What are the Oxbridge Economics interview questions that usually come up in interviews?
This diagram shows the most common types of economics interview questions for a selection of Cambridge Economics interviews.
In this post I break down these types in more detail.
For each type of question I will describe the question type. Also I will offer an example short interview style question for each type.
For a booklet with 50 practice Oxbridge Economics interview questions, check out the link below:
Type 1 – Maths in Economics
This type of question requires applying mathematics from A-level (or equivalent). But the maths is applied into an unusual economics setting. This is one of the toughest types of Oxbridge Economics interview questions as it relies on these unfamiliar settings.
There are several different possible settings within economics that use maths.
Think about any graph you draw in economics or any time you use the word “marginal” or “elasticity”. So these are a few examples where maths can appear.
Here is an example short question on mathematics in economics (you can expect this question to be extended in an interview):
Suppose a firm makes profit according to the following function:
\(\pi=pq-q^{\frac{3}{2}}\)
where \(\pi\) denotes profit, \(p\) the constant price and \(q\) the quantity of the good produced.
Assume the firm is a price taker.
Calculate the quantity, as a function of \(p\), that maximises the firm’s profits.
Next, prove this is a maximum.
Finally, tell me about the behaviour of this function you have found.
Type 2 – Pure Maths
This could use any mathematics you have learnt in school.
Usually this means A-level mathematics or equivalent but could also mean further mathematics sometimes.
Note the most frequent mathematical topics are graph sketching, calculus and probability, though other topics do appear.
Here is an example question:
Sketch the following graph in (x,y) space, where \(c\) is a strictly positive constant:
\(y=(2-cx^3)^2\)
Consider what happens to the graph as \(c\) increases.
Type 3 – Economic Theory
This could involve using A-level or equivalent economic theory to answer a question. Alternatively you could have to learn and apply concepts from undergraduate economics (which you would not be expected to know in advance).
This could be any topic e.g. microeconomics (supply and demand, game theory, behavioural economics and more…) , macroeconomics, econometrics and more. It could also involve a current affairs angle.
Here is an example question:
Since 1970, the ratio of CEO pay to “average” pay has risen from 50:1 to 300:1.
Why did this happen?
Is this good or bad? How should we decide? Is there anything we could compare CEO pay to?
Do you think the government should intervene in CEO pay? If so, how? If not, why not? Then argue against the position you just stated?
Type 4 – Use of a Prompt
This could involve a piece of data, a graph or an article or book chapter to read. Sometimes you are allowed to read this prompt in the interview while other times you are given the prompt during the interview.
Here is an example prompt question.
Read the following article linked here. Allow yourself ten to fifteen minutes to read this.
What problems might we face in trying to estimate the size of the multiplier effect?
How does the article mentioned solve this problem?
Why does the multiplier matter?
Type 5 – General Questions and Logic
By general questions I mean general motivation questions. Why do you want to study economics? What specifically do you find interesting about economics? Do you have a favourite economics book that is not on your personal statement? And more.
Logic puzzles can overlap with game theory or mathematics questions. But they can be their own question type too.
Type 6 – Personal Statement
Questions here relate to topics listed on your personal statement.
Make sure to have read through your statement beforehand, in case your college is one of the colleges asking personal statement questions.
For example if you have written about economic growth in your personal statement, you could imagine questions on this theme. E.g. “why do some countries grow faster than others?”, or “(why) is growth important?”
Alternatively if you have written something particularly intriguing or something that did not make sense to the reader in your statement, you could receive a question on this. For example “Explain what you meant by … in your personal statement?”
Other Resources
To purchase 50 Oxbridge Economics interview style questions, check out the blue button below:
The questions are suitable for students, parents or for teachers to ask students.
To see a free sample of Economics interview style questions and answers, see the link below
If you would like tips on how to prepare for Economics interviews by question type, click the link below:
For more personal statement and interview resources, click the link below:
For more A-level Economics resources, click the link below:
Caveats
The data shown may not be representative of a typical or average interview.
On the question types, other question types may exist beyond those already mentioned. Alternatively the question types may overlap.
Not every question type is guaranteed to come up. A lot of colleges will focus on only a few types of question or even one type of question.
Based on pure Economics interviews. Where you are applying for mixed discipline courses there may naturally be questions on the other disciplines.
The questions presented above may not reflect your actual interview. You are likely to get different questions in your actual interview and questions are likely to be more back and forth. For example if you discuss a particular idea you may be asked to elaborate further on that idea.
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