilitated by his blog, has helped him become a well-known name within public policy circles - certainly no mean feat. Fatas echoed this enthusiasm, appealing to all economists - not just those starting out - to take up blogging, recommending it ‘in particular [to] those writing on topics that are more applied in nature’. He justified this by submitting that all research ‘benefits from the discipline of having to put ideas in a different language than the usual academic paper’, and that dialogue, ‘via the comment section’, can be hugely constructive. Go forth and blog! Well, there you have it; the experts have spoken. Clearly, there is agreement: blogging has become an influential and heuristic tool that, given sufficient time, and when not too great a sacrifice to other commitments, is a worthwhile endeavour. There remain question marks, however, as to how much students, particularly those of bachelor or master levels, should commit to it. While still cutting teeth on the basics, one should think carefully whether it really is a sensible undertaking. Waiting a few years is hardly the end of the world, and trust us, the bandwagon isn’t leaving anytime soon. For those who are ready, who feel the time really is now, we advise you to blog in adherence to the following principle, as distilled from our interviewees’ responses: Blog good; blog niche; and blog dedicated. Over to you. So what are you waiting for, potential blogger extraordinaire? Get blogging. But first, download our latest Handbook by clicking the button below. ➲ Download the 2019 Handbook now!
It is well known that blogging can be a useful, if not essential, tool for expanding networks, creating academic dialogue, and generally fomenting ideas. Alas, as wonderful as this may sound, like always, it is not always quite that easy. It also requires time, which tends to be tight; energy, at times lacking, and dedication. With this in mind, we wanted clarity; in practice, how can blogging benefit one’s work? And, what role can it play in the career development of an aspiring, young economist?
How To Make The Most of Your Conference Trip
If you're looking for a conference to attend in the near future, check out our conference listings on ConferenceMonkey. Preparation for you conference One of the best way that you can make the most of your conference trip is by putting in some preparation before you go. The week for the conference, find some time to check the organiser's website, which should have a list of the keynote speakers, other speakers, and maybe even an advance timetable of presentations. You can look through notes or the program and highlight talks which are of interest to you, and find the names of people in your field who will be attending and who you wish to get in contact with. If you see any names of people who you know and would like to connect with, drop them an email inviting them to get coffee or dinner with you during the conference. This way you'll have some knowledge of which talks you can't miss, which topics are likely to be discussed in question times, and who to look out for while you're there. Finally, don't forget to pack comfortable and practical but smart clothing and shoes. If you need some advice on what to wear to your conference, check out our Insights into what men should wear at an academic conference and what women should wear at an academic conference. On your arrival at the conference Once you arrive, take a few minutes to walk around the conference area, taking note of the different lecture venues and other locations. This way you won't be getting lost while you're in a rush to get to an important talk! Make sure that you get hold of a map of the area, and mark both the conference location and your hotel on it. Also have a look at the transpiration options to and from the conference location, and check out the local area immediately around the conference centre. Finding a cafe nearby with wifi will give you somewhere to escape to for breaks or if you need to send some work emails. It can be a great idea to utilise the conference's social media presence both before, after and during the conference. Check out our Insight of 6 Tips for Using Social Media at a Conference for more information. Asking questions after others' presentations at the conference Attending presentations lets your hear about brand new work, straight from the researchers themselves. You can hear about empirical work that has not yet been published, and discuss theories which are still in development. There will likely be both organised talks and more informal poster presentations, and both of these offer you the opportunity to ask questions of the presenter. If you want clarification of a concept or a methodology, or more details on a specific area that is relevant to you, then don't be shy about asking for this information after a talk or during a poster presentation. Use this chance to really get to know a topic in depth, straight from an expert. Getting feedback on your conference presentation If you're giving a talk or poster presentation yourself, then you can avail yourself of the knowledge of all of the conference attendees. Bring a notebook with you, and after you complete your presentation and discussion, take note of the questions which were asked of you, and any salient points which arose in the discussion. If there was a point you raised which attendees seemed unconvinced by, then you know that you need to strength your argument. Perhaps a questioner will suggest a link to a different area of research which could be relevant to you, or suggest a paper which you did not know about before. In any case, thank people for their feedback and get this information down on paper as soon as you can, so that you don't forget it. If you're giving a conference presentation and need some help with everything from initial preparation to post-presentation networking, check out our long read on A Guide to Conference Presentations. Socialising & networking at a conference The social aspect of a conference is also important; both in terms of networking and in having an enjoyable time for yourself. There will likely be organised social events such as dinners, drinks receptions, or visits to local tourist spots. Do try to make time for these social events, as they offer the opportunity to get to know your fellow conference attendees in a more casual environment. While you're at these events, don't be afraid to strike up conversation with people you don't know, even if they are more senior than you or from a slightly different field – the point of these events is to get to know new people and to hear about their work. If you need some more help networking at a conference, check out our Insight into how best to network when attending a conference.
Attending a conference can be a fun and exciting chance to visit a new place, to connect with peers and senior figures, and to learn about the latest development in your field. But it can also feel overwhelming to have a lot of events packed into a few days. Today we're sharing tips on how to make the most of your conference experience.
If you're currently mulling over whether to do a PhD, check out our PhD listings to find the right course for you. Do you want to go into academia? The main reason that most people start a PhD is so that they can begin a career in academia. However, doing a PhD and working in academia is very different from studying from an undergraduate or master's degree. You will need to be much more self directed and self motivated, and you will be more independent in your work, but it is hard to know if this environment will suit you until you try it. A good frame of reference for PhD work is the project that you perform as part of your master's or the final year of your bachelor's degree. Did you enjoy coming up with a concept and finding a way to test or explore that concept in a thesis? If yes, then you may be suited to a PhD. Be realistic about job prospects Many people growing up today have heard all their life that they have to have a good education to get a good job. And though this may be true, a high level of education is in no way a guarantee that a highly paid job will follow. Some subjects are better than others in terms of job outlook: subjects like hard sciences or computer science often lead to fulfilling jobs even if these positions are not necessarily within academia. But other subjects like the arts and humanities produce many more PhD graduates than there are jobs, leading to extremely stiff competition and many unemployed or underemployed graduates. This doesn't mean that doing a PhD is necessarily a bad idea – many students find doing a PhD to be deeply personally rewarding and the most exciting educational experience of their lives – but it does mean that you shouldn't do a PhD because you think you'll get a better job at the end. In most cases, if you want a particular job then you're better off gaining work experience than studying for an extended postgraduate degree. Where will funding for your PhD come from? One aspect of doing a PhD that is not always considered first but definitely should be is where the funding will come from. Doing a PhD is expensive: from the cost of setting up and running experiments, to expenses incurred travelling to conferences, not to mention the considerable expenses of supporting yourself for at least three years. Some people are so desperate to do a PhD that they will offer to fund themselves, by getting support from a partner or family or by living off their savings while they study. But this is generally a bad idea. Doing a PhD is a full-time job that should be paid as such. Working without funding is demoralising and arguably shows a lack of respect on the part of the institution and the supervisor. If they think that you are good enough to do a PhD, they should pay you at least the minimum you need to get by while you work. The systems for funding PhDs vary from country to country, so in Europe you might be first accepted onto a PhD program at a university and then apply for external funding, while in the US you might apply for a PhD and automatically be granted funding by the university if you are accepted. Another option which is common is for PhD students to receive half funding, which they supplement to full funding by working for their university as a teaching assistant or research assistant. In some situations, working a role during the PhD can be a good way to gain experience – especially if teaching experience is important for your career goals – but remember that teaching duties are a big source of extra stress and can require many additional hours of work on top of the actual hours of classroom teaching. Whichever funding route you take, it is advisable that you have at least three years of full-time funding agreed to in writing before starting a PhD. Don't be afraid to ask explicitly about funding and where it will come from. It is sadly common for people to start a PhD with limited funding, then for that funding to dry up after a year or two so that they have to drop out. It is better to defer your PhD application for a year and to take that time to secure full funding than to jump straight into the PhD without a firm funding plan in place. Is your PhD project right for you? Sometimes people can get caught up in the idea of doing a PhD without really thinking about whether they should study the particular project they have chosen. There are generally two ways to choose a PhD project: either you apply for a specific role as a PhD student in an existing lab or group, in which case your project will be largely assigned to you by your supervisor, or you come up with your own project idea and submit this proposal to a grad school or department. The first path is safer in that it involves a project which has been chosen by people with a great deal of experience of PhDs and the field, so you can be confident that the project is likely realistically achievable and will contribute usefully to the field. The second path allows you to follow your own passions and to investigate your own ideas, but it is riskier because there is a greater chance that your project is too big to complete in a reasonable time frame, that your experiment might not work, or that the project might not be perceived as useful by others in the field. Take time to consider not only if you want to do a PhD in general, but also whether you want to do this specific PhD. Get as much feedback as you can from supervisors, friends doing PhDs, former teachers, mentors, and others about your project ideas and whether they would make an achievable and worthwhile project. And be realistic about your interests and strengths – if you've never liked statistics then doing a project heavily based on data analysis is unlikely to make you happy. Ideally your project should be a subject that inspires you and excites you, and to which you feel like you could make a valuable contribution with your ideas. Are the institution, department, and supervisors right for you? Another big factor in how your PhD will be is the environment in which you will work. Doing a PhD can be isolating and you need people around you who will support and help you out. Some academic groups are small and insular, others are large and diverse, but in either case you need to be among people who understand your work and will give you the time that you need. It's hard to know in advance if your supervisor will be difficult, but you can get a good idea by talking to other PhD students who have them as a supervisor and listening to their experiences. Many PhD students will be happy to share this information with you if you are thinking about applying to the same supervisor. Finally, don't feel as if your only opportunity to do a PhD is the program that you apply to first. You can apply to several programs at the same time and see which interview process excites you the most. Or you can wait until you find the right supervisor or institution which will make your experience so much better.
Here's a big question that's on the mind of many master's and undergraduate students: should I do a PhD? The idea of dedicating three years or more of your life to original research is both exciting and terrifying, and the experience can be either exhilarating or harrowing, or usually a mix of both. Today we'll take a look at some of the issues to consider when you are thinking about applying for a PhD program.
1. Tax deductions Most people hate paying their taxes. Filling out forms and handing over a load of your money to the government is not what anyone wants to do, and if there's a chance to save money on taxes then most people are delighted with that. But not economists. They point out that tax dedications and tax loopholes create an unnecessarily complex system that benefits some more than others – and that benefits those who can afford accountants the most. Making a tax system too complicated increases the number of loopholes available and makes the system harder to manage and less fair. 2. Corporate income tax Conversely, most people think that corporations should pair their taxes in order to benefit everyone in society. But many economists disagree. They argue that corporations should be encouraged to keep their money and reinvest it into their business, not hand it over to the government. If governments want to tax rich people then they should raise the individual income tax rate on the highest earners, not add an extra tax on companies. 3. Untaxed carbon pollution Almost everyone agrees that climate change is a real and pressing problem, but there are many disagreements about how to combat it. One policy with only middling support is taxing carbon emissions so that companies have to pay for the pollutants that they produce. This policy is unpopular among business owners, but it has strong support from economists who argue that it makes economic sense to incentivise the cutting of carbon emissions through taxation. 4. Agricultural subsidies In both the EU and the US, as well as elsewhere in the world, governments pay massive amounts of money in the form of subsidies for the growing of particular agricultural crops. The idea is to safeguard an essential food supply, but in practice, the policy encourages the overuse of chemicals, the growing of only certain crops, and the dumping of large amounts of unused food. Many economists agree that subsidies should be discontinued. 5. Poor economics journalism Economics is not the easiest subject for the public to understand. Unfortunately, that means that the subject is frequently misconstrued and is blamed for various ills in society. This is not helped by articles in newspapers which perpetuate the idea that economics is incorrect or irrelevant because it is not “intuitive”. 6. Austrian Economics Austrian Economics is an esoteric school of economics which rejects mathematical modelling and empirical testing, instead using a narrative approach that critics say is not in any way based on the real world. The famous economist Paul Krugman described the school as having “the psychology of a cult” and the whole concept of doing economics without empiricism is rejected by the large majority of economists. 7. Fairtrade Fair Trade is a label that customers like because it allows them to make more informed choices when purchasing goods like coffee which have to be sourced from other countries where very low prices or labour exploitation may be common. Economists, however, are frequently critical of the initiative, arguing that the system is ineffective at raising payment or increasing quality of life for farmers and workers – instead, the extra money goes to middlemen in the supply chain. 8. Presents Gift giving during holiday seasons is one of those traditions that everyone enjoys – other than economists, apparently. Gift giving is not rational as any gift that you could give could easily replaced by cash which has a higher level of utility. So remember that when Christmas rolls around and you're trying to choose a present for the economist in your life. 9. Non-evidence-based economic policies Because economics is complex and predictions are hard to make, there is a perception among the public and policymakers that economists disagree about everything and that one policy is as good as another. But in fact there is broad consensus among economists on key issues like the effectiveness of stimulus packages or bank bailouts, and considerable scepticism over popular political ideas like the claim that tax cuts will boost the economy. One thing almost all economists agree on is that policy should be based as far as possible on sound evidence. Looking for a job in Economics, Finance or Business? Yes? Well cast a glance over our job section for all the latest job opportunities!
There are some surprising ways in which the opinions of economists diverge from most other people – and some things about which economists agree that they can't stand. Here are 9 things that economists hate:
Effective Ways Economists Can Build a Personal Brand
To find a range of other insights like this, click the button below to download the latest INOMICS handbook. ➲ Download the Handbook now! Use social media You probably already have an account on Twitter, Facebook, and so on. So take some time to review your profiles, set your privacy settings in a way you’re comfortable with, and put some information about yourself and your research on each platform. Also, don’t forget to make use of academic social networks like Google Scholar and academia.edu to network with other researchers. Set up a website You need some kind of web presence which links to all of your social media sites and has information about you and your publications. If you’re not very technical, don’t worry, you can still set up a simple website. It needn’t be anything fancy – just a set of links in a plain colour scheme is fine. If you like to write regularly, you can also set up a blog as a great way to connect directly with your audience. Be consistent across platforms Part of branding is keeping a consistent picture of yourself even on different platforms. You can have some variation – for example, Twitter is a much more casual environment than LinkedIn – but try to keep a similar message on all sites. Identify your key research interests and the topics which you discuss the most, and focus on these in all of your profiles. Give talks, including outside of academia Branding isn’t just something that you do online. You can also build people’s awareness of you and your work by giving talks or lectures. If you’re just starting out in your career, try to accept every invitation you receive to give a talk and work on your public speaking skills to give the best impression. Remember that talking to the public is important too, so if you are invited to speak at a public event then adjust the content of your talk accordingly and be welcoming to members of the public. Attend conferences and network there The best way to build up your brand is to build up your professional network. The more people you know in your field, the more resources you can call on for advice or assistance and the more likely people are to recommend you for posts or talks. Attending conferences is a very effective way to meet many of the key players in your field. Attend professional events like lectures and workshops In addition to conferences, don’t underestimate the importance of attending other events like lectures and workshops. Attending these events and contributing to the discussion – either during formal discussion time Attend professional events like lectures and workshops In addition to conferences, don’t underestimate the importance of attending other events like lectures and workshops. Attending these events and contributing to the discussion – either during formal discussion time or informally after the event – is helpful to let people in your field know about you and your views. Attend networking events Another way to build your network, especially early in your career, is to attend networking events. These events can give you some practice at networking in a low-pressure environment and help you to build up your skills as well as being a good source to meet new people. Write opinion pieces, book chapters, and guest posts There are lots of opportunities for you to write about your research, from contributing chapters to academic books to writing opinion pieces for a newspaper. You can also contribute to blogs by writing a guest post or a series. This will help to build your profile as well as giving you practice at writing for different audiences. Start a podcast or guest on one A recently popular format is podcasts, where a topic is presented in audio format. Often, podcasts are hosted by enthusiastic amateurs who interview professionals about their particular topics. Guesting on a podcast, or even starting your own, can be a great way to expose yourself to a broader audience. Be careful about the quality and suitability of content you put online This might sound obvious, but part of branding is not just putting good content online, but also avoiding putting negative content there too. Stay away from publicly sharing content that is overly personal or not professional, and keep this content to private groups instead. If you are unsure whether something is appropriate to post publicly, it’s best to err on the side of caution. To read more of our insights into economics, finance and business, download our Handbook for free! ➲ Download the Handbook now! All Images: Copyright INOMICS (Photographer: Christy Ioannidou)
Building a brand used to be just for companies and universities – but now a personal brand is something that every student and academic needs to work on. While many academics are hesitant to brand themselves too actively, you should remember that not working on your brand is in itself a kind of branding, and not a positive one. So you’re going to have to spend some time building your personal profile as a researcher – but there are some tips that can help to make this process smoother and more efficient. Here are effective ways economists can build a personal brand.
How To Prepare For Your Post-Doc Interview
1. Prepare an outline of your current research project One of the biggest questions you will need to answer in your interview is to explain your current research project, or the project you are planning on starting very soon. First off, you should be able to explain the essential principals of your project in just a few sentences, covering the research question you want to answer, the methodology you will use, and what results might mean. Then you should be able to talk about these topics more in depth, and also to explain how your prior experience makes you well suited to performing the project. Talk about what input you are hoping to get on the project from other group members and how the results will contribute to the field. 2. Gather references from your PhD supervisor and others As part of the interview process, you will need to share references or letters of recommendation from your PhD supervisor. If you have a mentor in the field or you have a good relationship with a senior professor, you can also ask them to provide you with a recommendation letter. Typically, you will either be asked to provide letters of recommendation in advance of the interview, or you will be asked for the contact details for your references and your interviewers will contact them and ask for information about you. You should reach out to your references and ask them if they will talk on your behalf, and make sure to bring their contact details with you to the interview. 3. Research the university, department, and PIs you are interviewing with It's important for any interview that you know a bit about the institution and people that you will be interviewed by. You should know the names of your interviewers in advance, or at the very least you should know one of the interviewers. Use this information to learn about the work being done by the interviewers, and also learn about the research interests of the department and the university. If you can explain why you want to do a postdoc with this particular group or department as opposed to other equally prestigious departments, then you can demonstrate that you are a good fit for the postdoc position and that your work will complement the work done by others in the group. 4. Prepare ideas for future projects Not only should you be able to discuss your current and former work, you should have ideas about future projects too. It is very likely that you will be asked about what projects you would like to perform as part of your postdoc. The ideas you have don't have to be complete to the standard of a research proposal, but you should have some concept of what methods you would use and what results you might expect when researching a particular question. If you can find someone in the hiring department who works on a related topic and with whom you could potentially collaborate, definitely mention this too. 5. Bring along teaching evaluations if you have them This tip may differ between the US and Europe. In Europe, there is less emphasis placed on the importance of teaching so you may be applying for a postdoc position with no teaching experience at all. In the US, on the other hand, teaching is a major part of academic life and most postdocs would be expected to have at least some teaching experience. In either case, it is a good idea to put together documentation for the teaching that you have done. Find your lesson plans or semester curricula, and refresh your memory on what topics you taught and any special methods that you used for teaching – such as getting the students to do group work, using audio-visual clips, or what projects you got your students to complete. And most importantly, bring along any student evaluations that you received. Providing evidence that your students enjoyed your classes is always a good boost in a postdoc interview. For more career opportunities and job listings in business, finance, and economics, take a look at our jobs section. It has all that you will need to take that next big step!
When you are applying for a postdoc position, as part of the process you'll need to have an interview with the PI of the group you are applying to work with and others in the department. Here are some steps you should take to prepare for this interview.
Tips for Improving your Economics PhD Motivation Letter
1. Be specific. One bad habit that many people have when writing their motivation letter is being too vague. Saying that you enjoyed your economics undergraduate course or that you find economics interesting is too vague to be meaningful. After all, it can already be assumed that you enjoyed studying economics or you wouldn't be applying for a PhD. Instead, try to be more specific: mention which particular courses or topics appealed to you most, what you learned from them, and why you want to learn more about them. 2. Give concrete examples. Another common mistake is to make claims without giving any evidence to back those claims up. For example, you'll often see people say “I work well independently” or “I am highly organised and good at managing all of my assignments”. But without demonstrating how these things are true, there is no reason for the hiring committee to give weight to your self-assessment. For better results, give concrete examples of your claims in action, such as “My high level of organisation was demonstrated when I completed my economics undergraduate courses while also working a part-time job, which required excellent time management skills.” or “In my second year, I successfully organised an undergraduate conference with 50 attendees.” <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> 3. Show your personality. It is important to be professional in your motivation letter, so the letter should not contain jokes, sarcasm, or irrelevant personal information. However, you also needn't be dull and impersonal. You can and should allow your personality to shine through in your letter, and show how you are different from other candidates. Maybe you have strong opinions about a particular topic in economics, or perhaps you have taken an unconventional career path that involved working jobs as well as studying. In these cases, you needn't hide your individuality. Show how your background gives you a unique perspective on economic issues and your approach to academic work. Remember, the point of the motivation letter is not to show how similar you are to an imagined perfect candidate – it's to show off your unique personal approach and how you could be a great economics PhD student. 4. Focus on skills. Another issue that some people have in writing a PhD motivation letter is the gulf in requirements between an undergraduate or master's course and a PhD course. In an undergraduate or master's course, you have to attend classes, complete assignments, and perform well in assessments. In a PhD, you will often have to come up with your own research questions, choose the best methodology to answer those questions, and motivate and organise yourself to complete your work. If you don't have direct experience with doing these PhD tasks, that's okay – you won't be expected to know everything before you even start the PhD. However, you do want to show that you have the capacity to perform this kind of work. In order to do this, you focus on the skills that you have – such as data analysis, writing, research, presentation, and so on. Try to give examples of how you have used these skills in the past to show that you're ready for the challenge of a PhD now. 5. Talk about your future plans. Something that hiring committees like to see is that you are interested in working in the field of economics in the future. This means that you need to talk about what your plans are for after the PhD if you want to be accepted. For most people applying for a PhD, the interest will be in doing a postdoc once they have completed the PhD. Other people may know that they want to work in industry, or for an NGO or for the government. Any of these answers is fine, but the committee will want to see that you have thought about your long-term career. Do mention your long-term plans near the end of your motivation letter to show that you are serious about a career in economics.
If you're writing a motivation letter to apply for a PhD in economics, then follow these tips to increase your chances of success. If you plan to start your PhD application this autumn, download our free guide "How to successfully apply to a PhD in Economics".
With Britain's Brexit Negotiations in Flux, Let's Talk About No Deal
Then, just days later, when the dust had settled and the topography of the new cabinet revealed, it was suddenly the reverse that looked most likely - perhaps coherency in governmental policy was to be the result of the most recent tumult? Certainly, with Davis and Johnson gone, two prominent and highly-influential proponents of ‘hard-brexit’, a path had emerged - by no means free of obstacles, but visible nonetheless - for the hobbling government to stagger down in the direction of a ‘softer’, and judging by the polls, more popularly endorsed brand of withdrawal. Going Soft? These particular developments, triggered by the so-called ‘Chequers Agreement’, were fleetingly believed a breakthrough - finally, after two years the Prime Minister had formalised some kind of Brexit strategy. Even though there was no guarantee how those on the continent would respond - commentators were quick to point out that much of the proposal stood at odds with key tenets of EU legislation - the agreement represented a softening in position, a willingness for concession, and a concern for the mounting evidence suggesting disaster if negotiations were botched. No Deal in Sight Alas, rather predictably, the position held for little over a week before the government caved to the demands of the increasingly influential right-wing European Research Group. Most significantly, the compromise included an amendment to the ‘customs bill’, a part of the Chequers Agreement it was thought would lead to too close a relationship between Britain and the EU27, post-Brexit. Perceived a capitulation by many, these concessions have since been rounded on by all sides of the chamber. Peter Dowd, the shadow chief secretary to the Treasury, disdainfully summarised the collective mood to the Guardian: “It took two years for the prime minister to reach her Chequers deal, but only two days for it to fall apart”. With every passing day, as factions further divide and consolidate, it is becoming harder to see any Brexit plan carrying a parliamentary majority, whether it be the Norway model, Canada, Canada ++, or any of the other incarnations mooted. WTO rules on the horizon? For business, this uncertainty is worrisome, to say the least. With no coherent strategy in place, departing without a deal and trade reverting to World Trade Organisation (WTO) rules is now a real possibility. As reported by Reuters, in Germany business groups are already urging their members to prepare for the outcome, such is their fear of its potential disruption. WTO regulation, long an article of faith for hard brexiteers, is seen by many on the right as harmless, benevolent, and even, in some cases, an opportunity. The question often posed: given that it is the means by which the rest of the world trades with the EU, how bad could it really be? Rhetorically, to an ill-informed ear, this may sound almost convincing. However, under scrutiny, its exposed for what it really is. The first thing to point out is that Britain’s relationship with the EU is hugely different to other countries trading bilaterally with the bloc. Having been a member state for so long, Britain has naturally developed a far more intimate and complex relationship with the EU. As The Economist explains: ‘the EU accounts for 43% of Britain’s goods exports and half its imports’, and when also taking financial services into consideration - the sector making up 80% of the British economy - the reliance is shown to be even greater. With this in mind, it should be remembered that a Canada-model deal, mooted some months ago, was rejected on the premise that it imposed too great a restriction on mutual market access, thus making it economically dangerous. Shifting to WTO regulation, the Economist forecasts, would encourage similar hazards, only worse. And it is still celebrated? To return to the oft claimed, ‘well if everybody else is doing it, why can't we?’; well, on literal inspection this too quickly looks a duplicitous supposition. Most developed countries actually have trade agreements in place with the EU, encompassing customs co-operation and standards of goods, and are not on WTO regulation alone. Whilst looking into this, researcher James Hardy found that only handful of countries traded on a solely WTO footing, and the ones that do are almost uniformly developing countries. Not only is this a relatively clear indication that many find its terms of trade unsatisfactory, it also undermines influential pro-Brexit group leave.EU, which has been repeating, relentlessly, that 'if it’s good enough for Australia, America and Canada, it’s good enough for the UK”. As it turns out, this is at best misleading, and at worst plain untrue. The Warnings Closer to home, the Governor of the Bank of England, Mark Carney, has joined the chorus of concern, warning of the ‘big economic consequences’ of a no deal and adoption of WTO regulation, confessing it would have to be considered a ‘material event’ when deliberating future interest rates. His cautionary remarks have also coincided with a fall in wage growth in Britain, increase slipping to just 2.5% on Tuesday. If Carney’s intervention felt ominous, big business has been even more explicit in its condemnation. Bosses of both Airbus and BMW could not even guarantee the retention of production on British soil if Britain were to leave the negotiation table empty handed. Airbus, who employs 14,000 people at 25 sites in the UK, declared only last week that just departing the Single Market could prompt it to up sticks. Evidently, with jobs and livelihoods at stake it is imperative the no deal outcome is discussed, seriously and honestly. It is one of a number of Brexit scenarios whose comprehension is essential if Brits are to make an informed decision about their country's future. Much could still change, and at this point, Britain's future is anyone's guess. We'll be covering more topics related to Brexit soon, so check back to INOMICS.com soon for more.
The reporting of British politics for journalists has rarely been so onerous. Dramatic landscape shifts in the form of u-turns, resignations, and unexpected elections, are now so frequent the lifespan of articles, previously measured in days, are better predicted in hours - sometimes just a handful. Last week’s rapid-fire resignations of Brexit Secretary, David Davis, and Foreign Secretary, Boris Johnson, over their intransigence regarding Britain’s Brexit strategy epitomised this difficulty. Following the double salvo, it looked, albeit briefly, as though anything was possible: a vote of no confidence; a leadership election; maybe even a general election. All bets seemed off.
Public Economics & Economic Policy (JEL H)
The INOMICS Questionnaire: Fratzscher v Cochrane
What unfolded proved illuminating, often personal, and frequently amusing, the dialogue shedding light on the inner workings of the enigma that is the ‘economist’s mind’. Ranging from the trivial to the truly insightful, the following is an essential read for anyone even vaguely interested in the field of economics. Put the kettle on, pull up your favourite chair and enjoy. To find a range of other economics insights, click the button below to download the latest INOMICS handbook. ➲ Download the Handbook now! Marcel Fratzscher: What is your favourite place on earth? John H. Cochrane: I love lots of places. But if I have to choose one, Florence, which combines beauty, history, and for me a bit of nostalgia. What alternative occupation would you want to have if you had a free choice? I have a free choice! Perhaps you mean the chance to make alternative human capital investments? Given my talents, and my many limitations - there are lots of things I’m no good at, and I know to avoid tasks that require them - I have to say I’ve pretty much maximized. I started in aeronautical engineering and then physics, and designing gliders or being a physicist still has a romantic appeal. But I know it wouldn’t have turned out as well as this has. What is the virtue you appreciate the most? Intellectual honesty and ethics. And these are the virtues that when absent in our profession bug me the most. Your all-time favourite figure in economics? Too many to name. Bob Lucas, Gene Fama, Lars Hansen have been huge influences and I admire them a lot. Your # 1 economics blog? Grumpy Economist! Seriously, I read Marginal Revolution most, and follow its links. Your ideal student? Smart, self-directed, thinks big but achievable, takes what is useful in my feedback and ignores the rest. What should be done to address a gender bias in research in economics? That is a big and important question that I can’t fully answer in a little questionnaire. I don’t think the question as stated is correct - I don’t perceive “a gender bias in research in economics,” whatever that might mean. There is a huge problem that women, especially married women with children, fall out of the profession at such a rate that there are almost none of them in the ranks of tenured and chaired professors at major universities. A lot of that is cultural. I’m brewing a long grumpy post on it, but it’s a delicate issue so I’m taking my time. What is the most misguided research agenda in economics? Part of my “ethics” virtue above is that one should not be snarky about alternative approaches, and one should not criticize research agendas one does not know well. That said, I’ve had my differences with Keynesian and new-Keynesian research, and some behavioural research. Old Keynesian seems to want to keep alive a quasi-religion that makes very little actual economic logic, and failed utterly in contact with the data, at least to the extent that a quasi-religion can ever fail. New-Keynesian is an admirable program, but I think it went wrong with the “active” monetary policy idea instead of fiscal theory. If you look hard at “active” money in those models it just seems looney. That’s expost hindsight - the people involved are tremendous researchers and figuring out what equations really mean is as hard in economics as in physics. But it’s time to move on. The idea “let’s put psychology in economics” is a good one, but a lot of the research seems stuck at ex-post storytelling, an interpretive rather than scientific approach, very small effects, and endless claims that someday this is going to really pay off. What is the most promising current research field or issue in economics? Mine of course! Fiscal theory of the price level and risk aversion at the source of business cycles and finance. Seriously, a rule I tell grad students: don’t listen to old guys like me for direction. In the past, great new research fields have almost come despite our contrary advice. Intellectual arbitrage has also paid off well in the past, and clearly, the young stars are using new computational and internet data power to make a lot of progress. Where does economic research have the most influence on policy-making? In my view, in the broad cloud of ideas, not in day-to-day analysis. In a tax bill, say, there will be piles of competing studies, to say this or that tax makes this or that person $402.57 better or worse off. I think this has very little effect. I think economics is most effective in the very important broader circle of ideas. Do people - voters, op-ed writers, newspaper reporters, etc. - understand that when a Chinese company sells us something that’s good for us? Do they understand that marginal taxes distort behaviour? When they see houses that are too expensive do they understand that “we need to let people build more houses” not “we need to pass a lot of taxes to subsidize housing” Do they understand that rent controls will kill the housing market? If people at large understand these things, policy will follow. If they don’t, no amount of enlightened politicians will ever get us anywhere. Politicians are largely smart and well-intentioned people. But they can’t go where their voters do not want them to go. On what issues should policy listen more to economists? I would say all issues! Except that economists (other than me!) seem to offer pretty lousy, and often politically motivated advice. Sorry, we’re not that great. Being good at research does not mean one is good at crafting policy solutions. Being smart is different than being wise. Policy needs basic economics, and clear wisdom about just how little we actually know. Researchers tend to suffer a lot of overconfidence bias, and are all excited about their latest idea and ready to unleash it on the poor unwitting taxpayer. We might be best in the role of devil’s advocate - here is why your latest idea will fall apart. What is your career advice to a young economics researcher? Take yourself and your work seriously. Don’t play games. It’s not about getting published or getting this or that job or promotion or impressing people with technique. It’s about writing things that people care about, in the simplest most transparent and honest way. Treat others as you wish to be treated. To read more of our insights into economics, download our Handbook for free! ➲ Download the Handbook now Header Image Credits: Marcel Fratzscher / DIW and John H. Cochrane (kindly provided)
Esteemed economist, blogger and friend of INOMICS, John H. Cochrane, kindly took time out of his busy schedule to take part in our Handbook questionnaire. However, this was no regular questionnaire, far from it. At its helm, assuming the role of quizmaster was none other than Mr Marcel Fratzscher: president of the DIW Berlin, and one of Germany’s leading voices in macroeconomics. Such is the reputation of these heavyweights we dubbed the encounter ‘Fratzscher v Cochrane’ – our personal nod to the pair’s professional standing.
Applying to Summer School and How To Make The Most out of Your Summer School Experience
If you're planning on applying to a summer school for economics this year, check out our insight into the top summer schools in economics. Applying to summer school It may sound obvious, but summer schools will have a deadline for applications. With a hectic end of term period that often includes both exams and coursework, it can be easy to forget about the deadline and miss out on a school. Application forms can also be long, arduous endeavours that require a bit of time and effort, so be prepared to put a little time aside to get these done, especially if you're applying to more than one school. Make sure you pick a course that you're going to be engaged in and that interests you academically. For instance, you could apply for a subject you already know a little about in order to deepen your understanding. On the other hand, you might want to pick something you know nothing about in order to learn something new. Bear in mind if you choose to pick a new class that the amount of new information you'll be learning might be overwhelming, so you'll want to keep it manageable. Many schools won't teach for a full school day, but just four hours, for instance, over the course of a month - and the subject you pick will determine how long you'll be learning for. (Humanities often have fewer contact hours but more reading outside of the course; sciences may be heavier in actual teaching.) Also consider heading abroad to study. Needless to say there are excellent summer schools across the globe, and, if you can afford it, you'll get to experience a new place, meet new people, and potentially even learn a little of a new language. How to afford a summer school Summer schools often come with a hefty price tag. Your home institution may not always be able to offer you funding, but that doesn't mean the opportunity is off limits: there are are a lot of places from which you can secure a stipend or a grant. For North Americans, here’s a list of options put together by the American Economic Association. For those looking to take courses in Europe, the many scholarships offered through sources such as the German Academic Exchange Service (DAAD) or Erasmus can be quite helpful. Otherwise, don’t forget to look outside your own department for institutional grants or scholarships offered university wide. There's also the choice to take out a private loan in order to afford it. This can be risky due to high interest rates, but it may be an option for you if you're sure you'll be able to pay it off. Then there are the obvious ways like finding a job that will help you pay for it or looking for schools that offer discounted rates or financial help - many of these exist. Finally, many universities offer online courses, which allow you to work while you study or live at home, thereby saving money on accommodation and living expenses. Some may even offer similar courses for free - consider Coursera, that offer programmes from some of the top institutions around the world, and are free if you don't need any accreditation but just want the knowledge itself. Preparing for summer school Preparation before summer school is an essential part of the experience. It's important to know exactly what you're going to be doing during your time there, and to set the right goals for yourself. What do you want to get out of your summer school experience? What do you want to take away from it? Questions like these will help you make the most of your experience. Some summer schools may expect you to do some reading before the course actually starts. Materials will often be made available online by the teacher in order to bring students up to speed on the topics that will be covered and to fill any gaps in the necessary knowledge for the school. It scarcely needs to be said that it's important to read these materials; it means you'll be prepared for to begin the course with some background knowledge that will help you make the most of the experience. Learning during summer school Learning is best enjoyed as a collaborative experience, so you'll get more out of teaching if you are engaged with and encouraging towards other students. Ask for their opinions on the material you're learning, find out about their topics of interest and tell them about yours. Summer schools can be less formal and more discursive than most university teaching, so there's also more chances to discuss with the lecturers and to share your own opinions. Be bold, ask questions, and venture into topics you're not so familiar with, and you'll gain much more from your summer school experience. Summer schools are often more intense as the classes are generally smaller. This means you'll have more one-to-one interaction with the teacher, something that can be valuable especially if you're learning something from scratch. Having that direct interaction with a teacher can be really useful in broadening - or deepening - your understanding of a topic, not to mention looking great on a university or PhD application. Specific skills you can learn from summer school Summer schools often offer the chance to learn skills specific to your discipline, such as experimental techniques, statistical analysis, or programming languages. If you're hoping to gain a new skill in your summer time, it helps to do some preparatory reading and practise before you attend, so that you can be sure you've mastered the basics. That way, you can use your time with the lecturers or instructors as constructively as possible, getting their help on the kind issues which require specialist knowledge you won't find elsewhere. These are all hard skills, of course, but summer schools can also provide important soft skills that won't only help you in academic but also in other aspects of your life like when applying for jobs. A summer school's a challenging discipline that will improve your confidence, your presentation technique, your discussion ability and potentially give you insights into the lives of a diverse range of people. Plus, you'll be able to put the experience on your CV, helping to attract potential employers. All these soft skills are invaluable out there in the 'real world' and shouldn't be taken for granted. Research-based summer schools Some summer schools will be geared towards working on one research project over the summer, under the supervision of faculty. This will give you the chance to see and participate in a professional research environment, and can be an invaluable experience when planning your own future research. Remember to take plenty of notes on each stage of the project; try to find out what role each researcher plays and what skills they work with. This information will be a great guide for you if you undertake independent research of your own. Networking during and after summer school An important aspect of summer schools is making contact with other students and professionals in your field. You'll have the chance to talk to people from all over the world who are working in your topic, to hear about their work and to tell them about yours. Do be friendly and approachable, and prepare a quick one or two minute introduction to yourself and your work for when you're asked. Remember to collect business cards or email addresses so that you can follow up with people who you connected with. Summer schools often bring students together from around the world, meaning you'll create networks in different countries and hear perspectives from people who have lived through different cultures and different educational experiences, something invaluable to shaping your understanding of the world. This effect is double if you decide to study abroad, where you can not only meet people from across the globe, but experience a new culture yourself and maybe even learn a foreign language (depending on where you go). Mentoring and careers advice from summer school You'll also have the chance to connect with senior members of your field who can share their insights into their career progression and help you to plan out your future. Some schools offer mentoring, where an independent experienced person in your field can offer support in your career development. Even if your summer school does not have such a program, you'll still find plenty of people who are happy to give advice. Good topics to ask for advice on include the skills that are essential to their job, what kind of roles they had before their current job, and what aspects of their work they particular like and dislike. This can be the perfect chance to gain insight into the day to day work of great researchers and professors. Aside from this, anyone you meet during a summer school becomes a potential contact and part of your network. Staying in touch with professors and experts means you'll have a point of contact in the future in case you need a potential recommendation or simply someone to help you with general information about life in academia. Social activities and fun during summer school Don't forget that in addition to being great learning opportunities, summer schools are also a chance to have fun! Find some time to explore the local area where you're staying – sight seeing, hiking, eating out in restaurants, sports and group activities are just some of the options that may be available. Many summer schools will offer organised social activities like trips, meals or drinks, where you can get to know other students and faculty in a more relaxed atmosphere. These can be a great chance to get out of your shell and relax after you've been hard at work, so enjoy yourself! Remember that any friends you make during your summer school experience will also become a part of your network, meaning you'll have useful contacts that may be able to help you in the future - or at least, a floor to sleep on if you're ever in their area. Finally, remember that these are summer schools, and as such shouldn't be putting you under too much stress or pressure. Don't take on too much work or force yourself to take too many courses. It's obviously important to take time for yourself over the summer break, to recuperate before the academic year begins again and to get out and enjoy the sun (if it shows itself!).
If you're interested in attending a summer school this year, now is the time to start planning. Deadlines are approaching soon, so check out our series of posts on the top summer schools by discipline to find the best summer school opportunities in your subject. Here are some of the ways that you can make the most out of your summer school experience, during both the application period and once the course actually starts.
Browse our PhD listings for more opportunities This emergent brand of patriotism is just one in a long list of certainties the World Cup will be serving up; the menu year to year, comfortingly, rarely changing. That said, given the propensity of every nation to hugely inflate its own chances pre-tournament, each will be met with a familiar mixture of disbelief, outrage and eventually depression. The scenarios we still have to enjoy, in no given order, will include: an England exit (on penalties, naturally); a disappointing Argentina (and subsequent referendum on Messi’s psychological fortitude); and a plucky underdog, whose fearlessness steals the hearts of all neutrals, but whose hopes are cruelly dashed when knocked in the quarters - presumably by an offside goal inexplicably missed by VAR. And yet, despite knowing all this, we wait, as always, with bated breath. Recent History Regrettably, in recent years the host nation losing out financially has become almost as predictable as the above; this outcome though, the loss of billions of dollars of taxpayers’ money is less amusing, and its effects far longer lasting, than the odd England penalty miss… With Russia having committed a reported $11.6 billion for this year’s incarnation, questions have once again been swirling as to the financial viability of hosting football’s greatest prize. The widening economic consensus on the topic is that approaching hosting duties as a financial investment to be followed by commensurable returns is foolhardy, at best. Casting an economic eye over the experience of the last few hosts provides ample evidence to support this theory, undermining, in the process, the age-old maxim that economists are simply ‘bad sports’. The 2014 world cup in Brazil is perhaps the case in point. Four years on from what by footballing standards was a huge success, and the post-festa hangover is still being keenly felt. The Numbers According to the Harvard Business Review, the country’s preparations cost an estimated $11-14 billion dollars, a sizable chunk ($550 million) funding the construction of Brasilia’s Estadio Nacional – rather symbolically, now used as a bus parking lot. Put into context, such outgoings, if redirected, could have paid for the country’s annual social welfare bill twice over. Of course, comparisons of this kind are immaterial if the investment had given sufficient returns. Alas, until now this has not been the case. Rather, its economic impact is expected to be at it’s very - and most unlikely - best around $13 billion, while its lowest estimate stands at a paltry $3 billion. There are some very basic economic reasons for this shortfall, which, in addition to Brazil’s relative lack of pre-existing infrastructure, diminished from the outset the chances of the country turning a profit. The most obvious, and aforementioned, is the cost of sporting infrastructure – stadia do not come cheap. Even when constructed, maintenance costs can spiral, especially when, like in Brazil’s case, they cannot be used regularly enough post-tournament to cover the costs of their own upkeep. This, unfortunately, is also the enduring legacy of the 2010 World Cup in South Africa, where, as explained by Reuters, 9 out of the 10 stadiums built or renovated for the tournament – a process which made up a quarter of the overall budget – are now in the red, with overheads falling on often ‘cash-strapped’ municipalities. In some areas financial plight has been so severe, guilt-ridden officials have resorted to talking up the ‘non-tangible’ benefits the tournament afforded - not always the best consolation for those without basic social amenities. As a result, both Brazil and South Africa have experienced much of debate, conducted with some stridency, as to whether it would have been more humane to have simply invested directly in their respective communities most in need. A common counter to this has been that government spending tends to prompt a rise in Gross Domestic Product - a key indicator of national economic performance. However, this can often be unevenly felt and short-lived; the effects of little consequence to the median worker. In response to increasing global inequality, the OECD has recently put forward that emphasis is better placed on ‘inclusive growth’; spending that attempts to deliver economic growth whilst fostering widespread and sustained improvements to living standards. Sporting infrastructure is not conducive to this goal. Beyond the fact that a stadium is not integral to the fundamental well-being of the common man, they routinely take up scarce and highly sort after real estate. Boost to Tourism? A boost to tourism, one of the favoured arguments adopted by prospective hosts, also begins to look dubious under closer inspection. Yes, events of such magnitude attract huge numbers of fans for the period in which they run, but they also disrupt existing flows of holidaymakers, and in many cases put people off visiting for fear of overcrowding. Even when numbers do increase it may not lead to a ‘Pareto’ gain due to the associated costs from which the increase is procured. South Africa, again, provides a prime example. As the World Economic Forum explains, although failing to match the anticipated 450,000 tourists, South Africa did experience a ‘visitor spend increase of over a quarter’ during the World Cup period; this was, however, offset by the acquisition cost of an estimated $13,000 per visitor. Enough, as the forum points out, to have ‘paid the wages of the entire working population for a week’. Brazil too didn’t experience the boost to its tourism industry it had anticipated, and importantly, had been factored into its costing. Scholar, Mirele Matsuoka De Aragao, in his report on the ‘Economic Impact of the World Cup’, estimated that increased tourist revenue, in the time since, amounted to only 2.5% of the total governmental investment. And, the boost in the number of tourists lasted for only 3 years following the tournament’s close – both, particularly bleak figures. Despite the above, as damning an analysis as it may sound, the World Cup and similarly large-scale events like the Olympics can still be profitable, a prime example the London 2012 Olympics, which brought in revenues that exceeded $5 billion. Its success was attributed to a combination of meticulous planning and high-quality, pre-existing infrastructure. The Flip Side And yet, it should be remembered that assessment based solely on economic figures, growth and the like, only tells one side of the story. The events themselves create things immeasurable: memories, pride and unity, things that, when established in fractious settings can be of untold benefit. South Africa bears out this point. Having suffered the injustices of Apartheid rule for 46 years, that 91% of residents believed the World Cup had a unifying influence cannot be underplayed. Evidently, it is not always all about the money… Browse our job listings for more opportunities
With the world cup now over a week old, we have reached the moment when even those initially reluctant, those who decried it at its outset, give in to football frenzy and find themselves, at least twice a week, standing amid a crowd of similarly dressed strangers, screaming at 11 little men on a screen they can barely see. It is wholly inevitable, and few would disagree, thoroughly enjoyable.
We’re accredited by the Association to Advance Collegiate Schools of Business (AACSB International), which puts us in the top 5% of business schools worldwide. AACSB-accredited schools produce graduates who are highly skilled and more desirable to employers than other non-accredited schools. We’re also ranked alongside Stanford, Harvard and Berkeley among the Top 25 Most Innovative Schools. To qualify for the Master of Accountancy program, you must meet the following criteria: Fundamentals: A 4-year bachelor’s degree in any field from a recognized college or university Practitioner: A 4-year bachelor’s degree in accounting or equivalent coursework, including intermediate accounting, audit, cost/managerial accounting and taxation.* GMAT waiver available for this track only. Cumulative undergraduate GPA of 2.75, or 3.0 in the final two years Minimum score of 500 on GMAT In addition, you must provide the following: Online application and $35 non-refundable application fee Official transcripts from every institution where coursework was completed Statement of goals Three references** For international students: Satisfy the School of Graduate Studies’ English language proficiency requirements International applicants who have received their bachelor’s or master’s degree in the United States or English-speaking Canada are not required to submit the TOEFL or IELTS
The field of accounting is one of the strongest sectors in the global economy, which is why quality accountants are always in demand in every industry. In fact, the number of accountants, auditors and CPAs across the country is expected to grow 10% from 2016 to 2026. Our master’s program allows you to build your foundation in accounting through our online fundamentals track or hone your advanced analytical skills with our online practitioner track. Both can prepare you for leadership in the dynamic accounting field and to sit for the CPA exam. Study topics ranging from business law for accountants to accounting systems and business intelligence. Our online accounting master’s program is offered through the College of Business & Public Administration — the largest, and first accredited, business school in North Dakota. UND accountancy students consistently beat the national average on all four parts of the CPA exam, with nine being awarded the prestigious Elijah Watts Sells Award.
How To Apply For Research Funding: 10 Tips For Economists in Academia
1. Apply early One important tip to remember is that the assessment process for funding applications can often take 6 months or longer. And some funding opportunities may only accept applications once per year. So, if you’re hoping to get funding, you need to check the deadlines and apply early on. It’s best to start preparing several months before a deadline to be sure you have everything ready on time. 2. You will need letters of recommendation One of the reasons you need a long time to prepare a funding application is that you will need letters of recommendation. In addition to your project proposal and letter of motivation, it’s common to require one to three letters of recommendation as part of your funding application. So think of which supervisors or colleagues know your work well and could speak positively about you, and ask them for a recommendation letter ahead of time. 3. You can apply to several funders with the same project A funding application is a lot of work, and you’re not guaranteed to be successful. However, you can improve your chance of receiving funding by applying to several funding bodies simultaneously. Some funding applications will ask if you are applying with the same project elsewhere, but it shouldn’t be a problem to say yes. If these simultaneously submitted proposals are forbidden by the funder you’re applying to, they will say so on their website. 4. Demonstrate you have the skills required to perform the research you propose One aspect of funding applications which is often overlooked is not just describing the project you intend to work on but demonstrating how you personally are suited to perform the research you propose. You need to give information about the research you have performed in the past to show that you’re capable of completing the new project. For example, if your project requires a lot of data analysis work then you should mention previous projects you have completed and talk about your experience with statistics for the best chances of winning funding. 5. Consider applying to bodies which offer funding outside of economics When you’re working in economics, it’s natural that your first thought would be to apply for funding from economics organisations. However, depending on your area of research, you may be eligible to apply for funding from bodies in the fields of politics, international development, or mathematics. Have a think about what other fields your proposed project might fit into. This can be especially fruitful if you have colleagues in those fields with whom you could collaborate for the best demonstration of interdisciplinarity. 6. Prepare a budget for your project As part of your funding application, depending on the organisation you apply to you may need to include a budget. Funding usually covers your research expenses, possibly a salary for assistants or research workers, and a salary for yourself. You need to account for typical salaries and the expenses you foresee incurring as you work on your project. Your budget needn’t be totally finalised or too detailed, but you should list your key expenses and estimates for the cost of each one. 7. Show the social relevance of your proposed research Another important factor to include in your proposal is the social relevance that your work will have. Social relevance is a key factor in deciding who is awarded funding, especially when you are applying to a government body. As you are in economics, there may a direct relevance of your work to government policy, which you should emphasise for the best chance of successfully receiving funding. If you can directly show how your work will benefit the government or save it money, even better. 8. Take a grant writing course If you’re currently a PhD student or postdoc, there may be soft skills courses offered by your university which you can take. If there is a grant writing course of half a day to a couple of days, then this can be a very efficient way to learn about the basics of funding applications and get some practice at writing project proposals. You can also bring along any funding applications that you are currently working on and get helpful feedback from the course leader and your fellow attendees, which is a great way to gain experience. 9. Don’t make your proposal too technical and do make it easy to read Remember that although your project proposal will be assessed by fellow economists, the assessors may not be experts in your particular area of research. Your proposal may be assessed by people who are not experts in your particular sub-field, so make sure it’s comprehensible. You can achieve this by avoiding jargon terms and including a brief introduction to the topic in your proposal. If you’re unsure, show your proposal to a fellow economist with a different speciality from you and see if they can grasp the fundamentals of your project. 10. If you are rejected, don’t despair You can always try again next year It’s very common for funding proposals to be rejected, even if the research proposed is good. Perhaps the funding organisation had a high number of proposals this year, or they are concentrating their funding on a different area of research. If your funding application is not successful the first time, don’t despair. Funding applications are highly competitive, and you may need to apply several times before you are successful. If your application is rejected, you can take your research proposal and improve it according to reviewers’ suggestions, then apply again next year. Remember that winning funding can take several cycles of application, so keep trying and don’t give up! Find the above helpful? Well, for a whole lot more career and study advice download the INOMICS Handbook in its entirety! It is free for all and just a click away! ➲ Download the Handbook now! Header Image: Copyright INOMICS (Photographer: Christy Ioannidou)
Applying for funding is a major part of life for every academic, so it’s something you’ll have to be prepared for as you reach the postgraduate stage and beyond. Here are 10 tips for applying for funding as an economist.
What to Do When Your Paper Gets Rejected From a Journal
Consider the feedback When your paper gets rejected, you'll usually receive feedback on why. Typically, you will either get a rejection from an editor, explaining why the paper is not appropriate for the journal that you submitted to. Or, your paper will be sent to one or more peer reviewers who will read over your paper and offer comments to the editor. The reviewers can recommend that an editor rejects the paper if they do not feel that it is up to standard or if it needs more work. In either case, you'll likely get feedback from the editor or from reviewers on exactly why they are rejecting the paper. Some of the most common reasons for a paper to be rejected are that the topic is not suited to the journal that you have submitted to, that the paper does not add to the existing body of knowledge in your field, or that your methods or data analysis techniques are not appropriate to give reliable information about the topic at hand. Whatever the reasons, make sure that you read the feedback in depth and reflect on it. Even if you don't agree with the feedback, it's still important to understand why someone else might have thought that. Once you are clear on what the issue with your paper is, you can start working on making it better. <11an>limit:2;categories:Professor;disciplines:General Economics (JEL A)</11an> See if you can submit again Some journals will allow you to submit your paper again after it has been rejected, as long as you have made substantive changes to it. Other journals discourage resubmission after rejection, on the basis that the editor or reviewers have already seen enough of your work to judge whether it will be an appropriate paper for the journal in questions. Check on the website of the journal or look in the letter you received from the editor to see whether resubmission is possible. If it is possible to resubmit to the same journal, you need only make corrections to the issues raised in your feedback, then you can try submitting again. Or look for a new journal to submit to Alternatively, you can find a new journal to submit your paper to. If you started off submitting to a very high ranked and prominent journal, then you may want to aim for a mid-tier journal for your second submission. Some researchers like to submit to journals with as high an impact factor as possible, and if they get rejected by the top journal then to move on to the second top journal, and so on. This maximises the impact factor that you will be able to achieve with your paper, however, this process takes an extremely long time and can be demoralising. This is why aiming slightly lower for a mid-tier journal can be preferable, as your paper is more likely to be accepted and the submission process won't drag on for months or even years. Leave time for reformatting Don't forget that submitting a paper to a new journal is a time-intensive process. Even if your paper was finalised and submitted to another journal when you send it to a new journal you'll still have lots of work to do. The new journal will probably have new formatting requirements and possibly you'll need to reformat your references too. Plus, there may be a different total word count that you need to adhere to. You might even consider changing the focus of the paper slightly to better match the interests of the new journal you are submitting to. All of this takes a lot of time and effort, so be prepared to take some weeks or months in between being rejected from one journal and submitting to another. Don't give up It's dispiriting to have a paper rejected from a journal, especially when it's a paper that you've worked hard on and are proud of. But remember that a rejection doesn't mean that the paper was bad, only that it wasn't suited to this journal at this time. Plenty of factors affect whether a paper will be accepted in addition to the quality of the paper, such as how well it fits the journal's topic, whether the editor and reviewers you are assigned share your research interests and values, and pure old luck. Keep trying and your paper will find a home soon. Also looking for a job in the world of economics, business or finance? Click here for a comprehensive list of what is currently on offer!
Once you've submitted your paper to a journal, you have to wait to hear a response. Sometimes, your paper will be rejected. If that happens, what should you do next?