DEPARTMENT OF ECONOMICS



DEPARTMENT OF ECONOMICS

DEPARTMENT SPECIFICS

2007-2008

The Department of Economics is pleased to welcome new and continuing students to a new academic year. The purpose of the annual “Department Specifics” is to acquaint (or re-acquaint) students with the faculty, academic requirements and upcoming events in the department. For new information check the Economics Department web page (maintained by Professor Pete Parcells) at: .

Economics Faculty

Halefom Belay

Office: 215 Maxey

Phone: 527-5150

e-mail: belayh@whitman.edu

Courses: Principles of Economics, Mathematical Economics, Applied Macroeconomics, Intermediate Macroeconomics, Labor Economics

Jan Crouter (Chair)

Office: 146 Maxey-ESC

Phone: 527-5174

e-mail: crouter@whitman.edu

Courses: Principles of Economics, Government & the Economy, Global Environmental & Resource Issues, Environmental & Natural Resource Economics, Principles of Economics & the Environment, Intermediate Microeconomics, Law & Economics.

Denise Hazlett

Office: 212 Maxey

Phone: 527-5155

e-mail: hazlett@whitman.edu

Courses: Intermediate Macroeconomics, Monetary Theory and Policy, Introduction to Financial Economics, Principles of Economics, Game Theory, International Finance.

Raechelle Mascarenhas

Office: 214 Maxey

Phone: 527-4989

e-mail: mascarr@whitman.edu

Courses: Principles of Economics, Development Economics, Global Economics, Public Finance

Pete Parcells

Office: 113 Maxey

Phone: 527-5267

e-mail: parcells@whitman.edu

Courses: Principles of Economics, Statistics for Economists, Economics of Crime & Punishment, Introduction to Econometrics, Economic Geography, Urban Economics

Karl Storchmann (sabbatical leave Fall 2007)

Office: 213 Maxey

Phone: 527-5718

email: karlstorchmann@; storchkh@whitman.edu

Courses: Principles of Economics, Intermediate Microeconomics, Economics of Transportation, Introduction to Econometrics, Wine Economics

Major Requirements

1) Economics Majors (Minimum Economics Credits Required: 35, NOT PDF)

Econ 107 Principles of Economics or Econ 109 Principles of Economics & the Environment

Econ 227 Statistics for Economists (or Math 128 Elementary Statistics or Math 338 Prob & Statistics)

Econ 307 Intermediate Microeconomics*

Econ 308 Intermediate Macroeconomics*

Four Upper-Level Economics Electives numbered 310-490.

One Additional Economics Elective numbered 200 and above.

2) Economics-Mathematics Majors (Minimum Economics Credits Required: 28, NOT PDF; Additional Credits in Mathematics: about 29)

Econ 107 Principles of Economics or Econ 109 Principles of Economics & the Environment

Econ 307 Intermediate Microeconomics*

Econ 308 Intermediate Macroeconomics*

Econ 327 Introduction to Econometrics

Econ 428 Mathematical Economics

One Upper-Level Economics Elective numbered 310-490.

One Additional Economics Elective numbered 200 and above (exc. Econ 227, Statistics for Economists)

Additional Coursework in Mathematics (about 29 credits): See p. 70 of the catalogue.

3) Economics-Environmental Studies Majors (Minimum Economics Credits Required: 27, NOT PDF; Additional Required Credits in Environmental Studies: about 35)

Econ 109 Principles of Economics & the Environment or Econ 107 Principles of Economics

Econ 227 Statistics for Economists (or Math 128 Elementary Statistics or Math 338 Prob & Statistics)

Econ 307 Intermediate Microeconomics*

Econ 308 Intermediate Macroeconomics*

Econ 477 Environmental & Natural Resource Economics

One Upper-Level Economics Electives numbered 310-490.

One Additional Economics Elective numbered 200 and above.

Additional Coursework in Environmental Studies (about 35 credits): See p. 84 of the catalogue.

* For all Economics and Economics-Combined and Economics-Related Individually Planned Majors a minimum grade point of C (2.0) in Econ 307 and in 308 is required and Math 125 or the equivalent is a prerequisite for these courses.)

Outside credit restrictions

No more than eight off-campus program credits (credits earned in domestic or foreign study programs) and/or transfer credits and/or AP credits may be used to satisfy the course and credit requirements for the Economics major or the Economics portion of the combined majors.

Minor Requirements

A minimum of 19 credits which include Econ 107 or 109, 307, 308 and two additional courses in Economics numbered 200-490. One of these additional courses must be an advanced course numbered 310-490.

Honors in Economics, Honors in Economics-Environmental Studies

The college requirements for Honors in Major Study are listed on listed on pp. 20-21 of the 2007-2008 College Catalog, and Guidelines for Departmental Approval are found at . Students must attain a cumulative GPA of 3.3 and a major GPA (or a GPA of each part of a combo major) of 3.5, pass the comprehensive major exam with distinction, and complete an honors thesis with a minimum grade of A-. In addition to the guidelines of the Registrar's Office, the Economics department offers the following timetable for all honors candidates who intend to graduate in May 2008:

1) During the Junior Year - Choose a topic, discuss your ideas with faculty members and arrange for a thesis advisor. Students planning to pursue honors in Economics or an Economics-related combined major are strongly encouraged to complete most of the coursework in Economics, including Econ 327 (Introduction to Econometrics), in preparation for the thesis.

2) During the Summer - Commence work on the thesis. At a minimum have a complete bibliography by the first day of the following Fall semester, Tuesday, August 28, 2007.

3) During the First Six Weeks of the Fall Semester –Candidates work with their advisor(s) to fashion a thesis proposal for submission to the Economics Department.

4) By Friday, October 5, 2007--Submit an application for Admission to Candidacy for Honors in Major Study with the accompanying thesis proposal approved by the thesis advisors to the Economics Department Chair. The Economics Department (and the Environmental Studies advisor, for Economics-Environmental Studies candidates) may ask students for further revision of their thesis proposals. Economics-Environmental Studies Honors candidates should note that this deadline may precede a deadline to complete a thesis proposal as part of EnvS 486, Senior Project Preparation.

5) By Thursday, November 1, 2007—The Economics Department forwards the approved applications to the Registrar’s Office. Economics candidates pre-register for Econ 498, Honors Thesis for the spring semester, and Econ-Environmental Studies candidates pre-register for EnvS 498, Honors Thesis (3 credits).

4) First Week of Spring Semester - Submit the completed first draft to your thesis advisor(s) by Friday, January 18, 2008.

5) First Day after Spring Break - By Monday, March 24, 2008 Submit the preliminary final draft to all members of the thesis defense committee and schedule a thesis defense to take place no later than Friday, April 18, 2008. For Economics honors candidates the committee consists of all members of the Economics department. For Economics-Environmental Studies honors candidates the committee includes at least two members of the Economics department and at least one faculty member from the Environmental Studies program.

6) Deliver the final draft to the Library within two weeks of the defense, and no later than Friday, May 2, 2008.

Comprehensive Exams for Economics and Economics-Combined Senior Majors

The standard written exam for Economics and Economics-Combined majors is the Major Field Test (MFT) in Economics. (In addition, Economics-Combined majors may have other components for the written exam.) The test is tentatively scheduled to be administered on the afternoon of Saturday, January 19, 2008. Students must register for the exam in the Division One (Maxey) Office by Friday, December 7, 2007. The fee for the test is around $30.

Oral exams are tentatively scheduled to be administered in the three weeks of Tuesday, January 22 through Sunday, February 10, 2008. Economics majors are to sign up for one-hour time slots for the oral exams by noon on Wednesday, January 16, 2008. The sign-up sheet will be posted next to Professor Crouter's office (146 Maxey-ESC) on Monday, January 14, 2008. Economics-Combined majors should contact Professor Crouter by noon on Wednesday, January 16, 2008 to arrange the separate scheduling of their oral exams with the relevant Economics professor and the professor of the other major or program.

Information Meeting for Economics and Economics-Combined Majors

Senior Economics majors are required to attend a meeting at noon on Thursday, September 13, 2007 in room 206 Maxey. All other Economics majors are invited to attend, and lunch will be provided for all attendees who notify Professor Crouter by Friday, September 7, 2007, that a lunch is wanted. Items of business include: the upcoming comprehensive major exams; preparation for graduate study in Economics, Law, Business and Public Policy; the election of the Economics student representative(s); and other matters that may arise.

Special Lectureships and Programs in Economics

 

1) The Genevieve Patterson Perry Endowment for the Study of Economics

The Perry Endowment was established in 1999 by former President Louis B. Perry to honor his wife, Genevieve Patterson Perry. Genevieve Perry was educated as an economist at UCLA and served Whitman in a leadership role during her husband's presidency from 1959 to 1967. The endowment enriches the study of economics by bringing distinguished economists to Whitman College to present a public lecture in the general areas of economic policy and business ethics and to visit classes. Whitman’s Perry Lecturers have been Paul Romer, Douglass North, Hal Varian, Daniel McFadden, Orley Ashenfelter, and Robert Stavins. This year’s Perry Lecturer will be Professor Todd Sandler who will be coming to campus on Thursday, September 20, 2007. His public address on “The Economics and Politics of Terrorism” will be that evening in 130 Olin at 7:30.

2) The William Allen-Boeing Lectureship and Student Investment Endowment

The William M. Allen-Boeing Endowment, established by Grant and Nancy Allen Silvernale, and Nat and Dorothy Allen Penrose, provides funds for distinguished individuals in industry, finance, technology, and manufacturing to visit campus. The goal of the lectureship is to provide Whitman students the opportunity to meet and listen to individuals with expertise and knowledge of business. The Allen-Boeing Lecturers have been John Warner (Senior Vice President and Chief Administrative Officer of The Boeing Company), Peter van Oppen (Chairman and Chief Executive Officer of Advanced Digital Information Corporation), John Valaas (President and Chief Executive Officer of First Mutual Bank of Bellevue), and J. Michael Rona (President of the Virginia Mason Medical Center of Seattle), and Gordon Reiss (currently, President of Intercontinental Enterprises Limited). Look for the department’s announcement of this year’s Allen-Boeing speaker in the near future.

The Endowment also made possible the formation of the Whitman Investment Company (WIC) (see ), a student-run group charged with the responsibility of managing the William Allen -Boeing Endowment. Students gain practical experience in finance enhancing their classroom learning in Economics and other courses.

3) The Whitman College Working Paper Series

The Whitman College Economics Department Working Paper Series was launched in the 2006-2007 academic year under the leadership of its student editorial board and its advisor, Karl Storchmann. The Series features papers by Whitman students and faculty and Whitman symposium contributors. See the links to the Working Papers on the Economics Department webpage.

Graduate Programs, Grants and Other Career Opportunities

The Economics Department posts news of internship, job and graduate study opportunities on the department web-page and places fliers received from employers and graduate schools on the bulletin board by the second floor Economics offices. The Career Center offers a range of services for students seeking internships and jobs. Students interested in graduate study in Business should contact Professor Pete Parcells, and those interested in law should see Professor Patrick Frierson (Philosophy).

Job Opportunities in the Department of Economics

The Economics Department hires a few students each year as office assistants. Duties may include photocopying, library errands, filing, book ordering, updating of bibliographic files, and data entry and analysis. Familiarity with MSWord, Excel and/or Economics and Statistical software is a requirement for some of these positions, and there may be a preference for economics and economics-combined majors for some positions, too. Wage rates depend on worker experience and duties involved. The typical period of employment is from late August to late May. If you are interested in these positions, please speak to individual faculty members. Be aware that if they’ve not already done so, student workers will need to fill out I9 and W4 forms in the Payroll Office (107 Memorial) within three days of being hired, and you’ll need to present two original pieces of identification.

The Economics Department is also seeking qualified students to hold positions as Economics computer laboratory assistants. Successful completion of Economics 227 (Statistics for Economists) and perhaps Economics 327 (Econometrics), Economics 388 (Labor Economics) as well as training provided by the Office of Technology Services are required for these positions. Please see Professors Belay and Parcells.

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