Honors Research in Economics

Honors research consists of two tracks that differ in the way students identify and develop a topic. Either track can be launched as soon as the applicant has completed the prerequisites--often in the junior year, but sometimes earlier or later.

Independent Launch

The student using the independent launch chooses a thesis topic in consultation with his or her faculty supervisor and with the approval of the department. Topics vary widely. The student must submit an application which describes the topic, provides a preliminary review of some of the relevant literature, and identifies the data to be used in the econometric analysis. Both the faculty supervisor and the undergraduate director must approve the application.

The first (fall) semester of the Honors Research Seminar, 01:220:493, is used to refine the topic by extending the literature review, by developing a theoretical and an empirical model for the investigation, and by launching preliminary econometric work on the data. Students enrolled in 493 must have completed or be enrolled in Advanced Econometrics (01:220:401).

In the second (spring) semester, 01:220:494, the student completes the investigation and submits the final draft of the thesis.

Course-Based Launch

The course-based launch uses a research-oriented elective course to develop and refine the topic. In contrast, the independent launch uses 01:220:493. Research-oriented courses assign scholarly papers and econometric analysis of data. Currently, these courses are Market Discipline (01:220:408), Health Economics (01:220:316), and the Economics of Japan (01:220:358).

Having enrolled in one of these courses, the student identifies a topic, writes a literature review both from papers assigned in the course and from additional readings, and carries out some preliminary analysis of data (perhaps extending work done in the course). This work constitutes an application to 01:220:494, in which the student would complete the thesis. The student would need to enroll in Advanced Econometrics (01:220:401).

Note that the research-oriented elective course launches the honors research and substitutes for the first semester of work, 01:220:493, in the independent launch.

Honors and Awards

The completed thesis can be submitted to the Awards and Honors Committee of the Economics Faculty which will evaluate the thesis and, if appropriate, assign it one of three designations: honors, high honors, or highest honors. The committee also awards the Simon Prize for the best honors thesis, which may be shared by more than one thesis.