I regularly receive emails from economics students and recent graduates asking for career advice. Questions include:
Having worked in the Queensland public service and Australian Treasury, and now running Adept Economics, I’ve learned a few lessons I hope will help aspiring economists. I recently brought some of this advice together in an episode of my Economics Explored podcast, drawing on my experiences and conversations with some excellent guests, including Deb Brown, Nicholas Gruen, Leonora Risse and Andrew May.
Here are five lessons I’d emphasise.
Originally, I wanted to be a lawyer and enrolled in a combined law and economics degree at the University of Queensland. I studied economics in high school and grew up in the eighties paying close attention to economic news, but I didn’t think of economics as a career.
As I progressed through my economics degree, I became even more fascinated by the subject. I had outstanding lecturers, including Harry Campbell and Phil Bodman, who showed how powerful economic analysis can be in helping us understand the world. Eventually, I changed my mind and pursued a career in economics.
While the advice to “follow your passion” has been heavily criticised, I still think it’s good advice to pursue something that genuinely interests you and that you’ll remain curious about. Economics covers a wide range of topics, including international trade, energy markets and climate change policy, and financial markets, among others. Many economic questions and phenomena remain unsolved or only vaguely understood, so there are plenty of issues to tackle.
Technical skills are important, but they’re not enough. The best economists I’ve worked with can think critically, assess evidence and communicate their findings clearly.
When I worked at Treasury, I saw how important good writing was. You might have an excellent economic analysis, but if you can’t explain its implications clearly to senior officials or ministers, its impact will be limited.
Professor Deb Brown, a philosopher at UQ whom I interviewed for Economics Explored, has emphasised how highly employers value critical thinking.
These skills are arguably becoming even more important with AI. Tools such as ChatGPT and Claude can now write computer code, analyse data and produce drafts. But they can also make mistakes. We still need economists who can question assumptions, recognise flawed reasoning and exercise sound judgment.
I’d encourage graduates to think carefully about where they’ll receive the best training, rather than simply chasing a prestigious job title or a high starting salary.
For economists choosing a non-academic career path, I generally recommend starting in institutions such as the Treasury, the Reserve Bank, or the Productivity Commission. These organisations provide opportunities to work on important economic questions alongside experienced economists, learning from them along the way. For example, at Treasury you could work on the federal budget or a prominent inquiry into the tax system.
Consulting can be rewarding too. I’ve certainly enjoyed the variety and independence it offers. But consulting firms can be demanding places for graduates, with long hours and intense competition. You may have heard about the “finder, minder, grinder” model in big consulting firms. The graduates and new hires are the grinders.
One of the best pieces of career advice I’ve encountered comes from Seth Godin’s book Linchpin. He argues that remarkable people don’t need CVs. Their work speaks for itself.
Relative to when I studied in the nineties, economics students have extraordinary opportunities to demonstrate their abilities to potential employers. They can publish articles on Substack, analyse economic data and share their insights on LinkedIn, produce YouTube videos or start a podcast. They don’t need an internship at a prestigious organisation to prove that they can do valuable work.
Cal Newport makes a related argument in So Good They Can’t Ignore You. Focus on developing valuable skills and producing work that demonstrates them.
AI makes producing content easier, but that makes original thinking and genuine insights even more important. We’re all becoming pretty good at identifying AI slop.
One of the most important opportunities in my career arose almost by accident. While working in the Queensland public service, I occasionally helped colleagues in another unit just across the corridor with data analysis. The co-location was more or less accidental, as the two units didn’t overlap in policy terms, but it meant I was doing valuable work for one of the department’s senior figures, Paul, who later brought me into his team to work on important Cabinet submissions.
Paul subsequently invited me to an Institute of Public Administration Australia breakfast where Ken Henry, then Secretary to the Australian Treasury, was speaking. I was incredibly impressed by Ken’s presentation on Australia’s long-term economic and budgetary challenges, and his clear explanation of the 3Ps framework, which decomposes GDP growth into contributions from population, productivity, and participation. I remember leaving that breakfast thinking I’d love to work for him.
A few months later, I applied for a position at Treasury and was successful. I credit my enthusiasm for working for Treasury following Ken’s talk for helping me get in.
The lesson is to help others and take opportunities to learn from people you respect. You never know where those relationships might lead.
AI is already changing how economists work, and I expect there are further changes to come. But I expect curiosity, critical thinking, clear communication and strong professional relationships will remain essential for economists.
It’s also important to look after your health and wellbeing. A career is a long-term proposition, and avoiding burnout matters. The podcast episode I’ve shared with you includes great insights from Performance Intelligence’s Andrew May, arguably Australia’s top corporate performance coach. Andrew’s clients include CBA CEO Matt Comyn among other corporate high flyers.
Gene Tunny, Director, Adept Economics
Published on 2 November 2026. For further information, please get in touch with us via contact@adepteconomics.com.au or by calling us on 1300 169 870.