1 00:00:00,400 --> 00:00:02,651 - [Narrator] If I master econometrics, 2 00:00:02,651 --> 00:00:04,612 what jobs can I get? 3 00:00:05,510 --> 00:00:06,676 - [Josh] Our students, 4 00:00:06,676 --> 00:00:10,200 both undergraduate, master's, and PhD students 5 00:00:10,200 --> 00:00:12,444 have a very robust job market. 6 00:00:12,444 --> 00:00:14,696 The traditional non-academic job market 7 00:00:14,696 --> 00:00:18,422 for an economics major with quantitative skills 8 00:00:18,422 --> 00:00:21,914 is kind of consulting, also finance. 9 00:00:21,914 --> 00:00:25,897 What's happened in the last 10 or 15 years 10 00:00:25,897 --> 00:00:28,062 is this new sector has opened up. 11 00:00:28,062 --> 00:00:30,706 Some people call it the Silicon Valley sector. 12 00:00:30,706 --> 00:00:35,840 Google, Facebook, Uber, Netflix, Amazon-- 13 00:00:36,544 --> 00:00:39,172 they're hiring economists 14 00:00:39,172 --> 00:00:42,387 with, again, quantitative skills for the most part, 15 00:00:42,387 --> 00:00:45,274 not necessarily card-carrying econometricians, 16 00:00:45,274 --> 00:00:48,673 but people who are good with data and trained with data. 17 00:00:48,673 --> 00:00:51,079 What's new about, say, Amazon, 18 00:00:51,632 --> 00:00:54,499 as opposed to some of these other employers 19 00:00:54,499 --> 00:00:56,287 that have been around for a long time, 20 00:00:56,287 --> 00:00:58,735 is Amazon is asking fairly narrow 21 00:00:58,735 --> 00:01:02,580 but very clearly causal questions about their own world. 22 00:01:02,829 --> 00:01:04,623 They have the data to answer them, 23 00:01:04,623 --> 00:01:06,679 and they're prepared to run experiments. 24 00:01:06,679 --> 00:01:10,020 I now have three PhD students working at Amazon. 25 00:01:10,870 --> 00:01:16,065 It's apparently not okay for them to talk in any detail 26 00:01:16,065 --> 00:01:17,636 about what they do there. 27 00:01:17,636 --> 00:01:19,474 So when I asked them, "What are you up to?" 28 00:01:19,474 --> 00:01:22,235 they say, "We're running experiments." 29 00:01:22,235 --> 00:01:24,189 ♪ [music] ♪ 30 00:01:24,189 --> 00:01:26,405 - [Narrator] Ready to master econometrics? 31 00:01:26,405 --> 00:01:29,112 Click here to embark on an educational journey 32 00:01:29,112 --> 00:01:33,468 with Josh Angrist, aka Master Joshway. 33 00:01:33,468 --> 00:01:36,550 Or if you'd like to watch more from this interview series, 34 00:01:36,550 --> 00:01:37,783 click here. 35 00:01:38,203 --> 00:01:40,586 ♪ [music] ♪