Twin Cities campus
 
Twin Cities Campus

Economics - Quantitative Emphasis B.A.

Economics
College of Liberal Arts
  • Program Type: Baccalaureate
  • Requirements for this program are current for Spring 2018
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 53
  • Degree: Bachelor of Arts
Economics emphasizes critical thinking and the understanding of basic economic principles. The BA - Quantitative Emphasis adds basic quantitative training (in calculus, linear algebra, and econometrics) and best suits students considering graduate work in business administration. Students choose from courses in comparative economic systems; economic theory; econometrics; economic development; game theory; industrial organization; cost-benefit analysis; environmental, financial, international, mathematical, monetary, public, and labor economics. For more information, visit www.econ.umn.edu.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
Students must complete 4 courses before admission to the program.
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Required prerequisites
Preparatory Coursework
Take the following 4 courses for a total of 16 credits.
ECON 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
ECON 1102 - Principles of Macroeconomics (4.0 cr)
MATH 1271 - Calculus I [MATH] (4.0 cr)
or MATH 1371 - CSE Calculus I [MATH] (4.0 cr)
or MATH 1571H - Honors Calculus I [MATH] (4.0 cr)
MATH 1272 - Calculus II (4.0 cr)
or MATH 1372 - CSE Calculus II (4.0 cr)
or MATH 1572H - Honors Calculus II (4.0 cr)
General Requirements
All students in baccalaureate degree programs are required to complete general University and college requirements including writing and liberal education courses. For more information about University-wide requirements, see the liberal education requirements. Required courses for the major, minor or certificate in which a student receives a D grade (with or without plus or minus) do not count toward the major, minor or certificate (including transfer courses).
Program Requirements
Students are required to complete 4 semester(s) of any second language. with a grade of C-, or better, or S, or demonstrate proficiency in the language(s) as defined by the department or college.
CLA BA degrees require 18 upper-division (3xxx-level or higher) credits outside the major designator. These credits must be taken in designators different from the major designator and cannot include courses that are cross-listed with the major designator. The major designator for the Economics - Quantitative Emphasis BA is ECON. All major coursework must be taken A-F. Up to 3 credits of independent study (ECON 3991) may count toward the major. Supporting work in computer science, mathematics, and statistics is recommended. Only one country/area study course (ECON 3960, 4311, 4317) or DUS-approved study-abroad course may count toward the electives requirement. All study-abroad or transfer courses must be approved by the director of undergraduate studies in the Department of Economics. Students must take at least one writing intensive course in the major, or take ECON 4100W concurrently with ECON 4831, or an honors course. Students must complete at least 12 credits of upper-division coursework (ECON 3xxx-5xxx) in residence at the University of Minnesota - Twin Cities campus. Students may receive no more than one undergraduate degree from the Department of Economics: a BA or a BS or a minor. All incoming CLA freshmen must complete the First-Year Experience course sequence.
Major Requirements
Take 6 of the following courses for a total of 23 credits.
ECON 3101 - Intermediate Microeconomics (4.0 cr)
ECON 3102 - Intermediate Macroeconomics (4.0 cr)
ECON 4211 - Principles of Econometrics (4.0 cr)
MATH 2243 - Linear Algebra and Differential Equations (4.0 cr)
STAT 3021 - Introduction to Probability and Statistics (3.0 cr)
STAT 3022 - Data Analysis (4.0 cr)
or STAT 3032 - Regression and Correlated Data (4.0 cr)
Electives
With prior approval of the Director of Undergraduate Studies, students can take ACCT 5101 as one of the required electives.
Take 4 or more course(s) totaling 12 or more credit(s) from the following:
· ECON 3970 - Topics in Economics (3.0 cr)
· ECON 4331W - Economic Development [WI] (3.0 cr)
· ECON 4337 - Comparative Economic Systems (3.0 cr)
· ECON 4431W - International Trade [GP, WI] (3.0 cr)
· ECON 4432W - International Finance [WI] (3.0 cr)
· ECON 4531 - Labor Economics (3.0 cr)
· ECON 4621 - Urban Economics (3.0 cr)
· ECON 4631 - Industrial Organization and Antitrust Policy (3.0 cr)
· ECON 4721 - Money and Banking (3.0 cr)
· ECON 4731 - Macroeconomic Policy (3.0 cr)
· ECON 4821 - Public Economics (3.0 cr)
· ECON 4831 - Cost-Benefit Analysis (3.0 cr)
· ECON 4751 - Financial Economics (3.0 cr)
or ECON 4751H - Honors: Financial Economics (4.0 cr)
· ECON 4960 - Topics in Economics (4.0 cr)
or ECON 4960H - Honors: Topics in Economics (4.0 cr)
· PUBH 6832 is a Masters' level course. Economics majors with a 3.6 or higher GPA should contact Dr. Simran Sahi about the possibility of signing up for this course.
· ECON 5890 - Economics of the Health-Care System (3.0 cr)
or PUBH 6832 - Economics of the Health Care System (3.0 cr)
· Area Study Courses
Only one country/area study course or DUS-approved study-abroad course may count toward the electives requirement.
Take no more than 1 course(s) from the following:
· ECON 3960 - Topics in Economics (3.0 cr)
· ECON 4311 - Economy of Latin America (3.0 cr)
· ECON 4317 - The Chinese Economy (3.0 cr)
Senior Project
This requirement may be waived if a senior project has been completed in another CLA department.
Take exactly 1 course(s) totaling exactly 2 credit(s) from the following:
· ECON 3951 - Major Project Seminar (2.0 cr)
Upper Division Writing Intensive within the major
Students are required to take one upper division writing intensive course within the major. If that requirement has not been satisfied within the core major requirements, students must choose one course from the following list. Some of these courses may also fulfill other major requirements.
Take 0 - 1 course(s) from the following:
· ECON 4331W - Economic Development [WI] (3.0 cr)
· ECON 4431W - International Trade [GP, WI] (3.0 cr)
· ECON 4432W - International Finance [WI] (3.0 cr)
· Students interested in taking ECON 4100W must register concurrently for ECON 4831 or another Advanced ECON course, and receive permission from the director of undergraduate studies.
· ECON 4100W - Undergraduate Writing in Economics [WI] (1.0 cr)
with ECON 4831 - Cost-Benefit Analysis (3.0 cr)
 
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ECON 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1104/1111/ApEc 1101
Typically offered: Every Fall, Spring & Summer
Microeconomic behavior of consumers, firms, and markets in domestic and world economy. Demand and supply. Competition and monopoly. Distribution of income. Economic interdependencies in the global economy. Effects of global linkages on individual decisions. prereq: knowledge of plane geometry and advanced algebra
ECON 1102 - Principles of Macroeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: 00020 - ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Fall, Spring & Summer
Aggregate consumption, saving, investment, and national income. Role of money, banking, and business cycles in domestic and world economy. International trade, growth, and development. U.S. economy and its role in the world economy. International interdependencies among nations. prereq: [1101 or equiv], knowledge of plane geometry and advanced algebra
MATH 1271 - Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: 00067 - Math 1271/Math 1281/Math 1371/
Typically offered: Every Fall, Spring & Summer
Differential calculus of functions of a single variable, including polynomial, rational, exponential, and trig functions. Applications, including optimization and related rates problems. Single variable integral calculus, using anti-derivatives and simple substitution. Applications may include area, volume, work problems. prereq: 4 yrs high school math including trig or satisfactory score on placement test or grade of at least C- in [1151 or 1155]
MATH 1371 - CSE Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1142/1271/1281/1371/1571H
Typically offered: Every Fall & Spring
Differentiation of single-variable functions, basics of integration of single-variable functions. Applications: max-min, related rates, area, curve-sketching. Use of calculator, cooperative learning. prereq: CSE or pre-bioprod concurrent registration is required (or allowed) in biosys engn (PRE), background in [precalculus, geometry, visualization of functions/graphs], instr consent; familiarity with graphing calculators recommended
MATH 1571H - Honors Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: 00067 - Math 1142/1271/1281/1371/1571H
Grading Basis: A-F only
Typically offered: Every Fall
Differential/integral calculus of functions of a single variable. Emphasizes hard problem-solving rather than theory. prereq: Honors student and permission of University Honors Program
MATH 1272 - Calculus II
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1272/1282/1252/1372/1572
Typically offered: Every Fall, Spring & Summer
Techniques of integration. Calculus involving transcendental functions, polar coordinates. Taylor polynomials, vectors/curves in space, cylindrical/spherical coordinates. prereq: [1271 or equiv] with grade of at least C-
MATH 1372 - CSE Calculus II
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1272/1282/1252/1372/1572
Typically offered: Every Spring
Techniques of integration. Calculus involving transcendental functions, polar coordinates, Taylor polynomials, vectors/curves in space, cylindrical/spherical coordinates. Use of calculators, cooperative learning. prereq: Grade of at least C- in [1371 or equiv], CSE or pre-Bioprod/Biosys Engr
MATH 1572H - Honors Calculus II
Credits: 4.0 [max 4.0]
Course Equivalencies: 00068 - Math 1272/1282/1252/1372/1572
Grading Basis: A-F only
Typically offered: Every Spring
Continuation of 1571. Infinite series, differential calculus of several variables, introduction to linear algebra. prereq: 1571H, honors student, permission of University Honors Program
ECON 3101 - Intermediate Microeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: 00025 - Econ 3101/Econ 3101H/ApEc 3001
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Behavior of households, firms, and industries under competitive/monopolistic conditions. Factors influencing production, price, and other decisions. Applications of theory. Economic efficiency. Distribution of well-being. prereq: [[1101, 1102] or equiv], [MATH 1271 or equiv]
ECON 3102 - Intermediate Macroeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: 00026 - Econ 3102/ApEc 3006
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Determinants of national income, employment, and price level; effects of monetary and fiscal policies; emphasis on a general equilibrium approach. Applications of the theory, especially to current macroeconomic policy issues. Students cannot take this course if they have taken ApEc 3006, however, ApEc 3006 does not contain all material in Econ 3102. Econ majors are encouraged to take ECON 3102 instead of ApEc 3006 prereq: 3101 or equiv
ECON 4211 - Principles of Econometrics
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Data analysis/quantitative methods in economics. Violation of classical regression model assumptions, modified estimation procedures that retain desirable properties. Multi-equation models. Computer applications/interpretation of empirical results. prereq: [3101 or equiv], [Stat 3011, Stat 3022] or equiv or higher level Stat courses], familiarity with computers
MATH 2243 - Linear Algebra and Differential Equations
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2243/2373/2573
Typically offered: Every Fall, Spring & Summer
Linear algebra: basis, dimension, matrices, eigenvalues/eigenvectors. Differential equations: first-order linear, separable; second-order linear with constant coefficients; linear systems with constant coefficients. prereq: [1272 or 1282 or 1372 or 1572] w/grade of at least C-
STAT 3021 - Introduction to Probability and Statistics
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
This is an introductory course in statistics whose primary objectives are to teach students the theory of elementary probability theory and an introduction to the elements of statistical inference, including testing, estimation, and confidence statements. prereq: Math 1272
STAT 3022 - Data Analysis
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Practical survey of applied statistical inference/computing covering widely used statistical tools. Multiple regression, variance analysis, experiment design, nonparametric methods, model checking/selection, variable transformation, categorical data analysis, logistic regression. prereq: 3011 or 3021 or SOC 3811
STAT 3032 - Regression and Correlated Data
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
This is a second course in statistics with a focus on linear regression and correlated data. The intent of this course is to prepare statistics, economics and actuarial science students for statistical modeling needed in their discipline. The course covers the basic concepts of linear algebra and computing in R, simple linear regression, multiple linear regression, statistical inference, model diagnostics, transformations, model selection, model validation, and basics of time series and mixed models. Numerous datasets will be analyzed and interpreted using the open-source statistical software R. prereq: STAT 3011 or STAT 3021
ECON 3970 - Topics in Economics
Credits: 3.0 [max 6.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Topics specified in class schedule. prereq: ECON 3101 and 3102 or equivalents
ECON 4331W - Economic Development (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 00031 - Econ 4301/4331
Typically offered: Every Fall, Spring & Summer
Economic growth in low income countries. Theory of aggregate and per capita income growth. Population growth, productivity increases, and capital formation. Allocation of resources between consumption and investment and among sectors. International assistance/trade. prereq: [[3101, 3102] or equiv], completion of freshman writing practice
ECON 4337 - Comparative Economic Systems
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 4307/4337
Typically offered: Every Fall, Spring & Summer
Functions of economic systems; market economy versus centrally planned economy. Comparison of different economic systems. Post socialist transitions in Eastern Europe, Russia, and China. Initial conditions and strategies for reforms; results of reforms in terms of key economic indicators. prereq: 3101, 3102 or equiv
ECON 4431W - International Trade (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 01974
Typically offered: Every Fall, Spring & Summer
Theories of trade/trade patterns. Trade restrictions/commercial policy. International factor movements. Economic growth/development. Multinational corporations. Regional integration. Transition economies. prereq: [3101, 3102] or equiv, freshman writing practice
ECON 4432W - International Finance (WI)
Credits: 3.0 [max 3.0]
Typically offered: Every Spring & Summer
Balance of payments; international financial markets; exchange rate determination; international monetary system; international investment and capital flows; financial management of the multinational firm; open economy macroeconomic policy. prereq: 3101, 3102 or equiv; 4431 or 4439 or equiv recommended
ECON 4531 - Labor Economics
Credits: 3.0 [max 3.0]
Course Equivalencies: 00027
Typically offered: Every Fall & Spring
Economic analysis of labor markets and their operations; population and labor force; labor market institutions; wage and employment theories; unions and collective bargaining; public policy. prereq: 3101, 3102 or equiv
ECON 4621 - Urban Economics
Credits: 3.0 [max 3.0]
Course Equivalencies: 01978
Typically offered: Periodic Spring
Economics of urbanization. Location of economic activity/cities. Central place theory. Urban economic base/economic policy. Urban problems. Transportation, poverty/segregation, housing, public finance. prereq: [3101, 3102] or equivalents
ECON 4631 - Industrial Organization and Antitrust Policy
Credits: 3.0 [max 3.0]
Course Equivalencies: 00028 - Econ 3601/Econ 4631/Econ 4631H
Typically offered: Every Fall, Spring & Summer
Relations between market structure, economic efficiency and welfare. Economic origins of monopoly and other restraints on competition. Purposes and effects of antitrust and related legislation. Industrial policy. prereq: 3101 or equiv
ECON 4721 - Money and Banking
Credits: 3.0 [max 3.0]
Course Equivalencies: 00029 - Econ 3701/4721
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Theories of money demand and money supply. Financial intermediation and banking, banking practices and regulation, role of the Federal Reserve system. Monetary theory and policy. prereq: [3101, 3102] or equiv
ECON 4731 - Macroeconomic Policy
Credits: 3.0 [max 3.0]
Course Equivalencies: 02051 - Econ 4731/Econ 4731H/Econ 4731
Typically offered: Every Fall & Spring
Monetary vs. fiscal policy debate in the context of the underlying macroeconomic theory controversy. Comparison of Keynesian, Monetarist, and Classical theories; rational expectations; policy ineffectiveness; time inconsistency; rules vs. discretion; budget deficits; unemployment and inflation. prereq: 3101, 3102 or equiv
ECON 4821 - Public Economics
Credits: 3.0 [max 3.0]
Course Equivalencies: 00030
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Competing views on proper role of government in economy. Effects of tax/spending policies, taking into account private agents' response to government actions/ways government officials may use powers. Optimal policies. Applications primarily to U.S. government. prereq: [3101, 3102] or equiv
ECON 4831 - Cost-Benefit Analysis
Credits: 3.0 [max 3.0]
Course Equivalencies: 00400 - Econ 4611H/Econ 4831
Typically offered: Every Fall & Spring
Evaluation of benefits and costs of public projects and programs. Issues connected with definition and measurement of benefits and costs. Rate of return and discount. Market imperfections, risk, uncertainty. Case studies.
ECON 4751 - Financial Economics
Credits: 3.0 [max 3.0]
Course Equivalencies: 00035 - Econ 4751/4759
Typically offered: Every Fall, Spring & Summer
Financial decisions of firms/investors. Determination of interest rates and asset prices. Role of risk/uncertainty. Emphasizes economic models. prereq: [3101 or equiv], [MATH 1271 or equiv], one sem statistics
ECON 4751H - Honors: Financial Economics
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 4751/4759
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Efficiency of financial markets. Theoretical concepts, empirical evidence. prereq: 3101, [3102 or equiv], [Math 1271 or equiv], [Stat 3011 or equiv]
ECON 4960 - Topics in Economics
Credits: 4.0 [max 8.0]
Course Equivalencies: 02053 - Econ 4960/Econ 4960H
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Topics specified in Class Schedule. prereq: [3101 or 3102 or equiv], MATH 1271
ECON 4960H - Honors: Topics in Economics
Credits: 4.0 [max 8.0]
Course Equivalencies: 02053
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Topics specified in Class Schedule prereq: [[3101, 3102] or equiv], MATH 1271; may change based on topic
ECON 5890 - Economics of the Health-Care System
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 5890/PubH 5893
Grading Basis: A-F or Aud
Typically offered: Every Fall
Economic analysis of U.S. health-care sector. Emphasizes problems of pricing, production, distribution. Health-care services as one factor contributing to nation's health. prereq: 3101 or instr consent
PUBH 6832 - Economics of the Health Care System
Credits: 3.0 [max 3.0]
Course Equivalencies: 00293 - Econ 5890/PubH 5893
Typically offered: Every Fall
Development of traditional issues in health economics. Production of health, demand for health capital and health care, insurance theory and markets, managed care, pricing, physician's services, production and costs in health care institutions, role of government, cost effectivness analysis, reform. prereq: [[Grad or professional school] student, knowledge of [microeconomic analytical tools, analytical statistics]] or instr consent
ECON 3960 - Topics in Economics
Credits: 3.0 [max 6.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Topics specified in class schedule. prereq: [1101, 1102] or equiv
ECON 4311 - Economy of Latin America
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Economic evolution in Latin America since 1950. Trade liberalization, poverty, inflation, development strategies in selected Latin American countries. Theory/applications of important issues. prereq: [1101, 1102] or equiv
ECON 4317 - The Chinese Economy
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Overview of the Chinese Economy; transition from command economy to a market-based one and effects on economic indicators; current economic issues and concerns of the Chinese economy; role of China in today's world economy.
ECON 3951 - Major Project Seminar
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Students produce a significant written work in economics. Project demonstrate critical thinking, collection/analysis of data, problem solving, interpretation of findings. Modes of inquiry in economics. prereq: 3101, 3102, STAT 3011, [STAT 3022 or equiv], two [3xxx or 4xxx] ECON courses, at least one 4xxx ECON writing intensive course, freshman writing requirement satisfied
ECON 4331W - Economic Development (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 00031 - Econ 4301/4331
Typically offered: Every Fall, Spring & Summer
Economic growth in low income countries. Theory of aggregate and per capita income growth. Population growth, productivity increases, and capital formation. Allocation of resources between consumption and investment and among sectors. International assistance/trade. prereq: [[3101, 3102] or equiv], completion of freshman writing practice
ECON 4431W - International Trade (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 01974
Typically offered: Every Fall, Spring & Summer
Theories of trade/trade patterns. Trade restrictions/commercial policy. International factor movements. Economic growth/development. Multinational corporations. Regional integration. Transition economies. prereq: [3101, 3102] or equiv, freshman writing practice
ECON 4432W - International Finance (WI)
Credits: 3.0 [max 3.0]
Typically offered: Every Spring & Summer
Balance of payments; international financial markets; exchange rate determination; international monetary system; international investment and capital flows; financial management of the multinational firm; open economy macroeconomic policy. prereq: 3101, 3102 or equiv; 4431 or 4439 or equiv recommended
ECON 4100W - Undergraduate Writing in Economics (WI)
Credits: 1.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Research essay. prereq: 3101, [concurrent registration is required (or allowed) in 4831 or concurrent registration is required (or allowed) in economics honors course], concurrent registration is required (or allowed) in economics advanced courses; freshman writing practice completed, instr consent
ECON 4831 - Cost-Benefit Analysis
Credits: 3.0 [max 3.0]
Course Equivalencies: 00400 - Econ 4611H/Econ 4831
Typically offered: Every Fall & Spring
Evaluation of benefits and costs of public projects and programs. Issues connected with definition and measurement of benefits and costs. Rate of return and discount. Market imperfections, risk, uncertainty. Case studies.