The Economics Department offers three majors: Economics (ECON), Mathematical Economic Analysis (MTEC), and Managerial Economics and Organizational Sciences (MEOS). Students can major in only one of these three options. Students in all three majors examine the fundamental questions of economics, including (1) the roles of both private markets and the public sector in allocating scarce resources, (2) the ways that consumers and businesses make a wide variety of economic decisions that affect supply and demand in those markets (microeconomics), (3) how those decisions are aggregated to determine economic outcomes such economic growth, unemployment, business cycles, and income distribution at both the national and international levels (macroeconomics), and (4) the use of statistical and mathematical techniques to determine the relative magnitudes of the multitude of effects that determine these economic outcomes (econometrics). Students in all three majors also have the opportunity to apply this knowledge by studying a wide variety of specialized topics within economics, ranging from health, energy, labor, education, development, environmental, and financial economics to game theory, industrial organization, international trade and finance, public finance, and law and economics. All three majors, especially ECON and MTEC, require considerable mathematical and statistical skill, as modern economics is a rigorous analytical discipline that focuses on constructing and testing mathematical models of economic behavior.
Note that students have considerable flexibility in choosing among our three majors as they have many common elements. In particular, the core courses for all three majors include ECON 100, ECON 200, MATH 101, MATH 102, STAT 310/311/315, and there are many ECON electives that are common to all three majors.
Major in Economics
The ECON major is a 14-course program, comparable to the liberal arts majors offered in many universities, which requires several basic courses in mathematics and statistics, a set of core courses in economics, and offers a wide variety of electives. For details, see Degree Requirements for a Major in Economics. The ECON major provides excellent training in the fundamentals of economics and helps to prepare students to enter any profession. Graduates of our ECON program pursue a wide variety of career paths. Some employ the skills and methods learned in our program in various professional schools, especially law, medical, and business schools. Others choose careers in finance, banking, the energy sector, other private industries, federal, state, and local governments, and the non-profit sector.
Major in Mathematical Economics Analysis
The MTEC major is a specialized 16-course program that includes most of the courses required for our regular (ECON) major, but also requires additional preparation in mathematics and statistics, several relatively technical economics electives, and a capstone attend a relatively technical professional program, course. For details, see Degree Requirements for a Major in Mathematical Economic Analysis. The MTEC major is a mathematically-intensive course of study recommended for students who intend to pursue graduate work in economics or plan to obtain a position in business or government that requires extensive analytical and quantitative skills.
Major in Managerial Economics and Organizational Sciences
The MEOS major is a specialized 15-course interdisciplinary major that is based in the Economics Department. It includes (1) core courses in economics, psychology, mathematics, and statistics, (2) a wide range of electives in the same areas as well as in operations research, sociology, political science, and quantitative and qualitative research methods, (3) a consulting or finance practicum, and (4) a capstone management consulting course. For details, see Degree Requirements for a Major in Managerial Economics and Organizational Sciences. The MEOS major is designed to provide students with an understanding of the tools employed by business managers (e.g., finance, accounting, human resources) coupled with an understanding of the underlying social science that describes the broader environment in which businesses and other organizations operate (interactions with markets, policy-makers, regulators, and society). The MEOS major is well suited to students who want to pursue a career in business or attend business school.
Please Note: (1) Students can graduate under the requirements for the year they matriculate or for the year they graduate. The default setting in the student information system is the requirements for the year of matriculation. Students who would like to change to the requirements in the year of graduation should notify the Registrar’s Office, either in person or with an email to firstname.lastname@example.org. (2) Students can take courses subject to the prerequisites listed in the General Announcements in their year of matriculation.