BA in Economics
The department offers two majors in Economics: a BA in Economics and a BA/BS in Quantitative Economics. Both majors carry STEM certification and include courses in mathematics, principles of economics, intermediate microeconomic theory, intermediate macroeconomic theory, and statistics. However, the BA in Economics is somewhat less structured and allows more flexibility in the choice of courses.
Majors will learn to use fundamental economics concepts - such as scarcity, incentives, trade-offs, opportunity costs, comparative advantage, price system, efficient allocation of resources, market failures, government failures, and scope of fiscal, monetary, and regulatory policies. Through their course work, majors will apply economic theory to a range of economic issues across a variety of fields and economics sub-disciplines and will develop the ability to effectively communicate their analysis.
Program Requirements and Policies
- 10 courses are required for the BA in Economics.
- It is recommended that students begin taking the principles course and required mathematics courses during their first year, and begin taking the core economic theory courses during their second year. Once the principles and core prerequisites have been met, a wide range of elective courses is available.
- All courses for the major must be taken for a letter grade. A minimum grade of C- is required for all mathematics, core, and elective courses used to satisfy major requirements.
Economics 5: Principles of Economics or Economics 8: Principles of Economics with Environmental Applications or equivalent course.
Mathematics 32 or any higher-level mathematics course approved by the department. Students can waive all or part of this requirement by showing adequate prior preparation as determined by the Departments of Economics or Mathematics (for example, through Advanced Placement tests).
Majors graduating in the classes of 2019 and 2020 only may substitute Mathematics 30 and one other course with appropriate math content for Mathematics 32, provided the second course is approved by the department. Students who make this substitution (which is generally not advised) must still take the four core and five elective courses described below. Students pursuing this option should also recognize that, for purposes of determining the number of courses that can overlap between the economics concentration and the second concentration, the Economics concentration requires ten courses.
- Economics 11: Intermediate Microeconomic Theory
- Intermediate Macroeconomic Theory (Economics 12, or Economics 18)
- Statistics (Economics 13, or Economics 201, or Mathematics 162, or Engineering Science 56, or Electrical Engineering 24, or Electrical Engineering 104)
- Basic Econometrics (Economics 15, or Economics 107, or Economics 202)
Note: All 100-level economics electives have one or more of these courses as prerequisites. The mathematically-oriented student is advised to take Economics 16, 18, and 107 instead of Economics 12 and 15, and pursue the BA/BS in Quantitative Economics.
Majors must complete ﬁve upper-level economics elective courses (numbered Economics 20 or above). At least three of the ﬁve courses must be at the 100 level or above.
In addition, at least one of the electives must be one upper level seminar class. Seminars are small classes that place an emphasis on class interactions, the writing of papers, and the reading of journal articles. Seminars provide alternative ways to have "hands-on" research experience. Courses that satisfy the seminar requirement are listed with an ampersand (&) in the department's Course Listing. Please note that many seminars have prerequisite requirements of at least one of the core courses, so they are typically taken during the junior or senior year.