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Friday 5th April
Girl Economics Admin
April 05, 2024
Friday 5th April
I really appreciate all of the brilliant feedback that I’ve received about this new format for Girl Economics! There are some very exciting Spotlight interviews with hugely inspiring women coming up over the next couple of weeks.
Once again, if you a student passionate about economics and finance or are/know someone who is working in industry already then do reach out to me on LinkedIn because I would love to interview you!
Have a brilliant Friday!
The Spotlight
Today’s Spotlight is on one of our guest writers, Katie Daly. The deep dive section exploring Norway’s oil-based economy has been written by her, and you can expect more articles delving into geographical economics from her in this newsletter in the future!
 | Katie DalyHi everyone! My name is Katie, and I am a student at Queen’s University Belfast. I study Economics with Spanish, and am currently on my year abroad, studying in Barcelona! I really enjoy economics, and especially its application to current world events. As you can see from the article about Norway under the Deep Dive in today’s newsletter, I particularly enjoy the macro side of economics, with a special enthusiasm for development economics, and how different countries actions have subsequently affected their economies. As well as economics, I have an enthusiasm for languages, having studied Spanish for many years, as well as some German, Japanese and Greek (although not as much as Spanish!!), and continue to try to pick up bits of different languages! I hope this will help me in the future, as I am going to try to use these in my profession, whether that be communicating in these languages with other people, or in the country itself. I am looking forward to both reading and writing some articles for Girl Economics and can’t wait to see how it progresses! |
The Deep-dive
Norway – The Quiet Giant Of The Energy World
When you think of rich oil countries, your mind more than likely goes towards the Middle East, particularly Saudi Arabia and the UAE. However, it might surprise you to know that Norway is also an oil rich state.
In 1963, during what’s now referred to as Norway’s golden era, the country secured Sovereign rights over an area within the North Sea. Fast forward 6 years, and the Norwegians discovered massive oil reserves. This discovery both gifted Norway a spectrum of new jobs, and a new commodity for the country. Yet, Norway did not follow other oil-rich states in their actions, some of which arguably led those countries down the path of greed and corruption, the prime example being Venezuela, and instead followed a more altruistic approach.
Rather than exploiting the oil reserves for quick wealth accumulation, the Norwegians put the profits from the state-owned energy company into a Sovereign wealth fund for future shared generational wealth within the country. Seen, in the 2008 financial crash when many other economies – especially European – Norway was able to remain fairly steady during those uncertain times. The most recent available market value of the fund, found on Norges Bank Investment Management, was equal to 15.765 billion Norwegian Krona, which is equal to 1,522 billion USD. With economic uncertainty prevailing, the fund's role in supporting Norway's economy and its people remains crucial.
5 Daily Articles
Opportunities
Rothschild Private Equity Internship
Long-term internship open to uni students with the Five Arrows private equity division within Rothschild. Held at the London office. |
Freedom Week
A residential program open to those aged 18+ exploring libertarian ideas in economics, politics, and government. Run jointly by the Adam Smith Institute and the iea. |
JP Morgan Analyst Program
An online program run on the Forage platform which gives a taste of what it is like to work at a large organisation like JP Morgan as an analyst. |
Economics is too important to be left to economists
Quiz!
In honour of Easter weekend having just passed, which country has the highest per capita chocolate consumption 🤔
Send your answers on the Girl Economics group on LinkedIn (you can join here is you haven’t already!) and the answer will be posted at 8pm this evening!
That’s all for today! See you tomorrow,
Erin McGurk
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