Ucsc

[constrainedoptimizer]

Carl Walsh is definitely still advising students. In fact, the external reviewers insisted that the department make a larger effort to emphasize monetary economics (given our strengths and the fact that there are many people enrolled who are concurrently working at central banks). Along that vein, the department is likely to offer an additional 2-quarter monetary sequence in 2nd year for those interested.

Could you elaborate on this topic a little more TBK? It's just that I am a little surprised that I have not seen Dr. Walsh's name on any of this year's or last year's job market prospects' CVs. Does he officially advise these students, or is he sort of an informal adviser?

Secondly, I have seen a couple of your colleagues with "applied econometrics" as one of their research specialties...however, there doesn't seem to be any official econometrics sequence outside of the core theory courses. Is this designation given to you if you pass the empirical project or something of that nature? Or do I have this all wrong?

Thanks in advance!

P.S. Have any of your colleagues taken the route of obtaining an additional M.S. in applied math and stochastic modeling? This program in conjunction with my probable grad studies at UCSC interests me very much...

[TheBrothersKaramazov]

Having a TAship in winter and spring quarters doesn't prohibit you from getting one in fall quarter. You just have to look FAST! ie. by September, start contacting departments and let them know you'd be interested in TAing.
Also - econ dept and math dept both hire graders. This is what I did in my fall quarter of first year. It's little money (ie. about 800-1000$) for a single course, but it's at least something. Just to let you know, if you don't TA before the winter quarter, you'll get your first pay check at the beginning of February.

Walsh: He is supervising a handful of students - just none were on the job market this year. He definitely supervises and has an RA. He is particularly active in organizing the macro workshop. The job market candidates this year were all international focused. I think next year we'll see some monetarists on the job market.

Applied econometrics? There isn't an official applied econometrics sequence. Rather, it's just that most people have an (arguably over-) empirical focus. The dept seems to really emphasize empirical theses. There are very few theory papers (outside of monetary) being pursued by current phd students. ( i am speculating).

You guys will do an empirical project at the end of your first year (which is different from my year and above - we are doing it at the end of 2nd). And lucky you - no field exams. We're the last year to endure them.

The AMS dept has saved my sanity!!! A few of us in the department have been taking alot of courses in Applied Math and Stats. We were strongly encouraged to take AMS 205 (this is no longer suggested for first years), as we didn't have our first econometrics course until the winter quarter. You can get some sort of degree notation for AMS coursework (i think it involves 6-7 courses). I particularly felt that the first year coursework didn't emphasize enough math... so I took some extra courses: Math Stats, Bayesian Stats, Bayesian decision theory. (my classmate also took stochastic processes, and stochastic differential equations). The AMS dept is almost entirely Bayesian - so if you're looking for Frequentist statistics.. don't look here. This is not a bad thing! Most of the monetary students in our department have been taking advanced courses in Bayesian statistics, at it is becoming increasingly popular in monetary research.

(Actually, i think what really sold me on UCSC was the opportunity to take classes in the AMS department. I had been contemplating doing a masters degree in applied math elsewhere... so this, coupled with great experimental economics and int'l finance, really appealed to me).

[constrainedoptimizer]

Walsh: He is supervising a handful of students - just none were on the job market this year. He definitely supervises and has an RA. He is particularly active in organizing the macro workshop. The job market candidates this year were all international focused. I think next year we'll see some monetarists on the job market.

Applied econometrics? There isn't an official applied econometrics sequence. Rather, it's just that most people have an (arguably over-) empirical focus. The dept seems to really emphasize empirical theses. There are very few theory papers (outside of monetary) being pursued by current phd students. ( i am speculating).

You guys will do an empirical project at the end of your first year (which is different from my year and above - we are doing it at the end of 2nd). And lucky you - no field exams. We're the last year to endure them.

The AMS dept has saved my sanity!!! A few of us in the department have been taking alot of courses in Applied Math and Stats. We were strongly encouraged to take AMS 205 (this is no longer suggested for first years), as we didn't have our first econometrics course until the winter quarter. You can get some sort of degree notation for AMS coursework (i think it involves 6-7 courses). I particularly felt that the first year coursework didn't emphasize enough math... so I took some extra courses: Math Stats, Bayesian Stats, Bayesian decision theory. (my classmate also took stochastic processes, and stochastic differential equations). The AMS dept is almost entirely Bayesian - so if you're looking for Frequentist statistics.. don't look here. This is not a bad thing! Most of the monetary students in our department have been taking advanced courses in Bayesian statistics, at it is becoming increasingly popular in monetary research.

(Actually, i think what really sold me on UCSC was the opportunity to take classes in the AMS department. I had been contemplating doing a masters degree in applied math elsewhere... so this, coupled with great experimental economics and int'l finance, really appealed to me).

Thank you very much for this information, TBK!!! This is exactly the information I was hoping for.

[Terra Firma]

Thank for the information TheBrothersKaramazov, really appreciate it. For the removal of the field comps, exams sometime cause unproductive stress although they do make us to learn the material better in some way or another. It seems that the dept is more keen with encouraging students to start focusing on research early on, I think this is great ideas and encouraging news.

[encore]

If you don't get funding in first year, I am almost certain you'd get it in second year providing you had decent grades. I was offered 2 quarters of TA support in first year (+ necessary int'l student support to pay fees), but was not initially offered a TAship. I was later offered one once the fall quarter started.

I'm somewhat concerned about this out of state tuition scholarship that International students need to get. I have an offer from UCSC that covers this for the 1st year but wondered what would happen there after.

Some people have mentioned that International students have to work "harder" and get "good grades" but I wondered how is this measured? Has anyone passed comps but not received the out of state tuition scholarship during their second year for example? Or better still, has any International student made it to second year and not get an out of state tuition scholarship? Also, once you are in your dissertation stage (lets say 3rd year onwards), do you still need to get a tuition scholarship?

I would love to get your input on this TBK. Many thanks!

[TheBrothersKaramazov]

I received a similar offer in first year, and was somewhat concerned that it might not be renewed in second year. Once you get here, you find out that virtually every international student without an external fellowship or funding from their CB/other institution receives the out-of-state tuition waiver. (Again, we're entering into uncharted waters with this recession and UCSC being a state school). That said, let me describe my class: In first year, two people failed the first econometrics (211A), and one failed the second (211B), and two failed the macro prelim the first time around (but passed on the 2nd attempt). The grades ranged from A+ to pity-passing, and all of us got full support for 2nd year (ie. TAships/RAships + int'l tuition waivers).

In the fall quarter of 3rd year, the department insists that (international) students advance to candidacy by taking the oral exam (which tests your knowledge of the literature in your proposed area of research). Once you reach candidacy, your tuition fees drop to 0 (and all you have to pay is your campus fees). At this point, the dept doesn't have to provide the non-resident tuition waiver to the int'l students. (The pressure isn't as high for the resident students, as the dept doesn't have the additional financial burden). If you are making satisfactory progress in the program, you are usually assured TAships until the end of 4th year. By 5th year, you should be getting external funding or lecturing courses.

[mysorelboots]

That said, let me describe my class:

Hello thank you for the great info.

What does the 1st year coursework look like? Is there flexibility? And most important... do you think I can fit all my classes into 2-3 days? I need to hit the waves...

[TheBrothersKaramazov]

August and September are great times to go surfing. Are you bringing a car down? you won't be able to take a surfboard on the bus. People have figured out ways to strap their boards onto their bikes.

Nah, i think your class schedule will be 4 days per week (you'll likely have friday off). I bet you'll have macro in the evenings on M, W with Ken and micro with Phil at 8 am in the morning (Tues, Thurs). And I don't know when you'll have econometrics. I wonder who will teach your econometrics... No flexibility other than being able to take EXTRA classes!
In the fall, you'll find macro to be the most challenging course. You'll get weekly problem sets which are doable, but algebraically intensive. Micro will be very straightforward in contrast. Your professors will be excellent - both ken and phil explain the material very thoroughly. Depending on who teaches your econometrics, it could be alot of theoretical work, or a fair amount of empirical stata/matlab work.

Then second quarter will be reversed: Game theory will be the tough class, macro will be relatively more straightforward... (econometrics, who knows!); then third quarter, econometrics (time series) with Yin-Wong will be your biggest challenge!

But the faculty here encourage group work, and you can always pop by the offices of 2nd and 3rd years for some help. There are no TAs for graduate classes, so you might as well ask around.

[mysorelboots]

August and September are great times to go surfing. Are you bringing a car down? you won't be able to take a surfboard on the bus. People have figured out ways to strap their boards onto their bikes.

Nah, i think your class schedule will be 4 days per week (you'll likely have friday off). I bet you'll have macro in the evenings on M, W with Ken and micro with Phil at 8 am in the morning (Tues, Thurs). And I don't know when you'll have econometrics. I wonder who will teach your econometrics... No flexibility other than being able to take EXTRA classes!
In the fall, you'll find macro to be the most challenging course. You'll get weekly problem sets which are doable, but algebraically intensive. Micro will be very straightforward in contrast. Your professors will be excellent - both ken and phil explain the material very thoroughly. Depending on who teaches your econometrics, it could be alot of theoretical work, or a fair amount of empirical stata/matlab work.

Then second quarter will be reversed: Game theory will be the tough class, macro will be relatively more straightforward... (econometrics, who knows!); then third quarter, econometrics (time series) with Yin-Wong will be your biggest challenge!

But the faculty here encourage group work, and you can always pop by the offices of 2nd and 3rd years for some help. There are no TAs for graduate classes, so you might as well ask around.

8am class... WOW. Very rough.

Thanks for the info & tips. Two last questions please:

1) Which is the preferred software package within the department (i.e. which is loaded on the department computers)? I know Stata and R from my MS Stats program at UCLA... but would prefer to work with Mathlab or even SAS, although many times it is not supported at universities because of cost.

2) Are sharks are a genuine concern in the local waters?

[TheBrothersKaramazov]

Hmm...
1.The more software you know, the better. Especially if you want RA work. (few people here know SAS, which will come in handy).
Matlab is the most frequently used software, followed by STATA. Increasingly more faculty are using R.
(On our computers, we have access to Matlab, stata, R, Maple, mathematica).

The dept is Mac-friendly.

2. I WILL NOT GO IN THE WATER IN FEAR OF BEING MAULED TO DEATH BY THE SHARKS!!!
-You do see tons of people surfing though.
-A graduating masters student (former surfing instructor and competitor) told me that there are some days where you just "feel" that the sharks are under your board and it's time to get out of the water.
-Go for the gill and eyes: How to Survive a Shark Attack - wikiHow

Actually, what has a higher death rate is people falling from the cliffs. There are high cliffs along the coast. Undergrads (and others) like to wander around them at night after partying and fall. My roommate had a bad fall back in her first year of the PhD during a night of partying, and broke her arm.

Keep asking questions! I'm on spring break in Vancouver and am trying to avoid doing research... Anyone planning to live in grad housing or family housing? I have lived in both.

Grad housing: 4 people to an apartment. 2 bathrooms. fairly spacious kitchen. I'd recommend apartments on the 2nd or 3rd level (if you can request them). Generally very nice. In the process of being remodeled. The benefit is the proximity to the dept and central location on campus. But for $800+ per month, it's ALOT for a little amount of space. But you can meet some nice people - which helps when you don't know many people. Also, you don't need to buy furniture, or set up internet/utilities/land line.

Family housing: if you are planning to apply, apply ASAP. The wait list is LONG. Rent is currently $1210, but expected to rise to $1270-ish by July. The apartments are very nice and spacious, but unfurnished. Heating is terrible though: the apartments are strangely warm upstairs in the living room/kitchen area and very cold downstairs in the bedrooms. A little less conveniently located - -ie. a 15 minute walk to the dept, or a 2.5 minute campus bus ride. Try to avoid 700-800 loops as that's where the rotten children from hell play. (daycare/playground area). My apartment backs onto the playground, and the noise is constant all day long.

Rent off campus:
I know of studio apartments right downtown, at St. George's Place:St. George Residences, Downtown Santa Cruz
My classmate has been living there for two years. It's basically converted hotel rooms.. double bed/tv/kitchenette.. but no internet. I think he's paying close to $800/mo.
Other people have rented rooms in houses nearby. You can expect to pay between $500-800/mo depending on location.

One benefit that I've come across is the Food Pantry. Basically, because we are poor grad students below the poverty line, we can get some free food biweekly (1st and 3rd Wednesday of every month, 4pm). Fresh vegetables, bread, eggs, milk, etc. This is done at FSH, but is available to anyone in the santa cruz area below a certain income - which is us. They encourage more people to enroll so that they can get additional assistance from the government..

Other things: You've got about 4 grocery store options nearby:
Safeway
Trader Joes (which as a Canadian, I absolutely love!!)
New Leaf (organic foods)
Staff of Life (more organic foods, but further away - ie. might need a car).

There is also the farmer's market every Wednesday, where you can get some fresh produce. It's cool, but maybe slightly over priced. But maybe you can bargain.