{"success":true,"url":"https://www.clarku.edu/www-content/uploads/2018/07/undergrad_economics_handbook.pdf","title":"undergrad_economics_handbook.pdf","content":"# undergrad_economics_handbook.pdf\n## Metadata\n- PDFFormatVersion=1.5\n- Language=EN-US\n- IsLinearized=true\n- IsAcroFormPresent=false\n- IsXFAPresent=false\n- IsCollectionPresent=false\n- IsSignaturesPresent=false\n- Author=agibson\n- Custom.Company=University\n- Custom.SourceModified=D:20171010150339\n- CreationDate=D:20180411162341-04'00'\n- Creator=Acrobat PDFMaker 11 for Word\n- ModDate=D:20180413114010-04'00'\n- Producer=Adobe PDF Library 11.0\n- Title=INTRODUCTION TO THE STUDY OF ECONOMICS AT CLARK\n- xmp:modifydate=2018-04-13T11:40:10-04:00\n- xmp:createdate=2018-04-11T16:23:41-04:00\n- xmp:metadatadate=2018-04-13T11:40:10-04:00\n- xmp:creatortool=Acrobat PDFMaker 11 for Word\n- xmpmm:documentid=uuid:eed7ff94-0dd0-4ca7-b092-4503be53a5c8\n- xmpmm:instanceid=uuid:a981c601-c383-414d-af0b-f2c65b36dcf7\n- xmpmm:subject=8\n- dc:format=application/pdf\n- dc:title=INTRODUCTION TO THE STUDY OF ECONOMICS AT CLARK\n- dc:creator=agibson\n- pdf:producer=Adobe PDF Library 11.0\n- pdfx:sourcemodified=D:20171010150339\n- pdfx:company=University\n\n\n## Contents\n### Page 1\n\nINTRODUCTION TO THE STUDY OF ECONOMICS AT CLARK\n\n\nEconomics as a formal discipline of study is barely 100 years old, but in that time it\nhas become one of the most popular areas of study. It appeals to students who are\ninterested in social action, in analytical modeling, and those with career goals. This\nHandbook describes economics as a field of study and the economics program at\nClark.\n\n\nEconomics focuses attention on the tradeoffs inherent in any choice involving the use\nof scarce resources. While economists may sometimes disagree in their conclusions,\nthey share a common method or language for identifying and quantifying these\ntradeoffs. The economics major is designed to give you an understanding of the core\ntheory of economics, the basic tools of statistical analysis, and the wide range of\napplications in areas as diverse as macroeconomic policy, economic history, and\nprofessional sports.\n\n\nAs an academic discipline, economics offers insights into a range of crucial problems\nfacing the world today:\n\n\n- • Can we have both economic growth and a livable environment?\n\n- • How can the countries in transition to the market economy do it most easily?\n\n- • Does global economic change also improve the lives of people?\n\n\n\nAs part of the liberal arts education provided by Clark University, economics offers\nan excellent opportunity for you to develop skills that are in demand for a wide range\nof careers and many programs of graduate study:\n\n\n- • Banking, insurance, finance, and many other business fields.\n\n- • Planning and research in environmental and urban studies, social welfare programs.\n\n- • International business and finance; international development.\n\n- • Advanced study for degrees in law, public policy, and business administration.\n\n- • Economics as a profession, including teaching, research and public policy.\n\n\n\nThe Economics Department at Clark offers study leading to the BA, MA and PhD. The\nexistence of a graduate program results in an unusual variety of courses, of\nsubstantial breadth, and significant depth. Graduate students occasionally take\ncourses designated for juniors and seniors, and advanced undergraduates are\npermitted to take any course for which they have satisfactory preparation.\n\n\nThis Handbook provides a user's guide to the economics major. The First Year\nProgram provides an overview of the courses that introduce the discipline of\neconomics. discusses the ins and outs of declaring a major, finding an\nadvisor, and satisfying requirements. Students completing the economics major find\nthat their choices after graduation--whether graduate education or career\nopportunities--are enhanced if they have tried their major.\n\n\nMany students have used in the public sector and business, to acquire\n\"hands-on\" experience that makes use of their economics background.--the Undergraduate Economics Club and the Omicron Delta Epsilon\nhonor society--host talks and social events to help students in economics get to\nknow each other and share common interests.\n\n\n\n\n### Page 2\n\nAn important part of the senior year of a liberal arts education is the capstone\nexperience. In economics, the capstone experience allows the student to put to use\neconomic theory and quantitative skills to develop expertise in a research topic. The\ncapstone is available in several different formats: a group or individual research\nproject in a select number of upper division courses, a research project conducted\nindependently with a faculty member, or for those meeting the academic\nqualifications, the Program.\n\n\nAny professor is envious of the joy that comes with the discovery of a new discipline.\nThe faculty of the economics department welcomes you to the department, and we\nlook forward to the pleasure of sharing with you the discovery of familiar and newly\ndeveloped concepts in economics.\n\n\nLearning Outcomes for Economics Majors\n\n\n- 1. Gain access to existing knowledge. Majors will be able to locate information\nin the academic and general literature on topics in economics. Majors will\nalso be able to identify and collect data appropriate to a topic for economic\nanalysis.\n\n\n\n- 2. Acquire analytical skills. Majors will be able to identify economic analysis in\nboth academic and general literature. This competency includes the ability to\nsummarize an argument in the academic literature and interpret statistical\nresults at the level of basic regression analysis.\n\n\n\n- 3. Utilize existing knowledge to explore new issues. The student will be able to\nbuild on existing knowledge to analyze an economic issue or conduct a\npositive or normative analysis of a policy proposal.\n\n\n\n- 4. Present ideas in written and oral or other form. The student will be able to\npresent economic arguments and analysis in a paper (of a minimum of eight\npages). The student will be able to present economic arguments and analysis\nto an audience.\n\n\n\n- 5. Develop a skill set appropriate for later employment. The Economics major is\nnot focused on providing career skills but students will develop a variety of\nskills and techniques that can enhance employment opportunities. These\ninclude written expression, spread sheet analysis, statistical analysis, and\npresentation tools such as PowerPoint.\n\n\n\n\n\n### Page 3\n\nTHE FIRST YEAR PROGRAM\n\n\n- \n\n- •\n\n- \n\n\n\nWhere Do I Start?\n\n\nFor most first-year students, there is little difficulty in choosing which economics\ncourse to take. Economics 10 – Economics and the World Economy, is the first in the\nsequence of courses. Econ 10 is a prerequisite for all other econ courses, and is\nrequired or recommended by many other disciplines at Clark.\n\n\nEconomics 10 – Economics and the World Economy\n\n\nEconomics 10 has been designed to fit the guidelines for a global comparative\nperspective course (CP). It provides a one semester introduction to economics, and\nis an excellent introduction to the economic approach to problem solving and\nanalysis.\n\n\nThere is no special math requirement for Econ 10 beyond that for admission to Clark.\nThe course takes a number of simple, but powerful tools of economic analysis and\napplies them to a variety of social problems in a global context. These problems,\nsuch as housing the homeless, dealing with the drug problem, and determining the\nsalaries for baseball players--to give a few examples--are all ones in which there are\na number of different approaches to resolving them. Econ 10 puts particular\nemphasis on comparing political solutions with the alternative of market-based\nsolutions, and in so doing, gives you an understanding of how economists think.\n\n\nTransfer Students\n\n\nTransfer students and first-year students with advanced standing follow different\nguidelines. If you have taken an economics course for college credit, and course\ncredit has been accepted by Clark, you should talk to the undergraduate program\ndirector in the Economics Department about what course to take next. The\nundergraduate program director of the department will be happy to discuss your\nindividual situation and, depending on the course you took, may be able to certify\nthat you have already met the Econ 10 course requirement for other programs.\n\n\nIf you are transferring in more than one economics course, there are no general\nguidelines/or course equivalence. You should see the undergraduate program\ndirector of the department to clarify the specific courses for which you are to receive\ncredit.\n\n\nELEMENTS OF THE MAJOR\n\n\n- \n\n- \n\n- \n\n- \n\n- \n\n\n\n\n\n### Page 4\n\n- \n\n\n\nThere are three important steps to beginning your major. First, you declare the\nmajor. Second, you choose a faculty member as an advisor. Third, you and your\nadvisor prepare a planned course of study. All three parts are discussed below.\n\n\nDeclaring the Economics Major\n\n\nTo declare the economics major, you need two forms:\n\n\n- • the, which may be obtained from the Registrar's\nOffice website:\n\n- • the Economics Department, which is available from the\nDepartment Office.\n\n\n\nThe Major Declaration Form must be signed by the undergraduate program director\nof the Economics Department. This form also allows you to change your advisor to a\nfaculty member in the Economics Department. All of the full-time faculty in the\ndepartment are willing to be advisors and you should feel free to ask anyone you\nwant. However, if you prefer, the department will assign you an advisor.\n\n\nThe Departmental Advisor\n\n\nThe first activity between you and your advisor should be to prepare a planned\ncourse of study. This will be a guide for your course work and for the emphasis of\nrelated but non-economics department courses. See the Course Requirement\nWorksheet.\n\n\nYour advisor not only can help plan the sequence of your courses for the major, but\nalso interpret various academic regulations, guide you through the administrative\nbureaucracy, and help you customize your major so that it meets your needs as\nclosely as possible. While you may get occasional reminders of the need to meet with\nyour advisor, we assume that you will take the initiative to see him or her when you\nneed some advice, and we encourage you to do so. If your advisor is on leave or\nunavailable for consultation, you should seek the advice of another member of the\nfaculty.\n\n\nRequirements for the Major\n\n\nThere are a total of eleven courses required for the economics major. Six of these\nare specific economics courses, four are in economics, and one is course outside the department. All courses are to be taken on a graded (i.e.\nnot P/NR) basis. In addition, every major is expected to complete a course\nthat is typically taken during the senior year. Majors must have a grade point\naverage of 2.0 for the ten required economics courses. The details of these\nrequirements are as follows:\n\n\n1) Core courses\n\n\n\n\n### Page 5\n\nEcon 10, Economics and the World Economy\n\n\nEcon 11, Principles of Economics\n\n\nEcon 160, Introduction to Statistical Analysis\n\n\nEcon 205, Microeconomic Theory or Econ 204, Microeconomic Theory with calculus\n\n\nEcon 206, Macroeconomic Theory\n\n\nEcon 265, Econometrics\n\n\nThe core courses provide every economics major with a common background in\neconomic theory and quantitative skills that are then applied in the 100- and 200-\nlevel electives. Economics 10 is required for all 100-level courses and Economics 11\nis required for 200-level courses. You are strongly encouraged to complete these\ncore courses by the end of your junior year. Students who complete them early on\nfind that the skills they offer help them get the most out of the elective courses. In\nany event, you should schedule your courses so that you have completed your core\nrequirements before you enroll for the capstone course during your senior year. The\ncore courses must all be taken in residence at Clark, in the Undergraduate College.\nIf you have any questions, please see the Department Chair. A minimum grade of\nC- must be earned in each of the required core courses.\n\n\n2) Economics electives\n\n\nFour economics courses other than the above. At least three of the four must be at\nthe 200 level. An internship ordinarily may not be used to satisfy one of the electives\nor course requirements. One exception is that an internship in Washington, DC on a\nregular Clark program with a placement in an agency or department that has an\norientation in economics may satisfy one unit of economics elective credit at the 100\nlevel. Prior approval from the Department Chair is required.\n\n\nNote that some 100-level courses, such as Economics 108 (International Economics)\nand 128 (Development Economics), are also offered at the more advanced 200-level\n(Economics 207, 208, and 228). If you are particularly interested in these areas of\nstudy, you should opt for the 200-level credit. Students who have taken 128\nordinarily cannot receive credit for 228.\n\n\n3) Capstone course\n\n\nDuring the final year of the major an economics course must be taken which satisfies\nthe capstone requirement. The capstone course is not an addition to other\nrequirements. There are three ways of accomplishing this:\n\n\na) Participation in the Honors Program.\n\n\nb) 200-level economics research course.\n\n\n\n\n### Page 6\n\nc) Directed Research course. For students unable to meet the capstone\nrequirements through (a) or (b), it may be possible to arrange with a faculty\nmember for individually directed research work.\n\n\nYou are required to submit a “capstone approval form” to the Department during the\nfirst two weeks of the semester during which you are taking the course. The form\nmust be signed by the professor in the capstone course. In the semester in which\nyou take your capstone course, you will be required to present a poster at the\nEconomics Department Capstone Poster Session which is held on the last Monday of\neach semester.\n\n\n4) Related and Recommended courses\n\n\nThe related course must be either MATH119 (pre-calculus) or MATH120 or MATH124\n(calculus/honors calculus). Calculus is recommended for all majors.\n\n\nEconomics majors are also recommended to complete two courses that are offered\noutside of the economics department which are related to the goals of the economics\nmajor. This is an opportunity for you to integrate courses from other departments\nwith your economics courses, not a binding constraint (it is not reviewed by the\ndepartment for completing the major). Obvious choices include courses in\naccounting, finance, management information systems (MIS) and operations\nmanagement from the management department, and courses in computer science,\neconomic geography, or advanced mathematics. Courses in international\ndevelopment, history, or political science also integrate well with some economics\ncourses. You can consult with your departmental faculty adviser for further\nsuggestions on how to relate other courses to your economics interests.\n\n\nInternship credit does not ordinarily count as fulfilling one of the eleven economics\ncourses required for the major.\n\n\nNon-Clark Courses in the Major\n\n\nIt is expected that all of the six required core economics courses be taken at Clark in\nthe regular day school program (not COPACE). You should plan your schedule so that\nyou do not have to take any of the courses, Econ 10, 11, 205, 206, 160 or 265 in\nsummer school or at another college or university.\n\n\nIf you are a transfer student, courses taken for college credit before you enrolled at\nClark may meet the requirements of one or more of the core courses. Please consult\nwith the economics department undergraduate program director about this.\n\n\nElective courses and related courses do not have to all be taken at Clark, although\nwe expect the majority of these courses to be completed at Clark. You should check\nwith your advisor as to the suitability of a course, before you take it. Some courses\nlisted as \"economics\" at other colleges are much closer to the courses taught in the\nManagement School at Clark, and cannot be used as economics electives. You should\nalso make sure that an off-campus course is not the same as a Clark course you are\nalso planning to use as a major credit. There is not much standardization in naming\ncourses. In all cases, check with your advisor.\n\n\n\n\n### Page 7\n\nThe Senior Clearance File\n\n\nThe Economics Department maintains a master file on your progress toward meeting\nyour requirements. This is called a Senior Clearance File. It is kept by the\nDepartment Secretary.\n\n\nIf there are any non-Clark courses to be counted towards major requirements, the\nDepartment Chair must provide written notification of such an agreement. This\nwritten notification is to be included in the Senior Clearance File.\n\n\nCUSTOMIZING YOUR MAJOR\n\n\n--to suit your interests, your plans for Post-Graduate Education, or your\nCareer\n\n\nWhile the economics major offers a key building block for a liberal arts education,\nyou can do much to tailor it to your own individual career or educational objectives.\nBy making appropriate course choices within and outside the major, you can\ndemonstrate to prospective employers and graduate school admissions committees\nthat you have prepared yourself well with a challenging and solid academic program.\nIn thinking about how to make your major the most valuable experience you can,\nyou should also be sure to consult with your department advisor, the Clark Career\nServices Office and the admissions offices of any graduate or professional schools\nyou hope to attend.\n\n\nAreas of focus\n\n\n- \n\n- • Urban Development and Social Change\n\n\n\nStudents with interests in urban issues may develop them through the concentration in\nUrban Development and Social Change. Economics 160 (Introduction to Statistical\nAnalysis) can be taken to meet the research methods requirement for the concentration,\nand Economics 277 (Urban Economics) counts towards the requirement for 5 courses in\nurban issues. Students who would like to know more about integrating their major with\nthe concentration may contact with Prof. Brown.\n\n\n- • Environmental Issues\n\n\n\nUnhealthy air and water, toxic waste dumps, destruction of rain forests,\nglobal warming – many of these local and global environmental problems are\noften by-products of individuals simply trying to do the best things for\nthemselves and their families. While natural and physical sciences can warn of\nthe extent of these problems and help develop technologies to alleviate them,\nthe study of the human behavior that results in environmental damage can\ninform us of why individuals made these particular decisions. Economics, as a\nsocial science, studies human behavior by analyzing the choices individuals\nmake within their natural resource and institutional constraints. Majoring in\neconomics with a focus on environmental issues is an excellent way to learn\nhow to conceptualize these problems and analyze policy options designed to\nalleviate them. The core environmental courses are Environmental Economics\n\n\n\n\n### Page 8\n\n(ECON254), Natural Resource Economics (ECON253) and Valuing the\nEnvironment (ECON255). Depending upon individual student interests other\ncourses that are most relevant to understanding these issues include\nEconomic Development (ECON128/228), Urban Economics (ECON 277) as\nwell as courses in IDCE and Geography.\n\n\nCareer and post-graduate education\n\n\n- \n\n- \n\n- \n\n- \n\n- \n\n\n\nThe following are some suggestions for enhancing the major. As you will see, a\ncommon thread in all of these suggestions is the acquisition of an important core set\nof skills: writing, analyzing problems and reasoning, and being comfortable with\nquantitative analysis. Virtually all careers draw heavily on this basic set of skills and\nit is important that you are able to demonstrate that you have mastered them.\n\n\nThe International Studies Stream\n\n\nThe International Studies Stream allows students to major in a traditional\ndepartment while emphasizing one of the two areas. Courses in the student's major\nare integrated into the Stream, and become part of that program. The Department\nof Economics heartily endorses this program and welcomes students who have been\nadmitted to it. Consultation with your advisor in the Economics Department will\nallow you to plan your full course of studies in a way that ensures completion of all\nrequirements.\n\n\nEmployment in Business\n\n\nEmployers appreciate job applicants who can demonstrate good oral and written\ncommunication skills and familiarity with quantitative tools and methods. A student\nconsidering a career in business would do well to take courses that emphasize\nwriting, both in and out of the econ department. Econ 265 (Econometrics) may be of\nparticular interest to students looking for practical applications of statistical methods.\nFamiliarity with statistical programs is also helpful, and while a number of economics\ncourses make use of computers, a course in computer science will provide a formal\nintroduction to the concepts that underlie modern computing. Almost all economics\nmajors planning on business careers take courses in the Management program. The\nmost popular useful course is introductory accounting.\n\n\nThe value of an economics major to a prospective employer is that the\nstudent/applicant has been trained in a rigorous academic discipline. Most of your\ntraining is ahead of you if you choose a business career, but that training is generally\nmade more efficient with an educational base in economics.\n\n\n\n\n### Page 9\n\nFinally, a good internship, either in the summer or during the academic year, can be\nextremely helpful in providing both practical experience in a field of employment and\na preview of just what such careers entail. Internships even lead to employment\noffers. On the other hand, some students have discovered that the field they were\nplanning to work in is not for them - also a useful educational experience.\n\n\nPre-Law\n\n\nThe economics major is a common and desirable precursor to the study of law. The\nmajor can offer the writing and analytical reasoning skills law schools are looking for.\nWithin the major, any of the capstone courses offer opportunities for writing as well\nas oral presentations. Seminar-type courses also enhance these skills. The study of\nlaw in the late twentieth century is often concerned with principles of\nmicroeconomics and the construction and enforcement of regulation is the\napplication of micro theory. Courses such as Industrial Organization, Environmental\nEconomics, and Monetary Economics are particularly well suited to the pre-law\nstudent.\n\n\nOutside of the Econ Department, many courses can help you develop the skills that\nare needed for success in the law. Those that stress the development of language\nskills and creative power in thinking are highly recommended. Many students find\nthat courses in philosophy that help them develop reasoning skills and the ability to\nthink logically are helpful. The Pre-Law Handbook, available from the Pre-Law\nadvisor in Career Services, offers the most up-to-date information for you. Details\nare also available.\n\n\nFinally, you may find Clark's interdisciplinary concentration in a nice\nframework for including your interest in law with your economics major.\n\n\nPre-MBA\n\n\nEconomics constitutes an excellent major for a student interested in the pursuit of an\nMBA, including the five-year BA/MBA program. If you are interested in the BA/MBA\nprogram, you should consult the undergraduate advisor in the School of\nManagement, as requirements come early in your course of studies. Here again,\ncoursework that enhances your writing and oral communication skills is helpful. The\nbetter business schools also look for students who have developed a good\nquantitative background. Many of the best graduate schools of business require\nintroductory calculus (Math 120). If you wish to develop your quantitative skills\nwithin economics, you would be well advised to consider Econ 271 (Math for\nEconomists), as well as Econ 265 (Econometrics), which treats the theory and\napplication of statistical methods for economic analysis. Courses dealing with\nfinancial matters such as Monetary Economics and International Monetary Theory are\ngood background for the study of business.\n\n\nBeyond these skills, some additional background in computer science is useful. An\ninternship with substantive responsibilities can be very helpful, but one should\nexercise care in the selection of internships.\n\n\nSecondary Teaching\n\n\n\n\n### Page 10\n\nStudents interested in meeting the requirements for secondary school teaching of\nsocial studies will need additional courses in Education. For information concerning\ncurrent requirements, please see the Education Department.\n\n\nGraduate Study in Economics\n\n\nMany graduate schools offer both the masters and doctorate in economics and\nrelated fields. Traditionally the master’s degree in economics has been viewed more\nas a consolation prize to doctorate students who wished to cut short their studies,\nbut today there are a number of good masters programs in areas with a focus on\nspecific applications, such as international finance, public policy or planning.\n\n\nThe Ph.D. is the degree required for virtually all college and university teaching\npositions and many research positions with the title of economist. We recommend\nthat if you are thinking of a position in research that you point your studies towards\na Ph.D. (Most doctoral programs in economics are set up to admit students with a\nBA. An MA would not be a first step to doctoral study.)\n\n\nThe advanced study of economics is analytical and quantitative in nature, and a\nstrong academic record with strong grounding in mathematics is generally important\nfor admission to and success in a graduate program in economics. Calculus is\nessential and additional math courses, including multivariate calculus and linear\nalgebra, are desirable. Econ 271 (Math for Economists) is a nice complement to your\neconomic theory courses. Because we have a Ph.D. program in economics, a\nnumber of advanced courses are available to undergraduates that would normally\nnot be. You should consult with your economics advisor.\n\n\nTHE MINOR\n\n\nEven if you major in another subject, you can still continue to explore economics in\nsome depth through a minor. It is important to discuss a minor with your advisor in\nyour major field so that the specific courses taken integrate with your major. You do\nnot need to have an advisor in the economics minor. The most common majors for\nthe many students who minor in economics include management, math, and\npolitical science.\n\n\nThere are six economics courses required for the econ minor. Two of them are Econ\n10 and Econ 11. The remaining four are electives which can be chosen from any of\nthe Economics Department course offerings. At least two of these electives must be\nat the 200 level. Internships may not be taken to satisfy the six course requirement.\nA minimum of a C- must be earned in each course in order to receive minor credit.\n\n\nTo declare a minor, simply fill out the declaration form and come to us in the\nEconomics Department office, JC 124. The Undergraduate Program chair will\ncomplete the form for you.\n\n\nINTERNSHIPS\n\n\nThe Economics Department participates in the university Internship Program, which\nallows students to spend a semester working full- or part-time outside the classroom\nas part of their academic experience. Contact the LEEP Center for details.\n\n\n\n\n### Page 11\n\nInternships are available with many firms and public agencies in both Worcester and\nthe Boston area. Students with an interest in public policy issues have benefited from\nthe internships in federal agencies set up through the Washington Center Program\nthrough the LEEP Center An internship offers you an opportunity to explore career\ninterests. Many students focus their attention on financial services, but excellent\nopportunities are available elsewhere that could ensure you more hands-on\nexperience. Students have used internships in the Boston Redevelopment Authority,\nthe Blackstone Valley and Worcester Chambers of Commerce, the Main South\nCommunity Development Agency, and other organizations to gain first-hand\nknowledge of economic issues and how they matter in a wide range of settings.\n\n\nInternship credit does not ordinarily count as fulfilling one of the eleven economics\ncourses required for the major. An exception to this is a Washington internship on a\nregular Clark program with a placement in an agency or department that has an\norientation in economics (e.g. the Treasury Dept., OMB, or a Congressional\nCommittee with economic responsibilities). If economics course credit is to be given,\nsuch an internship must be approved in advance by the undergraduate program\ndirector.\n\n\nSTUDENT ORGANIZATIONS\n\n\nAll students interested in economics are invited to join the Undergraduate Economics\nSociety. The Society hosts career forums, panel discussions, and social events to\nthose interested in economics as an opportunity to get to know each other and keep\ninformed on topics of mutual interest. Recent events have included a career forum\nwith recent graduates of Clark and a field trip to the New York Federal Reserve Bank\nand the New York Mercantile Exchange.\n\n\nClark also has a chapter in the international economics honor society, The ODE offers members a number of, including access to other\nmembers from around the world and opportunities to publish original research.\n\n\nMembership is open to junior and senior economics majors who have completed at\nleast six economics courses with a specified high grade point average. For juniors the\nrequired econ GPA is 3.5; for seniors it is 3.25.\n\n\nHONORS, AWARDS, AND SUPPORT FOR STUDENT RESEARCH\n\n\nMajors in economics have a number of opportunities to earn recognition for their\nacademic achievement. Every year, a select number of majors are chosen for\nOmicron Delta Epsilon (ODE), the honors society in economics.s about\nthe ODE is provided on the student organizations page of the Handbook. In addition,\nfrom seven to twelve students elect every year to work towards departmental\nhonors. Honors theses written in recent years have included studies of AIDS in South\nAfrica, the impact of global climate change on agriculture in the United States,\ncontagion in financial markets, and role of integration of the global economy on the\nwell-being of women. Generous donations from Clark alumni and former faculty have\nfunded several awards for students. Finally, alumni contributions have established\nendowments that provide support for student research.\n\n\n\n\n### Page 12\n\n- \n\n- \n\n- \n\n\n\nThe Honors Program\n\n\nDepartmental Honors are awarded to economics majors at graduation on the basis of\ntheir grade point average and the completion of an honors thesis of sufficiently high\nquality. In order to enroll in the Honors Program (Econ 297) you must have at least\na 3.6 average in economics courses and a 3.0 overall GPA. We also expect that you\nwill have completed all (or all but one) of the six required courses for the major by\nthe end of your junior year. All students taking honors should have completed Econ\n265 (Econometrics) or be enrolled in the course in the fall.\n\n\nSometime during the spring of your junior year, you must choose a thesis advisor\nand thesis topic prior to receiving permission to take the honors course. Your major\nadvisor can help you in this. In most cases, the topic is something you found\ninteresting in one of your previous economics courses and would like to follow up on.\nThe thesis topic should be explored in some depth, so we recommend doing your\nthesis in an area in which you have already taken at least an introductory course.\n\n\nYou should informally discuss the thesis topic with your faculty thesis advisor and\nenroll for credit in Economics 297 (Honors) during the fall of your senior year. The\nHonors course includes assignments on doing empirical research and writing up of\nresults. Under the supervision of your thesis advisor, you will begin your thesis\nresearch during the fall and complete the research and thesis-writing during the\nspring semester. If you wish, you can receive academic credit for the Honors course\nin the fall and spring semesters.\n\n\nAfter completing the thesis, you will share the results of your research, so that other\nstudents can both benefit from your work and get an idea of what is involved in\ndoing an honors thesis. You will prepare a poster describing your research at\nAcademic Spree Day. In addition, you will present your work to the department in\nan informal seminar.\n\n\nOnce the thesis has been completed and presented, the department meets to\nconsider it and your academic record, and then recommends the appropriate level of\ndepartmental honors. The department can recommend that you graduate with\nHonors, High Honors, or Highest Honors. You receive a grade in Economics 297\nbased on your thesis supervisor’s evaluation of the thesis, but a passing grade on the\nthesis does not necessarily mean that departmental honors will be awarded.\n\n\nIf you are interested in finding out more about the honors program, please talk to\nyour advisor and take a look at some of the honors theses that have been written by\nprevious students (available in the department office).\n\n\nAwards\n\n\nEach year the Economics Department designates winners of awards for excellence in\nwork in economics. These include:\n\n\n\n\n### Page 13\n\nDavid R. Porter Prize for Excellence in Economics, awarded to a senior in economics\nin the fall of their senior year.\n\n\nHarry B. and Alice N. Sheftel Prize in Economics, awarded to an outstanding senior in\neconomics before Commencement.\n\n\nRoger Van Tassel Book Award, given to a freshman or sophomore for excellence in\nEcon 10 or Econ 11.\n\n\nSupport for Student Research\n\n\nAdvanced students in economics have many opportunities to carry out research as\npart of their capstone projects. Those completing honors theses may apply for the\nHarry B. and Alice N. Sheftel research grants for undergraduates, for which\napplications are typically completed in early October. The Sheftel research grants\nfund the acquisition of data or other expenditures for a project, including the\npurchase of computer software, and research visits at local libraries. The C. Bailey\nInternship Fund in Economics funds undergraduate research and is specifically\ndirected at summer research.\n\n\nOn occasion faculty grants provide support for advanced undergraduate research.\n\n\n","timestamp":"2026-06-15T12:11:48.943Z","method":"Workers AI (file)","duration_ms":605,"tokens":8576}