A student majoring in economics should acquire a thorough grounding in basic principles and methods of analysis, plus a working competence in several of the specialized and applied fields. Examples of such fields are industrial organization, law and economics, money and banking, international trade and finance, public finance, labor economics, health economics, urban and regional economics, and economic development. The major in economics can lead to either a Bachelor of Arts or a Bachelor of Science degree.
Course work in economics serves a wide variety of vocational objectives. An economics major (supplemented by a rigorous calculus and statistics course sequence) is excellent preparation for graduate work in economics, which qualifies a person for academic, business, or government employment. Majors and others with strong economics training are attractive prospects for business firms and government agencies, and for professional graduate study in business or public policy. An economics background is especially desirable for the study and practice of law. The economics B.S. is recommended for students interested in professions that call for quantitative skills. The B.S. is especially recommended for Honors students and students considering graduate school in economics or other quantitative areas.
For an economics major that leads to a Bachelor of Arts degree, students must learn twenty-four credits in courses at the 2000 level or above, including two intermediate theory courses (ECON 2201 or 2211Q and 2202 or 2212Q), plus at least nine credits in either quantitative skills courses (ECON 2301–2328) and/or ECON courses at the 3000 level or above. No more than six credits in ECON 2499 and/or 3499 may be counted toward the required 24 credits in economics courses at the 2000 level or above. ECON 2481 does not count toward fulfilling the major requirements.
Economics B.A. majors are also required to pass twelve credits in 2000-level or above courses in fields related to economics or to fulfill a minor related to economics. In addition, all Economics majors must take STAT 1000Q or 1100Q and one of the following: MATH 1071Q, 1110Q, 1126Q, 1131Q, 1151Q or 2141Q. MATH 1125Q or higher is recommended, and STAT 1100Q is recommended over STAT 1000Q. ECON 2311 is a recommended course for the B.A. Students may substitute more advanced MATH and STAT courses with consent of the faculty advisor.
For an economics major that leads to a Bachelor of Science degree, students must take STAT 1000Q or 1100Q (STAT 1100Q is recommended over STAT 1000Q) and one of the following MATH sequences: MATH 1125Q, 1126Q, and 1132Q; MATH 1131Q (or 1151Q) and 1132Q (or 1152Q); or MATH 2141Q and 2142Q. In addition, B.S. majors must also take one of the following: MATH 2110Q or 2130Q or 2210Q or 2410Q or 2420Q. Students may substitute more advanced MATH and STAT courses with consent of the advisor.
B.S. students must take one of the following science sequences in Biology, Chemistry, or Physics:
- Biology: BIOL 1107 and either BIOL 1108 or 1110.
- Chemistry: CHEM 1124Q, 1125Q, 1126Q; or CHEM 1127Q, 1128Q; or CHEM 1137Q, 1138Q; or CHEM 1147Q, 1148Q.
- Physics: PHYS 1201Q, 1202Q; or PHYS 1401Q, 1402Q; or PHYS 1501Q, 1502Q; or PHYS 1601Q, 1602Q.
One of these courses may be used to fulfill the CA 3 lab requirement of the University’s general education requirements. In addition, students must take one other CA 3 course from a different subject area, but it need not be a lab course.
B.S. majors must also earn 29 credits in courses at the 2000-level or above, including two quantitative intermediate theory courses (ECON 2211Q and 2212Q); a sequence in econometrics (ECON 2311 and 2312); and at least six credits from the following modeling and methods courses ECON 2301, 2326, 2327, 3208, 3313, 3315, 4206. Students may substitute equivalent graduate-level courses with consent of the advisor. B.S. majors may fulfill the requirement for ECON 2211Q and 2212Q by taking ECON 2201, 2202, and 2301, in which case ECON 2301 cannot be used to fulfill the requirement for six credits in modeling and methods courses. B.S. majors may not count ECON 2481 toward the major, nor may they count more than six credits in ECON 2499 and/or 3499.
B.S. majors are also required to pass 12 credits in 2000-level or above courses in a field or fields related to economics. These related area courses may count toward a minor in a field related to economics. For both the B.A. and B.S., the intermediate theory courses (ECON 2201 or 2211Q and ECON 2202 or 2212Q) should be taken early in the student’s major program. The department has special requirements for economic majors in the University Honors Program.
Economics majors satisfy the information literacy competency by passing at least one W course in Economics. Students may gain enhanced competence in information literacy by taking ECON 2311, 2312W, 2326, or 2327. Economics majors satisfy the writing in the major requirement by passing at least one W course in Economics.
A minor in Economics is described in the “Minors” section.