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Program Overview:
The University of Chicago's Bachelor of Arts in Economics (Standard Track) offers a rigorous, theory-driven education that emphasises analytical thinking and empirical methods. This program is ideal for students aiming for careers in academia, policy analysis, finance, or consulting, providing a strong foundation in economic theory and quantitative analysis.
Curriculum Structure
Year 1: Foundations in Mathematics and Economics
Students begin with foundational courses in mathematics, such as MATH 15100: Calculus I, MATH 15200: Calculus II, and MATH 15300: Calculus III, establishing the mathematical skills necessary for economic analysis. An introductory course, ECON 19800: Introduction to Microeconomics, may also be taken to provide a basic understanding of economic principles.
Year 2: Core Economic Theory and Empirical Methods
The second year delves into intermediate economic theory with courses like ECON 20000: The Elements of Economic Analysis I and ECON 20100: The Elements of Economic Analysis II, focusing on microeconomics, and ECON 20200: The Elements of Economic Analysis III, covering macroeconomics. Students also begin the empirical methods sequence, which includes courses such as ECON 21000: Econometrics A, equipping them with statistical tools for data analysis.
Year 3: Advanced Topics and Electives
In the third year, students explore advanced topics through electives that allow them to tailor their studies to specific interests. These electives can include courses from the Department of Economics, the Booth School of Business, and other related fields, providing a multidisciplinary approach to economic issues.
Year 4: Specialization and Research Opportunities
The final year offers opportunities for specialization and research. Students may choose to engage in independent research projects or participate in workshops, such as the Econometrics Workshop or the Public Policy & Economics Workshop, to deepen their understanding and apply their knowledge to real-world economic problems.
Focus Areas: Microeconomics, Macroeconomics, Econometrics, Public Policy, Financial Economics, Behavioral Economics
Learning Outcomes: Graduates will demonstrate proficiency in economic theory, quantitative analysis, empirical research methods, and critical thinking, preparing them for diverse careers in economics and related fields.
Professional Alignment (Accreditation): The program is part of the Kenneth C. Griffin Department of Economics at the University of Chicago, adhering to the institution's rigorous academic standards.
Reputation (Employability Rankings): The University of Chicago's Economics program is globally recognized, consistently ranking among the top in the world for its academic excellence and strong connections to industry and government sectors.
Research Assistantships: Students can engage in research projects with faculty members across the Kenneth C. Griffin Department of Economics, the Booth School of Business, and the Harris School of Public Policy, gaining hands-on experience in economic research.
Becker Friedman Institute (BFI) Summer Internship Program: BFI offers a 10-week summer internship program, providing students with opportunities to work on substantive economic research projects, often in collaboration with public or nonprofit organizations.
Expanding Discovery in Economics+ (EDE+): This initiative offers workshops and programming to support students in their economics career exploration, including resume and mock interview workshops, and networking opportunities with professionals in the field.
Chicago Studies Quarters (CSQ): These programs integrate classroom instruction with experiential learning opportunities, allowing students to engage academically and experientially with the city of Chicago.
Undergraduate Research Opportunities: The university provides various avenues for undergraduates to work on cutting-edge business research with Booth faculty members, including summer research assistant positions and participation in the Summer Institute in Social Research Methods.
Future Progression & Opportunities: BA in Economics at the University of Chicago
Graduates of UChicago’s BA in Economics program are highly sought after for their rigorous analytical training and problem-solving abilities. Alumni commonly pursue careers as:
These roles span sectors such as finance, consulting, government, and technology.
Here’s how UChicago supports your career development:
Career Development Resources: The Kenneth C. Griffin Department of Economics offers career planning resources, including information on internships, research assistant positions, and job opportunities tailored for economics majors.
Employment Statistics: While specific undergraduate employment data is not detailed, the university's emphasis on analytical rigor and its strong reputation contribute to favorable employment outcomes for graduates.
Industry Connections: The Polsky Center for Entrepreneurship and Innovation facilitates partnerships between the university and industry leaders, providing students with opportunities to engage in research and innovation projects.
Accreditation and Recognition: UChicago's Economics Department is renowned for its academic excellence and has been associated with numerous Nobel laureates, underscoring the program's prestige.
Graduate Outcomes: Alumni have secured positions at prominent organizations such as the World Bank, Bank of America, and AQR Capital Management, reflecting the program's effectiveness in preparing students for diverse career paths.
Further Academic Progression:
Graduates of UChicago's Economics program often pursue advanced studies in economics, public policy, business administration (MBA), or law (JD) at leading institutions. The program's strong emphasis on research and analytical skills positions students for successful admission to top graduate programs worldwide.
Essays: Applicants must submit a personal statement and respond to the University of Chicago's unique supplemental essay prompts.Letters of Recommendation: Two letters are typically required.Standardized Testing: The University of Chicago has a test-optional policy; SAT or ACT scores are not required but can be submitted.English Language Proficiency: International applicants must demonstrate proficiency through TOEFL, IELTS, or Duolingo English Test scores. High School Subject Recommendations Mathematics: Strong emphasis on calculus and statistics. Economics: AP Microeconomics and Macroeconomics are beneficial. English: Advanced writing and critical reading skills are important. Social Sciences: Courses like history and government can provide valuable context.Economist – Analyze economic data and trends to advise government agencies private corporations or consulting firms on policy markets or business strategyInvestment Banking Analyst – Support capital raising mergers and acquisitions and financial transactions by building detailed financial models and conducting valuations at investment banksData Analyst or Data Scientist – Use programming languages like Python R and SQL and statistical techniques to analyze large datasets and provide actionable insights for business or policy decisionsActuary – Combine economics statistics and mathematics to assess and manage financial risks for insurance companies pension funds and financial service firmsManagement Consultant – Advise organizations across industries on operational efficiency market entry and strategic challenges to improve overall performanceFinancial Analyst – Evaluate company financial statements market conditions and investment opportunities to guide corporate finance portfolio management or banking decisionsPolicy Analyst – Research and assess public policies related to economics labor health or education for think tanks NGOs or government agenciesQuantitative Analyst or Econometrician – Apply advanced quantitative methods and econometric models to forecast economic outcomes and guide investment or policy decisionsCertified Public Accountant CPA – Provide auditing tax planning and financial consulting services combine economic understanding with regulatory compliance in accounting firms or corporationsEconomic Researcher – Conduct academic or applied research for universities government bodies like the Federal Reserve or Bureau of Labor Statistics or international organizationsMarketing Analyst – Analyze consumer data and market trends to optimize pricing strategies product launches and promotional campaigns for corporationsFinancial Risk Analyst – Identify and quantify financial risks in banking insurance or corporate finance to develop risk mitigation strategiesInternational Development Specialist – Work on economic development projects focused on poverty reduction trade or policy reform for international agencies like USAID or the World BankFederal Reserve Analyst or Central Banker – Support monetary policy economic research and financial regulation to promote economic stability and growth at regional Federal Reserve Banks or the Board of GovernorsEntrepreneur or Startup Founder – Leverage economic principles to build businesses especially in sectors like fintech healthtech or analytics-driven platforms
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