What do you do if you want to ace your economics interview?

1 Know Basics

To excel in your economics interview, it's vital to have a solid grasp of basic economic principles such as supply and demand, market equilibrium, and the effects of government policies on the economy. Ensure you can explain these concepts clearly and relate them to current economic situations. This foundation will not only show that you understand the core of the subject but also that you can apply theoretical knowledge to real-world scenarios, a skill highly valued in the field of economics.

2 Current Events

Staying updated on current economic events is indispensable for your interview. You should be able to discuss recent news articles, policy changes, or economic reports and their potential impacts. This demonstrates your passion for economics and your ability to analyze how theoretical concepts play out in the real world. Understanding the context of these events within the broader economy can set you apart from other candidates.

3 Analytical Skills

Highlighting your analytical skills is a key part of any economics interview. Be prepared to discuss how you approach problem-solving and data analysis. You might be asked to interpret graphs, identify trends, or make predictions based on given data. Practice explaining your thought process in a structured manner, showcasing your ability to dissect complex information and make informed decisions.

4 Theory Application

Applying economic theory to practical situations is a skill that interviewers often look for. You should be ready to use models like the IS/LM (Investment Saving/Liquidity Preference Money Supply) model or the AD/AS (Aggregate Demand/Aggregate Supply) model to analyze economic scenarios. Explain these models with clarity and confidence, and demonstrate how they can be used to understand and predict economic outcomes.

5 Personal Experience

Your personal experience with economics, whether through academic projects, internships, or previous job roles, can provide valuable talking points. Discuss any research you've conducted or economic issues you've tackled. This is your chance to show how your unique experiences have equipped you with a deeper understanding of economics and its applications.

6 Mock Interviews

Lastly, practice makes perfect. Engage in mock interviews to simulate the real experience. This can help alleviate nervousness and improve your communication skills. You can identify areas where you need more preparation and get comfortable with the types of questions that might be asked. Feedback from these sessions can be incredibly beneficial in refining your responses and boosting your confidence for the actual interview.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?