Major Transfer Guide for Economics

Degree:  Bachelor of Arts
                  Bachelor of Science

The Department Website provides information about major and minor options and requirements, the major declaration process, departmental advising contact information, and more. If you have specific questions about the major, you can contact the departmental advising office.

Recommendations from the Major Department

Courses to prepare for the major

CLA offers two 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 courses that are required to prepare for that major. 

The BA Economics major has three preparatory courses that are required for the major:

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

The BA Economics - Quantitative Emphasis major and the BS Economics major have four preparatory 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.
 
These preparatory courses must be completed with a grade of C- or better in order to declare the Economics major. 

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

Requirements to declare the major

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

To be eligible to declare the BA Economics major, the BA Economics-Quantitative Emphasis major, or the BS Economics major, students must have completed the necessary preparatory courses with grades of C- or better, and the courses and grades must be posted on their UMTC record.
 
To declare the major, students must first complete the online pre-declaration module. After students have successfully finished the module they can make an appointment with an Economics departmental advisor. At the declaration appointment, the advisor will provide an overview of each of Economics major and requirements. If the student has completed the preparatory courses, the advisor will submit a major program plan for review and approval by the Director of Undergraduate Studies. After this approval, the major is posted to the student’s record. It can take up to two weeks to process a student’s major declaration.
 
Declaring a major is an important step. Students cannot take 3xxx- or 4xxx-level ECON courses unless they are officially declared in an Economics major and the major appears on their student record. This includes ECON 3101 - Intermediate Microeconomics. Students who have completed the three courses required to declare the Economics BA major, but intend to pursue either the BA Economics - Quantitative Emphasis major or the Economics BS major, can declare the BA Economics major and then switch to the BA Quantitative Emphasis major or the BS major once they have completed MATH 1272 - Calculus II with a grade of C- or better.
 
If you are interested in an Economics major, it is important to begin working on the required prerequisites early in your academic career. Having ECON 1101, ECON 1102 and Math 1271 (or their approved equivalents) completed when you transfer to CLA will allow you to declare the BA Economics major shortly after you attend orientation and meet the prerequisites to register for ECON 3101. The 3xxx- and 4xxx-level ECON courses have strict prerequisites, so being able to declare early in your CLA career gives you more time to complete the major requirements. 
 
Statistics – Each Economics major includes required statistics courses. You are not required to complete the statistics requirements before declaring the major. Depending on the courses required for the Economics major you choose, you may be able to start the statistics requirements before being admitted to the major. 

Limits on the use of transfer credits towards the major

Lower division coursework –  ECON 1101, ECON 1102, and MATH 1271 (and MATH 1272 for the BA Quantitative Emphasis or the BS) are the only lower division (1xxx-level) courses that can count towards the Economics majors. All other major courses are at the 3xxx-4xxx level.
 
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.
 
Other limits on the use of transfer credits –

  • 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.
  • Business Calculus or Short Calculus are not accepted to satisfy the MATH 1271 course. A transfer math course must be evaluated as equivalent to our MATH 1271 in order to satisfy the major requirement.  

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. 

Additional information and recommendations

In considering a CLA Economics major, students have the opportunity to choose from three different majors – two that are part of a BA degree (Economics 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 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 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.