The Economics Department of the University of Pennsylvania (commonly referred to as Penn Economics) is part of the school's Arts and Sciences division. Its undergraduate program is one of the largest in the School of Arts and Sciences. It also offers graduate courses leading to a Ph.D. in economics. Students enrolled in Wharton as undergraduates share some of the classes with students from the Economics Department, but the two degrees have otherwise separate curriculum. Penn Economics is generally associated with the saltwater school of economic thought (along with University of California, Berkeley, Brown University, Harvard University, Princeton University, Columbia University, MIT and Yale University).