Undergraduate Economic Research                   2013 - 2014

Joseph P. Hughes, Coordinator

▪ Why do research?

The Aresty Research Center for Undergraduates offers these answers.

“Research allows you to gain appreciation for the practical applications of knowledge, and to step outside your classroom and learn about the theories, tools, resources, and ethical issues that scholars and professionals encounter on a daily basis.

“You'll learn how to formulate questions, design plans to find answers, collect and analyze data, draw conclusions from that data, and share your findings with a community.

“It gives you an opportunity to connect with the best faculty at Rutgers.

“It's excellent preparation for graduate school and the workplace, where they're looking for outstanding students who can identify and solve problems in teams.

“Doing research will also make you an informed consumer of the research that you encounter on a daily basis: you'll be able to evaluate the information presented to you as a citizen of our complex society, and make informed decisions about all kinds of public policy issues that affect your everyday life.

“And finally, research prepares you for the world beyond Rutgers by honing your independent thinking and creativity, time-management and budget skills, and confidence in your academic and career goals.”

▪ Honors Research in Economics

Majors who apply for departmental honors research usually have cumulative grade-point averages that generously exceed the minimum required 3.0 overall and 3.4 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 in some cases, earlier and later.

▪ Independent Launch

Students using the Independent Launch choose 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 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  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 220:493. Research oriented courses assign scholarly papers and econometric analysis of data. Currently, these courses are Health Economics (316), European Economic History (343), Financial and Monetary History of the United States (344), the Economics of Japan (358), Women and the Economy (375), and Market Discipline (408).

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 220:494, in which the student would complete the thesis. The student would need to enroll in Advanced Econometrics.

Note that the research oriented elective course launches the honors research and substitutes for the first semester of work, 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.

Fall 2013 Schedule of Assignments: Honors Research Seminar I and II

Spring 2013 Schedule of Assignments: Honors Research Seminar II

Applications  to 220:493 and 220:494

▪ Revised Course Titles and Descriptions

The courses, 220:493 and 220:494, have new titles and descriptions. 

01:220:493 Honors Research Seminar I (3) Workshop in which students, in conjunction with faculty advisers, formulate and develop individual research projects and present and discuss their research findings.

Prerequisites: 01:220:203, 204, 322. Pre- or corequisite: 01:220:401. Open to sophomores, juniors, and seniors by permission of department.

01:220:494 Honors Research Seminar II (3) Workshop in which students, in conjunction with faculty advisers, complete individual research projects begun in 220:493 or in a research-oriented economics elective course and present and discuss their research findings.

Prerequisites: 01:220:203, 204, 322. Pre- or corequisite: 01:220:401. Open to sophomores, juniors, and seniors by permission of department.

2007-2008 Winners of the Simon Prize for Best Honors Thesis

Higher Education and Non-Profit Governance: The Role of Endowments, Sheila Ramachandra

The Determinants of Corporate Tax Revenues in OECD Countries, Aaron Margevich

Sheila Ramachandra's thesis placed her among four finalists in an international competition.  The other finalists were from Oxford University, UK; University of Naples Federico II, Italy; and Columbia University, USA.  Sheila used the Course-Based Launch from Market Discipline.  Her thesis adviser was Professor Joseph P. Hughes.  Aaron Margevich used the Independent Launch.  His adviser was Professor Rosanne Altshuler.

Fall 2010 Aresty Small Grants Program for Undergraduate Researchers

Applications for small grants should justify the need for expendable supplies and services directly related to the student's proposed research. These may include, but are not limited to: photocopying; books; miscellaneous supplies; travel; and conference attendance to present talks, papers, or posters.

Items and activities not funded include stipends, living expenses (rent, food, Internet service, etc.); tuition; laptops; and other equipment or software that could be used beyond the duration of the research project.

Students may only request funding if they have a significant role in project design and execution.  Not all proposals are accepted, and accepted proposals are typically not fully funded; students are expected to seek funding from multiple sources, and the ARC staff may assist students in the search for additional resources.

Students awarded funding through the Aresty Research Center are required to submit an abstract for consideration for our Symposium in the spring (this year, April 29). Additional information and application forms for the research awards are available at http://aresty.rutgers.edu/funding.htm.  Please note: students will have to fill out an online form that will generate a cover sheet; that sheet must still be brought, in person, along with the itemized budget form, project overview/proposal, personal statement, and advisor endorsement, to our office in Milledoler Hall.