20 NERA Economic Consulting Interview Questions and Answers

When it comes to interviews, preparation is key. And when you’re interviewing with a specific company, it’s important to do your research and be prepared to answer questions about the company itself.

If you’re interviewing with NERA Economic Consulting, you’re in luck. We’ve compiled a list of some common questions that interviewers at NERA like to ask, along with some sample answers to help you prepare.

So whether you’re interviewing for an entry-level position or a management role, read on for some insight into the types of questions you can expect, and how to answer them.

NERA Economic Consulting Interview Process

The interview process at NERA Economic Consulting can vary depending on the position you are applying for. However, most positions will require at least one behavioral interview and one technical interview. The behavioral interviews will focus on your past experiences and why you are interested in working at NERA. The technical interviews will focus on your economic knowledge and research skills. There may also be a written test or case study component to the interview process. Overall, the interview process is relatively long and can take up to two months to complete.

1. Do you have experience conducting research?

This question can help the interviewer determine if you have experience with similar projects to those they may assign you at NERA. If you don’t have direct experience, you can explain how your research skills helped you complete a project in the past.

Example: “I’ve worked on several research projects throughout my career, including one where I analyzed the economic impact of a new highway construction project and another where I researched the effects of tax reform on small businesses. In both cases, I used data analysis software to examine trends and patterns that could inform our recommendations.”

2. Why do you want to work at NERA Economic Consulting?

This question is an opportunity to show your enthusiasm for the role and the company. It’s also a chance to demonstrate that you’ve done some research about NERA Economic Consulting, so be sure to mention something specific about the company or its work.

Example: “NERA Economic Consulting has a reputation as one of the top economic consulting firms in the world, and I’m excited to join such a talented team. I am especially interested in working here because of the firm’s commitment to diversity and inclusion. Your commitment to these values is evident in your hiring practices, employee resource groups and training programs.”

3. What are your thoughts on the current state of the economy?

This question can help the interviewer get a sense of your economic knowledge and how you view current events. It’s important to be honest in your answer, but try not to make it too political or controversial.

Example: “I think that the economy is doing well overall. There are some areas where we could improve, such as increasing wages for middle-class workers and decreasing income inequality. I believe that if we continue to focus on these issues, we will see more sustainable growth.”

4. How are economic forecasts used in business decisions?

This question can help interviewers understand your knowledge of how economic forecasts are used in business decisions. Use examples from your experience to explain the value of economic forecasting and how it helps businesses make important financial decisions.

Example: “Economic forecasts are a valuable resource for businesses because they provide insight into future trends that may impact their operations. For example, I worked with a client who was considering opening a new location. We conducted an economic forecast to determine if there would be enough demand for their products at this location. This helped them decide whether or not to open the new store.”

5. Which area of economics are you most interested in and why?

This question is an opportunity to show your passion for the field of economics. It also allows you to demonstrate your knowledge and understanding of different areas of study within the field.

Example: “I am most interested in economic theory, particularly supply-side economics. I find it fascinating that a single change in policy can have such a large impact on the economy as a whole. For example, when President Trump signed his tax reform bill into law last year, he was able to increase GDP by 0.7% over the next two years. This is because lowering taxes incentivizes businesses to invest more money back into their companies, which leads to increased productivity.”

6. You will be expected to present findings from time to time, how would you prepare for a presentation?

Presentations are a common part of working in consulting. Your answer should show that you understand the importance of presentations and how to prepare for them.

Example: “I would first make sure I have all my materials ready, including any visuals or slides I may need. Then, I would practice my presentation at least twice before presenting it to ensure I am comfortable with the content and delivery. Finally, I would arrive early to the meeting room where the presentation is taking place so I can set up my equipment and get settled.”

7. Give an example of when you had to perform under pressure and meet a deadline.

Interviewers ask this question to learn more about your ability to work under pressure and meet deadlines. They want to know that you can perform well in a fast-paced environment, so it’s important to give an example of a time when you had to complete a project or task quickly.

Example: “At my previous job, I was tasked with creating a financial model for a client who needed the information as soon as possible. The deadline was tight, but I knew I could do it if I worked hard enough. I stayed late every night for two weeks until I completed the project.”

8. What is something that you learned recently about economics or finance?

This question can help the interviewer get a sense of your knowledge and how you learn. It also helps them determine if you are likely to be challenged by the work they do at NERA. Your answer should show that you have an interest in learning about economics or finance, but it should also highlight any specific skills you’ve developed recently.

Example: “I learned recently that there is a new way to measure inflation called chained CPI. This method takes into account that when prices for certain goods increase, people will substitute those goods with cheaper alternatives. Using this method allows economists to more accurately predict future inflation rates.”

9. If we were to ask your previous manager what your greatest strength was, what would they say?

This question is a great way to learn more about the candidate’s personality and how they interact with others. It also allows you to see what their previous manager thought of them, which can be an important factor in deciding whether or not to hire someone.

Example: “My previous manager would say that my greatest strength is my ability to remain calm under pressure. I have worked on many projects where we were given tight deadlines and strict budgets, but I always managed to meet expectations while maintaining high-quality work.”

10. What type of analysis skills do you possess?

NERA Economic Consulting is looking for candidates who have strong analytical skills. This question helps the interviewer determine if you possess the necessary skills to succeed in this role. Use your answer to highlight some of your most important analytical skills and how they benefit your work.

Example: “I am highly organized, which allows me to complete my projects on time. I also use data analysis software to help me collect relevant information from various sources. My ability to analyze complex data has helped me discover new insights that have led to more effective solutions for clients.”

11. Are you able to handle large amounts of data and interpret it effectively?

NERA Economic Consulting requires its employees to be able to handle large amounts of data and interpret it effectively. This question allows the interviewer to assess your ability to do so, as well as how you would approach this task.

Example: “I have worked with large datasets before, although I prefer working with smaller sets that are more manageable. However, I am confident in my ability to work with larger datasets if needed. In fact, I find that breaking down a large dataset into smaller chunks makes it easier for me to analyze and understand the information.”

12. What is the difference between macroeconomics and microeconomics?

This question is a basic test of your understanding of economics. It also tests your ability to apply what you know about the field to real-world situations. In your answer, define macroeconomics and microeconomics and explain how they differ from each other.

Example: “Microeconomics focuses on individual markets or industries. For example, it might study how consumers make purchasing decisions in one industry. Macroeconomics looks at the economy as a whole. It studies things like inflation rates, unemployment levels and gross domestic product.”

13. Describe a time where you were given a task with limited information. How did you approach the situation?

This question can help the interviewer understand how you approach challenges and use your critical thinking skills to solve problems. Use examples from previous work or school experiences where you had to research information, analyze data or make decisions with limited resources.

Example: “In my last role as a financial analyst for a large corporation, I was tasked with creating a budget for the company’s marketing department. The only information I had to go off of was what the department head told me about their current spending habits. I used this information along with industry benchmarks to create a realistic budget that would allow the department to meet its goals while staying within the company’s overall budget.”

14. Can you give me an example of a time when you disagreed with a team members conclusion, how did you handle it?

This question can help the interviewer understand how you handle conflict and disagreements in the workplace. It can also show them that you are able to think critically about your work and challenge others’ conclusions or ideas.

Example: “In my last position, I disagreed with a team member’s conclusion on a project we were working on for a client. The team member had calculated the cost of a new product launch for a company at $1 million, but I felt there was a way to reduce those costs by 20%. After discussing it with the team member, they agreed to recalculate their numbers based on my suggestions. They ended up reducing the cost by 15%, saving the company $150,000.”

15. Tell us about your educational background.

Employers ask this question to learn more about your background and how it relates to the job. They want to know if you have any experience working with clients like theirs, or if you’re familiar with their company’s industry.

Example: “I graduated from Boston University with a bachelor’s degree in economics. I chose that major because I was interested in learning more about business and finance, but I also wanted to study something that would be applicable to my future career. My studies helped me understand how businesses work and what factors influence them. This knowledge has been helpful when applying for jobs at consulting firms.”

16. What interests you about working with clients?

This question can help the interviewer get a sense of your personality and how you might fit in with their team. When answering, it can be helpful to mention something specific about one of NERA’s clients that inspires you or makes you excited to work for this company.

Example: “I’m passionate about working with clients because I love helping them find solutions to complex problems. In my last role, I worked with a client who was having trouble finding qualified employees for their factory. We were able to come up with a solution where they could hire more part-time workers to fill positions until they found someone full time.”

17. What would you say is your biggest weakness as an analyst?

This question is a common one in interviews, and it’s important to be honest. Interviewers want to know that you’re aware of your weaknesses and are actively working on them. When answering this question, try to think of something that you’ve been trying to improve or work on recently.

Example: “I would say my biggest weakness as an analyst is not being able to see the big picture when I’m focused on a project. Sometimes I get so caught up in the details that I forget why I’m doing what I’m doing. To combat this, I’ve started taking short breaks throughout the day to reflect on the bigger picture.”

18. On a scale of 1-10 how important is math to you?

This question is a way for the interviewer to assess your math skills and how you feel about them. If you have strong math skills, this can be an opportunity to show off your abilities. If you are not as confident in your math skills, it’s important to highlight other strengths that may make up for any weaknesses.

Example: “Math is very important to me because I am able to use my math skills every day at work. In fact, I find that math helps me solve problems more quickly than if I were just using logic alone. I would rate my math skills at a 9 out of 10.”

19. What is one thing that you think needs to change in the field of economics?

This question is an opportunity to show your passion for economics and how you can make a difference. Your answer should include something that you would like to change about the field of economics, as well as what you think could be done to improve it.

Example: “One thing I think needs to change in the field of economics is the way we measure GDP. The current method of measuring GDP does not take into account many important factors, such as environmental sustainability or social equality. I believe that if we were able to develop a more accurate measurement of GDP, we would be better equipped to create policies that promote sustainable growth.”

20. What are some things that motivate you to go above and beyond in your job?

This question can help the interviewer get to know you as a person and how your personality might fit in with their company. It’s important to be honest, but also highlight some of your best qualities that will make you an asset to the organization.

Example: “I’m motivated by helping others succeed. I love being able to use my skills to find solutions for clients who are facing challenges or need advice on how to improve their business. I’ve always been someone who likes to solve problems, so this job is a great fit for me.”