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Actual economics professor here… Take as much econometrics as you can possibly stomach. Augment it with classes from the stat department but econometrics wil

Actual economics professor here… Take as much econometrics as you can possibly stomach. Augment it with classes from the stat department but econometrics will teach you about making causal inferences in situations where experiments are impossible, unethical, or extremely expensive (or all of the above). Modern empirical economics is 99% about making causal inferences. That’s basically the only thing we care about. Methods (at the undergrad level) you will want to be familiar with include: difference in differences, regression discontinuity, event study, synthetic control, and the like. Ask your professors in what classes this material is taught. There is tremendous, enormous demand for this inside tech companies. Amazon has about 400 PhD economists for example. Many other firms are trying to catch up. Jobs are plentiful and extremely lucrative. If you have any interest in a PhD in the field, a whole new universe of opportunities will open up but I recognize this is not for everyone. There are methods not listed above which you could learn in grad school but that’s enough to get started.

grassgreener 5y ago
I can confirm. I didn't go all the way to the PhD, doors opened earlier than that for a basic analytic job (and the compensations don't make you think twice about staying an extra 5 years in academic). Econometrics, and by extension statistics, is the most sell-able assets you have as a fresh grad. It is so transferable that you can pretty much work in any industries. I fitted models to forecast water pollution. Although, I should add that most tasks required from analyst are: data cleaning and descriptive analysis. From there you can demonstrate all the other skills (project management for example) and evolve in whatever position interest you the most.
natalyarostova 5y ago
+1 To add to this, I do not have a phd in econ, but did what you recommended and work as a data scientist with PhD economists. If you do this, you will make just as much as they do.

grassgreener 5y ago

I can confirm. I didn't go all the way to the PhD, doors opened earlier than that for a basic analytic job (and the compensations don't make you think twice about staying an extra 5 years in academic). Econometrics, and by extension statistics, is the most sell-able assets you have as a fresh grad. It is so transferable that you can pretty much work in any industries. I fitted models to forecast water pollution. Although, I should add that most tasks required from analyst are: data cleaning and descriptive analysis. From there you can demonstrate all the other skills (project management for example) and evolve in whatever position interest you the most.

natalyarostova 5y ago

+1 To add to this, I do not have a phd in econ, but did what you recommended and work as a data scientist with PhD economists. If you do this, you will make just as much as they do.