Get Active in Our Amazing Community of Over 457,000 Peers!

Schedule mock interviews on the Meeting Board, join the latest community discussions in our Consulting Q&A and find like-minded Case Partners to connect and practice with!

Economic Consulting vs Management Consulting

New answer on Dec 22, 2022
2 Answers
10.7 k Views
Rob asked on Oct 20, 2017


I have a interview coming up for an Economic Consulting firm and am starting to do some Case prep. However, most of my resources are for Management Consulting and I have gotten mixed reviews on if the cases/questions asked are different between these two branches of consulting. Does anyone have some insight into the Economic Consulting case set up and perhaps some resources that I can use? Thanks!

Overview of answers

  • Upvotes
  • Date ascending
  • Date descending
Best answer
Content Creator
updated an answer on Oct 23, 2017
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ | Ex BCG | 10Y+ Coaching

Hi Rob,

I interviewed with both economic and management consulting firms and can confirm that yes, interviews are pretty different.

In strategy consulting interviews:

  • The interview is mainly based on fit questions plus business cases and market sizing. Example: “Our client is interested in entering the Spanish market. Should he do so?”
  • Focus will be on analytical, communication and synthesis skills.
  • There is no requirement of specific technical knowledge during the interview, with the exception of research analyst positions.

--> To prepare you have mainly to work on (i) Initial fit questions; (ii) business cases; (iii) market sizing. You can find some details on how to prepare with possible resources at the link below:

In economic consulting interviews:

  • The interview is mainly based on fit questions plus questions on economic principles, competition policy or econometric/statistics questions. Example: “Would a merger be positive or negative for consumers? Why?
  • Focus will be mainly on your analytical skills and economics knowledge. You are expected to know well Microeconomics (in particular Game Theory and Competition Policy), Statistics and Econometrics.
  • You are expected to have knowledge of statistical software like Stata (they may test that during interviews, either with a live tests or theoretical questions).

--> To prepare you have mainly to work on (i) initial fit questions; (ii) theoretical economics knowledge (eg price elasticity, homoscedasticity, R-squared definition, competition policy concepts, etc); (iii) basic applied statistics/econometrics (say the equivalent of Econometrics 101).




Was this answer helpful?
Rob on Oct 20, 2017

Awesome. This was extremely helpful. Do you have any preferred resources for Economic Consulting prep? I am guessing I don't have to really practice these long management consulting cases (similar to those of Accenture and Deloitte) then?

Anonymous replied on Dec 22, 2022

I worked in economic consulting for 6 years and have interviewed more than 30 candidates. Cases are different to MBB ones.

Cases tend to focus on microeconomic concepts and industrial organisation. We look for problem-solving and structure, but we rarely ask candidates to come up with a structure themselves and walk us through it.

Was this answer helpful?
Francesco gave the best answer


Content Creator
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ | Ex BCG | 10Y+ Coaching
Q&A Upvotes
1624 Reviews
How likely are you to recommend us to a friend or fellow student?
0 = Not likely
10 = Very likely
You are a true consultant! Thank you for consulting us on how to make PrepLounge even better!