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Econ82
02-07-2008, 03:08 AM
Hi guys,

i ve been more of a lurker than an active participant of the forum upto the moment, mainly due to lots of work. one of the places that i applied to is ucsanta cruz. they have a program in international econ, a field which id like to specialize, and ive seen they rank fine in this field. has someone heard about the quality of their program? is somebody else applying there?

veroniquaz
02-07-2008, 07:54 AM
look up posts by TheBrothersKaramazov. She joined the program last year and made a couple of comments about the program. Also there is a couple of threads from last year where accepted people, including me, discuss the program. Just use search.

TheBrothersKaramazov
02-08-2008, 06:47 AM
feel free to post more specific questions here or PM me. I just started my PhD this fall after finishing my MA at UBC. I'm pretty satisfied with the program here; the faculty seem to have very strong reputations in monetary and international economics - with many connections at IMF/Fed Board of Gov. / WB, and other central banks.

econphilomath
02-08-2008, 12:48 PM
I imagine that it has a small close econ dept. If you like Monetary Theory, you could have Carl Walsh for adviser and I'm pretty sure he has tons of contacts at CBs everywhere.

Econ82
02-08-2008, 01:34 PM
thanks. i was reading the thread that veroniquaz pointed out and got quite informed with that. I apologize about not finding it before, ...discovered te search function.
i still have some questions, if tbk could help me...

how is the academic atmosphere? are there enough seminars, people motivated with research, etc...?

how difficult is it to get in? i scored 800 / 630 / 5 on the gre and i believe my letters are good (though not well known), and i have a 10% undergrad and MA ranking. should i be fine?

it seems that ucsc is progressing in recent years, is it so? that is very important....

is monetary a strong field? i know walsh is there, but is there somebody else?

that is more or less it...thanks

TheBrothersKaramazov
02-08-2008, 05:52 PM
how is the academic atmosphere? are there enough seminars, people motivated with research, etc...?

Academic atmosphere - very good. Faculty are all very active researchers, and we have weekly macro and international seminars. The faculty are particularly well connected, as many of them worked for the feds IMF WB, etc... as well as in top departments.

The department is particularly slanted to macro, monetary, development, and international finance. If you have any desire to do micro or theoretical econometrics - this is not the department to be in. I was very interested in the program because there are a couple of strong experimentalists, Dan Friedman and Ryan Opera. I am interested in experimental macro, so I am hoping to combine their experimental expertise with that of the international/macro group.

There is a strong emphasis on applied time series (since its relevent to macro), and a couple of microeconometricians.

I also particularly like the availability of classes in the Applied Math and Stats dept. I am doing basically a joint phd in international economics and applied math and stats. You do not apply for it directly, but just take the course work in the AMS dept, and when you graduate, you graduate with a PhD in International Economics (Applied Mathematics and Statistics).

My reasoning for doing the math work is that the department does not emphasize proofs enough (or at least, I don't think so). They argue that they are teaching you what you need to know to do macro/int'l finance research - which I guess might not be so proof-based?? I don't know. Anyway, due to this, I have been seeking extra courses in the math depts.



how difficult is it to get in? i scored 800 / 630 / 5 on the gre and i believe my letters are good (though not well known), and i have a 10% undergrad and MA ranking. should i be fine?


I know of people with excellent profiles that did not get accepted. Everyone in my incoming class were in at least the top 5-10% of their class. (Albeit, many of these people did not take much math). I think it really comes down to fit. The department definitely reads the SOP to gauge your interests.




it seems that ucsc is progressing in recent years, is it so? that is very important....


I believe and hope so. The department keeps telling me that they've only been graduating Phds for 15 years. it's a very young phd program. BUT, despite that, the placements to Board of Governors, IMF, WB, etc. have been excellent. Academic placements - so so. Two years ago, one PhD got placed at Purdue, but turned it down to stay in San Francisco. Another was placed at Indiana - Bloomington - - he is now at Copenhagen. The impression that i get is that many of the past graduates did not want to do academia when they finished. Many foud jobs in organizations listed above. But the department certainly pushes their students towards academic jobs.

I think that the quality of PhD students keeps increasing yearly. Again, much of the onus is on the student. If you push yourself, and have a great JMP, then you will find a good job. The faculty are definitely supportive in this respect - but again, you have to push yourself to do good work.




is monetary a strong field? i know walsh is there, but is there somebody else?


Federico Ravenna is also very strong. The department is recruiting for macroeconomists (and international as well), and they are likely going to extend an offer for an associate professor position.

Econ82
02-09-2008, 02:12 AM
thanks a lot, i have a much better idea now.

zsla
02-09-2008, 02:45 AM
I am interested in experimental macro, so I am hoping to combine their experimental expertise with that of the international/macro group.

What you guys are doing in experimental macro? It is not quite clear to me.

TheBrothersKaramazov
02-09-2008, 06:13 AM
well, little has been done in macro - but John Duffy (at Pittsburgh) and many European experimentalists (eg. Selten, Nagel) are branching into this area.

-Can look at inflation targeting and central banker games
-overlapping generations
- global games, coordination problems
I attended the experimental macro summer school in Barcelona last summer. Leex: Laboratori d'economia experimental (http://leex.upf.edu/bleess07.htm)
Very interesting stuff.

fp3690
02-09-2008, 01:13 PM
well, little has been done in macro - but John Duffy (at Pittsburgh) and many European experimentalists (eg. Selten, Nagel) are branching into this area.

-Can look at inflation targeting and central banker games
-overlapping generations
- global games, coordination problems
I attended the experimental macro summer school in Barcelona last summer. Leex: Laboratori d'economia experimental (http://leex.upf.edu/bleess07.htm)
Very interesting stuff.

It sounds interesting. Could you point at a couple of seminal articles in the field? I am interested in both behavioral and in macro, and I have been looking for a way to branch these too.

zsla
02-09-2008, 03:42 PM
well, little has been done in macro - but John Duffy (at Pittsburgh) and many European experimentalists (eg. Selten, Nagel) are branching into this area.

-Can look at inflation targeting and central banker games
-overlapping generations
- global games, coordination problems
I attended the experimental macro summer school in Barcelona last summer. Leex: Laboratori d'economia experimental (http://leex.upf.edu/bleess07.htm)
Very interesting stuff.

Are you doing this like in a partial equilibrium setting? because it is hard to catch and also test general equilibrium effects in these sort of natural experiments.

TheBrothersKaramazov
02-09-2008, 04:41 PM
It sounds interesting. Could you point at a couple of seminal articles in the field? I am interested in both behavioral and in macro, and I have been looking for a way to branch these too.

If you click on this link, and go to "course lectures", you will see a listing of many key papers in the area.

Leex: Laboratori d'economia experimental (http://leex.upf.edu/bleess07.htm)


Are you doing this like in a partial equilibrium setting? because it is hard to catch and also test general equilibrium effects in these sort of natural experiments.

First, I wouldn't call them "natural experiments". These are laboratory experiments. Most experiments are done in a partial equilibrium framework, but more are advancing into GE. I recently came across a currency trade experiment that Selten was supervising, where the economy was fully represented. Labour market, goods market, bonds market, gov't, central bank, firms, etc. for two different countries. It was a highly stylized experiment, but it was a first good step. Because it is in the lab, general equilibrium results can be illicted. It's good for determining which eqa are more stable. Whether a GE framework makes things far more complicated for the players - I don't know. I myself have done labour market experiments, similar to that of Fehr, Falk, and Brown. But it was certainly not GE.