Economics (BA)

The Economics major is designed to make a unique contribution to the student’s liberal education. The program provides students with the insights of scientific analysis and social perspective to deepen their understanding of the complex economic forces at work in society. Such an understanding is an essential ingredient in the development of an educated person. The program is also designed to prepare the student for a variety of options after graduation, including graduate programs and managerial programs in business and finance.

Students must complete the two-semester Principles of Economics sequence (Principles of Microeconomics ECON 10010/ECON 20010 and Principles of Macroeconomics ECON 10020/ECON 20020 or equivalent). Beyond the Principles courses, the major requires a minimum of eight (8) additional course (26 credits) in economics at the junior/senior level (numbered 3xxxx or 4xxxx).

Math Requirement

A course in Calculus (MATH 10360 or equivalent) is a prerequisite for both of the intermediate theory courses. (See core requirement below).

Recommendation: It is strongly recommended that students, especially prospective economic majors, who have not had a course in calculus enroll in MATH 10360 or equivalent during their first year of study.

Core Requirement

Students must include the following four courses among their minimum of eight courses in economics beyond the Principles course.

ECON 30010Intermediate Economic Theory--Micro3
ECON 30020Intermediate Economic Theory--Macro3
ECON 30340Statistics for Economics4
ECON 30341Econometrics4

Advanced Course Requirement

Students must include a minimum of two courses (6 credits) at the senior level (numbered 4xxxx) that have either of the intermediate theory courses (ECON 30010, ECON 30020) and/or Econometrics (ECON 30341) as a prerequisite.

Writing-Intensive Requirement

In completing the minimum of 26 credits at the junior/senior 3xxxx/4xxxx level, the student must fulfill a writing-intensive requirement. This requirement can be satisfied in one of the following three ways: by taking a junior or senior 33xxx/43xxx-level economics seminar course; by taking a three credit special studies course consistent with the college’s writing-intensive guidelines under the direction of an economics faculty member; or by writing a senior honors thesis under the direction of an economics faculty member.

Departmental advisors will assist students in designing a program of study that meets their educational and career goals. Students are also encouraged to pursue related courses in other departments of the College of Arts and Letters, the Mendoza College of Business, and the College of Science.

Economics Honors Program

Entry Requirements

To be eligible for admission to the Undergraduate Economics Honors Program, the student must:

  • Complete Intermediate Microeconomic Theory (ECON 30010), Intermediate Macroeconomic Theory (ECON 30020), and Econometrics (ECON 30341) with a minimum grade point average in these courses of A– (3.667)

    OR 

  • Have a minimum cumulative GPA of 3.4 and minimum GPA of A– (3.667) in Principles of Microeconomics (ECON 10010/ECON 20010) , Principles of Macroeconomics ECON 10020/ECON 20020) , Intermediate Microeconomic Theory (ECON 30010), Intermediate Macroeconomic Theory (ECON 30020), Statistics for Economists (ECON 30340) , and Econometrics (ECON 30341 ).
  • Have completed a minimum of nine courses (27 credit hours) at the junior/senior level. This includes the four required core courses — Intermediate Microeconomic Theory (ECON 30010), Intermediate Macroeconomic Theory (ECON 30020), Statistics for Economics (ECON 30340), and Econometrics (ECON 30341), and five additional courses at the junior/senior level (numbered 3xxxx/4xxxx), with at least three of these five being at the senior level (4xxxx). The two required capstone courses (see below) can count towards the five additional courses required beyond the four core courses.

Capstone Experience

The capstone experience represents the final requirement for the Undergraduate Economics Honors Program. This experience involves three elements:

  1. Completion with a grade of B+ or higher of the Senior Honors Workshop (ECON 43962)  in the fall semester of the senior year. These credits can be counted as economics electives toward the major and can be used to satisfy the major’s writing intensive requirement.
  2. Completion with a grade B+ or higher of the Senior Honors Thesis (ECON 48600)  in the spring semester of the senior year under the direction or co-direction of an economics faculty member. These credits can be counted as economics electives toward the major and can be used to satisfy the major’s writing intensive requirement.
  3. Participation in all College of Arts and Letters events for departmental honors students.

Applications are due at the end of the spring semester of the junior year and can be submitted through the department’s website to the Director of Undergraduate Studies.

Concentration in Financial Economics and Econometrics

The Department of Economics also offers a concentration in Financial Economics and Econometrics. This selective program fills a need for additional training in applied quantitative economic reasoning. The coursework for the concentration will provide a fast-paced and rigorous training in financial economics that will prepare students for careers in investment management, banking, research, and policy-making.

Admission to the concentration is selective, and Economics and International Economics majors may apply. Applications for admission to the concentration should be submitted to the Economics Department by March 1 of a student’s sophomore year. The department will evaluate all applicants and will make admission decisions by March 15. Admission decisions will be based on factors including overall GPA, performance in prior economics courses, and mathematical background. Students should have completed Intermediate Microeconomic Theory (ECON 30010) by the end of their sophomore year.

Students pursuing this concentration will be required to fulfill the core requirements of the Economics major, along with the additional requirement of the five classes—three core classes and two electives. These classes jointly satisfy the electives requirements within the Economics major.

Core Classes

All students must take the following three courses:

Financial Economics (ECON 40354)
Asset Pricing Theory (ECON 40356)
Financial Econometrics (ECON 40357)

Upper Level Electives

All students are required to take two financial economics electives approved by the Director of Undergraduate Studies.

The concentration offers additional out-of-classroom enrichment opportunities, such as presentations by outside researchers and practitioners. These opportunities complement the coursework by offering insights into the world of finance and policymaking, and will be natural opportunities for networking and career advancement.

Concentration in Evidence-Based Poverty Alleviation

The Department of Economics also offers a concentration in Evidence-Based Poverty Alleviation (EBPAC).

The EBPAC provides students the opportunity to learn about poverty and antipoverty policy through the lens of economics. This concentration is offered by the Economics department in conjunction with the Wilson Sheehan Lab for Economic Opportunities (LEO) and the Poverty Research Fellows program. Students in the concentration will be exposed to current research on poverty as it relates to housing, education, health, criminal justice, and economic mobility. They will also learn statistical methods for causal inference that economists use to evaluate anti-poverty policies. This concentration prepares students for careers in economic research, public policy, and governmental and non-governmental organizations.

Admission to the concentration is selective. Economics majors may apply in the fall of their sophomore year and begin coursework in the spring of their sophomore year. Applications for admission to the concentration should be submitted by Oct. 31 of a student’s sophomore year. The department will evaluate all applicants and will make admission decisions by Nov. 15. Admission decisions will be based on factors including overall GPA, performance in prior economics courses, and mathematical background. Strong candidates will show a commitment to contributing to the common good and the desire to work in an anti-poverty related field. Students pursuing this concentration will be required to fulfill the core requirements of the Economics major, along with the additional requirement of the five classes—two core classes and three electives. These classes jointly satisfy the electives requirements.

Core Classes

All students must take the following two courses:

The Economics of Poverty (ECON 30500)
Causal Inference for Poverty Alleviation (ECON 40500)

Upper level electives

All students are required to take three economics electives with the EBPA attribute.

The concentration offers additional out-of-classroom enrichment opportunities: on campus with outside speakers such as researchers and practitioners who work on topics related to poverty and anti-poverty policy, as well as off campus with opportunities to travel to DC or provider sites over fall or spring break.