Does anyone have a framework for approaching Economic Consulting Case studies specifically ?

economic consulting economics
New answer on Apr 04, 2021
3 Answers
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Anonymous A asked on Apr 03, 2021

It is my understanding they are very different from Management Consulting case studies (for which there are lots of resources). Any thoughts on where to begin in terms of preparation or finding good examples to review would be great

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Clara
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replied on Apr 03, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Overall, careful with frameworks.

Don´t ban them either, since they have huge utility at the beggining, when you are starting.

however, they are only that, the starting point. The summary were you see some or most of the key topics that are going to build your skillset.

From then, and once your toolbox is ready, you start pulling tools to fix cases in a very tailored way

Hope it helps!

Cheers,

Clara

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Anonymous A on Apr 15, 2021

Thank you Clara! this really helped me with thinking a bit more about structure even though I know economic consulting interviews might be somewhat different than strategy consulting ones

Francesco
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replied on Apr 04, 2021
#1 Coach for Sessions (4.000+) | 1.400+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 9Y+ Coaching

Hi there,

I would have loved to have those resources as well when I interviewed in Econ Consulting ;)

Unfortunately, Econ Consulting is a lot more niche than Strategy Consulting so there is not that much material. PrepLounge is mainly focused on Strategy Consulting, but possibly other platforms may have now resources for that.

To prepare for interviews you will mainly need to brush up:

  • Microeconomics
  • Competition Law
  • Econometrics

Questions are firm-dependent, but as general examples, some questions you may get are:

  • How would you test in Stata for heteroskedasticity
  • Define OLS
  • This is an econometric model to test a possible cartel. Which do you think is the issue
  • What are the effects of a cartel

If you are specifically interested in this field and want to invest in education for it long term, the following is a very good master (I did it and can provide more info – PM if needed):

https://www.barcelonagse.eu/study/masters-programs/competition-and-market-regulation

Hope this helps,

Francesco

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Anonymous A on Apr 15, 2021

Thank you so much for this ! Interestingly I have an offer to study at Barcelona GSE but will be studying the masters in Economics - I am certainly hoping to take some competition or industrial organisation modules in September!

Ian
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replied on Apr 03, 2021
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

Unfortunately this isn't quite the right platform for this :/ I think reddit, LinkedIn, and Google are your best bets to start.

Good luck!

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Anonymous A on Apr 03, 2021

I think my question is perhaps seems more specific than I intended when using the term 'framework'. I am really just looking for some thoughts on how to approach Econ consulting case studies in general but is this still not the correct platform to ask about this ?

Clara gave the best answer

Clara

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