An Interview with Phoebe Ng

What role has economics played in your life so far?

I am currently a final year Economics student at the University of Essex having done a placement year with Samsung last year. The role that economics has played in my life is that I have been able to use economics in so many different areas from my career to reading the news. It is such a broad subject and when studying it you start to identify where economic ideas as simple as supply and demand can be applied in the world around you. In my dissertation I wrote about how hype influences consumer behaviour and the impacts that has on markets and competition. You might think that the study of ‘hype’ would have nothing to do with an economist but it is actually such an important area of behavioural economics!

Tell us more about your placement year with Samsung!

At Samsung I was a Smartphone Product Manager Associate which gave me experience in launching new products and coordinating lots of team. My day to day involved lots of market analysis and forecasting what sales might be in the next quarter. That meant I was doing lots of work with data and using excel which is pretty common in economic fields.

At the moment I am a brand ambassador for Samsung, sharing my experiences with others who might be interested in working with the company in the future. I was so thankful for the opportunity I had to work at Samsung and I really did want to give back and help others!

Would you recommend taking a placement year and how has it helped you?

I went into Product Management and I didn’t exactly know what it was! After doing the placement, I realised that Product Management is something that I would actually love to do as a career because I enjoy the combination of creativity and data analysis. Taking a year out is so important because I think it really helps you define where you want to go in the future, and also where you perhaps might not want to go!

Could you condense the ideas of your dissertation for us?

I looked at behavioural economics in marketing and how our lack of rationality allows for marketing to work. I was particularly focused on looking at the idea of ‘hype’ and how it is able to distort markets.

The main reason why I wanted to choose ‘hype-onomics’ was because I am so interested in behavioural economics and the way that people defy all laws of logic when it comes to how they behave. In economics we like to assume that people are rational and behave predictably. But we are not rational - just think about how social media influences us to change our behaviour!

Tell us about your decision to study a masters

I am going to be doing a very niche masters course - the Psychology of Economic Life - which sits under the umbrella of behavioural science. It is at the intersection of economics and psychology and the main reason why I wanted to go into it was because I wanted to have the opportunity to build on my dissertation further.

The thing that really made this course click for me as a perfect fit for my masters was reading the overview on the course page where it said: “we are discussing how people are beyond traditional economics”.

You have a very refined LinkedIn page! How did you come to hone your skills in personal branding?

Honestly it is lots of trail and error. I follow a lot of ‘LinkedInfluencers’ but I do keep in mind that I’m not trying to sell a product, I am trying to sell myself! Someone who has been following me for a while would know that I have rebranded myself quite a few times but now I feel as though I have settled on a personal brand that really represents me and that really speaks to others as well. It can be hard to get over the cringe barrier of posting but once you do that, you can build your brand with much greater conviction.

Are there any particular things you have done that are highlights for you?

One thing that I have done which I think is particularly impressive is that I hosted a Townhall at Samsung. I hosted a panel in front of most of the UK business and showed them the ideas that I have for Samsung moving forwards. I proactively asked to be given this opportunity and that is the biggest piece of advice that I have for people reading this: don’t just wait for opportunities to fall into your lap, you need to chase them!

Another thing that really stood out for me was when I had the opportunity to present my dissertation at the annual student conference. I was invited to present by my supervisor in front of the social science department. I was very excited to share more about my research and hopefully I will be able to get it published in a big journal at some point!

Where do you see yourself in the future?

I have done many different things in quite a lot of different sectors. I have worked at my university in numerous different roles supporting students; I have taken on placements in technology; I am going to be working as a Marketing intern at an EdTech startup! There is no set sector that I want to go into so I’m trying to dip my toes into lots of different areas rather than concentrating on a single career.

I love taking on people-oriented roles because I really enjoy presenting and connecting with people. It also gives you the opportunity to share your perspectives and learn from the knowledge that others have gained through their experiences.

Tell us more about you outside of academics

Outside work I am a very creative person and I love to go bookstore hopping or cafe hunting! I am slightly obsessed with croffle so I will seek out as my croissant variations as I can!

Tell us about your inspirations!

I don’t think there is one particular person who inspires me but there are lots of different people. My partner is doing a PhD and is one of my biggest inspirations within my personal life. In economics I think the work that the late Daniel Kahneman has done in behavioural science and prospect theory is also incredibly inspiring.

News

Short Read of the Day

You’ll be familiar with the economic significance of crude oil, but how about olive oil? The production of olive oil is under threat due to climate change and other external factors. Might we see the emergence of an Olive Oil Cartel to rival Canada’s Maple Syrup Cartel?

Long Read of the Day

Hands up who has bought from Shein, Temu, Romwe, or any other ‘übermarketplace’! Western consumers are being increasingly draw in by the low prices, flashy sales, and gamification of the shopping experience employed by companies like Shein. This Guardian Long Read takes a deeper look at the economic and psychological factors influencing the rise of these companies.

Video of the Day

Most of you will probably have used ChatGPT over the past week. The impacts that AI technology will have on economic growth are hotly debated, and this TED talk takes a look at the arguments in favour of increasing AI usage to boost productivity.

Thanks for reading! See you in the next issue - Erin McGurk