Economics Department Major and Minor Requirements

An economics student will be equipped with the necessary analytical tools to understand contemporary economic issues and to take reasoned positions in debates about economic and social policy. She will be in a position to apply these tools in a multitude of areas in her future career. Many of the world's most pressing problems --- unemployment, inflation, poverty, inequality, discrimination, underdevelopment, environmental destruction --- are economic in nature. Economics is concerned with the study of the causes and the possible solutions to these and other economic problems. Macroeconomics is concerned with the economy as a whole, with the forces behind economic growth, the problems occurring in the growth process (especially unemployment and inflation), and government policies to address these problems. Microeconomics focuses on the efficient allocation of scarce resources among alternative uses and addresses such questions as how individuals and societies decide what to produce, how to produce, and how to distribute the output. Economists study these important problems by combining theoretical models and data analysis. The great human interest of the subject, together with the rigor of its analysis, gives the study of economics its stimulating quality.
The Major An economics major requires a minimum of 32 credits in the department beyond the 100-level. Required for the major are three 200-level core courses: Macroeconomic Theory (211), Microeconomic Theory (212), Introductory Econometrics (220); three 300-level seminars (two of which must be taken at Mount Holyoke); and 8 additional credits to be taken at either the 200 or 300 level.	Majors are encouraged to undertake independent study and research projects under faculty supervision (395fs) in their senior year and to prepare for this research by taking the Junior Research Seminar (390s) in the spring of their junior year. Students considering a major in economics are urged to consult faculty members in the department as early as possible.
Students typically begin their study of economics with Introductory Microeconomics (103) and Introductory Macroeconomics (104). These courses are the prerequisites for the required intermediate courses. (For students who declared their major prior to fall 1999, the major requires 36 credits, including 103 and 104.)	Special major in Mathematics/Economics The economics and math deparments have developed a special major in mathematics and economics. The link above provides a detailed description of the requirements.
The objective of the core courses is to examine intensively the theoretical tools used in professional economic research. One or more of the core courses is required for each 300-level course in the department. At the intermediate level, a student can choose among a wide array of courses that apply economic theory to particular areas, drawing and building on the concepts and analytical tools developed in the introductory courses. Most 300-level courses are applied courses as well, but the level of analytical sophistication is higher, and students are expected to write substantial analytical research papers. The applied areas offered in the department cover a wide range of subjects, including economic development, comparative economic systems, international economics, economics of the G-7, economic history, history of economic thought, labor economics, public finance, money and banking, industrial organization, and human resources.	The Minor Students wishing to set up a minor in economics are encouraged to consult an economics faculty member for advice in planning a coherent minor. A minor includes a total of 16 credits: a) at least 12 credits at the 200-level (or above), and b) a minimum of 4 credits at the 300-level.

Detailed Description of Requirements for the Major

Credits

A minimum of 32 credits in the department beyond the 100 level

Courses

Economics 211, Macroeconomic Theory

Economics 212, Microeconomic Theory

Economics 220, Intro Econometrics, or Economics 320 (Students taking Statistics 140 must take an additional course in the major)

Three 300-level seminars (two of these must be taken at Mount Holyoke)

8 additional credits at either the 200 or 300 level

Students typically begin their study of economics with Introductory Microeconomics (103) and Introductory Microeconomics (104). These courses are the prerequisites for the required intermediate courses.

Other

Majors are encouraged to undertake independent study and research projects under faculty supervision (395fs) in their senior year and to prepare for this research by taking the Junior Research Seminar (390s) in the spring of their junior year.

The objective of the core courses is to examine intensively the theoretical tools used in professional economic research. One or more of the core courses is required for each 300-level course in the department. At the intermediate level, a student can choose from a wide array of courses that apply economic theory to particular areas, drawing and building on the concepts and analytical tools developed in the introductory courses. Most 300-level courses are applied courses as well, but the level of analytical sophistication is higher, and students are expected to write substantial analytical research papers. The applied areas offered in the department cover a wide range of subjects, including international economics, economic development, comparative economic systems, economics of race, money and banking, labor economics, public finance, industrial organization, human resources, economic history, and history of economic thought.

Detailed Description of Requirements for the Minor

Students wishing to set up a minor in economics are encouraged to consult an economics faculty member for advice in planning a coherent minor.

Credits

A minimum of 24 credits

Courses

At least two of the following economics courses:

211, Macroeconomic Theory

212, Microeconomic Theory

220, Intro Econometrics, or Economics 320 (Students taking Statistics 140 must take an additional economics course.

At least 4 credits at the 300 level

Description of Economics Course Levels

Introductory Courses

Students may begin the study of economics with either one of the traditional introductory courses, Introductory Microeconomics (103) or Introductory Macroeconomics (104). The department also offers a variety of "topics" courses at the introductory level. Each "topics" course focuses on the application of the principles of economics to one particular area of interest, e.g., film, great books, the global economy.

Students who are fairly certain that they want to major in economics are encouraged to take the traditional introductory courses. Students should consult the department chair before selecting courses, if they received a 4 or 5 on one or both of the advanced placement exams in economics, took "A-levels," took the International Baccalaureate in economics, or began their study of economics with a topics course. The department offers placement exams for those students who have previously covered introductory micro- and macroeconomics.

200-Level Courses without Prerequisites

These 200-level courses investigate a particular topic in economics at some depth without presupposing prior knowledge of economics. Many students may find one or more of these courses useful complements to majors and minors other than economics. These courses are not open to first-year students as their first course in economics.

200-Level Courses with Prerequisites

The following 200-level courses require one or two introductory economics courses as prerequisites. They include the core theory courses that are required for the major and minor, as well as several applied courses that assume an introductory background in economics.

300-Level Courses

The following seminars have 200-level prerequisites and are intended to provide the student with an extensive and in-depth analysis of a particular subject.

Independent Research

We strongly encourage students to pursue independent research under Economics 295 or 395. These courses, which are offered for a variable number of credits, provide opportunities for many different kinds of independent projects. Both 295 and 395 typically encompass a small research project, perhaps in conjunction with faculty research.

Juniors who may be interested in writing a thesis during their senior year are urged to enroll in Economics 390 in the spring semester of their junior year. Economics 390 is a 2-credit seminar that focuses on research methods in economics. A student works individually on her honors thesis, usually over a two-semester period, by registering for Economics 395 (4 credits in each semester) for a total of 8 credits. Each honors project is supervised by a committee of two faculty members, one of whom serves as the primary adviser.

Students pursuing an honors thesis should also enroll in Economics 391, a 2-credit seminar, in the fall of their senior year. In 391, students present their research at various stages, critique each other's work, and discuss similarities and differences in their analytical processes.

A one-semester 395 project may not be counted toward the three courses required for the major at the 300 level. For a two-semester 395 project, culminating with a thesis, the second semester may count toward this requirement.

This page created and maintained by the Wizard of Oz.