Challenge for Change - diversity and economics

Challenging misconceptions about economics is essential to attract more diverse people into the profession. It’s time to bin the assumption that economics is just maths and a bit of money, and recognise the role it plays in changing our society. 

Dr Arun Advani and Mairi Spowage discussed at a recent David Hume Institute event the current lack of diversity in economics - both in economists and the subjects of economics research.  

Dr Advani’s research investigates diversity of academic economists and the topics of research papers compared to other social science subjects. For instance, economic papers related to race by volume of publications are at the same level political science was 30 years ago and where sociology was 40 years ago. The research also highlights how economists overestimated how much research was undertaken related to race. 

Arun and Mairi discussed how lack of different life experiences can lead researchers to make assumptions and not thoroughly interrogate data.  Increasing diversity of thought in the profession will help ensure rigorous research questioning and help to reduce the risk of bias.

Arun and Mairi also discussed the need to change the perception of economics as an area of study. Too often economics is painted as a field of maths or a subject solely focussed on money, rather than a social science open to interpretation. Economics can be about all areas of social policy and human behaviour - and is virtually limitless in the topics it can analyse.

The challenge is to shake off the old image and encourage more people into the profession both from school and career changers.  Mairi herself followed an unusual route into the profession with her early career being in statistics.

Watch the full event again here:

Find out more about David Hume Institute’s work on diversity of leaders in Scotland.