Economics PhDs are aware of the transferable skills they should master to land a job in industry. But what about the reverse: is prior industry experience valuable for a PhD program?

“I am an economist,” I once proudly mentioned at a party, in a round of small talk. “Oh, so you do a lot of money counting and financial reporting?” was the reply I heard, like so many economics graduates before me. “Nah, let’s leave that to the business and finance professionals,” I answered. But what do real economists do exactly?

Having helped so many economists take their next career step, we at INOMICS know full well how rewarding working in economics can be. When you find that solution you've been looking for, or contribute some research that actually seems to get read and make a difference, it can be the best feeling in the world. But this won't happen unless you work on yourself and the skills that are essential for becoming a successful economist in general.

In a culture obsessed with measuring capabilities and results, we often overlook the important role of inspiration. As economists, inspiration awakens us to new possibilities within ourselves, allowing us to conquer our own limitations, and to succeed at doing what we do.

When you're just beginning your economics degree, you'll quickly come across two very important branches – microeconomics and macroeconomics. It's highly likely that you'll study both at some point during your degree, as they are two of the foundational planks of the subject. It is also likely, however, that you will have to choose which to take first, prompting the question: which is the best theoretical starting point for your studies? Having just started out, this can be a tough question to answer. That's why we're going to give you a little run down of each, to help you make the most informed decision possible. So let's begin.

Being a Teaching Assistant (TA) at a university is rewarding, but also tough, particularly when you’re just starting out and learning the ropes. Perhaps you might appreciate some guidance - roll on INOMICS top tips for econ TAs who are preparing for their first role. Oh, and congratulations by the way! 

Soon after the completion of a Master's degree or PhD, everybody is faced with the big question: what next? Although it may seem like a natural progression to continue with further research, there are many other careers open to academics in business, education, communications and journalism, to name but a few examples. So how do you know if research is the right career choice for you? Well, like with most big decisions, a good way of figuring it out is to weigh the pros and cons of an academic career.

Now in their fifth year, the INOMICS Awards remain unique in their celebration of institutions committed to the career development of economists worldwide. The awards recognise the universities, research centres, economics schools, banks, think tanks, and government and private institutions which listed their career and study opportunities on INOMICS in 2020, and were the most popular among our users.

Studying abroad: what an adventure! The majority who've done it usually say they loved it, and that despite some difficulties, the experience was unforgettable. It makes sense, too: for little can compare to the excitement of moving abroad, exploring a foreign culture, practicing a new language (perhaps), and meeting people that you would never have met otherwise.

Are you interested in doing a PhD in economics but worried about the cost? It's a real concern for many, and can dramatically affect your decision-making process. If you live in the United Kingdom, you could end up with around fifty thousand pounds worth of debt at the end of your three years. In the United States, you could have even more. The stress of having this weigh over you - not only while you're studying, but also afterwards while you search for a job and during your first years in employment, can be massive. 

When applying for an academic position as a researcher, lecturer, or for a fellowship, a cover letter is usually required to accompany your CV or resume. Stating your particular interest in the role, and showing how your academic and work experience enables you to excel at the job, is the aim of a successful cover letter. They can be one of the most important parts of your application, giving the recipient an idea of who you are and what your relevant expertise is. Essentially, it's the first impression an institution will have of you, so it's important to get it right.

Whether you’re a graduate student giving a presentation for a course or a researcher presenting at a conference, being able to give an engaging and well-prepared presentation is a valuable skill for anyone in academia – in COVID times it is invaluable. Today, hardly a talk is given without an accompanying PowerPoint presentation full of flashy graphs, images, exploding sub-titles, and often far too many bullet points.

What does it take to succeed as an economics student? What qualities make a good economics student – one who thrives at university, enjoys their economics degree, and then, once it's all done and dusted, who goes and gets a good job? These are big questions – there's no doubt – and their answers may not immediately be clear. 

When you apply for an economics PhD, you will need to write not just a research proposal but also a letter of motivation. This letter describes why you wish to undertake a PhD and why you would be well-suited to researching your proposed topic. But what needs to go in this letter, and what tone is appropriate for it? To give you some ideas, INOMICS is sharing a sample economics letter of motivation, as well as offering advice on how to write your own, so you can maximize your chances of getting accepted. If you plan to start your PhD application this autumn, you can download our free guide "How to successfully apply to a PhD in Economics".

Whether you are a seasoned researcher or a new economics student, it pays to know which journals are the most prestigious and well-known for certain topics. They can help you find the right papers for a literature review, stay on top of the latest research in the field, and even help you set your own publishing goals.

Teaching in any capacity, let alone in economics, can be a daunting prospect: the prepping, marking, not to mention the actual teaching. It’s hard work. This reality is most acutely felt when you are starting out or moving institutions and having to settle in somewhere new. In both instances, the pressure and workload can feel intense. That is why it's useful – if not essential – to be aware of all the support that's out there, most of which – conveniently – is free and accessible online. So, without further ado, here are ten of our favourite tools for helping teach economics.

Starting a PhD is an incredibly daunting task. Normally at least 3 years, there are some challenges that you are almost certainly going to have to face during the program. Below we look at some of the biggest (and most common) problems that PhD students encounter.

If you're thinking about which direction to take your research career, one possibility is the professor route, teaching and researching in a university context. This is one of the most desirable jobs among young academics, and something that people often strive for. But what are the pros and cons of working as a college professor?

A great way to make your presentations or papers slick and memorable is to improve your graphs and diagrams. The standard graphs produced by software such as Excel or SPSS can convey the required information, but tend to lack style as these tools have limited customisation options. Other software exists for the singular purpose of configuring your diagrams, including many which are open-source and hence freely available. As an economist, it's important to make sure your graphs are looking as good as possible, as they are essential for winning over and keeping the attention of your audience.

Whether you are applying to a structured program like those typically found in the United States, an independent research PhD like those in much of Europe and elsewhere, or a hybrid of the two, the first step is to gather your thoughts (and paperwork) in an effort to convince the admissions board that you are the most qualified and motivated candidate for the position.Regardless of location or discipline, your application will almost certainly include a personal statement, transcripts, copies of your previous degrees and letters of recommendation. If you plan to start your PhD application this autumn, download our free guide "How to successfully apply to a PhD in Economics".

Taking the step towards doing a PhD is a big decision, and one that shouldn't be made without the proper research and consideration. Once taken, however, it can be an extremely valuable experience and one that can set you up nicely in the future. Here we consider some of the things you should definitely think about before taking the plunge.

There are now more online learning options than ever, including courses which are - thank you Internet - absolutely free. Whether you want to prepare for your upcoming university course, need to pick up some extra skills to help with your job, or you are just interested in a subject and want to learn more, there will be an online course out there that can help you achieve your goals. Particularly during the COVID-19 pandemic, which has forced many of us to spend more time indoors and less time on campus or at evening classes, online courses can be a great way to carry on your education while minimising risk. Here are some of the best the internet has to offer in the area of statistics and data analysis.

A new initiative from Hamburg University, Universität Potsdam, and the Berlin School of Economics is helping economics students get ahead in the fundamentals of econometrics. The online tool mcEmpirics offers econometrics practice tests for students and is now being rolled out for whole economics departments with new campus-licenses. Especially with the challenges of remote teaching resulting from the ongoing global pandemic, mcEmpirics is gaining notice as a digital solution for economics students and teachers worldwide.

Multi-channel marketing is the practice of interacting with customers by using a combination of direct and indirect communication channels such as websites, online and offline catalogues, email, direct mail, mobile, messaging apps, social media, etc. Multi-channel marketing has been heavily used mostly in the retail industry by enabling customers to buy a product or service by using the communication channel of their preference. However this approach can also be very effective in the recruitment industry.