An honors thesis in Economics should include a description of the methods, the results of the study, and a detailed analysis for one or more original research projects. The following are two recommended options students may choose to complete their thesis.

• Option I:   Students enroll in an ECON 495 seminar in both winter term of their junior year and fall term of senior year to complete their thesis. ECON 495 teaches students the process of defining and conducting a research project. Students will write a total of two substantively distinct papers: one in each section of ECON 495. The papers are then submitted as an honors thesis with the approval of the Director of Honors and the 495 instructors.

• Option II:   Students write the honors thesis independently with the guidance of a faculty member acting as a thesis adviser. Students typically write a single-topic research paper that is several chapters long. The paper is then submitted as an honors thesis with the approval of the Director of Honors and the thesis adviser. Students may enroll in ECON 498 to receive credit towards the completion of their Economics concentration plan.

Students are strongly encouraged to begin the thesis process with Option I. Many, if not most, will stay with Option I; however, some will switch to Option II along the way (see below).

Students are discouraged from beginning the thesis process with Option II. Option II is regarded as inappropriate and high-risk unless a student comes to it with a highly developed, outlined topic and evidence of a very strong likelihood of successful and timely completion.

There are two intermediate options that students may opt for instead of the options listed above. These options are less risky than Option II but more risky than Option I.

• Option III:   Students begin with Option I and then switch to Option II after successfully completing a research project in ECON 495. Students continue to work on the same research project as in ECON 495 but expand it into a more extensive single-topic thesis with the guidance of the 495 instructor and the Director of Honors. Students may enroll in ECON 498 for credit.

• Option IV:   Students begin with Option I and then switch to Option II to complete an entirely new research project. This option is chosen only if the student wishes to work on a research topic that is not covered in any of the 495 seminars. Students will work with the guidance of a faculty member to complete a paper similar in length to the one already completed in the 495 seminar. After completion, both papers are submitted as an honors thesis with the approval of the Director of Honors and the thesis adviser. Students may enroll in ECON 498 for credit.

Circumstances other than those discussed above are expected to be rare, and can be dealt with by the student and the Director of Honors on an ad hoc basis.