Economics and Mathematics (BS)

The formal joint major in Economics and Mathematics is offered with the Department of Mathematics and is administered by the Department of Economics. This specialization has arisen because of the increased role of mathematics and statistics in economic analysis. Also, for students with good mathematical aptitude who do not wish to specialize only in mathematics, the joint major in Economics and Mathematics provides the opportunity to develop a field of applied mathematics.

Learning Objectives:

1. To understand the basic concepts and techniques in core content areas of mathematics and statistics, and to comprehend and articulate economic concepts.

2. To acquire knowledge of economic concepts, institutions, theories, models, and methodologies including econometrics, and to demonstrate competency in applying this information to analyze economics events and to evaluate alternative economic policy initiatives.

3. Ability to use the knowledge of mathematics, statistics and economics to build theoretically sound economic models, choose relevant data, use appropriate modeling tools and software, and critically interpret the results.

4. Ability to communicate mathematical and economic ideas clearly and precisely.

5. Ability to independently read and learn economic issues expressed and analyzed through mathematical models and techniques.

6. To develop and demonstrate the critical thinking skill of comprehending the logical construction of theories and, on that basis, comparing competing explanations and policy implications.

Program Requirements:

ECON 100 Principles of Microeconomics and ECON 101 Principles of Macroeconomics are basic to all other work in Economics and should be taken no later than the second year by students considering the joint major.

The following courses are also required:

 ECON 200 Intermediate Microeconomics 4 ECON 201 Intermediate Macroeconomics 4 ECON 393 Econometrics 4 MATH 211 Linear Algebra 4 MATH 220 Multivariable Calculus 4 MATH 338 Probability 4 MATH 339 Statistical Theory 4 STAT 118 Introductory Statistics 4 OR MATH 227 Statistical Design and Analysis 4

In addition, the joint major requires either (1) three economics electives or (2) two economics electives plus MATH 320 Introduction to Real Analysis. In either case, two of the economics electives must be at the 200 level or higher. In addition, joint majors must complete the all-College capstone requirement in either economics or mathematics.  Note: ECON 393 is a required course for the joint major and therefore cannot count toward the capstone requirement.

The Capstone requirement for this major is satisfied by

 ECON 370 Internship Variable