One possible career path for an economics PhD is a role in government. About 37% of PhD students obtain jobs in government after graduation. This article details a few personal reflections on the types of opportunities, the rewards of such opportunities and the skills required.
Using multiple sources, we document a substantial worsening in the mental well-being of Australians aged 15–24 years, as measured by surveys, self-harm hospitalisations and suicide deaths. The shift began around 2007–2010 and is worse for young women than for young men. Although several factors could be to blame, we present six pieces of evidence suggesting that smartphones and social media may have played a causal role in damaging the mental health of young Australians.
The economy grew at a well below-trend pace in 2023/2024. Inflation fell, and the unemployment rate edged higher, but these changes were not sufficient to convince the Reserve Bank of Australia to start cutting the cash rate. In 2024, the federal Budget included cost-of-living financial support, as well as measures to support housing affordability, but living standards continued to slip as real GDP per capita fell. Overall, the Misery Index for Australia remains high and ongoing uncertainty about the United States and Chinese economies are downside risks to the outlook for 2024/2025.
The notes start with a description of the market for PhDs in economics and finance. Then follows some suggestions and comments on an important part of the academic market, the job-market paper – its nature and the pros and cons of co-authorship. Finally, I discuss the role of the oral presentation, also important for a job in academe, as well as in other areas.
Nine leading economists acknowledge that the state of the labour market is currently the critical factor determining price inflation and, consequently, the decision to adjust the cash rate. The main point of contention is how high unemployment, and other measures of labour surplus, need to be, to ensure wages do not fuel further inflation. Five economists agree that current conditions (January 2025) are not stimulating inflation and delaying a rate cut could risk a low growth, low productivity outcome; two have a conditional view, and two would like to see rates maintained.
These notes reflect a panel discussion on the job markets for Australian PhDs on the occasion of the 2024 PhD Conference in Economics and Business. The author is grateful for the comments by Professor Ken Clements, moderator of the panel and cofounder of the PhD Conference start with a personal reflection on the job market for PhDs in Economics and Finance. We take a closer look at today's academic job market conditions and draw comparisons with the job market conditions in the corporate, public and not-for-profit sectors. We then consider the selection criteria adopted by the recruiters. Followed by advice on how to successfully navigate the academic job market, how to avoid common mistakes, and how to find the perfect match between a candidate and a recruiting school.
This article is about careers for economics PhDs in the economic (or economics and policy) consulting industry in Australia. It draws on the author's experience, himself an economics PhD with 30 years of experience in the industry at ACIL Allen.
Current trade patterns reflect the low cost of transporting carbon-intensive fossil fuels. But renewable energy is expensive to transport. In a world moving to net-zero emissions, Australia can capitalise on its abundant renewable energy resource to process and export green minerals and fuels. With the right policy settings, Australia could not only meet its own international commitments to reach net-zero carbon emissions by 2050, but it could make a significant contribution to the global reduction in emissions, and prosper in the process.
Australia is not on track to meet its obligations under the Paris Accord. How can action to achieve net zero be accelerated? Here, we apply the concept of ‘sensitive intervention points’ and consider six potential interventions that could have a disproportionate impact on Australia's progress: (i) a national plan to clarify direction; (ii) a national net-zero authority to coordinate efforts; (iii) support for a set of nationally significant projects in particular places; (iv) an industrial policy response akin to the US IRA; (v) a standard for the construction industry; and (vi) a requirement that companies develop net-zero plans. Individually and collectively, we argue that they could plausibly accelerate Australia's trajectory to net-zero emissions.
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