How to Prepare for Economic Consulting Case Interviews?

Based on the most helpful WSO content, here are some tailored tips for preparing for economic consulting case interviews, especially those focusing on economic and financial analysis within litigation:

Key Preparation Strategies:

1. Understand the Firm's Focus:

   • Economic consulting firms often specialize in areas like antitrust, securities, intellectual property, and damages analysis. Familiarize yourself with these topics and understand the basic economic principles behind them.

2. Review Relevant Case Books:

   • Utilize case books that focus on economic and financial analysis. These can often be found through MBA programs or business schools. Search for PDFs online by typing the name of the business school followed by "Case Book."

3. Practice with Quality Cases:

   • Engage in quality case practice with individuals who have experience in economic consulting or litigation. This could include second-year students with offers, sponsored students, career services, or consultants. Quality practice is more beneficial than quantity.

4. Focus on Quantitative Analysis:

   • Economic consulting cases often require strong quantitative skills. Practice cases that emphasize quantitative analysis, structuring, and generating solid insights.

5. Simulate Real Interview Conditions:

   • Practice cases in a suit and simulate stress conditions, such as dealing with distractions or uncooperative interviewers. This helps prepare for the high-pressure environment of actual interviews.

6. Understand Local Economy Cases:

   • If interviewing with a specific office, research the local economy and typical industries they serve. For example, if interviewing in Detroit, be prepared for cases related to auto parts manufacturers.

Differences from Traditional MBB/Big 4 Case Interviews:

• Economic Focus: Economic consulting cases will have a stronger emphasis on economic theories and quantitative analysis compared to the broader business strategy focus of MBB/Big 4.
• Litigation Context: Be prepared to analyze cases within the context of litigation, which may involve understanding legal principles and how economic analysis applies to legal disputes.
• Specialized Knowledge: Firms may expect you to have knowledge of specific economic sectors or regulatory environments relevant to their practice areas.

Additional Tips:

• Start Early: Begin your case prep early to avoid last-minute cramming. The level of performance required is very high.
• Diverse Practice: Practice with people you don't know well to simulate real interview conditions and get the adrenaline going.
• Address Weaknesses: Specifically target your weaknesses, whether in quantitative analysis, structuring, or other areas.

By following these strategies, you can better prepare for the unique challenges of economic consulting case interviews and increase your chances of success. Good luck!

Sources: Case study interview for MBB consulting - 24 of my best tips on how to get in, Q&A: Former MBB Consultant, Case study interview for MBB consulting - 24 of my best tips on how to get in, NE M7 to MBB: What I wish I knew, observations, and ask me anything, Q&A: Former MBB Consultant