U of I's largest college just got bigger. This past fall, the Department of Economics moved its 40 faculty from the College of Business to LAS, becoming the college's 53rd department. The change was in response to the greater compatibility between the goals of the department and those of LAS versus the College of Business. According Steven Williams, the department's head, "Business focuses more on its MBA program whereas Economics concentrates more on its PhD and undergraduate programs. It just made sense to be in LAS."
Students in LAS won't notice much difference. They have been able to graduate with a BA degree in economics, through LAS, for many years. But students enrolled in the College of Business will see their BS program in economics phased out. This latter program includes the same economics courses as does the LAS program but differs in its other required courses, all of which have a business focus.
The Department of Economics was founded in 1895 by David Kinley, a distinguished professor of economics and later U of I president, who then founded the School of Commerce in 1902. The school evolved into the College of Commerce and Business Administration, which changed its name to College of Business this past year.
The department is recognized for its strong PhD program, its masters program in policy economics, and its focus on international economics and developmental economic theory. The graduate program consistently ranks among the top programs in economics by U.S. News and World Report.
A benefit of moving to LAS, according to Williams, will be the opportunity to expand undergraduate course offerings. The department graduates an average of 200 economics majors a year.
