Requirements for the Economics Major and Minor

       Economics is the social science that studies decision making given limited resources.

       The economics major and minor are designed to instruct students in economic theory, methods and analysis. The courses prepare students for a variety of fields where economics is relevant and important, including business, law, and government. The program gives students a solid grounding in both critical thinking and knowledge of the field in general.  The courses provide an understanding of markets and economic systems, and how to perform research and data analysis. The major also prepares students for graduate work in economics, business or related fields.

Watch this video by the American Economic Association: A career in Economics ... it's much more than you think! https://vimeo.com/americaneconassociation/career-in-economics

Major Requirements

     The major consists of a 25-credit core curriculum (including either 21&62:640:119 Basic Calculus or 21&62:640:135 Calculus I), and an additional 18 elective credits in Economics, for a total of 43 credits.

All courses must be completed with a grade of C or better.

Transfer Students: At least half of these credits must be completed at Rutgers-Newark.   
 
     The 18 elective credits (usually 300 and 400 level Economics courses) may include three of the following four courses from the School of Business:

29:390:315 Investments                                                29:390:329 Finance

29:390:330 Corporate Finance                                    29:390:386 Futures and Options.

 
     Seniors with at least a B average and with permission from the department chairperson may enroll in appropriate graduate courses.
 
     Students who are planning to do graduate work in Economics are encouraged to take Calculus I instead of Basic Calculus, and may want to consider additional courses in Mathematics.

 

PREREQUISITES

     Introduction to Economics (220:101,102) is a prerequisite for all other economics courses.  Mathematics 640:113 or its equivalent, or tested proficiency in College Algebra, is a prerequisite for all 220 courses, except Introduction to Economics (220:101,102).

 

CORE COURSES 

          220:101 Introduction to Economics-Micro         
          220:102 Introduction to Economics-Macro   
          220:231 Statistical Methods                      
          220:322 Introduction to Econometrics                
          220:323 Intermediate Economic Theory-Micro             
          220:324 Intermediate Economic Theory-Macro            
          220:406 Seminar in Applied Economics

          640:119 Basic Calculus or 640:135 Calculus       

 

ELECTIVE COURSES (3 credits each - 18 total)

        220:303 Economics of Industrial Relations
        220:304 Economics of Labor
        220:305 Development of the American Economy
        220:312 Women in the American Economy
        220:315 Managerial Economics
        220:316 Economics of Health
        220:327 History of Economic Thought
        220:335 International Economic Relations
        220:336 International Finance
        220:337 Public Finance
        220:339 Economic Development
        220:353 Urban and Regional Economics
        220:356 Business Cycles
        220:361 Industrial Organization
        220:365 Money and Banking
        220:367 Monetary Economics
        220:402 Advanced Econometrics
        220:407 Labor Seminar
        220:409 Introduction to Mathematical Economics
        220:414 Analysis of Current Economic Conditions
        220:439 Financial Economics
        220:499 Individual Study in Economics
        29:390:315 Investments  
        29:390:329 Finance  
        29:390:330 Corporate Finance  
        29:390:386 Futures and Options
 

MINOR REQUIREMENTS

     The economics minor requires 21 credits in economics courses to be completed with a grade of C or better.  This includes 9 credits of electives in economics (220) and the following 12 credits of core classes:
 
          220:101 Introduction to Economics-Micro       
          220:102 Introduction to Economics-Macro          
          220:323 Intermediate Economic Theory-Micro      
          220:324 Intermediate Economic Theory-Macro     
 
Note: RBS finance courses may not be used for the economics minor.

 

DOUBLE MAJOR

     Many students who major in finance also major in economics.  Be sure to check out the specific requirements for each major, as they tend to change over time.  If you are in doubt about specific courses, check with your advisor.