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Download the Economics Department Manual Davidson College Economics Department Manual Contents A. Welcome Letter from the Chair B. Philosophy of the Department C. Economics Courses D. Description of Major and Minor Requirements and Awards E. Departmental Opportunities F. Faculty of the Department A. Chair’s Letter Thank you for your interest in Economics at Davidson. We are proud of the Economics major and invite you to use this resource to get to know us better. Our well-structured major builds on strong theoretical foundations and allows students to study the discipline from perspectives of depth and breadth. Our faculty is dedicated to teaching in the context of the liberal arts, allowing students to mature as critical thinkers and excellent communicators. Our students exhibit excellence in the classroom and beyond and exhibit the highest standards of honor and integrity. Students have opportunities to apply their knowledge through research with professors, internships, and experiential projects. The annual Cornelson Distinguished Lecture series brings influential scholars and opinion makers, including Nobel laureates, to campus and gives our students the opportunity to interact with these leaders in the field. After graduation the sky is the limit! Alumni attend top doctoral programs in economics, pursue master’s degrees in accounting and business, enter the financial industry as analysts or consultants, become educators, work for non-for-profit organizations and a plethora of other rich experiences. Economics provides a foundation for success in almost any endeavor. When you consider all that we offer, I hope that you will decide that this is a great place for you. Throughout this document you will find links to resources that will help you learn about Economics at Davidson, how to plan your curriculum, and about opportunities that are available to Economics majors. You will also find information about current events in the department, links to interesting articles, upcoming lectures, job and graduate school opportunities, and reminders of deadlines. This document is a one-stop resource for everything Economics @ Davidson. I believe that the more you learn about us, the more you will want to be a part of our dynamic major! Ben Baker, Chair 2 B. Philosophy of the Department Davidson College: Economics Department Philosophy Sept. 30, 2019 Introduction: The Davidson College Statement of Purpose states “The primary purpose of Davidson College is to assist students in developing humane instincts and disciplined and creative minds for leadership and service. In fulfilling its purpose, Davidson has chosen to be a liberal arts college, to maintain itself as a residential community of scholars, to emphasize the teaching responsibility of all professors, and to ensure the opportunity for personal relationships between students and teachers.” The Department of Economics fully ascribes to this purpose and its faculty and its activities are fully consonant with these broad principles. Economics at Davidson College: The study of economics at Davidson College begins with Economics 101, Introductory Economics. In this course our students learn the basic principles of both microeconomics and macroeconomics. Moreover, they learn how to approach issues and problems as economists (i.e., “learning the economic way of thinking”). The department encourages and welcomes all students to take this introductory course, whether the student intends to take additional courses in economics. For a student continuing the study of economics, with the aim of being either a major or a minor in economics, the student will take more advanced courses in intermediate microeconomic theory, intermediate macroeconomic theory, and quantitative analysis. The department also offers a number of elective courses that can be used to fulfill the economics major, the minor, or complement study in other majors, both discipline specific like political science or interdisciplinary like Africana Studies. Our students are encouraged to study “away” from Davidson College for a semester, a full year, or even a summer. With both international study-away such as at the London School of Economics or domestic study away such as at Morehouse College, students frequently receive course credit that applies to their economics major or minor. While the major is purposefully designed as an economics major and not a pre- business major or program, the department does offer courses in introductory finance, international finance, and three levels of accounting. Students are also taught the basics of economic research with a number of different opportunities. The courses in quantitative methods invariably have an empirical research project. Elective courses may also have quantitative or non-quantitative research projects. The Department also has a robust Honors program that provides qualified senior economics majors with an opportunity to do high-level research under the direction of economics faculty. Finally, faculty members support students, serving as research mentors, in various College-wide research opportunities such as those provided by the Dean Rusk Program in International Studies, the Abernethy Research Program, the Kemp Research Program, and the Davidson Research Initiative. 3 Post-graduate Opportunities: With the breadth of our major, students in economics are prepared for a range of excellent post- Davidson opportunities, some of which are summarized below: - Graduate school in economics: We have students who elect to pursue a Ph.D. in Economics. Those students receive opportunities to study microeconomic and macroeconomic theory in greater depth. They also are guided to take appropriate courses in mathematics. Invariably, they also pursue a significant research opportunity. - Graduate work in accounting: We have strong arrangements with several leading accounting graduate programs who accept preferentially and, sometimes support financially, our graduates. - Graduate work in other academic areas in which we have established formal relationships: Claremont McKenna with finance, University of Virginia with Public Policy - Other graduate programs: We have students studying public policy, finance, law, and medicine, among other pursuits, following their work at Davidson College. - Business and finance: Davidson has an excellent reputation for preparing students to enter directly into the world of business or finance. Working closely with our Careers Office, we help students secure attractive internship opportunities that prepare them for these careers. - Other Opportunities: From research assistantships with the Board of Governors of the Federal Reserve System to work with non-profit agencies, our students receive the preparation that makes them attractive in a range of fields. Our Formal Mission Statement: A formal listing of our objectives, drawn from our 2013 Mission Statement follows: - To provide general-interest economic education for students in all academic disciplines. - To provide in-depth education in economic reasoning, tools, and institutions to majors in economics, non-majors in related disciplines, and economics minors. - To provide breadth and depth in economics that will prepare students for various careers in the private and public sectors. - To provide students with the analytical rigor and background for graduate work, especially in economics, business administration, public policy, and law. - To provide students with the opportunity to learn to develop hypotheses and empirically analyze and test them using robust data sets. - To offer opportunities for students to interact with each other both inside and outside the classroom so that they will be better prepared for group collaboration in their subsequent careers. - To develop in students a strong interest in research and scholarly exploration. - To develop in students an ability to communicate economic ideas effectively. - To develop in students an appreciation for the difference between positive and normative statements and arguments. Conclusion: We invite prospective and current Davidson College students to review the opportunities provided by the faculty in the Department of Economics. This document: “The Study of Economics at Davidson College” will provide greater detail into the value and excitement of studying economics at Davidson College. 4 C. Economics Courses LinKs to Economics Courses Descriptions of courses in the Economics department can be found at the following link: http://catalog.davidson.edu/content.php?filter%5B27%5D=ECO&filter%5B29%5D=&filter%5Bc ourse_type%5D=- 1&filter%5Bkeyword%5D=&filter%5B32%5D=1&filter%5Bcpage%5D=1&cur_cat_oid=21&expan d=&navoid=948&search_database=Filter#acalog_template_course_filter Current course offerings can be found here: https://www.davidson.edu/offices-and-services/registrar/schedules-courses Honors Program in Economics Economics 494 (fall semester) and Economics 495 (spring semester) Economics majors have the opportunity of pursuing Honors in Economics as part of their major. The honors candidate selects a topic for original research and works under the guidance of one or more faculty members from the economics department. This two-semester opportunity is pursued during the senior year. In the fall semester, the candidate does an extensive literature review relating to his or her topic, develops a theoretical model for testing or other form of theoretical exercise, and outlines a likely econometric approach to answering the research question. This thesis proposal is orally defended in the
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