LSAT® Scores of Economics Majors: The 2012–13 Class Update

Using 1994–95, 2002–3, and 2008–9 data, the author found that economics majors scored well on the LSAT® (1998, 2006, 2010). These results are often posted on university economics (and other) department Web sites. The author, who updates the prior studies using current data for law school applicants for the 2012–13 class of students entering law school, finds that economics majors continue to perform at or near the top of all majors applying for law school. Economics majors (LSAT® score of 159.1) had the highest score of the 16 largest disciplines (those with more than 1,000 students entering law school). Economics places second behind math/physics (161.8) in a set of 29 discipline groupings that contain at least 325 students with similar majors.     

An Analysis of the Marginal Products of the One- and Two-Semester Introductory Economics Courses

The authors examine whether the administrative location of an economics department in a business versus liberal arts school alters the character of the economics program provided to undergraduate majors. To test this hypothesis, they constructed a curricular character index (CCI) based on a detailed accounting of assorted dimensions of an economics major. The CCI served as the dependent variable in a regression model that controlled for other institutional attributes that could influence curricular character. The sample of 148 primarily undergraduate institutions was selected to impose some semblance of a ceteris paribus environment. Contrary to earlier findings, the empirical results strongly indicate that the administrative location of an economics department in business versus liberal arts schools significantly changes the character of the program offered to majors.     

LSAT Scores of Economics Majors: The 2003-2004 Class Update

Abstract: Using 1994-1995 data, Nieswiadomy (1998) found that economics majors scored well on the Law School Admissions Test. These results are frequently posted on university Web sites by economics departments. However, because the results are nearly 10 years old, it may be interesting to determine if economics majors still perform as well. The author, using current data for the 2003-2004 class of students entering law school, finds that economics majors still performed at or near the top of all majors taking the test. Economics majors rank first (156.6) of the 12 largest disciplines (those with more than 2,200 students entering law school). Economics ranks third behind physics/math (158.9) and philosophy/religion (157.4) in a set of 29 discipline groupings that are created to yield at least 700 students with similar majors.     

Economic Education in Korea: Current Status and Changes

The authors describe key aspects of precollege and undergraduate economic education in Korea. They show that precollege students seem to have low economics literacy due to problems with the curriculum and insufficient training of teachers. At the undergraduate level, they show that economics departments have more male students than female students and that the employment rate for economics majors is lower than for business majors. They hope to draw more of Korean economists' attention to research initiatives in economic education.     

Software copyright infringement among college students

In recent years, the issue of infringement in the software industry has gained international attention as the demand for software continues to grow. The growing presence of unauthorized reproduction of copyrighted products inhibits full potential growth and discourages creative activity. This study analyses the extent of software copyright infringement among college students and attitudes of these students with regard to risk of apprehension and conviction. This study finds a significantly higher likelihood of infringement for computer majors and male students, and a decrease in the likelihood of infringement for older students. This study also uncovers differences in attitudes toward risk of apprehension and conviction between majors in scientific fields and those in business and economics. Whereas the first group of majors appears to exhibit risky behaviour, the latter tends to be more risk averse.     

Undergraduate Coursework in Economics: A Survey Perspective

Survey results from a large sample of economics departments describe offerings for principles courses, coursework requirements for economics majors, and program augmentations such as capstone courses, senior seminars, and honors programs. Findings are reported for all institutions, and institutions are subdivided into six different categories based on public or private control and the highest economics degree offered. The coursework required for the economics major typically consists of ten courses, five in a required core and five electives. The most conspicuous curriculum change over the past 30 years is the rise of econometrics as a required course, now mandatory at about half of major programs. The authors estimate that about 40 percent of students who matriculate as first-year undergraduates take at least one economics course before they leave.     

Why it Pays to Major in Economics

In this article, the authors use a large, recent, and accessible data set to examine the effect of economics major on individual earnings. They find a significant positive earnings gain for economics majors relative to other majors, and this advantage increases with the level of education. Their findings are consistent with Black, Sanders, and Taylor (2003), documenting that about two-thirds of the bachelor's degree premium for economics majors can be attributed to the type of job economics majors perform, and about one-third is a premium that economics majors earn over other workers within the same job.     

Annual Index

The author of this article expands the background theory of voting to incorporate the undergraduate majors of members of Congress. Examining nine votes on trade across the 109th and 110th Congresses reveals that economics majors are the only category of college major to vote in favor of free trade in a predictable way. Controls for a variety of factors including ideology, race, campaign contributions, and the inclusion of votes specifically on Cuba fail to diminish the effect. While economics majors are more likely to take a free trade position, not every vote that presupposes a free trade outcome is supported by economics majors. On the issue of sugar subsidies, being an economics major does not influence the direction of a congressional member's vote.     

The Status of Econometrics in the Economics Major: A Survey

In this article, the authors describe the place of econometrics in undergraduate economics curricula in all American colleges and universities that offer economics majors as listed in the U.S. News & World Report “Best Colleges 2010” guide (U.S. News & World Report 2009). Data come from online catalogs, departmental Web sites, and online course syllabi. About one-third of the schools require econometrics of all students majoring in economics, about half require it of none, and a sixth require it of some, but not all, economics majors. Among universities with economics PhD programs and liberal arts colleges, almost all those ranked in the top 10 require it. Below the top 10, there is little correlation between ranking and econometrics requirements. Liberal arts econometrics classes are much more likely to require research projects than their counterparts in universities.     

An Alternative View of Citation Patterns of Quantitative Literature Cited by Business and Economic Researchers

Using nationally representative data, the authors examine the effects of preprofessional education on the earnings of lawyers. They specify and estimate a statistical earnings function on the basis of well-established theory and principles. Along with standard control variables, categorical variables are included to represent graduate degrees in addition to the law degree and an assortment of undergraduate major fields. Holding a Ph.D. or M.B.A. degree, with the law degree, is associated with significantly higher earnings in some sectors. Lawyers with undergraduate training in economics earn more than other lawyers, ceteris paribus, and economics is the only undergraduate field associated with earnings that differ significantly. The available evidence supports the hypothesis that economics training increases a lawyer's human capital compared with other undergraduate majors.     

Take My Course,Please: The Effects of the Principles Experience on Student Curriculum Choice

Using a large multi-school sample, the authors examined how the characteristics and attitudes of students interact with the pedagogy and attributes of the instructor to influence students' decisions to study economics beyond the first semester. They found that students who have a predisposition to major in economics, who find economics relevant, who believe they understand economics as well as their classmates, and who expect higher grades in economics relative to their other classes are more likely to continue. They found evidence that teaching techniques and evaluation methods influence all of these factors except for the predisposition to major in economics. Some, but not all, of these techniques are particularly successful in influencing the decisions of female students.     

A Further Note on Programmed Learning in Economics

The teaching of economics at the pre-college level in Britain has been increasing rapidly, a fact that is viewed with alarm by university teachers who feel that more harm than good is done in the process. Harbury and Szreter compare the performance of students who studied economics before coming to the university with those who did not, concluding that prior study of economics does not “… appear to inhibit the success of the future undergraduate.” They discuss several factors, such as age, sex, and mathematics background, which seem to be associated with above-average marks in university economics.     

Core Requirements for the Economics Major

In this article, the authors are the first to describe the core economics curriculum requirements for economics majors at all American colleges and universities, as opposed to a sample of institutions. Not surprisingly, principles of economics is nearly universally required and implemented as a two-semester course in 85 percent of economics major programs. Most schools do not prescribe the order in which the principles sequence is taken. The intermediate courses are commonly required, although variation exists across institution types. While the quantitative requirement for the major has increased since 1980, significant differences exist among institutions and by academic rankings. As compared to 1950, there has been an increase in the number of required economics credit hours for the major.     

Geographic Differences in the Earnings of Economics Majors

Economics has been shown to be a relatively high-earning college major, but geographic differences in earnings have been largely overlooked. The authors of this article use the American Community Survey to examine geographic differences in both absolute earnings and relative earnings for economics majors. They find that there are substantial geographic differences in both the absolute and relative earnings of economics majors, even when controlling for individual characteristics such as age, education, occupation, and industry. They argue that mean earnings in specific labor markets are a better measure of the benefits of majoring in economics than simply looking at national averages.     

An Illustration of the Bias of OLS for Yt = λY t-1 + U t

Using longitudinal data on undergraduates from 463 American colleges and universities from 1994–99, the authors examine how majoring in economics affects student opinions on 13 social, political, and economic issues. Economics majors were found to begin and end their college tenure with differing opinions on several issues when compared to other majors, and studying economics was found to be related to changes in several opinions. On the whole, studying economics appeared to increase beliefs in favor of personal freedom and decrease support for government intervention in markets. However, the authors find little evidence that economics majors leave college more united on their opinions when compared to the general student population.     

连锁经营的竞争力:经济学的分析

连锁经营作为一种现代经营方式，在流通领域得到广泛的应用。但是人们很少从经济学的角度来分析为什么这种经营方式具有如此强的生命力。本运用规模经济理论、信息经济学、交易费用经济学和产权经济学理论的有关方法和结论试着这么做，认识到连锁经营有效解决了流通领域追求规模经济的特殊性问题；连锁经营是一种有效降低不确定性的组织设计；连锁经营有效降低了交易费用从而实现了对市场的替代；连锁经营从产权角度刺激了各行为主体的积极性。因此，从经济学角度而言，相比别的经营形式，连锁经营更具有竞争力。     

Change and Continuity

Although there is considerable evidence that efforts to teach economic concepts to elementary school children are increasing, little research is being done at this level. William Walstad's article is, then, one of those rare pieces that reports the results of a controlled study in the elementary grades. In addition, it includes a discussion of research design and statistical techniques, and considers some of the problems one encounters in this type of research (such as problems in parameter estimation). The author measured the effects of a teacher in-service program that provided instruction in economics as applied to the Unified Sciences and Mathematics for Elementary School program. The new Test of Economic Literacy was administered to the teachers, while their pupils took the Test of Elementary Economics. Control groups were also tested. Pupil attitudes toward economics were measured, and it was found that achievement in economics had a direct influence on attitude toward economics. Walstad concludes that “teachers and students gain substantial benefits from the in-service program in practical economic problem solving.”