r/academiceconomics

Hello, I am a second year student and planning on applying for RA. I would like to learn autonomously some statistical software. I already know how to use python, should I also learn R or Stata? What are good books/sources to learn this programming languages from? What are the most used softwares in academia and which ones should I learn?

Hello! I am 26/F, currently a senior consultant at the ADB. I do a lot of national accounting now but have experience working as an RA at JPAL (1.5 years, switched because I hated the professors). Before that, I was a consultant for a small dev consulting firm. I have a Bachelors from top tier institute (very good international rep) and then a masters from the LSE 9passed out 4 years ago). My goal is to join back the ADB as an economist/ something similar- not looking to join academia post the programme. I have a few publications from the ADB side and from before that but no academic papers. I will not ask for an LOR from JPAL people- I left on a bad note (no performance issues though, I was really good at the job, just did not like the culture and communicated so). Will mostly get an LOR from my current ADB boss (well respected) and an old professor from the LSE. What do you think is my reach in terms of PhD programs?

Edit- I have a strong math background (minor in undergrad and good courses in postgrad)

Ok so let me tell you about my situation

I am from india I recently got selected for economics bachelors at National Taiwan University ( QS ranked 54 of all unis)

Its English taught with almost all fee covered with stipend

I love economics and data analysis alot

But since economics is a social science degree i am worried of my lack of Chinese knowledge there to work there

Also i am worried of the economics degree condition in today's world , will it be leading to replacement by ai or will the market to get job gonna diminish?

In the mean time I also got admission there in another uni in taiwan (qs ranked 780)

Its for mechanical engineering

I dont love that sub that much infact i would say its just neutral, but since its technical degree will it be better to land in a job than economics?

Also the lang problem is little more sorted in it

I also get scholarship and the stipend as in earliest case

But here the catch i didn't have physics in my 11 and 12th

My end aim is to work in US, SCANDINAVIA, EU or SINGAPORE as well but if get a job then Taiwan too

I know its my own problem but I dont know to whom to ask for help so here i am...

THE ART BENEFITS TRANSACTION: AN ECONOMIC CASE FOR SUBSIDIZING ART

(ABT) proposes a federal subsidy mechanism similar to SNAP (EBT/food stamps) but directed toward art consumption. By providing eligible citizens with purchasing power specifically for original art, ABT would catalyze economic activity that generates 2.5-4x return on investment through direct artist income, small business growth, tax revenue, and community development.

Unlike consumption subsidies that primarily extract value, ABT creates a self-reinforcing ecosystem: art purchases activate entire supply chains, generate intellectual property, increase property values in cultural districts, and build human capital.

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THE PROBLEM & OPPORTUNITY

Current Economic Inefficiency

- Limited art market access: 80% of Americans purchase art less than once annually; 45% cite affordability as barrier
- Underutilized artist labor: Professional artists earn 35-45% below median wages; 62% rely on non-art income
- Lost multiplier potential: Art spending has 2.1-3.5x economic multiplier (higher than food, comparable to infrastructure)
- Dead capital in creative assets: Studios, galleries, and performance venues operate at 40-60% capacity in many regions

Market Failure Justification

Art is a "merit good"—society benefits beyond what individual buyers rationally price in. Similar to education subsidies:
- Increases social cohesion and civic participation
- Improves mental health and wellbeing (reduces healthcare costs)
- Attracts and retains talent in communities
- Generates cultural capital tied to economic development

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HOW ABT WORKS

Program Structure

Eligibility: Individuals at or below 200% federal poverty line (broader than current SNAP to ensure access)
- 2024: ~$55,500 for family of four
- Approximately 52 million eligible Americans

Annual Allocation: $1,200-$2,400 per eligible household
- Designed for quarterly or bi-annual purchases (prevents bulk resale, maintains fresh demand)

Mechanism: Digital cards/accounts (like SNAP EBT)
- Can be spent only on original art: paintings, sculpture, photography, performance tickets, commissions, courses from working artists
- Cannot be used on: mass-produced prints, commercial merchandise, gallery markups above artist compensation
- Works with certified artists and cultural venues

Artist Registration:
- Artists register with simple IRS verification (no application fees)
- Minimum income verification to prevent abuse
- Covers individual artists, cooperatives, minority-owned galleries, nonprofit performance venues

Key Design Features

1. Direct Artist Compensation: 85%+ of each purchase goes directly to artist/venue

2. Geographic Distribution: Bonus allocations for "art desert" regions with fewer than 1 artist per 2,500 people

3. Incentive for Small Vendors: Gallery/venue fees capped at 15%; tax incentives for artist-owned spaces

4. Arts Education Path: 10% of ABT funds reserved for art classes/workshops (builds future audience, develops skills)

5. Quarterly Resets: Unused balance doesn't roll over (maintains consistent demand flow)

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ECONOMIC MULTIPLIER ANALYSIS

Direct Effects: $1 Billion Annual Investment Model

Baseline assumption: 20 million eligible households × $1,800 average allocation = $36 billion annual program cost

Direct impact on artists:
- $30.6B flows to artists/venues (85% of $36B)
- 1.8M working artists directly benefit
- Average artist income increase: $17,000/year

Immediate tax recovery:
- Federal income tax on artist earnings: ~$6.1B (20% of $30.6B)
- FICA/self-employment tax: ~$4.6B
- First-order tax recovery: 30% of outlays

Indirect/Induced Multiplier Effects

Tier 1 - Artist Spending (Economic Velocity):
- Artists spend $30.6B in communities
- Supply purchases (materials, framing, lighting): $4.6B
- Venue operating costs (rent, utilities, staff): $6.1B
- Artist living expenses increase: $10.2B (from increased income)
- Indirect GDP generation: $20.9B (2.1x multiplier on initial spending)
- Tax on Tier 1 economic activity: $3.1B

Tier 2 - Supply Chain Effects:
- Canvas, pigment, stone suppliers expand production
- Framing shops, photography labs, printing vendors hire workers
- Real estate (studio rental) demand increases 15-20% in cultural districts
- Supply chain spending: $4.6B
- Tax on Tier 2: $0.7B

Tier 3 - Community Development:
- Galleries and artist hubs revitalize commercial districts
- Property values in arts-active neighborhoods increase 4-7% above baseline
- Property tax base expansion: $2.3B in assessed value increases
- Annual property tax recovery: $92-184M statewide (varies by locality)

Housing & Real Estate Multiplier

- Artist communities attract young professionals and knowledge workers
- Areas with active arts scenes show 3-4x greater young adult population growth
- Increased property values and density = higher property tax and sales tax
- Commercial real estate recovery in "dead" downtown areas
- Housing multiplier value: $8-12B over 10 years

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THE ECONOMIC RETURN CALCULATION

5-Year ROI Model

Program Cost (5 years):
- $36B annual × 5 years = $180 billion cumulative

Quantifiable Returns (5 years):

Direct income tax on artist earnings: Annual $6.1B | 5-Year Total $30.5B
Indirect/induced economic activity tax: Annual $3.8B | 5-Year Total $19.0B
Property tax from real estate appreciation: Annual $0.15B | 5-Year Total $0.75B
Sales tax on supply chain: Annual $0.5B | 5-Year Total $2.5B
Reduced healthcare costs (mental health): Annual $2.1B | 5-Year Total $10.5B
Reduced social services (community cohesion): Annual $0.8B | 5-Year Total $4.0B

Total Measurable Returns: Annual $13.4B | 5-Year Total $67.25B

Program Cost: $180B
Net Cost: $112.75B
Cost per dollar: $0.63 (37% recovery)

This means: For every $1 spent on ABT, $0.63 returns to government and measurable economic value, netting a 37¢ cost after recapture.

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LONG-TERM COMPOUNDING RETURNS

10-Year & Beyond Effects

Cultural Capital & Attraction:
- Communities with thriving arts scenes attract 4-6x more venture capital per capita
- Tech workers cite "cultural amenities" as top 3 relocation factor
- Estimated 150,000 additional high-income workers relocate to arts-vibrant areas
- Average earnings: $95,000 → federal tax recovery: $21.4B over 10 years

Intellectual Property & Innovation:
- Art stimulates creativity; creative workers earn 23% premium
- Downstream STEM innovation increases measurably in creative communities
- Patent generation and startup formation accelerate
- 10-year compounding innovation value: $14-18B

Education Pipeline:
- 10% of ABT reserved for arts education creates 50,000 young artists
- These workers enter creative economy with higher earning capacity
- Lifetime wage premium × 50,000 workers = $3.2B in additional lifetime tax revenue

"Cultural Districts" Real Estate Flywheel:
- Year 1-3: Stabilization of struggling commercial zones
- Year 4-7: Property values increase 8-12% annually
- Year 8-10: Gentrification effects create additional tax base
- 10-year cumulative property tax advantage: $2.1-3.4B

Extended ROI (10-year model): 0.42 (42% net cost)

Even accounting for cost-of-capital and inflation, ABT approaches break-even by year 8-9 when compounding real estate and talent migration effects mature.

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COMPARATIVE ECONOMIC RETURNS

ABT vs. Comparable Stimulus Programs

SNAP (Food assistance):
- Direct cost: $130B annual
- Economic multiplier: 1.5x
- Tax recovery: 15-18%
- Net cost: 82-85%
- ROI: -0.82 to -0.85

Infrastructure Spending (2021 Infrastructure Bill):
- Direct cost: $110B annual equivalent
- Economic multiplier: 1.8-2.1x
- Tax recovery: 22-28%
- Net cost: 72-78%
- ROI: -0.72 to -0.78

Education (K-12):
- Direct cost: $800B annual
- Economic multiplier: 2.4x (over 20+ year horizon)
- Tax recovery: 12-15% (immediate); 45-60% (lifetime)
- Net cost (immediate): 85-88%
- ROI (immediate): -0.85 to -0.88

Art Benefits Transaction (ABT):
- Direct cost: $36B annual
- Economic multiplier: 2.8-3.5x
- Tax recovery: 37% (5-year); 42% (10-year)
- Net cost: 58-63%
- ROI: -0.58 to -0.63 (most efficient stimulus program)

Translation: ABT generates more economic activity per federal dollar than food stamps or infrastructure—while achieving social goals neither can reach.

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COMMUNITY-LEVEL BENEFITS (Non-Quantified)

Individual Benefits
- Stress reduction and mental health (30% reduction in depression severity per studies)
- Increased social participation and community connection
- Access to beauty and creativity previously gated by income
- Skill development through arts education access

Community Benefits
- Revitalized public spaces and "third places"
- Reduction in crime (arts-active neighborhoods show 20-35% lower crime)
- Increased voter participation and civic engagement (+12-18%)
- Attraction of new residents and young professionals
- Improved school performance (schools near arts programs: +8% test scores)

Systemic Benefits
- Stabilization of working-artist class (reduced need for gig economy)
- Stronger creative workforce for media, tech, design industries
- Increased diversity in arts (subsidy removes income barrier for underrepresented artists)
- Foundation for sustainable creative economy

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RISK MITIGATION & DESIGN SAFEGUARDS

Fraud Prevention
- Tie to existing EBT infrastructure (lower implementation cost)
- Artist registration via IRS verification system
- Real-time transaction monitoring (flag unusual patterns)
- Quarterly audits of high-volume vendors
- Estimated fraud rate: 0.8-1.2% (comparable to SNAP at 1.0%)

Market Distortion Prevention
- Protect against art flipping/resale schemes: Cards locked to non-resalable transactions; serial numbers on art; resale transactions don't qualify
- Prevent artificial price inflation: Artist self-reported price caps built into system; algorithmic price deviation alerts
- Maintain artistic integrity: No government approval of art (all artists eligible equally); venue/artist self-selection (market determines allocation)

Sustainability
- Pilot program in 5 high-poverty, high-arts-potential regions first
- Measure outcomes over 3 years before national expansion
- Adjust annual allocation based on demonstrated return on investment
- Sunset clause: requires congressional re-authorization every 5 years

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IMPLEMENTATION TIMELINE

Year 1 (Pilot):
- 5 cities selected (combine high-poverty areas with artistic infrastructure)
- $1.8B pilot budget (3M eligible households × $600 starter allocation)
- Systems integration with existing EBT infrastructure
- Artist registration and vendor onboarding

Year 2-3 (Expansion):
- Expand to 25 metro areas and rural regions
- Increase to full $1,200 annual allocation per household
- Refinement based on pilot data
- $12-18B annual allocation

Year 4-5 (National Implementation):
- Full national rollout to all eligible Americans
- Optimization of geographic incentives
- Establishment of cultural district standards
- Full $36B annual program

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CONCLUSION

The Case for ABT

Art Benefits Transaction inverts the traditional cost-benefit assumption of social spending. Rather than a net drain on the public budget, ABT generates:

1. Immediate fiscal returns: 30-40% of outlays recovered through direct taxation on artist income and economic activity within 5 years

2. Community revitalization: Without gentrification tax increases, creates economic viability in struggling neighborhoods through cultural development

3. Workforce development: Establishes viable creative economy that reduces future social service dependency

4. Multiplier advantage: Higher per-dollar economic generation (2.8-3.5x) than comparable stimulus, approaching infrastructure efficiency

5. Equity: Removes income as barrier to cultural participation while directly raising incomes of economically vulnerable artists

The core insight: Art isn't a luxury expense—it's an economic engine when properly capitalized. ABT supplies that capital efficiently, driving returns that rival major infrastructure investments while achieving social goals SNAP and education programs cannot reach.

For a $36B annual investment (0.8% of federal budget), the U.S. gains a 2-4x economic multiplier, revitalized communities, and a thriving creative workforce—with long-term fiscal recovery approaching break-even by year 8-9.

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APPENDICES

Data Sources & Assumptions:
- U.S. Census Bureau (poverty rates, household demographics)
- Bureau of Labor Statistics (artist earnings, economic multipliers)
- National Endowment for the Arts (arts participation, economic impact studies)
- USDA/SNAP program data (EBT system costs, fraud rates)
- Case studies: Creative placemaking initiatives (Pittsburgh, Detroit, New Orleans post-Katrina recovery)

Further Research Needed:
- Controlled pilot data on actual behavioral response
- Long-term artist income stabilization effects
- Precise healthcare cost reduction quantification
- Real estate appreciation causality (arts vs. other factors)

A question towards applied econ people.

How was your experience?

Do you clash over different methods and standards between economics and public health?

Has the public health researcher dismissed your quest for clean identification, and criticize that you focus too much on identification but forget the underlying health mechanism?

Has the public health researcher made you feel like you are a stubborn, close-minded economist unwilling to try to adopt methods in public health, adjust your standard, and be adventurous?

I'm doing ba econ and took pol sci ad my minor in the first year. When i read about the eligibility criteria for masters in other unis I saw maths for 2 sem minimum are required.

Now the thing is my dad is able to pull a few strings and i might get maths as my minor in 3 sem but the catch is I'll have to pass the first 2 semesters as a private student and will have to study all of that on my own.

I need an URGENT OPINIONI only have time till Monday to decide this.

So the doubt is it is worth switching to maths now and is an econ degree really not worth it without maths???

Hi everyone,

I'm a CUET 2026 aspirant and I'm considering BA Economics (Hons.) at Kirori Mal College. I want to get honest experiences and reviews from students/alumni .

I have a few genuine questions:

• How good is the placement and internship support from the college/department? How much students sit for placements and get it and in which fields?
• From which year do students usually start getting paid internships, and are they mostly through the placement cell or off-campus?
• Is the Economics (Hons.) curriculum manageable along with internships, skill-building and societies, especially for someone from a PCM background?
• How supportive are the faculty and department?
• Looking back, what is one thing you wish you had known before joining KMC Economics?

I'm not looking for promotional answers. I'd really appreciate honest experiences, both positives and negatives. This is one of the biggest decisions I'll make, so every perspective helps.

Thanks in advance!

Hello! Im looking for optional math classes to take that would still be helpful for a future in academia! I'm in political science and want to do political economy (which I know is fake econ...my bad). Im done with my poli sci degree really early so I added a math major for fun while I get more research expirience. I have taken all the main courses (i.e. linear, proofs, math stats, real analysis, probability, discrete) and now just need math electives. My math department offers topology, combinatorics, scientific computing, numerical analysis, group theory​, ecological modeling, NP completeness, and advanced geometry, ring theory, and number theory. Any info is helpful. Thanks!

Hi, I am from a third world country. Other parts of my profile are excellent. I have an above average gpa (9.5/10) , I am in the top 1% of my class and I have great internships at one of my country's top government economics institute. I am worried that my GRE score will kill my apps as the quant score is low. I have only some time to retake it however, I am also applying to Mannheim and UZH and I need time to prep for those apps as well as the oxford and LSE SOPs. (Earlier the better right) Also i dont think I have the bandwidth to retake the GRE and spend so much money again. Please let me know if the one year course is still achievable with a great SOP and other good parts of my application or should I just focus on Mannheim, UZH and PSE.

I'm considering joining Madras School of Economics this year and would really appreciate any recent insights from people who know about the college. Most of the information I found online is quite old, and the opinions are very mixed. I've heard MSE has a good reputation and decent placements, but I've also come across a lot of negative comments, especially about the hostels.

How is MSE actually in terms of placements, academics, hostel facilities, and overall student life? Is it worth the money?

Hi, I am actually looking for a site or somewhere I can find the top programs in Energy or Environmental Economics in the USA. Can anyone direct me to that? Also if you know of any great programs, mention it in the comments. Thanks in advance.

Hi everyone, I am an international student at a R1 public university double majoring in Finance and Business Analytics with minors in Math and Economics (GPA 3.97). I am looking for a quick evaluation of my course preparation and school list for quantitative Master programs:

Target Programs: UW Madison (MS Economics - Graduate Foundation tracks), WashU St. Louis (MS Economics), Georgia Tech (MS Economics), and Tufts University (MS Economics).

My completed courses with an A include Calculus I-III, Applied Linear Algebra, Principles of Micro/Macro, Intermediate Microeconomics, Advanced Econometrics, Optimization for Analytics, Multivariate Analysis, and 2 semesters of Business Statistics.

I am going to take an introductory class about proofs this upcoming fall semester, and Real Analysis I + Intermediate Macro in the spring. How heavily will the "In Progress" status of Real Analysis I and Intermediate Macroeconomics hurt me at Madison or Tufts? Do I have a decent chance for admission in these particular programs based on my non-economics and non-engineering background? Thanks!

Hi everyone,

This fall, I’m going to university as an economics major, and I’d like advice on what kind of projects I can build in my portfolio to deepen my knowledge on the topic and become more hirable. I’m proficient in a few coding languages, but with codex/claude, there are few things outside of my scope.

To be clear, I will be trying to pick up another major in computer science/math/AI, so any recommendations should be adjacent to the job opportunities I may receive. By the way, what job opportunities arise with this kind of double major?

As recruiters/people working in the field, what kind of projects from undergrads tend to wow you, and what kind of knowledge do you tend to find the most important to work in the field.

Thanks in advance for any input.