<p>I was wondering if UChicago econ program is amazing? I think Milton Friedman would be awesome to study under (although obviously you wouldnt be getting taught by him as an undergrad). But, is it really that amazing center of free market thought? Coming out of there, will you be able to single-handedly help the economies of entire nations (just like Sachs did as a young Harvard professor?)
Well, I guess that's an exaggeration :)
But what's the school really like? And how hard is it to get in?</p>
<p>Graduate students are not being taught by Milton Friedman either -- he died in 2006.</p>
<p>Yeah, I hear getting into MF's courses these days is next to impossible. </p>
<p>Serious response to follow though this week.</p>
<p>You can increase your chances of getting into one of his courses by driving on I-95 any day of the week.</p>
<p>I'm not an economics major, and even though the U of C is supposedly some kind of holy grail in economics (according to people who don't go here) from the way I see it, it's just like any other major, filled with a lot of smart kids, some of whom have particularly career goals and some of whom don't.</p>
<p>thanks for the responses.
edit: sorry, i actually forgot about MF's passing away.</p>
<p>UChicago is big on econ cuz it is the central hub of the free trade market and many economic theories have been generated from that university... its a historical landmark in almost every field... first nuclear reactor... aiding in manhattan project... etc...</p>
<p>I think it's only Chicago's graduate econ program that's amazing, and even then Chicago is known more for being a think tank of sorts from which all great economic theories have come, rather than a producer of global business leaders or what have you.</p>
<p>That's a pretty ignorant comment. Economists are rarely "business leaders", no matter where they train. But why don't you start here:</p>
<p>'Chicago</a> Boys' Leave Lasting Legacy on Chile's Economy : NPR</p>
<p>Their renown around the world is legendary and their economic policies were like a beacon of hope for people in many countries with state-managed centralized economies (read former or still communist countries) waiting for an economic miracle. I think that's one of the reasons that, whenever you mention UChicago outside the US, you get a sign of recognition and approval.</p>
<p>I think the undergrad program presents a lot of opportunities....the best of which is it is the ultimate undergrad program in preparation for a PhD in Econ, particularly the Math with a specialization in Econ sequence.</p>
<p>You can take courses with some amazing professors on some amazing topics such as Steve Levitts Econ of Crime or Karna Basu's Topics in Economic Development.</p>
<p>There are some kids, right out of undergrad, who go and work for international development agencies. </p>
<p>Also, the research opportunities are amazing. You can get an RA position for super famous professors and to-be Nobel Prize winners, you can work at the GSB, in the Becker Center for Chicago Price Theory, and so on. </p>
<p>Plus I think if you make even the slightest effort, you can get to know your professors very well. Many of them who were PhD students at Princeton, Harvard, MIT and the like will assure us when they taught courses there, the level of difficulty and depth was no where close to the level taught in U of C undergrad classes....that is probably a double edged sword.</p>
<p>Yes and no. </p>
<p>The amount of day-to-day work and the <em>base</em> level of mathematical rigor is a tad higher than most other elite colleges. But for the average pre-MBA / MPP/ JD professional tack student, it is nothing particularly special, and it would not be a game breaker in my opinion. If, say, I got into UChicago and another top 15ish UG per USNews, but really liked the latter for a host of other reasons, I would certainly let them take me there rather than to Hyde Park. It would be unwise to let cocktail party cache ruin how fulfilling you find your collegiate years. That being said, such students are by no means short shifted by the department, and are given a really generous array of course offerings and professors. </p>
<p>However, if you are the kind of person who is: excited by the mathematics for math majors opportunities (i.e. real analysis, the coding intensive statistics sequence), prepared to do the legwork required to get into and succeed in the more demanding fourth year and first year graduate courses (while still a UG), want to partake in research assistant work, and are giving real consideration to something like pure economics, quantitative finance, applied mathematics, statistics, or operations research for graduate school (where the rigor of UG training and recommendation letters loom large), then UChicago might be a no-brainer over a host of other institutions. Additionally, if you know you just like the quantitative approach and are innately good at it, but are not certain if you want to fully join the race to the Ultimate Glory That Is Quant Graduate School, then UChicago would certainly serve you well as you can toggle back and forth as your interests evolve.</p>
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[quote]
I got into UChicago and another top 15ish UG per USNews, but really liked the latter for a host of other reasons, I would certainly let them take me there rather than to Hyde Park. It would be unwise to let cocktail party cache ruin how fulfilling you find your collegiate years.
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<p>I completely agree. I'm a little troubled by the "I want to go to the University of Chicago because I've heard it has good economics" point of view, because I'm not convinced that these people are going to benefit from what Chicago offers, they might benefit more from what other universities have to offer, I can't really tell... what I want to hear is, "I want to go to the University of Chicago because I think it's a great place for me," which is a statement completely independent of prospective major.</p>
<p>Maybe people are expecting "gilt" association by just being close to Chicago Booth.</p>
<p>I think one reason UChicago is at the top for economics is because it is very theoretical and math based to... they create what other people use... think of UChicago as the inventors lol and the archetypes... thats why they are number 1 in economics...</p>
<p>The Booth-Econ link really runs the other way. Most of the famous names associated with Booth are really at Chicago for the economics department, and incidentally hold chairs in business (many have multiple endowed positions). In fact, few teach MBA level courses, and instead mostly spend their time with the PhD students. Nevertheless, its a good marketing gig for the B-school.</p>
<p>However, I concur that their is a trickle down effect to all UG's by virtue of being attached to a school that graduates so many MBA alumni into a major market (and many others). Most name brand firms you interview with in the professional services arena are going to have UChicago alumni interviewing and screening Chicago UG's, which helps to a degree.</p>