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    UNIVERSITY OF SOUTH FLORIDA SOLLEGE OF ARTS & SCIENCES ECONOMICS Student Handbook FALL 2018 RS ee ed Ae AICCCR OTE Preparedby: Undergraduate licy Committee Department of Economics. University of South Florida ‘42026 Fowler Avenue, CMC 342 Tampa, FL 33620 (813) 974-4252 [Table of Contents _ PART I: WHY STUDY ECONOMICS?. ‘ve STRUCTURE OF Econo, vor Econowes, Te Benen a Costsce Stu Econoucs (Cancer OrrorrumesraRCEOHOMETS Tage: CAREERS WEcouOMECS, PART Il: DEGREE PROGRAMS. Frequent ASKED QuesTNs A80U1 THE BACHELOR'S DEGREE PROGRUNS (CAS Econowes 8.8 Deck PROGRAM CCAS QuuvaTve Econoucs MO EcoNaNETAGS B'S Decree PROGRAM MASTER OF ARTs DEGREEPROGRAM PAD. Decree Proce. Cour OFFERINGS nn Frown RESOURCES. PART Ili, GRADUATE STUDY. PEAR FoR GRADUATE SCHOOL, ‘SELECTING GRADUATE S300. “Thais: Fiews or Seectuzanon n Ecououcs TaBue3: To? 10 Econoucs DEPARTIENTS... “TaBur #: US, SoHO0LSCFFERNG THEPH_D. W ECONOMIES. ‘TABLES: CALENDAR FOR GRADUATE SCHOOL APPLCANTS. ECONOMES AS AN AVOCATON, PART I: Why Study Economics "Economics is such a nea! discipline because, athe heart isa framework for making decisions and decisions are everwhere — individuals, companies, counties, local governments. and ‘oyganizatons each face mgortent decisions. The structuro is very logical and analytical which lends @ simpicty to even the most complex decisions. A glance at the many fds within economics reveals ust haw extensive i the reach of economics and where the ski-et acquired when studying economics can be apoio. Even win au el, Ure ane a aad of drocions ‘one can fake, depending on higher interests. Athough | aid net previously have the formal framework for decision-making, | could not ave chosen @ beller field of stu, and even as my areas of nferest have shied over tho years, economics was comprehensive enough fo remain my ‘discitne.” USF Economics Ph.D, student, Robyn Kier Now that you have completed your frst course in economics, itis ime fo consider how to use wha you have leamed, whether to take other economics courses, and perhaps whether fo consider ‘economics as a major or minor id of study. The purpose ofthis handbeok i o provide you with information o help you make the ght decison, In Part |, reasons fr talng (and avoiding) courses in economies are presented, Al potential ijrs should carefull read Part | ofthis manual before declaring an Economics majr. Pat I esctbes the Economics program athe University of South Florida (USF). Part Ill presents @ vty of information concsming graduate sty in economics. This handbook provides information for USF students seeking to major in economics trough the Colege of As and Scienoes (CAS), ‘You wil find biographica information on Economics faculty, and descriptions of the elective courses offered, The Structure of Economics ‘Economies professor, Or Phil Porter, on why he chooses fo study econemis “1 was drawn by the human need fo understand how markets work and by the logical way economies addresses this ‘queston.” ‘Where does economics go alr the basic principles courses? The topics covered in the principles courses give you some ia of the content of intermediate and advanced courses. The core of Undergraduate economics, after principles, is Intermediate Price Theory and Intermediate Macroeconomis. Each ofthese courses reviews and exoands onthe theoretical topics studied at the principles level Trationaly, undergraduae Economics majors or minors take al least one applied course inthe ‘ea of Microeconomics, such as Labor Economics, Regulation and Anus, or Law and Economics, and one appied Macroeconomics course, such a5 Infemafonal Macroeconomics or Economic Growth, These coutses ae abled of theory, instuons, and policy questions, Students who are interested in applying economics to data problems wil want to teke @ course in 1[Page Econometrics (applicaonofslastical methods fo economic questions) and perhaps Mathematical Economies, Economies majors can ound out their curicula wih courses in specialized areas involving applications of both Niro and Macroeconomics, such as Publ Finance Intemational Economics, Envionmental Economics, Economic Development, History of Economic Thought, and Radical Poitcal Economics. Relat courses may come om the other social sciences: sociology, political science, psychology histay, and intemational studies, A good dose of mathemates and statsies 's not ony helpful in undergraduate economics courses, but so good preparation for career in {goverment or business, cr for graduate study. Majoring in Economics “As | spend more time 5 both an instuctor and researcher working fowards fishing my dissertation, a few general themes have presonted themselves as onmipresent throughout ‘economics. We Ive in a compiex world where ofcut decisions must be made everyday tow long should study for he next exam, what will my next large purchase be, how will swiching ‘majors effec! my future? As economists, our is fo study these decisions and help determine the optima choices given constraints such as timo, budget, and preferences. | find it difcult for ‘students noo be engaged when dscussng such fopcs. Afer puting tin such terms, iis clear tha economics is involvea i nearly every aspect of our fe. A degree in economics wil help open doors for a wide variety of career choicest is tay one ofthe few majors that aro applicable fo nearly every fel."= USF Economies Ph.D. student, Jon Hartman ish Economist, Alfed Marshal, wrole, “Economics is @ study of mankind in the ordinary business off.” You wil find that an Economics major prepares you for many professional carers, because economics offers a way o thinking about the ordinary business of life that is clear, concise, and Figorous. Job recnters and graduale admissions commitlees are favorably incined toward Economies majors as candidates for jobs or graduate work na vary of Fels, COne enduring strength of sconomics i its logical, ordered way of looking at problems and issues. Economics isa the same time the most applied, uantiativ, and scientific of the socialsciences, and the most theoretical of business degrees. it draws on history, philosophy, and mathematics to confont topics ranging fom how households or businesses can make sound decison to societal issues such as unemplaynent,infaion, crime, and environmental decay An undergraduate Economics major can be ideal preparation for working toward a Master of Business Administration MBA) degree at a graduate business school, leading to a carer in business management. Mast business graduate schools encourage students to take atleast some economics courses before staring graduate school Infact, many ofthe best business graduate schools prefer students with @ broad liberal ais background, which an Economies. major can provide. ‘large pat of the contet of a MBA program is based on economics. Economics provides the theoretical background for many business courses. inthe competition for top grades in a graduate rogram, thee is an advantage in already beng familar withthe central ideas of eoonemics. Furthermoce, an MBA program emphasizes making good business policy decisions, One important ‘approach fo those decision is through economic reasoning Is certainly helpul io have aoquired some sila this sor of thinking as an undergraduate {you pian to be a lawyer, an Economics major offers excollent preparation. Many law schools beleve that economic represents one of the best Dackgrounds forthe study of law because economics takes a logical, ordered approach to problems. Specie courses recommended for pre- law students include Inbrmediate Price Theory, Regulation and Antiust, Public Finance, Economies of Crime, and Law and Economics. Infact, a study of Law School Admission Test (LSAT) scores found that Economics undergraduate majors performed at or near the top ofall ‘majors taking the test" Graduate traning in publ policy or public administration, as a preparation for a govermental career in policy analysis, aso requires a strong economies background, Vitually every public policy issue has asubstanial economic dimension, so Economics major have a head satin such programs, Job opportunites are aso good for Economics majors who dont go on to graduate schoo Governments — federal stale, and local — employ economists in many roles. Private business firms, pariculaty banks and olber francialinstutions, aso employ economists. Business fms {employ Economies grades to analyze economic conitons, forecast sales, and also to do non- specialized workin sales and management. Students wih a strong background in both economics and at least one foreign language may have some exciing opportunites available with ‘matnational corporations. Many sconomists are employed in colleges and universities, both 3s. professors and administrators n general, graduate degrees are required fr such postions: a Master's degree for two-year colleges and a PhD. forfour year insituons. Numerous economists are employed in intematonal agencies in evelopment planning and poly studies by the Agency fr Intemational Development, the United Natons, andthe U.S. Stale Department. Many economists do private research, woking as constants to corporations and goverment agencies. Fal, an Economics degree may lead to graduate study ano a carer asa professional scholar or teacher, For the naton as a whole, eppoxnaily 10% of Economics majors complete a Nast dere inthe ste, and 10% o ese complete a PhD, degree. = Neswiadany, Meet, (SAT Sores of Esonamics ar: he 201233 Clase Update anuny 24, 2024) rable t/t soo 20 {080/00220485, 2024 85996 31Page The Benefits and Costs of Studying Economics Economies professor Dr. Joseph DeSalvo, on why students should study economics af USF “Our facuty members, masty wit PhDs. om leading insituatons, excel in both teaching and research. They are also wiling fo spend one-on-one time with students which is rae al other universes" College education is ony the beginning of along road that wil nave countless twsts and tums There is ample time to change jobs and careers. I's fr precisely tis reason that economics is a good major. You need to prepare yourself o take advantage of whalever opportunities become avaiable. Economics provides a good foundation for such changes because it teaches a «scpined way to analyze and to make choices. Reasons for Studying Mere Economics Pay attention to the Ecoromics majors who are juniors and seniors. They enjoy what they are leaming because iis chalenging and relevant is fun to understand subjects that bale other students an the general bic — maybe even your parent. tis also fun to major in a subject that enjoys prestige. You can wear your Economics major wh pide Economist John’ Maynand Keynes, ted (0 captire what was unique about the competent ‘economist in these words. the master economist must possass a rare combination of gis. He ‘must be @ mathematician, historian, statesman, phiosopher — in some degree. He must Understand symbols and speek in words. He must contemplate the particular in terms of the ‘general, and fouch abstract and concrete in the same fight of though. He must study the present in ho light ofthe past for purposes ofthe future. No part of mans nature or his institutions must fe ‘ential ouste his regard" If that sounds tke the kindof thinking that challenges your sls, economics may be where you belong, ‘You are aleady anare, fom your study of nteductory economic, of some reasons why many studens nd economies achallenging area for undergraduate study, while ohers choose to avoid it Here are some good reesons for studying economics, Economics Deals With Via Current Problems. Iniaton, unemployment, nonopoly, mergers, economic growh, pollution, free markets versus central planing, poverty, productvly, and other headin Issues are all covered inthe study of ccoonomics. Economics isa problen-based social science, and the probloms with which i s especially concemed are among the central issues of our mes. These issues fll newspapers and pervade pots. Economics is relevant not onto the big problems of soil, but soto personal problems, such a jobs, wages, unemployment, the cost of ving, taxes, and valing Economics isa Success and Prestigious Social Science “The aocompishments of sconomics have eslabshed it as perhaps the most successful social stience, No oer social sence has had equivalent impact in applying reason and sconce to the shaping of the nation’s scial destin. No ater social scence has @ Nobel Prize. The Council of Economic Advisers is unique; no such permanent agency esis for any other social science. Indeed, ew scientists of ay Kind enjoy so much prestige asthe economists Paul Samuelson and Milton Freidman, Economice Usce Thooreieal Models and the Scientiic Method ‘Some students become inpatint withthe seemingly endless array of conjcture and descriptive material that characterizes much ofthe social sciences. Economies offers a socal scence with models for organizing fas and for thinking about poicyallematves. Because economics deals wih pices and numbers, and because so many of is magnitudes are objectively measurable, ‘economic theory s more fly developed than most oher kinds f social theory. Many students find this igor and completeness one ofthe attractive aspecs of studying economics, Sometines students view math as a fascinating game or language, but are impatint at not being able to use it for human problems. While mathemati is increasingly used by all the social ‘sciences, economics has bng been inthe freffontin this respect. A student witha background in algebra, geometry, calculi, and statis ns many places to use these sls in econamics, Economics Majors Have Many Career Options ‘As noted earer,economis leads to a diversity of carer opportunities, These include careers in business, law, joumalsm, teaching, educational administaton, polis, fnanoe and banking ‘goverment service, public and private overseas serve, labor leadership, or graduate study in a ‘elated professional area, suchas law, business, or public administration, Employers, pariculaty business firms looking for iberal ars graduates often favor Economies maps because these stents area preferred employment ik. The demands ofthe Economics majors tend to ve avay te less anbtous, wile many beter minds ae atracted to. Thus, an Economics degree may prove to be a valuable credental. A good grade point average (GPA) in exonatics couses speats for ise. The pay goes beyond geting a jb; the salaries of ceconomiss, both academic and non-academic, tend to be higher than those of other socal stents and many oer business majors. What Some People HaveDone With an Economies Major Stove Balmer, CEO of Mcrosoft Cate Blanchet, Acress ohn Elway, NFL Quarterback Gerald Ford, Roeld Reagan, Presidents of The United States Naar Ful, Founder of Haat for Humanity Bill Kidd, Professonal Sher Jeremy Lin, NBA Player S|Page * Sandra Day O'Comor, Fist female Justice of Supreme Court Lonel Richie, SingeSongariter (Aintrmaon oped by Dr. Grog Dlareet ot waw mated) ‘An Economics Major Prepares Students for Community Leadership ‘A knowledge of economics and an understanding of curent economic instutons and problems ‘are not only essential fr certain occupations, but for leadership rales as well. Economics can sere as an avocation 2s well as a career foundation, AS a person knowledgeable about economics, you may pla leading roe in a local or national political party, a civic cub or ‘organization concemed wi the local economy, a union or teacher's association, or be an informed ‘commentator on curent issues in any seting. Few disciplines re equal to economics in preparing ‘one fo bean interested, neresting, and understanding observer of passing evens anda leader in ‘making decisions that require understanding economics. Reasons for Avoiding Courses in Economics ‘There are reasons why stdents avoid studying economics. Other disciplines may simpy be more atacve; something else may intrest sudents more. Here are some reasons for avoiding economics. Economics is a Quanttave Social Science Some students find that mathematical thinking is diffe, or they simply lack a mathematical background or interest. While iis ttue that much of economics is presented in a nasratve- descriptive form, mathenatics is frequently employed as a way to understand economic phenomena because of is greater precision and carly. tis possible, however, fora student who has only a basic knowledge of algebra, geometry, and introductory calculus to major suocessfuly in economics. Lak of inrest and ability in mathematics, however, would make it unlikely that such a student would do wel in graduate studies in economics. Science, even social science, isa bore to some students and a threat fo others, They re unwiling to employ a method that begins wih careful observation and prooeeds to hypotheses, then to testing and possible verfcaton, and finaly oa tentative conclusion, f you are unwiling fo accept the constraint of scientific methodology, perhaps you should look elsewhere fora major Economics Involves Abstract Thinking and Theory Sure students have an aresion fo theoetcal thinking. They defend ther aversion by saying mat theory is impractical or ielevant. Their mins trve on the concrete, the real, but thy are tuned ‘ff by theory. Underying tis attude &s a val complaint. Teachers of @ science, such as ‘economics, tat nas developed an extensive theoretical system sometimes make mastery of theory the primary goal of their teaching, rather than using theory as a tool for understanding real problems. Thus, students may legiimalely complain thal, while economics is potentially the most relevant ofthe social scieroes, itis sometimes taught a itis har elated to the eal word, You ‘ean overcome this problem by ming theory courses with applied, poly-orented courses or by challenging your professors to offer more concrete examples and applications ftheary. oP Economics isa Narrowly Focused Discipline ther social scenoes often study society or societies asa whol, including their economic aspects {for example, anthropology, history, oF sociology). Economics tends to exclude many very Important aspects of socely. It usualy takes as given the tastes and preferences, the family relationships, the potical sutures, ad the goals of society, and leaves those questons to other field of stud, If social science or soca philosophy is what you realy want to study, then you should consider ‘another major. On the ether han, ihe economic sie of life eal fascinates you, ad you wat put what you leam in your economics courses in the context of social instituons and social plilosophy, you could majp in evonamics and use electives outside of economics to broaden this sometimes narowly focused discipline Economie Reasoning Can Seem Stiting Economists are always considering costs; that is, they are constant reminding people that choices usualy are made al the cos of ober things. Economic s @ conservative science in tha it seems to make people auae of possible costs of change. The economic way of thinking may lead to an obsession wih efciency, ie. with improving the organizations of society with the purpose of ating whatever society vaues. In ts defense: ‘Aled Marshall sai, Economics isa science concemed with tho ‘ator moans to a vefined and rote ite.” Before itis possible to be creative tis fist necessary fo be productive. If you are a creative person, you might want to combine an Economics major with some complementary discipline, perhaps from the creave arts. Such a combination might enable you to become an nilectual leader in the effort to broaden the scope and perspective of economics orto develop new applications of old methods to achieve new purposes. Economics is an evolving social science, ad you could pay @ oe in its evolution, Career Opportunities for Economists Jacob Vine, the teacher of many great economists, nce described the nature ofthe dsclnine a, "Eoonomics i what economists do." ‘nat tat an economist does? According to the Nabonal Science Foundation, an economist is someone wh has had professional training in economics at the graduate lvel and isa member of 8 professional grup, such as the American Economic Associaton (AEA) or the Natonal ‘Associabon of Business Economists (NABE), “The economists jb ite may or may nat include the word economic or economist, particularly if his or her background is imited to an undergraduate major in economics. Instead, @ Bachelor of ‘Arts (B.A, economists ly to ave ajo that makes use of traning in economics asa basis fora Poston in personnel, maragement, marketing, education, or some oer fell? Undergraduates apply for jobs wit tes such a analyst (in france or marketing or government poicy, for ‘example, manager, planer, coordinator, teacher, or consultant, but rarely eoaneist. Hf you want to be an economist as such — fo pursue one ofthe three traditional creer paths of academia, ‘goverment, or business — you wil usually need graduate raining, ‘The Academic Economist ‘Almost hal of all professinal economists are college teachers. A Ph.D. degre is essential to teach at a fouryor eologe. Junior cologe inarutors usualy have @ Master's degree in ‘economics, but a Ph.D. or work toward a Ph.D. may be requited, ‘A new PhD. graduate generally begins an academic creer os an assistant professor. Most starting slates in 2017 ranged fom $113,000 o $158.00, depending on he academic program of he unversiy. Salas ary widely wit th type of school nd he area ofthe county, a well 2s the paricular sks and area of spociaizabon that the new faculy member fas 10 offer. Responses usualy inde teaching fom two to fur courses a term, Promotion to asocita proessr and tenure (pemanent employment) ‘pica aks fom tree to seven years. At mare presigious schoo, he ue fr promon and tenure i ‘publish or parish Faculy mentors must publsh aries (and, increasingly, cian research grant) inorder o be promoted, Promotion i te ful professor rank usvaly occurs fom fve Io 15 years afr the promotion to associate professor, depending on te candidate's research record, publcaton, and teaching abi ‘Academic economists often supplement their incomes by wing textbooks and other educational materials and by consulirg. In recent years, economists have provided consulting services for @ variety of cents in such dverse areas as envionmental quay, heath cae, public education, the value of human ie in lawsuits, rural development, and industrial ication. ‘The Business Economist The rapidly growing probssiona field of Business Economics reflects the increased use of ‘economics 36 a business tool. For many years the business community disdained academic training and expressed a preference fr pracical experience, Early business schools were largely training grounds for middle managers, founded to teach accounting and practical management stils. Any contact that these early business students had with economics was accidental and usualy unsatisfactory, economists were considered theoretical ivon-lower dreamers. Berard Baruch, the famous industalist, was reported to have defined an economist as a man witha Phi Beta Kappa key on his wath chain, but no watch! Today's economics couse play @ major ole in the general business curcuum, The increased Interest in the uses of ezonomics in business is abo reflected in the inoeasing number of ‘tadvate-tained economists in the business community and on the faulty of business schools, * ey few underrated ed tbsp whch eo cassia the sane a he sues mae. ‘Azcourang ae ongieong 90 eco (Mae » aed on 86 reports unhosisinthe American Economie AsoitonUNQ Suma 2027 BIPae Economists today are four throughout the business community rom top management postions down through the company hierarchy, It is most tikely that an economist would begin a business career ina fms Economics Department. These organizational dvsions undertake a variety of tas, including forecasting the ‘general business envronnent and how it might affect markets in which the particular fr operates, interpreting the efects of covemmental policy on the fim, and gathering and processing economic data. From this beginning the economist may move ino the management sie ofthe business ‘organization. in this manrer, the economists folowing the same career path offen pusued by ‘engineers, accountants, and lawyers who work for private business fms, Eusiness economists receive excellent salaries and are in great demand. The lxgest employers of economists, according to the NABE ae fis engaged in manufacturing, banking, business senices, and secures and investments. in 2018, persons with an Economics Bachelors degree recived median stating salary of $69,000 a year, a Masts degree received a median staring salary of $76,000 ‘The Government Economist Since the New Deal era inthe 1930s, economists have moved ino the forettont of govemmental policy analysis. In recent years, economists have begun to displace political scientists and lawyers in top government administrative posts. Recent presidental cabinels have included a high ‘proportion of economists ‘There are postions for economists in every federal govermental agency, primary as policy analysts. few osions ae avaiable t junior grades for economists wih undergraduate degrees, but most government economists must possess an Economics Maste's or Ph.D. degree. There ‘ate jobs for labor economists, intematonal economists, agricultural economists, development ‘economists, public finance economists, and population economists, as wel as macro and micro ‘economists, The dutes ofa governmental economist are very diverse and in large part depend on the particular governmental agency. For example, in the State Department orth CUA an econonist right become an expert onthe economy of a particular county: inthe Office of Management and Budget, an expert in a program area such as welfare o health care; and at the Treasuy, a specialist in tx ply. Until the 1970s, excopt fr the Joint Economic Committee, very few congressional committees or individual congressional sas hited economisls. Since 1974, the Congressional Budget Office, lahichis stated by econonisis, has become an important research arm of Congress, It serves the same research role asthe Office of Management and Burlget does for the President, Legislation {and issues facing Congress are becoming increasingly complex and economic m nature, AS a result, Congress i tuingto economists fr expert advice on these isues. Salaries for goverment exonomists vary by region. In 2018, in rida, an individual wih a B.A. or ‘2 Bachelor of Science (8) degree and a least 21 semester hous in economics could get a job atthe GS5 or GST level, which paid a starting salary of $33,799 and $41,868, respectively, An Economics Masters degree qualifies one to start wark atthe GSS level a $51 214 per year, and @ 9|[Pave __—! Ph.D. qualies an indvdil to start work atthe GSt11 level at $51,983 per year. For more informaton on jobs wit the federal goverment, visit www.usaobs.gov ‘Another area of employment for economists i in stale and local government State government ‘economists pay a wide vey of roles, just as they do in he federal government, bu there aro a few diferences, ‘Slate economists ae mare likely tobe inolved with Microeconomic problems and issues because Slates do not carry out independent monetary and fiscal poly. They are also likely to be less ‘narrowly specialized, worng on a varety of problems and issues. Developing strategies for state ‘economic development, comping state economic indicators, interpreting the impact of changes in federal poicy on sate agencies and programs, and developing good stale and regional databases are all important response fr state government economists. Alost all stale govemors now hha the series of at east one economist ina high administrative poston, ‘Ate state and local level the primary areas f research by economist ae labor market analysis, school finance issues, stale and local taxation and tax reform, natural resource and environmental |ssues, and budget expenditure analysis Economist ae also moving info important administrative responsibil in stale and local government US. ones o Personal Manizment Setares an Woges W)Pase ‘ACADEMIC: RESEARCH: BUSINESS: SPECIAL INTEREST GROUPS: GOVERNMENT: rs in Economics Teaching research and witing andor administration at a ‘+ major university ‘graduate schoo! 1 slate college ‘smal private college junior coege technical school secondary school Ina private or public economic research organization Forecasting, planning, and oer economic tasks for = banks and feancialintituions ‘manufacturing * wholesale and etal trade mutational fms Consutg for private firs and public agencies E:onomic jours Marketing research Esonomic advisor, interpreter, defender, speech writer for * obbyingresearch organizations * political paty candidate Policy analysis or statistical wrk for * intematona agencies * federal, state, or local government PART Degree Programs Frequently Asked Questions about the Bachelor's Degree Programs: ‘This section answers a number of commany asked questions wich deal mainly with curiulum mates. While this secin of he handhank i designed n help you 8 not the final word on ‘equiemenis. The univesiy catalog is the ofl statement of requirements and al tudes should stud carey All Economics Majors HOW0 | BECOME AN ECONOMICS MAJOR? Go to mun.cas ust edu/teclar and complete the omine form. Youll need to fa in using your USF NetiD and password ‘There are two types of Economics majors: > Economics B.A: Best sued for students intrested in general analyst poston, law school, MBA or Public Plc programs. > Quantitative Ecenomics and Econometrics (QEE) B.S.: For those planning on (taduate school, cr who are more mathematically incined, ‘As an Economics major it the CAS, you must lake a foreign language and usually have enough lective credit hours to double major, minr, or tke a variety of courses outside your major. Depending on which maje you choose, you wil ether receive a B.A. or BS, degree when you graduate. ABS. degree wil not require aforeign language HOW DOI'START THE MAJOR? WHICH COURSES DOI TAKE FIRST? General, students take ECO 2013 Macroeconomic Principles in their frst semester, and ECO 2023 Microeconomics Principles in their second semester, but a student is alowed to switch the order of the Principles courses during thor fis year. To meet the statstes requitement, students take STA 2973 ce QMFL 2400 and OMR. 3200 in these ist tao semesters. It should be ‘noted that students canna take QMB 3200 until Junior standing is accamplished, and MAC 2233 cor MAC 2311 is completed itis aso encouraged that students tae MAC 2233 or MAC 2311 within their fist andior second semester as itis a prerequisite fr addtonal economics courses the students wil ned fo take as they progress through the Economies major. Altematvely, students ‘ho fee less confident inter math skits can take ECO 2052 Analytical Tools for Economists HOW MANY HOURS CAN TAKE INA SEMESTER? Depending upon your wot schedule and which courses you ae taking, 12 to 16 hours is bout average. Excollnt students sometimes lake more, Students who work ma fake less, Ifyour GPAs low and youneed to raise it to graduate, donot ry to take more hous ina semester, Tate fewer courses and make sue you do well WHAT ARE THE FOREIGN LANGUAGE REQUIREMENTS? ‘There are two foreign language requremenis: one for enty to USF (FLENT) and one to ext (FLEX. FLENT is met by aking two years of foreign language in highschool. Ths wil cover the BS. EE FLENT requirement. FLEX is met by taking two semesters ofthe same foreign language with a grade of Cor beterin the second semester or by demonstrating competency by passing an ‘exam, Tis wil cover the B.A. Economies FLEX requirement WHAT IF DIDN'T HAVE ANY FOREIGN LANGUAGE IN HIGH SCHOOL? USF sometimes aximits students who graduated from high school out of slate or before the requirement was estabisted. If you didnt meet the FLENT requirement, you may salisfy it by faking two semesters ofthe same foreign language al the college level. If you receive a grade of C corbetir in the socond semester, this also sais the exit requirement. ‘CAN I TAKE ANERICAN SIGN LANGUAGE AS MY FOREIGN LANGUAGE? Yes. American Sign Language has been approved as a foreign language by the Economics Department WHAT ARE THE FOUNDATIONS OF KNOWLEDGE AND LEARNING REQUIREMENTS? ‘The State of Florida requis all gneral education programs tobe 26 credits OF hese, 1S must be taken from the state approved 23 courses, and an additonal tree must be in computation. This leaves 18 credits for USF to conto, with the requirement that si of those credits have multiple writing assinments an tre be in English. In designing thse remaining 18 hours, we pu student needs fst, alowed for bcader departmental paricpation in the general education curiculum, remained closely connec to our QEP, an focused on key learning outcomes, Note: Foundations of Knowledge and Leaming requirements vary by catalog year. Pease follow up wth your academic advisor fo ensure you are meeting the corec requirements, WHAT ARE REPEAT COURSE SURCHARGES? Fotda legislature requires USF to charge students the fl uton cos equivalent to nonresident tuiton) when they repeat aciass thre or more times. Al attempls (including W, SIU, and | grades) ae counted CAS Economics B.A. Degree Program WHAT ARE THE REQUIREMENTS TO ENTER THE MAJOR? There are no requirements to ee the major. you are enrolled a USF, you are egbe WHAT ARE THE REQUIREMENTS TO GRADUATE? Inorder to graduate you ned + 120total credit hous = tomeel the FKL requirements * tomeetthe Gordo Rule requirements * tofu the foreign anguage requirement = tomeet al the maj requirements * tomainlan 2.0 GPA in your major, USF, and overal grades * a minimum of nine hours of summer course werk *42.credit hours of pper level courses 3000 or higher * BLA. 12 credit hous of upper level 3000 oF 4000 eoonamics elective course work must be taken at USF Tapa BSS. 18 credit hous of economics course work must be taken at USF Tampa ‘30 hous out of your last 60 hours must be taken at USF Tampa DO ALL MY GRADES HAVE TO BE'A “C" AND ABOVE? ‘Starting in Fall 2012: For students in the 2012-18 undergraduate catalog, you must obtain a grade of C- higher in ll courses required forthe mejor or minor Economics. In adton, a grade point average of .0 or beter must be maintainedin major or minor coursework. ‘Students Prior to Fall 20°2: ‘You must eam a C- or bee in Macro or Micro Principles, Intermediate Price, and any economics course thats prerequiste to another course. In addon, you must maintain @ 2.0 grade pont average for your major. If for example, you have @D in one couse, you must have a Bin another ‘course to balance it out Department of Economics DIF Policy: Al students entering USF ir the fs ime in Fl 2012 or ater, who earn three D andlor F grades in any ofthe folowing couses at USF: ECO 2013, ECO 2023, ECO 3101, ECO 3203, STA 2023 (o« GMB 2100), (QMB 3200, prior to Fall 2015) and ECO 2062 (or MAC 2283, MAC 2311 or equivalent) wil be required to change ther major to a major more appropriate to their goals and academic perfomance, ard to a major tats not conered by the Economies Deparment through the CAS, ‘Al continuing studenis to entered USF price o Fall 2012, who have NOT eared any D or F ‘grades in any ofthe folowing courses at USF. ECO 2013, ECO 2023, ECO 3101, ECO 3203, STA 2023 (or QMB 2100, (CMB 3200, prior to Fal 2015) and ECO 2062 (or MAC 2233, MAC 2314 or equivalent) by the begining of Fall 2012, wl also be allowed three D andlor F grades in ‘those courses before berg requied fo change theic major to a major more appropiate to thei goals and academic peromance, and to a major that fs not conferred by the Economics Department trough te CaS, ‘lL continuing students who entered USF prior 1o Fall 2012, who HAVE earned one or more D or F grades in any ofthe folowing courses al USF: ECO 2013, ECO 2023, ECO 3101, ECO 3203, ‘STA 2023 (or GMB 2100), (QMB 3200, prior fo Fall 2015) and ECO 2052 (or MAC 2233, MAC 2311 of equivalent) by te beginning of Fall 2012, wil only be allowed two more D andlor F ‘grades in those courses tefore being required to change ther major to @ major more appropriate fo their goals and acaderic performance, and toa major that isnot conferred by the Economics ‘Department though the CAS. Grade forgiveness wil NT apply tothe mandated requirement of changing majors. WHAT ARE THE UPPER LEVEL HOURS NEED? ‘Students need 42 credit hous that are numbered 3000 and 4000 level. When you complet your major, you wil have eared 21 of those hours. The other 21 hours can be in any ather area or department. WHAT APE THE ECONOMICS B.A: MAJOR REQUIREMENTS? ‘There are 33 credit hours of economics courses inthe major, The 18 hours of required courses ‘ae Macro and Mcroecenomic Principles, Analyécal Tools for Economists (or Calculus I) Inodictory Statistics |, Inermediate Price Theor, and Inlermediate Macroeconomics, The other 415 hours are economics electives, which you may choose from among those offered in any semester. About sic are offered each semester. The selection changes fom semester 10 semester. WHO WILL BE wy ADVISOR? CCAS Economics majors te advised by the department advisor located in room CMC 2068, ‘Appoiniments can be made via the e-scheduler system. USF Students: tipvleschedue forest us edulogn aspx Non USF Students: fp /aschedul forest usteduhonstudentoginasor HOW OFTEN SHOULD I SEE THE ADVISOR? You should see the advisor every semester. The atisor wil help you intentionally discuss the mets ofan Economics majr, and discuss options for future academic planing, “The aso wil help you Dalnce your worload so that you dat take several ficut classes in the same semester or fai sais the prerequisites fr courses you need ‘At the end of the adsing session the atisor will make a record ofthe economics courses you tna and yve you a copy oF your use HOW DOI APPLY TO GRADUATE? In the fst two weoks ofthe semester in wich you plan to graduate, complete the graduate application onine through your student OASIS account. If you haven't had a graduation check completed, vst the adviser and do itnow. Don't wait unl the last minute, The advisor may not be avaiable when you get arcund tot If you plan to partcpate in the commencement ceremony, please register at the commencement ceremony website: Htpssfweb? ust edulcommencementindex asp wihin the fist two weeks of your respective graduatonsemeste. Here is worksheet forthe CAS Economics B.A. major. Use it and the Ist of requirements on the previous page to see if you have all the classes needed for graduation CAS Quantitative Economics and Econometrics B.S. Degree Program WHAT ARE THE REQUIREMENTS TO ENTER THE MAJOR? Ther are no eqitements enter the mj you are enoed al USF, you ae eg {WHAT ARE THE REQUIREMENTS TO GRADUATE? In order to graduate you need + 120 total elt hous * 42.redit hous in upper level courses 3000 or higher * fomeet the FKL equrements + tomeet the Gorden Rule requirements + {ofall the foeignlanguage requirement + fo moot al the maor requirements * tomaintan a 20 GPA in your major, USF, and overall grades +a minimum of nine hours of summer hours + BA. 12 credit hous of upper level 3000 or 4000 economics elective course work must be {taken at USF Tarpa B.S, 18 credit hous of economies course work must be taken at USF Tampa ‘30 hours out of your lst 60 hours must be taken at USF Tampa DO ALL MY GRADES HAVE TO BE A "C" AND ABOVE? ‘Starting in Fall 2012: For studenis in the 2012-13 undergraduate catalog, you must obtain a grade of C- or higher in a courses required forthe major or minor in Economics. In ation, a grade pont average of a 20 or better must be maintained in majr or minor coursewerk. ‘Students Prior to Fall 2012: "You must eam a C- or bate in Macro or Micro Principles, Intermediate Price Theory and any economics course that i a prerequisite to another course. In dion, you must maintain a 20 average for your major. fr example, you Nave @D In one course, you Must have @ Bin another course to balance it ou Department of Economics DIF Policy: Al sudentsenfring USF ‘rte st ime in Fall 2012 or ater, who eam three D andor F grade in any ofthe folowing courses al USF: ECO 2013, ECO 2023, ECO 3101, ECO 3208, STA 2023 (oc GMB 2100), (QMB 3200, prior 1o Fall 2015) and ECO 2052 (or MAC 2233, MAC 2311 or equivalent) wll be required to change thei major to a major more appropiate to thelr goals and 17|Page ‘academic perfomance, ard to a major tha isnot confered by the Economics Department through the CAS, ‘Al contnung students wto entered USF prioco Fall 2012, who have NOT earned any D or F grades in any of the folowing courses al USF: ECO 2013, ECO 2023, ECO 3101, ECO 3203, ‘STA 2023 (or QMB 2100, (CMB 3200, prior to Fall 2018) and ECO 2062 (or MAC 2233, MAC 2311 or equivalent by the begining of Fall 2012, wil aso be allowed three D andlor F grades in those courses before being required fo change ther major to a major more appropriate fo ther goals and academic peromance, and fo a major thal is nat confered by the Economics Department trough ite CAS, ‘Al-coninina students who ented USF pir to Fall 2012. who HAVE earned one of more D or F grades in any of the folowing courses al USF: ECO 2013, ECO 2023, ECO 3101, ECO 3208, STA 2023 (or QMB 2100, (QMB 3200, prior to Fall 2016) and ECO 2062 (or MAC 2233, MAC 2311 or equivalent) by he begining of Fall 2012, wil ony be allowed two more D andlor F grades in those courses telore being requied fo change ther major a majo more appropriate to their goals and acadec perfomance, and to a major that isnot confered bythe Economics Depariment through the CAS, Grade forgiveness wil NOT aply tothe mandated requirement of changing majors WHAT ARE THE UPPER LEVEL HOURS | NEED? Students prior to Fall 2015 wil need to complete 48 credit hous that are numbered 3000 and 4000. When you complete your major and exit courses you wil have eamed 2 of hose hous, The ‘other 21 hours can ben ay oer area or department ‘Students stating in Fall 2015 wil need o complete 42 credit hours that are numbered 3000 and 4000. When you complet» your major and exit courses you wil ave eamed 15 of those hous, ‘The ober 1Shours can bein anyother area or depariment WHAT ARE THE QUANTITATIVE ECONOMICS AND ECONOMETRICS ‘B.S. MAJOR REQUIREMENTS? ‘There ate 33 creit hours of economics courses inthe major. The 30 hours of required courses are Macro and Microeconomic Principles, Analyical Tools for Economists (or Calculus 1), Inroductory Statistics |, Inermediate Price Theory, Intermediate Macroeconomics, Introduction 0 Mathematical Economics, Inroducon to Econometis, and two ofthe following three courses: ‘Advanced Price Theory, Advanced Macroeconomics’ Theory, Forecasting and Time Series ‘Analysis. The othe thre tous ae economics electives, which you may choose fam among those fered in any semester. About six are ofered each semester. The selection changes from semester o semester. WHO WILL BE My ADVISOR? CCAS Eoonomics majors are advised by the department advisor located in room CMC 2068. ‘Appointments can be mad vate e-scheduler system, USF Students: ito eschedule forest ust eduflogin aspx Non-USF Students: hpescheduie forest ust edufnonstudentoin aspx HOW OFTEN SHOULD I SEE THE ADVISOR? ‘You should see the advisor every semester. The advisor wl help you intentionally discuss the mets ofan Economies major, and discuss options for future academic planing “The advisor wil help you Jelance your workload so that you dont ake several dificult classes in the same semester or fab sais the prerequisites fr courses you need ‘A the end ofthe adising session, the adisor will make a record ofthe economics courses you need and give you a copy or your use HOW DOI APPLY TO GRADUATE? Im the frst two weeks ofthe semester in which you plan fo graduate, complete the graduate application online through your student OASIS account. Ifyou haven’ had a graduation check ‘completed, vs the adviser and do itnow. Don't wat unite last minue. The advisor may not be avaiable wen you gt arcu to it Ifyou plan to participate in the commencement ceremony, please register at the commencement ceremony website: htp:sweb? ust edulcommencementindex.asp within the fist two weeks of your respective graduation semester. Here i a worksheet forthe CAS Quantitative Economics and Econometis B.S, major. Use it and the lst of requements an the previous page to see it you have all the casses needed for sraduaton. CAS Quantitative Economics and Econometrics B.S. Degree List Refer to USF Catalog for more detail. Name va USF GPA Overall GPA HOUR CONSTRAINTS: USF (20) Upper level (48 0 42) ‘Summer (9) (uiside major (80) MAJOR REQUIREMENTS (30) ECO 2013 Macro Princes ECO 2023 Micro Principles ECO 3101 Intermediate Price Theory ECO 3203 termediate Macro STA2023 Stat ECO 2062 Analytical Tools ECO 440 Into, to Math Economies ECO 4421 Ino, to Econometrics Choose two ofthe folowing ECO 4105 Adv. Price Theory ECO 4421 Adv. Macro. Theory ECO 4935 Special Topic: Forecasting & Time Sess MAJOR ELECTIVES (3) Major GPA, Major residency (F2UL Hows) FKL REQUIREMENTS (42) ‘General Education (38) Eng. Comp. (8) (Quant. Methods (6) Natural Science (LePhysical (6) Soxial Science (6) Humanities (6) Fine Arts @) Hum. & Cult Div & Gbbal (3) [Page HHP (6 credits) xis Wiig Intensive (3) Capstone (3) OTHER REQUIREMENTS. FLEX GR Comm. (Fr. Eng. 3) GR Comp, (6: MGF or MAC) Hours towards Bachelors Have Major FKL FL oR Upper Ouside Total kc. (o 120) Master of Arts Degree Program The Economics Department at USF offers @ Master of Ars (MA) degree through the CAS. Students are requed to complete 30 hours of graduate credit with a minimum of 24 hours in ‘economics. fulkime stent may complete the program na single calendar year, although most students tak four semesters, Program Requirements The MA. in Economics is a terminal degree, designed to prepare students for en into business, ‘government, o further stuiy in a Ph.D. program. In adn to the requited courses listed below, ‘we curently offer the folowing courses: Urban and Regional Economics, Economies ofthe Public Sector, Advanced Econonetics, Industial Organization, Healt Economics, Issues in Regulation and Anitust, Economic Development, Intemational Trade, Theory, and Labor Economics, Students must saisfy al university requirements for the Masters degree. In. addition, the that i covered extensively in ECO 3703. The course begins by considering how inematonl transactions are measured in the naonal accounts. In particular, me study the determination of nominal ad real exchange rates in the shot run and inthe long run ‘The second half ofthe course concentrates more onthe policy implication ofthe theory. We fst 2|Paze consider the chronology ointemational monetary arrangements stating wih the gold standard of the late 13th Century, coninuing tothe fied exchange rate regime of the Breton Woods System, What lead to the break of retin Woods, and more recent, te move towards foatng exchange ‘ales among most nation ofthe world. We conclude by sludying the causes of recent currency crises in Latin America and Asia as wel a the operon and effcacy of curency unions such as is ‘atin place in much of Westem Europe. ECO 4935 - Forecasting and Economic Time Series (Prerequisite -One semester of {econometis and one of ais famiiay with Gauss-Markov theorem, and comocable wth standard statistics distibutons and tes, ie, Hess, Hess, ee) This s a subfield of econcmetis, specializing in data thal are generated through time. I willbe a vary data intensive cass wih week projects, ECP 3125 - Economics of Income, Poverty and Discrimination (Prerequisite ECO 1000 or ECO 2013 or ECO 2023), This course examines the economic dimensions of income inequality, poverty and discrimination. The course begins with a review ofthe fools of economic analysis fat are mast useful in these ‘areas of economics. The economic functions of government are discussed, Variations in economic ‘analysis of markets and govemment across the pollical economic spectum are exarined, The main body ofthe course then focuses on economic facts, theories and public poles conoering income inequalty, poverty and dscinintion ECP 3201 ~ The Economics of Women and Work (Perequsies ECO 1000 or ECO 2013 and co 2023), This course is designed W» acquaint students with the findings of research on women, men, and work in the labor market and the household. Ar being introduced lo basic concepts of labor economics, students then consider some historical perspectives about women's roles and various slates of economic development, as well as some anthropological insights, ‘The family is tuted as 1 economic unit looking at dvsion of aborn the household and in the marketplace both rom the neocasscal perspective and from aher points of view. Examination of gender dferences in occupations and eamings occupies a major focus of the course. The human capital models used for analyss, as well as various models of csciminaton Poly issues suchas equal employment opportunity ae examined inthis contex. Finaly, students study changing work rles and the family, and gender ferences in other ‘counties. Students are required lo write a research paper and make a presentaton basod on their research, This isnot a course forte fant of heat but provides an excellent oppartunity for students to ‘explore further the richness of economic theory and its appicatons. This course fs highly complementary to Labor :onomis (ECP 3203) 29[Page ECP 3203 Labor Economics (Prerequisite ECO 3101) This course examines the manner in which the laws of demand and supply apply to labor markets ‘The focus is on the eolanaton of factors that determine the overall level of wages and ‘employment, 2s wel a for that explain the relationship between education and earings. The ‘course also considers facts that expan dferences in wages across occupations, industries and ‘demographic groups inthe U.S. Also examined are the effects on labor markets of monopoly and Imonopsony, racial and sex dscriminaion, and colecive bargaining. Government regulations of labor markets, such as minimum wage laws, an

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