Why study economics? One team share their stories

One team at the The Reserve Bank of Australia (RBA) share their diverse stories on what inspired them into their dream jobs.

The Reserve Bank of Australia (RBA) is our central bank, which means it conducts
monetary policy, works to maintain a strong financial system and prints the nation’s banknotes.

They’re also the country’s biggest employer of economists.

We hit up one of the bank’s central teams and asked them how they landed their roles, what subjects they studied to get there and all the things that makes their current gigs so awesome.

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Stephanie Parsons, Economist

“Economics is a way of thinking that can be applied to many of society’s most important problems. Keep up with what’s happening in Australia and across the world; read or listen to the news regularly, especially business news; and follow economists on social media. Discuss issues with your peers, parents or teachers. Whether or not you become an economist, the skills you develop by studying economics will help make you a better employee and a more rounded citizen.”

Taylor Nugent, Economist

“I’m interested in how the world works and how people’s choices and actions can be shaped by their circumstances. My job allows me to apply a set of tools to answer these questions and the big-picture implications. In my current role, I monitor and analyse development in labour markets, with a specific focus on wage pressures and wage outcomes in the economy.”

Blair Chapman, Economist

“Economics is not only interesting, it gives you a set of skills you can apply widely and use to answer an endless number of questions. I enjoy applying my economic toolkit to help  provide answers to important and interesting questions. Knowing my work can be used to benefit our society is also rewarding.”

RELATED: What is economics? It’s much more than money

Natasha Cassidy, Head of Prices, Wages and Labour Market team

“We assess what is going on in the Australian labour market, as well as inflation in the economy. We provide briefings of these trends and our best estimate of the outlook to the Reserve Bank board to help them make monetary policy decisions.

“Studying economics lets you tap into different skill sets – analytical or technical interests, interest in human behaviour, or communication skills. Unemployment rates were particularly high for younger people [when I first started out], and I wanted to understand why, and what could be done about it.”

This article is brought to you in partnership with the Reserve Bank of Australia (RBA). It originally appears in Careers with STEM: Maths 2020.

Author: STEM Contributor

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