Tuesday, November 23, 2010

Google, Yahoo don't just hire tech geeks---they also hire economics geeks, err, I mean majors...

For those of you thinking about majoring in Economics and wondering what you can do with it, this article may inspire you. I took a few excerpts but you may want to read the whole thing.  As I have said in class often, all sorts of organizations (business, government, NGO's, etc) are looking for people who can look at processes and resources in new and creative ways.  I believe "the economic way of thinking" does just that.

Google, Yahoo, other Silicon Valley tech giants add economists to arsenal
In addition to software engineers, computer scientists and Web designers, Silicon Valley giants ranging from Yahoo to Google to eBay are scrambling to hire economists, little-known and increasingly valuable weapons as these companies create new businesses and fine-tune existing ones...

"Other companies have recognized that economists really have a lot to contribute," said Varian, who joined Mountain View-based Google full time in 2007 after having worked as a consultant for the search giant since 2002. Google has 10 economists, statisticians and other quantitative analysts on Varian's staff, and is looking to hire more.

Internet companies see the economists as critical in their efforts to fine-tune advertising networks that serve millions of online ad impressions a day, and to better understand e-commerce platforms with tens of millions of buyers and sellers. Economists can also help determine whether new businesses or approaches will be effective.
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