Junior Economist Qualification study guide
Junior Economist Qualification · Work through your exam, one topic at a time.
The Junior Economist Qualification is an entry-level credential for people starting careers in economic analysis - recent graduates in economics, finance or statistics, analysts moving into an economics team, and staff in public agencies or research units who need a structured demonstration of core economic competence. It tests breadth rather than specialisation: microeconomic reasoning about consumers, firms and markets; macroeconomic models and policy transmission; the quantitative toolkit of probability, inference and regression; applied data work including model specification and interpretation; public finance and fiscal policy; money, banking and financial markets; international trade and open-economy issues; and the professional and regulatory context in which economists advise. The Junior Economist Qualification study guide has 8 sections and about 3,179 words.
01Microeconomics
Microeconomics on the Junior Economist Qualification tests how prices coordinate scarce resources across consumers, firms, and markets, and how taxes, market power, and intervention change welfare. Questions typically combine elasticity calculations, cost-curve reasoning, market-structure predictions, and incidence or deadweight-loss analysis described in words.
418 words, about 2 min02Macroeconomics
Macroeconomics tests aggregate measurement, short-run fluctuations, inflation and unemployment, and the logic of fiscal and monetary stabilization. The exam expects you to move between national-accounts identities, the AD–AS model, and simple multiplier arithmetic without confusing nominal and real magnitudes.
401 words, about 2 min03Quantitative Methods and Statistics
Quantitative Methods and Statistics tests probability, common distributions, sampling, confidence intervals, and hypothesis testing. The exam emphasizes correct interpretation of standard errors, p-values, and interval estimates rather than memorized output.
412 words, about 2 min04Econometrics and Data Analysis
Econometrics and Data Analysis tests whether you can specify, estimate, and interpret regressions, and whether you recognize when an estimate is credible. The exam combines OLS mechanics, inference, omitted-variable reasoning, instrumental variables, panel data, and basic time-series properties.
377 words, about 2 min05Public Finance and Fiscal Policy
Public Finance and Fiscal Policy tests the economic rationale for government, the design and incidence of taxes, and the sustainability of fiscal policy. The exam expects you to connect market failure to policy tools, and to distinguish legal from economic tax incidence.
401 words, about 2 min06Money, Banking and Financial Markets
Money, Banking and Financial Markets tests the functions of money, central-bank operations, interest-rate determination, bond pricing, banking risks, and financial regulation. The exam expects numerical fluency with yields and multipliers plus clear institutional reasoning.
370 words, about 2 min07International Economics and Trade
International Economics and Trade tests comparative advantage, the welfare effects of trade policy, balance-of-payments accounting, and exchange-rate determination. The exam expects you to separate efficiency gains from distributional effects and to use consistent credit–debit logic.
421 words, about 2 min08Economic Policy, Regulation and Professional Ethics
Economic Policy, Regulation and Professional Ethics tests how economists justify and design policy, how regulation addresses market failure, and how professional conduct shapes credible advice. The exam expects cost–benefit reasoning, awareness of regulatory failure, and clear ethical judgement.
379 words, about 2 min