1 Investigating the Relevance of Economics Training and the Demand for Economists : preliminary results from the DOE StA and Mona Processes Dr. Marlene Attzs Department of Economics, UWI St. Augustine Presentation to the Economic Growth Conference, Mona September 2007

2 Outline of Presentation Background to Process Background to Process DOE 2/3-stage initiative DOE 2/3-stage initiative Major Employers of DOE Graduates (StA and Mona) Major Employers of DOE Graduates (StA and Mona) DOE in the context of the UWI Strategic Plan DOE in the context of the UWI Strategic Plan Survey results and recommendations from stakeholders Survey results and recommendations from stakeholders Policy Conclusions and recommendations Policy Conclusions and recommendations

3 Background to the DOE Initiative Objectives of the original surveys were: Objectives of the original surveys were: To anticipate the demand for Economists in Trinidad and Tobago and in the wider Caribbean in the new millennium; and To anticipate the demand for Economists in Trinidad and Tobago and in the wider Caribbean in the new millennium; and To determine DOE’s future research and teaching agenda. To determine DOE’s future research and teaching agenda. 1 st survey of DOE StA graduates done in Q1 1997; 2 nd survey done over the period May to July 2006 with a view to updating the baseline data collected in st survey of DOE StA graduates done in Q1 1997; 2 nd survey done over the period May to July 2006 with a view to updating the baseline data collected in DOE Mona process conducted 2007 DOE Mona process conducted 2007

4 Primary Employers of DOE Graduates : StA and Mona DOE StA (1997; 2006) DOE Mona (2007) CBTT (15%; 8%) CBTT (15%; 8%) Govt Ministries (33%; 36%) Govt Ministries (33%; 36%) Teaching Service (0%; 6%) Teaching Service (0%; 6%) State Enterprises (18%;7%) State Enterprises (18%;7%) Private Sector (2%; 22%) Private Sector (2%; 22%) Other(12%; 21%) Other(12%; 21%) Bank of Jamaica Bank of Jamaica Planning institute of Jamaica Planning institute of Jamaica Ministry of Finance Ministry of Finance Jamaica Money Market Brokers Jamaica Money Market Brokers Financial Services Commission Financial Services Commission

5 Current Context and Process DOE St. Augustine’s Strategic Plan Process DOE St. Augustine’s Strategic Plan Process V- Caribbean people recognise UWI’s Economics Department (s) as being in their corner through our contribution to development of the Caribbean. V- Caribbean people recognise UWI’s Economics Department (s) as being in their corner through our contribution to development of the Caribbean. M - to deliver quality research, teaching, training, outreach and dissemination of knowledge in the Economics of Development in SIDS in a student friendly environment. M - to deliver quality research, teaching, training, outreach and dissemination of knowledge in the Economics of Development in SIDS in a student friendly environment. Consultation with stakeholders/users of DOE services/employers of graduates Consultation with stakeholders/users of DOE services/employers of graduates

6 Results from Civil Society Survey The sample consisted of local and regional CS and diverse in terms of functions The sample consisted of local and regional CS and diverse in terms of functions Primary objective … to distill Civil Society’s perspective of Economics and Economists, particularly wrt the role and function of the UWI DOE StA Primary objective … to distill Civil Society’s perspective of Economics and Economists, particularly wrt the role and function of the UWI DOE StA Data collection period: July/ August (en process) Data collection period: July/ August (en process)

7 Areas of training important to Civil Society Budget Preparation Budget Preparation Proposal writing Proposal writing Current economic issues Current economic issues Accounting Accounting Project evaluation Project evaluation

8 DOE Mona : Students’ Perception of Economics Teaching MSc programme MSc programme geared towards preparing students for Economics studies at the PhD level and not for the work place; geared towards preparing students for Economics studies at the PhD level and not for the work place; focus theory vs applicability focus theory vs applicability Limited exposure to economic dynamics of both the Jamaican and Caribbean economies Limited exposure to economic dynamics of both the Jamaican and Caribbean economies Lack of diversity in course options/fields Lack of diversity in course options/fields

9 DOE Mona : Students’ Perception of Economics Teaching Undergraduate programme Undergraduate programme needs to be enhanced to facilitate better preparation for MSc programme: needs to be enhanced to facilitate better preparation for MSc programme: Need for some compulsory (Economic Development, Caribbean Economics, etc) Need for some compulsory (Economic Development, Caribbean Economics, etc) Stronger focus on incorporation of more research to enhance writing and analytical skills and better understanding of the discipline Stronger focus on incorporation of more research to enhance writing and analytical skills and better understanding of the discipline

10 What the DOE can do to Improve its Service Delivery Areas of economics important to stakeholders Dialogue, outreach, consultation with civil society Getting involved in the project development stage Relevant Publications geared specifically to stake holder's needs Sharing our mandate with civil society : identifying mutuality

11 Future demand for graduates from the DOE trained in … Organization Type Areas of training desired of the DOE Business Statistical reviews of the economy, Forecasting Tourism Diversification of the Economy: Problem solving in areas of inflation, unemployment Gender-based Gender responsive budgeting, Gender responsive budgeting, Women in the Economy, Impact of Trade Policies, Gender Disaggregates Community Poverty Reduction, proposal writing Social/ Advocacy Environmental and Tourism Economics Agriculture Market Analysis, International Trade Environmental Valuation of Natural Systems

12 Summary of respondents recommendations Need to refine critical thinking, report writing and analytical skills Need to refine critical thinking, report writing and analytical skills Greater understanding of the dynamics of the national and regional economy Greater understanding of the dynamics of the national and regional economy General view on the need for more consultation/ interaction between Economics Dept and institutions (locally and regionally) in curriculum reform General view on the need for more consultation/ interaction between Economics Dept and institutions (locally and regionally) in curriculum reform There needs to be a synergy between the economics skill set and those of the other social sciences (graduates too “specialised”) There needs to be a synergy between the economics skill set and those of the other social sciences (graduates too “specialised”)

13 Policy Conclusions Survey results suggest need to rationalise teaching/research Survey results suggest need to rationalise teaching/research Results suggest some need for mix of “traditional” and “non-traditional” training Results suggest some need for mix of “traditional” and “non-traditional” training Relevance of Economics and Economics Training ought to be in the context of relevant for and to whom? Relevance of Economics and Economics Training ought to be in the context of relevant for and to whom?