¤ It is advised that you fulfill your Math requirement as early as possible.

¤ The Department recommends students take a full year of calculus, although this is not required. Students considering graduate work in economics should plan additional training (see: Mathematics Training for Students Interested in Economics .)

¤ To receive transfer credit for ECO 108 students must provide evidence of receiving a C or better in a college level course or courses covering both principles of microeconomics and macroeconomics.

¤ Students passing the International Baccalaureate degree at the "A"-level and above can place out of ECO 108.

¤ Students with AP credit in Economics may be allowed to place out of ECO 108. About using AP credit.

¤ At least one year of calculus (through MTH 143, 152, 162,172, or beyond)

¤ ECO 108 (must not be taken after any 200-level economics course; students may place out of ECO 108 and substitute a 200-level economics course)

¤ ECO 207H, 208, 209H, and 389, with a 3.3 average in these 4 courses.

¤ ECO 230 (Economic Statistics). Students may substitute STT 165 or MTH 203 as alternatives.

¤ ECO 231

¤ Three additional economics electives (200-level and above), except ECO 394; four if ECO 108 is not taken

¤ A "B" average for all the ECO courses taken

¤ Two allied field courses

¤ Fulfillment of the upper-level writing requirement .

¤ Students requesting transfer credit should obtain the catalogue, the course descriptions or the syllabus of the course they plan to take. These materials should be brought to the Undergraduate Coordinator in Harkness 238. 

¤ Economics courses at other institutions can transfer for elective credit only if they have a prerequisite of principles of economics.

¤ Washington Semester and British Politics Semester do not provide concentration credit in economics. However, economics courses taken in conjunction with these courses can provide transfer credit. Washington Semester and British Politics Semester may count as allied field courses.

¤ Summer courses offered by the Economics Department at the University of Rochester do not require transfer credit approval.

¤ Transfer credit for ECO 108 requires a course (or courses) that cover(s) both principles of Microeconomics and Macroeconomics.

¤ Students passing the International Baccalaureate degree at the "A"-level (or above) can receive placement out of 108, but not credit.

Advising

Each major in the Department of Economics has a faculty advisor. Faculty Advisors are available for consultation during weekday office hours and by arranged times. Advisors welcome the opportunity to answer questions concerning educational and career planning and how economics fits into both. Questions concerning specific college rules and regulations are probably most easily answered at the main department office of at the Center for Academic Support. The advisor schedule is available in Harkness 238 and on the web at: http://www.econ.rochester.edu/UG/ugadvising.html

Internships and Job Positions

          Current internships and job opportunities are posted on the bulletin board next to class homework boxes on           the second floor of Harkness Hall. The Career Center is also very helpful.

Undergraduate Economics Council

Undergraduate organization which sponsors a number of on campus events involving outside speakers and faculty. For more information see there website.  

Other Department Handouts (print copies available in Harkness 238):

• Citations of Special Achievement
• Independent Study in Economics
• Internships
• Minoring in Economics
• Preparing for Graduate School in Economics or Business
• Mathematics Training for Students Interested in Graduate Study in Economics
• Honors Degree in Economics

Stanley Engerman, Ph.D. Johns Hopkins, John Munro Professor of Economics and Professor of History (economic history, economics of sports) Time on the Cross: The Economics of American Negro Slavery (with Robert Fogel), 1974; "Slavery and Emancipation in Comparative Perspectives: A Look at Some Recent Debates," Journal of Economic History, 1986; Co-editor of three-volume The Cambridge Economic History of the United States, 1996, 2000; Co-editor of A Historical Guide to World Slavery , 1998; Co-editor of Slavery: A Reader, 2001.

Larry G. Epstein, Ph.D. University of British Columbia, Elmer B. Milliman Professor of Economics (mathematical economics, utility theory, economic theory), "Substitution, Risk, Aversion and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework",  (with S. Zin), Econometrica, 1989; "Intertemporal Asset Pricing Under Knightian Uncertainty," (with T. Wang), Econometrica , 1994; "A Definition of Uncertainty Aversion", Review of Economic Studies , 1999.

Jeremy Greenwood, Ph.D. Rochester, Professor of Economics (macroeconomics) "Investment, Capacity Utilization, and the Real Business Cycle," American Economic Review, 1988; "Financial Development, Growth, and the Distribution of Income," Journal of Political Economy , 1990; "1974," Carnegie-Rochester Conference Series on Public Policy 1997; "On the State of the Union," Journal of Political Economy , 2000.

Hugo A. Hopenhayn, Ph.D. Minnesota, Professor of Economics (industrial organization, microeconomic theory, dynamic competitive equilibrium theory, and growth) "Vintage Human Capital and the Diffusion of New Technology" (with V.V. Chari), Journal of Political Economy , 1991; "Entry and Exit in Long Run Equilibrium," Econometrica, 1992; "Stochastic Monotonicity and Stationary Distributions for Dynamic Economies" (with E.C. Prescott), Econometrica, 1992; "Job Turnover and Policy Evaluation:  A General Equilibrium Analysis" (with Richard Rogerson), Journal of Political Economy, 1993.

Ronald W. Jones, Ph.D. Massachusetts Institute of Technology, Xerox Professor of Economics; Chair, Department of Economics (international economics) International Trade: Essays in Theory , 1979; World Trade and Payments, An Introduction (with Richard E. Caves and Jeffrey A. Frankel), 8^th edition 1999; Globalization and the Theory of International Trade (MIT Press), 2000.

Per Krusell, Ph.D. Minnesota, Professor of Economics ; Director, Center for the Study of Economic Growth and Cycles (macroeconomics, growth theory, monetary economics, financial economics) "Money and Insurance in a Turnpike Environment" (with A. Hornstein), Economic Theory, 1993.

Lionel W. McKenzie, Ph.D. Princeton, Wilson Professor Emeritus of Economics (general equilibrium, capital theory) "The Classical Theorem on Existence of Competitive Equilibrium," Econometrica, 1981; "Turnpike Theory, Discounted Utility, and the von Neumann Facet, "Journal of Economic Theory, 1983; "General Equilibrium," The New Palgrave , 1987; "The Existence of Competitive Equilibrium over an Infinite Horizon with Production and General Consumption Sets" (with John H. Boyd III) International Economic Review, 1993; "Turnpikes", American Economic Review, 1998, Vol. 88, No. 2.

Walter Y. Oi, Ph.D. Chicago, Professor of Economics (labor economics, industrial organization) "Heterogeneous Firms and the Organization of Production," Journal of Economic Inquiry, 1983; "Fixed Employment Costs of Specialized Labor," Income and Wealth Conference on Labor Costs, 1983; "Productivity and the Distributive Trades," NBER Conference on Income and Wealth, 1993, ed. by Zvi Griliches.

Charles E. Phelps, Ph.D. Chicago, Provost (since 1994) and Professor of Political Science and of Economics  (microeconomics, health economics) "Information Diffusion and Best Practice Adoption," in Handbook of Health Economics, Volume 1, "The Economic Foundations of Cost-Effectiveness Analysis," (with Alan M. Garber, MD, PhD,) Journal of Health Economics 1997;  "Diffusion of Information in Medical Care," Journal of Economic Perspectives, 1992.

Werner Ploberger, Dr. techn, Vienna University of Technology 1981; Professor of Economics, (econometrics), "Testing for Structural Change in Dynamic Models" (with W. Krämer and R. Alt), Econometrica, Vol. 56, No.6, 1988, pp. 1355-1369. "A New Test for Structural Stability in the Linear Regression Model" (with W. Kraemer and K. Kontrus), Journal of Econometrics, vol. 40, 1989, pp. 307-318. "The CUSUM-Test with OLS-Residuals" (with W. Krämer), Econometrica , Vol. 60, No. 2, 1992, pp. 271-285, "Optimal Tests When a Nuisance Parameter is Present Only Under the Alternative" (with Don W.K. Andrews), Econometrica , Vol. 62, No. 6, 1994, pp.1383-1414; "An Asymptotic Theory of Bayesian Inference for Time Series", (with Peter C.B. Phillips), Econometrica Vol. 64, No.2, 1996, pp 381-412, "Asymptotic Theory of Integrated Conditional Moments Tests", (with Herman J. Bierens),  Econometrica, 1997, Vol. 65 No. 5, p. 1129-1145.

Charles Plosser, Ph.D. Chicago, Dean, William E. Simon Graduate School of Business Administration and Professor of Economics (macroeconomics, finance, econometrics) "Trends and Random Walks in Macroeconomic Time Series" (with Charles R. Nelson), Journal of Monetary Economics , 1982; "Real Business Cycles" (with John B. Long, Jr.), Journal of Political Economy, 1983; "Production, Growth and Business Cycles" (with R.G. King and S. Rebelo), Journal of Monetary Economics, 1988; "Understand Real Business Cycles," Journal of Economic Perspectives, 1989.

Alan Stockman, Ph.D. Chicago, Marie Curran Wilson and Joseph Chamberlain Wilson Professor of Economics (international economics, macroeconomics) "Sectoral and National Aggregate Disturbances to Industrial Output in Seven European Countries," Journal of Monetary Economics , 1988; "Exchange Controls, Capital Controls, and International Financial Markets" (with Alejandro Hernandez D.), American Economic Review , 1988; "Asset Markets, Tariffs, and Political Risk" (with Harris Dellas), Journal of International Economics, 1989; "Specialization, Transactions Technologies, and Money Growth" (with Harold Cole), International Economic Review , 1992.

William L. Thomson, Ph.D. Stanford, Professor of Economics (game theory, mechanism design, theory of equity) Axiomatic Theory of Bargaining with a Variable Population (with T. Lensberg), Cambridge University Press, 1989; "Consistent Allocation Rules" (with L. Zhou), Econometrica, 1993; "Population-Monotonic Solutions to the Problem of Fair Division when Preferences are Single-Peaked," Economic Theory , 1998; A Guide for the Young Economist (MIT Press), 2001.

John Duggan, Ph.D. California Institute of Technology, Associate Professor of Political Science and Economics (political economy, economic theory, game theory) "A Bargaining Model of Collective Choice" (with Jeff Banks), American Political Science Review , 2000; "A General Extension Theorem for Binary Relations", Journal of Economic Theory, 1999; "Virtual Bayesian Implementation", Econometrica, 1994.

Shakeeb Khan, Ph.D. Princeton, Associate Professor of Economics, (econometrics) "Two Stale Rank Estimation of Heteroscedastic Monotone Transformation Models," (Preprint 1997); "Two-Step Estimation of Semiparametric Censored Regression Models," (with J.L. Powell), (Preprint 1997); "Estimation of A Semilinear Censored Regression Model," (with S. Chen), (Preprint 1998); "Quantile Estimation of Non-Stationary Panel Data Censored Regression Models," (with S. Chen), (Preprint 1998); "Generaliz…. Full Rank Conditions in Heteroscedastic Censored Regression Models," (with S. Chen), (Preprint 1998).

Steven E. Landsburg, Ph.D. Chicago, Associate Professor of Economics (applied price theory, pure mathematics) The Armchair Economist, 1993; Price Theory and Applications, 5th edition 2001; Macroeconomics, forthcoming.

Irasema Alonso, Ph.D. Minnesota, Assistant Professor of Economics (monetary theory, banking theory, macroeconomics) "Truthful Revelation in the Diamond and Dybvig Banking Environment," Economics Letters , 1993; "On Avoiding Bank Runs," Journal of Monetary Economics , 1996.

Marine Carrasco, Ph.D. Toulouse (France), Assistant Professor of Economics (econometrics) "Generalization of GMM to a Continuum of Moment Conditions" (with Jean-Pierre Florens), Econometric Theory , 2000;  "Mixing and Moment Properties of Various GARCH and Stochastic Volatility Models" (with Xiaohong Chen), forthcoming in Econometric Theory ; "Misspecified Structural Change, Threshold and Markov-Switching Models", under review.

Gordon B. Dahl, Ph.D. Princeton, Assistant Professor of Economics (labor economics, applied microeconomics) "Mobility and the Return to Education: Testing a Roy Model with Multiple Markets," under review; "Does Where You Stand Depend on Where You Sit?: Tithing and Self-Serving Beliefs," American Economic Review, September 1999, pp. 703-727; "The Ten Percent Flat Tax: Tithing and the Definition of Income," Economic Inquiry, forthcoming.

Muhammet Fatih Guvenen, Ph.D. Carnegie Mellon, Assistant Professor of Economics, (macroeconomics, financial economics, applied econometrics), "Does Stockholding Provide Perfect Risk Sharing?"; working paper: "Mismeasurement of the Elasticity of Intertemporal Substitution:  The Role of Limited Stock Market Participation";  working paper: "Who Gains and Who Loses From A Stock Market Participation Boom?".

Michael Wolkoff, Ph.D. Michigan, Senior Lecturer in Economics and in Public Policy and Deputy Chair of the Department of Economics (public policy, economics) Housing New York: Policy Challenges and Opportunities (SUNY Press), 1990; "Are Economic Development Policy Decisions Rational?" Urban Affairs Quarterly, 1992; "School Performance and Housing Values," National Tax Journal, (with David Weimer), forthcoming.