Economics Scholarships

The Department of Economics and Health Care Management is pleased to offer scholarships each year. The deadline for 2023 Scholarship applications will be announced in the spring of 2023. The scholarships will be awarded in the following fall/spring semester.

In order to be eligible, you must be enrolled as an Economics BA or Economics BBA major during the semester(s) the scholarship(s) disperse. 

Apply for Scholarships

Individual Scholarship Requirements
Some scholarship applications require disclosure of financial need through completion of a Federal Student Aid (FAFSA). Submit your free application for FAFSA prior to applying. FAFSA will utilize your information for the current financial aid year. To apply, complete only step one on this webpage.

Learn about specific scholarship requirements, including those scholarships requiring a FAFSA application, below.

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Economics Scholarship Award (in memory of Jim Davis)

This $1,500 scholarship is funded by the faculty and staff of the Department of Economics and is awarded in memory of Jim Davis, a former student, and his appreciation of undergraduate education in economics.

To be considered eligible for this scholarship, students shall:

  • Have officially declared a major in Economics 
  • Be full-time student
  • Have at least junior standing (at the time of application)
  • Have a GPA of at least 3.2

Jim appreciated the role of critical thinking in economics and the importance of being able to clearly communicate ideas. In recognition of this appreciation, the faculty of the Department of Economics ask that students complete an essay of 500 words describing what, in your opinion, might be an important economic issue in the 21st century (e.g., labor, environment, globalization, etc.). Be sure to define the issue and explain why it will be important.

Carolyn and Richard Lichty Scholarship

The $2,500 Carolyn and Richard Lichty Scholarship in Economics has been established to assist deserving upper-division undergraduate students at UMD who are pursuing a major in Economics. Dr. Richard Lichty is a Professor Emeritus of the Department of Economics—he retired from the department in Spring 2007.

To be considered eligible for this scholarship, students shall, at the beginning of the semester in which the award will be made:

  • Have officially declared a major in Economics
  • Be a junior or senior full-time student in good academic standing
  • Have completed all specific lower-division courses required of a major in Economics
  • Have at least a 2.5 GPA in all lower-division courses that will be offered to satisfy requirements for the B.A. or B.B.A. Degree
  • Have at least a 2.5 GPA in all specific lower-division courses required of a major in Economics, calculated separately
  • Complete a FAFSA application—only part one—to disclose financial need

Preference shall be given to a student who can show financial need and participates in extracurricular activities. This scholarship may be renewable to the recipient for one additional year, provided the recipient demonstrates satisfactory progress toward a degree and continues to meet the criteria of the award.

The scholarship may be renewable for one additional year providing the student shall maintain enrollment at 15-semester credits or more and maintain at least a 2.5 GPA for all courses offered to satisfy the requirement for a B.A. or B.B.A. Degree with major in Economics at UMD.

James A. and Rebecca J. Skurla Scholarship

The $1,500 James A. and Rebecca J. Skurla Scholarship in Economics has been established to assist deserving upper-division undergraduate students at UMD who are pursuing a major in Economics. James Skurla, who received his B.A. Degree in Economics from UMD and whose career at UMD included being an Instructor of Economics and Director of the Bureau of Business and Economics Research, retired from UMD in 2014. Rebecca Skurla, who was the Department of Economics Secretary for over 36 years, retired from UMD in 2019.

To be considered eligible for this scholarship, students shall, at the beginning of the semester in which the award will be made:

  • Be a junior or senior full-time officially declared Economics BA or BBA major
  • Be in good academic standing with at least a 3.0 cumulative overall GPA

Preference will be given to a student who is active in the Department of Economics (e.g., active member of the Economics Club, and/or student research assistant for Economics faculty or Bureau of Business & Economic Research, and/or participates in Department of Economics activities/events, etc.)

Thell Scholarship

The $1,000 Thell Scholarship in Economics has been established to assist deserving undergraduate students at UMD who are pursuing a major in Economics. Joseph Thell is a 2000 graduate of the Department of Economics.

To be considered eligible for this scholarship, students shall, at the beginning of the semester in which the award will be made:

  • Be a sophomore, junior, or senior full-time student who has officially declared a major in Economics
  • Have a cumulative GPA of at least 2.8
  • Complete a FAFSA application—only part one—to disclose financial need

Preference will be given to a student who is considered "active" in the department (an "active" student may include: a member of the Economics Club; a member of the Omicron Delta Epsilon (ODE) International Honor Society; a student who is working on or completed an Undergraduate Research Opportunities Program (UROP) project; a student who is working on or completed an independent study (outside traditional catalog classes); a student who has worked as an Undergraduate Research Assistant (including those working at the Bureau of Business and Economic Research); etc.)

David A. and Roberta J. Vose Scholarship

The $2,500 David A. and Roberta J. Vose Scholarship in Economics has been established to assist deserving upper-division undergraduate students at UMD who are pursuing a B.A. in Economics. Dr. David A. Vose served as Dean of LSBE from 1977 until 1992; in 1992 he returned as a faculty member to the Department of Economics. Dr. Vose retired in 2002. Roberta J. Vose is a graduate of UMD, earning a B.A. in Sociology.

Limited eligibility to students in the Economics B.A. Degree Program. To be considered eligible for this scholarship, students shall, at the beginning of the semester in which the award will be made:

  • Be a full-time student
  • Have officially declared a major in the Economics B.A. Degree Program
  • Have completed all specific lower-division courses required for a B.A. major in Economics
  • Have a 3.25 GPA in all lower-division courses that will be offered to satisfy requirements for the B.A. degree
  • Have a 3.25 GPA in all specific lower-division courses required of a B.A. major in Economics, calculated separately
  • Have no more than 65-semester credits remaining for completion of all requirements for the B.A. degree with a major in Economics
  • Complete a FAFSA application—only part one—to disclose financial need

Financial need shall be considered but shall be considered a secondary factor relative to academic achievement. This scholarship shall be renewable for one additional year providing the student shall maintain full-time enrollment and a 3.25 GPA for all courses offered to satisfy the requirements for a B.A. degree.