I’ve been thinking about this a bit more and I’ve had a few more ideas. Overall the structure of the curriculum that I presented in my last post would provide a very solid foundation for further graduate studies, whether it be a PhD or an MBA.
I’ve had a few additional thoughts, and a few modifications:
(1) I would allow the student to focus on either microeconomics or macroeconomics after the introductory level. The student should look ahead and bear in mind that certain topical classes may require intermediate coursework in one or the other.
(2) I included the Public Finance and Corporate Finance modules so that the student would know how capital flows function in the public and private sector, and how these two interact. These are generally electives in other programs, if they are offered at all. The same goes for the International Money and Banking module. I found myself woefully unprepared in my postgraduate studies when it came to how the global monetary system actually works.
(3) I would include a Sophomore course entitled simply “Economics Seminar.” It would focus on research techniques and all of the resources available to the economics student. To pass the module, the student would have to prepare a piece of major research by the end of the year (15-20 pages.) The research would not have to be original. I would supplement this module with a “Senior Thesis” in the fourth year where the student would be required to produce a piece of major original research (20-30 pages.) Passing both of these modules would be required in order to graduate.
(4) Development Economics can be moved to the elective column, along with Labor Economics, Environmental Economics, Industrial Organization, Economics of Public Health, Game Theory, and Financial Markets & Financial Engineering. Enrollment in each module should be capped, particularly the Financial Markets module (as every student aspiring to go to Wall Street would want to take it.) This may be partly achieved by imposing high prerequisites. The focus of the degree should remain academic, and not vocational (i.e. preparing people for Wall Street.)
(5) I would add works by Malthus to the module on the History of Economic Thought. Readings can be relevant excerpts from the respective works. It’s not necessary that the student read all of the books listed in their entirety.
(6) I would add a semester long internship with an organization dealing with economic matters (this can include an investment bank, a think tank, an NGO, &c… approval would ultimately be up to the student’s advisor.) The summer would count as a semester. The student would be required to write a short (15-20 pages) paper on his or her experience without divulging confidential information.
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