Global Economics

GLOBAL ECONOMICS
Global Economics majors study economics in the context of a particular geographic area, incorporating language study, area study, and study abroad into their academic plan. Students who complete the program will develop a sound understanding of economics in an international context, focusing particularly on one geographic area. The program also increases the educational opportunities of undergraduates to develop critical thinking skills and gain experiential learning opportunities in the area of international economics. Employment opportunities for well-trained graduates in Global Economics are excellent in government, international trade and finance, and industry.

Admission to the Major: All global economics students are eligible to apply to specified EAP programs as long as they are in good standing and have the permission of the Director of Undergraduate Study. Students who are not accepted to a study abroad program or who do not meet the foreign language or area study requirements are advised to complete the general economics major as a fallback alternative.

Economics Requirements: All students will be required to meet the general requirements of the economics major:

    * 1 Introduction to Microeconomics
    * 2 Introduction to Macroeconomics
    * 11A and 11B* Math Methods for Economists
    * 100A or (100M) Intermediate Microeconomics
    * 100B or (100N) Intermediate Macroeconomics
    * 113 Introduction to Econometrics
    * Applied Math & Statistics 5* Statistics
    * The comprehensive examination is also required for graduation.

Additionally, students must take TWO (2) comparative or international economics courses from the list that follows. Note that at least one of the courses must be either Econ 120, Economic Development; Econ 140, International Trade; or Econ141, International Finance.

    * ECON 120 (Economic Development)
    * ECON 126 (Why Economies Succeed or Fail)
    * ECON 131 (International Financial Markets)
    * ECON 140 (International Trade)
    * ECON 141 (International Finance)
    * ECON 142 (Topics in International Economics)
    * ECON 148* (Economies of Latin America)
    * ECON 149 (Economies of East and Southeast Asia) - if area is Asia
    * ECON 188 (Management in the Global Economy)

    * LALS 140* (Rural Mexico in Crisis)
    * LALS 168* (Economic History of Latin America)
    * LALS 169* (Latin American Industrialization in a Global Perspective)

    * POLI 140B (Comparative Post-Communist Politics)
    * POLI 176 (International Political Economy)
    * POLI 178 (U.S. Foreign Economic Policy)

    * SOCY 163 (Global Corporations and National States)
    * SOCY 167 (Development and Underdevelopment)

* If area is Latin America

Students must also take THREE (3) (TWO if fall 2013 & after) additional upper-division economics courses from the list of all upper-division courses offered by the Economics Department.

In certain cases, particular upper-division electives may be designated to meet more specific concentrations, such as international business or development.

Area Studies Requirement: Students meet the area study requirement by taking two courses from a selected group of courses from other departments which focus on the history, political economy or culture of some other part of the world. Unless there is a specified reason, the two courses typically concern themselves with a particular area of the world in which the student's language study and overseas study are concentrated. The Department provides a list of approved courses (PDF). Substitutions from this list are welcomed when they are part of the students overseas program or from other UCSC courses approved by the Director of Undergraduate Study.

Foreign Language Study: Global Economics requires evidence of proficiency in a language other than English. Students can meet this requirement by completing two years of university level language courses up to UCSC level 6 or by demonstrating an equivalent level of competence through a recognized language test.

The intention of this requirement is for students to have enough fluency to read, write and speak with others in a language which is relevant to their study area. There are numerous possible major languages. The Department will make an effort to help students demonstrate proficiency in the language of their choice. Language placement and competency tests available on campus will be used. In the case of languages not taught on this campus (for example Korean or Swahili) arrangements will be made for proficiency verification with other members of the faculty, or with community members who have language ability in selected areas. Two-years of language study is standard, although we recognize that certain intensive language programs such as the UCSC Summer Language Institute or overseas EAP language study may be weighted more heavily.

Study Abroad: All students are required to spend at least one semester in overseas study in an approved course of study, usually but not necessarily through the UC Education Abroad Program (EAP). Numerous overseas study sites are available through the EAP office. Students may also choose a year-long program. Use of these programs requires full application to EAP. As the course offerings at the various EAP centers differ, the student will want to plan carefully the appropriate plan of study. The student may use the time spent abroad to further language study, to meet the Area Study course requirement, or to meet some of the upper-division economics course requirements. Programs other than the UC EAP study abroad program must be approved by the Director of Undergraduate Studies to ensure that credit earned is transferrable toward the UCSC degree. One such program with which we work closely, is the Campus Abroad Program at Foothill College, which offers paid summer jobs and internships in Europe, South America, and Asia. The Department provides a list of pre-approved EAP courses (PDF). Substitutions from this list are welcomed when they are part of the students overseas program.

Additional Requirements:  Disciplinary Communication (DC)
Students of every major must satisfy that major’s upper-division Disciplinary Communication (DC) requirement.  The DC requirement in economics is satisfied by completing ECON 197, Economic Rhetoric, or ECON 104, Is There Truth in Numbers: The Role of Statistics in Economics.

Courses 104, 191, 192, 193, 193F, 197, 198, and 198F may not be used to meet major requirements. Either course 195 or 199 may be used to fill one of the upper-division major requirements.

Mathematics requirement: Successful completion of Economics 11A and 11B, Mathematical Methods for Economists (or equivalent; two quarters) and Applied Mathematics and Statistics (AMS) 5, Statistics, is required of all economics majors. Economics 11A and 11B are prerequisite to Economics 100A/M, Intermediate Microeconomics and 100B/N, Intermediate Macroeconomics. Economics 11B and AMS 5 are prerequisite to Economics 113, Introduction to Econometrics. Therefore, students are advised to take Economics 11A-B or its equivalent as early as possible in their undergraduate career. Mathematics 11A-B, Calculus with Applications (two quarters) with Mathematics 22, Introduction to Calculus of Several Variables or Mathematics 19A-B, Calculus for Science, Engineering, and Mathematics (two quarters) with Mathematics 22, Introduction to Calculus of Several Variables are acceptable equivalents to Economics 11A-B.  AMS 7, Statistical Methods for the Biological, Environmental, and Health Sciences, is an acceptable equivalent to AMS 5. Students planning to do graduate work in economics or business should seriously consider more intensive mathematical training (consult adviser). Students who are committed to the major early in their academic career should plan to complete Economics 1, 2, 11A, 11B, and AMS 5 by the end of their sophomore year.

Students planning to do graduate work in economics or business should seriously consider additional work in mathematics. A suggested program would include the following: Economics 1, 2; Mathematics 11A-B or 19A-B, 21, 22, 24; Economics 100A/M, 100B/N, 113, 114, 115, and three other upper-division courses in economics.

COMPREHENSIVE REQUIREMENT
A comprehensive examination is required of all business management economics, economics, global economics or economics/mathematics majors.  (Please see other options for economics/mathematics combined majors under that listing.)

The comprehensive requirement for the economics major and the combined economics/mathematics major is satisfied by passing the following intermediate core courses with grades of C or better here at UCSC: Economics 100A or 100M, and 100B or 100N, and 113. Students may elect to complete a senior thesis with consent of an instructor in addition to completing the intermediate core courses.