Spring 2019 Newsletter

Welcome to the Economics Department’s spring 2019 newsletter! This newsletter serves to inform everyone of upcoming events, activities and opportunities brought to you by the Economics Department. This final newsletter of the school year is filled with recognition of students with notable achievements and exciting news for the upcoming school year!

If you have questions regarding courses, forms, internships or anything else, please visit us at the advising office in Engineering 2, room 401! We have drop-in advising hours on weekdays between 9 a.m.-12 noon and 1-3 p.m.

- Your Spring 2019 Economics Peer Advisors

Letter from the chair
Awards
New staff highlight
Field study
Graduation news
Graduating peer advisors: upcoming journeys
Why peer advise?
Did you know?
Transfer student tips
UCDC and UC Sacramento
Events recap
Upcoming events 
T-shirts
Summer courses
Additional fall course offering
Stay connected

Letter From the Chair Kenneth Kletzer

This has been another eventful year for the UCSC Economics Department. As the end of the academic year approaches, we are looking forward our seniors celebrating their graduation and moving on to the next steps in their careers and life. We are especially proud of our undergraduate majors who have accomplished so much at UCSC. This year, about 500 students will receive their bachelor's degrees with majors in economics, business management economics, and global economics, as well as with joint degrees in economics and mathematics, and in environmental studies and economics. Economics graduates go on to great careers, positions of influence, and make significant contributions to California and the world. Many of you will use the economics tools you’ve learned at UCSC in the course of your careers, and all you will take advantage of the insights of economics as citizens. UCSC economics students reflect the diversity of California and include many students from around the world. Our campus takes great pride in providing an environment for students to explore the intellectual universe, gain skills and knowledge for their personal goals, and nurture the curiosity and open mindedness of youth. We again participated in the campus's Giving Day campaign to raise funds for our students studying abroad. Thanks to the generosity of donors like you and affiliates, over the year, a total of 22 scholarships were issued to our graduate and undergraduate students. You can support the department programs any time of the year online at our “Support Us” page.

Like our undergraduate program, the department’s professional master in applied economics and finance continues to thrive. It attracts an internationally diverse group of students that includes many of our undergraduate alums. The master’s program provides a wonderful opportunity to continue studying economics at UCSC with very talented classmates and exciting courses. Our Ph.D. program is also flourishing. Again this year, students completing their doctoral degrees have made significant contributions to research, expanding society’s knowledge, and are on their way to great teaching, research, and industry careers.

The Economics Department continues to grow. This year, we recruited a new assistant professor, Gueyon Kim, who has completed her Ph.D. at the University of Wisconsin. Gueyon does research in international trade and labor economics. She will be teaching courses in international trade for both the undergraduate and graduate programs. The department also expects to add a new professor in international finance and macroeconomics in the next year.

This year, we welcomed Jasmine Graze to our fabulous department staff. Jasmine coordinates professional development and field studies for students. In the month of May alone, Jasmine organized three professional development events: LinkedIn Workshop on May 3,  a Networking Workshop on May 13 and a Salary Negotiation Panel on May 20. Attending these workshops is a great way to get valuable advice and ideas that can ease your way to career success. To keep up on our professional development events, designed just for you, check out the department webpage at economics.ucsc.edu/news-events/events/index.html.

As the 2018-19 academic year comes to a close, so does my term as department chair. Over the past three years, six new members were welcomed to our faculty and the number of students taking their major in our department has grown. Although I have enjoyed serving as chair, I am ready to devote more time to teaching and research and turn over the helm to Alan Spearot. Please join me in a warm welcome to Professor Spearot as he steps into the chairship on July 1.

Awards

We are thrilled to announce that many hard-working and dedicated economics students at the graduate and undergraduate levels have received awards in recognition of their academic achievements.

Graduate Student Awards

Milam-McGinty-Kaun (MMK)

-Fernando Chertman

Eileen Brooks

-Mai Hakamada

-Shuchen Zhao

 

Department TA Awards for the Period of Achievement Spring 2018-Winter 2019:

-Prateek Arora

-Dongwan Choo

-Jianan Liu

-Liwei Liu

-Brett Williams

-Shuchen Zhao

Guru Gobind Singh Fellowship

-Prateek Arora

Institute on Global Conflict and Cooperation (IGCC) Dissertation Fellowship

-David Park

Undergraduate Awards

Blanche McKenzie Scholarship in Economics

-Jordan Lautt

California Society of CPA, Outstanding Senior Accounting Student

-Natasha Cohen

Certified Management Accounting (CMA) Scholarship

-Adam Baebler

-Christina Banh

-Holly Beckenbach

-Jacqueline Martinez

-Ryan Metz

-Hieu Nguyen

-Lorella Quispe Messarina

Not Pictured: -Yue Luo -Tanner Woods

 

Delta Sigma Pi (DSP) Key Award

-Kenji Mukuti 

Robert J. Shepherd Economics Accounting Path Scholarship

-Vidal Ramirez Ochoa

Economics Department Award in Economics

-Noah Boden-Gologorsky

-David Ngo

 

Economics Department Award in Business Management Economics

-Thipbadee Tantivilaisin

-Blen Tewodros

New Staff Highlight

The Economics Department is excited to announce our new staff member who began working within the department back in winter 2019--Jasmine Graze, the economics professional development coordinator. Within her role, Jasmine coordinates administration of the department field study and internship program, conducts professional outreach and program marketing to connect students with valuable resources, and guides both undergraduates and graduates in their journey of professional and career development. Field study is a unique opportunity within our department for students to earn academic credit while receiving valuable real world experience related to their economics degree. Field study (Economics 193) also satisfies the PR-S general education requirement.

Jasmine earned her B.A. in East Asian studies at Lewis and Clark College where she was introduced to the world of advising early on through employment at the university’s Career Center. After someone turned to her and seriously asked if she could consider a career in this, she realized that she could indeed “turn serendipity into opportunity.” Before her role as the department’s professional development coordinator, Jasmine worked as the recruitment coordinator for the University of San Francisco and as the career development coordinator at our own Career Center here on campus.

When asked about her aspirations for the position, Jasmine stated, “I want to bridge gaps in opportunities and knowledge so that students can be better prepared for what’s next. I want students leaving UCSC feeling savvy and invested in their career and professional development.”

Important: undergraduate students interested in field study must apply the quarter before their field study begins! Please attend an Economics Field Study Program orientation session (next sessions coming in October) for more information, or visit the web page here.

Field Study 

From summer 2018 through spring 2019, field study internships were completed at various companies and UC Santa Cruz departments, including:

A big thank you to all the companies who support the economics field study program and continue to make it a great successs! For more information please visit the Economics Field Study Program page or contact the field studies coordinator econintern@ucsc.edu.

Graduation News

Congratulations Class of 2019 Economics Graduates!

The department graduates around 500 undergraduate students per year. Approximately 53 students will be graduating with honors or highest honors for the 2018-2019 academic year with another 26 being candidates for honors or highest honors. Honors in the major is awarded to students who have completed a major program with superior or exceptional work. Honors decisions are made by the department’s honors and scholarship committee. In general, honors have been awarded to between 10-15 percent of each year’s graduating class.

Congratulations to all our graduating graduate students!  We are excited to have 42 masters students finish the applied economics and finance program and eight Ph.D. students in economics finishing with promising careers ahead of them. Those positions are listed here.

The degree-conferring commencements will be hosted by UCSC's 10 undergraduate colleges and the Graduate Division on Friday through Sunday, June 14-16. See here for a link to more information about commencement.

Graduating Peer Advisers: Upcoming Journeys

Rex Bauer - Following graduation, I will be taking a month long trip through California. After my post-graduate adventure, I hope to begin my career in finance. I will be continuing my search for positions in Madrid, Spain.

Matthias Boehm - After taking a few months off to visit friends and family back home, I’m looking to start off my career in the real estate industry. Finding a position in either San Francisco, Boston, or New York would be great for this field.

Matthew Carrillo - I will begin my career in digital marketing when I move back to Los Angeles this summer. I hope to get a full-time position in the entertainment industry with companies such as Warner Bros., Disney, Netflix and much more.

Danielle Kirkpatrick - My next step after graduation is exploring Peru.  After time abroad I plan to start a successful career in helping corporations move to be sustainable.  

Elliot Spector - I am going to begin my career in SaaS sales, likely in the Bay Area as there are countless companies with great products and solutions.

Cassandra Tangherlini - After graduation, I will be moving to Washington, DC to start my career at the venture capital firm Camber Creek. Following working at Camber Creek for the summer, I will take some time to travel around Europe and then move to New York City to continue my venture capital career.

Why Peer Advise?

“I wanted to be a peer advisor because advising is a valuable resource that I have utilized consistently throughout recent years in my college career. Having the ability to guide students on what their path in economics can look like has been rewarding. The most gratifying part of peer advising has been showing students how straightforward the majors are and pointing out that they often can graduate earlier than they had thought. In my early college years I did not take advantage of the advising resources that were available to me. When I began to utilize advising and the peer advisers at the schools that I had attended, I formulated a plan of action. I then had a path to graduating in a timely manner and will be doing so this June!” -Elliot Spector, UCSC B.A. in economics, 2019

Interested in economics peer advising? Have you ever met with an economics peer advisor? Have you benefited from meeting with an economics peer advisor and would you like to pay it forward by helping your fellow classmates?  

If your answer is yes, this is great news because we are looking for peer advisors for winter and spring quarter 2020! Peer advising is a great way to enhance your interpersonal skills and gain extra-curricular experience in an office environment that looks fabulous on your resume.  Please stop by the Economics Department to discuss this opportunity and ask questions of current peer advisors and/or Lisa Morgan.

Did You Know?

Incoming students should go to faculty office hours so that they can fully utilize all of the amazing resources that are offered here at UCSC. Going to office hours is beneficial because students gain one-on-one interactions with their lecturer or professor that they would not receive just by going to class. Talking with your professor in a more personal setting can help students gain a better understanding of the material, grow a relationship with their lecturer or professor, and ask the questions that they didn’t have the chance to in class. Going to office hours can help students gain a better understanding of the material because they can ask for clarification on complex subjects that time did not permit in class. Also, going to office hours is great for growing a relationship with your professor or lecturer. Their lifelong experience can offer valuable guidance as you navigate through your academic and professional life.

Transfer Student Tips

My name is MartÍn Barajas. I am not only a peer adviser but I also came in as a junior transfer student in fall 2017. As a transfer student, I know it can be overwhelming coming to a new school so I wanted to recommend these top five tips for making the transition easier as well as making the most of your time here:

1. Attend Cornucopia (formerly OPERS Fest)--Tuesday, Sept 24, 4-7 p.m.
2. Get involved with campus/student organizations.
3. Get to know your major and college advisers.
4. Plan out your schedule early so that you have time for other opportunities such as field study, research, and/or study abroad.
5. Don’t be afraid to ask for help!

UCDC and UC Sacramento

The University of California offers its students of all majors two fantastic opportunities, a term studying at the UCDC campus in Washington D.C. or the UC Sacramento campus. These programs are for junior and senior students who want to expand their horizons and gain applicable experience in their field.

UCDC
The UCDC experience is a once-in-a-lifetime opportunity for students. Through the program, students are put into D.C., a vibrant city where valuable new opportunities are to be found. The city offers a diverse scene, students can make life-changing connections with some of the over 650,000 politicians, businesspeople, and more that live in the capital. The list of possible internships is huge. This past fall, the Economics Department’s own Zachary Morse (envs/econ combined) obtained an internship as a climate change writing intern with Physicians for Social Responsibility.

The program centers around two parts, a student obtained internship and a research paper. Before arriving, students find an internship in their field of study (the program offers lots of support for incoming participants). Once in D.C., students begin their internship. Concurrently, they begin writing a research paper pertaining to their internship. To assist students in their research and writing, the program holds a once-a-week seminar where students can receive feedback from professors. Having such research under their belt is an important step for the next generation of leaders.

UC Center Sacramento (UCCS)
The University of California also offers students the chance to live in California’s capital. The quarter-long experience is a specialized program for those who are interested in learning more about politics and policymaking. The campus puts students in the middle of state-level lawmaking which can be an enlightening experience for participants. Our very own Zachary Morse followed his term in D.C. with a quarter in Sacramento, where he interned with the environmental justice team at CalEPA.

Just as in D.C., the program requires students to participate in an internship, while writing a research paper or presentation pertaining to their experience. The internship must be related to public policy, working somewhere they can learn about what goes into law making decisions. Students then supplement this with a full term’s worth of course work. The courses students take teach various research abilities, ranging from research presentation skills to data analysis tools. Such close work with policy puts students on track to becoming players who make real policy change happen.

Events Recap

The Economics Department offers several events each quarter. These events aim to give UCSC students an opportunity to meet and listen to guest speakers talk about their research as well as connect the students with business professionals. Below is a recap of a smattering of events that the Economics Department hosted this calendar year. These events are highly beneficial and we strongly encourage all economics majors to come out and join us! -Peer Advisers

LinkedIn Workshop
Student learning ambassadors Sarah Davidson and Victoria Tichy presented a LinkedIn workshop on “Building your Brand.” The main message was to build relationships, build your brand, network, become a content creator, have a growth mindset, and most importantly have the confidence to tell your story and to stay committed to learning. People in the workshop established new LinkedIn contacts and searched for people they knew and who work at companies they are interested in. One tip is to personalize the message when you request to connect with somebody and not just use the generic LinkedIn text that gets added automatically. The presentation was very positive and inspirational.

Uber Data Analysis
This past April, a data scientist for Uber, Reed Kamsler, presented his life as an economist in tech. He introduced us to his background where he received a B.A. in economics and accounting at UC Santa Barbara. From there he pursued a M.S. in quantitative economics. He recommends to all students looking to go into a technical career to pursue a master's, however, he still believes you can achieve your goals with a bachelor's degree if you work hard. We were fortunate enough for Reed to elaborate on some of the recent data he has collected from across the country. He advocates that anyone looking to work in data analytics/data sciences should know or take certification courses for SQL and Python. It was great to hear such important advice from a recent grad and successful working professional.

Alumni Reunion
Alumni, current students, faculty and staff gathered together for breakfast and a department presentation. The presentation began with a brief introduction by the Department Chair Kenneth Kletzer. Attendees were provided with an overview of the variety of majors the department offers, new faulty, student organizations and how the Economics Department has changed throughout the years. George Bulman then gave an overview of his current research where he discussed his paper on how colleges can admit better students. He elaborated on the statistical problems when using cumulative high school GPA and ACT scores to measure incoming college students’ success. This was a great networking and social event held by the Economics Department this spring quarter.

Networking Workshop
René Shimada Siegel, Connext CEO and San Jose State University PR adjunct professor, gave an engaging presentation about best practices for networking. She shared her personal journey and told students to follow every opportunity that presents itself. René recommended using LinkedIn to identify potential people of interest and reach out to request informational interviews. She said few people use the “summary” on their LinkedIn profile. This is a missed opportunity to write a story that gives people a sense about who you are and what you are aspiring to do. She recommended to be vulnerable and open rather than playing it safe and being boring; make it personal! René also gave tips for interviewing: she told students to remember that they have “two ears, one mouth;” listen carefully to what the interviewer is asking before answering; ask follow-up questions to make sure you understand the question fully before you answer; plan ahead and allow ample time for finding the place and parking; ask the interviewers questions. Two questions to ask them: (1) What question did I not ask that I should have asked? (2) If I should be lucky enough to get this job, what would success look like? Lastly, always follow up with a handwritten thank you note. You can bring the note along with you, write it after the interview, and include a personal reference to something in the interview. The notes could then be sent to the main office address.

Salary Negotiation Panel
Supply Shift project manager Meredith Kiyomura and career coach/UCSC alumna Yolanda Garcia, shared their personal journeys and anecdotes about salary negotiation strategies as well as resources to make sure you understand the salary range of the position you are applying for. Build your case by knowing your worth and resume. Don’t sell yourself short and practice the pitch. Here are some questions to consider when negotiating salary:

1. Besides base pay, do you offer paid leave, vacation time, 401K contributions, medical insurance?
2. How was the salary number calculated?
3. What is the outlook for salary raises and promotions?
4. What metrics do you use to measure success of your employees?

Meredith and Yolanda reminded attendees to have realistic expectations (do your homework researching salaries) and be sure to document achievements to build your case. They also had some very concrete tips of practicing and assuming power poses during your negotiation and to embrace the silence even if it’s uncomfortable.

Lunch & Spring Quarterly Economics Faculty & Undergraduate Colloquium
The Economics Faculty and Undergraduate Colloquium for spring 2019 saw our chair of the department, Professor Kenneth Kletzer, hold a casual lunch and discussion with undergraduates who are either proposed or declared majors in the Economics Department. Attendees were provided a delicious lunch of Woodstock’s Pizza for the event. In the event students asked Professor Kletzer numerous questions that he was very much happy to answer. This included guidance on how to approach and plan for graduate school, courses to take to prepare for a career in finance, future plans and comments for his time after fulfilling his position as chair, among much more.

Janet Yellen

-Chair Yellen Group Photo

On February 2, 2019, the University of California, Santa Cruz honored past U.S. Federal Reserve Chair, Janet Yellen, with the University of California, Santa Cruz Foundation Medal. On that day, Yellen held both a Q&A session and talk about her time as chair of the Fed.

Master's students, and two lucky undergraduates, were able to attend the Q&A session before the talk. Michael Gale, a fourth year UC Santa Cruz economics/mathematics undergraduate, was even lucky enough to ask Chair Yellen about her time in the Fed, pertaining to how she maintained the assumed “autonomy” that is expected of central banks. “She was very kind in her response, a measured, yet passionate, individual,” said Gale about his experience.

After the Q&A, Chair Yellen gave a talk about her time as the chair. She spoke of how her time in the Federal Reserve, what it meant to be the first woman chair, and the adversities she confronted during her tenure. The talk was a great opportunity for UCSC students to learn more about Yellen, who is helping to inspire the next generation of Santa Cruz economics students.

More information about this day can be found here.

Upcoming Events

Meet the Firms -- Hosted by the UC Santa Cruz Career Center
Wednesday, October 2, 2019, Time and Location TBA

Are you a business management economics or economics student looking to work for an accounting firm as an audit or tax associate? This is your chance to meet with representatives from accounting firms and government entities to find out about career opportunities. Bring multiple copies of your resume, MUST be dressed professionally (suit is preferred attire), and be prepared to interview. Student ID is required for entrance.

Lunch & Fall Quarterly Economics Faculty & Undergraduate Colloquium
Tuesday, October 22, 2019 from 12:00 noon - 1:00 p.m. in Engineering 2, room 499.  

Join us for lunch and a presentation from Scott Anderson, Accounting Lecturer, CPA and partner at Sensiba San Filippo LLP. The title of Scott’s presentation is, “Corporate Sustainability Reporting.” Only three of the top 10 companies in the world were on the same list ten years ago. Over this same period of time, corporate sustainability reporting has evolved and become a priority for institutional investors. As a result, over 90% of the worlds largest 250 corporations report to the public on the status of their sustainability efforts in accordance with an established framework despite being under no obligation to do so. Is sustainability reporting in the future for all businesses?

This free event is open to economics undergraduate declared and proposed majors and economics faculty and staff. Lunch and beverages will be provided for those who favorably RSVP and attend the event. Please look on the Economics Department's events page in September to RSVP.

T-Shirts

Stop by the advising office to pick up a t-shirt for yourself, or as a graduation gift to your parents! They are available for purchase at only $10 a shirt.

Summer Courses

Summer Session 1 (June 24 - July 26)
Econ 1 Introduction to Microeconomics (PE-H)
Econ 10A Economics of Accounting I (online)
Econ 100A-01 Intermediate Microeconomics
Econ 101 Managerial Economics
Econ 113-01 Introduction to Econometrics (SR/Q)
Econ 125 Economic History of the U.S.
Econ 136 Business Strategy
Econ 197-01 Economic Rhetoric (DC)

Summer Session 2 (July 30 - August 31)
Econ 2 Introduction to Macroeconomics (PE-H,IS)
Econ 10B Economics of Accounting II (online)
Econ 11B Mathematical Methods for Economists II
Econ 100A-02 Intermediate Microeconomics
Econ 100B Intermediate Macroeconomics
Econ 113-02 Introduction to Econometrics (SR/Q)
Econ 133 Security Markets & Financial Institutions (online)
Econ 161A Marketing
Econ 197-02 Economic Rhetoric (DC)

Additional Fall Course Offering

Economics 141 International Finance (International Macroeconomics)
MWF 10:40-11:45 a.m.
Soc Sci 1, Room 110
Instructor: Professor Kenneth Kletzer

Have you ever wondered why the U.S. has a trade deficit? Why exchange rates matter? Why some countries, like Greece or Argentina, have had debt crises? Whether financial globalization is good or bad? How do global financial crises happen? Why did most of Europe adopt the euro and what happened? Every wonder how the gold standard worked and ended? International finance (aka international macroeconomics) is about all of these questions and more. In this course, we learn all about macroeconomics in the global economy. We study how nations’ economies are interdependent, how one country’s monetary and fiscal policies must take account of the world economy, and how international finance and exchange rates matter for economic policy.

Take a sneak peak at the 2019-2020 course offerings!

Stay Connected

Undergraduate students, please join our LinkedIn Group:  UC Economics

Master's students, please join our LinkedIn Group:  UCSC M.S. in Applied Economics and Finance

Doctorate students, please join our LinkedIn Group:  UCSC Economics Ph.D. Program

Alumni and students, please join the Career Advice Network (CAN) for free career advice.