Economic Consulting Prep for Undergrads

Question

Hello,

I am a senior in undergrad with first round in Economic Consulting firm....am only familiar with mgmt consulting firms.

1) What are quick tips

2) What are top 3-4 kind of Cases these firms ask

Thanks a bunch!

Answer 1

Hi there,

1) A lot of the principals from strategy casing still apply

2) You really need to understand your econ topics. You should expect a lot more technically challenging content (strategy consulting is more "soft" and brainstorm-y, econ consulting is much more "hard" and founded on scientific principals).

Make sure you understand key economic concepts + terms. I.e. Derivatives, Elasticity of Demand/Supply, GDP = CIGX, Nominal vs real (GDP, interest rates, etc),real interest rate formula (incorporating inflation), Unemployment rate/calculation (incl workforce participation), money multiplier, etc. etc.

Answer 2

Hi! The questions will be a little different from those asked by strategic consultancies, as they might include topics such as regulation, macroeconomics, laws, public policy. You should first of all find out for which area you are being interviewed (or most likely will) and then prepare accordingly. Please contact me if you need further info - I have also a Ph.D. in politics and a BA and MA in Economics. Best of luck!