Majors & Minors

“The Department of Economics at the University of Minnesota holds a special place in the economics world, of which our undergraduate majors play an important role. A unifying theme throughout the department is that careful theoretical and empirical reasoning underlies all research and teaching. Or put more simply: any economic question worth examining is worth examining well.”
—Professor Christopher Phelan

We offer four options to undergraduates majoring/minoring in economics:

The BS is designed for students interested in graduate school within the field of economics, or a career in which quantitative/statistical economic analysis plays a significant role. The major’s strong quantitative component stresses multivariate calculus, linear algebra, and econometrics—essentials to economics graduate training.

The BA gives you a solid background in all facets of economics but without the quantitative emphasis of the BS option. It is the least quantitative of our three majors and it offers considerable freedom in course selection. The BA option provides excellent preparation for working after graduation or pursuing a master’s degree. The quantitative emphasis BA (BA-Q) includes basic quantitative training in calculus, linear algebra, and econometrics. This degree is particularly suitable for those considering graduate work in business administration or those considering work in places that require data and statistical work.

Below is a chart outlining the requirements for each degree program. Please see your economics advisor for additional course sequencing information.


Bachelor of Arts (34 Credits)	Bachelor of Arts - Quantitative (35 Credits)	Bachelor of Science (48 Credits)
Econ 1101* - Principles of Microeconomics Econ 1102* - Principles of Macroeconomics	Econ 1101* - Principles of Microeconomics Econ 1102* - Principles of Macroeconomics	Econ 1101* - Principles of Microeconomics Econ 1102* - Principles of Macroeconomics
Math 1271* - Calculus 1	Math 1271* - Calculus 1 Math 1272* - Calculus 2 Math 2243 - Linear Algebra	Math 1271* - Calculus 1 Math 1272* - Calculus 2 Math 2243 - Linear Algebra Math 2263 - Multivariable Calculus
Stat 3011 - Intro to Statistical Analysis Stat 3022 - Data Analysis or Stat 3032 - Regression Analysis & Correlated Data	Stat 3021 - Intro to Probability & Statistics Stat 3022 - Calculus II Stat 3032 - Regression Analysis and Correlated Data	Stat 4101 or 5101 - Theory of Statistics I Stat 4102 or 5102 - Theory of Statistics II
Econ 3101 - Intermediate Microeconomics Econ 3102 - Intermediate Macroeconomics	Econ 3101 - Intermediate Microeconomics Econ 3102 - Intermediate Macroeconomics	Econ 3101 - Intermediate Microeconomics Econ 3102 - Intermediate Macroeconomics
Electives - 6 upper-division Econ courses (18 credits) to include 1 Econ 4XXX** course	Electives - 4 upper-division Econ courses (12 credits) to include 1 Econ 4XXX** course	Electives - 4 upper-division Econ courses (20 credits) to include 1 Econ 4XXX course AND 2 advanced upper-division electives including 1 Econ 4/5XXX WI course
No Econometrics Course	Econ 4211 - Principles of Econometrics	Econ 4261 -Intro to Econometrics
Econ 3951 - Major Project Seminar	Econ 3951 - Major Project Seminar	No senior project seminar
Second language degree requirement	Second language degree requirement	No second language degree requirement

*Pre-requisite courses for admission to the major
**Writing Intensive Course

If you prefer a program less quantitatively stringent than an economics major, you may be interested in the bachelor of individualized studies (BIS) program, through which a 15-credit concentration in economics courses may be combined with courses in two other areas of concentration.

Capstone Project

BA and BA-Q majors are required to complete the capstone project. The goal of the College of Liberal Arts is to have every student produce a significant piece of written work in the subject matter of the major. The economics capstone project requires you to demonstrate your ability to think critically and creatively; gather, recognize, and interpret data; solve problems; interpret and communicate findings; and attain understanding and proficiency in the modes of inquiry common to the discipline.

For the capstone project, we ask that our students be able to:

define an economic problem
review some relevant literature related to the problem
use economic data and analysis to describe or explain the problem
present a conclusion or resolution

Note that survey papers are not acceptable. You must make some contribution to the field of study.

You have four options to complete the capstone requirement:

Most students register for Econ 3951 (2 credits). Students must receive a grade of A or B. Students choosing this option need to register for Econ 3951 if the instructor is going to help them write a paper to fulfill the Capstone requirement.
If a student receives a grade of 90/100 or more on a paper written for an Economics Writing Intensive course (ECON 4331W, 4431W, and 4432W) the student can submit the original paper to the capstone instructor for review. If the paper is accepted, the student is exempt from writing the senior project paper. **Please contact the Econ advisors for clarification.
If a student completes an Honors Thesis (3 credits or more) it does not need to be submitted for further review. See additional information regarding the Honors Thesis in Economics below.
Students pursuing more than one major may finish their capstone in another declared major. Once the capstone project has been completed, notify the Econ advisors to update APAS.