Hi, I know that Wharton is the highest ranked undergraduate business school and one of the highest ranked for MBA programs in the United States, but how good is UPenn CAS for an Economics major? Is it still one of the best in the nation for economics or are there other schools that you might recommend if that is the major that I intend to pursue?
Yes, one of the best.
At the undergrad level, strength of department doesn’t matter a tremendous amount . Departmental rankings measure strength of research and faculty, and this doesn’t necessarily translate to the educational experience for undergrads.
This being said, from what I understand, Penn is below the very first rank of economics programs (e.g. Harvard, Chicago, Stanford, Princeton, and MIT), and in the pool with Northwestern, Columbia, Michigan, etc. So, for the purposes of 95% of undergraduates, it’s a great environment. For the tiny subset considering doctoral programs in economics, an opportunity at Harvard et. al. could prove to be a marginally better decision.
For a discussion of the first rank of schools, and how Stanford is now seen as the biggest star, see here:
http://www.nytimes.com/2015/09/13/upshot/how-stanford-took-on-the-giants-of-economics.html?_r=0
Also, this probably deserves a new post, but you seem like an educated person in this subject, how do programs in economics differ from a business school concentration to a CAS major? As in, how does Wharton or Ross Economics differ from UPenn and UMich CAS economics programs?
By the way, thank you so much for your responses!
In terms of undergraduate experience, CAS Econ and Wharton are incredibly different. Wharton has a set of core courses that focus on business, whereas the College focuses on the liberal arts education. In Wharton, you’ll take management, finance, information systems, etc. courses as part of your core; the College has its own set of requirements. Take a look at each school’s website to see the core curricula of each in detail.
In terms of job prospects, Econ grads and Wharton grads, when entering the same fields, receive comparable salaries, and there is virtually no job that someone in Wharton could get that an Econ major couldn’t, and vice-versa (no matter how much anybody tells you it matters, it simply doesn’t), assuming interests are the same.
Wow, thanks a lot for that! Yeah, I think I plan to major in Economics regardless of whether I go to a business school or the CAS school so I think I would rather study a liberal arts core so that I have a broader undergraduate set of skills that I can narrow down at an MBA if I need to.
@colonial For someone wanting to study Economics but is interested in business, Penn Econ is probably the best choice besides Harvard Econ. First off, Penn Econ is a Top 10 econ program so you will find many amazing professors who are some of the best in their fields and who actually teach undergrads (Penn classes are practically always taught by professors, not TAs). Yes definitely Penn Econ is no Harvard, MIT, Stanford Econ (generally considered the top tier) or Chicago, Princeton, Berkley (usually the second tier), but it comes right after these and for undergrad the difference in quality is not that meaningful, and if you are not interested in a PhD it is practically almost not meaningful at all.
More importantly, you will be able to bolster your Econ degree with as many wharton classes as you want (can fit in your schedule – which is many since an econ degree is only 32 classes). Also recruiting opportunities are really second to none at Penn and it doesnt really matter if you are wharton , CAS or SEAS, they are open to anyone. Penn Econ kids do very well on business recruiting.
Thanks so much for your response! I figured Penn fell just outside the top economics programs, but with access to Wharton classes and such an expansive alumni network, I know that it’s the perfect school for me.