<p>What are the benefits of an undergraduate study of economics at Chicago rather than at Wharton?</p>
<p>Well, the obvious difference is that Wharton is a “b-school” while the Econ department at Chicago is part of the Social Sciences division. Everything else flows from there.</p>
<p>Chicago’s Econ department says of its undergrad concentration:</p>
<p>The B.A. program in economics is intended to equip students with the basic tools to understand the operation of a modern economy: the origin and role of prices and markets, the allocation of goods and services, and the factors that enter into the determination of income, employment and the price level.</p>
<p>Wharton describes their undergrad program thus:</p>
<p>More than fifty percent of the courses you take will be in business education. The remaining will be in the arts and sciences. The business fundamentals include a nine-course core comprised of management, finance, accounting, statistics, marketing, and operations and information management. In addition, you will take upper-level courses in an area of specialization, as well as business electives and courses in various areas such as societal, organizational, and global environments.</p>
<p>It’s like the difference between studying theoretical physics vs. mechanical engineering or biology vs. medicine - one (lib. arts economics) is focused on the theoretical aspects of the subject (and advanced courses just give you more advanced aspects of the theories) , the other also studies basic theory also but then goes on to study real world applications of the theory.</p>
<p>Chicago also has a more extensive liberal arts core. My Chicago interviewer said (paraphrased), “If you’re looking for a highly specialized education, you’re not going to find it at Chicago. Our curriculum aims to give you a strong educational foundation.” </p>
<p>Primary reason why I didn’t attend Chicago. My goal is to attend a pre-professional school with many opportunities for specialization. It just depends on your preferences.</p>