Underrepresented Minorities in Economics

Economics looks at the scarcity of resources and the decisions individuals and society enact to allocate the limited resources they face. As economists, we analyze and decipher the decisions we make, predicated on assumptions of human behavior. Without unique perspectives, or viewpoints we miss an accurate portrait of societal behaviors that negatively impact the models we use and create to understand the world around us. Inclusivity is key to providing a wide range of viewpoints, but unfortunately, economics has been dogged by lack of diversity for many years. In 2014 only 8% of doctorate degrees were awarded to African American, Latinx, and Native American students. The unique life experiences of these students are essential to the field of economics, and too often we see minority groups underestimate the importance, skills, and contributions they make to the study. UME wants to harvest a community of underrepresented students to take on the issue of diversity directly. We want to boost the presence of Latinx, African American, Native American, and Women in economics whether in the private sector or academia. Our community will work together to empower each other. We plan on providing mentorship and guidance from professors, graduate students, and upperclassman to provide the best opportunities and know-how for students interested in the field of economics. It is important to give members a chance to network, but also to learn valuable skills necessary to succeed. We will provide workshops on economic essentials such as R, Stata, econometrics, and economic fundamentals. Also, UME will work on making economic material accessible to expose the field of economics and garner interest and spark a new generation of economists.