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Department of Economics

Table of Contents

Page 1: Getting started instructions

Page 2: Major & Degree requirements

Page 5: FAQ - Major & Degree requirements

Page 10: Additional registration info

Page 14: Graduation Planning

Page 16: Preparing for Career in Economics Info

Getting started instructions

Please follow the appropriate instructions to register for courses, also please utilize the notes section in Degree Works Audit. Should your Degree Works Audit have received an update prior to the Advisor reviewing your course work OR if notes are not available within the Degree Works Audit, the packet will have course options that you are able to consider-if you have not taken them already.

Transfer Orientation Instructions

I. Declare your Major: If you are certain about Economics, please be sure to do this in order to avoid an “MJ” Major

Declaration hold in the future. 1. Type in the following URL: www.cas.usf.edu/declare (OR locate the icon on the desktop) 2. Click the blue link that states “declare your major online.” 3. Sign on using your Net ID. 4. Fill out the page with your name, U#, and other information. At the bottom of the page, pick your major

from the drop down box. 5. You do not have an MJ hold on your registration. 6. Press “Declare” once at the bottom of the page. 7. Please note that this declaration will take about 48 hours to process in the system.

II. Searching and Registering for courses. 1. Please open your Student Oasis account (log into myusf; select “my resources” from the green bar at the top; then

“Oasis”); then click student; registration; select term and submit once you have identified correct term (I,e: Summer 2015 or Fall 2015); if you desire to see if you have any holds you can select registration status and you should be able to identify any holds on your account here; you will then want to select “Register, Add or Drop Classes” as this is where you will put the CRN numbers for the courses that you desire to register for (if you need to change your schedule (I,e: add/drop a course) you can do so here during registration until add/drop wee; you can also use the “Week at a Glance” option to see the how courses have been scheduled up to a point; Degreeworks (if needed). The third tab will be the course schedule page.

2. You can get to the course schedule page by going back to www.usf.edu. Click on the green bar that says “Academics.” On the left side of the page in green lettering, click on “Courses and Calendar.”

3. Then, on the right side of the page, click “Class Schedule Search.” 4. At the top of the page, click on “Summer 2015” or “Fall 2015” from the drop down box. Then, click “Tampa” from

the campus box. A large section will open up below. 5. Economics courses can be found by searching Department: Economics; Capstone Exit and Writing Intensive Exit

course can be found by using the bottom right of the class schedule search; Foundations of Knowledge and Learning courses can also be found using the bottom right of the class schedule search (NOT the left); Gordon Rule Communication courses can be found using the bottom left of the class schedule search; Specific courses can be found using the subject and course number; Non-Major Upper Level (3,000 or 4,000) courses can be found by typing the number “3” or “4” into the “Number” box on the class schedule search; Use your handout and speak with the advisors to determine the best schedule for you.

6. Once you find a course that you want to take, copy the CRN and go back to the Oasis page 7. On Oasis, under Student, under “Add or Drop Courses,” paste the CRN in an empty box and press submit. Every

time you find a course you want, immediately put the CRN into Oasis and press submit. Once you get a course listed on Oasis, move on to your next requirement.

III. Log into Oasis and DegreeWorks (if student needs to open Degree Works Audit) 1. Open a new tab and go to www.usf.edu. 2. From here, click on “myUSF,” which is on the top right of the page in the dark green bar. 3. A dashboard will open up. Click on “Oasis.” 4. Click on “Student.” This page is very important, and you will come back to it in a minute. 5. Click on “Degreeworks.” A new page will open up that has your information at the top with your test scores (if

you scroll a bit down). 6. Refer to your test scores and flow chart to determine math and science coursework needed 7. Refer to Degreeworks, about halfway down the page to determine FKL’s still needed. 8. If you have test credit or dual enrollment credit, please consult with an advisor

To schedule an advising appointment: USF Students: http://eschedule.forest.usf.edu/login.aspx Non USF Students: http://eschedule.forest.usf.edu/NonStudentlogin.aspx

http://www.cas.usf.edu/declarehttp://www.usf.edu/http://www.usf.edu/http://eschedule.forest.usf.edu/login.aspxhttp://eschedule.forest.usf.edu/NonStudentlogin.aspx

Major and degree requirements

B.A. ECONOMICS Requirements for the Major in Economics 33 credits

Students must obtain a grade of “C-” or higher in all courses required for the major or minor in Economics.

Grade point average of 2.0 or better must be maintained in Major or Minor coursework.

Location: CMC 206b. [email protected]. Ph: 813/974.4252 Fax: 813/974.6510

Core Courses: 18 Credit Hours * Pre-Req

ECO 2013 Macroeconomics Principles(SB) 3 hrs ECO 2023 Microeconomics Principles 3 hrs ECO 3101 Intermediate Price Theory 3 hrs ECO 2023 (C-) + ECO 4935 (C-) or MAC 2233 (C-) or MAC 2311 (C-) ECO 3203 Intermediate Macroeconomics 3 hrs ECO 2013 (C-) + ECO 3101+ECO 4935(C-) or MAC 2233 (C-) or MAC 2311 (C-) ECO 4935 Analytical Tools for Economists 3 hrs STA 2023 Introduction to Statistics 3 hrs

Elective Courses: 15 Credit Hours * Pre-Req

ECO 3622 American Economic History 3 hrs (ECO 2013 and ECO 2023) ECO 3703 International Economics(In’l, MW/MI) 3 hrs (ECO 2013 and ECO 2023) ECO 4105 Advanced Price Theory 3 hrs (ECO 3101 w/ B or better) ECO 4201 Advanced Macroeconomic Theory 3 hrs (ECO 3203 w/B or better) ECO 4270 Economic Growth 3 hrs (ECO 3101) ECO 4303 History of Economic Thought 3 hrs (ECO 2013 and ECO 2023) ECO 4323 Radical Political Economy(MW/MI) 3 hrs (ECO 1000 or ECO 2013 or ECO 2023) ECO 4400 Game Theory & Economic Applications 3 hrs (ECO 2013 and ECO 2023) ECO 4401 Intro to Mathematical Economics 3 hrs (ECO 2013 and ECO 2023, and MAC 2241 or MAC 2233) ECO 4421 Introduction to Econometrics 3 hrs (ECO 3101 and QMB 3200 w/ B or better) ECO 4504 Public Finance(PLC) 3 hrs (ECO 3101) ECO 4704 International Trade and Policy(In’l) 3 hrs (ECO 3101) ECO 4713 International Macroeconomics(In’l) 3 hrs (ECO 3101) ECO 4905 Independent Study (S/U) 3 hrs ECO 4914 Independent Research 3 hrs ECO 4935 Special Topics ECP 3125 Economics of Inequality, Poverty, & Discrim. (ECO 1000 or ECO 2013 or ECO 2023) ECP 3201 Economics of Women and Work (MW/MI) (PLC) 3 hrs (ECO 1000 or ECO 2013 and ECO 2023) ECP 3203 Labor Economics(PLC) 3 hrs (ECO 3101) ECP 3302 Environmental Economics (MW/MI) (PLC)3 hrs (ECO 2023) ECP 3413 Economics of Regulation and Antitrust(PLC)3 hrs (ECO 2013 and ECO 2023) ECP 3403 Industrial Organization 3 hrs (ECO 3101) ECP 3530 Economics of Health(PLC) 3 hrs (ECO 3101) ECP 3613 Urban Economics 3 hrs (ECO 3101)

mailto:[email protected]

ECP 3623 Regional Economics (ECO 3101) ECP 4006 Economics of Sports 3 hrs (ECO 3100 or ECO 3101) ECP 4232 Collective Bargaining and Public Policy 3 hrs (ECO 2023) ECP 4451 Law and Economics (PLC) 3 hrs (ECO 2013 and ECO 2023) ECP 4505 Economics of Crime(PLC) 3 hrs (ECO 2013 and ECO 2023) ECP 4510 Economics of Education (ECO 3101 or ECO 2013 and ECO 2023 w/ B) ECP 4704 Economics of Business Strategy 3 hrs (ECO 3101) ECS 3013 Economic Development (In’l) 3 hrs (ECO 2013 and ECO 2023) ECS 4003 Comparative Economic Systems (In’l, MW/MI) 3 hrs (ECO 1000 or ECO 2013 or ECO 2023) ECS 4430 Economic of Latin America (In’l) 3 hrs (ECO 1000 or ECO 2013 and ECO 2023) Requirements for the Minor in Economics 18 credits ECO 2013 Economic Principles: Macroeconomics ECO 2023 Economic Principles: Microeconomics Electives Economics electives numbered 3000 or higher (may include QMB 3200) ECO 1000, if taken before both ECO 2013 and ECO 2023, may be substituted for 3 hours of upper level electives. At least 9 hours must be taken in residence at USF. See list of courses above. **Note** -MAC 2233 Business Calculus or MAC 2311 Calculus 1 (or the equivalent) is an acceptable alternative to ECO 4935 and prerequisite for ECO 3101 and ECO 3203. -QMB 3200 is an acceptable alternative to STA 2023. -ECP 3703 (C), Managerial Economics (formerly ECO 3100), may be substituted for ECO 3101. Students may not take both for credit. -No more than 3 hours credit can be applied toward a major from ECO 4905 and/or ECO 4914. -At least 12 hours of upper level credit must be taken in residence at USF-Tampa. All students entering USF for the first time, in Fall 2012 or later, who earn 3D and/or F grades in any of the following courses at USF: ECO 2013, ECO 2023, ECO 3101, ECO 3203, STA 2023 (or QMB 2100), and ECO 4935 (or MAC 2233, MAC 2311 or equivalent) will be required to change their major to a major more appropriate to their goals and academic performance, and to a major that is not conferred by the Department of Economics through the College of Arts and Sciences. All continuing USF students who entered USF prior to Fall 2012 and who have not earned any D or F grades in any of the following courses at USF: ECO 2013, ECO 2023, ECO 3101, ECO 3203, STA 2023 (or QMB 2100), and ECO 4935 (or MAC 2233, MAC 2311 or equivalent) by the beginning of Fall 2012, will also be allowed 3 D and/or F grades in those courses before being required to change their major to a major more appropriate to their goals and academic performance, and to a major that is not conferred by the Department of Economics through the College of Arts and Sciences. All continuing USF students who entered USF prior to Fall 2012 and who have earned 1 or more D or F grades in any of the following courses at USF: ECO 2013, ECO 2023, ECO 3101, ECO 3203, STA 2023 (or QMB 2100), and ECO 4935 (or MAC 2233, MAC 2311 or equivalent) by the beginning of Fall 2012, will only be allowed 2 more D and/or F grades in those courses before being required to change their major to a major more appropriate to their goals and academic performance, and to a major that is not conferred by the Department of Economics through the College of Arts and Sciences.

Grade Forgiveness will NOT apply to the mandated requirement of changing majors.

Additional Requirements: Consult with Advisor

General Education: 36 hours- Choose either FKL or Liberal Arts depending on when you entered USF

English Composition – 6 hours ENC 1101 ENC 1102 FKL categories – use if you entered USF Fall 2009 or later

2 courses (6 hours) in CAMA/CAQR Mathematics ____________ ____________

1 course (3 hours) in CANP Physical Science ____________

1 course (3 hours) in CANL Life Science ____________

2 courses (6 hours) in CASB Social/Behavioral Sciences

1 course (3 hours) in CAFA Fine Arts

1 course (3 hours) in CAGC Human/ Cultural Diversity in a Global Context

2 courses (6 hours)in CAHU Humanities 2 courses (6 hours) from above must also meet HHCP Human Historical Context and Process dimension.

Liberal Arts categories – ***Use if you entered USF prior to Fall 2009***

English Composition – 6 hours ENC 1101 ENC 1102

2 courses (6 hours) in CAMA/CAQM Mathematics ____________ ____________

2 courses (6 hours) in Natural Sciences

2 courses (6 hours) in Social Sciences

1 course (3 hours) in Fine Arts

1 course (3 hours) in ALAMEA Perspectives

2 courses (6 hours) in Historical Perspectives

Exit/Upper-level Requirements: Choose either FKL or Liberal Arts depending on when you entered USF

FKL categories – use if you entered USF Fall 2009 or later

1 course (3 hours) in CPST Capstone

1 course (3 hours) in WRIN Writing Intensive

Liberal Arts categories – ***Use if you entered USF prior to Fall 2009***

1 course (3 hours) Literature and Writing Exit

2 courses (6 hours) Major Works/ Issues Exit

Other University and College Requirements: 120 hours – Total hours needed to be eligible for graduation 30 of the last 60 hours – Must complete 30 hours of the last 60 hours of coursework at USF (Tampa) 80 hours-Total hours must be taken outside Major 48 hour rule – 48 hours of upper level courses (3000 level and above) Summer rule – Must complete 9 hours of credit during summer terms GPA Requirement - Students must earn an Overall 2.0 GPA and USF 2.0 GPA and 2.0 Major FLENT (Foreign Language Entrance Requirement) FLEX (Foreign Language Exit Requirement) Gordon Rule Communication and Computation

FAQ - Major and Degree requirements

Hello Student!

Transfer Orientation: http://www.ugs.usf.edu/academicadvising/docs/Registration_guide_blackboard.pdf

http://economics.usf.edu/undergraduate/using/ http://economics.usf.edu/data/ECO%20Handbook.pdf

• ECO 2013: Macroeconomics • ECO 2023: Microeconomics • ECO 4935: Analytical Tools for Economists: This course will provide you with all of the

mathematical tools you will need for an undergraduate economics major. Once developed, each concept is immediately applied to an economic topic. Analytical Tools for Economists may be used in place of calculus as the prerequisite for Price Theory. Students with a strong background in math or who are thinking about graduate school in economics are encouraged to take calculus instead. *(The Analytical Tools course should only be taken to meet ECO 3101/ECO 3203 pre-req. Even if Calculus is taken later, please note the Analytical Tools course at WILL NOT count as an Economics Elective course at any point. Please take either the Analytical course OR a Calculus course to meet pre-req requirements)

• STA 2023: Students can also take this course instead of QMB 2100 and QMB 3200 and receive the adequate Statistics needed to proceed through the Economics Major. *(Note: Students who take the Analytical Tools course instead of Calculus should plan to take STA 2023 as QMB 3200 requires Calculus as a pre-req)

• QMB 2100: Business and Economics Statics I *(Please note that in order to take QMB 3200: Business and Economics Statistics II-one must have 60 credit hours earned and MAC 2311 or MAC 2233)

• QMB 3200: Business and Economics Statistics II *(Note: If you meet the appropriate pre-requisites for this course, you will still need to contact the College of Business, in order to receive a “permit” to register for the course. Information here: College of Business Permit information: http://www.usf.edu/business/undergraduate/advising/permit.aspx

• ECO 3101: Intermediate Price Theory (One must have: ECO 2023 and ECO 4935 or MAC 2311 or MAC 2233) *(Note: If you have “Exam Credit” MAC 2233 or MAC 2311, you will need to contact [email protected] to receive a permit for ECO 3101 as the system may not recognize that “Exam Credit” and hinder you from registering.

• Economics Elective course options (if open seats) for students that have ECO 2013 and/or ECO 2023: *(Note: Economic CORE and Elective options can be searched via the class schedule search system, by selecting Department: “Economics” Status: “All” as this will bring up courses with “open” and “closed” seating. You will also have a copy of the CORE and Elective courses that are being offered for Summer 2015 and Fall 2015. Again, those that one would be eligible to take based on having ECO 1000 or ECO 2013 and/or ECO 2023 are listed below. The Department of Economics offers various Electives each semester, therefore, one must choose based what is offered, interest, and having the appropriate pre-requisites. Please note, if you have “Exam Credit” for ECO 2013 and/or ECO 2023, you will need to [email protected] to

http://www.ugs.usf.edu/academicadvising/docs/Registration_guide_blackboard.pdfhttp://economics.usf.edu/undergraduate/using/http://economics.usf.edu/data/ECO%20Handbook.pdfhttp://www.usf.edu/business/undergraduate/advising/permit.aspxmailto:[email protected]:[email protected]

receive a permit for the respective Economics Elective that you desire to take as the system may not recognize that “Exam Credit” and hinder you from registering.

o ECO 2023: ECP 3302: Environmental Economics (Fall)

o ECO 2013 and ECO 2023 required: ECO 3703: International Economics ( Summer & Fall) ECP 3413: Economics of Regulation & Antitrust (Fall) ECP 4505: Economics of Crime(Fall) ECP 4510: Economics of Education (“B” or better needed in both ECO

2013/ECO 2023) (Fall) ECS 3013: Economic Development (Fall) ECO 3622: American Economic History (Summer)

• MAC 2233 (Business Calculus) or MAC 2311 (Calculus) o Note: Student thinking of pursuing Graduate work in Economics may take Calculus as it

better prepares them; others might just take Business Calculus o How to get into Calculus meet Pre-reqs or take CPT Exam

MAC 2233 (Pre-reqs): • ACT Math Minimum Score: 26 • or SAT Math Minimum Score: 590 • or MAC 1105 Minimum Grade: C • or MAC 1140 Minimum Grade: C • or MAC 1147 Minimum Grade: C

MAC 2311 (Pre-reqs): • SAT Math Minimum Score: 650 • or ACT Math Minimum Score: 29 • or MAC 1147 Minimum Grade: C • or • MAC 1114 Minimum Grade: C • and MAC 1140 Minimum Grade: C

CPT Placement Exam: http://uc.usf.edu/testing/cpt.asp CLEP: See CLEP Handout for more information or contact Advisor for CLEP

handout Exam Credit for MAC 2233 or MAC 2311:

http://www.ugs.usf.edu/student/crbyexam/exams.cfm o Math Advisor Permit information: http://math.usf.edu/forms/permit.aspx

http://math.usf.edu/resources/advising/ • Exit Course (Capstone Exit or Writing Intensive Exit): One must take One Capstone Exit (3credit

hours) and one Writing Intensive Exit course (3 credit hours) These are not specific to Major, rather, Upper level general education exit courses that must be taken at the USF-Tampa campus prior to Graduating. One can search for options that meet this requirement via the Class Schedule search system-bottom right by selecting each respective exit course (Capstone or Writing Intensive) one at a time (the search will not let you look for both courses together) You can select Status: “All” in order to see courses with “open” and “closed” seating or simply view “open” seating courses. Most courses should be an option for you to take unless they are restricted to a certain Major (I,e: Chemistry) or to a certain class standing (I,e: Junior; Senior; etc) The following link also has a list of the course options:

http://uc.usf.edu/testing/cpt.asphttp://www.ugs.usf.edu/student/crbyexam/exams.cfmhttp://math.usf.edu/forms/permit.aspxhttp://math.usf.edu/resources/advising/

http://www.ugs.usf.edu/gec/fkl/FKLrequirements.html *(Please just double check the class schedule search as it the most accurate and up to date as I am not sure how often this list is updated) Below are courses from each category that others have suggested:

• Capstone Exit: o ENG 4674 o EVR 4027 (online version only)

• Writing Intensive Exit: o ENC 3250 o ENC 3310 o ENG 4674 o LAE 4414

• Foreign Language (2 Semesters of same Foreign Language passed with a “C” or better needed in

order to receive a Bachelor’s of Arts in Economics. Note: Bachelor’s of Science within College of Business will no longer exist after a few semesters. Only students who started with the program and will currently finish are able to continue to pursue the program from my understanding)

o Foreign Language Requirements (FLENT and FLEX): FLENT or the Foreign Language Entrance Requirement should be completed prior to entering USF. Students who completed two years of the same foreign language in high school should submit an official high school transcript to USF Admissions (Office of Undergraduate Admissions 4202 E Fowler Avenue, SVC 1036 Tampa, FL 33620)to complete FLENT. In addition to the Foreign Language Entrance(FLENT) requirement all students applying for a Bachelor of Arts degree from USF must demonstrate competency in a foreign language-this requirement is known as the (FLEX) or the Foreign Language Exit requirement. To demonstrate this competency, students may take either two semesters of a beginning college-level foreign language or one semester of a higher-level course and earn a letter grade of “C” (no “S” grades) or above in the appropriate level course or demonstrate equivalent competency by passing an examination.

o Note: There are Testing (Placement or CLEP) out options, please see Orientation folder for more information, in addition, consult with your Advisor ([email protected]) as well as the World Languages Advisor for options: [email protected]

o As of right now, please note that Sign Language is accepted within the College of Arts and Sciences Economics Major

o By reviewing your Degree Works Audit or by searching Department: “World Languages”, Foreign Language options (except for American Sign Language-search Subject: “ASL”) available for the respective semester should come up. Please pay attention to the comments and instruction for respective courses as it will tell you to call a certain number for a permit-a permit is what is input in the system for one to be able to register for a course at times.

• Upper Level Credit: Students need 48 credit hours at a 3,000 or 4,000 level o College of Arts and Sciences ECO Major will give you 24 credit hours (depending on what

you already taken) o Exit Courses: Capstone and Writing Intensive Courses will give you 6 credit hours o Thus, you may only need to take 18 additional credit hours at a 3,000 or 4,000 level-at

most-depending on what you come in with to meet this goal. Some students choose to

http://www.ugs.usf.edu/gec/fkl/FKLrequirements.htmlmailto:[email protected]:[email protected]

pursue a Minor with these “additional” credit hours instead of taking “random” 3,000 or 4,000 level courses

o Note: The “Number” option on the Class Schedule search to search by “3” or “4” to search for 3,000 or 4,000 Upper Level course work

o Upper Level Courses Options (if you plan to take the “random” 3/4,00 level route, below are other recommendations: MUL 3001 ARH 3001 SPM 3012

• Gordon Rule Courses: Should you have any of these courses to fulfill, you can also search via the Class Schedule search-bottom left (if facing computer screen) in order to find courses that meet this requirement.

o Gordon Rule Communication: Students must take 12 credit hours to fulfill the Gordon Rule Communication requirement. *(Note: 6 credits hours should be applied from English I and English II, thus leaving the student with 6 credit hours in order to meet this requirement)

REA 2105 o Gordon Rule Computation:

Math (MAC 2233 or MAC 2311) and Statistics (STA 2023 or QMB 2100) courses should satisfy this requirement

FKL Courses: Should you need any FKL courses, you can search via the Class Schedule search at the bottom right (if facing screen) for the respective FKL that you need to fulfill (I,e: FKL English, FKL Life Science, FKL Physical Science, FKL Social and Behavioral Science, FKL Fine Art, FKL Human Cultural and Diversity in a Global Context, or FKL Humanities)

http://www.ugs.usf.edu/gec/fkl/FKLrequirements.html

• You should also be able to view course options here (in addition, learn how many courses one must take to satisfy this respective category): http://www.ugs.usf.edu/gec/fkl/FKLrequirements.html

• No recommendations at this time *(Note: ECO 2013 (as of right now) counts as an FKL Social and Behavioral Science courses)

• FKL Math and Quantitative Reasoning Requirement: Note: Math (MAC 2233 or MAC 2311) and Statistics (QMB 2100) courses should satisfy this requirement

Degree Works Audit:

• You should be able to access Degree Works through the MyUSF Log-in Portal via your student OASIS account

• Please use this helpful tool in order to keep track of your Degree progress, credit hours, notes from Advisor, and other helpful information

ECO 4935:

• ECO 4935: No plans to offer Special Topic: Exit Requirement in Economics at all at this point • Currently, requirement being waived for students until further notice

http://www.ugs.usf.edu/gec/fkl/FKLrequirements.htmlhttp://www.ugs.usf.edu/gec/fkl/FKLrequirements.html

• ECO 4935: (Special Topic) is also the “Special Topic” code for the Department of Economics, therefore, other courses may be offered under the same Subject and number:

o Sometimes in Degree Works when students registered for courses with that same Subject and Course number it may slip into the ECO 4935 (Exit Requirement) space-sometimes Advisor has had to move the course(once grades roll) into the Elective space for the student

o Sometimes seeing these course options makes students think that they still need to meet the (ECO 4935: Exit requirement) OR that they need to take that specific ECO 4935 course being offered to meet the (ECO 4935: Exit Requirement) when they do not.

College of Business vs. College of Arts and Sciences: • (Internally) The main difference between the College of Business and the College of Arts and

Sciences is the College expectations: Students within the College of Business have Business Core Classes (I,e: Finance, Marketing, Accounting) in which the College of Business students have to take, in addition, the College of Business is a limited access program-meaning students must meet certain requirements in order to strive to seek access into the College (I,e: Meet Pre-req courses, GPA minimums; etc)

• Courses that overlap between the 2 Colleges: MAC 2233, ECO 2013, ECO 2023, QMB 2100, QMB 3200

• Unfortunately, Economics is no longer an option within the College of Business (the College of Business previously offered a B.A. and a B.S. in Economics)As of right now, Economics is only available within the College of Arts and Sciences as a Bachelor’s of Arts (B.A.)

o (Internally) The difference was: B.A.=2 semesters of same Foreign Language passed with a “C” or better B.S.=Typically, means no Foreign Language requirement

o In relation to career opportunities and Degree there was no real other difference here • Please note the MAJOR (Economics) requirements for the College of Business and the College of

Arts and Sciences were exactly the SAME with the exception of the College of Business requirements and Business Core Classes.

• For more information about the College of Business, please visit here: http://www.usf.edu/business/

• College of Business Permit information: http://www.usf.edu/business/undergraduate/advising/permit.aspx

Minors (and other Double Majors):

• See Minor or Major Advisor of interests *(Undergraduate Catalog: http://www.ugs.usf.edu/catalogs.htm) (Web version)

• To find Advisor contact information, here is a good place to start: http://www.ugs.usf.edu/academicadvising/index.htm

http://www.usf.edu/business/http://www.usf.edu/business/undergraduate/advising/permit.aspxhttp://www.ugs.usf.edu/catalogs.htmhttp://www.ugs.usf.edu/academicadvising/index.htm

Additional registration Info

Course Evaluations:

• 1st Step: Office of Admissions Evaluation • 2nd Step: Once (Major is declared) respective College (I,e: College of Arts and Sciences, College of

Business, College of Public Health, etc) reviews students work • 3rd Step: If after these reviews have occurred, which typically, take about a Semester from the

student attending School at USF-Tampa, then student can work with Major Advisor to have courses evaluated by respective Department in which the course would fall under at USF-Tampa

Permits:

• Permits can only be entered in by the Advisor of the Department in which the course is taught within-student would need to see the respective Advisor for permit (if student believes student meet qualifications to receive permit)

• Maybe able to provide Advisor with Unofficial Transcript; Scanned unaltered documents (I,e: Scanned version of Unofficial Transcript with course; Screen shot with your information, the course, the grade, Exam Credit, etc)

• Some Departments have it set up to where students can request permits online; some Departments students will need to e-mail the Advisor’s advising e-mail address for assistance. To find out which Department a course is taught in click course subject and number within the class schedule. To find Advisor contact information, here is a good place to start: http://www.ugs.usf.edu/academicadvising/index.htm

How to schedule an appointment with an Advisor:

• E-scheduler on-line system Link: https://webauth.usf.edu/login?TARGET=http%3a%2f%2feschedule.forest.usf.edu%2fadminlogin.aspx

• You should select the respective Department or College in which you are trying to gather information from or meet with

• Note: When trying to schedule an appointment with the College of Arts and Sciences Economics Advisor: you should select Economics-College of Arts and Sciences; when trying to schedule an appointment with the College of Business: you should select Business within the E-scheduler online system.

Information on how to register for classes, Summer 2015 and Fall 2015 course options, Economics Electives Pre-req information, and an Economics 4 year plan and much more information are included in your packet.

As stated before, please feel free to schedule an appointment with the Advisor to speak about your situation in detail. You are more than welcome to come in person or to speak with the Advisor over the phone.

http://www.ugs.usf.edu/academicadvising/index.htmhttps://webauth.usf.edu/login?TARGET=http%3a%2f%2feschedule.forest.usf.edu%2fadminlogin.aspxhttps://webauth.usf.edu/login?TARGET=http%3a%2f%2feschedule.forest.usf.edu%2fadminlogin.aspx

Graduation Planning

If already taken:

• QMB 2100 Alternative Courses: STA 1014; STA 2122; ENG 3443; STA 2023; PSY 2204; PSY 3213; PSY 3204 • QMB 3200 Alternative Courses: STA 3024 • ECO 3101 Alternative Courses: Managerial Economics(Old number: ECO 3100 or New Number: ECP 3703--Neither offered anymore) • Major Residency: 12 credit hours of Upper Level (Major) course work must be taken in Residence at USF-Tampa

This plan is not intended for students to self-advise, but rather as a general guideline to promote student success, decrease student debt, and facilitate a timely graduation. Please make

sure that you are meeting with your Academic Advisor on a regular basis to ensure that you are taking the proper coursework for your academic and career goals.

YEAR ONE FALL SPRING SUMMER *(Need at least 9 credit hours) ENC 1101 English Composition I/ Gordon Rule Communication

ENC 1102 English Composition II/Gordon Rule Communication

Visit Career Center and/or TRAC office consider Minor options

XXX FKL NS Life Science ECO 2052 Analytical Tools for Economics or MAC 2XXX Business Calculus or Calculus Create an Employ-A-Bull account

ECO 2013 Macroeconomics/FKL Social and Behavioral Science

ECO 2023 Microeconomics Consider student organizations: http://involvement.usf.edu/search.htm

XXX FKL Humanities/Historical Context and Process

XXX FKL Human/Diversity & Global

SLS2901 Academic Foundations Seminar XXX FKL Fine Arts Total Hours: 15 Total Hours: 15-16 *(Depending on

Calculus) Total Hours: YEAR TWO FALL SPRING SUMMER *(Need at least 9 credit hours) XXX 3/4XXX Major Selective/UL STA 2023 Introduction to Statistics I or

QMB 2100 Business & Economics Statistics

Graduation check-in & consider Graduate School

XXX FKL Humanities/Gordon Rule Communication

XXX FKL Social & Behavioral Sciences Consider possible Internships or Study Abroad opportunities

XXX 4 hrs Total Hr Elective XXX FLEX/Foreign Language II XXX FLEX/Foreign Language I XXX 4 hrs Total Hr Elective Total Hours: 14 Total Hours: 14 Total Hours: YEAR THREE FALL SPRING SUMMER *(Need at least 9 credit hours) ECO 3101 Intermediate Price Theory ECO 3203 Intermediate Macroeconomics Start completing Graduate School

applications XXX FKL NS Physical Science XXX 3/4XXX Major Selective/UL Visit the Career Center for Job Search

Prep (Resume; Cover Letter; Interviewing; Career Library)

XXX 3/4XXX (4) Total Hr Elective/UL XXX 3/4XXX (4) Total Hr Elective/UL Beginning Junior semester: Apply for ECO Accelerated program

XXX 3/4XXX Major Selective/UL XXX 3/4XXX Total Hr Elective/UL XXX 3/4XXX Total Hr Elective/UL or QMB 3200 Business & Economics Statistics

XXX Writing Intensive/Gordon Rule Communication

Total Hours: 15 Total Hours: 15 Total Hours: YEAR FOUR FALL SPRING SUMMER *(Need at least 9 credit hours) XXX 3/4XXX Major Selective/UL XXX Total (4) Hr Elective In Fall or Spring complete Graduation

check and apply for Graduation XXX FKL Capstone XXX 3/4XXX Major Selective/UL Final semester Complete Accelerated

program transition application XXX Total (4) Hr Elective XXX Total Hr Elective XXX 3/4XXX (4) Total Hr Elective/UL XXX Total Hr Elective XXX 3/4XXX Total Hr Elective/UL XXX 3/4XXX Total Hr Elective/UL

Total Hours: 16 Total Hours: 16 Total Hours:

http://involvement.usf.edu/search.htm

Milestones for Advising

First Year: • Attend every class and turn in every assignment on time • Work on improving and learning effective study habits • Use a planner to write due dates and schedule (they are free in MSC) • Learn University’s policies on plagiarism, cheating, and academic integrity • Learn educational systems such as OASIS, Degree Works, Canvas, Schedule Search, MyUSF • Utilize academic support services as needed such as The Writing Center and The Learning Commons • Become familiar with university administration such as Financial Aid, Office of Admissions, Registrar, and Cashier • Seek out connections with students and faculty from within your major • Get involved on campus in student organizations • Make appointments to see your advisor in each semester to release your AA hold and discuss progress and goals • Visit Career Center and/or TRAC office consider Minor options: http://www.usf.edu/career-services/ & http://www.ugs.usf.edu/trac/trac.htm &

http://www.ugs.usf.edu/catalogs.htm • Create an Employ-A-Bull account: https://www.myinterfase.com/usf/Account/LogOn?ReturnUrl=%2fusf%2fstudent • Consider student organizations: http://involvement.usf.edu/search.htm • Visit Myplan: http://www.myplan.com/ • Action(s):

o ___________________________________ Date completed: _____________________ o ___________________________________ Date completed: _____________________

Second Year: • Seek undergraduate research, study abroad, or internships

o http://www.usf.edu/research-innovation/ o http://educationabroad.global.usf.edu/ o http://www.usf.edu/career-services/students/internships-and-co-op.aspx o http://gia.usf.edu/el/

• Continue involvement in student organizations and plan to take on leadership positions in said organizations • Explore career goals by visiting the Career Center (SVC 2088) • If considering graduate schools of any type ( law school, health professions) after graduation, make an appointment to meet with these specialty advisors

o http://gia.usf.edu/prelaw/ • Continue to maintain consistent contact with your advisor • Discuss course selections and goals with your advisor • Graduation check-in & consider Graduate School:

o http://economics.usf.edu/undergraduate/ba_ma/ o http://www.usf.edu/career-services/students/considering-graduate-school.aspx o https://www.aeaweb.org/gradstudents/index.php

• Action(s): o ___________________________________ Date completed: _____________________ o ___________________________________ Date completed: _____________________

Third Year • Be involved in undergraduate research and or internships • Continue involvement in student organizations and plan to take on leadership positions in said organizations • Create resume; identify achievements and address gaps • Research career options and graduate programs

o Start completing graduate school applications o Visit the Career Center for Job Search Prep (Resume; Cover Letter; Interviewing; Career Library) o Beginning Junior semester: Apply for ECO Accelerated program

• Approach faculty about letters of recommendation • Take graduate school entrance exams • Continue to maintain consistent contact with your advisor • Discuss course selections and goals with your advisor • Meet with faculty to discuss and plan for letters of recommendation • Action(s):


Fourth Year • Review your Degree Works audit with your advisor for final graduation check

o Apply for Graduation via Student OASIS Account & Register for Commencement Ceremony: http://usfweb2.usf.edu/commencement/ • Maintain consistent contact with your Academic Advisor to discuss post-graduation plans • Continue work with the Career Center to build job seeking skills and implement post graduation plans • Prepare your final applications to graduate school

o Final semester Complete Accelerated program transition application • Meet with specialty advisors (pre-law, pre-med, etc.) to finalize plans to attend graduate school • Meet with faculty to secure letters of recommendation that were previously agreed to • Submit resumes and begin interviewing • Action(s):


http://www.usf.edu/career-services/http://www.ugs.usf.edu/trac/trac.htmhttp://www.ugs.usf.edu/catalogs.htmhttps://www.myinterfase.com/usf/Account/LogOn?ReturnUrl=%2fusf%2fstudenthttp://involvement.usf.edu/search.htmhttp://www.myplan.com/http://www.usf.edu/research-innovation/http://educationabroad.global.usf.edu/http://www.usf.edu/career-services/students/internships-and-co-op.aspxhttp://gia.usf.edu/el/http://gia.usf.edu/prelaw/http://economics.usf.edu/undergraduate/ba_ma/http://www.usf.edu/career-services/students/considering-graduate-school.aspxhttps://www.aeaweb.org/gradstudents/index.phphttp://usfweb2.usf.edu/commencement/

Preparing for Career in Economics Info

AEAweb: What Is Economics?

https://www.aeaweb.org/students/WhatIsEconomics.php[1/30/2015 2:29:25 PM]

What Is Economics?

Economics is the study of how people choose to useresources.

Resources include the time and talent people haveavailable, the land, buildings, equipment, and other toolson hand, and the knowledge of how to combine them tocreate useful products and services.

Important choices involve how much time to devote towork, to school, and to leisure, how many dollars tospend and how many to save, how to combine resourcesto produce goods and services, and how to vote andshape the level of taxes and the role of government.

Often, people appear to use their resources to improve their well-being. Well-being includes thesatisfaction people gain from the products and services they choose to consume, from their time spentin leisure and with family and community as well as in jobs, and the security and services provided byeffective governments. Sometimes, however, people appear to use their resources in ways that don'timprove their well-being.

In short, economics includes the study of labor, land,and investments, of money, income, and production,and of taxes and government expenditures. Economistsseek to measure well-being, to learn how well-beingmay increase over time, and to evaluate the well-beingof the rich and the poor. The most famous book ineconomics is the Inquiry into the Nature and Causes ofThe Wealth of Nations written by Adam Smith, andpublished in 1776 in Scotland.

Although the behavior of individuals is important,economics also addresses the collective behavior ofbusinesses and industries, governments and countries,and the globe as a whole. Microeconomics starts by thinking about how individuals make decisions.Macroeconomics considers aggregate outcomes. The two points of view are essential in understandingmost economic phenomena.

The list of fields in economics illustrates the scope of economic thought.

Definitions of Economics from Historic Textbooks

"Economics is the study of people in the ordinarybusiness of life."-- Alfred Marshall, Principles of economics; anintroductory volume (London: Macmillan, 1890)

"Economics is the science which studies human behavioras a relationship between given ends and scarce meanswhich have alternative uses."-- Lionel Robbins, An Essay on the Nature andSignificance of Economic Science (London: MacMillan,1932)

Economics is the "study of how societies use scarceresources to produce valuable commodities and distribute them among different people."-- Paul A. Samuelson, Economics (New York: McGraw-Hill, 1948)

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AEAweb: What Is Economics?

https://www.aeaweb.org/students/WhatIsEconomics.php[1/30/2015 2:29:25 PM]

The Association has about 18,000 members from all over the world, most of whom are workingeconomists in academia, business, government, international and not-for-profit agencies. It wasfounded in 1885 to promote the study of economics from all points of view. "The Association as suchwill take no partisan attitude, nor will it commit its members to any position on practical economicquestions." The Association publishes seven journals. About 4,000 libraries subscribe to the journalsand individual members receive journals with membership. The Association also produces ECONlit, adatabase to identify and locate books and articles in economics. The annual meeting of the Association,usually in early January, attracts about eight thousand economists who present their work and discusscurrent economic issues. The Association recognizes with awards the achievement of a small number ofeconomists who have made outstanding achievements in the advance of economic thought. TheAssociation promotes the market for economists by helping employers find applicants and vice versa.The Association is headquartered in Nashville, Tennessee.

| A E A | J o u r n a l s | A n n u a l M e e t i n g s | E c o n L i t | J O E | R F E | M e m b e r s |

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AEAweb: Fields

https://www.aeaweb.org/students/Fields.php[1/30/2015 2:29:38 PM]

Fields

What are the fields in economics?

Economists organize their discipline in fields from agriculturaleconomics to urban economics. Many economists specializein a field by publishing original essays on topics and teachingcourses in a specific field.

The fields are in two sets: Those that develop core skills andthose that emphasize application of the skills in specificsettings. The core itself involves two modes of analysis. TheSkills page gives simple examples. First, mathematicaldescription of economic phenomena allows derivation ofrelationships. This mode of thought is called economic

theory. Mathematics allows arguing by deductive reasoning from stated premises to a conclusion. Itoffers the internal consistency of mathematical proofs but requires no evidence of applicability.

The second core method looks for evidence based on observing economic phenomena. It drawsinference from persistent patterns. A consistent pattern that is distinct from the complexity andrandomness in nature is likely to have meaning. This mode of thought is called inductive reasoning.It is the mode of analysis of economic historians, statisticians, and experimenters. The study of formalmethods for drawing inferences from statistical evidence in economics is called econometrics.

Many advances in economic understanding come from the interaction between deduction and induction.When mathematical analysis yields new insights, the historians, statisticians, and experimenters lookfor ways to judge whether available evidence is consistent with the theory. When observation showsphenomena that are inconsistent with available theories, economic theorists look for new theories. Thecore fields are in item C on the list of fields shown below.

Most economists concentrate their work and teaching in an applied field, that is, in the other categoriesshown below. They study the history of the phenomena and adapt the core theoretical ideas ofeconomics to offer explanations. They develop a variety of methods to observe and measure eventsand apply econometric methods to test hypotheses. For example, international economists study thehistory of trade, balance of payments, and exchange rates. They will understand both the economictheories and the econometric findings that explain international economic phenomena.

The fields of economics, however, have fuzzy boundaries because economic events are interconnected.Every transaction has a buyer and a seller; each economic event has extended consequences. A changein a wage rate will affect the cost of the goods the workers produce as well as change the income andconsumption patterns of the workers’ households. An economist working in one field will be aware ofconnections to the rest of the economy.

The fields of economics, then, are more signposts than fences. They include the core areas ofmathematical and statistical methods as well as the many arenas in which the core methods areapplied. Most undergraduate Programs include study in the core fields and in a selection of appliedfields. The standard classification of economic fields given below appears in the Journal of EconomicLiterature . These field labels provide enduring markers on the terrain of economic thought.

Journal of Economic Literature Classification of Fields

A. General Economics and Teaching -- The principles course in the economics curriculum developscore ideas. The course also provides the big picture of how individual economic events fit together toshape aggregate outcomes. Mastering basic ideas and getting a sense of how the parts fit into thewhole is an essential entry point to the study of other fields and more advanced ideas in economics.The A category also includes discussion of the teaching of economics.

B. Schools of Economic Thought and Methodology -- Economists who study the history ofeconomic thought investigate how the core ideas in economics have developed.

C. Mathematical and Quantitative Methods -- Econometricians develop methods to measure





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https://www.aeaweb.org/students/Skills.phphttp://en.wikipedia.org/wiki/Economic_theoryhttp://en.wikipedia.org/wiki/Economic_theoryhttp://en.wikipedia.org/wiki/Deductive_reasoninghttp://en.wikipedia.org/wiki/Inductive_reasoninghttp://en.wikipedia.org/wiki/Econometricshttps://www.aeaweb.org/students/Programs.phphttp://en.wikipedia.org/wiki/Education_economicshttp://en.wikipedia.org/wiki/History_of_Economic_Thoughthttp://en.wikipedia.org/wiki/Econometricshttp://www.aeaweb.org/students/index.phphttp://www.aeaweb.org/students/index.phphttp://www.aeaweb.org/students/WhatIsEconomics.phphttp://www.aeaweb.org/students/Fields.phphttp://www.aeaweb.org/students/Issues.phphttp://www.aeaweb.org/students/FindingFacts.phphttp://www.aeaweb.org/students/Skills.phphttp://www.aeaweb.org/students/Books.phphttp://www.aeaweb.org/students/Programs.phphttp://www.aeaweb.org/students/Careers.phphttp://www.aeaweb.org/students/GraduateStudy.phphttp://www.aeaweb.org/students/GraduateStudy.phphttp://www.aeaweb.org/students/Opportunities.phphttp://www.aeaweb.org/students/Opportunities.phphttp://www.aeaweb.org/gradstudents/index.phphttp://www.aeaweb.org/gradstudents/Timeline.phphttp://www.aeaweb.org/gradstudents/Funding.phphttp://www.aeaweb.org/gradstudents/Mathematical_Preparation.phphttp://www.aeaweb.org/gradstudents/Schools.phphttp://www.aeaweb.org/gradstudents/Rankings.phphttp://www.aeaweb.org/gradstudents/Education_Issues.phphttp://www.aeaweb.org/gradstudents/Education_Issues.phphttp://www.aeaweb.org/gradstudents/Gender_and_Race.phphttp://www.aeaweb.org/gradstudents/Foreign_Students.phphttp://www.aeaweb.org/gradstudents/Miscellaneous_Topics.phphttp://www.aeaweb.org/gradstudents/JobMkt_Salary_Issues.phphttps://www.aeaweb.org/contact.phphttps://www.aeaweb.org/index.phphttps://www.aeaweb.org/index.phphttps://www.aeaweb.org/aea_journals.phphttps://www.aeaweb.org/aea_journals.phphttps://www.aeaweb.org/Annual_Meeting/index.phphttps://www.aeaweb.org/Annual_Meeting/index.phphttps://www.aeaweb.org/econlit/index.phphttps://www.aeaweb.org/econlit/index.phphttps://www.aeaweb.org/joe/index.phphttps://www.aeaweb.org/joe/index.phphttps://www.aeaweb.org/rfe/index.phphttps://www.aeaweb.org/rfe/index.phphttps://www.aeaweb.org/membership.phphttps://www.aeaweb.org/membership.php

AEAweb: Fields


economic phenomena. They apply the scientific method by formulating hypotheses, gathering evidence,and judging whether the evidence is consistent with the hypotheses. Mathematical economists developtools for finding optimal solutions to economic problems and advance ideas in game theory. Gametheory is the method for analyzing how one player chooses strategies in light of knowledge of thepossible strategies a rival might choose. Game theory is used to analyze many economic phenomenaincluding the interaction between firms. In recent decades, experimental economists have testedeconomic theories in laboratories and in the field.

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D. Microeconomics -- Studying how markets function and the role of prices is of central concern inunderstanding economics. Investigation of the behavior of individual households, firms, and prices andquantities of specific products like automobiles is called microeconomics. Behavioral economists studythe cognitive and emotional dimensions of economic decisions.

E. Macroeconomics and Monetary Economics -- The actions of individuals sum to the total activityin a whole economy. In the aggregate, the total amount of products consumed by households and firmsmust equal the total amount produced. The total amount firms pay to workers and investors mustequal the amount households receive in income. Study of the aggregate relationships in an economy iscalled macroeconomics. Economic growth, the role of money and interest rates, and changes in theoverall level of prices and the aggregate level of unemployment are central concerns ofmacroeconomics.

F. International Economics -- International economists study trade among nations and the flow offinance across international borders. Globalization and the deficit in the U.S. balance of payments withother countries are current concerns.

G. Financial Economics -- Financial economists study the process of saving and investing with aspecific concern for how individuals and firms deal with risk.

H. Public Economics -- Public finance economists consider the role of government in the economy. Some focus on evaluating government programs and others focus on the design of tax systems. Publicfinance economists are also interested in how the political process makes decisions. Issues of nationalsecurity and defense appear here as well the study of state and local governments.

I. Health, Education, and Welfare -- Some economists focus on the markets and governmentpolicies that directly shape access to health care. Others focus on schools and educational policies. Stillothers consider the economic circumstances of the poor and evaluate alternative government programsto improve the well-being of the poor.

J. Labor and Demographic Economics -- Labor economists study employers’ decisions to hireworkers and employees’ decisions to work. They study how wages are set, the nature of incentivesworkers face, and the role of minimum wage laws, unions, pensions plans, and training programs. Theyare also interested in the formation of families, determinants of birth rates, migration, populationchange, and aging.

K. Law and Economics -- Some economists use the tools of economics to study the incentives forhuman behavior that are defined by the legal system. Property rights, for example, are essential formarkets to work well but they can be defined in a variety of ways that have different effects on thewell-being of people.

L. Industrial Organization -- IO is the study of individual markets, the nature of competition, and therole of prices. Some economists study issues in anti-trust policy. Others study the role of advertising,pricing policies, and how costs vary with the scale of operations. Some IO economists investigateparticular industries such as appliances, software, and electricity. In the last decade a number ofeconomists have studied economic issues in sports, recreation, and tourism.

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M. Business Administration and Business Economics, Marketing, Accounting -- Businesseconomists study decisions made by firms. How do firms maximize profit? What prices should they setand how much should they produce? What is the role of incentives within the firm, of entrepreneurship,and leadership?

N. Economic History -- Economic historians explore changes in economic well-being and howeconomic institutions have developed. The emergence of markets, the forces shaping the industrialrevolution, the sources of improvements in agricultural productivity, the influence of railroads and othernew technologies provide perspective on current economic issues.

O. Economic Development, Technical Change, and Growth -- Economists who are interested in

http://en.wikipedia.org/wiki/Mathematical_economicshttp://en.wikipedia.org/wiki/Game_theoryhttp://en.wikipedia.org/wiki/Experimental_economicshttp://en.wikipedia.org/wiki/Microeconomicshttp://en.wikipedia.org/wiki/Behavioral_economicshttp://en.wikipedia.org/wiki/Macroeconomicshttp://en.wikipedia.org/wiki/Moneyhttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/International_economicshttp://en.wikipedia.org/wiki/International_tradehttp://en.wikipedia.org/wiki/International_financehttp://en.wikipedia.org/wiki/Balance_of_paymentshttp://en.wikipedia.org/wiki/Financial_economicshttp://en.wikipedia.org/wiki/Public_economicshttp://en.wikipedia.org/wiki/Taxhttp://en.wikipedia.org/wiki/Health_economicshttp://en.wikipedia.org/wiki/Education_economicshttp://en.wikipedia.org/wiki/Social_welfarehttp://en.wikipedia.org/wiki/Labor_economicshttp://en.wikipedia.org/wiki/Demographicshttp://en.wikipedia.org/wiki/Law_and_economicshttp://en.wikipedia.org/wiki/Industrial_organizationhttp://en.wikipedia.org/wiki/United_States_antitrust_lawhttp://en.wikipedia.org/wiki/Advertisinghttp://en.wikipedia.org/wiki/Managerial_economicshttp://en.wikipedia.org/wiki/Marketinghttp://en.wikipedia.org/wiki/Accountinghttp://en.wikipedia.org/wiki/Economic_historyhttp://en.wikipedia.org/wiki/Industrial_Revolutionhttp://en.wikipedia.org/wiki/Industrial_Revolutionhttp://en.wikipedia.org/wiki/Economic_developmenthttp://en.wikipedia.org/wiki/Technological_changehttp://en.wikipedia.org/wiki/Economic_growth

AEAweb: Fields


the development of economies often focus on third world countries. Why have some countriesdeveloped while others have not? How might the industrialized countries improve the prospects fordevelopment around the world? Who gains and who loses with industrialization?

P. Economic Systems -- Analysts compare the capital market system to the various forms ofsocialism and the transition from centrally planned to more market-based economic systems.Economists sometimes address issues in specific countries like China, Cuba, and Poland.

Q. Agricultural and Natural Resource Economics, Environmental and Ecological Economics --Economists study farming, fishery, and forests with a focus on prices, markets, and changingtechnologies. Natural resource economists study markets for energy (oil, coal, and electricity) andmineral resources. Economists have played an important role in the evolution of policies to promoteclean air, water, and land. Economists model how global climate change and policies designed toreduce its effects will affect the economy.

R. Urban, Rural, and Regional Economics -- Economists analyze the location decisions ofhouseholds and firms and the associated issues in housing, transportation, and local government.

Y. Miscellaneous Categories -- Data, dissertations, and book reviews are classified here.

Z. Other Special Topics -- Other special topics include the economics of the arts, religion, andculture.

Each major field defined in the JEL has several subfields. Search for the field and subfield terms inWikipedia and Google for more information about each.

Economists add to our collective knowledge by publishing new work in each of the fields above asexplained in the finding facts & ideas page. Some of the latest work addresses issues of significantcurrent interest.

| A E A | J o u r n a l s | A n n u a l M e e t i n g s | E c o n L i t | J O E | R F E | M e m b e r s |

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AEAweb: Careers

https://www.aeaweb.org/students/Careers.php[1/30/2015 2:29:51 PM]

Careers

What careers follow the economics baccalaureate?

Economics majors are successful in a wide variety of careers. Althoughvarious roles in businesses are most common, economics majors aresuccessful in law, medicine, government, non-profits, and internationalrelations, as well as in academic roles.

Career EarningsOne way to think about career opportunities is to consider the level ofearnings typically found with different levels and kinds of education indifferent careers.

The Corporate World & the MBAMost economics majors pursue employment in the private sector.Graduates in economics succeed in many occupations. Some studentsplan to earn the Masters of Business Administration (MBA) degree intime. Others find employment with the BA is sufficient to fulfill theiraspirations.

Economic ConsultingSome economists with BA degrees find employment as research associates with economic consultingfirms. Consultants advise firms on business strategies, prepare economic evidence for court cases, anddevelop analyses to influence public policy.

Law and Other ProfessionsLaw school is also a common destination for recent graduates in economics. The careful reasoning ineconomics is a good fit for law and many careers in the law influence significant economic decisions forfirms.

Government and Not-for-profitsSome students enter government service or choose jobs with non-profit entities. Governments at everylevel hire economists for their facility with statistics and analysis.

Professors, Teachers and Researchers of EconomicsSome graduates in economics are interested in academic careers. They are drawn by the love of thestudy of economics and the prospect of teaching and writing about economics as a career.

Career Earnings

The US Bureau of Labor Statistics, Occupational Outlook Handbook (online in 2014) reports annualwages for economists in 2010. For economists of all educational levels, the median earnings in 2010were $89,450 with $48,250 at the tenth percentile and $155,490 at the 90th percentile. Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2013-14Edition, Economists, on the Internet at http://www.bls.gov/ooh/life-physical-and-social-science/economists.htm (visited July 8, 2014).

Median Annual Wages for Economists in May 2012 in the Top Five Industries EmployingEconomists(from the Occupation Outlook Handbook)

Finance and insurance $110,580

Federal government, excluding postal service $106,850

Scientific research and development services $94,630

Management, scientific, and technical consulting services $91,570

State and local government, excluding education andhospitals

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Payscale.com reports its survey of people with Baccalaureate degrees (and no more) who are employedfull time, showing starting salaries (typically with two-years of experience) and mid-career annualearnings. Here are selected occupations for the 2012-13 report.

College Major Starting Salary Mid-career Salary

Chemical Engineering $67,500 $111,000

Applied Mathematics $50,800 $102,000

Statistics $49,300 $99,500

Economics $48,500 $94,900

Mathematics $48,500 $85,800

Finance $47,700 $85,400

Business $41,400 $70,000

Political Science $40,300 $74,700

Advertising $37,800 $77,100

Sociology $36,000 $56,700

Psychology $35,200 $60,200

Source: http://www.payscale.com/college-salary-report-2013/majors-that-pay-you-back

Median earnings of economists by highest level of degree for persons of all ages observed in2010 are given in the table below by gender.

Highest Degree Women MenBA $38,000 $42,000MA $45,000 $38,000PhD $90,000 $100,500

Source: National Survey of Recent College Graduates, https://sestat.nsf.gov/sestat/sestat.html[Viewed 2013].

Earnings Differentials for Economics Majors

Thomas Carroll, Djeto Assane, and Jared Busker use a large national sample from the AmericanCommunity Survey developed by the Bureau of the Census with observations from 2009 to 2012 toestimate earnings differentials for economics majors compared to other college majors. The tablebelow reports the estimated differential for economics majors compared to non-economics majors, onaverage, when the statistical estimate adjusts for personal characteristics (age, ethnicity, citizenship,and English proficiency).

Percentage Earnings Advantage of Economics Majors by Highest Degree Completed

Adjusting for Personal Characteristics.

Highest Degree Male FemaleBA 14.1 18.0MA 31.6 24.5Professional 5.6 20.8

http://www.payscale.com/college-salary-report-2013/majors-that-pay-you-backhttps://sestat.nsf.gov/sestat/sestat.html

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PhD 18.9 29.5

Source: Thomas Carroll, Djeto Assane, and Jared Busker, “Why it Pays to Major in Economics,” Journalof Economics Education, 45:3, (2014) pp. 251-261. Table 3.

The BA row reports the average percentage earnings differential for men and women whose highestdegree is a baccalaureate. The MA row reports the differential for those with masters degrees in anyfield. The Professional row reports differentials for those who highest degree is an MBA or law degree. The PhD row reports differentials for people who earned academic doctorates in any field.

The analysis also reports differentials while adjusting for occupational choice (not shown here). Thedifferentials show above fall by about half with adjustments for occupation. The implication is thatabout half of the differential show above is accounted for by occupation. That is to say, about half ofthe payoff from the economics major is in access to better paying occupations and about half, givenoccupation. Differences by location have little effect.

Geographic Difference in Earnings

Winters and Xu also use the American Community Survey (2009-2010) to estimate earningsdifferentials for economics majors compared to non-economics by state and metropolitan area. Economics majors accounted for 2.28 percent of college graduates.

Economics majors have a higher earnings differential in densely populated, urban states like New York,Connecticut, California, New Jersey, Illinois, and Massachusetts. New York accounted for 3.99 percentof economics majors and showed an 889 percent earnings differential for economics majors comparedto all others with no other attributes of people or jobs taken into account. Among metropolitan areas,New York, San Francisco, Boston, Los Angeles, and Chicago show high differentials.

Source: John V. Winters and Weineng Xu, “Geographic Differences in the Earnings of EconomicsMajors,” IZA Discussion Paper # 7584, Forschunginstitut zur Zukunft der it, (2013) http://hdl.handle.net/10419/89939

Stability of Earnings and Employment

The Hamilton Project at the Brookings Institution provides an interactive summary of life-timeearnings for people with different college majors. Jordan Weissman compares economics to otherdisciplines at “Want to Be Stinking Rich? Major in Economics,” Slate. The first figure below shows the median earnings by years into a career for all BAs in a given major who are employed full-timeincluding those with any subsequent graduate degree. The blue line at the bottom shows medianearnings for all holders of BA degrees. The green line shows economics and the orange shows financemajors. The purple line at the top shows electrical engineers. The economics major starts just abovethe finance major but shows a stronger trajectory, briefly topping the electrical engineers at about 15years in the career but does not sustain the level of the engineers in the last two decades of thecareer.

The figure on Lifetime Earnings below reports the total lifetime earnings on the vertical axis (in termsof present value) with the percentage distribution from the lowest earnings to the highest along thehorizontal axis. At the 50th percentile, the figure below shows the total for each of the four lines in thefigure just above. Although all four groups show a substantial flip up among those in the top tenpercent—income distributions are usually skewed right as indicated by the flip here—the economics

http://hdl.handle.net/10419/89939http://hamiltonproject.org/earnings_by_major/http://www.slate.com/blogs/moneybox/2014/09/29/lifetime_earnings_by_college_major_why_economics_grads_make_bank.html

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major has the largest flip. The economics major exceeds the electrical engineers at about the 65thpercentile and widens the gap particularly with engineering but also with finance up to the highestearnings. The economics major then shows a wider dispersion of earnings but with a much longer righttail, that is, a high probability of very high earnings than the other majors.

During recessions, economics majors and other high-earning majors show more advantage relative tomajors with lower average earnings. (See Joseph G. Altonji, Lisa B. Kahn, and Jamin D. Speer, “Cashieror Consultant? Entry Labor Market Conditions, Field of Study, and Career Success,” Unpublished essay.The essay is reported by Claire Cain Miller, “A College Major Matters Even More in a Recession,” NewYork Times Upshot, June 20, 2014. Although most occupations show lower earnings in recessions,those involving college degrees show a lower loss.Economics yields better relative outcomes inrecessions.

Mid-Career Earnings

The Center on Education and the Workforce at Georgetown University reports the median earnings ofadults working full-time for a full-year whose education stopped with the bachelor’s degree using datafrom the 2010 Census. The table below is a subset of a report of 173 majors published on the WallStreet Journal website at http://graphicsweb.wsj.com/documents/NILF1111/#term “From CollegeMajor to Career”, October 24, 2013. The median earnings of economics majors is 32nd among all 173majors.

The fifteen majors reported below are those with the highest median earnings among the 50 mostpopular majors. Economics is in ninth place in median earnings in this group. The table reports thepercentage of the majors who are unemployed, the earnings at the 25th percentile (Q1), the median,and at the 75th percentile (Q3). Economics has the widest dispersion between Q1 and Q3 withFinance in second place.

Major Field Unemployment % Q1 Median Q3

ELECTRICAL ENGINEERING 5.00% $60,000 $86,000 $111,000

CHEMICAL ENGINEERING 3.80% $60,000 $86,000 $117,000

MECHANICAL ENGINEERING 3.80% $60,000 $81,000 $106,000

COMPUTER ENGINEERING 7.00% $58,000 $81,000 $102,000

COMPUTER SCIENCE 5.60% $50,000 $77,000 $102,000

CIVIL ENGINEERING 4.90% $55,000 $76,000 $101,000

GENERAL ENGINEERING 5.90% $47,000 $73,000 $101,000

http://som.yale.edu/sites/default/files/files/AltonjiKahnSpeer9_16_13.pdfhttp://som.yale.edu/sites/default/files/files/AltonjiKahnSpeer9_16_13.pdfhttp://www.nytimes.com/2014/06/21/upshot/a-college-major-matters-even-more-in-a-recession.html?abt=0002&abg=0]http://graphicsweb.wsj.com/documents/NILF1111/#term

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MANAGEMENT INFORMATIONSYSTEMSAND STATISTICS

4.20% $47,000 $71,000 $96,000

ECONOMICS 6.30% $42,000 $69,000 $108,000

FINANCE 4.50% $44,000 $65,000 $101,000

MATHEMATICS 5.00% $42,000 $63,000 $95,000

COMPUTER AND INFORMATIONSYSTEMS

5.60% $44,000 $62,000 $86,000

TREATMENT THERAPYPROFESSIONS

2.60% $40,000 $62,000 $81,000

ACCOUNTING 5.40% $41,000 $61,000 $94,000

NURSING 2.20% $48,000 $60,000 $80,000

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Corporate World & The MBA

Although the economics major does not provide training for specific occupations, it provides the logicalstructure that pays off in understanding the big picture, the context for entering several fields in thecorporate world. Its emphasis on logical thought and problem solving skills has universal value. Manyemployers seek to hire graduates with these skills.

Some students aspire to earn Master of Business Administration (MBA) degrees, typically expecting tocomplete a two-year program in a graduate business school. Leading MBA programs expect applicantsto have had several years of significant business experience before enrolling. The average age ofstudents entering top MBA programs is 27 years. Bloomberg Business Week (search for MBA) providesan online guide to MBA programs as does Peterson’s, BusinessDegreeOnline, and a number of others.

The better MBA programs give some preference in admission to applicants with technical backgroundsincluding engineering, physics & math, and economics. Some areas of study in business like finance usea significant amount of mathematics. Undergraduate study in business then is not a primary or evennecessarily a desirable path to an MBA. Of course, people who have developed their own successfulbusinesses or enjoyed considerable success in other ways also tend to be attractive to MBA recruiters.The schools value success in many forms.

Students intent on careers as managers often seek a strong, general education. They want to learneffective communication skills, to develop habits of logical thought, and to practice their problemsolving skills. Many undergraduate programs do this well; economics is often particularly effective.

In addition to careers as general managers and entrepreneurs, economics majors also often pursuecareers in specific occupations common to the corporate world. Economics majors with the BA degreefind jobs in the financial world, in marketing, and consulting. Some pursue one-year post baccalaureateprograms for entry into a target career. The Master of Accountancy (MAc), for example, will launch anaccounting career and go a long way toward completion of requirements for the Certified PublicAccountant title.

Students who have a specific occupational goal will often do well in enrolling in a program of trainingspecific for that occupation. For example, accounting majors readily get jobs as accountants oncompleting a BA. Finance majors have a good chance of being employed as financial analysts or budgetofficers. The broader horizons of the economics major are certainly not for everyone.

http://bwnt.businessweek.com/ft_mbasearch/http://www.petersons.com/mba/code/search.asp?&path=gr.fas.mba&sponsor=1http://www.businessdegreeonline.com/

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Economic Consulting

Economics graduates with good analytic and communication skills find employment with consultingfirms. McKinsey & Company, Boston Consulting Group, Bain & Company, Accenture, Charles RiversAssociates, Mathematica Policy Research, and NERA Economic Consulting are examples. Analysts withconsulting firms often work with data, develop models of specific markets, and provide testimony inpublic hearings and in lawsuits. Many graduates find that a few years experience with a consulting firmis a good lead into an MBA, law program, or graduate study in economics. Many consulting firms inviteapplication for employment through their websites.

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Law and Other Professions

The economics major is one of many common paths to law school. The Law School Admission Councilprovides the official guide to law schools for the American Bar Association. The Guide emphasizesextensive reading and library research, skill in synthesizing large amounts of information, and logicalthinking. In addition to general skills, the Guide points to breadth of knowledge of history, politics,finance, human behavior, and diverse cultures.

Many careers in law involve shaping economic decisions. Writing and interpreting contracts, supportingmergers and acquisitions, dealing with the tax system, addressing disputes of workers, landlords, andvendors; all involve decisions with significant economic content and implications.

A recent analysis of scores on the LSAT test for law school admission reported for students who applyto at least one ABA accredited law school shows economic majors earned relatively high mean LSATscores as shown in table 2. The LSAT score ranges from 120 to 180 with mean and median near 151.The first quartile is near 144 and the third quartile is near 157; the 90th percentile is about 165. TheLSAT score along with undergraduate grade point average and the quality of the undergraduate collegeare important influences in the admissions decisions of competitive law schools.

Table 2: Average LSAT Scores by Major, 2012-13.

Rank Major Field AverageScore

No. ofStudents

1 Economics 159.1 2,468

2 Philosophy 158.8 1,879

3 Engineering 157.3 1,127

4 History 156.7 3,323

5 English 155.8 3,728

6 Finance 154.6 1,817

7 Political Science 154.3 12,215

8 Psychology 153.3 3,335

9 Accounting 153.1 1,106

10 Marketing 152.2 1,106

http://www.lsac.org/

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11 Liberal Arts 151.9 1,177

12 Communications 151.6 1,729

Source: Michael Nieswiadomy, "LSAT Scores of Economics Majors: The 2012-13 Class Update," Journalof Economic Education 45 #1, Jan 2014. Pp. 71-74 and “Law School Admission Test,” Wikipedia,viewed Sept. 2, 2014.

Among the six disciplines with more than 2,000 students taking the LSAT, the 2,468 economics majorsreceived the highest average score at 159.1 as shown in the table. Looking more broadly at groups ofsimilar majors with at least 325 takers in each group, economics ranked second behind physics/math(418 takers with mean 161.7) and just ahead of philosophy/religion (2,174 takers with mean 158.6).

Some economics majors enroll in medical and dental programs by adding enough science courses totheir undergraduate career to qualify for admission. Many undergraduate economics programs includecourses on health economics and students often report that the physicians like talking about economicpolicy issues when they interview applicants to their medical schools.

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Government and Not-for-profits

Governments at every level hire economists to manage and evaluate their operations. The Office ofPersonnel Management (OPM) of the Federal government provides information about Federalemployment opportunities. Their USAJobs site lists thousands of openings of all kinds in many locationsacross the country. Search on "economist" to find information about specific current opportunities.There are often openings for economists with BA, MA, and PhD degrees.

The OPM website also gives general information about Federal pay scales. BA economists with littleexperience are (to simplify a bit) at grade GS-7, with MAs at GS-9, and new PhDs start at GS-12.Although pay does differ with the cost of living in different locations, BA economists started at $31,209or above in 2006.

The Federal Reserve Board and its affiliated regional Federal Reserve Banks also hire economists andresearch assistants at various levels of education. Skill with statistics and in managing data will behelpful for many entry jobs.

Economists are valued in the Foreign Service and civil service in the State Department, and as analystswith the Central Intelligence Agency.

State governments have similar websites that list public service jobs with pay scales and applicationprocedures. Searching the Internet for "state employment" will usually yield an appropriate link.

International agencies of many kinds hire economists for a variety of roles. Additional languages,strong communication skills, experience with diverse cultures, and statistical skills are often important.The World Bank, for example, offers jobs for economists. The Bank has an internship program as well.

One way to learn about employment with non-profits is to go to the Idealist website and look for rolesin economic development or other areas of interest.

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Professors, Teachers and Researchers of Economics

The Doctor of Philosophy degree (PhD) in economics is necessary for a faculty position in economics atmost four-year colleges in the US. A masters degree is the typical credential for faculty at two-yearcolleges. Although some students complete masters programs before entering PhD programs, many godirectly from BA programs into PhD programs. Completion of a PhD requires about six years of full-time study. See the AEA website for information about graduate study. Holders of the Ph.D. often alsochoose research careers outside of academics, including roles at the Federal Reserve, internationalagencies, and government policy and evaluation departments as well as in private banks, investmenthouses, and other for-profit ventures

http://www.opm.gov/index.asphttp://www.opm.gov/index.asphttp://www.usajobs.gov/http://www.opm.gov/policy-data-oversight/pay-leave/pay-systems/general-schedule/http://www.federalreserve.gov/careers/analysts.htmhttp://www.careers.state.gov/https://www.cia.gov/careers/index.htmlhttp://web.worldbank.org/WBSITE/EXTERNAL/EXTHRJOBS/0,,contentMDK:20522507~menuPK:64262360~pagePK:64262408~piPK:64262191~theSitePK:1058433,00.htmlhttp://www.idealist.org/https://www.aeaweb.org/gradstudents/index.php

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