About UCSB Economics: The Past and Present
UCSB’s Department of Economics was established with a handful of faculty members in the early 1960s. Since then we have grown to 31 faculty and 2400 majors, the largest major on campus. Economics is also, by far, the largest Social Science major at UCSB, with 37% of all majors. Our major has one of the highest GPA entry requirements in Social Science, and our graduates do very well: In a 2005 survey of graduates from the prior year, the median full-time starting salary was $47,200, with 42% earning $50,000 or more. Approximately 47% enrolled in a graduate or certificate program within one year of graduating, while 36% planned on enrolling in a post-graduate degree program within five years. Over the years, the department has produced many distinguished alumni, including Jeff Henley, chairman of Oracle Corp; Maurice Duca, Partner, Investment Group of Santa Barbara; Bob Duggan, director of Intuitive Surgical, Inc., Computer Motion, Inc.; Jim Pitblado, Senior Vice President, Bank of America; William Rauth, Partner/Attorney, Stradling, Yocca, Carlson & Rauth; and Richard D. Nanula, Executive Vice President and CFO of Amgen, Inc.
Although the establishment of the department was still a decade away, our MA program started in 1953. It currently averages 40 graduates per year. Graduates in both the Economics MA and the Master of Arts in Business Economics (MABE) obtain highly desirable jobs in a variety of private- and public-sector organizations. Our PhD program began in 1963; we presently graduate about 8 PhD’s per year, most of whom are placed as professional researchers or university professors across the world.
UCSB economics also claims some significant research achievements. Among recent accomplishments are Finn Kydland’s 2004 Nobel Prize in Economics, Charles Kolstad’s recent service as President of the Association of Environmental and Resource Economists and Gary Libecap’s service as President of the Economic History Association and President of the Western Economics Association International.
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