Global Economics

Photo by Athena Lam.

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 Econ 141, International Finance.

    * 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) - if area is Asia
    * ECON 188 (Management in the Global Economy)

Students must also take THREE (3) (TWO if fall 2013 & after) additional upper-division economics electives which may be chosen from any upper-division economics courses.

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

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.

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 should focus on the area of the student’s language study and overseas study. The Economics Department provides a list of approved courses (PDF); 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 (EAP).  Numerous overseas study sites are available through EAP. Students desiring to fulfill their required study abroad through 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 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 courses from EAP may be applied towards 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: Successful completion of Economics 11A and 11B, also offered as Applied Mathematics and Statistics 11A and 11B, (or equivalent) is required of all economics majors and is prerequisite to Economics 100A (or 100M), 100B (or 100N), and 113. Therefore, students are advised to take Economics 11A and 11B or their equivalent as early as possible in their undergraduate career. Mathematics 11A-B and 22 (or 23A by petition only through the math department), or 19A-B and 22 or 23A, are acceptable equivalents to Economics 11A and 11B. Students may also complete the mathematics requirement by taking Mathematics 11A or Mathematics 19A, and then Economics 11B or 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.

Transfer students interested in the combined Economics/Mathematics major are encouraged to complete as many lower-division (mathematics and statistics) courses as they can prior to transferring. The courses need to be equivalent to Math 19A, 19B, 23A and 23B.

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.