Global Economics

Photo by Athena Lam.

Global economics is an economics major focusing on global issues with an interdisciplinary element. It is designed to prepare students to understand and participate in the global economy; the program aims to deepen the student's knowledge of economics within a culturally and linguistically diverse world. The major is particularly useful to students contemplating careers at home or overseas in international relations, in international business, or with international organizations. Hence the major requires overseas study, regional area study, and second-language proficiency in addition to the basic economics requirements and additional emphasis in international economics.

Introductory and core requirements: Students who major in global economics are required to take the following courses

    * 1, Introduction to Microeconomics
    * 2, Introduction to Macroeconomics
    * 11A and 11B*, Math Methods for Economists (or equivalent)
    * 100A (or 100M), Intermediate Microeconomics
    * 100B (or 100N), Intermediate Macroeconomics
    * 113, Introduction to Econometrics
    * Applied Math & Statistics 5*, Statistics (or equivalent)

Additional upper-division requirements. Four additional upper-division courses are required.

At least one of the four courses must be selected from the follwing three:

    * ECON 120, Economic Development
    * ECON 140, International Trade   
    * ECON 141, International Finance

In addition, one more course must be taken from either the list above or the list below.  The fourth course may be any other upper-division economics course.  Please see the entire economics course list and the business management electives course list.

    * ECON 120, Economic Development
    * ECON 121, Economic Growth
    * 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 143, Policy Issues in the International Economy
    * ECON 148, Economies of Latin America
    * ECON 149, Economies of East and Southeast Asia
    * ECON 188, Management in the Global Economy

Courses 191, 192, 193, 193F, 194B, 194F, 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.

The global economics major has three additional elements:

Area Studies Requirement: The major requires students to take two additional courses selected from the offerings of departments other than economics in order to learn about the history, political economy, or culture of some other part of the world. These can be lower- or upper-division courses; the courses must focus on the area of the student’s language study and overseas study. The Economics Department provides a list of approved courses; substitute courses are welcomed when they are part of the student’s overseas program or from other UCSC departments, but must be approved by the adviser for the global economics major.

Foreign Language Study: The global economics major requires a foreign language since students who plan to work in the larger world must have fluency in a language other than English. This language should be relevant to their regional area of interest. Students can meet this requirement by completing two years of university-level language courses or by demonstrating an equivalent level of competence through a recognized language test.

Study Abroad: All students are required to spend at least one term abroad in an approved course of study in their regional area of concentration; students may also choose a year-long program. Typically, a student will do this through the UC Education Abroad Program (UC EAP).  Numerous overseas study sites are available through UC EAP. Students desiring to fulfill their required study abroad through UC EAP must apply directly to the EAP office for the selected program and are subject to the admission requirements determined by UC EAP. In countries and at universities where UC EAP programs are not available, students may make their own arrangements for study with the permission of the director of the program. Students may use the time abroad to further their language study, to meet the area study course requirements, to meet some of the upper-division economics course requirements, or to take courses unrelated to the major. Students who are not accepted to an overseas program or who cannot meet the language or area course requirements are advised to complete the general economics major as an alternative. The Economics Department provides a list of pre-approved EAP courses (PDF).  Students must petition for courses if they are not on the pre-approved EAP list.  Substitutions from this list are welcomed when they are part of the students overseas program. A maximum of two approved courses from EAP may be applied toward major requirements.

Additional Requirements:  Disciplinary Communication (DC)
All undergraduate majors must satisfy the campus’ Disciplinary Communication (DC) requirement. The DC requirement in economics is satisfied by completing Economics 104, Is There Truth in Numbers: The Role of Statistics in Economics; or Economics 197, Economic Rhetoric.

Mathematics and Statistics Content Requirement
Mathematics Content: Successful completion of one of the calculus sequences below is required for all Economics majors, and must be taken before enrollment in Economics 100A (or 100M), 100B (or 100N), and 113. Students are advised to complete the mathematics courses as early as possible in their academic career. Students may complete the mathematics requirement for the majors in one of the following ways:

     *Economics/Applied Mathematics and Statistics 11A and 11B
     *Mathematics 11A, 11B and 22 (or 23A by petition via the Mathematics Department
     *Mathematics 19A, 19B and 23A or 22
     *Students may also complete the mathematics requirement by taking Mathematics 11A or 19A, and then   Economics/Applied Mathematics and Statistics 11B.

Students planning to pursue graduate work in economics or business should seriously consider more intensive mathematical training; consult an adviser for guidance.

Statistics Content: One course from the following:
      *Statistics: Applied Mathematics and Statistics 5, Statistics or
      *Applied Mathematics and Statistics 7, Statistical Methods for Biological, Environmental and Health Sciences, or
      *Computer Engineering 7, Statistical Reasoning in the Age of the Internet

Comprehensive Requirement
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.