Winter-Spring 2020 Newsletter

Welcome to the Economics Department’s Winter-Spring 2020 newsletter! This issue serves to inform any Economics Department affiliates of the wonderful events and features that occurred over winter quarter and what’s up ahead. This edition highlights a new faculty member, a formal concentration in accounting, award recognitions, and various events that enhance the quality of the undergraduate experience at our university. 

We are thrilled to be your peer advisers!

Remote Advising Only

The Economics Department has adopted remote advising ONLY until further notice, in response to measures implemented by Chancellor Cynthia Larive at preventing the spread of coronavirus, announced. Please consider making an appointment for a Zoom or phone advising appointment by emailing, or calling 831-459-5028 (Lisa Morgan) or 831-459-2028 (Inga Tromba).

- Your Winter 2020 Peer Advisers

Letter from Chair Alan Spearot

Dear Economics Community,

Greetings from the chair's (remote) office. The winter quarter of 2020 has presented the department, university, and society with a number of unprecedented challenges that have affected the lives of students, faculty, and staff, both inside and outside of the classroom.  The Covid-19 pandemic appears to be a once-in-a-century public health event upending daily life in profound ways. Adapting to these challenges has required an enormous amount of patience, resilience, creativity and a tremendous amount of work by everybody--faculty, staff and students. I am impressed by the fortitude and dedication of our students, and am incredibly grateful for our economics and the larger university communities for their support and hard work within an environment that has been changing daily, while enduring demands on our personal and professional lives that were simply unthinkable only weeks ago.

I will continue to work tirelessly as chair to facilitate a smooth switch to remote instruction for the spring quarter, and keep my fingers crossed that the escalating public health emergency resolves favorably as soon as possible.  In the meantime, if any members of our community have questions or concerns regarding the Economics Department and its contributions to the research, teaching, and service mission of the university during this challenging time, please feel free to get in touch at  We’re all here to work together to push forward as a department and university, and I am here to help.

Best wishes to the entire economics community. Please stay healthy, be sure to follow all advice from public health and government offices, and see you (remotely) in the spring!

Faculty Spotlight

Professor Galina Hale joined the Economics Department as a new professor in winter 2020. Professor Hale specializes in international finance and is currently bringing light to the food sustainability sectors in economics. She received her master’s degree from the New Economics School Moscow, Russia and her Ph.D. from the University of California, Berkeley. She then went on to teaching at Yale and working at the Federal Reserve Bank as a senior economist and research adviser. Professor Hale is also credited in helping form the first credit book in Russia. Following this, Professor Hale decided to move to Santa Cruz because she was captivated by the green and relaxed environment, which helps her focus on her research, as well as creating a UC wide food sustainability program. Professor Hale also enjoys teaching young minds and inspiring individuals to see the bigger picture of the world, and is constantly working on ways to improve the conditions we currently live in. Besides all the academics she is involved in, Professor Hale takes pride in her physical health and her physical accomplishments, such as competing in marathons and even ironman triathlons. In spring, Professor Hale is teaching Policy Issues in the International Economy (Econ 143) and the graduate level class Advanced International Finance III (Econ 241C).

Scholarship Highlights

We are pleased to announce that the following hard-working economics students at the graduate and undergraduate levels have been recognized and earned awards for their academic achievements. These awards are made possible by the generosity of many donors, and they bring effusive joy to the recipients! We are grateful for their philanthropy and support of economics at UC Santa Cruz! (Additional information about donating can be found here.)

CFA Student Scholarship
Henry Lopez
Henry Lopez

CalCPA Outstanding Senior Accounting Scholarship
Dalanna Nguyen
Dalanna Nguyen

Eileen Brooks Award
Liwei Liu
Liwei Liu

Graduate Pedagogy Fellows (GPF)
Ian Allen
Ian Allen

Field Study

Field study is offered every quarter to provide students the opportunity to earn academic credit while working in the local community or elsewhere (Econ 193). They also earn credit for the PR-S general education requirement. Students are responsible for finding their own internship where they can work in a professional business setting and learn valuable skills in an area of interest. This allows students to work hands-on with the knowledge they have acquired in the classroom. There is a two-unit, five-unit, and 10-unit option for field study. Each student is sponsored by an economics faculty member who provides support and guidance. For spring quarter, all field study internships are managed remotely.

Orientations for field study are held every quarter. Be sure to attend one to find out more information about this great program. For more field study information and orientation dates, please refer to the Economics Field Study Program on our website. If you have any questions about field study, please email

Still can't decide if field study is the right fit for you? See what students are saying about their field study experience below.

Internship: Nadel Phelan
“Doing field study has given me the opportunity to apply what I am learning in business management economics. I have learned how the media and sharing different technological advances changes how developers participate in the market. This experience has allowed me to gain a better understanding of what a career in PR would look like and what my goals are in the future.” -Katie Hardung (Senior), B.A. in business management economics with a minor in politics

Internship: Rising International
“I'm currently an intern at Rising International doing accounting and inventory management. I really wanted to do field study once I got closer to graduation so that I could start adding some real-world work experience to my resume and my time at Rising International has helped so much with that. One of the most beneficial parts so far has been learning how to use different business/accounting software programs, like Quickbooks and LiveImpact, so I can add those new skills to my resume and already know how to use them if I go into any accounting position. My supervisor has been so great about asking what else I would like to learn so I'm really getting hands-on experience in accounting, e-commerce and inventory. It's great knowing that the work I'm doing is helpful to them and their cause as a nonprofit organization!” -Abigail Crowley (Senior), B.A. in business management economics

Winter Quarterly Faculty and Undergraduate Colloquium

As a recognized Chartered Financial Analyst (CFA) and a lecturer for Econ 133, Security Markets and Financial Institutions, and Econ 135, Corporate Finance, Lecturer Kai Pommerenke is extremely proficient in guiding students within the world of finance. For our Winter Quarterly Faculty and Undergraduate Colloquium, he gave a presentation beneficial to undergraduates interested in pursuing a career in finance.

Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting. It differs from the field of accounting which is backward looking and focuses on the financials that have already taken place. Finance is forward looking with projections, planning, and analysis. Lecturer Pommerenke breaks down the field into four subcategories: corporate finance, investments, security markets and financial institutions, and international finance. Students pursuing a career within any of the subcategories statistically make way above the average for recent college graduates, and build up the tools necessary to achieve financial happiness. Careers in the industry include but are not limited to: investment banking, wealth management, consulting, financial advising, financial planning and analysis, trading, hedge funds, investment analysis, among many more. It is key to not only be an effective communicator with strong analytical skills to be successful in this career, but it doesn't hurt to be an Excel wizard as well.

With the CFA credential, Lecturer Pommerenke encourages and supports students to also pursue the charter if interested in obtaining a career in finance. The CFA pathway provides a strong foundation of advanced investment analysis and real-world portfolio management skills that will give you a career advantage that is sometimes a required credential for certain employers. UC Santa Cruz is part of the CFA Institute-University Affiliation Program which allows students in the Economics Department to take courses that will cover approximately 70% of the material required for the CFA Level I exam. Typically, candidates report studying an average of 300 hours for the L1 exam. However, with all courses taken in the provided list, students can potentially reduce that to 60-100 hours. If interested, students can look to receive the CFA Student Scholarship in either one of his finance courses, Econ 133 or Econ 135, by achieving the highest grade in the class for the quarter. Passing the CFA Level 1 exam will at least get you a job in the industry.

Accounting Concentration in Business Management Economics

UC Santa Cruz has officially approved a concentration in accounting within the business management economics major for students entering fall 2020.

Within the concentration there are eight required courses: Econ 110: Managerial Cost Accounting and Control, Econ 111A: Intermediate Accounting I, Econ 111B: Intermediate Accounting II, Econ 111C: Intermediate Accounting III, Econ 112: Auditing and Attestation, Econ 116: Advanced Topics in Accounting and Ethics, Econ 117A: Tax Factors for Individuals, and Econ 117B: Tax Factors for Business.

If students choose to pursue the accounting concentration they will be required to take one computer literacy course, rather than two. Completion of these courses will assist in meeting the requirements needed to take the Certified Public Accountant exam. The concentration opens up many opportunities for internships that may lead to full-time positions after graduation. The concentration will only be offered to UC Santa Cruz students admitted fall 2020 and forward.

Econ/Math Combined Major Math Elective List Expanded

Attention combined economics/mathematics majors! Have you ever had trouble comfortably scheduling a plan with which math electives to take or have you ever wished a certain course could count as a math elective? Well, you're in luck. Effective fall 2020, the expanded math electives courses listed below will count toward your math elective requirement.

Don't worry if you have already taken any of the following or plan on doing so before fall 2020, they will still count for that major requirement!

Math 115, Graph Theory
Math 116, Combinatorics
Math 134, Cryptography
Math 148/148L, Numerical Analysis
Math 152, Programming for Mathematics

DC Course Offerings for Fall 2020

Attention all students still needing the DC requirement! There has been a change in the frequency of offerings for the Disciplinary Communication (DC) courses: Econ 104 and Econ 197.

Econ 104, Is There Truth in Numbers: The Role of Statistics in Economics, will be offered in fall, winter, and spring, effective 2020-21.

Econ 197, Economic Rhetoric: Using Economic Theory and Empirical Evidence in Arguing Policy, will be offered in winter and spring 2021, as well as summer sessions one and two. (Econ 197 will not be offered in fall 2020.)

These two courses are both writing intensive and explore econometrics and economic theory. Econ 104 focuses on how to successfully communicate using data analytics, written tasks, experimental economics, formal essays, and empirical analysis. It is a great way to familiarize yourself with Stata, a program often used for in-depth analysis of statistical data and experiments. Econ 197 elaborates on effective communication of economic theory and policy through the use of position papers, executive summaries, and oral communication. It is a good class to take in order to get to know different methods of communication as an economics major.

Econ 104 prerequisites include Econ 100A (or 100M) and Econ 113, while Econ 197 requires that one has taken either Econ 100A (or 100M), or 100B (or 100N), or 113. Completing either Econ 197 or 104 is required for all Economics Department majors except the environmental studies/economics combined major, whose requirement is to complete the environmental studies DC requirement instead. Current economics/mathematics combined major students also have the option of taking Math 194, Senior Seminar.

Please make sure to enroll in either of these courses during the times mentioned above to complete the DC requirement for your declared major!

Announcement for Transfer Students 

 "Hey transfer students! It’s me Martín, one of your economics peer advisers who also came to UC Santa Cruz as a transfer student. I want to take the time to welcome the new fall 2019 and winter 2020 transfer cohorts on behalf of the Economics Department. We hope your transition to UC Santa Cruz has been excellent. As a transfer student, I know firsthand that the transition can be overwhelming and confusing. However, just know that the economics peer advisers and I are here to help in any way we can, whether that is with declaring your major or informing you about the various opportunities you can take advantage of at UC Santa Cruz. Some of these opportunities range from field study to studying abroad.

We do plan to host a virtual transfer-event by way of Zoom in spring quarter so stay tuned and keep checking your email. As always, feel free to contact the Economics Department office to ask us any questions you may have, or just to say hi!

Before I let you go, some words of advice. Your time here is very limited and it will fly by very quickly. Don’t wait to start developing your network here at UC Santa Cruz. Take initiative and get to know your professors, lecturers, and staff within the department. A way you could do that is by visiting them during their office hours or even meeting with them before or after class. Some faculty often say that they don’t get very many students seeing them during office hours, except right before a midterm or the final exam. Attend office hours regularly, don’t wait until the day before your midterm and/or final. Faculty are required to hold office hours and they do this for you, so you should utilize them!"

Future Events

Events may be rescheduled or canceled in response to coronavirus concerns. Please check event listings for updates.

Spring Quarterly Faculty & Undergraduate Colloquium

Thursday, April 23, 2020 from 4:00-5:00 p.m., by way of Zoom
Guest speakers: Professor Laura Guiliano and Lecturer Steve Owen

Transfer Student Focus Group Event
Wednesday, April 29, 2020 from 4:00-5:00 p.m., by way of Zoom
Guest speakers: Professor Kenneth Kletzer, Undergraduate Adviser Lisa Morgan and Peer Adviser Martin Barajas

Graduate Student Commencement Ceremony
Friday, June 12, 2020 at 9:00 a.m., at the UC Santa Cruz East Field
Registration will open online in spring 2020.

College Commencements
June 12–14, 2020 (Friday–Sunday)
Check your college website for details.

Summer Economics Courses

Enrolling in summer courses gives you an opportunity to take much smaller classes than in the academic year, it helps you get prerequisites and major requirements out of the way, and gives you a great excuse to spend the summer in the woods! Enrollment begins May 1st at

Summer Session 1 (June 22 - July 24)

Econ 1 Introduction to Microeconomics {PE-H/IS}
Econ 10A* Economics of Accounting I (online)
Econ 100A-01 Intermediate Microeconomics
Econ 113-01 Introduction to Econometrics {SR/Q}
Econ 125 Economic History of the U.S.
Econ 133* Security Markets & Financial Institutions (online)
Econ 136 Business Strategy
Econ 197-01 Economic Rhetoric {DC}

Summer Session 2 (July 27 - August 28)

Econ 2 Introduction to Macroeconomics {PE-H/IS}
Econ 10B* Economics of Accounting II (online)
Econ 100A-02* Intermediate Microeconomics (online)
Econ 100B Intermediate Macroeconomics
Econ 101 Managerial Economics
Econ 104 Is There Truth in Numbers {DC}
Econ 113-02 Introduction to Econometrics {SR/Q}
Econ 161A* Marketing (online)
Econ 197-02 Economic Rhetoric {DC}

* denotes online offering

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.

Visit our Economics Department Calendar for upcoming events.

List of Classes for Spring Quarter