Josh Angrist: If I Master Econometrics, What Jobs Can I Get?

The job market for people with skills in econometrics is exploding. In this video, MIT professor Josh Angrist describes the opportunities awaiting empirically-minded economics majors, including new careers in high tech firms such as Amazon and Uber.

This video is the sixth in our series of Q&As about our course Mastering Econometrics.

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- [Narrator]
If I master econometrics,

what jobs can I get?

- [Josh] Our students,

both undergraduate,
master's, and Ph.D. students,

have a very robust job market.

The traditional
non-academic job market

for an economics major
with quantitative skills

is kind of consulting,
also finance.

What's happened
in the last 10 or 15 years

is this new sector has opened up.

Some people call it
the Silicon Valley sector.

Google, Facebook,
Uber, Netflix, Amazon --

they're hiring economists

with, again, quantitative skills
for the most part,

not necessarily
card-carrying econometricians,

but people who are good with data
and trained with data.

What's new about, say, Amazon,

as opposed to some
of these other employers

that have been around
for a long time,

is Amazon is asking fairly narrow

but very clearly causal questions
about their own world.

They have the data to answer them,

and they're prepared
to run experiments.

I now have three Ph.D. students
working at Amazon.

It's apparently not okay
for them to talk in any detail

about what they do there.

So when I asked them,
"What are you up to?"

they say, "We're running
experiments."

♪ [music] ♪

- [Narrator] Ready
to master econometrics?

Click here to embark
on an educational journey

with Josh Angrist,
aka Master Joshway.

Or if you'd like to watch more
from this interview series,

click here.

♪ [music] ♪