College Economics vs. Wharton: What’s the Difference?
/As a junior majoring in Economics in the College, I often get mistaken for a Wharton undergraduate student or get many confused questions regarding the similarities and differences between the two tracks. The Wharton Undergraduate Division answers this question in a simple manner: “When you are deciding on where to go to college, you should ask yourself whether you want to focus on the theory of economics (BA) or the application of economics and business knowledge (BS in Economics).” I actually think there are more nuances to consider when making this important decision, so here’s a list of some similarities and differences, specifically on course requirements and professional opportunities:
Similarities:
Both tracks allow you to learn microeconomics and macroeconomics theories, to a varying scale of depth.
Both College and Wharton students often choose similar career paths after receiving their degree, as both are structured around analytical thinking. Popular fields include: Finance, Management Consulting, Research, Tech, and Public Policy.
Both tracks have extensive alumni support and mentorship opportunities, such as the Ben Connect Program (upenn.edu).
Both have access to Penn professional development programs and research opportunities, not limited to Career Services | University of Pennsylvania (upenn.edu) and Penn CURF (upenn.edu).
Differences:
You will receive a Bachelor of Arts (B.A.) degree in Economics in the College of Arts & Sciences, while you will receive a Bachelor of Arts (B.S.) in Economics in the Wharton School of Business.
At Wharton, you will “concentrate on specific areas of business such as finance, marketing, or management”. This means that you will not delve into the theoretical and fundamentals of economic theory, and will focus more on current business topics. However, as a College Econ major, you will deepen your understanding by studying macroeconomic concepts, mathematical models, fiscal policy, and international finance.
Translating to course requirements, the CAS Econ major will take a minimum of 12 CUs (credits) of Economics courses. Other than these requirements, they will work on their general education requirements, and any additional major/minor requirements and electives, located here. College students often pick up a Wharton minor such as Statistics or Consumer Psychology, and are able to take Wharton classes as electives.
The Wharton undergrad student will take a minimum of one Econ class (ECON 0110) that covers both the fundamentals of microeconomics and macroeconomics. Their complete requirements are located here, which consists of their concentration requirements and other business requirements.
To quickly summarize, Wharton students will automatically receive a B.S. in Economics, while concentrating in business fields (i.e. finance, marketing, management, etc.), while College students are eligible to major in Economics and receive a B.A. degree. The former will learn the fundamentals, then move onto applying the knowledge to business scenarios while the latter will take a more laser-focused approach in learning different topics in economics.
Making a decision between the two will come down to an individual student’s interests in learning the ins and outs of economics theories in an interdisciplinary manner vs. learning the fundamental concepts then choosing to focus on a business setting. This is because while their approach to learning and curriculum are different, both tracks prepare students for a diverse array of professional fields.
- Rachel L.