What Do Economists Do?

Economics is often misunderstood—seen as either overly mathematical, politically biased, or detached from real-world concerns. These misconceptions, fueled by popular media and false analogies to fields like physics, obscure the true nature and potential of economics. 

During their visiting period at the Paris School of Economics (PSE), Nobel laureates Esther Duflo and Abhijit Banerjee will embark on a groundbreaking research project to demystify the field of economics. Their work, titled What Do Economists Do, seeks to explore and explain the role of economists in society, while addressing the criticisms and blind spots that have shaped public perception. 

This project will delve into key global challenges—migration, climate change, trade, unemployment, communities, and redistributive policies—through the lens of economics. By critically examining the ways economists think and the limitations of their frameworks, Duflo and Banerjee aim to construct a more inclusive and practical vision of the economy. Their ultimate goal? To inspire a deeper understanding of economics as a tool for creating humane and effective social policies, and to show why being an economist can be both exciting and impactful. 

Through this research, the AXA Research Fund supports a vital conversation about the future of economics and its role in addressing the pressing issues of our time.