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Undergraduate Bulletin 2006-2007
Bulletin Homepage |College of Arts & Sciences | Bulletin Information

Department of Economics


Distinguished Professor

Kajal Lahiri, Ph.D.
University of Rochester

Professors Emeritae/i

Jean Auclair, Ph.D.
University of Lille (France)

Melvin K. Bers, Ph.D.
University of California, Berkeley

Jack E. Gelfand, Ph.D.
New York University

Pong S. Lee, Ph.D.
Yale University

Richard J. Kalish, Ph.D.
University of Colorado

Donald J. Reeb, Ph.D. (Collins Fellow)
Syracuse University

Edward F. Renshaw, Ph.D.
University of Chicago


Betty C. Daniel, Ph.D.
University of North Carolina

Michael Jerison, Ph.D. (Department Chair)
University of Wisconsin

Terrence W. Kinal, Ph.D.
University of Minnesota

Hamilton Lankford, Ph.D.
University of North Carolina, Chapel Hill

Irene Lurie, Ph.D.
University of California, Berkeley

Michael J. Sattinger, Ph.D.
Carnegie Mellon University

Hany A. Shawky, Ph.D.
Ohio State University

Jogindar S. Uppal, Ph.D.
University of Minnesota

James H. Wyckoff, Ph.D.
University of North Carolina, Chapel Hill

Kwan Koo Yun, Ph.D.
Stanford University

Associate Professors

Diane M. Dewar, Ph.D.
University at Albany

Bruce C. Dieffenbach, Ph.D.
Harvard University

John B. Jones, Ph.D.
University of Wisconsin, Madison

Laurence J. Kranich, Ph.D.
University of Rochester

Gerald Marschke, Ph.D.
University of Chicago

Adrian Masters, Ph.D.
University of Pennsylvania

Thad W. Mirer, Ph.D.
Yale University

Assistant Professors

Kenneth R. Beauchemin, Ph.D.
University of Iowa

Stacey Chen, Ph.D.
University of Rochester

Illong Kwon, Ph.D.
Harvard University

Nadav Levy, Ph.D.
Northwestern University

George Monokroussos, Ph.D.
University of California, San Diego

Ozgen Sayginsoy, Ph.D.
Cornell University

Fang Yang, Ph.D.
University of Minnesota

Rui Zhao, Ph.D.
University of Minnesota

Adjuncts (estimated): 16
Teaching Assistants (estimated): 5

The major in economics is useful as training for employment in business, government, and nonprofit agencies and as preparation for further study at the graduate level. It is also an excellent undergraduate background for study in professional schools of law, accounting, business administration, public administration, public policy, social work, and others. The department also offers the M.A. and Ph.D. degrees in economics.


Graduates of the undergraduate economics program work as financial analysts, finance and credit officers for insurance companies and banks, economic analysts for corporations, policy and legislative fiscal analysts, and business officers for nonprofit and government organizations, as well as administrators and heads of businesses and government agencies.


Students may not declare a major in economics until they have completed both A Eco 110 and 111 with grades of C or better. For exceptional circumstances, students who do not meet these requirements may appeal by written petition to the department chair. Appeals received by the first day of classes each semester will be evaluated before the final date for adding semester-length courses.

Transfer students who have not completed both A Eco 110 and 111, or their equivalents, with grades of C or better will not be formally admitted to the major when they enter the University. Transfer students who are not admitted, but who want to major in economics, may declare their intention to major in economics and will be advised by the department as intended majors for one semester. After satisfying the admission criteria, students may be admitted to the major.

Degree Requirements for the Major in Economics

General Program

B.A.: A minimum of 36 credits as follows: A Eco 110, 111, 300, 301 and 320; A Eco 210 or A Mat 106, 111, 112 or 118; and 18 additional credits in economics at the 300 level or above. The courses A Eco 300, 301, and 320 must be taken at the University unless completed elsewhere prior to matriculation.

B.S.: A minimum of 40 credits as follows: A Eco 110, 111, 300, 301, 320, and 420 or 420Z; A Mat 111 or 112 or 118, A Eco 410 or A Mat 113 or 119; and 15 additional credits in economics at the 300 level or above, including at least 6 additional credits from among A Eco 400-489 or 499Z. The courses A Eco 300, 301, 320, 420 or 420Z, and at least 6 credits from among A Eco 400-489 or 499Z that fulfill the additional credits requirement above must be taken at the University unless completed elsewhere prior to matriculation.

Honors Program

The honors program is designed to provide capable and motivated students with a greater understanding of economics and to better prepare students for graduate and professional schools.

Students may apply to the honors program after completing any two of A Eco 300, 301, and 320. To be accepted and to complete the program, the student must have an average of at least 3.40 in all courses applicable to the major and 3.25 in all courses taken at the University. Interested students should see the departmentís Director of Undergraduate Studies even before completing the required courses, for advice on choosing elective courses and on meeting the other requirements of the honors program.

The honors student must complete all requirements of the B.S. program in economics, including A Eco 499Z (the Senior Honors Research Seminar) as part of the program. In addition, the honors student must submit a senior honors thesis acceptable to the Economics Honors Committee.

A plan for the senior honors thesis normally arises from consultation with faculty concerning a suitable topic and method of inquiry. The student, with advice and consent of the Economics Honors Committee, will choose a faculty adviser who will assist the student in completing the thesis. Work on the thesis may begin in the junior year, but it must be completed while the student is enrolled in A Eco 499Z.

If all requirements stated above are met, the department will recommend that the student be awarded the B.S. degree with honors in economics.

Combined Bachelorís/Masterís Programs

Combined programs leading to a bachelor's degree in Economics and a master's degree in Business Administration (M.B.A.), Public Administration (M.P.A.), or Health Policy and Management (M.S.) provide students of recognized academic ability and educational maturity the opportunity to fulfill integrated requirements for the undergraduate and graduate degrees. With careful planning, it is possible to earn both degrees in five years.

To qualify for the bachelor's degree (B.A. or B.S., as approved), students must meet all requirements for the undergraduate major and minor described previously, the minimum 90- or 60-credit liberal arts and sciences requirement, the general education requirements, and the residency requirements. To qualify for the master's degree (M.B.A., M.P.A., or M.S.), students must meet all requirements as outlined in the Graduate Bulletin including the completion of required graduate credits and any other conditions such as a research seminar, thesis, comprehensive examination, professional experience, and residence requirements. Up to 12 graduate credits may be applied simultaneously to the bachelor's and master's programs.

Students may be admitted to one of the combined degree programs at the beginning of their junior year, or after the successful completion of 56 credits. A grade point average of at least 3.3 (M.B.A.) or 3.2 (M.P.A. and M.S.) and three supportive letters of recommendation from faculty are required. Students interested in learning more about the programs should contact the Director of Undergraduate Studies in the Department of Economics.