Despite an inundation of news, rumors, and statistics relating to the nation's economy - from industrial organization and investments to interest rates and the stock market - do Tufts students find themselves trapped in a bubble of indifference to the economic reality that awaits their graduation?
For what may be the last time in their lives, many students find themselves without real financial responsibilities. When presented with the latest headlines from the Wall Street Journal, most shrug their shoulders. As freshman Alex Weissman puts it, "Umm, yeah.... Riiight."
"I just don't see a relevance to my day-to-day life," Weissman said. "I realize [the economy] has an impact on the country, but I just don't think about it."
While their folks are hard at work financing Jumbo educational expenses, many students seem removed from the general economic concerns that plague their parents - and the rest of America.
"I definitely follow it less than I will when I'm in the job market," sophomore Sara Rosenbaum said. "But following [the economy] is not part of my daily list of activities because there are other things that affect me more immediately."
Freshman Sika Henry also feels that as a college student, she just doesn't have the time to keep up with what is going on in the economy.
"I don't watch the news enough to know what's going on, and just don't have the time," said Henry, who admitted that she had to cut back her expenses in the transition to college life. "My parents handle all the finances so I don't really have to think about it that much."
While many students give economic issues little thought, others realize the importance of having at least a minimal level of awareness and occasionally stepping outside the bubble.
"I just listen to what my parents tell me... but I know the basic gist of what's going on," freshman Shimrit Koren said. For Koren, who has an on-campus job to help pay for school, the state of the nation's economy is a more significant issue.
"[The economy] matters sufficiently because my parents have to finance college and our money depends on the stock market and how the economy is doing," Koren said.
Despite a slight rebound last October, the market has suffered tremendously since Sept. 11. The economic recession and its source - be it Clinton, Bush or the threat of biological terrorism and plane hijackings - seem to matter little to many students.
"Even 9/11 is a mental thing unless it affects you personally," freshman Tak Yuen said. "You can put all these thoughts into [economics], but it won't do anything. Why bother thinking about things like that? It just doesn't have anything to do with me."
Others students, however, disagree and these students are often extremely knowledgeable about current economic issues. Freshman Nakeiha Primus became more sensitive to financial issues after she took two economics classes in high school.
Primus says it is important to follow the economy and look to the future.
"I am not always looking at what's going up and down but I follow the trends to see what's available when I graduate... You have to see what the job market is like if you plan to enter it," Primus said.
Economics majors are characteristically well-informed of financial issues. For economics majors, reading the newspaper and keeping pace with current issues is not only of academic interest, but a way to supplement their classroom experience. Professors in the economics department also try to integrate what is really happening in the business world with their curriculum.
"Especially in upper level economics classes, the teachers have really stressed following the Enron scandal and the Bush budget proposal," said junior Ed Edson, an economics major.
Professor Karen Eggleston, who teaches health economics, plans to have her classes participate in a series of four different debates on current policy issues to stress the importance of following the current economy and to bring its reality to light.
"In my view, you need economics to read the front page of the New York Times," said Professor Linda Loury, a labor economist who has been teaching at Tufts for 18 years. "These issues certainly should be a concern. There are so many changes in social security that will affect you and me," she said.
Loury noted the importance of economics and keeping pace with the markets, even if her students do not always meet her expectations.
"Sometimes I say things in class [that I] assume they are knowledgeable about and they aren't. But some are extremely [knowledgeable]."
In his second semester at Tufts after teaching at Oberlin College, Professor Steven Yamarik has been very pleased by the awareness and interest taken by students in his economics classes. He attributes this to two factors: the University's location near the city of Boston and the type of students that Tufts attracts. "[Students] really seem to want to know what's going on," Yamarik said. "Last semester, I was very impressed... students did research papers and presented them to the other students." Yamarik also noted that many students chose to focus on topics in other parts of the world.
Many international students often have a more global economic perspective. For them, economic interest is often less focused on the American market and more on the stability of their native country. Freshman Unger Kung, who plans to major in International Relations and Economics, would like find a career in the developing Asian business world, particularly in China.
Born in Taipei, Taiwan, Kung recently attended an Asian Business Conference sponsored by the Harvard Business School where he gained a better understanding of Asian economics.
"[I] learned from the business people viewing Asia rather than our just reading the newspaper," Kung said.
Still, Kung admits that these issues aren't yet a part of his daily life at Tufts. "I wouldn't say I think about it on a daily basis... because [Asian business] doesn't seem very relevant to the general American population."
