IUPUI IUPUI IUPUI

 

IUPUI Bulletins » Schools » liberal-arts » Undergraduate » Bachelor's Degree Programs » Economics

Undergraduate

Bachelor's Degree Programs
Economics

Major in Economics

Economics is the study of the ways in which people attempt to satisfy their material needs and desires.  It studies how people decide whether or how much to work in the marketplace or at home, and how consumers and businesses decide whether or how much to spend, save, produce or invest.  It explains how markets coordinate the activities of many diverse buyers and sellers, and it explores circumstances that make it difficult for markets to function effectively without government or nonprofit-sector intervention.  A major in economics supports the liberal arts traditions of promoting students' ability to think critically and helping them develop a better understanding of the world around them. 

Students completing the Economics B.A. program will achieve the following: 

Know:

  • a wide variety of economic issues, be able to determine when an issue is or is not essentially economic, and be able to distinguish between the positive and normative aspects of economic issues.
  • the mathematical and statistical techniques that are widely used in economic analysis. 

Understand:

  • the complementary roles of the private sector and the government in the U.S. economy, and develop some familiarity with the similarities and differences in the role of the government in other world economies;
  • the relationships between world economies in the areas of trade, finance, and information exchange, and will be familiar with the potential benefits and costs of these relationships; and
  • how economic theory and models can be used to help study economic phenomena, and be able to use economic theory to help interpret and address many economic and social issues. 

Be able to:

  • understand and interpret economic data, and statistics based on economic data, when presented in a variety of forms.

The Bachelor of Arts degree with a major in Economics (ECON) requires satisfactory completion of the following:

  • A minimum of 120 credit hours is required for a B.A. degree from the IU School of Liberal Arts.
  • A minimum cumulative grade point average of 2.0 (C) is required for graduation.
  • A minimum of 26 credit hours must be completed after formal admission to IUPUI.
  • A minimum of 21 credit hours of major coursework must be completed in residence in the IU School of Liberal Arts at IUPUI. Course work completed on an IU-administered or IU co-sponsored Overseas Study program counts as residential credit.
  • A minimum grade of C (2.0) is required in each major course.
  • Once a course has been applied toward one requirement, it cannot be used to satisfy a second requirement, except where explicitly stated otherwise. In addition, except in cases of variable title courses, internships, and other special courses, no course will be counted more than once toward graduation.
  • Choice of the General Track (33 major credits) or the Quantitative Track (32 major credits).
  • ECON-E 406 must be taken at IUPUI.

IUPUI General Education Core

A list of accepted courses in the IUPUI General Education Core can be found at http://go.iupui.edu/gened.

Core Communication (6 credits)

  • ENG-W 131: Reading, Writing, and Inquiry I (3 credits) or ENG-W 140: Reading, Writing, and Inquiry: Honors (3 credits) completed with a grade of C (2.0) or higher

English for Academic Purposes (EAP) sections of ENG-G 131 have been designated for students whose first language is not English.

  • COMM-R 110: Fundamentals of Speech Communication (3 credits)

Analytical Reasoning (6 credits)

  • College math from List A (3 credits)
  • List A or List B (3 credits)

Cultural Understanding (3 credits)

  • A world language course is recommended

Life and Physical Sciences (6 credits)

  • A laboratory science component is required

Arts/Humanities and Social Sciences (9 credits)

  • Arts & Humanities (3 credits)
  • Social Science (3 credits)
  • Additional Arts & Humanities or Social Science (3 credits)

Transfer students entering IUPUI from another public university in Indiana who have completed the transferable general education core at their home campus will not need to complete the IUPUI General Education Core.

Liberal Arts Baccalaureate Competencies

First-Year Experience (1-3 credits)

  • SLA-S 100: First Year Success Seminar
  • Other: First Year Seminar from another school at IUPUI

Transfer students with 18 or more credit hours are not required to take this course.

Writing Proficiency (3 credits), completed with a grade of C (2.0) or higher, chosen from the following:

  • ENG-W 230: Writing in the Sciences
  • ENG-W 231: Professional Writing Skills
  • ENG-W 270: Argumentative Writing

Transfer students may satisfy the writing proficiency by completing course work equivalent to ENG-W 231, ENG-W 230, ENG-W 270, or GEWR-UN 200 with a grade of C (2.0) or higher at another campus or institution.

Transfer students with 80 or more transfer credits may petition for exemption from the Writing Proficiency requirement.  Petition available in the Miriam Z. Langsam Office of Student Affairs, Cavanaugh Hall room 401.

Analytical Proficiency (3 credits), chosen from the following: 

  • ECON-E 270: Introduction to Statistical Theory in Economics and Business
  • PHIL-P 208: Causality and Evidence
  • PHIL-P 265: Introduction to Symbolic Logic
  • PHIL-P 365: Intermediate Symbolic Logic
  • POLS-Y 205: Analyzing Politics  
  • SOC-R 359: Introduction to Sociological Stats

Analytical Proficiency is in addition to the Analytical Reasoning area in the IUPUI General Education Core. Analytical Proficiency courses may be shared with major requirements if applicable.

Life and Physical Sciences Laboratory

One laboratory science course is required, but may be part of the coursework taken in the IUPUI General Education Core.

Arts and Humanities (3 credits) - Courses in one’s first major field of study cannot be used to fulfill this requirement

100 or 200 level course chosen from the following disciplines

  • Africana Studies (AFRO)
  • American Studies (AMST)
  • American Sign Language (ASL) excluding World Languages courses
  • Classics (CLAS) excluding World Languages courses
  • Communication Studies (COMM-R, excluding COMM-R 110, and COMM-T only)
  • East Asian Languages and Cultures (EALC) excluding World Language courses
  • English-Creative Writing or Writing and Literacy (ENG-W), excluding courses in the Writing Proficiency area.
  • English Literature (ENG-L)
  • Film Studies (FILM)
  • Folklore (FOLK) excluding FOLK-F 101
  • German (GER) excluding World Language courses
  • History (HIST) excluding HIST-H 105, HIST-H 106, HIST-H 108, HIST-H 109, HIST-H 113, HIST-H 114
  • Latino Studies (LATS)
  • Medical Humanities and Health Studies (MHHS)
  • Museum Studies (MSTD)
  • Native American and Indigenous Studies (NAIS)
  • Philosophy (PHIL)
  • Religious Studies (REL)
  • Spanish (SPAN) excluding World Language courses
  • Women’s, Gender and Sexuality Studies (WOST) excluding WOST-W 105
  • World Languages and Cultures (WLAC)

Social Sciences (3 credits) - Courses in one’s first major field of study cannot be used to fulfill this requirement

100 or 200 level course chosen from the following disciplines

  • Africana Studies (AFRO)
  • Anthropology (ANTH)
  • Communication Studies (COMM-C and COMM-M only)
  • English-Linguistics (ENG-Z)
  • Folklore (FOLK)
  • Geography (GEOG)
  • Global and International Studies (INTL)
  • History (HIST) only HIST-H 105, HIST-H 106, HIST-H 108, HIST-H 109, HIST-H 113, HIST-H 114
  • Journalism and Public Relations (JOUR)
  • Latino Studies (LATS)
  • Medical Humanities and Health Studies (MHHS) excluding MHHS-M 201
  • Native American and Indigenous Studies (NAIS)
  • Political Science (POLS)
  • Psychology (PSY)
  • Sociology (SOC)
  • Women’s, Gender, and Sexuality Studies (WOST)

World Language and Perspectives (0-14 credits) - This requirement may be satisfied in one of the following ways:

  1. Completion of second-year proficiency in a single world language.
    1. Second-year proficiency is demonstrated by:
      1. passing the full second-year sequence of courses in a single language or
      2. completing a third or fourth-year course1
  2. Completion of third-semester proficiency in a single world language and one course in History selected from HIST-H 108, HIST-H 109, HIST-H 113, or HIST-H 114.
  3. Completion of first-year proficiency in a single world language; one history course selected from HIST-H 108, HIST-H 109, HIST-H 113, or HIST-H 114; and one course selected from the Global History and Perspectives list:
    1. ANTH-A 104, Intro to Cultural Anthropology
    2. CLAS-C 213, Sport and Competition in the Ancient World
    3. EALC-E 232, China Past and Present: Culture in Continuing Evolution
    4. ENG-L 245, (The Empire Writes Back) Intro to Caribbean Literature
    5. GEOG-G 130, World Geography
    6. HIST-H 108, Perspectives on the World to 1800
    7. HIST-H 109, Perspectives on the World since 1800
    8. HIST-H 113, History of Western Civilization I 
    9. HIST-H 114, History of Western Civilization II
    10. INTL-I 100, Intro to International Studies
    11. LATS-L 228, An Interdisciplinary Look at U.S. Latino/a Identities
    12. POLS-Y 217, Introduction to Comparative Politics 
    13. POLS-Y 219, Introduction to International Relations
    14. REL-R 212, Comparative Religions
  4. Non-English native speaker with approved waiver.

Courses in World Language and Perspectives may also satisfy General Education Core Cultural Understanding. 

         1 Students interested in receiving credit for lower-division language courses, see the section ‘‘Special Credit for Foreign Language Study.’’

Advanced Courses

Students are required to have 42 credit hours in 300-400 level coursework including courses in their major. Of the 42 advanced credits, 9 credit hours must be 300-400 level coursework outside the first Liberal Arts major field of study and from the School of Liberal Arts. Students seeking dual degrees are exempt from completing 9 credits hours in 300-400 level coursework outside their major and from the School of Liberal Arts.

 

Economics Major Requirements (32-33 credits)

  • ECON-E 201: Introduction to Microeconomics (3 credits)
  • ECON-E 202: Introduction to Macroeconomics (3 credits) 
  • ECON-E 270: Introduction to Statistical Theory in Economics (3 credits)
  • ECON-E 321: Intermediate Microeconomic Theory (3 credits) (Prerequisite for this course is E 201.)
  • ECON-E 322: Intermediate Macroeconomic Theory (3 credits) (Prerequisite for this course is E 202.)
  • ECON-E 406: Senior Seminar (3 credits) (Prerequisites for this course are E 321 and E 322.)
  • MATH-M 118: Finite Mathematics (3 credits)
  • MATH-M 119: Brief Survey of Calculus 1 (3 credits)
  • Nine (9) Credits of Economics electives from the following:
    • ECON-E 303: Introduction to International Economics
    • ECON-E 304: Introduction to Labor Economics
    • ECON-E 305: Money and Banking
    • ECON-E 307: Current Economic Issues
    • ECON-E 327: Game Theory
    • ECON-E 337: Economic Development
    • ECON-E 375: Mathematical Economics
    • ECON-E 387: Health Economics
    • ECON-E 408: Undergraduate Readings in Economics – Arranged
    • ECON-E 410: Selected Topics in U.S. Economic History
    • ECON-E 450: Business Conditions Analysis and Forecasting

With the exception of ECON-E 406, these classes should be completed by the end of the junior year.

 

The Bachelor of Science degree with a major in Quantitative Economics (ECON) requires satisfactory completion of the following: 

  • A minimum of 120 credit hours is required for a B.S. degree from the IU School of Liberal Arts. 
  • A minimum cumulative grade point average of 2.0 (C) is required for graduation. 
  • A minimum of 26 credit hours must be completed after formal admission to IUPUI. 
  • A minimum of 21 credit hours of major coursework must be completed in residence in the IU School of Liberal Arts at IUPUI. Course work completed on an IU-administered or IU co-sponsored Overseas Study program counts as residential credit. 
  • A minimum grade of C (2.0) is required in each major course. 
  • Once a course has been applied toward one requirement, it cannot be used to satisfy a second requirement, except where explicitly stated otherwise. In addition, except in cases of variable title courses, internships, and other special courses, no course will be counted more than once toward graduation. 
  • ECON-E 406 must be taken at IUPUI. 

IUPUI General Education Core 

A list of accepted courses in the IUPUI General Education Core can be found at http://go.iupui.edu/gened. 

Core Communication (6 credits) 

  • ENG-W 131: Reading, Writing, and Inquiry I (3 credits) or ENG-W 140: Reading, Writing, and Inquiry: Honors (3 credits) completed with a grade of C (2.0) or higher 

English for Academic Purposes (EAP) sections of ENG-G 131 have been designated for students whose first language is not English. 

  • COMM-R 110: Fundamentals of Speech Communication (3 credits) 

Analytical Reasoning (6 credits) 

  • College math from List A (3 credits) 
  • List A or List B (3 credits) 

Cultural Understanding (3 credits) 

  • A world language course is recommended 

Life and Physical Sciences (6 credits) 

  • A laboratory science component is required 

Arts/Humanities and Social Sciences (9 credits) 

  • Arts & Humanities (3 credits) 
  • Social Science (3 credits) 
  • Additional Arts & Humanities or Social Science (3 credits) 

Transfer students entering IUPUI from another public university in Indiana who have completed the transferable general education core at their home campus will not need to complete the IUPUI General Education Core. 

Liberal Arts Baccalaureate Competencies 

First-Year Experience (1-3 credits) 

  • SLA-S 100: First-Year Success Seminar 
  • Other: First-Year Seminar from another school at IUPUI 

Transfer students with 18 or more credit hours are not required to take this course. 

Writing Proficiency (3 credits), completed with a grade of C (2.0) or higher, chosen from the following: 

  • ENG-W 230: Writing in the Sciences 
  • ENG-W 231: Professional Writing Skills 
  • ENG-W 270: Argumentative Writing 

Transfer students may satisfy the writing proficiency by completing course work equivalent to ENG-W 231, ENG-W 230, ENG-W 270, or GEWR-UN 200 with a grade of C (2.0) or higher at another campus or institution. 

Transfer students with 80 or more transfer credits may petition for exemption from the Writing Proficiency requirement.  Petition available in the Miriam Z. Langsam Office of Student Affairs, Cavanaugh Hall room 401. 

Computer Proficiency (0-3 credits) 

Computer science and computer technology courses intended to develop the student’s problem-solving ability and promote the understanding and use of logical structures of thought. Computer courses must focus on programming or data manipulation. Below is a list of accepted courses (see advisor if you have questions about a course not on this list): 

  • BUS-K 201: Computers in Business 
  • CSCI 23000: Computing I^ (pre-requisite or co-requisite: MATH 15300) 
  • CSCI-N 200: Principles of Computer Science^ 
  • CSCI-N 201: Programming Concepts^ 
  • CSCI-N 207: Data Analysis Using Spreadsheets^ 
  • CSCI-N 211: Introduction to Databases^ 
  • ENGR 19700: Introduction to Programming^ 
  • INFO-I 101: Introduction to Informatics^ 
  • INFO-I 210: Information Infrastructure^ 
  • SPEA-V 261: Computers in Public Affairs 

Note: courses with ^ listed by them may be shared with the IUPUI General Education Core Analytical Reasoning List B requirement. 

Life and Physical Sciences Laboratory 

One laboratory science course is required and may be part of the coursework taken in the IUPUI General Education Core. 

Arts and Humanities (3 credits) - Courses in one’s first major field of study cannot be used to fulfill this requirement 

100 or 200 level course chosen from the following disciplines 

  • Africana Studies (AFRO) 
  • American Studies (AMST) 
  • American Sign Language (ASL) excluding World Languages courses 
  • Classics (CLAS) excluding World Languages courses 
  • Communication Studies (COMM-R, excluding COMM-R 110, and COMM-T only) 
  • East Asian Languages and Cultures (EALC) excluding World Language courses 
  • English-Creative Writing or Writing and Literacy (ENG-W), excluding courses in the Writing Proficiency area. 
  • English Literature (ENG-L) 
  • Film Studies (FILM) 
  • Folklore (FOLK) excluding FOLK-F 101 
  • German (GER) excluding World Language courses 
  • History (HIST) excluding HIST-H 105, HIST-H 106, HIST-H 108, HIST-H 109, HIST-H 113, HIST-H 114 
  • Latino Studies (LATS) 
  • Medical Humanities and Health Studies (MHHS) 
  • Museum Studies (MSTD) 
  • Native American and Indigenous Studies (NAIS) 
  • Philosophy (PHIL) 
  • Religious Studies (REL) 
  • Spanish (SPAN) excluding World Language courses 
  • Women’s, Gender and Sexuality Studies (WOST) excluding WOST-W 105 
  • World Languages and Cultures (WLAC) 

Social Sciences (3 credits) - Courses in one’s first major field of study cannot be used to fulfill this requirement 

100 or 200 level course chosen from the following disciplines 

  • Africana Studies (AFRO) 
  • Anthropology (ANTH) 
  • Communication Studies (COMM-C and COMM-M only) 
  • English-Linguistics (ENG-Z) 
  • Folklore (FOLK) 
  • Geography (GEOG) 
  • Global and International Studies (INTL) 
  • History (HIST) only HIST-H 105, HIST-H 106, HIST-H 108, HIST-H 109, HIST-H 113, HIST-H 114 
  • Journalism and Public Relations (JOUR) 
  • Latino Studies (LATS) 
  • Medical Humanities and Health Studies (MHHS) excluding MHHS-M 201 
  • Native American and Indigenous Studies (NAIS) 
  • Political Science (POLS) 
  • Psychology (PSY) 
  • Sociology (SOC) 
  • Women’s, Gender, and Sexuality Studies (WOST) 

International Dimension (6-8 credits) 

Cannot be shared with the General Education Core or the Economics Major 

  • AFRO-A 152: Introduction to African Studies 
  • AFRO-A 303: African Diaspora Studies 
  • ANTH-A 104: Cultural Anthropology 
  • CLAS-C 101: Ancient Greek Culture 
  • CLAS-C 102: Roman Culture 
  • CLAS-C 209: Med Terms in Greek & Latin 
  • ECON-E 303: International Economics 
  • JOUR-J 414: International Newsgathering 
  • ENG-L 245: Caribbean Literature 
  • ENG-L 301: English Literature Survey I 
  • ENG-L 302: English Literature Survey II 
  • ENG-L 348: 19th Century British Literature 
  • GEOG-G 110: Human Geography 
  • GEOG-G 130: World Geography 
  • HIST-H 108: Perspectives on World to 1800 
  • HIST-H 109: Perspectives on World 1800 to present 
  • HIST-H 113: Western Civilization I 
  • HIST-H 114: Western Civilization II 
  • HIST-H 227: African Civilizations 
  • INTL-I 100: Introduction to International Studies 
  • INTL-I 300: Topics in International Studies 
  • PHIL-P 307: Classical Philosophy 
  • PHIL-P 314: Modern Philosophy 
  • PHIL-P 334: Buddhist Philosophy 
  • PHIL-P 349: Philosophies of China 
  • POLS-Y 217: Comparative Politics 
  • POLS-Y 219: Introduction to International Relations 
  • REL-R 212: Comparative Religions 
  • REL-R 257: Introduction to Islam 
  • WLAC (any course offered by World Languages and Cultures, excluding American Sign Language and English Interpreting courses) 

Additional courses may be accepted with approval from Associate Dean of Students. 

Computer Science, Life & Physical Science, or Math (6-8 credits) 

Cannot be shared with the General Education Core or with the Economics Major 

  • All courses on the Analytical Reasoning and Life & Physical Science IUPUI General Education Core list are accepted 
  • Anthropology (ANTH-B 426, 468, 474) 
  • Biology (BIOL) 
  • Chemistry (CHEM) 
  • Computer Science (CSCI-N 200 or higher & CSCI 23000 or higher) 
  • Economics (ECON-E 375)  
  • Forensic and Investigation Science (FIS) 
  • Geography (GEOG-G 336, 337, 338, 436, 438, 439, 488) 
  • Geology (GEOL) 
  • Informatics (INFO-I 101) 
  • Kinesiology (KINE-P 391 and 409) 
  • Math (MATH-M 118 or higher) 
  • Physics (PHYS) 
  • Public Health (PBHL-B 300, 385, 430, 481; PBHL-E 322) 
  • Psychology (PSY-B 301, 320, 398) 

Advanced Courses 

Students are required to have 40 credit hours in 300-400 level coursework including courses in their major. 

Major Requirements (32 credits)

  • MATH 16500: Analytic Geometry and Calculus I 
  • MATH 16600: Analytic Geometry and Calculus II 
  • ECON-E 201: Introduction to Microeconomics
  • ECON-E 202: Introduction to Macroeconomics
  • ECON-E 270: Introduction to Statistical Theory in Economics
  • ECON-E 321: Intermediate Microeconomic Theory
  • ECON-E 322: Intermediate Macroeconomic Theory
  • ECON-E 375: Introduction to Mathematical Economics
  • ECON-E 470: Introduction to Econometrics 
  • Economics Elective (3 credits)  

BA/MS in Applied Economics

The Economics Department offers a five-year Dual B.A./M.S. program.  This program gives undergraduate economics majors the opportunity to add a graduate (Master of Science) degree to their undergraduate (Bachelor of Arts) degree with only one additional year of study. 

Program Requirements 

Students in the dual program complete the 30 hours of coursework required by our current MS in Applied Economics, with one exception.  Students in the M.S. program take both E582, our second course in Applied Macroeconomics, and E583, our course in Applied Macroeconomics.  However, B.A./M.S. students can substitute E406, our undergraduate capstone course, for either E582 or E583. 

As with other five-year undergrad/master’s degree programs on our campus, there are four courses                 (12 credits) that overlap and count for both the B.A. and the M.S.  These  courses are E406 (our capstone course: see above), E504 (Mathematics for Economists), E570 (Econometrics), and either E582 or E583 (see above).  E504 is an advanced substitute for the undergraduate course E375, and E570 is an advanced substitute for the undergraduate course E470.  E582 and E583 also are advanced substitutes for undergraduate courses (E304 or E385 and E410, respectively).  These four courses all are taken in the student’s senior year.  Thus, if an economics major decides not to complete the MS then s/he will be taking no “extra” courses: all four courses will count toward her/his BA degree. 

Admission Requirements 

The requirements for admission to the the B.A./M.S. program are the same as the requirements for admission to the M.S. program, with two exceptions: a completed B.A. degree is not required, and GRE scores are not required.  Admissions will be based primarily on [1] performance in the core economics undergraduate economics courses (E201, E202, E270, E321, E322), [2] performance in Math 16500 (Calculus I) and [3] three letters of recommendation from instructors in the above undergraduate courses. 

Course Requirements 

The course schedule for the dual program is as follows: 

5 Year B.A./M.S. 

First Year/Senior Year 

Fall                                                                  Spring 

ECON-E 504: (Mathematics for Economists)        ECON-E 406 Senior Seminar

ECON-E 570: (Econometrics)                             ECON-E 582 Applied Microeconomics  OR

                                                                           ECON-E 583 Applied Macroeconomics    

Second Year 

Fall                                                                  Spring 

ECON E-581 Applied Microeconomics                  ECON-E 521: Microeconomic Theory      

                                                                       ECON-E 522: Macroeconomic theory      

STAT 51600: Probability                                     STAT 517: Statistics 

Open electives

Candidates for a degree in the IU School of Liberal Arts must complete the IUPUI General Education Core requirements, the baccalaureate competencies, and the requirements of their major department. Usually, students will still need to complete additional hours in order to reach the graduation requirement of 120 credit hours. These remaining credit hours are known as open electives. 

Dual Degree Advantage

The Liberal Arts baccalaureate competencies are waived for undergraduate students whose first major is outside the School of Liberal Arts and whose second major is a Bachelor of Arts degree from the IU School of Liberal Arts at IUPUI. Students are only required to complete the courses in their major of choice in Liberal Arts. The IUPUI General Education Core or the Indiana transferable general education core must be successfully completed. Students must complete the degree outside Liberal Arts in order to have the Liberal Arts baccalaureate competencies waived for degree completion. The Liberal Arts baccalaureate competencies are only waived for students who actively pursue and complete another degree program outside of Liberal Arts. Both degrees must be completed at the same time.