Why Study Economics?

Why Study Economics?

Economics is a dynamic and influential field that touches nearly every aspect of our lives. From shaping government policies to understanding global markets, economics provides invaluable insights into how societies function and evolve. But what motivates individuals to pursue a career in economics, and why should you consider studying it?

By studying economics, you'll gain not only a deep understanding of how economies function but also invaluable analytical and critical thinking skills that are highly sought after in today's interconnected world. Whether you aspire to shape policy, drive innovation, or understand human behaviour, economics provides a powerful lens through which to view the complexities of our global society.

What do we study in the Department?

Abi Adams-Prassl

What led you to a career in Economics?

As an undergraduate, I took a course on Public Economics at the same time as a philosophy module on theories of social justice. I was hooked. It opened my eyes to how economics can be used as a tool to tackle inequality in society. I was also incredibly lucky to have a brilliant mentor, Professor Ian Crawford, as a graduate student. I hadn’t seriously considered doing a PhD in Economics, and would not have done so, if it wasn’t for his encouragement and support.

Johannes Abeler

What led you to a career in Economics?

When I was in high school, I was very interested in mathematics. I found that economics is the perfect space to combine these interests: to think about how people make decisions and how they interact, using mathematical tools to test my ideas against data.

Elizabeth Baldwin

What led you to a career in Economics?

Before I was an economist, I was a mathematician. I found I wanted to work on problems that had a more immediate impact on the wider world and on questions that I cared about, so I left my postdoc in mathematics to take a masters in economics, and never looked back! My own experience as a woman in economics, has been uniformly positive. Yes, people do ask a lot more questions throughout a seminar than they would do in mathematics, but I enjoy that level of engagement.

Paola Conconi

After high school, I dreamt of a career in diplomacy or international organisations, so I enrolled in a bachelor’s in political science and then an MA in international relations. During these interdisciplinary studies in Italy and the US, I realized that I liked the rigour of economics and the “toolkit” it gave to address key policy relevant questions. This led me to obtain a M.Sc. and a Ph.D. in Economics. In my work today, I use theoretical models and empirical methods that learned while studying economics to address questions that are inspired by my earlier interdisciplinary studies.

Beata Javorcik

What led you to a career in Economics?

I was doing my university studies in the early 1990s – right after the fall of the Berlin Wall and the collapse of communism. This was the time when Fukuyma was writing about the end of history and designing market reforms in eastern Europe and the former Soviet Union was the challenge facing the Economics profession and policy makers. It was a very exciting time to study Economics. Studying epidemiology must feel a bit like this today.

Mathias Jensen

Why do you study Economics?

With my research, I aim to deepen our understanding of the socio-economic trajectories of diverse populations. Economics equips us with the necessary tools to dissect and address inequalities.

Hamish Low

I went to university wanting to understand how society worked and more about the ways it did not work – I had vague notions that the government could help solve society’s problems. I knew nothing at all about economics! Studying economics (alongside politics and philosophy) transformed the way I thought about the world. It made me analyse real world issues in a systematic way: economics taught me to try take my own prejudices out of my analyses. It was quite simply fascinating and inspiring!

Romuald Méango

Why do you study Economics?

I have always been amazed by the diversity of the people and situations that economics is relevant to; from the instantaneous decisions of traders in the City, to the long-term investments of cocoa farmers in Kumasi, and the dreams of would-be migrants pondering whether to cross the Sahara or not.

Inès Moreno De Barreda

What led you to a career in Economics?

I’ve always loved problem solving and maths. However, as I advanced in my (5 years) undergrad in maths I missed being able to discuss with my family and friends whatever I was learning. After working in a risk consultancy firm for a couple of years I wanted to come back to academia. I spent one year at the UAB a as a research assistant to the micro theory group and I loved it. Jordi Massó introduced me to the Kidney matching problem, to strategy-proof social choice functions and stable coalition problems. It opened my eyes and I did a PhD in economics.

Niclas Moneke

Why do you study Economics?

Climate change will hit 500 million people in extreme poverty the hardest. Why? What can we do to address climate change without neglecting development for low-income countries? Development economists have long studied how market forces and policy can help eradicate poverty, but climate change will raise the stakes -- essentially combining two defining challenges of our time into one.

Barbara Petrongolo

What led you to a career in Economics?

I was drawn towards quantitative disciplines like maths or statistics and at the same time I was interested in questions that are typical of the social sciences. The combination of these interests made economics a natural choice, and even more the choice of specializing in labour economics. Major events in people’s work life determine their economic fortunes and their happiness (or unhappiness). Often an individual’s career shapes their identity and their sense of worth for society.

Federica Romei

What led you to a career in Economics?

I initially wanted to study medicine, then, at the very last minute, I realized that I would have never passed the University entrance test for Medicine, since I was not studying for it. Therefore, I picked Economics, instead, without knowing much about it. In Italy, it is not common at all to study Economics during high school, so I had a very vague idea of what it was. When I started my studies, I realized that I liked Economics a lot. I realized that it is a mix of math and social science. Therefore, very soon, I became passionate about it.

Find out about our outreach series: What Economists Really Do

The field of economics benefits from diverse voices and perspectives. The dynamic and interdisciplinary nature of economics demands a range of viewpoints to effectively analyse complex problems and devise innovative solutions. Economists are working with governments and businesses around the world to improve policy and make the economy work better for everyone. Find out how economics can be used to shed light on some of the biggest issues facing society today.

FIND OUT MORE

Explore our undergraduate courses

Undergraduate Study

We offer three undergraduate degrees in which you study Economics jointly with one or two other subjects: Philosophy, Politics & Economics; Economics & Management; History & Economics.

Explore our graduate courses

Graduate Study

Studying Economics at a graduate level can open a world of options and opportunities. We have several courses to choose from – all are designed to support your success and nurture a bright future.

Why Study Economics?