Last friday I attended a Young Economist function "The Drink Exchange", Guests were provided with Young Economist money and this money could be used to purchase drinks. Throughout the night the price of the drinks changed and peoples preference in drinks was shown to be highly elastic. Later in the night the prices elasticity decreased as people knew their that there Fiat currency would be worthless and used up the last of their YE money while they could.
What was more interesting is the information on graduate programs that was provided throughout the evening. A representative of Suncorp gave a talk explaining their recruitment process. Last year they had 3000 applications, in the first round 50% were culled, this was followed by psychometric tests which 30% then progressed to telephone interviews, this was followed by group assessments and finally individual offers. This was an interesting insight into how competitive the graduate recruitment process is for a major process. Another factor was they required a GPA of 5 to be considered.
I'm currently going through the process of applying for a graduate position with QR national, having just completing both a numerical and logical reasoning test I highly recommend practising for these tests. Brushing up on knowledge of percentages and ratios is highly recommended. While this should be bread and butter for econ students, these tests are done on a tight time constraint. The one I did was 18 questions in 25 minutes so this is a little more than a minute for each questions. I recommend this book which is available on the kindle for $10. Perfect Numerical and Logical Tests
Another bit of information I learned was most people I spoke to applied for 20-30 graduate positions before finally landing one. Basically it's hard work landing a position with a big company or Government department.Perfect logical and numerical tests
What was more interesting is the information on graduate programs that was provided throughout the evening. A representative of Suncorp gave a talk explaining their recruitment process. Last year they had 3000 applications, in the first round 50% were culled, this was followed by psychometric tests which 30% then progressed to telephone interviews, this was followed by group assessments and finally individual offers. This was an interesting insight into how competitive the graduate recruitment process is for a major process. Another factor was they required a GPA of 5 to be considered.
I'm currently going through the process of applying for a graduate position with QR national, having just completing both a numerical and logical reasoning test I highly recommend practising for these tests. Brushing up on knowledge of percentages and ratios is highly recommended. While this should be bread and butter for econ students, these tests are done on a tight time constraint. The one I did was 18 questions in 25 minutes so this is a little more than a minute for each questions. I recommend this book which is available on the kindle for $10. Perfect Numerical and Logical Tests
Another bit of information I learned was most people I spoke to applied for 20-30 graduate positions before finally landing one. Basically it's hard work landing a position with a big company or Government department.Perfect logical and numerical tests
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