Marcus Rafferty - Economics
Throughout my secondary school days Economics was always a subject which stood out to me. I had a natural fascination with what was going on in the world around me, an area economics gives a great insight into. After a 4 year relationship with UCD (1 year on exchange) , my enthusiasm in this area has only grown.
Throughout the degree you have a broad range of areas to choose from. It isn’t a specific degree which gives focus an individual area, perhaps seen in universities across Europe. With exception to core modules, you are given the choice of which additional modules you would like to choose from. The core modules focus on establishing the key teachings in areas anyone pursuing a degree in economics must understand such as Macroeconomic and Microeconomics. Additionally in my final year econometrics was taught. Econometrics provides the necessary skills needed to analyse data and discover potential relationships which may exist in the given data, an important skill needed for anyone who wishes to further their economics career post undergrad. Other interesting modules I took were international money and banking which provides analysis on the macroeconomic economy of the Euro area and offers rational behind the introduction of practices such as quantitative easing, inflationary targets and many more ideas and rules set in the ECB.
The overall course is designed to heighten one’s curiosity in areas. By this I mean that considering the wide variety of economics areas covered,one may realise if there is a particular area in economics that speaks to them.
UCD has an association with many universities across the globe. Specific to economics, one can go on an exchange programme across a broad range of countries. In 3rd year I went on an exchange to San Jose, California. It was an incredible year where I learned many life lessons, both inside and outside the classroom.
In my final year I was given the opportunity to apply for the national department of finance competition through one of the classes taught. Entry required an essay in relation to the “medium to long term” impacts on Ireland arising through Brexit. Using an essay I had already submitted for my class `Economic Research Workshop 2` I ended up winning the competition and am currently partaking in an internship with the department of finance. Using skills I acquired in modules such a the one previously mentioned where assignments consisted of presenting your economic findings to the class and through the form of essays in relation to topical areas such as the Irish labour market, whether GDP is an accurate measure of Ireland’s economy (it isn’t) and other economic principles I learned through classes such as international trade, I was able to provide an accurate analysis to address to question posed.
Throughout my time in the department of finance I have seen how relevant the material covered in undergraduate is to the work of an economist. You often hear of how many undergraduate courses become irrelevant in one’s later life. However I cannot apply this same logic to a degree in economics. Currently I am working on a project in relation to Ireland’s housing crisis. Through my independent work I have analysed numerical data on issues such as the labour market, housing demographics, sectors analysis and reading published papers to support my findings.
Even someone who isn’t sure what they want to do after college, yet realise their interest for the business environment, may find a degree in economics useful. Employers recognise the value of the degree which leaves you open to applying for numerous jobs. My fellow economics class graduates will be pursuing various career paths following graduation. Many with be doing masters in areas such as management, business, economics while others will have roles in finance with financial institutions or jobs in tax and audit with `the big four`.
A degree in economics with UCD has further enhanced my interest in the world economy. This has helped me realise what I want to further my career in. In September I will be pursuing a masters in `Economics and Strategy for Business` in Imperial College London, a tough challenge but ultimately one I believe my undergrad has helped me prepare for.
