Undergraduate Economics Program
Dennis Epple, Head of EconomicsCarol B. Goldburg, Director of Undergraduate Economics
Program Office: Tepper School of Business, Room 139
E-mail: econprog@andrew.cmu.edu
http://www.tepper.cmu.edu/undergraduate-economics
At its most fundamental level, economics is the study of how scarce resources are allocated. What will be produced and consumed, how much, and by whom? These questions, central to the well-being of people throughout the world, are the focus of economics. Economists identify, model, and analyze problems, developing meaningful solutions for the challenges confronting society. Economists are active participants in the processes and institutions through which the pressing concerns of society are addressed. Economists help businesses, political bodies, and other organizations make better decisions through the development of market strategies, the promulgation of regulatory structures, and the formulation of appropriate government policies. Increasingly, economists are taking advantage of new technologies to design and implement new markets and exchange mechanisms.
Carnegie Mellon University enjoys a rich history of innovative research in the field of economics. By bringing together rigorous theoretical and empirical work, the University supports some of the very best research. Six of our past and present faculty have been awarded the Nobel Prize in Economics. In the classroom, we bring the same rigorous, innovative approach to enable our students to develop their talents and realize the potential of their tremendous analytical skills. Our students also benefit from a strong culture of interdisciplinary collaboration and exposure to a broad range of research.
At Carnegie Mellon University, the Undergraduate Economics Program is supported by both the Tepper School of Business and the College of Humanities and Social Sciences. Economics majors are considered members of both colleges and enjoy their full support and services.
Educational Objectives
The Undergraduate Economics Program offers a range of degrees in economics designed to develop strong analytical skills and a solid foundation in the discipline of economics. More specifically, measurable objectives for our economics curriculum are the following:
- Students should be able to identify, explain, and use economic concepts, theories, models, and data-analytic techniques.
- Students should acquire and use knowledge of economics, mathematics, statistics, and computing flexibly in a variety of contexts, providing the foundation for success in graduate studies and careers in the public and private sectors.
- Students should be able to apply their economic tools to formulate positions on a wide range of social and economic problems and engage effectively in policy debates.
- Students should use the investigative skills necessary for conducting original economic research and participating effectively in project teams.
- Students should be able to deliver effective presentations in which they combine visual communication design with oral arguments and/or the written word.
Advising
The Undergraduate Economics Program is committed to providing students with the opportunity to have meaningful and informative discussions about their academic, intellectual, and career interests with a wide range of advisors and mentors. All students taking economics courses are invited to meet with an economics advisor. Students pursuing a degree in economics are assigned an economics advisor who meets with them on a regular basis.
Students are encouraged to meet frequently with their Undergraduate Economics Program academic advisor to ensure that their courses fulfill the requirements towards their degree and are appropriately sequenced. Students should also seek the advice of their academic advisor in selecting courses, and, in particular, planning ahead for study abroad.
To facilitate scheduling advising meetings, please use the online appointment scheduler found on the program's advising website.
Curricula
In order to accommodate students’ wide variety of goals, four primary degree programs are available: Bachelor of Arts in Economics, Bachelor of Science in Economics, Bachelor of Science and Mathematical Sciences (jointly administered by the Department of Mathematics and the Undergraduate Economics Program), and Bachelor of Science in Economics and Statistics (jointly administered by the Department of Statistics and the Undergraduate Economics Program).
For students who major in other academic fields, additional major programs in Economics and in Economics and Statistics and a minor degree program in Economics are available. This information can be found following the discussions about the major curricula.
The Majors
The four major degree programs have been designed to provide students with a solid understanding of the central theories and analytical tools of the field of economics, while maintaining the flexibility necessary to meet the needs of a diversity of career paths. The four degrees produce strong analytical thinkers who are able to model and analyze complex problems. Graduates of the Undergraduate Economics Program gain employment as economic analysts in both the private and public sectors; pursue advanced professional degrees in business, law, and public policy; as well as enter into Ph.D. programs in economics, statistics, finance, and related fields.
First–year students are not expected to know which degree option they wish to pursue. For this reason, the first–year curricula are quite similar for the four degrees. As students become involved in their course work, participate in the extra– and co–curricular activities sponsored by the Undergraduate Economics Program, and talk with an economics advisor, the decision of which degree to pursue becomes evident.
The B.A. in Economics Curriculum and the B.S. in Economics Curriculum are designed to provide students with a solid understanding of economic theory and quantitative economic analysis. The introductory core disciplinary sequences in economic theory and quantitative analysis are identical: both rely on the same knowledge base of calculus and statistics. Where these two degree programs differ is in their emphases of study in the advanced levels. The advanced data analysis component of the B.A. in Economics Curriculum pays additional attention to ordinal data and the study of surveys. The flexibility of the “Special Electives” requirement allows students the opportunity to study political, historical, cultural, and social institutions. In the advanced levels of the economic theory component of the B.S. in Economics Curriculum, the foundations of modern economics are examined, using mathematically sophisticated models. The capstone of the two degree programs is the Senior Project course where students use their qualitative and quantitative skills to contribute to the body of knowledge in empirical, experimental, and/or theoretical studies.
The B.S. in Economics and Mathematical Sciences Curriculum is a collaborative effort between the Department of Mathematical Sciences and the Undergraduate Economics Program. Combining advanced mathematics with advanced economic theory is the hallmark of this curriculum. The curriculum provides students with courses that complement and develop depth of understanding of economic theory, applied economics, and applied mathematics. This degree offers an integrated curriculum, guiding students through a program of coursework that exploits and builds upon the synergies between mathematics and economics. This degree program equips students with the mathematical tools that are essential for success in Ph.D. programs in economics; mathematics; and key functional areas of business including finance, accounting, marketing, and information systems. Students pursuing this degree will be well prepared for the beginning of their research careers in academia, government, and industry. There are a limited number of student slots in this program; interested students may apply as early as their sophomore year.
The B.S. in Economics and Statistics Curriculum is a collaborative effort between the Department of Statistics and the Undergraduate Economics Program. It provides an interdisciplinary course of study aimed at students with a strong interest in the empirical analysis of economic data. The major’s curriculum provides students with a solid foundation in the theories and methods of both fields. Students in this major are trained to advance the understanding of economics issues through the analysis, synthesis, and reporting of data using the advanced empirical research methods of statistics and econometrics.
Dual Degree in Economics
A student pursuing a primary degree outside of the department may obtain a dual degree in economics by completing all of the requirements for the B.S. in Economics. In addition, the student’s total units complete must be at least 90 units in excess of the requirement for the student’s other degree(s) or at least 450 units, whichever is greater. Interested students should meet with an economics advisor.
Honors Program in Economics
Outstanding students are eligible for the honors programs in both the Tepper School of Business and the College of Humanities and Social Sciences. For more information, consult the H&SS Honors Program website.
The Tepper Senior Honors Program in Economics provides qualified students with the opportunity to engage in original research during their senior year at Carnegie Mellon. The primary rewards of participating in the Honors Program in Economics are three-fold. First comes the satisfaction of undertaking and completing an original piece of research. Working independently or with a faculty member to identify a research question and claim ownership of its discovery process is a rewarding experience. Second is the opportunity to challenge oneself intellectually. The third advantage is the opportunity to graduate with Tepper Honors. For many, this process of intellectual inquiry and knowledge creation is the highlight and culmination of their undergraduate academic experience.
Students are invited into the Tepper Senior Honors Program in Economics during their junior year. Invitation is based on academic achievement at Carnegie Mellon University, ability to work independently, and tenacity of spirit. In addition to writing an honors thesis, requirements for this program include: participation in the Junior Honors Research Seminar in Economics, an approved selection of upper-level economic electives which include a minimum of two courses requiring Advanced Microeconomic Analysis and/or Advanced Macroeconomic Analysis as pre-requisites, and participation in the Senior Honors Research in Economics Colloquia.
Accelerated Master’s Degree Programs
Accelerated Master’s Degree programs enable exceptional students to earn both an undergraduate degree and a masters degree by remaining one additional year at Carnegie Mellon. The Heinz College of Public Policy and Management offers four professional accelerated masters degree programs: a Master of Science in Arts Administration, Master of Science of Health Care and Policy Management, Master of Information Systems Management, and Master of Science in Public Policy and Management. The Tepper School of Business offers one accelerated professional degree, a Master in Business Administration. For more details, visit the Accelerated Master’s Degree Programs site on the Undergraduate Economics Program website.
Major Degree Requirements and Sample Schedules
In addition to completing a minimum 360 units and fulfilling both the H&SS General Education requirements and all University requirements, recipients of an undergraduate degree in economics must complete courses in mathematics, probability and statistics, writing, economics theory, and economic analysis, as well as a set of advanced electives and other specialized courses.
Following the list of requirements for each degree are sample four-year course schedules for a student pursuing undergraduate degrees in economics. As there are many different ways of completing the requirements, students are strongly encouraged to meet with an economics advisor to tailor their courses to their own particular needs. It is the responsibilities of the students to ensure that they understand all of the program requirements and that they meet the necessary conditions for graduation. When planning course schedules, students must give consideration to all pre-requisite and co-requisite requirements.
B.A. in Economics Curriculum
Mathematics Prerequisites (19 units)
| Courses | Units | |
| 21-120 | Differential and Integral Calculus | 10 |
| 21-256 | Multivariate Analysis | 9 |
Sophomore Economics Colloquium (1 unit)
| Units | ||
| 73-450 | Economics Colloquium | 1 |
Writing Requirement (9 units)
| Units | ||
| 73-270 | Writing for Economists | 9 |
Economic Theory Requirements (27 units)
| Units | ||
| 73-100 | Principles of Economics | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 73-200 | Intermediate Macroeconomics | 9 |
Economic History Requirement (9 Units)
| Units | ||
| 73-310 | Evolution of Economic Ideas and Analysis | 9 |
Quantitative Analysis Requirements (54 Units)
| Units | ||
| 36-201 | Statistical Reasoning and Practice | 9 |
| 36-202 | Statistical Methods | 9 |
| or | 36-208 Regression Analysis (9 units) | |
| or | 70-208 Regression Analysis (9 units) | |
| 73-407 | Fundamentals of Statistical Modeling | 9 |
| 36-303 | Sampling, Survey and Society | 9 |
Advanced Economics Electives (36 Units)
Students must take four advanced elective courses. Advanced elective courses are those numbered 73-300 through 73-495 , as well as courses designated by the Program offered by other departments/programs. Additionally, students may work with their advisor to structure alternative sets of courses to meet these requirements based on their particular interests, subject to course availability.
Special Electives (27 Units)
Students must take three special elective courses in the humanities and social sciences. The complete list of courses designated as special electives is maintained, revised, and published online each semester by the Undergraduate Economics Program. The list below is representative of the courses that qualify as "Special Electives;" this is not an exhaustive list of qualifying courses.
Course List
| Representative List of "Special Elective" Courses | Units | |
| 79-221 | Development and Democracy in Latin America | 9 |
| 79-246 | Industrial America | 9 |
| 79-300 | History of American Public Policy | 9 |
| 79-305 | Juvenile Delinquency: Images, Realities, Public Policy, 1800-1967 | 9 |
| 79-335 | Drug Use and Drug Policy | 9 |
| 79-375 | China's Environmental Crisis | 9 |
| 79-386 | Entrepreneurs in Africa, Past, Present and Future | 9 |
| 80-130 | Introduction to Ethics | 9 |
| 80-136 | Social Structure, Public Policy & Ethics | 9 |
| 80-221 | Philosophy of Social Science | 9 |
| 80-235 | Political Philosophy | 9 |
| 88-260 | Organizations | 9 |
| 80-305 | Rational Choice | 9 |
| 80-321 | Causation, Law, and Social Policy | 9 |
| 80-348 | Health Development and Human Rights | 9 |
| 88-365 | Behavioral Economics and Public Policy | 9 |
| 88-387 | Social Norms and Economics | 9 |
| 88-412 | Economics of Global Warming | 9 |
| 90-735 | Health Economics | 12 |
| 90-747 | Cost Benefit Analysis | 6 |
| 90-792 | Applied Demography | 12 |
| 90-808 | Energy Policy | 6 |
Senior Work (9 Units; 18 Units for students working on an honors thesis in economics)
| Units | ||
| 73-497 | Senior Project | 9 |
| or | 73-500 Tepper College Honors Thesis I and | |
| 73-501 Tepper College Honors Thesis II | ||
| or | 66-501 H&SS Senior Honors Thesis I (9 units) and | |
| 66-502 H&SS Senior Honors Thesis II (9 units) | ||
Sample Schedule for B.A. in Economics
First Year
| Fall Term | Units | |
| xx-xxx | Freshman Seminar | 9 |
| 21-120 | Differential and Integral Calculus | 10 |
| 36-201 | Statistical Reasoning and Practice | 9 |
| 73-100 | Principles of Economics | 9 |
| 99-101 | Computing @ Carnegie Mellon | 3 |
| xx-xxx | Open | 9 |
| 49 | ||
| Spring Term | Units | |
| 21-256 | Multivariate Analysis | 9 |
| 36-202 | Statistical Methods | 9 |
| 76-101 | Interpretation and Argument | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 79-104 | Global Histories | 9 |
| 45 | ||
Second Year
| Fall Term | Units | |
| 73-200 | Intermediate Macroeconomics | 9 |
| 73-450 | Economics Colloquium | 1 |
| xx-xxx | "Special Elective" | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 46 | ||
| Spring Term | Units | |
| 73-270 | Writing for Economists | 9 |
| 73-407 | Fundamentals of Statistical Modeling | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Third Year
| Fall Term | Units | |
| 73-310 | Evolution of Economic Ideas and Analysis | 9 |
| xx-xxx | "Special Elective" | 9 |
| xx-xxx | Advanced Economic Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
| Spring Term | Units | |
| 36-303 | Sampling, Survey and Society | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | "Special Elective" | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Fourth Year
| Fall Term | Units | |
| 73-497 | Senior Project | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
| Spring Term | Units | |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
B.S. in Economics Curriculum
Mathematics Requirement (29 Units)
| Units | ||
| 21-120 | Differential and Integral Calculus | 10 |
| 21-122 | Integration, Differential Equations and Approximation | 10 |
| 21-259 | Calculus in Three Dimensions | 9 |
| or | 21-256 Multivariate Analysis (9 units) | |
Sophomore Colloquium (1 Unit)
| Units | ||
| 73-450 | Economics Colloquium | 1 |
Quantitative Analysis Requirements (27 Units)
| Units | ||
| 36-225 | Introduction to Probability Theory | 9 |
| or | 36-217 Probability Theory and Random Processes (9 units) | |
| or | 21-325 Probability (9 units) | |
| 36-226 | Introduction to Statistical Inference | 9 |
| 73-261 | Econometrics | 9 |
Writing Requirement (9 Units)
| Units | ||
| 73-270 | Writing for Economists | 9 |
Economic Theory Requirements (39 Units)
| Units | ||
| 73-100 | Principles of Economics | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 73-200 | Intermediate Macroeconomics | 9 |
| 73-252 | Advanced Microeconomic Theory | 6 |
| 73-253 | Advanced Macroeconomic Theory | 6 |
Advanced Economics Electives (45 Units)
Students must take five advanced elective courses. Advanced elective courses are those numbered 73-300 through 73-495 . For the purpose of these requirements, the Undergraduate Economics Program may also designate as advanced electives courses from other departments/programs. Additionally, students may work with their advisor to structure alternative sets of courses to meet these requirements based on their particular interests, subject to course availability.
Senior Work (9 Units; 18 Units for students working on an honors thesis in economics)
| Units | ||
| 73-497 | Senior Project | 9 |
| or | 73-500 Tepper College Honors Thesis I and | |
| 73-501 Tepper College Honors Thesis II | ||
| or | 66-501 H&SS Senior Honors Thesis I (9 units) and | |
| 66-502 H&SS Senior Honors Thesis II (9 units) | ||
Sample Course Schedule for the B.S. in Economics
First Year
| Fall Term | Units | |
| xx-xxx | Freshman Seminar | 9 |
| 21-120 | Differential and Integral Calculus | 10 |
| 36-201 | Statistical Reasoning and Practice | 9 |
| 73-100 | Principles of Economics | 9 |
| 99-101 | Computing @ Carnegie Mellon | 3 |
| xx-xxx | Open | 9 |
| 49 | ||
| Spring Term | Units | |
| 21-259 | Calculus in Three Dimensions | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 76-101 | Interpretation and Argument | 9 |
| 79-104 | Global Histories | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Second Year
| Fall Term | Units | |
| 21-122 | Integration, Differential Equations and Approximation | 10 |
| 36-225 | Introduction to Probability Theory | 9 |
| 73-200 | Intermediate Macroeconomics | 9 |
| 73-450 | Economics Colloquium | 1 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 47 | ||
| Spring Term | Units | |
| 36-226 | Introduction to Statistical Inference | 9 |
| 73-252 | Advanced Microeconomic Theory | 6 |
| 73-253 | Advanced Macroeconomic Theory | 6 |
| 73-270 | Writing for Economists | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| 48 | ||
Third Year
| Fall Term | Units | |
| 73-497 | Senior Project | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
| Spring Term | Units | |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Fourth Year
| Fall Term | Units | |
| 73-497 | Senior Project | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
| Spring Term | Units | |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
B.S. in Economics and Mathematical Sciences Curriculum
Economic Theory Requirements (39 Units)
| Units | ||
| 73-100 | Principles of Economics | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 73-200 | Intermediate Macroeconomics | 9 |
| 73-252 | Advanced Microeconomic Theory | 6 |
| 73-253 | Advanced Macroeconomic Theory | 6 |
Quantitative Analysis Requirements (36 Units)
| Units | ||
| 36-225 | Introduction to Probability Theory | 9 |
| or | 36-217 Probability Theory and Random Processes (9 units) | |
| or | 21-325 Probability (9 units) | |
| 36-226 | Introduction to Statistical Inference | 9 |
| 73-261 | Econometrics | 9 |
| 36-401 | Modern Regression | 9 |
Mathematical Sciences Requirements (93 Units)
| Units | ||
| 21-120 | Differential and Integral Calculus | 10 |
| 21-122 | Integration, Differential Equations and Approximation | 10 |
| 21-127 | Concepts of Mathematics | 9 |
| 21-228 | Discrete Mathematics | 9 |
| 21-241 | Matrices and Linear Transformations | 10 |
| 21-259 | Calculus in Three Dimensions | 9 |
| 21-260 | Differential Equations | 9 |
| 21-355 | Principles of Real Analysis I | 9 |
| 21-356 | Principles of Real Analysis II | 9 |
| 21-373 | Algebraic Structures | 9 |
Programming Requirement (9 Units)
| Units | ||
| 15-110 | Principles of Computing | 10 |
Writing Requirement (9 Units)
| Units | ||
| 73-270 | Writing for Economists | 9 |
Advanced Economic Electives (27 Units)
Students must take three advanced economics elective courses. Advanced Elective courses are those courses numbered 73-300 through 73-495 , as well as courses designated by the Undergraduate Economics Program which are offered by other departments/programs. At least one of the courses must have Advanced Microeconomic Analysis or Advanced Macroeconomics Analysis as a prerequisite. Students are encouraged to work with their advisors to structure a set of courses which meet these requirements based on their particular interests, subject to course availability.
Recommended Advanced Economics Electives:
| 73-310 | Evolution of Economic Ideas and Analysis | 9 |
| 73-347 | Game Theory for Economists | 9 |
| 73-392 | Financial Economics | 9 |
| 73-405 | Introduction to Dynamic Economics | 9 |
Mathematical Science Depth Electives (27 Units)
Students must take three advanced mathematics depth courses. Students are encouraged to work with their advisors to structure a set of courses which meet these requirements based on their particular interests, subject to course availability.
Recommended Mathematical Science Depth Electives:
| 21-292 | Operations Research I | 9 |
| 21-329 | Set Theory | 9 |
| 21-365 | Projects in Applied Mathematics | 9 |
| 21-366 | Topics in Applied Mathematics | 9 |
| 21-371 | Functions of a Complex Variable | 9 |
| 21-374 | Field Theory | 9 |
| 21-441 | Number Theory | 9 |
| 21-484 | Graph Theory | 9 |
| 21-499 | Undergraduate Research Topic | 9 |
Note: Only one of the following three courses may count towards the required Mathematical Sciences Depth Electives: 21-365 , 21-366 , or 21-499 .
Sample Course Schedule for the B.S. in Economics and Mathematical Sciences
First Year
| Fall Term | Units | |
| xx-xxx | Freshman Seminar | 9 |
| 21-120 | Differential and Integral Calculus | 10 |
| 36-201 | Statistical Reasoning and Practice | 9 |
| 73-100 | Principles of Economics | 9 |
| 99-101 | Computing @ Carnegie Mellon | 3 |
| xx-xxx | Open | 9 |
| 49 | ||
| Spring Term | Units | |
| 15-110 | Principles of Computing | 10 |
| 21-259 | Calculus in Three Dimensions | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 76-101 | Interpretation and Argument | 9 |
| 79-104 | Global Histories | 9 |
| 46 | ||
Second Year
| Fall Term | Units | |
| 21-122 | Integration, Differential Equations and Approximation | 10 |
| 21-127 | Concepts of Mathematics | 9 |
| 73-200 | Intermediate Macroeconomics | 9 |
| 36-225 | Introduction to Probability Theory | 9 |
| xx-xxx | Open | 9 |
| Spring Term | Units | |
| 21-241 | Matrices and Linear Transformations | 10 |
| 36-226 | Introduction to Statistical Inference | 9 |
| 73-252 | Advanced Microeconomic Theory | 6 |
| 73-253 | Advanced Macroeconomic Theory | 6 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| 49 | ||
Third Year
| Fall Term | Units | |
| 21-260 | Differential Equations | 9 |
| 73-261 | Econometrics | 9 |
| 73-270 | Writing for Economists | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Mathematics Depth Elective | 9 |
| 45 | ||
| Spring Term | Units | |
| 21-355 | Principles of Real Analysis I | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Mathematics Depth Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Fourth Year
| Fall Term | Units | |
| 21-228 | Discrete Mathematics | 9 |
| 21-356 | Principles of Real Analysis II | 9 |
| 36-401 | Modern Regression | 9 |
| 73-497 | Senior Project | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
| Spring Term | Units | |
| 21-373 | Algebraic Structures | 9 |
| xx-xxx | Mathematics Depth Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
B.S. in Economics and Statistics Curriculum
Mathematics Requirements (39 Units)
| Units | ||
| 21-120 | Differential and Integral Calculus | 10 |
| 21-122 | Integration, Differential Equations and Approximation | 10 |
| 21-241 | Matrices and Linear Transformations | 10 |
| 21-259 | Calculus in Three Dimensions | 9 |
| or | 21-256 Multivariate Analysis (9 units) | |
Writing Requirement (9 Units)
| Units | ||
| 73-270 | Writing for Economists | 9 |
Disciplinary Core - Economics (48 Units)
| Units | ||
| 73-100 | Principles of Economics | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 73-200 | Intermediate Macroeconomics | 9 |
| 73-252 | Advanced Microeconomic Theory | 6 |
| 73-253 | Advanced Macroeconomic Theory | 6 |
| 73-261 | Econometrics | 9 |
Disciplinary Core - Statistics (45 Units)
| Units | ||
| 36-202 | Statistical Methods | 9 |
| or | 36-309 Experimental Design for Behavioral and Social Sciences (9 units) | |
| or | 70-208 Regression Analysis (9 units) | |
| 36-225 | Introduction to Probability Theory | 9 |
| or | 36-217 Probability Theory and Random Processes (9 units) | |
| or | 21-325 Probability (9 units) | |
| 36-226 | Introduction to Statistical Inference | 9 |
| 36-401 | Modern Regression | 9 |
| 36-402 | Advanced Data Analysis | 9 |
Advanced Electives (45 Units)
Students must take five advanced elective courses with a minimum of two from the Undergraduate Economics Program and two from the Department of Statistics. Advanced elective courses are those numbered 73-300 through 73-495 . For the purpose of these requirements, the Undergraduate Economics Program may also designate as advanced electives courses from other departments. The Department of Statistics designates advanced electives as those courses number 36-300 and higher.
Sample Course Schedule for the B.S. in Economics and Statistics
First Year
| Fall Term | Units | |
| xx-xxx | Freshman Seminar | 9 |
| 21-120 | Differential and Integral Calculus | 10 |
| 36-201 | Statistical Reasoning and Practice | 9 |
| 73-100 | Principles of Economics | 9 |
| 99-101 | Computing @ Carnegie Mellon | 3 |
| xx-xxx | Open | 9 |
| 49 | ||
| Spring Term | Units | |
| 21-259 | Calculus in Three Dimensions | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 76-101 | Interpretation and Argument | 9 |
| 79-104 | Global Histories | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Second Year
| Fall Term | Units | |
| 21-122 | Integration, Differential Equations and Approximation | 10 |
| 36-225 | Introduction to Probability Theory | 9 |
| 73-200 | Intermediate Macroeconomics | 9 |
| 73-450 | Economics Colloquium | 1 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 47 | ||
| Spring Term | Units | |
| 21-241 | Matrices and Linear Transformations | 10 |
| 36-226 | Introduction to Statistical Inference | 9 |
| 73-252 | Advanced Microeconomic Theory | 6 |
| 73-253 | Advanced Macroeconomic Theory | 6 |
| 73-270 | Writing for Economists | 9 |
| xx-xxx | Open | 9 |
| 49 | ||
Third Year
| Fall Term | Units | |
| 73-261 | Econometrics | 9 |
| 36-401 | Modern Regression | 9 |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Statistics Elective | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
| Spring Term | Units | |
| 36-402 | Advanced Data Analysis | 9 |
| xx-xxx | Statistics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Fourth Year
| Fall Term | Units | |
| xx-xxx | Statistics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
| Spring Term | Units | |
| xx-xxx | Advanced Economics Elective | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| xx-xxx | Open | 9 |
| 45 | ||
Additional Major in Economics Curriculum
The requirements for the Additional Major in Economics are the same as those for the B.S. in Economics, except that the H&SS general education requirements are waived. In order to avoid “double counting” issues, students are encouraged to meet with an economics advisor.
Additional Major in Economics and Statistics Curriculum
The requirements for the Additional Major in Economics in Statistics are the same as those for the B.S. in Economics and Statistics, except that the H&SS general education requirements are waived. In order to avoid “double counting” issues, students are encouraged to meet with an economics advisor.
Minor in Economics
The requirements for a Minor in Economics consist of mathematics requirements, computing requirements, probability and statistics requirements, and economics courses listed below. In order to avoid “double counting” issues, students are encouraged to meet with an economics advisor.
Mathematics Requirements (19 Units)
| Units | ||
| 21-120 | Differential and Integral Calculus | 10 |
| 21-256 | Multivariate Analysis | 9 |
Economic Theory Requirements (27 Units)
| Units | ||
| 73-100 | Principles of Economics | 9 |
| 73-150 | Intermediate Microeconomics | 9 |
| 73-200 | Intermediate Macroeconomics * | 9 |
*Some students may choose to focus their minor in microeconomics theory and applications. These student may elect not to take 73-200 Intermediate Macroeconomics, and instead, replace it with an additional advanced economics elective.
Quantitative Analysis Requirements (27 Units)
| Option One | Units | |
| 36-201 | Statistical Reasoning and Practice | 9 |
| 36-202 | Statistical Methods | 9 |
| or | 36-208 Regression Analysis (9 units) | |
| 73-407 | Fundamentals of Statistical Modeling | 9 |
| Option Two | Units | |
| 36-225 | Introduction to Probability Theory | 9 |
| or | 36-217 Probability Theory and Random Processes (9 units) | |
| or | 21-325 Probability (9 units) | |
| 36-202 | Statistical Methods | 9 |
| or | 36-208 Regression Analysis (9 units) | |
| 73-407 | Fundamentals of Statistical Modeling | 9 |
Advanced Economics Electives (18 Units)
Students must take two advanced elective courses. Advanced elective courses are those numbered 73-300 through 73-495 , as well as courses designated by the program offered by other departments/programs. Additionally, students may work with their economics advisor to structure alternative sets of courses to meet these requirements based on their particular interests, subject to course availability.