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The economics department offers a major, minor and electives for undergraduates and a Ph.D. program. |
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Economics
and the Study of International Issues
As students at Clark are well aware, the
issues confronting international economies in the new millennium are
difficult questions that affect the well-being of millions:
- Does
the import of "cheap foreign goods" by wealthy countries mean that
increased trade brings no gains for workers in developing countries?
- Do
international institutions of the global economy such as the International
Monetary Fund and the World Bank contribute to the prosperity of the
poorest nations?
- Does
“globalization” of financial markets require new government action?
- What
direction will a United Europe take?
Understanding
these kinds of questions and identifying solutions requires an understanding of
the complex interactions economies in a global setting. We need to know
- How foreign investment, trade, and
international migration ties economies together.
- To what degree do countries determine economic conditions within their
own borders.
- How does one
analyze the impact of developments in the international economy on the
well-being of workers and consumers.
Using Economics as the core of study of international issues provides one with
an opportunity to develop both expertise and a broader understanding of the
global economy.
Building Expertise: the Foundation Courses
Many students
have found that a course of study in economics allows them to understand the
complexities of the international economy better.
Courses in economics build upon each other. The first courses in economics (Econ 100 or Econ 10, and then
Econ 11) develop the tools of economic analysis used in understanding the
international economy. As early as
the second semester of the first year, the economics student is able to build a
foundation in international economics. Econ
108 (International Trade and Finance) provides background to policies
influencing international trade and finance, such as the IMF or the World Trade
Organization. Econ 207 (International
Trade) and Econ 208 (International Finance) provide a comprehensive survey of the
economics of international trade,
flows of investment, exchange rates, and macroeconomic interactions.
Developing Your Interests
The course offerings of the Economics Department at Clark permit the student to
develop a
background in international economics and to apply it to a wide range of
important issues. The “Courses
of Study” outlined below offer some suggestions about how students can
develop their interests in International Trade and
Development, Country Studies,
or International Economic Relations and incorporate them into a major in
economics. In addition, capstone
experiences and the honors program offer opportunities for advanced research. Recent honors theses in economics have covered topics
such as the impact of AIDS on South Africa, speculative currency attacks, and the
impact of trade on income equality.
Courses
in disciplines such as History, Government, and Geography round out the
background the student acquires and can count as credit towards the major. The intensive language study required of ISS students can
help develop a focus as well. Internships
with firms, the London Internship Program, or the Washington Program offer
opportunities for applying course work in a wide range of situations.
Even if you would prefer to minor in Economics, you are welcome to take
advantage of the diversity of the Department’s course offerings.
Your advisor in economics can help you shape a program that meets your
goals.
After Clark
Graduates
of the Clark Economics Program have found a range of opportunities in business,
government, and non-governmental organizations. They prosper in part because of the
strong analytical and quantitative skills they have
developed within the major. Recent Clark graduates are employed in international banking,
consulting, major accounting firms, and import-export work. Many students go on
to earn an MBA at Clark or elsewhere. MBA and MSF grads are
currently employed with firms that include leading business consultants in both
the United States and Europe. Other recent
Clark graduates have earned Masters degrees in international economics.
Clark graduates also have gone on to earn Ph.D.s at leading universities.
Advising
All members of the Economics Department
are pleased to discuss the Economics Program with you and help you tailor your
studies to your interests and goals. The
following faculty members have particular expertise in international economic
issues:
Madhavi Bokil,
International Economics and Open Economy Macro, tel. x7185, e-mail:
mbokil@clarku.edu
John Brown, European Economy
and Economic History, tel. x7390, e-mail: jbrown@clarku.edu
Myles Callan, International
Finance, tel. x7237, e-mail: mcallan@clarku.edu
Course Work and Areas of Focus
Many students take courses in a specific order. For example, most take
econ 10† (or 100) and econ 11†
in the first year, and follow this with econ 160†,
205† and 206† in the
second year. Econ 207 (international trade) and 208 (international
finance) are each offered every other year and are best taken prior to the
senior year, especially if one anticipates writing an honors thesis. Econ
228 (economic development) is also offered every other year and should be taken
when it works well with your schedule. Because many students choose to
study abroad or to take a semester away from Clark in the junior year, it is
appropriate to factor that into the schedule. While courses similar to
207, 208 and 228 can be taken at other universities it is often better to take
them at Clark, both because of overall program fit and because of the
desirability of getting to know the Clark faculty. Some students will want
to taken Econ 108 (a one semester international economics course) or Econ 128
(economic development). Those courses are not recommended for majors or
for students who intend to take Econ 207 and/or 208 or Econ 228. A course
that is recommended for students with interests in the international studies is
Econ 265 (econometrics). Econometrics plays an important role in most
research on international matters.1
Areas of Focus
Trade and Development
Many parts of international economics integrate with issues of
particular interest to economic development. the department offers
specific courses in economic development (particularly important is econ 228)
but students are also advised to take courses in IDCE and Geography. You
will want to discuss with your advisor the courses that are most desirable and
best suited to your program.
Country Studies
Some students emphasize the study of particular countries.
Within the department we have faculty who conduct research on particular
countries or regions (including Zhang, Ickowitz, Geoghegan and Brown).
Students are also encouraged to pursue studies of countries or regions in
history, geography and foreign languages and literature. A semester or
year abroad offers an excellent complement to work on campus.
International Economic Relations
A base in economics is an excellent place to begin or supplement
the study of international relations. Apart from econ 207 and 208,
students should consider econ 245 (History of the Global Economy) and econ 246
(Latin America and the World Economy). Students interested in
International Economic Relations should seriously consider participating in a
Washington Semester Program or an internship with a governmental or
non-governmental organization.
1The major in economics requires the five core courses marked with a † and five electives. Electives must include three 200-level courses. A 200-level designated capstone must be taken during the senior year. Two related courses (in italics) outside of the major are also required. Not all courses are offered every year. For the upcoming schedule of courses, contact the Department of Economics or
consult the listing of courses.
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Academic Catalog & Requirements
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Additional Resources
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