UCSC Review Winter/Spring 1994
Economics at UC Santa Cruz
Students who study economics at UCSC benefit from rich academic programming at the undergraduate and graduate levels, an accomplished faculty, and a successful field-study program.
The Ph.D.Program in International Economics The doctoral program in international economics, which was launched in 1989, emphasizes international trade, finance, and development. "The increasing integration of the world economy has pushed international issues to the center of many fields of economics," says economics professor Kenneth Kletzer, who coordinates the doctoral program. "This has created new demand for international economists in policy research." Dissertation subjects chosen by students in the first class include the transition to a market economy that is occurring in Russia, economic integration in East Asia, and differences in growth rates in Japan, Korea, and Taiwan. The board has attracted faculty with strong academic accomplishments as well as extensive "real world" experience with the President's Council of Economic Advisers, the Board of Governors of the Federal Reserve System, the U.S. Agency for International Development, the Bank for International Settlements, the International Monetary Fund, the World Bank, and the Asian Development Bank.
The Master's Program in Applied Economics The master's in applied economics is a professionally oriented graduate program that provides rigorous analytical training to prepare students for careers in business, government, international and domestic banking, consulting, and nonprofit organizations. The two-year program emphasizes quantitative training with a focus on written and oral communication skills. "Our curriculum is more applied than traditional graduate programs in economics and more rigorous than most M.B.A. programs," says economics professor Daniel Friedman, director of the master's program. "Our students are in great demand because they have state-of-the-art technical training and the know-how to be effective on the job." Established in 1980, the highly selective program recently graduated its 125th student; undergraduates have the option of enrolling in an accelerated five-year combined B.A./M.S. program.
Undergraduate Focus on Global Economics A new undergraduate pathway in global economics combines courses in economics, history, and culture with overseas study and foreign- language proficiency. Based on the premise that better communication and greater cultural understanding mean better business and policy making, the pathway takes an interdisciplinary approach to economics. "This approach reflects the changes in the world around us," says economics professor Robert Adams, who designed the pathway. "To be successful in international economics, students need a second language, and they need to understand how people in other countries live and work." A unique partnership with UC's Education Abroad Program allows students to study at one of nearly 100 EAP centers in 31 countries around the world.
Field-Study Opportunities Students who major in economics can gain valuable career-related experience by working with local businesses, government, and nonprofit agencies as part of the Economics Field-Study Program. Some of the biggest employers in the region participate in the program, which began in 1985 and now serves about 100 students annually. "The program gives students hands-on experience that helps them make the transition from the university to a professional career," says coordinator Robert Shepherd. "It benefits both the students and the employers."