Do you choose the shiny new car or the vacation in Cancun? Does a business invest in new equipment or add more employees? Should the government spend money on a new social service or pay down some debt? Choices, choices. That, in a nutshell, is what economics is about — where to direct limited resources. It’s a trade-off, where you get one thing but give up other things to get it. Economics is a constant push-pull situation — fascinating, dynamic, inextricably entwined with history and politics. A solid understanding of it will aid you all through your career and personal life. Our program aims to instill that understanding and equip you with the skills to make practical use of it.
It’s not just the choices. It’s: Are they the best choices? That’s where things get complicated, opening up a Pandora’s Box of more questions, competing answers, and disagreement on what constitutes the success or failure of a choice.
Our program gives you a balanced curriculum of liberal arts, general business, and industry management skills because each area has its own perspective. While you’re developing an appreciation for each point of view, you’ll also learn the powerful analytical and technical skills economists are famous for.
And because nothing replaces first-hand experience, we reinforce your classroom learning through a wealth of experiential learning and professional enrichment opportunities.
By the time you graduate, you’ll be qualified to travel a career path in business, communications, policy, data management, international studies, and law, among many others. In fact, there’s almost no field where a degree in economics doesn’t give you an edge.
Our economics students select one of three concentrations: General Economics, Behavioral Economics, or Economic Sustainability.
General Economics gives you a more overall view and lets you choose a mix of courses from the other two concentrations.
In Behavioral Economics, you’ll focus more specifically, with courses in Game Theory, Behavioral Economics, and Decision Making Under Uncertainty.
The Economic Sustainability concentration zeroes in on Environmental and Natural Resource Economics, Sustainable Development, and Public Finance or Economic Development.
Because a knowledge of economics gives you a competitive edge in so many fields, we offer a minor to partner with your chosen major. You’ll graduate with a firmer grasp on what’s going on in the U.S. and global economies and an economist’s analytical and technical skills in your career tool set.
No matter what your primary career interest is — business, communications, criminal justice, international studies, or law — this minor makes a major impact with potential employers.
And what do we mean when we say hands-on and student-centered?
The University of New Haven Economics Collective – which you can reach at http://unheconomicscollective.ning.com/ - is an economics-student-driven learning community. It reflects our belief in the need to emphasize interaction with business leaders, intellectual collaboration with other students and alumni, networking, and the need for a consistent and continued relationship development and integration of knowledge. On this site, students, faculty, friends, and alumni engage in a vigorous exchange of ideas and issues relevant to our community; or they may simply post their cat videos. The Collective is entirely run by a group of economics students – from first year to seniors; you will be expected to participate and actively post.
We rely on the New Haven Economic Laboratory to showcase the focus we place on training and on providing you with relevant and useful economic skills; you can access the Laboratory at www.scepl.org. During your senior year – in the Capstone sequence – our students, working closely with faculty, devote considerable amount of time learning skills highly valued in today’s workplace. The focus during the first capstone course is on traditional applied know-how such as writing and researching skills, data preparation, location analysis, shift-share applications, forecasting, all combined with sound economic analysis.
In the second capstone course – the focus shifts towards training in Predictive Analytics and Advanced Forecasting using STATISTICA, a popular Data Mining package. The students publish their work and analysis in the Laboratory, and actively collaborate and contribute to the Laboratory’s Quarterly Report, - a publication whose focus is on the economy of the broader New Haven region.
In Applied Econometrics course, you will learn how to use STATA, a common software used among economist that can run big data, during the data analysis and modeling.
The two capstone courses are the vehicle where you hone your analytic and quantitative skills. The faculty also requests that you write a thesis, and present a paper in a public forum based on your thesis research. During this process you work closely with all of the department faculty members. You can see this year’s thesis topics and the presentation schedule here: http://unheconomicscollective.ning.com/blog/senior-thesis-presentations-save-the-date. We hope you can join us.
Economics is the most popular major of CEO's of Fortune 500 firms. Some famous people who have studied economics are: Steve Ballmer (Microsoft), Ted Turner (CNN), Meg Whitman, (Ebay), Scott McNealy (Sun Microsystems), William Harrison, Jr. (JP Morgan Chase), and Donald Trump (Real Estate), Sam Walton (Wal-Mart). The list of famous people who have studied economics also includes names from entertainment, sports, and politics: Ronald Reagan, George H.W. Bush, Gerard Ford, Arnold Schwarzenegger, Lionel Richie, Diane von Furstenberg, Scott Adams, Danny Glover, Paul Newman, Cate Blanchett, Mick Jagger, John Elway, Bill Belichick, and Tiger Woods. Famous Economist Hal Varian is serving as Chief Economist at Google after he retired from University of California, Berkeley.
Economics faculty members are active in research and publishing articles in academic journals and edited collections. Students can become involved as research assistants and/or conduct their own research under the guidance of a faculty member through independent study.
Chair, Department of Economics
Professor Armando E. Rodriguez, Ph.D.