Economics without jargon

Economics is something everyone can and should understand.

Meet our GWM Chief Economist, Paul Donovan

I am the Chief Economist of UBS Global Wealth Management. I believe passionately that economics is something everyone can and should understand. We all make economic decisions all of the time. The problem is that economists tend to wrap economics in jargon and equations. We do not need to do that. It is my job to help people realise what they probably already know – by developing and explaining the UBS economic view in a clear way. To do this, I publish research (most of which you can find here) and appear in various print and broadcast media.

I tend to think of myself as a political economist, not a mathematical economist. I get very excited about lots of things in economics. Diversity, inflation, education, trade, inequality, and social change are some of the topics I am very enthusiastic about.

I joined UBS back in 1992 as an intern economist working in our investment bank. Decades later, I am still working as an economist at UBS. That probably says something about me, being an economist, working for UBS, or all three. As Chief Economist I sit on the Global Investment Committee. I am a UBS Opinion Leader and a UBS Pride Ally. I am also part of the UBS Nobel Perspectives program, and a supporter of the UBS Women in Economics program.

I have an MA in Philosophy, Politics and Economics from Oxford University and an MSc in Financial Economics from the University of London. I am also an Honorary Fellow of St Anne’s College, Oxford and sit on their investment committee and development board. As for my hobbies, I am an amateur light-heavyweight boxer (prepared to defend my forecasts in the ring) and a keen if very definitely amateur skier.

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Video library

Investing in equality: A collection of LGBTQ+ research

Explore the breadth and depth of LGBTQ+ research from CIO


Discover the Chief Economist's comment

Occasional articles answering some of the important economic questions of today.

01 September 2020 Is business booming?

Financial markets often underestimate human resilience. People adapt in a crisis. One example is the fact that business creation is booming in many countries as lockdowns end.

16 June 2020 Where is inflation going?

Economic growth is expected to be very strong in the third quarter. This may change some relative prices, but it is unlikely to cause general inflation.

28 May 2020 Will spending surge?

Consumers have experienced spending falling faster than incomes during lockdowns. This has led to a period of enforced saving.

07 May 2020 Can debt be inflated away?

Inflation is a complex topic. Entire books can be written about it. One of the myths that exist about inflation is that governments can easily inflate away their debt levels.

30 March 2020 Does anyone know what is happening?

We know the global economy will be bad. We will not know, with much accuracy, just how bad.

23 March 2020 Can GDP be saved?

The economic damage of the coronavirus is caused by fear. Consumers are fearful, and stop spending money. Policy makers are fearful and change policy.

Interested in more insights?

UBS Nobel Perspectives: Answering questions that will shape tomorrow

Groundbreaking insights from Economic laureates.

Women in Economics 

Women in Economics is an expansion of our ongoing Nobel Perspectives program, with the aim to focus on economists who are in the middle of their careers, but have already made a major impact in their fields.