Campuses:
Twin Cities Campus
Economics MinorEconomics
College of Liberal Arts
Economics is a useful minor for students majoring in business, engineering, statistics, computer science, mathematics, and all of the social sciences. Minors are available in six subfields: general, economic theory, econometrics, international trade and development, applied microeconomics and monetary theory. All subfields are designed to complement study in other academic disciplines.
Program Delivery
This program is available:
Admission Requirements
ECON 1101 & 1102 are basic prerequisites for all upperdivision ECON coursework.
For information about University of Minnesota admission requirements, visit the
Office of Admissions
website.
Required prerequisites
Preparatory Courses
ECON 1101  Principles of Microeconomics
[SOCS, GP]
(4.0 cr)
ECON 1102  Principles of Macroeconomics
(4.0 cr)
Minor Requirements
The minor consists of 8 credits of lower division coursework, and 1735 credits of upper division coursework, dependent on the chosen subfield. This includes a minimum of 3 upper division ECON courses and supporting work in mathematics and/or statistics, where applicable. At least 9 upperdivision ECON credits must be taken in residency 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.
Program Subplans
Students are required to complete one of the following subplans.
General
Take a total of 17 subplan credits. No substitutions are permitted. All minor coursework must be taken AF. Successful completion of the courses listed here constitutes satisfaction of the requirements for a minor in general economics.
General Requirements
Take exactly 2 course(s) totaling exactly 8 credit(s) from the following:
·
MATH 1142  Short Calculus
[MATH]
(4.0 cr)
or
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)
·
ECON 3101  Intermediate Microeconomics
(4.0 cr)
Electives
Only one country/area course may count toward the minor.
Take 3 or more course(s) totaling 9 or more credit(s) from the following:
·
ECON 3xxx
·
ECON 4xxx
Economic Theory
Take a total of 2728 subplan credits. No substitutions are permitted. All minor coursework must be taken AF. Only one country/area course may count toward the minor. Successful completion of the courses listed here constitutes satisfaction of the requirements for a minor in economic theory.
Economic Theory Requirements
Take exactly 7 course(s) totaling 27  28 credit(s) from the following:
·
MATH 2243  Linear Algebra and Differential Equations
(4.0 cr)
·
MATH 2263  Multivariable Calculus
(4.0 cr)
·
ECON 3101  Intermediate Microeconomics
(4.0 cr)
·
ECON 3102  Intermediate Macroeconomics
(4.0 cr)
·
MATH 1142  Short Calculus
[MATH]
(4.0 cr)
or
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 1572H  Honors Calculus II
(4.0 cr)
Econometrics
Take a total of 35 subplan credits. No substitutions are permitted. All minor coursework must be taken AF. Successful completion of the courses listed here constitutes satisfaction of the requirements for a minor in econometrics.
Econometrics Requirements
Take the following 6 courses for a total of 24 credits.
MATH 2243  Linear Algebra and Differential Equations
(4.0 cr)
ECON 3101  Intermediate Microeconomics
(4.0 cr)
ECON 3102  Intermediate Macroeconomics
(4.0 cr)
ECON 4261  Introduction to Econometrics
(4.0 cr)
MATH 1142  Short Calculus
[MATH]
(4.0 cr)
or
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 1572H  Honors Calculus II
(4.0 cr)
Theory of Statistics
Take one of the following course pairs for a total of 8 credits:
Directed Study
Take exactly 3 credit(s) from the following:
·
ECON 3993  Directed Studies
(1.03.0 cr)
International Trade and Development
Take a total of 2023 subplan credits. No substitutions are permitted. All minor coursework must be taken AF. Only one country/area course may count toward the minor. Successful completion of the courses listed here constitutes satisfaction of the requirements for a minor in international trade and development.
Calculus
Take 1 of the following courses for 4 credits.
MATH 1142  Short Calculus
[MATH]
(4.0 cr)
or
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)
International Trade and Development Requirements
Take the following 3 courses for a total of 10 credits.
ECON 3101  Intermediate Microeconomics
(4.0 cr)
ECON 4331W  Economic Development
[WI]
(3.0 cr)
ECON 4337  Comparative Economic Systems
(3.0 cr)
International Economics
Take the following course or course pair for a total of 36 credits:
ECON 4401  International Economics
[GP]
(3.0 cr)
or
ECON 4431W  International Trade
[GP, WI]
(3.0 cr)
ECON 4432W  International Finance
[WI]
(3.0 cr)
International Economics Area of Focus
Only one country/area course may count toward the minor.
Take exactly 1 course(s) from the following:
·
ECON 4311  Economy of Latin America
(3.0 cr)
·
ECON 4317  The Chinese Economy
(3.0 cr)
·
Studyabroad Course Approved by ECON Director of Undergraduate Studies
Applied Microeconomics
Take a total of 20 subplan credits. No substitutions are permitted. All minor coursework must be taken AF. Successful completion of the courses listed here constitutes satisfaction of the requirements for a minor in applied microeconomics.
Applied Microeconomics Requirements
Take the following 5 courses for 17 credits. ECON 4211 is recommended, but not required.
ECON 3101  Intermediate Microeconomics
(4.0 cr)
ECON 4531  Labor Economics
(3.0 cr)
ECON 4631  Industrial Organization and Antitrust Policy
(3.0 cr)
Additional ECON 4xxx (3 cr)
MATH 1142  Short Calculus
[MATH]
(4.0 cr)
or
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)
Monetary Theory
Take a total of 25 subplan credits. No substitutions are permitted. All minor coursework must be taken AF. Successful completion of the courses listed here constitutes satisfaction of the requirements for a minor in monetary theory.
Calculus
Take 1 of the following courses for 4 credits.
MATH 1142  Short Calculus
[MATH]
(4.0 cr)
or
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)
Monetary Theory Requirements
Take exactly 6 course(s) totaling exactly 21 credit(s) from the following:
·
ECON 3101  Intermediate Microeconomics
(4.0 cr)
·
ECON 3102  Intermediate Macroeconomics
(4.0 cr)
·
ECON 4721  Money and Banking
(3.0 cr)
·
ECON 4731  Macroeconomic Policy
(3.0 cr)
·
ECON 4751  Financial Economics
(3.0 cr)
·
STAT 3011  Introduction to Statistical Analysis
[MATH]
(4.0 cr)


Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 1101/1104/1111/ApEc 1101 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  ApEc 1102/Econ 1102/1105/1112 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Grading Basis:  AF only 
Typically offered:  Every Fall 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3101/Econ 3101H/ApEc 3001 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  3.0 [max 3.0] 
Typically offered:  Every Fall & Spring 
Credits:  3.0 [max 3.0] 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 2243/Math 2373/Math 2574H 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 2263/Math 2374/Math 2573H 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3101/Econ 3101H/ApEc 3001 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3102/ApEc 3006 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Grading Basis:  AF only 
Typically offered:  Every Fall 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1272/Math 1282/Math 1372/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1272/Math 1282/Math 1372/ 
Grading Basis:  AF only 
Typically offered:  Every Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 4113/Econ 4113H/Econ 4118 
Grading Basis:  AF only 
Typically offered:  Periodic Fall & Spring 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 4731/Econ 4731H/Econ 4731 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 2243/Math 2373/Math 2574H 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3101/Econ 3101H/ApEc 3001 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3102/ApEc 3006 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Grading Basis:  AF or Aud 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Grading Basis:  AF only 
Typically offered:  Every Fall 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1272/Math 1282/Math 1372/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1272/Math 1282/Math 1372/ 
Grading Basis:  AF only 
Typically offered:  Every Spring 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall & Spring 
Credits:  1.0 3.0 [max 3.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Grading Basis:  AF only 
Typically offered:  Every Fall 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3101/Econ 3101H/ApEc 3001 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  3.0 [max 3.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 4307/Econ 4337 
Typically offered:  Every Fall & Spring 
Credits:  3.0 [max 3.0] 
Typically offered:  Every Fall & Spring 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 4431W/Econ 4431V/Econ 443 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  3.0 [max 3.0] 
Grading Basis:  AF only 
Typically offered:  Every Spring & Summer 
Credits:  3.0 [max 3.0] 
Typically offered:  Every Fall & Spring 
Credits:  3.0 [max 3.0] 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3101/Econ 3101H/ApEc 3001 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 4531/Econ 4538 
Typically offered:  Every Fall & Spring 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 3601/Econ 4631/Econ 4631H 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Grading Basis:  AF only 
Typically offered:  Every Fall 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 3801/Econ 4828/Econ 4821 
Grading Basis:  AF only 
Typically offered:  Every Fall & Spring 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 4611H/Econ 4831 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Typically offered:  Every Fall & Spring 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Math 1271/Math 1281/Math 1371/ 
Grading Basis:  AF only 
Typically offered:  Every Fall 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3101/Econ 3101H/ApEc 3001 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  Econ 3102/ApEc 3006 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 3701/Econ 4721/Econ 4721H 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 4731/Econ 4731H/Econ 4731 
Typically offered:  Every Fall & Spring 
Credits:  3.0 [max 3.0] 
Course Equivalencies:  Econ 4751/Econ 4751H/Econ 4758 
Grading Basis:  AF only 
Typically offered:  Every Fall, Spring & Summer 
Credits:  4.0 [max 4.0] 
Course Equivalencies:  AnSc 3011/ESPM 3012/Stat 3011/ 
Typically offered:  Every Fall, Spring & Summer 