Wednesday, August 11, 2010

Privacy Policy

Privacy Policy for economics-department.blogspot.com

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Intermediate & Advanced Courses


The intermediate (200 level) courses offer material on many different economic topics. These courses require Economics 105 as a prerequisite and are designed to be useful to non-majors as well as minors and majors. Finally, the advanced (300 level) courses involve a much more technically sophisticated approach to analyzing many of the same economic topics. These normally require some combination of Economics 203, 300, 302 and 304 as prerequisites and are designed primarily for economics minors and majors and those who expect to make use of economics in their professional careers. In most of the advanced courses, a substantial paper is an important part of the requirements.
Junior Research Seminars, Senior Thesis

Junior Research Seminars are semester-long research seminars which junior majors take to develop their research skills. They are developed around a topic, for example labor market discrimination. In these small seminar courses professors will guide their students as they examine current research in the area, learn the relevant research techniques, and conduct original projects. These electives, depending on the topic, will require Economics 203, Economics 300 and/or Economics 302, and possibly Economics 304. These courses should be taken in the second semester of junior year, or possibly in the first semester of senior year. The culminating experience in the economics major is the senior thesis, written as part of a year-long senior research seminar. The first semester is a group seminar in which students learn salient research skills, listen to and critique work of guest economics speakers, and develop their own research question. During the second semester students conduct original and independent economics research under the guidance of one of the economics faculty members.

Department of Economics


One of the larger departments on campus, the department of economics is committed to academic excellence. The objective of the department is to provide for our students a solid foundation in economic theory, develop their capacity to think (as we say, "like an economist") about problems that face society, and develop their capacity to do empirical work. We strive to develop basic analytical skills which contribute toward the understanding of our own and other economic systems, which serve as valuable foundation for advanced studies in the fields of economics, business and law, and which are necessary for making sound decisions in business or government careers.

Mar Gudmundsson New Icelandic Central Bank Governor?


The word on the street is that Mar Gudmundsson, Chief Economist & Director of the Economics Department at the Central Banki is set to be appointed the new Central Bank Governor. This is literally according to The Word On the Street column at Eyjan.is.

His bio reads like this:

Mar Gudmundsson is the Chief Economist and the Director of the Economics Department of the Central Bank of Iceland. He has a BA-honours degree in economics from the University of Essex and a M.Phil. degree in economics from the University of Cambridge England. His main research interests are in the fields of inflation, exchange rates, monetary policy, financial stability and pensions. He has published several articles in books and economic journals. He is on the editorial board of Economic & Financial Review and was a guest editor of an issue on monetary and exchange rate policies in the Nordic countries. Gudmundsson has been a member of several ministerial appointed committees in Iceland and has served as a consultant for the IMF. Gudmundsson was the chairman of the board of one of the biggest pension funds in Iceland 1989-1992, has been a member of two government appointed committees on pensions and has written several papers on the pension system in Iceland.

Mar’s resume reads wonderfully next to the one of David Oddson and other politicians that have made the position their own. Wish him good luck, he’ll need all he can get.

Economics Degree College Course

Getting an economics degree is perhaps feared by most people. However, if given the proper critical thinking ability, they would probably want to earn a degree in economics. An economics degree promotes critical thinking. Critical thinking about the dynamics in business, environment, politics, money, as well as people is crucial in learning economics. Economists are feared in the world of business because of their ability to look at business situation in a much broader scenario.

Economists are the planners in fiscal as well as monetary policies in a government. They are responsible for securing the distribution of wealth. They plan the use of resources in order for it to be equitable and sustainable as possible. The graduates of an economics degree are sought after in the world of finance, planning, managing, forecasting, and executing business principles that work. Not all individuals are adept enough to become an economist, however.

An economics degree requires students to have an excellent critical thinking. A keen observation skill is also needed in order to grasp both tangible and intangible theories thrown at you in the class. Often if not most of the time, an economics class challenge students to use their constructive imagination to form the scenario in their mind that are related to the subject being discuss by the teacher. Perhaps the number subject requirement to study economics is mathematics. Mathematics, particularly calculus and statistics, is the language of economics. An economics student must be prepared to handle numbers most of the time. Knowledge in computer and English composition is also a must. An adequate background in politics and government is also indispensable.


In London, the best schools to study economics are the London School of Economics and Political Science and Cambridge University. The Harvard Economic Department in Harvard University, USA is the best school to go to study economics in the United States together with Massachusetts Institute of Technology Department of Economics. The University of Tokyo is one of the best schools in Asia to study economics.

Vast opportunity waits for economist. Governments are still the number employer of top caliber economists for the federal or local level. They take care of the Federal Reserve, the monetary as well as the fiscal policy, and the planning of the wealth of the government. Economists are sought after in commercial banks, securities brokers, insurance companies, Fortune 500 companies, market research and consulting firms. They can work in the fields of agriculture, environment, finance, transposition, labor, international trade, and many others.

Law and Economics


Florida State Law views the joint J.D./M.S. in Economics as an integral part of its focus on Law, Business and Economics. Students in this joint degree program not only take graduate classes in the economics department and the law school, but they also enjoy the opportunity to work on academic projects at the law school with professors doing cutting-edge research on the intersection of law and both empirical and theoretical economics. The law school offers some scholarships for select students interested in pursuing this joint degree.

Applicants must apply for admission to both colleges.

Both the GRE and LSAT must be taken in order to be considered. Applicants to the economics department must have a bachelor's degree, an upper division (junior and senior) grade point average of 3.0 or better and a minimum combined score of 1,000 on the verbal and quantitative portions of the GRE. At the College of Law, for the Fall 2009 entering class, the average LSAT score was a 161 and the median GPA was a 3.53.

Once a student is accepted to both colleges, they must complete an application for the joint degree program. The application is available at Florida State Law's Office of Admissions, or can be accessed by clicking here. This normally is done during the first year of law school. The first year of study is generally done at the law school.

Economics: From dismal to sexy in three decades


Economics is the hottest major in the College of Arts and Sciences these days. With upward of 600 students tallied in the department's 2006-07 annual report, economics is now the most popular major in the arts college.

How did Thomas Carlyle's allegedly "dismal science" get to be so ... so sexy?
Uri Possen portrait
Franklin Crawford/Cornell Chronicle
Uri Possen, chair of the economics department, in his Uris Hall office.

One answer: It pays to know economics -- especially if you have your sights set on Wall Street, says Uri Possen, chair of the economics department, which has 31 faculty members. But increasingly, a solid grounding in economics is being seen by undergraduates as crucial to their resumes. As a social science, it also serves a global function.

"We understand the world better if we know economics," says Possen, who says he still advocates for a classic liberal arts education. "And students are finding it to be an extremely useful and important thing to understand."

Undergraduates are not only majoring in economics like never before, they also are adding it as a minor or doubling up. The trend is not unique to Cornell, says Possen.

"Universities across the country are seeing an increase in majors, and the economics departments in our peer institutions are considered central to the academic mission of their respective colleges," he said.

Cornell's numbers have been on the rise since the mid-1970s, when there were roughly 150 students majoring in economics. That figure had doubled by the mid-1980s and has since doubled again, according to the department's annual reports. That steady rise is not only in keeping with a national increase in economics majors at colleges and universities -- it parallels the boom in subscriptions to such magazines as The Economist.

So there is excitement -- and challenge. For Possen and members of his relatively small department, the trend means ever more ferocious competition to recruit and retain top-notch economists.

The department got a major boost in October with a campaign gift of $5 million from Cornell trustee Donald C. Opatrny '74 that will bolster teaching and research efforts.

The Opatrny endowment can serve to augment resources in developmental economics and allow the department to award postdoctoral fellowships for research (there are about 60 graduate students in economics). Undergraduates also benefit, and it gives Possen's department the support needed to attract the best and brightest.

Possen is optimistic that the university is committed to strengthening its economics department. Cornell was ranked 17th overall for economics, ranking 10th in development economics and seventh in labor economics in U.S. News and World Report's rankings last spring. Getting into the top 10 will take a lot of support. But Possen said New York University's economics department once ranked behind Cornell and is now in the top five. Columbia also has strengthened its department considerably.

The challenge, of course, is an economic one. For someone with a doctorate in economics, it's a seller's market. They can choose a fairly lucrative career in the private sector or, if they are a hot item, take a teaching post in one of many business schools that tend to offer far higher salaries, Possen says.

Economists also have plenty of choices in academia and that also raises the stakes. At Cornell, there are economists teaching in the College of Agriculture and Life Sciences, the College of Human Ecology, the ILR School and the Johnson School.

For now Possen is hoping that administrative discussions about bolstering the department bear fruit, and that Cornell takes the lead from its undergraduates who have a nose not only for what's in vogue but what's necessary to know in order to survive in a very competitive global economy.