What would I expect pursuing economics at this school? I understand this is one of the nations best economics program, but specifically what knowledge would I gain from here? What job opportunities would be best suited for someone would majored in economics here?
http://collegecatalog.uchicago.edu/thecollege/economics/
https://economics.uchicago.edu/content/undergraduate-program
One of the many reasons why my son chose UChicago was the Career Advacement Program and the total commitment to it by the Univeristy.
Arguably the largest and most successful Metcalf Internships of its peers at 2,000+ last year.
Nearly all students (93%) are employed or have plans 1 year post graduation.
https://careeradvancement.uchicago.edu
Another was the Trott Business a Program.
https://careeradvancement.uchicago.edu/uchicago-careers-in/business
OP: beware of coming to The College of U of Chicago ONLY thinking about job prospect after graduation. I am not saying you do. It is healthy to have a career plan. Still The College approach is more of an intellectual pursuit. In addition, the economics program at U of Chicago is highly theoretical. It is more math than economics. An economics major will not teach you anything about accounting, corporate finance or anything an undergrad business major in other schools would cover.
Again, let me emphasize again this does not mean that an econimcs major from U of Chicago will have few job opportunities. Far from it. Yet please understand The College is here to teach you how to think. It is not a job placement office.
I haven’t checked the University of Chicago course catalog on this, but when I was an undergraduate at a peer college (where people considered an undergraduate business major a sign of mental deficiency) I took several courses in accounting and corporate finance, and they were all offered in the Economics department. I am almost positive there are several courses on finance offered at Chicago. There may not be any accounting courses, but I think that the introductory accounting course in the business school may be open to undergraduates as an elective.
I am a pretty intellectual, life-of-the-mind kind of guy. My main interest in college was Continental literary theory. I can’t tell you how much I enjoyed my introductory financial accounting course.
It’s true that the Chicago Economics major is highly theoretical and very math-based, but some courses with direct, practical business application are offered.
Also:
Aren’t there opportunities to take some courses through Booth? If so, finance and accounting should be pretty standard fare offerings, although they might be at the MBA level. The Econ department probably does teach some asset pricing courses to undergraduates but those are going to be highly theoretical – think Lars Hanson as opposed to Eugene Fama.
Edit to above post: some of the course descriptions for finance that JHS posted look very practical And, in fact, very similar to what you would get at a decent undergraduate business program. A great way to round out the otherwise theoretical economics major and better understand how to apply some of the theory. Or Even just to take for fun. I took a corporate finance class at my liberal arts college when I was an economics major and I loved it. It was my favorite economics class.
In any event, according to an earlier post by @JBStillFlying they plan to break out a new “Business Economics” major next fall, open to the class of 2021 and beyond. Which probably renders moot any concerns the OP has about having to learn too much about stuff that doesn’t help her get a job.
Just wondering what peer Econ programs would be considered more practical than U of C’s. Aren’t most Econ programs somewhat theoretical?
@jenniferadelaney : in case the previous link did not work.
The success of these programs is also where I would think the University will capitalize and could make it a formal major as @JBStillFlying mentioned.
Trott Business Program
UChicago’s business career programs build on the world-class UChicago liberal arts foundation to give students who are interested in business a competitive edge in their professional development. While activities and requirements differ by program, key tenets of each experience are to engage with like-minded students to build business and industry knowledge, strengthen professional skills, and enhance recruiting strategies to support internship and full-time recruiting goals. Students engaging in these programs are interested in careers in a wide range of businesses including (but not limited to) investment banking, investment management, consulting, private equity, retail, marketing, advertising and sales & trading.
This multi-faceted approach provides comprehensive business programming through three main opportunities: the Trott Business Program, the Financial Markets Program, and Business Career Services.
Partnership with the University of Chicago Booth School of Business
UChicago undergraduates have access to courses at the world-renowned Chicago Booth School of Business. Trott Business Program students gain access to Chicago Booth in several ways:
Courses: All students in the program complete two business classes at Chicago Booth, one of which must be Financial Accounting.
Leadership Effectiveness and Development (LEAD): Alongside MBA students, students participate in sections of the LEAD program, which enhances self-awareness and interpersonal effectiveness.
Mentors program: Current MBA students provide advice on topics such as resumes, career development, and job search strategies.
The Financial Markets Program provides students experience in mathematical modeling, programming, and other quantitative topics to pursue a career in trading, financial modeling, or quantitative analysis. The program provides weekly workshops specifically directed at products traded in the markets (options, futures, swaps, fixed income, etc.), technical methods and models that drive market operation, trading ethics and market regulation, and site visit experiences with some of Chicago’s premier proprietary trading firms.
Business Career Services offers specialized programming, counseling appointments, and alumni connections for students interested in a variety of business careers. The program does not require an application, and undergraduates from any major are encouraged to be involved. Throughout the year, workshops, business competitions, and site visits to firms in Chicago and beyond allow students to broadly explore possible career paths. Business Career Services helps students interested in business to navigate and succeed at every step in the career process, from preparing for the very first interview to securing a full-time job in their desired industry upon graduation.
@57special at #9 - yes they are. And many businesses and service providers (mgt consulting, banking etc.) consider it to be very useful theory!
Speaking of theory - @JHS I have my own regarding that “business economics” major. Obviously, it would be great to have something for undergrads offered through Booth but we don’t know that’s what will happen here. One thing that is very disparate about the Economics major as currently offered: It’s light on the number of women who complete the major. Not aware of numbers who start and then switch but I understand that’s part of the problem. The typical explanation: they don’t “like” it (whatever that may mean). Perhaps the “Business Economics” major will attract more women to the subject as it will be perceived as more “applied” and practical and perhaps a bit less math and theory intensive. This is just speculation, of course.
When I was there I took Financial Accounting at Booth - it’s a pretty painless process to enroll.