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EMPLOYERS’ PERSPECTIVE Remarks for GESBank of England conference What post-crisis changes does the economics discipline need

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EMPLOYERS’ PERSPECTIVE Remarks for GESBank of England conference What post-crisis changes does the economics discipline need Powered By Docstoc
					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

•   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

				
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