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

Diversity & inclusion in conversation

Paul Donovan and Dr. Vivenne Ming discuss the impact of diversity and inclusion on the modern workplace.

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.

22 March 2021 Have we finished with cash?

Cash use keeps falling. The pandemic is likely to hasten the decline. Central banks need to think about alternatives to physical cash if they want to keep issuing money.

24 February 2021 What's up with inflation this year?

In 2021, consumer price inflation will be higher, but not high, in developed markets.

14 December 2020 What did trade taxes do?

Looking at all the taxed products for which we have data, China has lost about a quarter of its pre-tax market share. This loss was gradual, spread over several months.

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.

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.