Economics » News

Government’s seven New Town locations scored against real-world demand data - Manchester and Leeds most likely to succeed

Tue, 31 Mar 2026 12:14:00 GMT

The Warwick economists behind the Wheretobuild housing demand mapping tool have used their database to test the government’s seven-site shortlist against measures of likely success, and ranked the sites to help policymakers decide which to finally greenlight.

Dr Datta explains:

“Whether large new developments succeed or fail depends crucially on pre-existing demand for housing in the area. And that housing demand is driven by underlying economic fundamentals– such as access to jobs, as well as services and amenities.

“Housing supply does not automatically generate demand. So there is a real danger that if demand is not taken into account, these New Towns could be built in the wrong places.”

In A Scorecard for the Seven New Towns, Dr Nikhil Datta and Dr Amrita Kulka test each of the seven shortlisted sights against their data on real-world demand at neighbourhood level, access to jobs, availability of amenities such as schools, shops, restaurants and healthcare, and connectivity.

They also take into account whether new transport links are part of the proposals.

Ranked against these criteria, the scorecard shows:

Dr Kulka added:

“The government’ s new town strategy is one part of its efforts to address the UK housing shortage through large-scale development. However, the success of such projects depends less on the quantity of housing built and more on where it is built.

“Our analysis highlights stark differences across the proposed sites. Locations such as Manchester and Leeds benefit from strong existing demand and connectivity, making them well-positioned for rapid and successful development. Others, particularly Tempsford and Enfield, face significant structural challenges that may limit their viability.”

A Scorecard for the Seven New Towns. CAGE Background Brief. Dr Nikhil Datta and Dr Amrita Kulka, 31 March 2026.

Turning economic thinking into opportunity: alumnus Deniz Ahmet Derici reflects on his career journey from global consulting to entrepreneurship

Mon, 30 Mar 2026 12:35:00 GMT

Our former student Deniz Ahmet Derici (BSc Economics and Industrial Organisation 2013), founder of the e‑learning company Prepmatter and former consultant at Boston Consulting Group (BCG), spoke with first‑year student Daniel Whitehouse about his journey from Warwick to consulting and ultimately entrepreneurship.

Reflecting on his studies, early career decisions, and the experience that led him to create Prepmatter, Deniz shares insights into consulting, career ownership, and building skills early.

Deniz was interviewed by Daniel Whitehouse, current BSc Economics and Management Y1 student on 11 March 2026.

Q: How do you describe what you do?

I am the Founder of Prepmatter, a platform that helps candidates prepare for consulting interviews. My work includes creating case studies, producing YouTube content, building learning materials and coaching candidates one‑to‑one. I’ve coached more than 700 people over seven years, and I still enjoy staying close to the interview process.

Q: What originally drew you to economics, and why Warwick?

Growing up in Turkey, most students pursued medicine or engineering, but I was drawn to maths, logic, and understanding how decisions are made. I always wanted to study abroad. Warwick appealed as a campus university with a strong economics reputation and a supportive environment for international students.

Q: When did consulting start to feel like your direction?

In the first year, you’re settling in, but the second year brings conversations about careers. Many competitive students were aiming for consulting or banking, so I attended events and spoke to people in the industry. That led to an internship at Kearney, which opened doors to BCG. I never seriously considered investment banking.

Q: What does consulting look like day to day?

At its core, consulting is about problem-solving. Companies or governments bring in consultants when they face major decisions – entering a new market, launching a product, or improving performance. The job is to break down a complex problem, structure it properly, and help the client reach a decision.

The work is also highly varied. One project might involve a growth strategy for a company, and the next could be with a government on something entirely different. At BCG, for example, I worked on government projects aimed at reducing unemployment and increasing female workforce participation, areas you might not expect when you first think of consulting.

Q: From due diligence to transformation work, which projects were most rewarding for you?

The most intense work was in commercial due diligence projects, fast-paced projects where you assess whether an investor should acquire a company or enter a market. Timelines are short, so you have to understand a new industry quickly, speak to experts, and form a view with limited information, often working long hours.

But that pressure is also where you learn the most. You’re pushed to think quickly, move fast, and make decisions with limited data.

Q: What do students often misunderstand about consulting when they first try to enter the industry?

One thing I initially misunderstood was how much control you have over your career. Early on, I was quite reactive, taking whatever project came my way and not investing much in building relationships with the firm. Over time, I realised you can shape your path far more than you think by actively seeking out the industries and topics that interest you.

For example, at BCG, I became interested in the public sector, so I connected with people working in that area, which eventually led to projects in the Middle East. I spent about two years there working on labour market and defence-related topics. Consulting becomes much more interesting when you take ownership of your direction.

Q: After several years in consulting, what led you to step away and start Prepmatter?

After about six years in consulting, I started thinking more seriously about the long term. The partner track demands significant time and commitment, and while consulting is rewarding, it also comes with long hours and constant pressure. In 2019, during a particularly demanding period, I realised that if I was going to invest that much energy into something, I wanted it to be something I was building myself.

I had already been coaching candidates on the side while I was at BCG, and after leaving, I gradually took on more clients. Within a year, it became clear it could grow into something bigger, and that eventually became Prepmatter.

Q: Prepmatter has grown globally – what made it resonate with candidates?

The coaching space is crowded, but many people do it alongside full-time jobs or only briefly. I committed to it fully, which meant I could work with a large number of candidates and really understand the process. Over time, that experience showed me what actually works and where candidates struggle.

The platform is also grounded in real consulting experience. I work with a team of consultants who contribute to the content of the platform, so the advice comes from people who have actually done the job, and that credibility helps build trust.

Q: What separates candidates who succeed from those who struggle?

The biggest factor is preparation time. Many think consulting interviews rely on natural ability, but most skills can be learned. Strong candidates prepare for six to eight weeks; those who struggle often try to do everything in one or two. Firms give little notice before interviews, so you need to start preparing early.

Q: In what ways did Warwick Economics shape how you tackle problems now?

One of the biggest influences was the people. Warwick attracts strong students from around the world, and being in that environment pushes you to improve how you think, communicate, and work. It was also the first time I realised I was no longer a big fish in a small pond.

At the same time, the degree gave me a strong set of fundamentals that I still use today. Studying economics built my understanding of supply and demand, market structures, and competition law, which I’ve directly applied in my consulting projects.

I also developed a strong interest in game theory, which I explored in my third-year dissertation at Warwick. I still use that way of thinking today, whether it’s anticipating competitor moves, structuring negotiations, or making sales decisions.

Alongside that, I took finance and accounting courses, which gave me a solid grounding in reading financial statements and doing financial analysis. At BCG, I was often the person others turned to for this, and that foundation came from Warwick.

The emphasis on independent study tied all of this together. A lot of the real learning happens outside lectures, and that taught me how to be self-directed, which has been critical ever since.

Q: What should Warwick students focus on if they want to break into consulting?

Get involved early. Societies like Warwick Consulting Society give exposure to case interviews and industry connections. Speaking to alumni helps you understand the job and can lead to referrals. Build skills while you have the time—once you start working, it becomes harder.

Q: If you were starting again as a Warwick economics student today, what would you do differently?

I would try to get exposure to consulting earlier. I didn’t gain any real experience until after Warwick, with my first experience coming the summer before my Master's. If I could go back, I’d get involved in consulting societies sooner and take part in student projects to build relevant experience much earlier.

On a more personal note, I was very involved in the Warwick Salsa Society and spent a lot of time dancing, but I only joined in my second year. I would have joined earlier – university is only three years, so it’s worth making the most of it.

How to contact Deniz

Deniz’s LinkedIn page: https://www.linkedin.com/in/derici/

New student research featured in the 10th edition of the Warwick Monash Economics Student Papers series

Mon, 30 Mar 2026 09:38:00 GMT

Eight outstanding undergraduate dissertations have been selected for inclusion in the Warwick Monash Economics Student Papers (WM-ESP) series, now available via the online portal. This year’s cohort features four papers from Monash University and four exceptional contributions from students in the Department of Economics at Warwick, listed below:

Mia Vorster (MSc Economics and International Financial Economics 2025, Warwick)

Mia is an Analyst at Ebiquity PLC. Her paper is titled: "Is French Gender Pay Gap Transparency Legislation Effective?".

Taher Fahmi (BSc Economics 2025, Warwick)

Taher is a Senior Economist at the Bank of Egypt. His paper is titled "How NOT to Conduct Monetary Policy: The Case of Turkiye".

Zuzanna Markiewicz (MSc Economics, Warwick)

Zuzanna's paper is titled "Competitive Impact of the 1,500-Hour Rule on U.S. Airlines: Evidence from U.S.–Canada and U.S.–Mexico Markets".

Khushi Sampat (MSc Economics 2025, Warwick)

Khushi is currently working self-employed as a Private Tutor. Her paper is titled "Learning Correlated Equilibrium Via Neural Network Regret Minimisation".

The WM-ESP portal showcases some of the most original and innovative research produced by undergraduate and postgraduate students across both institutions. Since launching in September 2021, it has featured the work of 100 students, reflecting their academic excellence and contributions to the Department’s research culture.

The initiative offers a platform for emerging economists to share their perspectives on both global and local economic challenges. The topics covered are wide-ranging, including monetary policy, sustainable growth, labour economics, immigration, education, climate change, gender inequality and healthcare.

Dr Cecilia Lanata-Briones, key member of the WM-ESP Editorial Board commented:

"We’re proud to present high-quality work that not only reflects academic excellence but also encourages current and future students to engage deeply with research—developing critical thinking, gaining fresh insights, and contributing meaningfully to the field."

We extend our congratulations to the students whose work has been recognised in this latest cohort. Their research reflects the intellectual rigour and curiosity that define our academic community. We wish them continued success in their future academic and professional pursuits.

To explore the featured papers, please visit the WM-ESP portal.

Success for Department at the Research Celebration Awards 2026

Fri, 27 Mar 2026 12:26:00 GMT

Dr Bhaskar Chakravorty and the CAGE Research Centre's schools project, in partnership with Discover Economics, were among the winners in this year’s Research Celebrations Awards.

The awards are organised to recognise the individuals and teams whose contributions drive Warwick’s research excellence. Nominations were invited at the end of Term 1 and the awards ceremony took place on Monday 23^rd March, launching Warwick’s Research Culture Week.

Dr Bhaskar Chakravorty was a winner in the Research Impact category. This category celebrates individuals and/or teams who have made significant contributions to achieving Research Impact at Warwick.

Bhaskar was nominated for the impact of his work in partnership with the State Livelihood Promotion Societies of the Government of Bihar (BRLPS) and Jharkhand (JSLPS) in India, evaluating and making recommendations for changes to a large-scale vocational training programme which supports disadvantaged rural youth into the labour market.

Reflecting on his award success, Bhaskar said:

“I’m very grateful for this recognition. My work is a collaborative endeavour between many partners, which will make a real difference to young people in rural India. It’s wonderful to see my contribution recognised with a Research Impact award.”

The CAGE Research Centre received an award in the Research Communications, Storytelling & Publicity category. This category recognises the achievements of individuals and/or teams in research-led public engagement.

CAGE was nominated for the team’s ongoing project with Discover Economics, which has developed a suite of bespoke videos and teaching resources to help schools broaden the appeal of economics and attract young people from under-represented groups.

The resources include contributions from renowned experts such as Nobel Prize winner and Warwick economics alumni James Robinson, who explores the long term effects of colonialism on economies today. Since the pilot in 2023, 13 explainer videos have been created using CAGE’s expertise. The teaching materials and videos have been shared widely through the partnership’s networks with almost 62,000 views online.

Commenting on the award, Sam McLoughlin, Senior Campaign Manager for the RES Discover Economics project, said:

"The school project with CAGE is now in its third year and I am delighted that the work has been recognised through this award. The project has enabled us to reach groups of young people who might not ordinarily see themselves embarking on a career in economics."

Head of Department Jeremy Smith said:

"Many congratulations to Bhaskar and to our colleagues in CAGE on these thoroughly well‑deserved awards. Their work exemplifies the best of Warwick Economics—research that is rigorous, collaborative, and genuinely transformative in the wider world. We are immensely proud of their achievements and the impact they continue to make."

For more about the awards and a full list of 2026 nominees and winners, visit https://warwick.ac.uk/research/research-culture-at-warwick/celebration-event/2026
PHOTO - Sam McLoughlin presenting at a recent CAGE/Discover Economics schools event.

Warwick Economics Ranked 25th in the World in QS Subject Rankings 2026

Wed, 25 Mar 2026 10:18:00 GMT

We are pleased to announce that the University of Warwick’s Department of Economics has been ranked 25th globally in the QS World University Rankings by Subject 2026 for Economics and Econometrics. This outstanding result places us firmly among the world’s leading departments in the field.

The QS Subject Rankings draw on research citations and major global surveys of employers and academics, assessing universities across 55 academic disciplines worldwide. Achieving a position in the global top 25 reflects the strength, influence, and international reputation of our Department’s research and teaching.

The Department has been placed in the top 5 in the UK, closely behind the LSE, Oxford, Cambridge and UCL.

Professor Jeremy Smith, Head of Department, shared his enthusiasm:

“I’m absolutely delighted that Warwick Economics has once again been ranked among the world’s top 25 departments in the QS Subject Rankings. This recognition reflects the sustained excellence, ambition, and impact of our research and teaching, and the collective efforts of our entire community. Our staff and students continue to push the boundaries of economic inquiry and educational innovation, and I’m immensely proud of what we have achieved together.”

Warwick surges in global subject rankings with record-breaking performance

Warwick Economics students visit the Bank of England for insights into real-world policy making

Mon, 23 Mar 2026 11:15:00 GMT

On 24 February, a group of Warwick Economics students visited the Bank of England for a day of hands-on learning about economic analysis and policy. The visit was coordinated by Dr Farzad Javidanrad and hosted by colleagues from the Bank’s Data & Analytics Skills Team.

Our students took part in a series of interactive sessions delivered by Bank of England Policy Advisers, Technical Specialists, Analysts and Economists and covered a range of topics: Economics in Practice, Assessing the Economic Outlook for the Monetary Policy Committee, and Financial Risk. They also heard an engaging talk on the transition From University to the Graduate Economist, offering practical advice on career pathways within the Bank.

The visit concluded with a guided tour of the Bank of England, giving students a unique perspective on one of the UK’s most influential institutions.

Dr Javidanrad reflected on the value of the experience:

“Our students thoroughly enjoyed the experience and found it extremely valuable. The opportunity to hear directly from practitioners and to see how economic analysis informs real-world policy making made a very strong impression on them. Many have commented on how the visit helped them see themselves in professional roles like the ones they encountered during the visit. We’re extremely grateful to the Bank of England for this opportunity.”

We invited students to share their reflections from the visit. Here is what some of them had to say:

Reflections from the Bank of England Visit – by Martin Muriungi (MSc Economics)

"Walking through the historic doors of the Bank of England on Threadneedle Street was a moment that made economics feel tangible in a way textbooks rarely can. As MSc Economics students at the University of Warwick, we spend much of our time discussing models, forecasts, and policy frameworks in lectures. This visit offered a rare opportunity to see how those ideas translate into real decisions that shape the economy.

The afternoon began with opening remarks and a discussion on “Economics in Practice”, where Beth Hall, Olivia Richardson, and Shahin Ashkiani highlighted how economic analysis, data, and collaboration intersect within the Bank’s work. What stood out to me was the emphasis on combining economic intuition with rigorous data analysis—reminding us that modern policymaking increasingly relies on interdisciplinary skills that extend beyond traditional economic theory.

One of the most fascinating sessions focused on how economists at the Bank assess the economic outlook for the Monetary Policy Committee (MPC). Catherine Cormack and Sumer Singh walked us through the forecasting process, explaining how the Bank evaluates risks around inflation, growth, and financial stability. For many of us studying macroeconomics, it was striking to see the analytical frameworks we learn in class reflected in the real-world forecasting tools used to guide policy discussions.

Another highlight was hearing from Zaar Khan, who discussed the work behind the Monetary Policy Report. His explanation of how complex economic analysis is distilled into clear communication for policymakers, markets, and the public emphasised an important lesson: economics is not only about rigorous analysis but also about effectively communicating insights and uncertainty.

The session titled “From University to the Graduate Economist: What to Expect”, delivered by Kamran Vaishnav, was particularly inspiring for students thinking about careers in economic policy. Hearing about the transition from postgraduate study to applied economic analysis at the Bank provided a valuable perspective on the pathways available to aspiring economists.

Later, Benjamin Grant-Jones from the Prudential Regulation Authority shared insights into financial risk and regulation, illustrating how the Bank identifies and manages risks within the financial system. This discussion highlighted the importance of data-driven supervision and the constant vigilance required to maintain financial stability.

Beyond the technical insights, what made the visit particularly memorable was the openness of the economists and analysts who shared their experiences. Their willingness to discuss both the analytical challenges and the practical realities of policymaking made the sessions feel less like formal presentations and more like conversations about the evolving role of economics in society.

The visit concluded with a tour of the Bank of England building, a reminder that while the institution is steeped in history, its work remains firmly focused on the future.

For me personally, the experience reinforced why studying economics is so exciting. Seeing how rigorous analysis, policy judgment, and data come together to guide real-world decisions was both intellectually stimulating and motivating. It reminded me that economics is not only about understanding how economies function, but also about contributing to policies that improve stability and prosperity.

I am grateful to the Bank of England team for sharing their time and expertise, and to the University of Warwick for providing students with the opportunity to engage directly with one of the world’s leading central banks."

Insightful and Rewarding Experience – by Ollie Smallwood (MSc Economics)

"The visit to the Bank of England on the 24th February was a deeply insightful and rewarding experience to have been a part of.  As a current MSc student looking to potentially work in a similar applied macroeconomics related field in my future career, being able to listen to those already working at the Bank about their own career journeys was perhaps the most useful element of the trip for myself. As well as this, having a chance to directly speak with employees about their research, job roles, and individual careers was an eye-opening experience, particularly given the stage at which I am at now.

Overall, the trip was also extremely well organised and thought through. Both the employees at the Bank who participated in delivering talks and everyone who contributed to the administrative side of the visit were extremely kind and welcoming to our questions about the institution. I would highly recommend all economics students at Warwick to make an application to attend in the future."

Bridging the gap between theory and practice - by Analia Bogado Paredes (MSc Economics)

"As a central bank official in my home country, having the opportunity to visit and engage with speakers from the Bank of England was a very enriching experience. Coming from a Latin American context, it was particularly valuable to learn directly from an institution that is regarded as a benchmark in central banking. The visit helped bridge the gap between theory and practice, as many of the topics we study in academic settings were discussed in a more applied context.

I found the discussion of the Bernanke's Review especially interesting, particularly the Bank’s efforts to strengthen transparency and communication with the public. Overall, the visit left me with several ideas and reflections that I hope to share with colleagues at my own central bank."

From Lecture Notes to Policy Reality – by Anton Kisworo, (MSc Economics)

"My experience visiting the Bank of England was one of those experiences that make my coursework more realistic. Sometimes in class, it seems like a world where there are clear assumptions and diagrams in macroeconomics theory. During my visit, I realized how these theories are applied in a real-world scenario where it is not a perfect world, where there is a constant flow of information, and where decisions are made with a certain level of uncertainty.

My favourite experience during my visit to the Bank of England was when I listened to a sharing from the Outlook division, especially when they discussed their approach to building a medium-term macroeconomic forecast. What I found interesting in this experience is how they established a structure in building their forecast. I realized that they discussed the general approach in building a forecast, especially when a central bank tries to establish a baseline forecast, test it against evidence, and refine it as needed. It’s not a technical discussion in the sense that it involves equations, but it’s a very informative experience because I realized how they established a structure in building their forecast. I also found it very interesting how a medium-term forecast is not done in isolation; it should be consistent with what’s happening in the near term, and it should also be influenced by factors in the long term.

It was not only a sharing of content; it also helped me think differently about how I best learn. Hearing from people who do this every day helped me understand why some of these macroeconomics principles are so important because they inform how I think about things, help me read data more effectively, and complement how I communicate when outcomes are not clear-cut. It also gave me a better sense of what “applied macroeconomics” looks like in a policy institution.

If I were to pick one thing, it’s that I think learning in a university could benefit from more engagement with practitioners in this way. Perhaps even a single “guest speaker” session in a course on macroeconomics, with Bank of England staff talking about their work in forecasting, scenario work, or data interpretation in real-time, could help students like me think more solidly about these ideas in relation to real-world policy work.

Overall, I think this visit left me genuinely motivated. It not only reinforced some of the learning I have done so far, but it also gave me a boost in terms of how I think about the way forward."

Learning about the transition from university to the Bank – by Mehak Jain (BSc Economics, Year 3)

"A highlight of our visit to the Bank of England was the discussion of the Bernanke Review and how its recommendations are actively shaping changes to Monetary Policy Committee (MPC) processes. We learned how the MPC is refining its approach to forecast presentation and decision-making structure, placing greater emphasis on scenario analysis and risk management.  

Equally fascinating was hearing directly from analysts about the process of building the central forecast. We discussed the role of DSGE models in structuring macroeconomic narratives, but also the importance of judgement, particularly in identifying early “steers” from incoming data. It was striking how much weight is placed on picking up subtle shifts in labour market indicators and expectations data before they fully materialise in the aggregates. 

The technical exposure was especially valuable. Analysts walked us through how scenario analysis is constructed around the central forecast and where ARIMA models are still useful in short-term forecasting. This blend of structural modelling and time-series techniques highlighted the breadth required to inform MPC decisions. 

What made the experience particularly inspiring was learning about the transition from university to the Bank. Speakers emphasised that while technical skills matter, curiosity and the ability to build a coherent narrative from data are just as critical. The exposure analysts receive early on, including opportunities to brief senior economists and contribute to materials that reach the MPC, was especially impressive. 

Overall, the visit was intellectually rigorous and motivating. Seeing how economic models, data analysis and judgement combine to shape UK monetary policy reinforced my desire to work at the Bank of England in the future." 

International study highlights the costs of allowing the wealthy to opt out of collective solutions to global problems such as climate change

Mon, 23 Mar 2026 09:40:00 GMT

Allowing wealthy countries, communities, or individuals to fund their own solutions to collective action problems such as climate change is inefficient, increases inequality and leaves vulnerable communities unprotected – but the ‘private solution trap’ can be averted with specific policy interventions, according to a new global study published in the Proceedings of the National Academy of Sciences (PNAS) based on an experimental game played by 7,500 students in 34 countries.

The research was conducted by the University of Warwick’s Collective Decision-Making and Culture Lab (CDMCL), an international and interdisciplinary group of researchers, in 34 countries under the leadership of Dr Eugene Malthouse (University of Nottingham), Professor Thomas Hills (University of Warwick and the CAGE Research Centre) and Professor Daniel Sgroi (University of Warwick).

Global collective action problems such as addressing climate change and tackling pandemics require international co-operation if they are to be solved. But in an unequal world, wealthy individuals and nations can opt out of collaborative ‘public’ solutions and fund their own private solutions – such as building flood defences and excessively stockpiling vaccines.

These private solutions form a trap because, according to the study, they can divert resources away from more efficient shared solutions, exacerbate existing inequalities, and leave more vulnerable individuals and communities unprotected.

In order to understand more fully the choices people make between public and private solutions, the researchers created a game in which groups of four students – two “rich” and two “poor” – were given high or low budgets that they could invest in a public solution (benefiting all group members) or a private solution (benefiting only themselves) across ten rounds. Achieving either solution meant they avoided losing their remaining budget.

The study finds:-

Only 15 of the 1,151 groups opted wholly for the public solution; while just 11 opted wholly for private solutions. The majority of groups were split between the two options.
Across all 34 participating countries, the “rich” consistently invested more in private solutions than the “poor”: 62 per cent of rich players adopted the private solution compared to 32 per cent of poor players
Poor players contributed a greater proportion of their funds towards the public solution than their rich counterparts – 40 per cent compared to 31 per cent.
As a result of these patterns of behaviour, wealth inequality had increased in every country by the end of the game.
The odds of poor players losing everything were estimated to be more than five times higher than they were for rich players
Players in countries which value harmony above hierarchy were more likely to invest in the public solution.

Dr Malthouse said:

“Our results highlight the potential consequences of the private solution trap whereby the existence and widespread adoption of private solutions undermine the provision of public solutions, while also increasing wealth inequality and leaving less-wealthy individuals and nations unprotected against collective risks.”

Professor Sgroi said:

“We found two universal pathways which helped groups achieve the collective ‘public’ solution. These applied across almost all countries and cultures.

“The first is early intervention – the larger the sum invested in the public solution in round one, the more likely the group is to adopt the public solution. The second is conditional co-operation – groups in which players reciprocated the contributions of their fellow group members were more likely to adopt the public solution.

“We can see examples of this in the struggle against climate change where it can often feel like richer countries are hanging back and waiting for other nations to take the lead. If a smaller country takes the leap and commits its more limited resources to a collective solution, the developed world often falls in behind.”

“It’s especially interesting that the UK is something of an outlier in our results. Our results show that in the UK if someone starts early by co-operating that makes a big difference to the odds of the whole group adopting the public solution.

“This suggests that policies that try to kick-start cooperative behaviour will be especially effective for the UK compared to some of the other countries - it does seem to really inspire people to change their behaviour.”

Co-author Professor Thomas Hills of the University of Warwick, added:

“Private solutions are a great form of insurance for those who can afford them. But their mere existence destabilises public goods – for example, people hiring private fire trucks for their burning homes in LA made those goods more expensive for everyone and completely out of reach for the poor.

“The data shows clearly this is a problem that exists above culture. Some countries do better than others, but they all fall prey to the private solution trap. Perhaps the key optimistic point is that we can do better, by investing in public solutions more often and more quickly. Then private solutions lose their appeal.”

Notes

E. Malthouse, C. Pilgrim, D. Sgroi, M. Accerenzi, A. Alfonso, R.U. Ashraf, M. Baard, S. Banerjee, A. Belianin, S. Bhattacharjee, M. Bhattacharya, P. Brañas-Garza, J. Cárdenas, M. Carriquiry, S. Choi, G. Clochard, E.E. Denzon, B. Dessoulavy-Sliwinski, G. Dini, L. Dong, A. Ertl, F. Exadaktylos, E. Filiz-Ozbay, S.L. Flecke, F. Galeotti, T. Garcia-Muñoz, N. Hanaki, G. Hollard, D. Horn, L. Huang, D. İriş, H.J. Kiss, J. Koch, J. Kovářík, O.K.B. Kwarteng, A. Lange, M. Leites, T.H. Leung, W. Lim, M. Morren, L. Nockur, C.Y. Okyere, M. Oudah, A.I. Ozkes, L. Page, J. Park, S. Pfattheicher, A. Proestakis, C. Ramos, M. Ramos-Sosa, M.S. Ashraf, M.R. Sanjaya, R. Schwaiger, O. Sene, F. Song, S. Spycher, R. Staněk, N. Tanchingco, A. Tavoni, V. te Velde, M.J. Vázquez-De Francisco, M. Visser, J.T. Wang, W. Wang, W. Weng, K. Werner, A. Wijayanti, R. Winkler, J. Wooders, L. Ying, W. Zhen, & T. Hills, The private solution trap in collective action problems across 34 nations, Proc. Natl. Acad. Sci. U.S.A. 123 (12) e2504632123, https://doi.org/10.1073/pnas.2504632123 (2026).
The study was jointly funded by the University of Warwick’s Global Research Priorities, the European Research Council, the Spanish Ministry of Science and Innovation, and universities in each participating country.
While the primary focus of the study was climate change, the findings apply to any collective problem in which private and public solutions are available – from education, to healthcare, to security.

Warwick Women in Economics to host International Women’s Day Conference 2026

Mon, 02 Mar 2026 11:26:00 GMT

Warwick Women in Economics (WWiE) will host their annual International Women’s Day Conference on Sunday 8 March in the Faculty Arts Building (FAB0.08) from 10:30am to 4pm. This student led event brings together speakers from economics, policy, finance, and entrepreneurship to explore women’s representation and leadership across the profession. The conference is free and open to students and staff from all departments.

Molly Paxton, Co-President of Warwick Women in Economics, has shared further details about the event:

Warwick Women in Economics society is excited to be hosting our annual International Women’s Day Conference on Sunday. We believe it is important to celebrate International Women’s Day, and our conference brings together a diverse range of speakers and attendees to highlight the importance of female representation and leadership.

We are delighted to welcome Ada Osakwe, a Nigerian economist, entrepreneur, and corporate executive, who is the founder and chief executive officer of Agrolay Ventures, an agribusiness investment company based in Nigeria. She is also the founder of the 'Nuli Foods' restaurant chain and was previously the Senior Investment Adviser to Nigeria's Minister of Agriculture and Rural Development. As a Warwick alumna, having studied for a Masters in Economics and Finance at Warwick, Ada will be sharing her incredible career journey, through finance, the civil service, and entrepreneurship.

Following this keynote, we are hosting an 'Alternate Pathways' Panel, exploring the career journeys of a diverse range of panellists, including Sharda Dean, Economist at the Competition and Markets Authority; Elizabeth Villagomez, a policy advisor and consultant for international UN agencies, most recently for UN Women; Jadin Meurer, a behavioural science consultant at Cowry Consulting; and Han Tonnu, a data analyst at Revolut. This is a great experience for our members to explore career paths beyond the traditional routes and learn how to prepare for opportunities in these industries.

We will also be hosting Simonetta Rigo as a keynote speaker. Simonetta holds the position of Chief Client Officer at Rathbones and has more than 30 years of experience across wealth management, investment banking, fintech and board governance, including FTSE 250 advisory boards. This is a unique opportunity to hear directly from a female industry leader who has shaped firms and driven growth, we will be hosting an interactive Q&A following the speech and encourage our audience to get their questions answered.

Our conference concludes with our Women in Economics sponsor panel, hosting representatives from the Warwick Economics department as well as our sponsors. We are delighted to have Dr Lory Barile join us for this panel, who is an Associate Professor of Economics at the University of Warwick and an applied behavioural and experimental economist, as well as representatives from our sponsors Frontier Economics and Charles River Associates. The panel will focus on the experience of women working in the field of economics, the importance of female role-models and how our panellists found their specialty within the field.

We run our conference free of charge, ensuring accessibility and diversity in our society, and welcome students and staff from all departments (not just Economics) to attend and participate in the important discussions we are hosting.

Registration is now open, we look forward to seeing you there!

Warwick Economics Summit 2026 draws global leaders and its largest audience yet

Thu, 26 Feb 2026 14:49:00 GMT

Marking its 25th anniversary, the student led Warwick Economics Summit (WES) returned in February with its most ambitious edition to date, bringing together world-renowned economists, policymakers, and industry leaders for a weekend of debate, insight, and global exchange.

This year’s Summit welcomed a record 550 in person delegates, including 320 attendees from 30 universities worldwide, reflecting its status as one of Europe’s leading student run academic conferences.

A highlight of the programme was a keynote address from Philippe Aghion, recipient of the 2025 Nobel Prize in Economics, who discussed the latest developments in growth theory and the dynamics of creative destruction. His lecture offered delegates a rare opportunity to engage directly with one of the field’s most influential contemporary thinkers.

The Summit also marked the return of its debate panel format, with speakers examining the resurgence of protectionist policies and their consequences for domestic industries. The session prompted lively discussion among delegates and provided a platform for contrasting perspectives on one of today’s most contested economic issues.

Across the weekend, students welcomed an outstanding line-up of international speakers, including:

Dr Kao Kim Hourn (Secretary General of ASEAN),
Jon Slade (CEO of the Financial Times),
Anna Manz (CFO of Nestlé),
Erna Solberg (Former Prime Minister of Norway),
Nathan Sheets (Chief Economist at Citi),
Anacláudia Rossbach (Executive Director of UN Habitat)
Oleksandra Matviichuk (2022 Nobel Peace Prize laureate).

Their contributions spanned geopolitics, financial leadership, sustainability, and human rights, offering delegates a truly interdisciplinary experience.

The Summit also attracted attention beyond campus, with Reuters and Bloomberg providing media coverage of the event.

Elissa Saygin (BSc Economics), one of the WES 2026 Overall Coordinators, alongside Mathew Johnson (BSc Economics) and Adam Tan (PPE), commented on behalf of the whole WES Team:

"It has been an absolute privilege to work alongside such a talented and dedicated team of students to bring the 25th Anniversary edition of WES to life. At its heart, WES has always been about bridging the gap between the leaders of today and the change-makers of tomorrow, and this year we were proud to push that mission further than ever before. From the calibre of our speakers and sponsors to the record number of delegates and media engagement, this milestone edition reflects not only the strength of our vision, but the collective effort of 68 individuals who have worked tirelessly to make it a reality. Leading this team has been both inspiring and deeply rewarding."

The Department congratulates the WES student committee for delivering an outstanding conference that continues to elevate Warwick’s global reputation for student leadership, intellectual ambition, and international engagement.

Relevant Links

Warwick Economics Summit 2026

From first-year curiosity to real-world insight: A conversation with alumnus Pratik Dattani

Wed, 18 Feb 2026 10:49:00 GMT

Twenty years after graduating from Warwick, economics alumnus and entrepreneur Pratik Dattani joined Daniel Whitehouse, a current Year 1 Economics and Management student, for a virtual interview. As Daniel begins to explore what economics really means beyond the lecture theatre, Pratik reflects on how the subject has shaped his career across public policy, consulting and entrepreneurship.

Pratik Dattani (BSc Economics 2006)

Pratik’s background is in economic analysis and leading global market entry strategies, including government liaison and public affairs. He is the Founder of think tank Bridge India. He was additionally, until August 2017, UK Director for the Federation of Indian Chambers of Commerce and Industry (FICCI). He is the co-founder of a charity advisory initiative, working with HNI donors give better. Earlier, he was Chairman for a not-for-profit membership organisation with several thousand members for three years.

Previously he worked in Economic Consulting at FTI Consulting and Deloitte in London and Abu Dhabi. He studied Economics at Warwick University, where he was awarded the Prize for Excellence, and LMU University of Munich. His dissertation won a prize at an international economics conference at Georgetown University. He has published academic research on behavioural economics and social impact, and contributed to various books, particularly on India. He is a regular commentator on public policy and India in the media, having appeared in The Economist, Financial Times, Times of India, BBC and other leading publications over the last year. He occasionally lectures at King’s College London.

Pratik Dattani was interviewed by Daniel Whitehouse, current BSc Economics and Management Year 1 student, on 6 February 2026

Q: As someone still figuring out what economics looks like in practice, I’m curious: how do you explain what you do to people who aren’t economists?

I think that is a good question. I usually go back to year one microeconomics and the idea of scarcity. Economics is about infinite wants and very limited resources, and how you maximise the resources you have to benefit those you’re trying to reach. Along that journey you face difficult choices. Do you care about one part of the public more or another? You are making normative judgments about how to spend limited money and limited time.

Q: You’ve worked in economics, public policy consulting and entrepreneurship. From a student’s perspective these feel like very different worlds. What connects them for you?

The common thread is that all of these areas are multidisciplinary. Whether you are in the public sector, investment banking, or starting your own business, you are constantly combining different skills. As you get more senior, the technical skills matter less; relationships matter more. Someone can always do something faster or cheaper than you. What really matters is how you combine skills across disciplines and apply them well.

Q: I saw you were featured on the front page of the FT last Monday. What was that experience like, and why were you interviewed?

On Monday (2nd Feb) I was on the front page of the Financial Times commenting on President Trump’s announcement of a reduced tariff for India, following an agreement with the India Prime Minister Narendra Modi to stop buying Russian oil. I’ve spent over a decade in international trade, including running the UK office for a large chamber of commerce and being involved in various substantial UK-India cross-border deals. It’s a real privilege to be featured in The Economist, Financial Times and similar publications, because it shows that along the career journey, the economics skills I picked up at Warwick are relevant and valued by large publications.

Q: Where did you grow up, and how has that shaped the way you see the world today?

I was born in a village in India, studied in Munich for a year, worked in Abu Dhabi and now while London is home, we have offices in Uganda and India. These experiences have taught me how the world is seen differently across borders and cultures. Meeting so many nationalities during my time at Warwick was one of the building blocks for this.

Q: Could you explain what EPG does? I’d like to understand the types of problems you work on.

We do two main things. First, we help British companies with market entry into India. That is often deeptech companies, but equally other companies which solve problems at scale. We will help them navigate supply chains and work closely with government to do so. Second, our work is related to strategic communications, which involves helping a client’s target publics (there can be more than one) better engage with their target stakeholders. Colloquially, this is PR, influencer management, public affairs and publishing thought leadership.

Q: How does your economics training show up in your work now? And what other skills have become just as important?

The main benefit is the way of thinking. If you use economics to solve a business problem, you break it down into digestible blocks. You ask what resources you have and how you rank them in importance. Microeconomics, especially ideas about revealed and stated preferences, show up all the time. I find larger companies are more focused on billing. For a smaller team like ours, we really want to go on a journey with the founder. It’s lonely to be a leader, so aside from the technical aspects of what we might do, just supporting them in their growth is sometimes just as important.

Q: You were involved in Warwick Economics Society and helped start Assumptions magazine. What made you want to do that? Do you still stay involved with people from Warwick and do you still read Assumptions?

I was looking for things to get involved in that combined my interest in economics with doing something practical. We started Assumptions in 2007. At the beginning there was no budget. It was printed in black and white and left in the department office. I’m grateful for Aldi being our first sponsor, which meant we could now print in colour.

In 2008 while I was in Munich, I was flatmates with two people who organised the annual Carroll Round, a dissertation competition hosted by Georgetown University’s School of Foreign Service. I was the first student from any university outside the US to be accepted. I flew there to present, thanks to the Economics department, won one of their prizes.

It’s a proud moment to see that two initiatives I started 20 years ago in Warwick still exist today. Building legacy like this goes beyond individuals and secures institutions and relationships across borders which last.

I keep in touch with many of the people I went to Warwick with. When we graduated, most went into investment banking, professional services or did a Masters. Looking back now, many of those same people have changed direction and changed careers several times. When students ask me for career advice, I usually tell them that whatever they think they will be doing in five years is probably not what will actually happen.

Pratik Dattani is Managing Director at EPG and founder of Bridge India, an award-winning progressive non-profit think tank dedicated to discourse on public policy.