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11
3. Summary.
The article titled “Why Italians don’t make babies” concerns
Italians fertility rate, which is the lowest in the world. Analysing the
reasons of this phenomenon the author points out some facts:
1) Italian women employment, despite social help;
2) childlessness no longer bears a stigma;
3) people don’t want to be responsible for family and children;
4) living with parents young adults tend to behave a bit more
demurely with friends of the other sex.
The author concludes his article with still existing connection be-
tween sex and babies.
12
Doctored
In any list of die great names
in the history of economics, there is
sure to be more than a sprinkling of
Britons – from Adam Smith to Ri-
cardo, Marshall, Keynes and Hicks.
But British economics dons are ask-
ing themselves an uncomfortable
question: where are their successors
coming from? And who is going to
teach them?
The number of Britons taking
master's degrees-generally regarded
as the minimum qualification for pro-
fessional economists – is holding up. But the number going on to doc-
torates is falling. Andrew Oswald, an economics professor at Warwick
University, says that the top ten economics departments in Britain now
average only one new British doctoral student a year.
In 1997 the Economic and Social Research Council (ESRC),
which finances the studies of about a quarter of PhD economics stu-
dents, handed out 33 awards. British students took only 16 – the rest
went to students from the European Union. The British share of appli-
cations for awards also fell below half for the first time, from 58 out of
100 in 1995 to 31 out of 84 in 1997.
In Keynes's day, none of this would have mattered – the great
man had but one degree, in mathematics. But the ESRC is sufficiently
concerned about all this to be planning a study of why the number of
would-be PhDs is falling.
The obvious answers is pay. The starting salary for a university
lecturer, with a doctorate in economics, is, at best, £20 000 ($32 400) a
year. Yet in the City of London, economists with only master's degrees
can expect to start on nearer to £30 000- and comfortably more than
that if they have a few years’ experience in the Bank of England or the
Treasury. Indeed, a PhD usually adds nothing to an economist's earning
power in a City firm, unless it is in a sought-after area such as econo-
metrics (high-powered number-crunching).
3. Summary. Doctored
The article titled “Why Italians don’t make babies” concerns
Italians fertility rate, which is the lowest in the world. Analysing the In any list of die great names
reasons of this phenomenon the author points out some facts: in the history of economics, there is
1) Italian women employment, despite social help; sure to be more than a sprinkling of
2) childlessness no longer bears a stigma; Britons – from Adam Smith to Ri-
3) people don’t want to be responsible for family and children; cardo, Marshall, Keynes and Hicks.
4) living with parents young adults tend to behave a bit more But British economics dons are ask-
demurely with friends of the other sex. ing themselves an uncomfortable
The author concludes his article with still existing connection be- question: where are their successors
tween sex and babies. coming from? And who is going to
teach them?
The number of Britons taking
master's degrees-generally regarded
as the minimum qualification for pro-
fessional economists – is holding up. But the number going on to doc-
torates is falling. Andrew Oswald, an economics professor at Warwick
University, says that the top ten economics departments in Britain now
average only one new British doctoral student a year.
In 1997 the Economic and Social Research Council (ESRC),
which finances the studies of about a quarter of PhD economics stu-
dents, handed out 33 awards. British students took only 16 – the rest
went to students from the European Union. The British share of appli-
cations for awards also fell below half for the first time, from 58 out of
100 in 1995 to 31 out of 84 in 1997.
In Keynes's day, none of this would have mattered – the great
man had but one degree, in mathematics. But the ESRC is sufficiently
concerned about all this to be planning a study of why the number of
would-be PhDs is falling.
The obvious answers is pay. The starting salary for a university
lecturer, with a doctorate in economics, is, at best, £20 000 ($32 400) a
year. Yet in the City of London, economists with only master's degrees
can expect to start on nearer to £30 000- and comfortably more than
that if they have a few years’ experience in the Bank of England or the
Treasury. Indeed, a PhD usually adds nothing to an economist's earning
power in a City firm, unless it is in a sought-after area such as econo-
metrics (high-powered number-crunching).
11 12
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