Podcast Summary:

LSE Public Lectures and Events — "Women in Economics: Progress, Challenges and Perspectives"
Date: December 8, 2025
Host: London School of Economics and Political Science
Panelists: Claire (Deputy Governor, Bank of England), Janet (Chief Economist at HSBC), Almudena (LSE/CEP), plus Chair and Audience

Episode Overview

This episode centers on the state of women in economics: their representation, the challenges and dynamics affecting their careers, and ongoing efforts to change the landscape. Using statistics, lived experiences, and current research, the panel explores why diversity—especially gender diversity—is essential for the profession, how barriers persist at each stage, and what practical and cultural changes are needed for greater equality and impact.

Key Discussion Points & Insights

1. Current State of Women in Economics

• Leaky Pipeline:
  • At entry into academia: 36.5% are women lecturers.
  • Drops to 26.3% at senior lecturer/reader level.
  • Only 18% at professorial level.
  • "Economics does indeed need women and diversity more generally." (B, 00:52)
• Comparison with Other Fields:
  • Economics' gender imbalance resembles that of maths and physical sciences, not other social sciences.
  • Even outside academia (government, central banks), representation is better but far from parity.
• Trends Are Stagnant:
  • Numbers have been largely unchanged over the last decade, both in undergraduate and senior academic representation.
  • "Different reports are showing very, very stable numbers over time. So things are not necessarily moving." (B, 07:49)
• International Comparison:
  • Leaky pipeline is a global issue, not UK-specific.

2. Why Does Economics Need Women?

• Economic Efficiency:
  • "Economics is all about the efficient use of resources and talent. Talent is scarce in the economy. So as economists, we should be attracting the brightest and the best." (B, 04:45)
• Better Policymaking:
  • Diversity leads to better growth and more representative, effective policy.
• Professions Should Mirror the Society They Serve:
  • A less diverse profession is less equipped to address broad societal needs.

3. Barriers along the Pipeline

• Education Access:
  • Not all schools offer Economics at A level; those that do are disproportionately private or boys' schools.
  • "It's a massive problem in the UK that A level economics is not fairly distributed across, you know, school types, for sure." (C, 22:46)
  • Undergrad level: ~33% women; Master’s is higher due to international students, but PhD reverts to ~40%.
• Culture and Expectations:
  • Competitive, hierarchical publication culture in academia disadvantages women.
  • Interruptions and lack of respect in seminars—a study found junior women are interrupted much more often than men, especially by senior men.
  • "Women, in particular more junior women, were being interrupted systematically, much more than men in the first five minutes of their presentation..." (B, 11:49)
• Toxicity and Belonging:
  • Only 25% of women surveyed in the American Economic Association felt valued in the profession (vs. 47% of men).
  • "There are certain groups that do not feel like they belong." (B, 15:14)
• Work–life Balance and Career Progression:
  • Maternity and family leave impacts women's career trajectories across workplaces, especially at crucial promotion stages.
  • "There's definitely this thing about women have children, right? And that means they take time out of their career at quite an important point." (C, 33:13)

4. Representation and Field Segregation

• Field Clustering:
  • More women in labor, family, applied economics; fewer in macro or trade, though this is changing, especially in the public sector.
  • "Once you've got one or two women who are seen to do well... it then attracts others." (A, 26:19)
• Role of Networks and Role Models:
  • Critical for career development and encouraging more women to enter and remain in the field.

5. What’s (Not) Working? Interventions and Policy

• Policy Examples:
  • The ECB’s mentoring and promotion policy dropped the male-female promotion gap by 30 percentage points.
• Initiatives:
  • Discover Economics campaign; mentoring programs; targeted efforts at institutions to expand teacher supply and support.
  • "I think changing the culture and getting more women is part of changing that culture. ...networks, you need mentoring, you need all these things" (B, 24:10)
• Quotas and Shortlists:
  • Debate on women-only shortlists: most panelists favored focus on equal opportunity over quotas.
  • "I think you have to think really, really hard about things like interview panels, things like the information you give to candidates, things like how much support you give to people..." (C, 66:13)
• Institutional Responsibility:
  • LSE and other leading bodies should lead by example, not just in numbers but in changing cultures for inclusion.

Memorable Quotes

• On Representation:
  “Economics as a social science is a little bit of an outlier in the social science spectrum. It behaves more like mathematics and physics...” (B, 02:32)
• On Progress:
  "The numbers of women studying economics is still really, really low and actually worse than STEM subjects. It’s not improving." (C, 32:36)
• On Experience:
  "Even now, I find myself in a room and it’s a load of men and it’s, you know, and quite often you don’t sort of even notice it anymore because it’s so common." (C, 54:41)
• On Practical Advice:
  “Do what interests you... people are good at the things they are interested in...just go for it.” (C, 36:28)
• On Policy:
  “What the AEA has done, the American Economic Association, is an important signal to other harassers in the profession... it's setting the values of the profession very clearly.” (B, 80:05)
• On the Future:
  “When economics is tested by future challenges, I hope that at present profession will be able to say that we all have done what we could to attract the best people and the best ideas.” (B, quoting Janet, 16:04)

Advice & Strategies

To Women Entering Male-Dominated Spaces

• Prepare points in advance, focus on value, not volume—“People notice the value-adding comments. They don’t notice the other stuff...”(C, 54:41)
• Find allies in meetings to amplify your voice.
• “Practice” is key—confidence grows with experience. (A, 57:29)
• Recognize some dynamics are structural, not personal—don't internalize dismissive behaviors. (B, 59:23)
• Delegate, mentor, and empower others early to build networks and collective action. (B, 40:38, 41:14)

Regarding Changing Career Paths

• Route into economics possible at postgrad (Master’s/PhD) even from non-economics backgrounds. (B, 75:24)
• No one “set route”—persistence, curiosity, and further study can bridge gaps. (A, 74:31)

Audience Q&A Highlights (Selected)

On Speaking Up as a Young Woman (E, 50:30)

• Focus on preparation and substance, not pressure to talk for talking’s sake.
• Seek feedback, build supportive relationships as “allies.”
• Be aware that structural biases (interruptions, dismissals) exist—don’t blame yourself.

On Economics’ Relevance to Real-World/Grassroots Issues (E, 51:54)

• Economics needs to broaden its frameworks, integrate real-world evidence, and compliment with other disciplines like anthropology.
• Classical theory alone often fails to address cultural and gendered realities at the grassroots.

On Institutional Change

• Changing systems requires both internal commitment (mentoring, pro-diversity policies) and external pressure (e.g., public accountability for gender balance).
• Panel divided on quotas; universal agreement on needing level playing fields and strong pipelines.

Notable Moments (with Timestamps)

• Leaky Pipeline Illustrated: (00:52–02:00)
• Discussion of Toxic Culture and Interruptions: (11:33–11:49)
• ECB Promotion Gap Policy Case Study: (12:49–14:03)
• Climate Surveys—Belonging and Value: (14:39–15:14)
• Power of Role Models and Demonstration Effect: (26:19, 37:31–38:23)
• Strong closing quote on attracting best ideas: (16:04)
• Practical advice for meetings and allies: (54:41–61:08)

Closing Remarks

Despite incremental progress—some fields and organizations now see more women in senior economics roles—the field as a whole moves slowly. The way forward is multifaceted: improving access to education, proactively changing professional cultures, fostering inclusive research and policy agendas, and supporting networks and role models at every stage. The urgent message: “Economics needs women—not just for equity, but for the advancement, insight, and breadth it brings to the discipline and society.”

For Further Learning and Involvement:

• Panelists encourage listeners, especially undergraduates and early-career women, to join networks (e.g., Women in Economics at LSE/CEP, Discover Economics), attend events, and build both male and female mentoring relationships.
• Book recommendation for aspiring economists: Why Can't We Just Print More Money? (Bank of England), podcasts, and following economic news/documentaries.

[End of Summary]