It is a true pleasure to be back here at the Paris School of Economics (PSE). You are now on the home stretch. I well remember how I felt during my own final year: excited, anxious and curious all at once. Over the next few months, you will need to take serious, life-changing decisions. The data suggest there is about a two-in-three chance that you will pursue further studies. For many, a master’s degree is a natural step towards a PhD. And a PhD is essentially a promise of employment. In the United States, for example, the unemployment rate for PhD economists is about 0.8%, the lowest among all sciences.[1] Not a ... (full story)