EMPLOYERS’ PERSPECTIVE
Remarks for GES/Bank of England conference: What post-crisis changes
does the economics discipline need?
7 February 2012
Mark Beatson
What are employers looking for?
• Skills and competencies needed for
graduate-level entrants much the same for
Government and consulting
• Neither “oven ready” nor “farm fresh”
• Mix of economic and general work-related
competencies
Economics
•
Deep understanding of the basics is really important – and the ability to apply them to a
range of contexts:
• Supply and demand
• Consumer behaviour
• Theory of the firm and industrial economics
• Cost-benefit analysis
•
Numeracy and understanding of quantitative methods
•
Many graduates will have little or no opportunity to use macroeconomics
•
Related areas worth exposure before Masters level:
• History of economic thought and philosophy of science
• Political economy and economics of public choice
• Economic history and analysis of institutions
General work-related competencies
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Communication skills – including structuring an argument
Numeracy
IT skills
Desk research skills
Interpersonal skills/ability to work as part of a team
Intellectual curiosity/”entrepreneurship”:
• Willingness to look for the answers [and partial answers]
• Ability to assimilate large amounts of disparate information
• Ability to reach conclusions [however tentative] on the basis of limited
information
• Open-mindedness and willingness to seek out new opportunities