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A candidate for honors must have a GPA of 3.5 or better in economics courses beyond Principles at the end of his or her junior year.  An economics major who expects to meet the grade requirements noted above and who wishes to do research leading to department honors should consult the member of the department in whose field the project would be. Ideally, preliminary discussion should take place the semester before undertaking the work. If the faculty member approves the project topic, the student registers for Economics 4050.

While honors-quality projects occasionally can be completed in one semester, most require two semesters—and are completed in the fall and spring of the senior year with the student enrolled in Economics 4050-51 for those semesters. In some cases, preparatory work may be done in a regular course, particularly at the 3000-level. It is also conceivable that a project could be done outside the formal framework of Economics 4050-4051.

The College catalogue describes the general rules for independent study. The independent study registration form is available from the registrar.

During the semester(s) the student is enrolled in Economics 4050 and 4051, the student and faculty supervisor should meet regularly to discuss the progress of the work. In two-semester projects, the faculty supervisor may require interim papers.

Prospective honors candidates will normally have an opportunity to present their work-in-progress to other Economics 4050 students and faculty at an honors seminar. Candidates are required to present at least once at the honors seminar during the year, in addition to the final honors project defense.

In one-semester projects, or in the concluding semester of two-semester projects, a typed first draft of the project report should be ready for review by the faculty supervisor and second reader at least three weeks before the beginning of the reading period.

Following the faculty advisor and second reader's review of the first draft, the student should prepare a second draft taking account of criticisms and recommendations by the two readers. It is normal to expect substantial revision between the first and second drafts.

The second draft is due at least one week before reading period. The grade for Economics 4050 and 4051 will be based on this draft. This draft should be complete and in good form. A manual, such as A Manual for Writers of Papers, Theses, and Dissertations by Kate Turabian, should be consulted for proper form, documentation of references, and organization.

If the faculty supervisor believes the project to be of honors caliber, copies of the second draft are circulated to the second and third readers, additional members of the department who thus comprise the Honors Committee. An oral presentation is scheduled, normally, during reading period. The oral presentation concerns primarily the honors project; however, a student may also be asked to explore the connections between the project and the core of economic analysis.

Additional changes in the paper are usually required after the oral presentation. These should be incorporated in the third and final draft, three copies of which are to be prepared by the student. The original is placed on file in the library, the second copy remains in the economics department, and the third is kept by the student.