Nuria Pesquera paints a picture of 21st-century economics

@IE University

Nuria Pesquera, Director of Behavioral Economics at BBVA, shares her thoughts on the economics of the twenty-first century and the skills you need to stay ahead in the industry.

Economics is a fast-paced field of study that constantly evolves alongside advances in technology and the behavioral sciences. The economists of tomorrow must be able to understand how economic motivations and social concerns interact with new transformative technologies in order to master the modern world’s progressively complex economy.

As part of IE University’s new Bachelor in Economics, students will learn about human behavior, economic environments, and global markets, enabling them to grasp the new reality of economics and how it affects the diverse world we live in. Our future-forward, innovative, and career-focused program equips students with the skills they need to drive economic transformation, business efficiency, and digital growth in a tech-driven era.

The Bachelor in Economics is a stimulating program that sets out to apply the fundamental principles that underpin economics into the context of our currently evolving digital and tech era.

This program takes learning one step further than simply teaching traditional economics; our professors apply their knowledge of the current landscape of economics to the classrooms so that students are able to learn the key implications of technology within this sector. Largely left out of similar programs, the Bachelor in Economics includes the implications of automation, e-platforms, and the circular and sharing economy. Students also build upon their knowledge of the internet of things, artificial intelligence, machine learning, analytics, and big data—namely focusing on how these affect decision making and policies within a local and global environment.

Furthermore, at IE University, we understand the importance of understanding the economy from a global perspective as a means of understanding the impact it may have on international relations, governments, and organizations. As such, our professors ensure you are able to drive economic transformation, growth, and efficiency on a global scale.

To mark the launch of our new program on October 3, IE University invited industry experts to share their views on the impact of modern economics on the world we live in.

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Nuria Pesquera shares her thoughts on the economics of the twenty-first century and the skills you need to stay ahead in the industry. As Global Head of Behavioral Economics at BBVA, Nuria is in charge of designing and implementing behavioral economics strategy, using science to drive innovation.

“I think that the economic model has changed a lot during the last few years.

When we try to identify some initiatives or projects that behavioral economists can use, we try to use some rules related to the economy as well as some rules related to psychology. The idea is to have the best combination, because not all of us are rational. It means that our rationality is limited, and so we try to use some mechanism to modify our behavior.

Economics is ahead in a lot of areas. Now, for example, behavioral economics inside the bank is very important, because it really is a way to try to help our customers make decisions. It means that you have to understand the economy and the behavior of our customers very well, and try to identify some interventions to help them reach their goals.

Speaking about skills—obviously, these are related to the degree that you have—but I think the most important skills that you need to have with business are those related to soft skills: managerial, leadership, or entrepreneurial skills.”

Nuria Pesquera

Despite traditional economics’ disregard for the role of psychology, contemporary research shows that human behavior is constantly reshaping economic principles, making behavioral economics increasingly relevant to the future of our economy.