It is that time of year again!

Data Source: RePEc

Based on survey responses from economists and recruiters from over 70 countries, the INOMICS Job Market Report 2012 reveals the latest trends in the academic job market for economists worldwide.

Considering the remarkable technological progress and the spread of social media in the last few years, it can be challenging to teach and involve students when using an old-fashioned lecture style. Shelving overhead projectors and boring PowerPoint slides, some professors have converted to “education 2.0”, integrating new tools and applications into their class format.

When I was about to receive my Bachelor diploma, I was confused. I knew where I wanted to work, but I didn’t know how to get there with a Degree in Law. I also knew that I needed to steer my professional training towards economics, but I didn’t know how. The problem was that I just didn’t have enough credits in any economics-related disciplines to meet the requirements of the majority of study programs available. After having weighed all the options, I made up my mind to apply for an MA in Public Policy and to try to focus on economics-related disciplines.

After our tour of economics conferences this summer, the INOMICS team was impressed by the number of young economists at these events. Anecdotally, many delegates have the impression that there is a trend towards younger academics at even long-established, annual events, as well as more female delegates than were present in the past. Perhaps the time of economics conferences as the preserve of distinguished, yet silver-haired, bearded men is coming to a close.

Source: Survey on Research Funding for the Social Sciences in Europe, Ramon Marimon, Igor Guardiancich, Mike Mariathasan, Eva Rossi, European University Institute, 2011

The China Economic Review from last month ran an interesting piece by John van Fleet about the 150,000+ Haigui (海归) currently studying in the USA (Haigui, literally “Sea Turtles” is the name given to Chinese students studying abroad). Van Fleet discusses not only the challenges of interaction between international and domestic students, but also the economic impact for both host and origin country.

What happens to economics students once they complete their first degree? Here is a snapshot of economics graduates’ activities detailing their occupation six months after graduation.

A few weeks ago I came across an interview on TechCrunch with Brian Kibby, the president of McGraw-Hill Higher Education, discussing his positive outlook on the future of e-books, e-content and generally the future of what he calls ‘super adaptive learning.’ Contrary to what one might expect from a textbook publisher, Kibby explains in the interview that he expects to see a significant increase in the adoption of e-materials within the next year and full adoption within three years. Optimistic?

Just two days ago Time magazine released a list of the 100 most influential people in the world. Among other prominent figures included in the list is Hans Rosling, a doctor and statistician, who became famous after his “TED talk” in 2006. In the video released by BBC four years later, Hans Rosling presented statistical data about 200 years of world development in the most creative and clear way the world had ever seen. The video got over 5 000 000 views on You Tube. A complicated subject, feared among generations of students, was transformed into a mind-blowing show. This video will show you how.

Unemployment For College Majors

Source: Survey of the labor market for new PH.D. hires in economics 2011 – 12, Sam M. Walton College of Business, University of Arkansas:

The financial sector in the UK is and will continue to be a major driver of economic growth, and the long term prospects are good both for the sector and for jobseekers. In fact, a recent report from Oxford Economics predicts that the Financial Sector will be the main driver of British economic growth over the next two decades. In the short term, though, stagnation and hesitation among big financial companies is being mirrored by a sense of opportunism in smaller ones. The result is a greater diversity of opportunities in the financial sector, and a different landscape of employment prospects for professionals at all stages of their careers in finance.

A big part of ASSA Annual Meeting (check out our post on 2012 ASSA Annual Meeting held in Chicago) is the role that it plays in the life of a PhD economist searching for their first job. Although some graduates choose less conventional ways of approaching the Job Market, for most graduating PhDs, the meeting is where they meet with potential employers, strut their stuff, present their Job Market Papers (JMP) and hope to the high heavens for a fly-out, and, after that, an offer – preferably at their number one choice. If all goes well this process should be over by early March with a good majority of top 50 schools’ graduates having at least one job offer on the table.

New Ph.D Hires in Economics: Expected and Actual Offers for the 2010-11 Academic Year

Conferences have been a pillar of academic thought in the western world for almost a century. Organizations including the American Economic Association (AEA) (organized in 1885, incorporated in 1923), the Royal Economic Society (RES) (incorporated in 1902, although their journal The Economic Journal dates back to 1891), the Western Economic Association International (WEAI) (1922) and the International Atlantic Economic Society (IAES) (1973) have lead the way with their annual meetings that draw anywhere from a couple hundred to over 10,000 annual visitors; and these are only the tip of the iceberg.

Check here the Summer Schools in Economics taking place in 2015!