The collapse of the econ PhD job market
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The collapse of the econ PhD job market
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Re: The collapse of the econ PhD job market
#2Their predecessors should have done a better job managing the economy.
Re: The collapse of the econ PhD job market
#3I still couldn't quite grasp the underlying issue. People are not studying economics so schools are not creating those positions, but then it seemed to draw the line to people not studying economics due to the lack of positions in academia, so chicken and egg? I guess it's just that it compounds with the hiring freezes in the public sector mentioned?
I came away feeling unsatisfied, is there a bigger cultural thing going on here?
Re: The collapse of the econ PhD job market
#4A specific market collapse, or a general one?
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Quick edit: I also dislike the persistent narrative of 'guaranteed' placement for certain degrees and occupations. This assumes a stagnant market and skill-set that does not at all hold for current-day markets.
Re: The collapse of the econ PhD job market
#5Their predecessors should have done a better job managing the economy.
the people with economics PhDs are not the people in control of economic policy.
Re: The collapse of the econ PhD job market
#6Academic hiring has taken a big hit with the uncertainty and decline in federal funding.
Re: The collapse of the econ PhD job market
#7Their predecessors should have done a better job managing the economy.
It tends to go the other way around; politicians and academia pick economists that favor the way they'd like economics to be managed.
Consider that Ludwig Von Mises, one of the most famous economists never held a tenure track position. And Milton Friedman won a nobel prize, including a study of monetary history that damned the fed for helping bring on the great depression -- later nobel prize to Bernanke for works that included the great depression held quite different or even opposing views to Friedman.
Re: The collapse of the econ PhD job market
#8[dead]
Re: The collapse of the econ PhD job market
#9My first thought is wondering if it's one of two things:
A. The bottom half of PhD Economists are not being trained in the data science/Big Data side of analysis increasingly needed
B. There is less demand for Theory-sided Economists over computationally trained ones
Re: The collapse of the econ PhD job market
#10Economics academia has become its own only client.
Very few outside academia are interested in vector autoregression models of inflation, DSGE or identification strategies.
Traditional macroeconomic data and all the models that complemented it is technical debt.