Conference on Diversity & Inclusion in Economics, Finance, & Central Banking: Keynote Speech

TL;DR

Professor Duflo discusses the lack of diversity in the economics profession and presents initiatives to make it more inclusive.

Transcript

professor duflo hardly needs an introduction having won the 2019 nobel prize for economics for her work and development mechanics only the second woman to receive this award and the youngest economist overall she's professor of poverty alleviation and development economics at mit and co-founder and co-director of the abdullah latif jameel poverty a... Read More

Key Insights

• 🤍 The economics profession is currently dominated by white males, which is problematic for understanding society and achieving diversity in positions of power and influence.
• 🪚 Improving diversity and inclusion in economics requires addressing barriers to entry, including perception issues, the hidden curriculum, and a hostile environment.
• 🏛️ Initiatives like the Economic Transformation Project and the DTP Micromasters program provide opportunities to diversify the field by offering skill-building programs, mentorship, and access to rigorous training.
• ✋ There is no trade-off between diversity and quality, as evidence suggests that diverse cohorts can perform at high levels.

Questions & Answers

Q: What are the main challenges faced in diversifying the economics profession?

The main challenges include perception and information issues, the hidden curriculum, and a hostile environment for underrepresented minorities and women.

Q: How does the Economic Transformation Project aim to make economics more inclusive?

The project focuses on addressing the barriers to entry along the pipeline, starting from high school to admission into a PhD program, through programs, mentorship, and skill-building opportunities.

Q: How does the DTP Micromasters program work?

The program offers online courses in upper-level MIT undergraduate classes, allowing students to earn a Micromasters credential. Successful students can then apply for an accelerated on-campus master's program at MIT.

Q: What can other schools and universities do to encourage underrepresented groups to pursue careers in economics?

They can adopt a similar approach to admissions, focusing on performance in relevant courses rather than traditional criteria like grades and recommendations. They can also provide training opportunities and support for underrepresented students.

Summary & Key Takeaways

• Professor Duflo highlights the lack of diversity in the economics profession, which is dominated by white males, and explains why this is problematic.

• She discusses the barriers to improving diversity and inclusion in economics, including perception and information issues, the hidden curriculum, and a hostile environment.

• Professor Duflo presents two initiatives, the Economic Transformation Project and the DTP Micromasters, aimed at addressing these barriers and diversifying the field.