London: Economics

Group photo by the river front

Program Term:

Winter

Language Requirement:

None

Coordinator:

 Naira Ovsepyan

Application Deadline:

Final:

Note: The program will take place in London, U.K., in Winter 2024.

The College’s Winter Economics program is designed for students who have completed the core courses in the Economics major and want to learn further the methods and applications of economics in specific areas such as experimental economics, money and banking, and finance/strategic thinking.

    Students take three Economics courses in succession, all of which satisfy the electives requirements in the standard Economics track and the methods and electives requirements in the Business Economics track. In addition to classroom instruction, the program features a number of excursions to sites of historic and cultural interest both within and around London.

    As a prerequisite to this program, students must have completed the Economics core courses in either the Economics major Standard Track OR the Economics Business or Data Science Tracks prior to participation. Students who intend to complete the courses and are in the middle of the sequence at the time of application may be admitted on the condition of successful completion of these courses prior to enrollment. To confirm your eligibility for the program, please reach out to the Faculty Directors of the Economics program: Professor Victor Lima (vlima@uchicago.edu) and Professor Kotaro Yoshida (yoshidak@uchicago.edu).

    London program participants usually reside in shared, furnished studio apartments in central London. The apartments include fully equipped kitchens, private bathrooms, laundry facilities, and wireless internet access.

    It is important to recognize the cultural context of student housing in the UK and understand that the amenities of the student apartments may vary. Although some of these differences may take some getting used to, remember that cultural differences extend to all aspects of your experience abroad. Having realistic expectations for your term in London will help you approach the study abroad experience with a positive attitude.

    Participants in the London: Economics program remain registered as full-time students in the College. They take and receive credit for three economics courses (descriptions below). Course titles, units of credit, and grades are placed on the College transcript.

    The following courses were offered in Winter 2023:

    • ECON 19200/29200: (Introduction to) Issues and Methods in Microeconomics – Min Sok Lee
    • ECON 19300/29300: (Introduction to) Issues and Methods in Macroeconomics – Kotaro Yoshida
    • ECON 14000/24000: (Introduction to) Labor Economics – Julio Elías

    *Students completing the Business Specialization track in the Economics major will normally be registered for the 10000-level version of the courses. Students completing the Standard or Data Science tracks in the Economics major will normally be registered for the 20000-level version of the courses.

    These courses will satisfy elective requirements in the standard Economics major track OR the methods and electives requirements of the Business Economics major track.

    The London: Economics study abroad program is open to University of Chicago undergraduates in good academic and disciplinary standing who will have completed the Economics core courses in the appropriate track of their major by the time the program begins. Usually, this will be students in their third or fourth year of study. While the program stipulates no minimum grade-point average, an applicant’s transcript should demonstrate that they are a serious student who will make the most of this opportunity. Applications from outside the University are not accepted.

    Each study abroad program application is examined on the basis of the student’s scholastic record and personal statement. If you are interested in applying for this program please fill out the online application.

    Study abroad students pay regular College tuition, a program fee, and a nonrefundable study abroad administrative fee. The tuition and program fee are paid in conformity with the home campus payment schedule, and the nonrefundable study abroad administrative fee is submitted when accepting a place in a program. Precise figures for the London program during the 2022–2023 year are listed below:

    Winter tuition: as set by the Bursar’s Office

    Study abroad administrative fee: $675

    London program fee: $5,200

    Program fee includes:

    Out-of-pocket expenses include:

    • round-trip airfare to and from the program site
    • transportation on site
    • meals
    • course materials
    • personal entertainment and travel
    • communications (most students bring or buy a cell phone)
    • health insurance and upfront payments for care
    • other miscellaneous expenses
       

    Previous program participants report spending in the range of $200 to $250 per week on meals and incidentals while on the program, though frugal students may spend less, and others could spend much more. Bear in mind that the cost of living in London is relatively high and that, while it is possible to live frugally, it is also possible to run short of money if you are unwary. It is therefore essential that you budget your funds prudently, apportioning your resources so that they last for the duration of the program. If you are planning to travel before or after the program or on weekends, you should budget accordingly.

    Study abroad students retain their financial aid eligibility. For more information about financial aid resources, please see our Tuition, Fees, and Funding section.

    To discuss the London: Economics study abroad program and the possibility of participating, please contact Naira Ovsepyan.