Exploring Careers in Economics October 11, 2019

TL;DR

The Federal Reserve Board of Governors hosts an event to discuss careers in economics, featuring economists and research assistants who share their experiences and insights. Students are encouraged to pursue internships, engage with economists, and consider the various paths and opportunities available within the field of economics.

Transcript

Thank you for joining us today at our third exploring careers and economics event. I'm Quintin Johnson, senior economics outreach specialist in the Division of Research and Statistics here at the Board of Governors of the Federal Reserve System. And I’m Cassandra Duchan, I am a senior research assistant here and welcome to everyone who's joining us... Read More

Key Insights

• 💭 Diversity of thought and perspectives is crucial in economics to tackle complex problems and avoid groupthink.
• 😫 Economics provides a set of tools to analyze various issues, such as inequalities, financial stability, and policy effectiveness.
• 💪 Developing strong analytical and time management skills is essential for success in economics.
• 👨‍🔬 Opportunities for internships and research assistantships exist within the Federal Reserve System and other regulatory agencies.

Questions & Answers

Q: What inspired the research assistants to pursue a career in economics?

The research assistants were inspired by personal experiences, such as the financial crisis, which sparked their interest in understanding the connection between the economy, people's happiness, and their way of life. They were drawn to economics as a way to explore these connections and make a positive impact in the field.

Q: How do research assistants at the Federal Reserve Board contribute to financial stability?

Research assistants at the board collect and analyze data, work on programming and coding, and collaborate with economists to conduct research that informs policy decisions related to financial stability. They play a crucial role in identifying and analyzing risks in the financial system, contributing to the overall mission of maintaining stability in the economy.

Q: How can undergraduate students dive deeper into economics?

Students can talk to their professors, take relevant courses, and participate in programs such as the American Economic Association summer program. They can also engage with the economics community on platforms like Econ Twitter, where ongoing debates and discussions take place. Research assistantships are also a valuable opportunity to gain research experience and develop technical skills.

Q: How does the Coffee with an Economist program benefit students?

The Coffee with an Economist program allows students to have informal conversations with economists at the Federal Reserve Board. It provides a unique opportunity to ask questions, gain insights into different career paths in economics, and establish connections with experienced professionals. The program promotes knowledge sharing and fosters mentorship opportunities.

Summary & Key Takeaways

• The event features economists and research assistants from the Federal Reserve Board of Governors discussing their career paths in economics and the opportunities available within the field.

• The research assistants share their experiences working at the board, including their day-to-day tasks and the skills they have developed.

• The panelists discuss the importance of diversity in economics and how it benefits the accomplishment of the mission of financial stability.

• They also highlight the variety of professions and broader opportunities within the field of economics, such as working in regulatory agencies, international institutions, or pursuing further education.