Advice for aspiring economists

Spending some time this morning on the Greg Mankiw blog I came across this page of advice for aspiring economists, written I guess from a university perspective for those taking economics-related degrees and perhaps considering post-grad and employment options. But useful nonetheless for younger students. What sage advice do you like to give to students newly established on your courses?

This is a summary of the advice I give to students who are considering taking Economics at university level

Enrichment and Extension Activities

So what can / should you do?

Read – you should be reading a quality newspaper every day and soaking up as many ideas and arguments as you can. Investing 30 minutes of your time each day reading a newspaper is a hugely valuable activity. This will give you breadth of awareness and it will improve your written work.

Read – contact your subject teachers for ideas for books that will broaden your horizons. Your UCAS form must include evidence of wider background reading and should include some personal thoughts and reflections on how this reading has enriched your understanding of a subject.

Read – there are numerous magazines and journals that are available from School Library – again consult your teachers for some advice on this or the school librarian.

Read – the Internet is a valuable resource – effectively an online library available through your desktop or laptop. Again, seek advice on some excellent recommended sites. The Economics department for example has passwords to some subscription based resources including the Economist online, the Financial Times and some specialist research organizations. The growing range of Economics blogs might also be a productive avenue for keeping up to speed with interesting subject developments.

Get involved in Societies – make contact with visiting speakers. Don’t just turn up to societies – instead look to get more deeply involved – be pro-active.

Enter essay competitions such as the Keynes Prize and also the new Young Economist of the Year Competition for 2008 which is being organised by the Royal Economic Society. Details available from your subject teachers.

Challenge the conventional wisdom in the classroom – question what is being taught, take issue with your teachers and explore different arguments – don’t take a back seat, don’t be a passive student in the classroom – it will help you in interviews and later on in university seminars

Explore opportunities for work experience with different organizations and people. The summer holidays are a good time to build such experience. The more diverse the placements and experience – the better. Working for a local charity, with a local newspaper or magazine, a business organization or new business start-up is often more valuable than a week or two sat with boring people in an investment banking office or a firm of accountants!

Travel and when you travel try to understand more about the social – economic background of the countries that you are visiting.

Attend outside lectures and other events – consider the lecture programmes that are available to the general public at your local universities; some universities also run summer schools for academically able students. See what is available.

One aspect of a university application needs to be stressed above all else. It is a fact of life that the majority of university admissions tutors are not interested in how much sport you play, whether or not you are involved in drama, music or other school responsibilities. Their main concern is your intellectual / academic potential and passion for your chosen subject disciplines compared with other students applying for a specific course.