BS in Economics

CLA offers three Economics majors that are part of a BA degree and one that is part of a BS degree. Each major has a specific set of foundational courses that prepare you for that major. 

Effective Fall 2024, the BA Economics major and  BA Economics - Business Economics Emphasis have three foundational courses that are required for these majors:

• ECON 1101 -  Principles of Microeconomics
• ECON 1102 -  Principles of Macroeconomics
• MATH 1142 - Short Calculus or MATH 1271 -  Calculus I

The BA Economics - Quantitative Emphasis major and the BS Economics major have four foundational courses that are required for these majors:

• ECON 1101 - Principles of Microeconomics
• ECON 1102 - Principles of Macroeconomics
• MATH 1271 - Calculus I
• MATH 1272 - Calculus II

Depending on your level of math skills, you may need to complete prerequisite math courses before you can take MATH 1271.
 

A grade of C- or better is required in all courses approved to satisfy major requirements.

[Note: In response to the COVID-19 pandemic, for courses completed spring 2020 – spring 2021, the requirements of a letter grade of C- or better for use towards major (and minor) requirements was suspended and the S/N (Satisfactory/Not Satisfactory) grading basis will be accepted for major (or minor) requirements.]

See the catalog for all courses in the major.

Remember, when using Transferology to plan courses for the major, look for courses that transfer as direct equivalents to UMTC major courses.

In CLA, each department has a process to declare a major. This step is necessary for a major to be added to the student record. New transfer students do not declare their majors until after they attend orientation. 

Students can declare at any point after they attend orientation. Economics departmental advisors recommend declaring the major as soon as you are confident you want to pursue the major in order to access departmental resources such as scholarships, networking and research opportunities, and academic support.  Information about the Economics major declaration process can be found on the Declaring an Economics Major page

Major residency requirement – Students can use approved transfer courses equivalent to ECON 1101, ECON 1102, and their MATH and STAT requirements. In addition to these courses, the Economics Department allows students to use no more than two approved upper division (3xxx-level or higher) economics courses from another institution (including study abroad and U of M system campus coursework) towards the Economics major requirements.
 
Evaluation of transfer coursework –

• When evaluating a transfer course to determine if the course is equivalent to ECON 1101, the Economics department requires the course to focus on microeconomics. When evaluating a transfer course to determine if the course is equivalent to ECON 1102, the Economics department requires the course to focus on macroeconomics. Avoid courses that are a combination of microeconomics and macroeconomics.
• All transfer economics courses are evaluated by the Economics Department for use towards the major. Math and statistics courses are reviewed by those departments.

Transfer courses are evaluated by the department for use towards the major. Check Transferology to see if an evaluation already exists for the courses you would like to use toward the major.  If you find a course that has not been evaluated you can submit the course for review. A copy of the course syllabus is required. 

In considering a CLA Economics major, students have the opportunity to choose from four different majors – three that are part of a BA degree (Economics, Economics-Business Economics Emphasis, and Economics-Quantitative Emphasis), and one that is part of a BS degree. In addition to the differences in degree requirements, each major has specific math and statistics requirements, and offers a particular focus in the study of economics. It is important that you consider your interests, math background and skills, and future plans when deciding which major to pursue.

• The BA Economics major gives students a solid background in all facets of economics, is the least quantitative of the three Economics majors, and provides excellent preparation for working after graduation or studying in master’s programs.  BA Economics students typically work in business and industry, set up their own businesses, go to law school, or undertake master’s programs in the US and abroad. MATH 1142 or MATH 1271 is the math requirement for this major.
• The BA Economics- Business Economics Emphasis (more information to come soon). MATH 1142 or MATH 1271 is the math requirement for this major.
• The BA Economics-Quantitative Emphasis major adds basic quantitative training in mathematics, statistics, and econometrics to your economics coursework and best suits students who are considering field research, industry work requiring data analysis, and graduate work in business administration, health and public policy, or other fields. MATH 1271, MATH 1272, and MATH 2243 (Linear Algebra and Differential Equations) are required for this major.    
• The BS Economics major is for students interested in graduate study in economics or a career where quantitative analysis plays a significant role. With this degree, you can pursue graduate study or seek employment in consulting firms, banking and regulatory institutions, the health industry, and a variety of analytical skills-related opportunities. The strong quantitative component in this degree emphasizes multivariable calculus, linear algebra, and econometrics. MATH 1271, MATH 1272, MATH 2243, and MATH 2263 (Multivariable Calculus) are required for this major. 

If you are planning a BA with an Economics major, consider completing or starting your second language requirement before you transfer to CLA. Be sure to talk with a CLA transfer advisor about any questions you have about completing the CLA Second Language requirement.

The Economics Department has specific registration policies regarding access to and the scheduling of ECON major courses. These include strict enforcement of prerequisites and limits on the number of ECON courses that can be taken each semester. These policies are available online. Knowing these policies now will help you in developing your plan to complete your CLA degree and major.