Welcome to the homepage of the
UWM Department of Economics
Located in the College of Letters and Science, the Department of Economics is home to 20 full time faculty members, internationally recognized for their research and dedicated to excellence in teaching. The UWM Economics Department offers an undergraduate degree as well two graduate degrees: a terminal M.A. degree and a Ph.D. degree, only one of two Ph.D. programs in economics in Wisconsin.
From introductory through to graduate classes, the Economics curriculum stresses both theory and application of important economic issues in society, such as unemployment, inflation, exchange rates, labor markets, economic development, international trade and finance, and outsourcing. Economics also offers the practical advantage of opening up career opportunities. Both firms and government agencies are interested in undergraduate Economics majors for entry level jobs in management (click here for a list of jobs in which our graduates are currently employed). The degree demonstrates your ability to clearly analyze situations, and an ability to work comfortably with numbers. A survey from July 2008 shows that graduates with an economics degree have a starting salary of $50,507, on average, the highest of any starting salaries for business related majors. In fact it is higher than the starting salaries of any non-engineering major. (Click here for a news report on this survey.) Another report by the Wall Street Journal confirms this and shows that earnings by economics majors nearly double by mid- career to over $98,000.
The pages on this website offer more detailed information about the degree programs, faculty, and research, as well as other offers of the Department of Economics. Please feel free to contact us if you have any further questions, and we hope that you enjoy your visit to our website.
*** JOB VACANCY ANNOUNCEMENT***
The UWM Economics Department will be hiring a tenure-track assistant professor whose primary field is Econometrics. Please see the advertisement here or in the AEA's Job Openings for Economists or email Department Chair, William Holahan, for more information.
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News and Upcoming events:
Distinguished faculty! We are happy to announce that Professor John Heywood has been named a UWM Distinguished Professor. In the University's history, only 35 faculty have been given this honor, which recognizes the significant impact of a faculty member's research on his or her field of study. Professor Heywood is the first economist to receive this award at UWM.
Excellent Teaching too! We are also happy to announce that UWM Distinguished Professor John Heywood has also been given the UWM Alumni Association Award for Teaching Excellence. More details will be forthcoming. He joins Department Chair, William Holahan, and Emeritus Professors Leon Schur and the late Melvin Lurie as Economics Department faculty to win the award.
"What do I do with my Undergraduate Economics Degree?" This is a question we often get from our undergraduate majors. The answer is - "Almost anything!" The Economics degree is an extremely flexible one, where employers value the analytical skills of our graduates. We have compiled a list of jobs in which our graduates are employed and a guide to what economics classes are useful in certain careers. Contact an undergraduate advisor for more information.
Economics Research Seminars: Our next research seminar of Fall 2008 will be Vladmir Mares of Washington University in St. Louis who will present "First and Second Price Mechanisms in Procurement and Other Asymmetric Auctions" on Friday, October 10 at 2pm in Business N110. Contact Prof. Bahmani for more information. Click here for the entire fall schedule. Our next applied microeconomics workshop ("labor lunch") will be announced soon. If you are interested in presenting in our informal workshop series in the fall, please contact Prof. Heywood.
Retirement News: After 38 years of service to the UWM Department of Economics as researcher, teacher, mentor, advisor, and Department Chair, we bid Professor Yoshio Niho farewell and a Happy Retirement. In order to celebrate Emeritus Professor Niho's career, the Department has established the Yoshio Niho Excellence Fund to help the research of junior faculty. Please contribute today!
Economics Professor Joins CEA: Professor Scott Adams will be on leave in the 2008-9 academic year to join the Council of Economic Advisors who advise the U.S. President in economic matters. He will be part of a team of ten senior economists who advise the Council on economic matters. Congratulations!
And even more good news! In an April 2008 article in the Southern Economic Journal, the UWM Economics faculty ranked highly among 129 PhD granting institutions in several subfields of economics. In particular, the fields of labor economics (ranked 35th in the nation), industrial organization (47th), economic development (51st), urban economics (51st) and international economics (53rd) all ranked highly in terms of research productivity among our faculty.
Calling Economics Alumni and Current Majors: For a second year, the UWM Department of Alumni Relations is sponsoring a mentoring program to pair Economics alums with current economics majors. The goal of the program is to provide career-related advice and resources and networking to current students. Click here or contact Cindy Petrites of the Dept of Alumni Relations or Prof. Holahan for further information.
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