Economics

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ECONOMICS STUDENT SERVICES
245 Sequoyah Hall
http://economics.ucsd.edu

All courses, faculty listings, and curricular and degree requirements described herein are subject to change or deletion without notice. Updates may be found on the Academic Senate website: http://senate.ucsd.edu/catalog-copy/approved-updates/.

Introduction

Economics is the study of how individuals, organizations, and societies deal with scarcity—the fact that resources are not sufficient to satisfy everyone’s wants. Because scarcity requires choice among alternative uses of resources, economists study both the technology by which resources are turned into the products people want and the preferences through which people choose among alternatives. Further, since society is composed of many individuals and groups, economists study markets, governments, and other institutions through which a society might gain the advantages of cooperation and resolve the conflicts due to competing goals. The economics curriculum develops tools and uses them to analyze a wide range of societal problems, and also to study the role of the government in solving these problems.

Economics is a different discipline from business administration. However, there are substantial overlaps. Both disciplines study the behavior of people and firms within the context of market, legal, and other institutions. In evaluating economic institutions, economists tend to emphasize the viewpoint of the larger society, and business scholars tend to emphasize the viewpoint of firms.

Information on the undergraduate program can be found on the undergraduate program’s website at http://economics.ucsd.edu/ugrad/index.php. The website contains answers to frequently asked questions, gives practical tips for avoiding problems, and provides a more detailed discussion of the department’s majors than is possible in the general catalog. It is important for students contemplating a major in the department to be familiar with the website and the prerequisite requirements listed therein. Students communicate with undergraduate advisers in the department either through in-person walk-in advising sessions, or through the Virtual Advising Center (VAC). VAC (vac.ucsd.edu) documents student questions and department responses. It also authenticates student identity and protects student information. Students must use their UC San Diego e-mail address to send and receive messages in VAC.

The Department of Economics hosts EconUGBlog (http://econugblog.wordpress.com/) to provide information to undergraduate students about events, jobs, and internship opportunities related to economics.  

Students interested in studying abroad are encouraged to go the Programs Abroad Office (PAO) or to their website: http://programsabroad.ucsd.edu for more information.

Transfer students should see the department website at http://economics.ucsd.edu/ugrad/ugradTransStudInfo/index.php.

The Undergraduate Program

Lower-Division Economics Courses

Microeconomics and Macroeconomics—Econ 1-2-3

The department offers three lower-division economics classes, Econ 1-2-3. Econ 1 is an introduction to the study of the economic system from the micro, or individual decision maker’s perspective. The focus of Econ 1 is the allocation of resources and the distribution of income in perfectly competitive markets. Econ 2 is a continuation of the study of microeconomics with a focus on the allocation of resources in monopoly and other imperfectly competitive markets, market imperfections, and the role of government in markets. Econ 3 introduces macroeconomics: unemployment, inflation, business cycles, and monetary and fiscal policy. Econ 1 is a prerequisite for both Econ 2 and Econ 3. Econ 2 and Econ 3 can be taken in any order and may be taken concurrently.

Accounting Course

The department offers an accounting course, Econ 4. Econ 4 is a lower-division requirement for the BS in management science and the management science minor. Econ 4 is cross-listed with MGT 4. Students will not receive credit for Econ 4 if taken after MGT 4.

Upper-Division Economics Core Courses

The upper-division economics and management science core courses are expected to be offered according to the following academic schedule:

Fall—100A-B-C, 110A, 120A-B-C, 171, 172A, and 173A

Winter—100A-B-C, 110A-B, 120A-B-C, 172A-B, and 173A-B

Spring—100A-B-C, 110B, 120A-B-C, 171, 172B, and 173B

The 100, 110, 120, 172, and 173 core courses are sequential. That is, A must be taken before B, and when applicable, B before C.

Entry to the Majors

Any student in good standing may declare a major in the department. To declare a major, you must use the Major/Minor tool on TritonLink. The major codes are as follows: Economics, EN 25; Management Science, EN 26; and Joint Mathematics-Economics, EN 28.

The Economics Major (BA)

The economics BA program is designed to provide a broad understanding of resource-allocation and income-determination mechanisms. Both the development of the tools of economic analysis and their application to contemporary problems and public policy are stressed.

When choosing which mathematics series to take, Math 10A-B-C or Math 20A-B-C, it is important to remember that only Math 20A-B-C allows students access to Math 20F and several upper-division Math courses that are recommended as preparation for PhD study in economics and business administration, as well as for graduate studies for professional management degrees, including the MBA. Therefore, while we require economics majors to take Math 10A-B-C, we recommend that economics students take Math 20A-B-C.

A student majoring in economics must meet the following requirements:

  1. Lower-division mathematics courses. Math 10A-B-C (required) or Math 20A-B-C (recommended).
  2. Lower-division economics courses. Econ 1 and Econ 3.
  3. Upper-division economics core courses. Econ 100A-B-C (microeconomics), Econ 110A-B (macroeconomics), and Econ 120A-B-C (econometrics).
  4. Upper-division economics electives. Five more economics courses at the upper-division level. At least two of these elective courses must be “advanced electives.” The economics advanced electives are

    Econ 103. International Monetary Relations

    Econ 104. Economics of Network Industries

    Econ 105. Industrial Organization and Firm Strategy

    Econ 109. Game Theory

    Econ 113. Mathematical Economics

    Econ 121. Applied Econometrics

    Econ 125. Demographic Analysis and Forecasting

    Econ 136. Human Resources

    Econ 141. Economics of Health Consumers

    Econ 142. Behavioral Economics

    Econ 143. Experimental Economics

    Econ 146. Economic Stabilization

    Econ 147. Economics of Education

    Econ 150. Public Economics: Taxation

    Econ 151. Public Economics: Expenditures I

    Econ 152. Public Economics: Expenditures II

    Econ 155. Political Economics

    Econ 166. Economics of Southeast Asia

    Econ 171. Decisions Under Uncertainty

    Econ 172A. Operations Research A

    Econ 172B. Operations Research B

    Econ 173A. Financial Markets

    Econ 173B. Corporate Finance

    Econ 174. Financial Risk Management

    Econ 176. Marketing

    Econ 177L. Applied Management Laboratory

    Econ 178. Economic and Business Forecasting

    Math 194. The Mathematics of Finance (refer to course description for enforced prerequisite list)

  5. Note that the prerequisites for advanced economics electives are completion of core courses. Therefore, economics majors are strongly encouraged to take Econ 100A-B-C and Econ 120A-B-C in their sophomore year. Please check course descriptions for exact prerequisites.

The following schedule, though not the only possibility, is a well-constructed one for majoring in economics.

FRESHMAN YEAR

Econ 1 and Econ 3
Math 10A-B-C (required) or
Math 20A-B-C (recommended)

SOPHOMORE YEAR

Econ 100A-B-C
Econ 120A-B-C

JUNIOR YEAR

Econ 110A-B
Economics Electives

SENIOR YEAR

Economics Electives

A detailed description of the economics major is available in the Undergraduate Program section of the department website at http://economics.ucsd.edu/ugrad/index.php.

The Management Science Major (BSc)

Management science builds on a set of related quantitative methods commonly used to solve problems arising in the private (business and finance) and public (government) sectors. While students will gain some familiarity with the traditional functional fields of business management, this program is more tightly focused and more quantitative than a traditional business administration major. It is not, however, a program in applied mathematics or operational research, since the economic interpretation and application of the tools are continually stressed. Rather, it is a quantitative major in applied economics with a management focus.

A student majoring in management science must meet the following requirements:

  1. Lower-division mathematics courses. Math 20A-B-C and Math 20F.
  2. Lower-division economics courses. Econ 1, Econ 3, and Econ 4.
  3. Upper-division economics core courses. Econ 100A-B-C (microeconomics), Econ 120A-B-C (econometrics), Econ 171 (decisions under uncertainty), Econ 172A-B (operations research) and Econ 173A-B (finance).
  4. Upper-division economics electives. Four more economics courses at the upper-division level. At least two of these elective courses must be “advanced electives.” The management science advanced electives are

    Econ 103. International Monetary Relations

    Econ 104. Economics of Network Industries

    Econ 105. Industrial Organization and Firm Strategy

    Econ 109. Game Theory

    Econ 113. Mathematical Economics

    Econ 121. Applied Econometrics

    Econ 125. Demographic Analysis and Forecasting

    Econ 150. Public Economics: Taxation

    Econ 151. Public Economics: Expenditures I

    Econ 152. Public Economics: Expenditures II

    Econ 155. Political Economics

    Econ 174. Financial Risk Management

    Econ 176. Marketing

    Econ 177L. Applied Management Laboratory

    Econ 178. Economic and Business Forecasting

    Math 194. The Mathematics of Finance (refer to course description for enforced prerequisite list)

Note that many of these advanced management science electives recommend 100C as a prerequisite for the class. In the fall quarter of 2010, 100C became a prerequisite for the advanced electives that currently only recommend 100C as a prerequisite. Therefore, management science majors are strongly encouraged to take Econ 100A-B-C and Econ 120A-B-C in their sophomore year.

The following schedule, though not the only possibility, is a well-constructed one for majoring in management science.

FRESHMAN YEAR

Econ 1 and Econ 3
Econ 4 or MGT 4
Math 20A-B-C

SOPHOMORE YEAR

Econ 100A-B-C
Econ 120A-B-C
Math 20F

JUNIOR YEAR

Econ 171
Econ 172A-B
Econ 173A-B
Economics Electives

SENIOR YEAR

Economics Electives

A detailed description of the management science http://economics.ucsd.edu/ugrad/index.php.

Joint Major in Mathematics and Economics (BSc)

This major is considered to be excellent preparation for the PhD study in economics and business administration, as well as for graduate studies for professional management degrees, including the MBA.

Majors in economics generally recognize the importance of mathematics to their discipline. Undergraduate students who plan to pursue doctoral study in economics or business need the more advanced mathematics training prescribed in this major. Majors in mathematics often feel the need for a more formal introduction to issues involving business applications of science and mathematics. Extending their studies into economics provides this application and can provide a bridge to successful careers or advanced study. This major provides a formal framework making it easier to combine study in economics and mathematics.

Course requirements of the joint major in mathematics and economics consist principally of the required courses of the mathematics major and the economics/management science majors:

Lower-Division Requirements

  1. One of the following sequences:
    1. Calculus and Linear Algebra. Math 20A-B-C-D and 20F
    2. Honors Calculus. Math 31AH-BH, Math 20D
  2. Introductory economics. Econ 1 and Econ 3

Upper-Division Requirements

Fifteen upper-division courses in mathematics and economics, with a minimum of seven courses from one department and eight from the other department, chosen from the courses listed below (prerequisites are strictly enforced):

  1. Mathematical Reasoning. Math 109 (Note: Students completing Math 31CH may substitute a four-unit upper-division Math elective for Math 109.)
  2. One of the following:
    1. Applied Linear Algebra. Math 102
    2. Numerical Linear Algebra. Math 170A
    3. Modern Algebra. Math 100A-B
  3. One of the following:
    1. Foundations of Analysis. Math 140A
    2. Advanced Calculus. Math 142A
  4. One of the following:
    1. Ordinary Differential Equations. Math 130A
    2. Foundations of Analysis. Math 140B
    3. Advanced Calculus. Math 142B
  5. Microeconomics. Econ 100A-B-C
  6. Econometrics/Statistics. One of the following:
    1. Econ 120A-B-C
    2. Math 180A and Econ 120B-C
    3. Math 180A and 181A-B and Econ 120C
  7. One of the following:
    1. Macroeconomics. Econ 110A-B
    2. Mathematical Programming: Numerical Optimization. Mathematics 171A-B
    3. Introduction to Operations Research. Econ 172A-B
    4. Decisions Under Uncertainty. Econ 171 and Introduction to Operations Research. Econ 172A

When choosing across the Math 140 or the Math 142 series, it is recommended that students take Math 142. Other courses that are strongly recommended are Math 130B, 131, 181B, 190, and 193A-B and Econ 109, 113, 173A-B, 174, and 178.

Further information may be obtained in the mathematics and economics undergraduate advising offices.

Honors

Economics Majors

To graduate with the phrase “with distinction” on your diploma, you must complete two additional advanced electives (for a total of seven electives, four of which are advanced). You must also have an upper-division GPA in your major greater than or equal to 3.5. The upper-division major GPA will only include grades for courses taken at universities in the UC system and through EAP.

To graduate with the phrase “with highest distinction” on your diploma, you must complete two additional advanced electives (for a total of seven electives, four of which are advanced), take the honors sections of at least two upper-division courses (Econ 100AH-BH-CH, Econ 110AH-BH, and Econ 120AH-BH-CH), and take the Senior Essay Seminar (Econ 191A-B). You must also have an upper-division GPA in your major greater than or equal to 3.5. The major GPA in your honors sections and Econ 191A-B must be 3.5 or above. Admission to honors sections and Econ 191A-B is by special permission; check with the undergraduate advisers in the Economics Student Services Office.

Management Science Majors

To graduate with the phrase “with distinction” on your diploma, you must have an upper-division GPA in your major greater than or equal to 3.5. The upper-division major GPA will only include grades for courses taken at universities in the UC system and through EAP.

To graduate with the phrase “with highest distinction” on your diploma, you must complete the honors sections of at least two upper-division courses (Econ 100AH-BH-CH or Econ 120AH-BH-CH), and take the Senior Essay Seminar (Econ 191A-B). You must also have an upper-division GPA in your major greater than or equal to 3.5. The major GPA in your honors sections and Econ 191A-B must be 3.5 or above. Admission to honors sections and Econ 191A-B is by special permission; check with the undergraduate advisers in the Economics Student Services Office.

Joint Mathematics/Economics Majors

To graduate with honors requires the following:

  1. At least one quarter of the Student Colloquium, Math 196. (Note: Math 196 is only offered in the fall quarter.)
  2. At least one Economics honors course: Econ 100AH, 100BH, 100CH, 110AH, 110BH, 120AH, 120BH, 120CH. (Note: enrollment in these honors classes is by special permission; check with the undergraduate advisers in the Economics Student Services Office, SH 245.)
  3. An honors thesis. The research and writing of the thesis will be conducted over two quarters of the senior year under the supervision of a faculty adviser. The completed thesis must be approved by the Joint Mathematics and Economics Honors Committee, which comprises the Mathematics Honors Committee and the Economics Honors Committee, and presented orally at the Undergraduate Research Conference or another appropriate occasion.
    1. If the student is a declared major in the mathematics department (MA33), this thesis will be credited as eight units of Math 199H. Enrollment in Math 199H is by special permission; check with the advisers in the mathematics department Undergraduate Affairs Office, AP&M 7018, or the Mathematics Advising Office, AP&M 6016.
    2. If the student is a declared major in the economics department (EN28), the student must enroll in Econ 191A-B. Enrollment in Econ 191 is by special permission; check with the undergraduate advisers in the Economics Student Services Office, SH 245.
  4. A minimum GPA of 3.0 overall, 3.5 in the upper-division courses required for the major and a 3.5 in the following four classes: Math 196, Economics Honors class, and either Econ 191A-B or two quarters of Math 199H.

The Joint Mathematics and Economics Honors Committee will determine the level of honors to be awarded, based on the student’s GPA in the major and the quality of the honors work.

Grade Rules for Majors

All courses used in meeting requirements for a departmental major must be taken on a letter-grade basis, and must be passed with a grade of C– (C minus) or better. These rules apply to lower-division courses, upper-division courses, and to required courses taken from other departments (such as required mathematics courses). Exceptions are Econ 195, Econ 198, and Econ 199, for which P/NP grading is mandatory. No more than twelve units of Econ 195, Econ 198, and Econ 199 taken P/NP may be counted toward a major. Further, no more than eight units of Econ 195 may be counted toward a major.

Economics Department Residency Requirement

To receive a bachelor of arts degree in economics, no more than four upper-division courses taken externally from UC San Diego can be counted toward the major.

To receive a bachelor of science degree in management science, no more than six upper-division courses taken externally from UC San Diego can be counted toward the major.

To receive a bachelor of science degree in joint mathematics/economics, no more than three upper-division courses taken externally from UC San Diego can be counted toward the major.

Advanced Placement/AP, International Baccalaureate/IB and A-Level Exam Credits

Receiving a score of 5 on the AP Microeconomics Exam will give you credit for Econ 1.

Receiving a score of 5 on the AP Macroeconomics Exam will give you credit for Econ 3.

Receiving a score of 7 on the IB exam will give you credit for both Econ 1 and Econ 3.

Receiving the grade of A*(a*) on the A-Level Exam will give you credit for both Econ 1 and Econ 3.

Minors (Economics and Management Science)

The economics minor consists of eight courses: introductory microeconomics (Econ 1); microeconomic applications (Econ 2) or Econ 100A; introductory macroeconomics (Econ 3) or Econ 110A; and five additional upper-division economics courses, which are otherwise not restricted.

The management science minor, paralleling the economics minor, consists of nine courses: introductory microeconomics (Econ 1); microeconomic applications (Econ 2) or Econ 100A; introductory macroeconomics (Econ 3) or Econ 110A; financial accounting (Econ 4), and any additional five classes from the following list (Caution: all courses have prerequisites).

Econ 100A. Microeconomics A

Econ 100B. Microeconomics B

Econ 100C. Microeconomics C

Econ 120A. Econometrics A

Econ 120B. Econometrics B

Econ 120C. Econometrics C

Econ 171. Decisions Under Uncertainty

Econ 172A. Operations Research A

Econ 172B. Operations Research B

Econ 173A. Financial Markets

Econ 173B. Corporate Finance

Econ 174. Financial Risk Management

Econ 176. Marketing

Econ 178. Economic and Business Forecasting

Grades of P/NP are acceptable for minor courses. If courses are taken for a letter grade, passing is considered with a C– (C minus) or better. To declare a minor, you must use the Major/Minor tool on TritonLink.