M2 Choice – Econometrics and Empirical Economics (EEE)

Current student – M2EEE_CurrentstudentGaudéric Thiétart

Which aspects of your chosen program were the most challenging?

I would say what is the most challenging in M2 EEE is using and learning several software languages at the same time.  Some teachers prefer Stata or R, others want you to learn Matlab or Eviews. Sometimes it can be quite confusing, but it is also very useful, as we will know how to adapt depending on the software used by our future company.

In addition, and in a more personal way, it was quite challenging for me to go back to TSE after my gap year. Even though I studied one semester abroad, the courses I chose were not particularly related to econometrics, which is why I was quite worried about coming back in M2 EEE. I would advise people returning from their gap year to read quickly their M1 courses before beginning their M2. However, do not worry too much, you will not be the only one in this case!

Which was your favourite course(s) and why?

To be honest, I was a bit disappointed with the classes I had during the first semester. I thought that being in M2 would have meant more practical work; however, in my opinion, the courses remained very theoretical. In this sense, I really enjoyed the “Programming in Python” class because our teacher was a Data Scientist from Deloitte in New York City. To have a professor coming from one of the main international consulting firms was interesting to see how the theoretical and programming skills we have are practically used at work. I hope these links between firms and TSE will be improved in the future in M2 EEE.

What do you plan to do next?

In the short run, I will do a six-month internship at la Banque de France. I will work for the Diagnostic conjoncturel (Short-Term Diagnosis) service to help in the forecasting of French GDP and to improve their econometric models. After that my plans are not really defined yet. If I enjoy my experience at la Banque de France, I might keep on working in this macroeconomics/forecasting area. I would also be interested in working for the public sector or in an international agency such as the OECD.

 

Alumni – Joël Brehin

What are you up to now?

During the BND, I found an internship as a data scientist for BI Consulting, consisting in  trying to fit a predictive model of car accidents. After this, I was hired as a general data consultant, potentially called on tasks of data science but also of data engineering. Currently, I am carrying out a mission as a data engineer. This position is a good opportunity for me to develop my skills both in data science and on more technology-related tasks. I was able to learn new programming languages such as Scala and to get a better understanding of distributed architecture for Big Data.

What skills acquired in M2 are relevant for your current position?

During the EEE M2, I was able to get a good theoretical foundation in statistics and econometrics that helped greatly when developing a data science algorithm. Indeed, in contrast to a computer science degree, it gives me a better grasp of the mathematics at work in these models. My studies were also my first experience of programming in Python and R, which are languages I am often using. It was also a good entry point to learn other languages. Most importantly, this experience in programming is something I found a strong liking to, although I had never considered it before. Finally, because  EEE is mostly based on practical applications and group projects rather than finals, my transition to the labour market was easier. I did not take too much time to adjust to hard deadlines, group work and working on my own.

 

 

M2 Choice – Statistics and Econometrics

M2EcoStat_currentstudent2Current Student – Joseph Agossa

Which aspects of your chosen program were the most challenging ?

Among the courses I have chosen this year, I can say that the most challenging for me were Mathematics of deep learning algorithms. Deep learning knowledge can be described in terms of four distinct aspects:

  • Knowledge of multiple models and multiple viewpoints of the domain.
  • Knowledge about the relations between different models and viewpoints.
  • Knowledge of reasoning procedures to solve quantitative and qualitative problems.
  • Knowledge of first principles and knowledge to reason on their basis in order to solve novel or unfamiliar problems

Deep learning algorithms can be successfully applied to big data for knowledge discovery, knowledge application, and knowledge-based prediction. In other words, deep learning can be a powerful engine for producing actionable results.

Which was your favourite course(s) and why? 

My favourite courses were Survey Sampling and Time series because they are very useful and applicable to real life cases. My favorite part of being in a master in Statistics and Econometrics  was being challenged by professors with interesting problems, especially the real application of Time Series, and survey sampling projects.

What do you plan to do next ?

I will start my internship on April 06, 2020 in the international company IQVIA-France in Paris.

I will work as an Economic Statistician in the Real-World Solutions (RWS) Department of IQVIA France, which brings together a team of 100 multidisciplinary and highly qualified consultants in market access, real-life studies, health economics and epidemiology.  Future plan after graduation will be to find a job as a Data Scientist in Paris or Washington.

M2 Choice – Environmental and Natural Resources Economics (ERNA)

Current Student – Charlotte Chemarin

Which aspects of your chosen program were the most challenging? 

I think one of the most challenging aspects is that we have a lot of oral presentations to do – at least one per course. It is something I am not comfortable with. Nevertheless, I know it is important to develop oral skills, so it is useful. We also read a lot of academic papers and have many group projects – but still less work than in M1, no worries.

Which was your favourite course(s) and why? 

I prefer courses that are more applied and that teach us practical skills. I also like Mr Amigues’s classes where we can challenge our beliefs and see things differently, regarding, for example, economic growth and the environment, management of biodiversity, pollution, etc.

The truth is that I am really interested in environmental topics and it is motivating to finally focus on it in every course. Hence, I enjoy this year more than the previous ones.

What do you plan to do next?

It is always tricky to answer this kind of question. To be honest, I do not know yet – and hopefully I am not the only one. I want to work in environment-related topics for sure, perhaps more precisely on agriculture and resilience. This is why I am doing my M2 internship at the INRAE. I hope it will help me figure out what I want to do.

M2E_E_Current StudentCurrent Student – Jérémy Ferrante (Economics and Ecology Path)

Which aspects of your chosen program were the most challenging?

Considering the double approach of our master program, it is quite normal for students from an ecology background to struggle with some principles of economics, and vice-versa. I had already completed a master’s degree in socio-environmental management prior to my arrival here at TSE, and this previous formation included very little mathematics, let alone economics! So, quite naturally, the most requiring parts of this whole Ecology and Economics program were to be found, in my opinion, in some mathematical aspects of economic theories. Though it has been manageable so far.

 Which was your favourite course(s)and why?

I would say that the classes we followed in the CNRS research center in Moulis (Ariège) were both the most exciting and most original classes I had this year. They were about many topics, such as environmental modelling, economic valuation, or even philosophy of sciences. Moreover, some of them were conducted following the problem-based learning approach, which favors autonomy and “cross-learning” between students.  However, for me, the most enriching courses were probably the more “conventional” ones in pure economics, as I was almost ignorant of everything in this field. For instance, Non-Market Valuation with Mr. Henrik Andersson, or, in the second semester, Ecosystem Management and Policies with Mr. François Salanié.

What do you plan to do next?

Here comes the big question! Well, my usual answer is that I have always proceeded one step at a time. And I plan to do just that in the upcoming years. For now, I found an internship at EDF, on the economic opportunities related to the sediment sludges, a by-product of hydropower generation. As for what’s coming next, who knows? One step at a time.

 

M2ERNA_AlumniAlumni – Valérie Furio, Climate Policy Initiative

What are you up to now?

I am currently in London working for Climate Policy Initiative (CPI) as an Analyst in the Climate Finance program, where I was hired after a summer internship that I completed for my M2 ERNA. The CPI is a non-profit international research organisation, with the climate finance program focused on advising policymakers and financial actors on how to achieve a Paris Agreement-aligned economic growth and development through finance. This ultimate goal is approached from several angles: tracking of climate finance flows, advising governments and development finance institutions on their climate finance portfolio, and the development of innovative financial instruments.

Despite having joined the organisation less than a year ago, I have been involved in many different projects. For example, I have worked on tracking finance flows (essentially collecting and consolidating data, then providing an analysis of it) for energy access – looking at technologies enabling access to electrification, as well as clean cooking technologies and fuels, which is a topic with interesting development implications. Another project I worked on was to help an institution develop an air pollution bond, which is an innovative financial instrument issued by a municipality, with proceeds going to financing air pollution reduction projects in the city. These are just examples of projects, but the work is varied and fascinating and can go from looking into blockchain insurance for smallholder farmers to the role of subnational governments in climate finance, or from the financial barriers women face in accessing energy to how data can be leveraged to track private finance. We are also encouraged to think of ways to improve methodologies and come up with new research proposals, which is an exciting part of working for CPI as we feel involved in the organisation’s development.

Which skills, acquired from studying at the TSE, have you found useful? 

The ERNA M2 is a great preparation for many different types of work in this space – whether that be with a focus on energy, climate change, development, or public policy evaluation, the master has at least one class focused on these topics that will help explore these interests. The class on green policies is a staple for understanding the wider context, as well as the energy economics and climate policy class. However, my work at CPI is quite wide in scope and I found that all my classes in ERNA provided useful insight. As always, familiarity with econometric methods and program evaluation are useful when doing a quality literature review, and the knowledge of programming languages such as R and Python are useful to our work and increasingly employed, as well as SQL.

Last but definitely not least, writing and communications skills are highly valued in organisations like  CPI, and thus participating in the TSEconomist was an excellent way of honing those skills in a school like TSE – I would highly recommend it!

M2 Choice – Economics and Competition Law (ECL)

M2ECL_CurrentstudentCurrent student- Luc Greiner

Which aspects of your chosen program were the most challenging?

The M2 Economics and Competition Law program is mostly about applying industrial organisation concepts to assess competition on current markets and industries. As it is more applied, it is not as challenging as, for example, the M1 Economics and Law, since most of the theoretical knowledge was acquired in M1 and during the previous years at TSE. What is challenging is the economics and law program as a whole, from the first year – L1 – on: Studying both economics and law can be difficult because the methods used and the required learning are very different between both fields.

Which was your favourite course(s) and why? 

My favourite course is « Topics and Cases in Competition Policy »  because it focuses on some of the European Union Commission’s landmark cases that shaped EU competition law. One of the purposes is to discuss the application of industrial organisation to real-world mergers and alleged anti-competitive behaviours, which is always very interesting. In this course, it is also great to welcome expert economic consultants to study hot topics in competition economics, and expert lawyers to review the intricacies of competition law. This year, we are even participating in a mock trial with respect to the Facebook-Instagram merger with a jury of professionals.

What do you plan to do next?

In a few months, I will be starting an internship in economic consulting in the field of competition economics. I look forward to continue applying industrial organisation to real-world cases. In my opinion, this is the most interesting part of economic science: figuring out what theories can explain the facts. And with digitisation, and the rise of platforms, economic consulting is the place to be to study the latest issues in economics!

Alumni – Frédéric Axisia M2ECL_Alumni (2)

What are you up to now?

I’ve been working for nine months at TERA Consultants, a consulting firm in Paris gathering both economists and engineers. TERA is specialised in telecommunications and deals with competition and regulation cases. As a result, the job can offer a large variety of missions. Since I arrived, I have been involved in several litigations before the French Competition Authority, a lot of trials before different commercial courts for unfair competition practices, but also in the design of a margin squeeze model for a European regulator. Most cases I work on are related to the telecom field, but not all. It is quite challenging at first to understand all the mechanisms involved in that field but also quite rewarding to develop an expertise in such an evolving domain of the economy.

Cases apart, as the firm only has around 15 employees, we obviously all know each other and go sometimes for an afterwork drink. You also won’t be home sick in Paris, as half – if not more – of TSE graduates live there! I only miss being an active member of a student association…

Which skills, acquired from studying at the TSE, have you found useful?

It might disappoint some people, but I would say that the most important right now is my writing skill. You of course need an economic understanding of the cases you work on. But as I have to write economics reports intended for courts on a daily basis, being able – thanks to my law cursus – to organise my arguments and present them in a proper way is essential. Essential, but not sufficient. When working on competition cases, I did some econometric analysis – using STATA – and used economic literature to back up my points. And when working on the margin squeeze case, I had to understand a quite complex Excel model. As for the rest, economic reasoning learned through different classes would be what most consulting firms look for.

Finally, as a former member of the association Say It Aloud, I cannot emphasise enough the importance of public speaking. That way, you can look like you know, even when you don’t.

M2 Choice – Economics of Markets and Organizations (EMO)

Meet_the_board_ArthurCurrent student – Arthur Biamouret

Which aspects of your chosen program were the most challenging?

The M2 EMO is not technically or theoretically difficult, but I think that the hardest part for me was to do theory. After my gap year – two internships and a trip – I was expecting to do applied economics, but the M2 EMO is still quite theoretical. Obviously, we do not learn this for fun, we need it in our future jobs and it was very useful for interviews. But still, you need to be ready to go through some Cournot, Bertrand and Hotelling models for one more year. Fortunately, most of it was not difficult, and was interesting and well supported by very good applied papers.

Which was your favourite course(s) and why? 

My favorite course was Empirical Analysis of Firm Behavior. The teacher (Mathias Reynaert) is very good and the course is focused on applied methodologies. We had two homeworks to do, which allowed us to practice STATA and to apply the economic theory seen during the previous years. During this class, we discussed interesting topics using applied papers and real life examples. Moreover, the class was a good complement to another one which was more theoretical.

What do you plan to do next?

After the M2 EMO, I would like to work as a consultant in competition economics. I have always been interested in competition issues since we, as consumers, can feel the consequences of those decisions in our daily lives (telecommunication, retail, transports, etc). I have always wanted to be at the heart of those decisions which often strongly impact people’s environment. Moreover, competition issues are present in every sector, and working as a consultant will give me the opportunity to discover diverse topics and methodologies. For the next six months I am going to Brussels in order to do my internship with the firm Positive Competition.

M2EMO_AlumniAlumni – August Aubach Altès

What are you up to now?

I am an economic consultant at Analysis Group in Paris. The vast majority of our cases concern French and European competition matters. My primary job is to integrate industrial organisation theory and econometrics, along with current quantitative methods, to analyse the conduct and market dynamics at issue in antitrust litigation and merger investigations. At present, I am involved in an important case that involves competition in digital media markets.

I started as an intern in June 2019 and then received an offer as a full-time Analyst in December. One of the main reasons I decided to stay at Analysis Group is that the firm offers the right balance between academia and the real world. The work allows me to deepen my understanding of market structures and firms’ strategic choices, from both a theoretical and an empirical perspective. The work environment at Analysis Group promotes cooperation and knowledge sharing. I am currently working with and learning from experts in industrial organisation. I would like to pursue a Ph.D. in economics, with a specialisation in industrial organisation, and I believe that this experience will undoubtedly help me shape my future research.

What skills acquired from TSE do you find useful in your work?

TSE gave me a comparative advantage over other graduate students with similar profiles. Courses at TSE provide the skill set that is required for any job. As one might expect, hard skills such as economic reasoning, data analysis, computer programing and writing abilities are essential in all types of consulting work. However, the above-mentioned is a necessary, but not sufficient, condition to stand out, and it is the set of soft skills that I learned at TSE – such as time management, teamwork and flexibility – that are crucial. These skills have proven particularly useful, as most of the work is done in teams – that is, working regularly with people who have different backgrounds and work styles.

Regarding the EMO track, it has positioned me ideally for this role by giving me the opportunity to analyse in class many competition cases from a variety of standpoints. The opportunity to engage with these cases – such as horizontal mergers, exclusionary contracts and collusive behaviours in two-sided markets – allowed me to understand how economic agents should be understood depending on their incentives and on the configuration of the market. Therefore, one of the main takeaways from the EMO master that I have implemented at Analysis Group is that each case should be analysed from a rigorous and critical economic perspective, and as an independent and unique event.