The Department of Economics and the Graduate Group in Economics offer instruction at both the undergraduate and graduate (Ph.D.) levels. Resources and expertise are available for the study of basic theory, quantitative methods, applied analysis, the structure of modern economies, and the formulation and evaluation of economic policy. In addition to a number of core course requirements for both the B.A. and Ph.D. degrees, the department offers a seminar and workshop series which train graduate students to conduct independent research. Notably, the department's faculty is ranked among the top six in the nation in research output.
The Economics Department is one of the larger and more active in the School of Arts and Sciences. The faculty is currently composed of approximately 40 full-time members and a number of secondary appointments, primarily from the Wharton School. In addition to sizable undergraduate course enrollments, the department averages the largest number of B.A. degrees granted per year (193) over the five year period 1985-1990. Its graduate program is also among the largest, averaging 17 Ph.D.s per year over the same period, and leads to teaching and/or research in both the public and private sectors. The number of M.A.s granted is unknown.
The broad nature of the field is evident in the Economics Department's collaborations with other schools and departments. It has ties with the Wharton School, the Law School, and with numerous SAS departments. The establishment of joint research centers, such as the Institute for Law and Economics, is a manifestation of these ties. A number of other centers, including the Economics Research Unit (ERU) and the Center for Analytic Research in Economics and the Social Sciences (CARESS), function within the Economics Department as focal points for those with similar research interests.