### College Schools, Departments & Programs

#### Economics

##### Purpose

The B.A. Major in Economics provides excellent preparation for graduate and professional school, including law school, and for rewarding careers in consulting, finance, and other private and public sector employment. Specific courses in microeconomic theory, macroeconomic theory, statistics, and mathematical modeling provide students with the tools to analyze and guide the decisions of business firms, consumers, and public–policymakers in a variety of market settings. Elective courses add breadth and depth to students' understanding of the basic tools of economic analysis by focusing on their application within specific subfields.

Economics focuses on providing an understanding of how individuals and societies manage their scarce resources—people must decide how much they work, what they buy, how much they save, and how they use their leisure time. Most societies use decentralized markets as the primary means of allocating resources, so economics gives students insight into how markets function in coordinating the activities of many diverse buyers and sellers. Economics also analyzes the trends and forces that affect the economy as a whole, including growth in average income, the portion of the labor force that cannot find work, and the rate at which prices are rising or falling.

Economics majors have the option of adding up to two (2) concentrations to the major, chosen from Financial and Monetary Economics, International and Development Economics, Economics of the Public Sector and Labor Markets, Strategic Interaction, and Advanced Computation/Econometrics Tools.

##### Requirements
1. Introductory Economics. Complete both:
• ECON-E 201 Introduction to Microeconomics
• ECON-E 202 Introduction to Macroeconomics
2. Mathematics. Complete both:
1. MATH-M 118 Finite Mathematics
2. One of the following:
• MATH-M 119 Brief Survey of Calculus
• MATH-M 211 Calculus I
• MATH-M 213 Accelerated Calculus
3. Intermediate Economic Theory. Complete both:
• ECON-E 321 Intermediate Microeconomic Theory
• ECON-E 322 Intermediate Macroeconomic Theory
4. Statistics.
• ECON-E 370 Statistical Analysis for Business and Economics
5. Econometrics. Complete one (1) course selected from the following:
• ECON-E 371 Introduction to Applied Econometrics
• ECON-E 471 Econometric Theory and Practice I
• Complete one (1) additional course at the 300–400 level, excluding ECON-E 496 and X373
7. Concentration or Additional Advanced Courses. Complete one (1) of the following options, taking all courses in residence on the Bloomington campus:
1. An Economics Concentration (see requirements below)
2. Three (3) courses (beyond those completed for requirements 3–6 above) above ECON-E 322, excluding ECON-E 496 and X373

Students must also complete all degree requirements of the College of Arts and Sciences.

##### Economics Concentrations

Students may elect to complete up to two 9-credit-hour areas of concentration listed below, which they must declare through an Economics academic advisor. Any course in which the student earns a grade below C– may not be used to fulfill a concentration requirement. The grade point average of all courses taken in the concentration must be at least 2.000. Completing an area of concentration becomes part of the official transcript of the student and allows students to develop additional expertise in specific areas of Economics.

Financial and Monetary Economics

Complete three (3) courses selected from the following:

• ECON-E 332 International Monetary Economics
• ECON-E 337 Economic Development
• ECON-E 390 Undergraduate Seminar in Economics ("Computational Methods in Macroeconomics" topic only)
• ECON-E 425 Financial Economics
International and Development Economics

Complete three (3) courses selected from the following:

• ECON-E 332 International Monetary Economics
• ECON-E 337 Economic Development
• ECON-E 386 Soviet-Type Economies in Transition
• ECON-E 390 Undergraduate Seminar in Economics ("Economic Growth" topic only)
Economics of the Public Sector and Labor Markets

Complete three (3) courses selected from the following:

• ECON-E 341 Economics of Labor Markets
• ECON-E 351 Law and Economics
• ECON-E 361 Public Finance: Government Spending
• ECON-E 362 Public Finance: Taxation
Strategic Interaction

Complete three (3) courses selected from the following:

• ECON-E 327 Game Theory
• ECON-E 351 Law and Economics
• ECON-E 385 Economics of Industry
• ECON-E 427 Seminar in Experimental Economics