Rather than simply copying a list from QS or other global rankings, however, we’ve made a handpicked list of math departments from four continents – North America, Europe, Asia and Oceana. Each of these departments falls within the top 100 worldwide according to diverse ranking systems. In the list below, you’ll find each institution grouped according to geography. If the university you are looking for is not on this list, head to INOMICS, where you’ll find hundreds of other top departments from diverse disciplines. North America Harvard University Cambridge, Massachusetts Massachusetts Institute of Technology Cambridge, Massachusetts Columbia University New York, New York Stanford University Stanford, California University of Toronto Toronto, Ontario McGill University Montréal, Quebec Europe University of Cambridge Cambridge, United Kingdom University of Oxford Oxford, United Kingdom Trinity College Dublin Dublin, Ireland Autonomous University of Madrid Madrid, Spain Pierre and Marie Curie University Paris, France ETH Zurich Zurich, Switzerland University of Zurich Zurich, Switzerland Catholic University of Leuven Leuven, Belgium University of Bonn Bonn, Germany Asia Kyoto University Kyoto, Japan University of Tokyo Tokyo, Japan Oceania Australian National University Canberra, Australia University of Melbourne Melbourne, Australia University of Auckland Auckland, New Zealand Photo source: Ed Brambley
In previous posts we’ve offered you lists of Top Political Science Departments Worldwide and Top Economics Departments in Spain, Latin America and Europe. In this post, we’re shifting our focus from the social sciences to highlight the best math departments around the globe.
Econometrics, Statistics and Quantitative Methods (JEL C)
Top Political Science PhD Programs in Europe and the United States
While there are of course many other great programs around the world, such as those at the University of Tokyo and Australian National University, we feel that the abundance of top schools in Europe and the U.S. necessitate a list of their own. Each of these programs falls within the QS Top 100 list for political science departments. The order listed below, however, reflects geographical location rather than ranking, with the European institutions preceding the American. Degree TitleUniversityLocation 1) PhD in GovernmentLondon School of Economics and Political Science (LSE)London, United Kingdom 2) DPhil in PoliticsOxford UniversityOxford, United Kingdom 3) PhD in Politics and International StudiesCambridge UniversityCambridge, United Kingdom 4) PhD in Political ScienceTrinity College DublinDublin, Ireland 5) PhD in Political ScienceSciences Po ParisParis, France 6) PhD in International Relations/Political ScienceThe Graduate Institute GenevaGeneva, Switzerland 7) PhD in Political ScienceUniversity of MannheimMannheim, Germany 8) PhD in Political Science and GovernmentAarhus UniversityAarhus, Denmark 9) PhD in Political ScienceUniversity of CopenhagenCopenhagen, Denmark 10) PhD in Political ScienceLund UniversityLund, Sweden 11) PhD in Political Economy and GovernmentHarvard UniversityCambridge, Massachusetts 12) PhD in Political ScienceYale UniversityNew Haven, Connecticut 13) PhD in GovernmentCornell UniversityIthaca, New York 14) PhD in Political ScienceColumbia UniversityNew York, New York 15) PhD in PoliticsNew York University (NYU)New York, New York 16) PhD in PoliticsPrinceton UniversityPrinceton, New Jersey 17) PhD in Political ScienceGeorgetown UniversityWashington, D.C. 18) PhD in Political ScienceUniversity of California, BerkeleyBerkeley, California 19) PhD in Political ScienceStanford UniversityStanford, California 20) PhD in Political ScienceUniversity of California, San DiegoLa Jolla, California As always, head to INOMICS to browse through these and many other PhD, Master’s, MBA and summer school programs. Photo credit: Wesley Fryer
Although summer is just getting underway in many parts of the world, fall application season is waiting just around the corner. Whether you’re a recent graduate or a professional looking to step back into academia, finding the right PhD program is not always an easy process. For that reason, it’s important to start reviewing your options early. In a post a few months back we highlighted the global Top 20 Political Science Departments, and in this post we’d like to narrow that list to the graduate level while focusing specifically on Europe and the United States.
How Does Studying Abroad Help Your Job Prospects?
Even American students seem to be finally recognizing the many reasons to venture beyond their borders, as an increasing number are heading to Europe, Asia and elsewhere for extended stays. For U.S. students, the lower cost, shorter length of programs and diverse course selection can all act as added incentives for earning a degree abroad. Yet, amongst the many articles citing the importance of such a move, few discuss the other side of the coin – what to do after you’ve earned your degree. In short, graduates have three choices: stay in the country where they’ve studied, move to another new country or return to their home country. While the second option might seem unusual, it’s actually far more common for people to move to a second (or third or fourth) country once they’ve made the initial move abroad. To encourage the first option, numerous countries, including Australia, New Zealand and Germany, offer international students special work visas upon graduation. In an effort to quell the potential effects of brain drain, countries such as South Korea, China, India, Pakistan and Mexico all offer various incentives to highly educated individuals if they come home after graduation. Regardless of whether you head back to your home country or remain abroad, the transition from university to the work world can be challenging. Adding the further complication of (reverse) culture shock, language barriers or visa issues might seem simply overwhelming. Yet, it’s important to remember that there are many resources to help you in this process. The use of global employment networks such as INOMICS can help you look for work around the world, rather than simply focusing on one country. If you do plan on heading back to your home country after graduation, don’t be afraid to make use of your alumni association or other groups to help you settle back into your country of origin. When searching for a job, keep in mind that what you’ve learned abroad can offer you a strong advantage over other candidates. Don’t hesitate to emphasize not only the concrete aspects of your education, but also the skills you’ve learned, such as cross-cultural communication, multilingualism, independence and empathy. Moreover, it’s important to remember that international education can be put to use in a wide range of fields. Most national governments value candidates who speak multiple languages and have experience abroad, so jobs in policy and politics are definitely a good option. Relatedly, think tanks and other research organizationsvalue not only the aforementioned skills, but also the soft skills of intercultural competence and a diversity of perspectives. On the international level, NGOs and international organizations put a strong premium on candidates with previous experience in international settings. Regardless of where you are, skills in international business, management or finance make you a top candidate for banks and investment firms,multinational businesses, as well as international law firms. In summary, no matter where you’re applying, international experience can boost your chances for employment on a number of scales. Remember to highlight both your hard and soft skills and think broadly when searching for the next step along your professional path. Photo credit: simlinglin99
With the global flow of students higher now than ever before, there is an abundance of advice available regarding the benefits of studying abroad. Whether for a semester or a full degree, studying in a foreign country can boost your CV, help you learn a new language, expand your cultural understanding and allow you to create a worldwide network of friends and colleagues.
Who Will Win the 2014 World Cup? Econometrics Can Tell Us
According to the “PwC World Cup Index,” key factors predicting a top spot in the championship include the number of professional players in a given country, national interest in the sport, long-term tradition and the recent standing of the team. Yet, the relative weight of each of these and other variables is not always easy to quantify. Moreover, there are other factors, including home team, and even home continent advantage, that are thrown into the mix. Alongside the PwC report, a number of other organizations have delved into the prediction game, including Deutsche Bank and The Economist. For the fifth World Cup in a row, Goldman Sachs also produced a lengthy statistical analysis. Their report, “The World Cup and Economics 2014” uses a stochastic model to create predictions for each of the 64 potential matches that could be played, thereby creating a probable ranking of each team. Each report draws on historical and contemporary data to create their models, leading to the same conclusion – injury and error aside, Brazil should prove victorious. The PwC report highlights the fact that odds are consistently in favor of European and South American teams, though no European team has ever won when South America was hosting the World Cup, and Brazil is the only South American team ever to have won in Europe (in Sweden in 1958). Interestingly, both the U.S. and England are what they call “perennial underachievers,” as their overall rankings should have led to far more World Cup wins than history has shown. This year is unlikely to buck this negative trend, however, as neither team is predicted to advance beyond the first round. Yet, as the Goldman Sachs report points out, these models do not account for injury, illness or other unpredictable factors. So while econometrics tells us that the final game will pit Argentina against Brazil, perhaps a fluke accident or a few bad passes will allow other teams to sweep in and compete for the number one spot. If you find yourself stumbling over the basic rules of the game, much less the econometrics of who might win, take a look at this article on the 10 things you need to know in order to understand the World Cup. Like the Olympics, the World Cup offers both die-hard fans and novice viewers a chance to come together and enjoy watching. So read up and enjoy the fun!
In a post about the Olympics this past winter, we mentioned research linking the economic development of a country to its chances of taking home a large number medals in the Games. While it might seem reasonable to extend this logic to the World Cup, in-depth econometric and statistical analysis indicates otherwise. So how can we best predict who will come out on top in this year’s World Cup?
Top Economics Master’s Programs in the United States
Whether you’re interested in economic policy analysis, international and development economics or applied economics, the list below includes a program for every type of econ student. Each of these programs offers a terminal Master’s degree, meaning one that is not part of a PhD program. To browse these and other options, take a look at the comprehensive listings from around the globe on INOMICS. To build the list below, we first turned to international ranking schemes, but found those to be lacking, which is a topic we discussed in a recent blog post. Thus, this list represents programs at well-respected universities across the country, but the order simply follows geography rather than adhering to any kind of systematic ranking. MA in Global Development Economics, Boston University Boston, Massachusetts MA in International and Development Economics, Yale University New Haven, Connecticut MA in Economics, Columbia University New York, New York MA in Economics, New York University (NYU) New York, New York MS in Applied Economics, Johns Hopkins University Baltimore, Maryland MS in Applied Economics, Georgetown University Washington, D.C. MA in Economics, American University Washington, D.C. MA in Economics, Duke University Durham, North Carolina Master of Applied Economics, University of Michigan Ann Arbor, Michigan MS in Economics, Purdue University West Lafayette, Indiana MA in Economics, University of Texas at Austin Austin, Texas MA in Economics, University of San Francisco San Francisco, California Photo credit: Beraldo Leal
While many recent Bachelor’s graduates are debating the choice between entering the job market and embarking on a PhD (take a look at this post if you find yourself in this position), it’s important to remember that there are a number of top-notch Master’s programs in economics out there as well. We recently offered you a list of Erasmus Master’s programs, but in the current post we’ll shift focus to the United States, where stand-alone Master’s programs in economics are gaining both prominence and popularity.
Which English Language Exams to Take for UK Universities and How to Study
While there are countless English language exams on the market, the most commonly accepted tests include the Test of English as a Foreign Language (TOEFL), the Cambridge Certificate of Proficiency in English (CPE), the Certificate of Advanced English (CAE) and the International English Language Test System (IELTS) exam. Regardless of which test you sit, you should review the individual components of the exam a few weeks or even months prior to test day. It is also helpful to read, write and speak in English on a regular basis for at least a few days prior to the exam in order to make the switch into English more fluid. For more on studying, take a look at the tips at the end of this section. Below we will offer you more detailed information about each of the exams mentioned above. TOEFL The TOEFL is owned and operated by ETS Global, the same education management company that runs the GRE. While this test can be taken in numerous forms, the most current is the TOEFL iBT, or internet-based test. This format has progressively replaced the computer-based and paper-based tests. The full exam takes approximately 3–5 hours and is divided into four sections, with a mandatory ten-minute break in the middle. The test is comprised of reading, listening, speaking and writing components. The topics used to test reading and listening tend to be academic in nature in order to test students’ comprehension ability. The type of English spoken and written in this exam is primarily North American English. The TOEFL iBT is scored on a scale of 0 to 120 points, with each of the four sections being granted between 0 and 30 points. Most postgraduate programmes require a minimum TOEFL score of at least 80 points, though the exact number varies by course. CPE The CPE is operated by Cambridge English Language Assessment, which is part of the University of Cambridge. This highly respected exam is accepted not only by UK universities, but also by global companies and other institutions around the world. This exam is based on British English. Cambridge English Language Assessment offers a range of language exams, and the CPE is the highest level possible. The CPE is divided into four sections, including reading and use of English, writing, listening and speaking. The first two sections each last 1.5 hours, the listening section lasts about 40 minutes and the speaking section lasts 15 minutes per pair of candidates. Scoring for the CPE follows the Common European Framework of Reference (CEFR), which ranges from A1 (beginner) to C2 (fully proficient). Students who sit the CPE exam are expected to score within the C1 to C2 range, and receive a certificate stating proof of exceptional English ability if they score a Grade A, B or C within the C2 level. CAE The Cambridge English: Advanced (CAE) exam is the second highest proficiency test that Cambridge English Language Assessment offers. This test is also accepted by a wide range of universities, institutions and companies around the globe. The CAE also tests comprehension of British English. The CAE is split into five sections rather than four, including reading, writing, use of English, listening and speaking. The overall length of the exam is therefore slightly longer than the CPE, totalling nearly five hours. The CAE is also scored along the CEFR framework, and students who sit this exam are expected to score between the B2 and C2 range. Each test taker will receive both a Statement of Results and a certificate upon completion of the exam, providing detailed proof of language skills. Most universities require students to show C1 level proficiency, though the exact grade can vary by institution or even specific course. IELTS The International English Language Testing System (IELTS) is also recognized by universities, institutions and companies around the world. IELTS English proficiency exams are offered at designated testing centres in over 900 locations worldwide, with tests up to four times per month. The IELTS recognizes and utilizes both British and American English grammar, spelling and word choice. IELTS offers two versions of its exam, Academic or General Training. Students interested in applying to courses at UK universities should sit the Academic exam. The test takes just under three hours and is divided into four sections: listening, reading, writing and speaking. Every test taker is given the same listening and speaking components, while the reading and writing components differ between the Academic and General Training exams. The IELTS is hand marked by Cambridge English Language Assessment certified examiners. Test takers receive both a raw score and a band score, which are both based on the compiled mean of each section score. The band scale ranges from 1 to 9, reported in half point increments. Test takers who receive a 9 are deemed Expert Users. Studying for your exam Each individual exam offers a range of customised study materials, including: Work books DVDs Online tutorials Written practice tests Audio practice It is very helpful to become familiar with the format of the test you will sit, so it is recommended that you study using materials specific to that exam. There are free sample questions on the official websites of nearly each exam, so it is also a good idea to take a look at the format and see which makes most sense for you, assuming that where you are applying accepts each of these top options. In addition to using designated study materials, it is also helpful to simply use English on a regular basis in the weeks prior to taking the language exam. For example, you can: Meet with a language tandem partner Listen to or watch English news Read newspapers and magazines Watch movies and television Moreover, asking a native speaker to look at writing samples and point out any major or repeated mistakes can help you focus on your weaknesses and improve your overall skills. Photo credit: Kaplan International English Photo credit: Ken Colwell
In the first section of this advice area we briefly discussed the fact that any international students for whom English is not a native language will need to present proof of proficiency as part of their Master’s course application. Proficiency tests measure the student’s level of language comprehension and capability with the aim of offering a standardized rubric for calculating whether the individual is prepared for postgraduate study in the UK.
Top Apps for Researchers: Social Science Must-Haves
Below we offer a list of various apps that can give you a quick boost in research, writing, studying and keeping your brain active during a long commute or other downtime. Many of these apps have free versions, though for full usage most charge a download fee of at least $0.99. So as not to overlap with previous posts about apps, including the one mentioned above, as well as one solely focusing on apps for iPhone and iPad, we suggest you check out those posts for tips on where to download and search for new apps, as well as links to international news apps. Research focused If you’re heading to class and realize you didn’t download the right articles beforehand, or would just like to do some research on the go, social science databases such as EBSCOhost, Pubget, SpringerLink and JStor all offer handy apps for iPhones and iPads. For the times when you need a quick fact check and don’t want to rely on Wikipedia, the CIA World Factbook and the OECD Factbook both have app versions that offer an array of useful information. To access a wide variety of journals (both Open Access and with paid subscription) on either iPad or Android, BrowZine is a great way to go. If you’d like to search not only articles but also ebooks and other online publications, ebrary offers a comprehensive app for iPhones, iPads and Androids. If you are a student and want to easily access your university’s library on the go, AccessMyLibrary offers an easy way to remain connected on either i products or Android. To search libraries around the world, WorldCat mobile allows you access to nearly any title you can think of, while also highlighting top libraries. A great resource for free general interest books is Project Gutenberg, which offers over 40,000 titles for download, straight to your mobile device. Study focused For taking notes in lectures or on your own, apps like iAnnotate, Notability and GoodNotes are all great options To help keep everything organized, myHomework offers a free and very user-friendly planner specifically for students If flashcards are your thing, Smart Flashcards offers a free app for iPhone and iPad, with customizable digital study cards We hope you found some helpful tips in this list! If you think we missed any important apps, feel free to leave a response in the comments section here or on Facebook.
In a post on Top Apps for Economists, we noted that the word “app” was becoming integrated into our daily lives. I’d say it’s achieved a solid place in contemporary vocabulary. Yet, while you may not think twice about using an app to check a train schedule, buy a movie ticket or peruse Facebook, you still might not be aware of the plethora of great academic and professional apps available as well.
Online Courses for Professional Development or Continuing Education
In the digital age we live in now, however, the range of options for online professional development has expanded exponentially. Now, even if you don’t live in a location with great continuing education resources nearby, you can easily tap into the top-notch online opportunities available to professionals around the world. There are numerous well-renowned universities that offer myriad professional development courses, many of which provide certificates of completion. Additionally, there is also a growing number of online only schools and organizations that offer courses specifically to professionals. Among these, some offer courses free of charge in the name of open access education. In previous posts we’ve focused solely on free online courses in particular disciplines, such as statistics and data analysis, mathematics and econometrics, as well as delving into MOOCS, or Massive Open Online Courses. While we find free knowledge sharing incredibly valuable, unfortunately free resources aren’t always sufficient. For this reason, we have highlighted the schools and organizations that offer free courses, but also recommend taking a look at the other courses if you are interested in professional development, particularly if you would like to earn an end of course certificate. Below you can find a two-part list, beginning with university-based online courses and ending with online only resources. The number and type of courses ranges widely, meaning that you can likely find almost any type of course you might be looking for. Courses offered through universities often follow the semester calendar, while other courses might be shorter, more intensive or allow participants to pick their pace. University based: Cornell University – focus on communications, business, finance and healthcare Duke University – focus on human resources, legal professions, community development Harvard University – courses across all disciplines and levels Stanford University – courses across all disciplines and levels University of Cambridge – some free courses, many certificate courses across fields University of Oxford – focus on project management, computer science, risk analysis, engineering University of Washington – some free courses, many certificate courses across fields Walden University (a fully online university) – focus on education, management, nursing Online only: AECdaily – short and long courses on diverse subjects Alison – courses across all fields, both certificates and diplomas can be earned ed2go – focus on healthcare, business, IT, design, service industry, management, sustainability Free-Ed.Net – free, non-certificate courses across disciplines Thunderbird Online – certificate-based courses across disciplines Though we tried to highlight top online courses in this list, there are of course plenty of other professional development resources out there. To browse course offerings, head to the INOMICS site. If you think we should have included something that you don’t see on this list, feel free to let us know in the comments below!
Many people who are already years or decades into their careers find themselves wanting to build upon their skillsets and expand their professional qualifications. Perhaps they want to make a career change, feel stuck in a mid-level position but lack the qualifications necessary for advancement, or perhaps they are just interested in gaining new knowledge but don’t have the time or means to head back to school. In the past, people in such situations could enroll in evening or weekend courses at community centers or continuing education departments at local universities.
Conferences in Finance: 15 Events in Summer 2014
Though some of the official registration deadlines have already past, if there is a conference of interest to you coming up, it’s always worth contacting the organizers to see if there are still available spots. The list below is arranged by date, with upcoming conferences on top. European Funds Transfer Pricing for Banks Frankfurt am Main, Germany, 21 – 22 May 2014 12th Annual International Conference on Finance Athens, Greece, 26 – 29 May 2014 Vienna 2nd Economics and Finance Conference – IISES Vienna, Austria, 3 – 6 June 2014 13th EBES Conference Istanbul, Turkey, 5 – 7 June 2014 Ionnina Meeting on Applied Economics and Finance – IMAEF 2014 Corfu, Greece, 12 – 13 June 2014 International Finance and Banking Society (IFABS) 2014 Lisbon Conference Lisbon, Portugal, 18 – 20 June 2014 2014 FEBS Conference on Global Trends in Financial Intermediation, Financial Markets, and Financial Modeling Guildford, United Kingdom, 21 – 23 June 2014 4th Islamic Banking and Finance Conference (IBF 2014) Lancaster, United Kingdom, 23 – 24 June 2014 2014 Asian Finance Association (AsianFA) Annual Conference Bali, Indonesia, 24 – 27 June 2014 2014 Workshop “Coping with Risk in Transnational Financial Markets” Oldenburg, Germany, 3 – 4 July 2014 Operational Research in Financial and Management Accounting Barcelona, Spain, 13 – 18 July 2014 3rd International Symposium on Business and Social Sciences (3rd ISBSS) Sapporo, Japan, 22 – 24 July 2014 Finance and Economics Conference 2014 Munich, Germany, 13 – 15 August 2014 Recent Advances in Mutual Fund and Hedge Fund Research Berlin, Germany, 25 – 26 2014 8th International Conference on Currency, Banking and International Finance – The Role of Financial Sector in Supporting the Economic Recovery in CEE Countries Bratislava, Slovakia, 10 – 11 September 2014 As always, this is by no means a comprehensive list. There are many more great conferences on finance and other disciplines taking place this summer all over the world. To browse other listings, head to the INOMICS site. Photo credit: Official GDC
Last year, we offered you a list of 10 finance conferences worth attending in 2013. Now, with summer just around the corner and conference season already underway, we want to make sure you know which conferences to register for ASAP and which to have on your radar for the coming months. With finance such a hot topic across the world right now, we’ve expanded our list to 15, while limiting the time frame to the summer months. Towards the end of the summer we’ll post another list for fall and winter conferences.
Web Rankings for Universities: How to Secure a Top Spot
The “Webometrics Ranking of World Universities” was developed in the Cybermetrics Lab at the CSIC, the largest public research body in Spain and one of the first research organizations in Europe. This new system of university ranking uses quantitative methods to analyze various indicators including social networks, web resources, scientific communication via electronic journals, scholarly activity on the internet, search engine positions of domain names and web log files. Since 2004, the Cybermetrics lab has been building their database and performing transparent, independent analysis regarding the web impact of universities around the world. Cybermetrics underscores on their website that the aim of their ranking system is not to compare institutions based on website popularity or number of unique visitors, but rather to promote the Open Access initiatives for increasing the availability of scientific knowledge. With the rise of distance learning and online courses, a clear space for knowledge sharing can set a university apart from its peers. So how can you enhance your position on this up and coming ranking system? Many university faculty are happy to share their papers and research with interested parties, but don’t regularly do so without prompting. Here are a few ways to increase your internet visibility in the name of knowledge sharing and securing a good spot on the Webometrics Ranking: Encourage professors and researchers to make their work publicly available Make sure all websites are up to date, including CVs and links Create clear spaces for open access content: share lectures, papers, reports Provide platforms for students to share their work and interact with each other Finally, Webometrics Ranking is not without flaws – for instance, they only use the top 500 institutions from a given country, meaning that universities with vast resources tend to head the ranking lists, as they do the traditional lists. Cybermetrics does offer comprehensive breakdowns by region, however, allowing for detailed comparisons within any given part of the world. For instance, while Harvard may have snagged the global number one spot, it’s quite useful to be able to narrow your search and note that the University of Sao Paolo leads the pack for Latin America, or the National Taiwan University for Asia. We predict that this type of ranking will gain importance as global connectivity continues to increase, so it’s time to be proactive and put your institution on the Webometrics map!
While everyone knows how important a good spot in the major rankings lists can be for recruiting top-notch students, another type of ranking is gaining in momentum that deserves widespread recognition as well. In the digital era we find ourselves in, it’s only appropriate that cyber rankings be given weight within a school’s overall reputation. To do well on this scale means more than just having a flashy website, however; it means creating a user-friendly, active and interactive online presence for your institution, while retaining staff who publish widely and share their work and ideas with the public via online platforms.
Entrance Exams for Applying to a Master’s Programme in the UK
While the GRE is not required across the board in the UK (as in the United States or Australia) applicants to courses in certain disciplines, including economics, may be required to send GRE scores. Below you can find key information about the GRE, followed by information about the GMAT, which is required by most business schools. You can then find information about other exams that are generally required for undergraduate studies in the UK, which may still be of interest to international students. GRE If the Graduate Record Examination, or GRE, is required for a course to which you are applying, be sure that you have taken the test no longer than five years ago, as older scores are purged from ETS Global’s records each year, making it impossible to retrieve or send on your scores. Even if you have copies of older scores, most programmes will not accept them. Alternately, if you are planning on sitting the exam just prior to sending in your application, be sure to leave at least six weeks for processing. Take a look at this report for more information about exam deadlines. The GRE is available around the globe in both computer and written formats. Regardless of which format you take, the test is comprised of three sections: verbal reasoning, quantitative reasoning and analytical writing. The first two sections are scored on a scale between 130 – 170 in one point increments, while the analytical writing section is scored on a scale of 0 – 6 in half point increments. GMAT If you are applying to an MBA, nearly every programme requires the Graduate Management Admissions Test, or GMAT, which is used by business schools around the world. Certain business schools will allow applicants to send GRE scores in lieu of GMAT scores, but this is uncommon. The GMAT is a timed test, taking 3.5 hours to complete. It is comprised of four sections: analytical writing assessment (30 minutes), integrated reasoning (30 minutes), quantitative reasoning (75 minutes) and verbal reasoning (75 minutes). Each section is scored individually, with a total score between 200 and 800. Two thirds of individuals who take the GMAT score between 400 and 600. UKCAT/BMAT To apply for a degree in medicine, you may also have to take additional exams. Most students applying to study medicine in the UK are now required to sit the United Kingdom Clinical Aptitude Test (UKCAT), and certain universities also require the BioMedical Admissions Test (BMAT). The UKCAT is comprised of five sections meant to test aptitude rather than academic achievement. The sections include: verbal reasoning, quantitative reasoning, abstract reasoning, decision analysis and a separate test of situational judgement. The UKCAT can be taken online at specific testing centres around the UK. LNAT Studying law in the UK begins at the undergraduate level, meaning there is no specific postgraduate entrance exam. If you are interested in studying law, however, you will most likely have to sit the National Admissions Test for Law, or LNAT. This relatively new test was developed in 2004 at the urging of Oxford University, and is now required by nine leading UK universities. Check the specific guidelines of the course to which you are applying in order to find out whether you need to sit this exam. PAT, MAT, HAT, ELAT The Physics Aptitude Test (PAT), Mathematics Aptitude Test (MAT), History Aptitude Test (HAT) and English Literature Aptitude Test (ELAT) are all required by certain universities for undergraduate courses in one of the related disciplines. If you are applying to Master’s programmes in any of these areas, you will not be asked to sit one of these exams, as your Bachelor’s degree is the key qualifying criteria. Photo credit: Kaplan International English Photo credit: shaundon
Most Master’s courses at universities in the UK do not require specific entrance exams, apart from language proficiency exams for anyone who does not speak English as a native language. For an explanation of which English proficiency exams are generally accepted, take a look at the first question in this section.
Rankings for Master’s Programs: What’s Out There and What’s Missing
In previous posts, we’ve looked at overall rankings systems and regional rankings lists for Europe, Asia and Latin America, but we’ve never focused specifically on graduate level rankings. One reason behind this omission is the simple fact that most rankings focus on the university as a whole, rather than differentiating between undergraduate and graduate education. Rankings lists such as Times Higher Education World University Rankings, QS World University Rankings and Academic Ranking of World Universities can offer students great insight into top programs across disciplines and regions, but when it comes to a list of top Master’s programs, it’s nowhere to be found. While some schools excel across all levels of education, general rankings might skew the quality of many universities whose graduate programs far outshine their undergraduate, or vice versa. Within the United States, U.S. News and World Report acts as the definitive ranking body, and offers specific lists of graduate schools based on discipline. Yet, even within these lists, Master’s and PhD programs are not differentiated. The British-based Eduniversal Best Masters Ranking does offer a Master’s program ranking, but their list is not widely known, and does not have the reputation of many of the aforementioned ranking schemes. Moreover, the list is largely based on HR and student impressions of each institution, rather than criteria such as publication rate, student/faculty ratio, or other more objective measures. This lack of credible Master’s level rankings thus leaves us wondering how exactly Master’s students choose a program that’s right for them. For this reason, we’ve taken it upon ourselves to gather information on the topic, asking you – future and current Master’s students – exactly what it is you’re looking for. By taking part in our survey you will help us understand how programs are selected and exactly which criteria are most important for students. Furthermore, we think reading personal accounts of other students’ experiences can offer a kind of insight not found in rankings at all. We choose which restaurant we want to go to for dinner based on personal reviews – so why would we choose a university based on anything less? To help out future students in their decision-making process, head to the INOMICS site and leave a brief review of your university. If there are rankings lists you think we should have included, or if you have feedback on any that we did, feel free to leave comments. Photo credit: Brandon Turner
With application season largely behind us, it’s now time for students to make final decisions about where they will be heading this coming fall. For those in the lucky position of having been accepted to multiple universities, the question now is how to compare programs in order to make a final selection. Most people rely on rankings at some point in the application process, but do rankings really offer the nuance necessary to know if a program is a good fit? And without comprehensive lists comparing Master’s programs in particular, how useful are rankings at all?
Summer Internships in Economics and Finance 2013
Internships differ greatly according to discipline as well as type. For Bachelor’s students or those with little to no work experience, they can be a great first step into the working world. For anyone with a little more experience under their belt, internships are a good way to directly engage in a field of future employment, or to fill a gap between jobs. For many econ and finance students, interning in a bank is a terrific way to gain experience and test out a potential career path. Numerous central banks offer high-level internships for graduate students, for instance the Central Bank of Ireland, the Bank of Canada or Deutsche Bundesbank. If you are interested in development work, banks such as the Asian Development Bank and the Development Bank of Latin America also offer structured internships for graduate students hoping to gain relevant work experience. If you are an economics or finance student but not interested in working in a bank, there are still plenty of other options for top-notch internships. For instance, think tanks post open positions on a regular basis and are perfect places to gain experience in economic policy analysis and other areas. In Europe, institutions such as Bruegel, the Rimini Centre for Economics Analysis, TESEV or the European Policy Centre are all great options. For lists of other top think tanks in Europe, the U.S. and Latin America, take a look at our series of blog posts dedicated to that subject. Beyond banks and think tanks, many large firms in the private sector also offer internships. Companies such as PwC, Deloitte, KPMG and Ernst & Young all have offices in cities across the world, creating diverse opportunities for students and young professionals. If you’ve interned in the past, please leave a review of the institution where you worked on the INOMICS website and share your experience with future interns! Photo credit: Paul Watson
Last year, we posted an article titled “Internships in Economics – Lessons from an Economist,” which offered useful advice about the importance of internships and how to find what you’re looking for. Now, as spring is flying by and summer is just around the corner, we know that many of you are in the process of finding a summer internship. In this post, we’ll highlight a few specific internships and delve into the many great places to intern for anyone interested in economics and finance.
Budget Cuts in the UK: Experienced and Expected Changes in Academic Institutions
In this post we’re examining the responses gathered from researchers and other academic professionals working in the UK. Of those who responded to our survey, 70% said they work in universities, 9% in think tanks, 9% in a private company or consultancy, 9% in the government and the remaining 3% in a bank. The data from the UK are quite interesting, as they generally follow the general European trend, except in the case of marketing budgets. Yet, when examined more closely, the lack of change in anticipated budget cuts in marketing for 2014 can be countered by an increased percentage of UK respondents expecting budget increases. For 2013, 5% of UK respondents claimed their marketing budgets were increased, while 10% said they anticipated marketing budget increases for 2014. These expected increases for the 2014 fiscal year are certainly good news for UK marketing departments! Across each of the other budgets, the sharp decrease in anticipated budget cuts for 2014 also offers a promising outlook for the UK market. 14% of respondents said they anticipated general budget increases for 2014, which also shows a distinct increase from the 9% who reported general budget increases for 2013.
Last year, we conducted a global survey of nearly 800 academics, asking questions about budget cuts at their respective institutions for fiscal year 2013, and their expectations for 2014. We wanted to get a sense of the climate around the world in terms of who is still being affected by the economic downturn, and to what extent, in order to better grasp the daily reality for both employers and job seekers.
Budget Cuts in the USA: Experienced and Expected Changes in Academic Institutions
In this post, we’re exploring responses from researchers and others working in the United States. Of those who took part in the survey, 67% said they work in universities, 8% in think tanks, 8% in NGOs, 8% in private companies or consultancies, 4% in international organizations, 4% in banks and 2% in the government. This distribution was amongst the most diverse of any country represented. While it is clear that the U.S. is still feeling the effects of the global recession, the fact that anticipated budget cuts were nearly 50% lower across the board for 2014 is a very promising sign. Moreover, while only 4% of respondents said their general budgets were increased in 2013, 12% reported expected increases for fiscal year 2014. These responses underscore a more positive outlook for the U.S. market moving forward. The largest drop in expected budget cuts was reported for marketing budgets. This follows the global trend, though the disparity between reported cuts in 2013 and expected cuts for 2014 is larger than in most countries. As with the outlook for general budgets, this is certainly good news for marketing departments across the U.S.
Public Economics & Economic Policy (JEL H)
Budget Cuts in Germany: Experienced and Expected Changes in Academic Institutions
In this post we’re focusing on the responses of researchers and others working in Germany. Of those who took part in our survey in Germany, 55% said they work in a university, 16% in a think tank, 10% in the government, 10% in a private company or consultancy, 4% in an international or aid organization, 2% in a bank and the remaining 2% in an NGO. This group of responses was the most diverse of any country in Europe, thereby offering interesting insight into researchers and other workers from various sectors. Interestingly, while the percentage of people reporting budget cuts in 2013 was significantly lower than in other European countries, such as Spain, Italy, France or the UK, the reported data show little anticipated change for 2014. In fact, more people anticipated cuts to their general budgets for 2014 than 2013. These numbers indicate that although the German economy may not have been as hard hit as those in other countries, the recovery is still slow. Following the trend of other European countries, however, reported cuts to marketing budgets were low, remaining at 13% for both 2013 and 2014. These numbers offer a positive outlook for marketing departments in academia and elsewhere across Germany.
Budget Cuts in South America: Experienced and Expected Changes in Academic Institutions
In this post we’re focusing on survey respondents from South America. We recognize that there are vast differences between various countries in South America, but due to a low response rate from individual countries, we are reporting aggregate data from across the region. Of those who took part in our survey from South America, 66% said they work in universities, 17% in private companies or consultancies, 9% in NGOs, 3% in the government, another 3% in banks and the remaining 3% in international or aid organizations. Compared to other countries around the world, the percentage of people reporting any budget cuts in South America was quite low. Moreover, the anticipated budget cuts for fiscal year 2014 were even lower than those reported for 2013. A notable exception to this trend, however, was a jump to 10% of respondents saying they expected cuts in their marketing budgets for 2014, while no one reported marketing budget cuts for 2013. A full 50% of respondents anticipated that their marketing budgets would not be affected in 2014, however, and 27% reported budget increases. These numbers were very similar to responses regarding overall budgets, with 50% expecting no changes in 2014 and 21% expecting increases. The overall outlook for researchers and others working in South America is therefore quite positive, particularly compared to other regions around the world.
Budget Cuts in Australia: Experienced and Expected Changes in Academic Institutions
In this post we’re examining the responses from researchers and other academic professionals working in Australia. Of those who took part in our survey, 60% work in universities, 15% in private companies or consultancies, 10% in the government, 5% in banks and the remaining 5% in think tanks. The breakdown of experienced and expected budget cuts in Australia is quite interesting, as the differences between reported budget cuts in general versus specific departments is large, while the percentage of respondents expecting cuts in 2014 lessons across the board. This trend indicates a positive outlook in the Australian market, though it is possible that cuts in universities are more common in private companies and government, making the data somewhat inconclusive. The very small percentage of respondents anticipating cuts in their 2014 marketing budgets is great news for marketing departments in both education and the private sector. The numbers in Australia reflect the global trend, though the percentage of respondents expecting marketing budgets cuts is amongst the lowest worldwide.
Budget Cuts in Africa: Experienced and Expected Changes in Academic Institutions
In this post, we’ll focus on the continent of Africa. Although we recognize that there is great diversity between the regions in Africa and between particular countries, we were unable to draw effective conclusions at a more specific level due a low response rate in individual countries. At the regional level, however, these numbers offer a positive outlook for researchers and others working on the African continent. Of those in Africa who took part in our survey, 46% said they work in universities, 17% in private companies or consultancies, 16% in NGOs, 8% in governments, 5% in think tanks, 4% in banks and the remaining 4% in international or aid organizations. This distribution was the most diverse of any region, offering interesting insight for those looking to work in Africa, not only in education, but also in the private sector or for NGOs and government partnerships. While survey respondents reported budget cuts across the board for 2013, the percentage expecting cuts for 2014 was significantly smaller. Moreover, an impressive 53% of respondents said they anticipated general budget increases for fiscal year 2014. Such a positive outlook was not seen anywhere else around the world. In terms of marketing budgets, 44% of respondents anticipated increases in 2014, up from 19% in 2013. These numbers are very promising for marketing departments across Africa.
Budget Cuts in Spain: Experienced and Expected Changes in Academic Institutions
This post will be the first in a series examining the responses we received from professionals in various countries. Of those who responded to our survey from Spain, 89% indicated that they work for a university, 6% for a private company, 3% for a bank, and 3% for the government. The responses from Spain resonated with a reality with which we’ve become familiar – not only was it one of the hardest hit countries in Europe (94% of respondents reported cuts to their general budgets for 2013), but the prospects for speedy recovery are also minimal (77% of respondents forecasted general budget cuts for fiscal year 2014). These numbers do reflect a shift in a positive direction, however, as the percentage of people who claim to have budgets that were “not affected” in 2013 (6%) grew larger for 2014 (17%). Looking at the graph above, you can see that responses for recruitment, marketing and research budgets follow a similar trajectory. As you can see, marketing budgets were reported to have had the fewest cuts in 2013 and maintained this position for 2014. These data were consistent across nearly all countries that took part in the survey, which is good news for marketing departments from across the education industry.