By Laura Harvey, Iram Akhter, Wini Dwebeng, Emma Marsden and Clare Purser
[In the Photo: Top Left – Iram & Laura; Top right – Clare; Bottom Left – Emma; Bottom right – Wini]
Our Women in Economics Webinars kicked off in April with a discussion with four current undergraduate students in Economics, all at different stages of their degrees or with different aspirations and goals. Iram Akhter is an international student on the BSc Business Economics degree with a placement year, who is currently in the second year and will be going on placement next academic year. Clare Purser is a third year Economics & Finance student originally from Norwich. Wini Dwebeng is a third year Economics & Finance student who has previously completed a placement year and is currently an Equality and Diversity Officer. Emma Marsden is also a third year Economics & Finance student and the current president of the UEA Finance and Investment Society.
Q1: What drew you to study Economics? Had you had any past exposure to Economics?
Iram: When I was in school, I was very active in extracurricular activities which were about resolving issues like the environmental crisis, world hunger and poverty or anything to do with resource disparities. This made me realise that I was really interested in them, and I wanted to undertake this as a career path. So, my goal in my final years of high school was to find a subject that would allow me to do that, and I think economics provided me with a good pathway to doing that. I took economics in my final years of high school not knowing exactly what it was. But I really enjoyed it and I realised it was much more than what I first thought. It is extremely multidisciplinary you can apply it to so many different sectors and applications for every commercial sector and for the functioning of any country. It helps you understand problems, because of this I thought it would be a good subject to undertake at university.
Clare: I suppose for me, sometimes you just know when a subject is right for you, and I know that’s not helpful but that’s sort of what happened with me. I always enjoyed business studies, but I think I wanted a bit more of the sort of mathematical, analytical side as well, which economics covers. I did do economics A-level which I thoroughly enjoyed. I think the reason I chose economics as a degree is attending open days at UEA and I met the staff, and they were all so nice. The lecturers would discuss the applications of economics but also the funny side of economics. It just really made me decide that I want to do economics. That was it, it just fell into place for me. Hopefully it will for you as well.
Wini: Similar to Clare, I enjoyed economics at A-level; it was the subject that I got, if that makes sense. I was able to apply my knowledge, and I was able to do well in it. But I was also really intrigued by markets and how they work, not just financial markets, but more generally, how consumers respond to behaviour, etc. That was something that drew me to economics. But I think unlike other degree subjects that are fixed to one subject, economics has a range of things; you can do modules in politics or geography or even marketing or business-related modules, which was another reason I chose economics. And finally, economics teaches you to think strategically and make decisions that optimise your outcomes, which I don’t feel like other degrees teach you to do, which I think can be helpful in the workplace.
Emma: My story is not too different. My three A-levels were in Maths, Geography and Economics and I really didn’t like Maths so for university it was always going to be between Geography and Economics. And the reason I chose Economics in the end was the breadth of it. I had no clue what career I wanted or what job I wanted when I was looking at uni. I think even now, in my final year, it’s still questionable what job do I actually want. I think Economics gives you that breadth of knowledge and experience that you can tap into and it teaches you these skills like problem solving that you can apply to so many different industries. I think as a sixth form student, thinking about your university choices and you’re thinking about your job, it can feel very daunting, so just to go with something that was so broad really took a lot of weight off my shoulders. It’s a great decision now and looking at the employability prospects its wonderful.
Q2: What is it like to be a current undergraduate student in Economics? What opportunities have you had?
Emma: My time at uni is unfortunately coming to an end, only a couple of months to go being a third year, but its been the most wonderful experience. Being part of the Economics school has been a massive contributor to that. I think no matter which Uni you go to or what subject you do, hopefully you will find something that you enjoy. But here at UEA, and especially at ECO, the support has been really phenomenal. The friends I have made have been amazing and the opportunities, whether that be to improve your employability skills or get involved in the department to help determine what the course might look like in the future. There are so many things you can do that help you get more involved, help you to meet new people, network, make friends. It looks great on your CV and makes you more employable and more likely to get a job at the end. It’s really been an amazing time and I can’t recommend it enough.
Wini: Like Emma, talking about the opportunities. When I first joined UEA, I didn’t think about doing a placement year. And one day got an email, so I just applied for it then, and it started that whole process. Whichever university, these opportunities, especially the employability ones, are important. Also, use the time to get to know yourself and try different things. There have been so many societies that I have joined, like I have never done horse-riding before, but I have done it at UEA. So, I would say explore as much as possible. In terms of economics, it’s been interesting, I think I have learnt so many different things. I have learnt how to use different software, also a lot of the fundamental things that I don’t think you get taught at school, like how to reference properly. Its been a really interesting, fun, and exciting time in my life.
Clare: In my first year I was able to get a research internship with the School of Economics. It was an exciting opportunity, it was a bit of health economics, but designed for first years. It wasn’t beyond what we could do and it was really interesting. I learnt so much from it; I was working with another first year and one of the lecturers; it was the first real work experience I ever had and I think moving to my second year some of the knowledge skills and just general experience helped me get my internship with Aviva. I am quite an ’employability person’, but it’s about being able to see these opportunities and take them. But there are also all the Society events, there is going to be the end of year BBQ and Balls. They are great ways to meet new people. It’s a chance to learn as much as possible and take it all in.
Iram: The opportunities that are available in economics are so expansive, I have been doing my placement search over the past year and I have seen that the variety of roles that an economics student can go into is just so many. You could go into operations or consulting, or policy or financial services, there is just an endless list. With regards to doing something like a placement, I think its really good to undertake, especially if you’re not sure what career path you want. A placement can help you figure out what you want to specialise in moving forward and gives you an opportunity to better learn about your interests. Even though I haven’t started my placement yet, just doing the placement search has given me a better understanding of what I find myself interested in doing with regards to economics. At university the support has been tremendous, so in my experience, from first year onwards we have had consistent support, regular webinars to help you prepare for the job market. So doing a placement is also useful in preparing yourself for when you actually graduate.
Q3: How do you manage the perceptions of Economics and the myths that exist about the discipline
Iram: The misconceptions are wide, and I have seen it within my own family as well even though I am doing economics, they are still not aware. I think people are not aware of the fact that there is both theoretical and empirical aspects to the work. If you do an economics degree, regardless of the branch you will study econometrics and statistics, which I would say, can be bit challenging particularly if you don’t enjoy mathematics. But they are useful, and if you would like you can deviate from them and not do something of that sort. And with regards to misconception that economics is also about Finance, it’s not the case, there are so many aspects to it. So for instance, consulting is in the financial sector but there is also environmental, hospitality services, government policy. There is just so much you can do with it. For instance, in my placement next year its operational research in carbon capture hydrogen and industry analysis so that is related to the environment. It is mathematical, but then that depends on what you want to do. There is just so much variety.
Wini: I would say you don’t have to have a maths A-level; I didn’t have a maths A-level. I did maths for 2 months at the beginning of year 12 and then I dropped it. So, there is a misconception that you have to have a maths A-level and you don’t have to. Some universities may require it but not all. But I would say it comes to opportunities, in the first year there was this maths support and I used to go to that. Its held by the Learning Enhancement Team and they would literally go over what had been done in the lectures but at a slower pace and give me more practice questions. I found that helpful. You can get into Finance or maths, but you don’t have to it. There are so many different things and I think that is the beauty of economics because there are so many different areas, you don’t have to do one thing. So I am doing Economics & Finance but not all my modules are tailored towards Finance. I am doing modules such as Government Welfare and Policy, which has very little to do with Finance but its interesting. So I would say just explore the modules and go for what you’re comfortable with.
Clare: I suppose maths is a part of economics, but its not the crux of economics so if you struggle with maths its not a problem. I did take a maths A-level but I don’t think that’s really affected me in any way. I did the second year more maths module later on which was a very hard module and I passed it. But maths is not the be all and end all, its helpful to have and to understand but its not the end of the world. And you can pick and chose which modules you want to do so you can choose modules with no maths or if you want to do more maths you can. Chose the modules that best suit you. I am doing Economics and Finance degree, but I am really enjoying the Government Welfare and Policy module, I am currently doing a poster on road tax now which is not typical Finance. Economics is so much more than Finance.
Emma: I am someone that loves Finance, and I am going to go into Finance, but I am no good at maths. I just passed A-level maths, but that’s not stopped me coming to uni, finding Finance and loving it. I think initially I was drawn to finance a little bit selfishly. I think people assume that the jobs there are higher paid and people who work in Finance have a certain lifestyle. So initially I was attracted to that, but when I was choosing these finance modules, I found a love for the theoretical side and the work rather than just for the employability and job prospects. Because the lecturers are so great at supporting you on the module, they have office hours every week where you can go and talk to them about their module or anything that you are struggling with. If there was any maths that I didn’t get in a finance module I could go to the lecturer every week if I wanted to. And they would be amazing at talking me through it, going at a slower pace, help me work out where I understood it and where I didn’t and helping me get better. And it’s worked out well and it helped me be so passionate about something which is so broad and not just maths heavy. Economics isn’t all maths, and it isn’t all Finance. And even if you want to go into Finance or want to go into maths, please don’t think that they are the same thing. You could be great at maths and not great at Finance or you could be like me and really love Finance but be terrible at maths.
Q4: If you could go back, what would you tell your younger self?
Iram: I don’t have any regrets, but I’d say, my degree title is Business Economics right. But I don’t see myself particularly interested in the business side of things. I mean I am interested in them, but not to the extent that I am interested in policy for instance. So, I’d say, and I observed this with some of my friends as well, they have degree titles such as Economics and Finance and they have certain compulsory modules under them, and they don’t really like it. So, I think it’s important when you select your degree title or you are making your application, to look at the compulsory modules. See the methodology of the modules you are choosing whether it be more empirical or mathematical or theoretical and, the content, how is it going to be taught. Then make your decision on that.
Clare: No regrets, I love my degree, I love UEA, and I still enjoy Economics and Finance. I think, I maybe wish that I had in first year done more research on economics in general, so read more books and become more knowledgeable going into second year. I wish I had known more. I know more now as a third year, but I wish I had known it then. I could learn more, read more and talked more and had more in-depth discussions with people. I wish I had gone to office hours more often. I am bad with office hours because I always forget when they are. I wish I had remembered when these office hours were to be able to talk to the lecturers about ideas and stuff and just have great discussions. It’s not the end of the world to forget office hours, I can just email a lecturer whenever, everyone is so chill.
Wini: I wish I had networked earlier. You meet so many different people at university and you don’t realise, even if someone from the same city as you, how different their experiences are. So I wish I had networked earlier. If you are allocated an advisor, speak to them. Because they have a wealth of knowledge, they are willing to give to you if you ask. So those are my two main things.
Emma: If I could change anything it would be that I wouldn’t have done A-level maths. I know that’s a bit strange, but it proves that you don’t need it to do well in your degree here. I chose it because I did okay in GCSE maths and I thought I wanted to do something maths related and this is going to be super important and as I mentioned earlier, I didn’t do very well. I found it massively stressful, and I think if I hadn’t have took that subject I could have taken another subject that I actually wanted to do and was very passionate about. I could have got onto the exact same course I am doing now and would have had a lot less stress. And I would have been able to enjoy my last couple of years at school as I was doing something I genuinely wanted to do rather than a subject that I felt I had to do. So I would say like, it’s so easy for people to say do what your passionate about. But it only takes a couple of people to say oh if you don’t do A-level maths you’ll miss out this job prospect or if you don’t do A-level economics you won’t get on an economics degree, because you will. I really wish I would have known that at 16 when I was choosing my A-levels. You can get onto an Economics degree if you haven’t done A-level maths or economics. That’s my one big thing that I would change!
Q5: Last question – I wanted to ask you about your plans, how has economics been important for helping you get to where you want to be?
Iram: I have two years of university left, so next year I am going to be on placement, and I think the fourth year modules I am going to choose will depend on whether or not I enjoy next year and what I find myself wanting to do after that. And that’s why I think placement is important, whilst degrees are not really specialised it allows you to specialise your modules depending on what you are really interested in. And then I have planned to either do a master’s degree directly if I have figured out what I want to do or I will enter the job market for a few years, figure out what I particularly want to do and then do a masters.
Clare: Next step is to hopefully graduate in July! Then I am off to work for Aviva as a business analyst. In my second and third year I specialised more in the sort of data analysis type stuff; that’s going to really help me with my job. And I suppose that’s it for now. I never really knew what I wanted to do which is why I chose economics; I still don’t know. I am hoping to stay with Aviva and kind of move up the ranks and find my way. And that’s the good thing about economics as you can work in almost any domain. And if you are still unsure you can find yourself a graduate scheme within a big company because there is a bit more room for scope in a big company, but the thing is you don’t have to stick to the one job you get at the end of your degree. There is more than one path.
Wini: In the short run I would like to do some travelling – get away from the UK. But then I am hoping to do my master’s, so probably only travelling for a couple of months. Then, in the long run, I want to work for the Government Economic Service as an advisor. I am not sure which specific department, but that’s the long-run plan.
Emma: I am excited, at the end of August I am going to be starting a graduate scheme with Nestle as a finance graduate. So that is a three-year scheme with three rotations. So, you spend a year in a different location and different job and then move on. Also, during that time, they are going to put me through CIMA which is an accounting qualification. So that’s my path for the future, it will be finance and management accounting. After those three years are up, I am not sure. The reason I took a graduate scheme which rotates is that I know I want to work in Finance but I don’t know where, whether that be auditing, planning and reporting, investments, pensions, tax financial, services, anything. So, I am using this to figure out which departments I like which departments I don’t like. Whether I like working for a big company or want to work for a smaller company next time. My hope for the future is to gain a lot of experience, find that specific part of Finance that I really enjoy and work my way up! I am super excited!
A big thank you to Emma, Iram, Clare and Wini for your time!