Maja, what does your work focus on?
My work is about improving the living standards of people that live in low to middle income households. I work with research in a think tank, which means that in my publications and commentaries I translate academic rigour and sometimes statistically complex research into a lay person’s language as well as the fast-paced world of policymakers and civil servants.

It sounds like your work has a strong social impact. What first attracted you to studying economics?
I thought that by understanding the way money flows in the world I would be able to better understand it. With that understanding, I thought, I would be able to open doors into a variety of different fields and careers paths that I did not necessarily know about when I started. I studied economics to broaden my perspectives.

What misconceptions do you think some young women may hold about economics as a degree option or career path?
I didn’t realise it would be so male dominated until I came to university, so this didn’t weigh in on my decision to study economics. If I had known, it would have probably only increased my determination to study it as I have never liked stereotypes. I can imagine that the thought of being one of few women in a seminar group in particular can be daunting, perhaps especially for people who previously have been to single-sex schools.

One misconception I think many people hold when it comes to studying economics is that it is all about banking. Although a lot of people study economics to go into banking, finance or consulting, there is a wealth of opportunities for economists across the different sectors of the economy. I think another misconception is that it’s all about maths. I wouldn’t say this is the case either. There is a lot of maths and to have a good grasp of high school maths is a must, but far from all of the economics course is maths. Also, the applied maths in an economics course is very different from high school maths.

Thank you, it is great to clear up some of the misconceptions people might hold! Do you have any suggestions for what universities could do to encourage people from a diverse range of backgrounds to consider studying economics?
I think there are two strong arguments in favour of studying economics that are not necessarily pushed out enough: That there are some tangible career paths outside of the traditional professional city jobs, and that it is fun. Universities should find ways to use different channels to push these messages.

It may also be useful to loosen the high maths requirements that some universities have. I think maths is pushed on students that I have a lot of support from their homes and teachers, who know that maths is important for the future. However, I don’t believe that maths is the most important requirement, and getting people from more diverse backgrounds interested in economics may involve recruiting these people later in their academic life, perhaps at a point when they have decided to not pursue the highest level of maths at school.

Last, I think it would be very beneficial to jump on the train of heterodox and post-Keynesian economics, with a greater emphasis or at least option to study more economic history. This could tempt a new group of students to consider studying economics.

Economic history is fascinating and can tell us as much about the potential future as it does about the past! What is the best part of your job as an economist?
To see the numbers you crunched be reported in national news channels and to see your research reach people with influence to help make society better. The other thing I love is that I will be able to go anywhere in the world and I would most likely be able to pick up a job there. I guess in short it is the ability to help people now and to have the freedom to go anywhere I want in the future.

Maja Gustafsson

Resolution Foundation

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