1
99:59:59,999 --> 99:59:59,999
If I master econometrics,
what jobs can I get?

2
99:59:59,999 --> 99:59:59,999
Our students, both undergraduate,
master's and PhD students

3
99:59:59,999 --> 99:59:59,999
have a very well [ ] job market.

4
99:59:59,999 --> 99:59:59,999
The traditional
non-academic job market

5
99:59:59,999 --> 99:59:59,999
for an economics major
with quantitative skills

6
99:59:59,999 --> 99:59:59,999
is kind of consulting, also finance.

7
99:59:59,999 --> 99:59:59,999
What's happened
in the last 10 or 15 years

8
99:59:59,999 --> 99:59:59,999
is this new sector has opened up.

9
99:59:59,999 --> 99:59:59,999
Some people call it
the Silicon Valley sector,

10
99:59:59,999 --> 99:59:59,999
Google, Facebook,
Uber, Netflix, Amazon--

11
99:59:59,999 --> 99:59:59,999
they're hiring economists

12
99:59:59,999 --> 99:59:59,999
with quantitative skills
for the most part,

13
99:59:59,999 --> 99:59:59,999
now necessarily [ ]
econometricians,

14
99:59:59,999 --> 99:59:59,999
but people who are good with data,

15
99:59:59,999 --> 99:59:59,999
trained with data.

16
99:59:59,999 --> 99:59:59,999
What's new about, say, Amazon,

17
99:59:59,999 --> 99:59:59,999
as opposed to some
of these other employers

18
99:59:59,999 --> 99:59:59,999
that have been around
for a long time,

19
99:59:59,999 --> 99:59:59,999
is Amazon is asking fairly narrow

20
99:59:59,999 --> 99:59:59,999
but very clearly causal questions
about their own world.

21
99:59:59,999 --> 99:59:59,999
They have the data to answer them,

22
99:59:59,999 --> 99:59:59,999
and they're prepared
to run experiments.

23
99:59:59,999 --> 99:59:59,999
I now have three PhD students
who are working at Amazon.

24
99:59:59,999 --> 99:59:59,999
It's apparently not okay
for them in any detail

25
99:59:59,999 --> 99:59:59,999
about what they do there.

26
99:59:59,999 --> 99:59:59,999
So when I asked them,
"What are you up to?"

27
99:59:59,999 --> 99:59:59,999
they say, "We're running
experiments."

28
99:59:59,999 --> 99:59:59,999
♪ (music) ♪

29
99:59:59,999 --> 99:59:59,999
Ready to master econometrics?

30
99:59:59,999 --> 99:59:59,999
Click here to embark
on an educational journey

31
99:59:59,999 --> 99:59:59,999
with Josh Angrist, aka Master Josh

32
99:59:59,999 --> 99:59:59,999
or if you'd like to watch more
from this interview series,

33
99:59:59,999 --> 99:59:59,999
clidk here.

34
99:59:59,999 --> 99:59:59,999
♪ (music) ♪