Department of Economics
Bachelor of Science in Economics and Quantitative Methods
Students on Summer 2023, Fall 2023, or Spring 2024 requirements ECONQMBS
Requirements
The major requires at least 36 credit hours (42–43 with Addenda Requirements), including the requirements listed below.
 Fundamentals of Economics I. One (1) course:
 ECONB 251 Fundamentals of Economics for Business I
 ECONE 251
 ECONS 251 Fundamentals of Economics for Business I: Honors
ECONB 251 Fundamentals of Economics for Business I
 Credits
 3
 Prerequisites
 None
 Description
 First course in a twocourse sequence that introduces business students to essential economic concepts. Examines the economic notions of cost and gains from trade, determinants of economic growth, consumer and firm behavior in competitive and noncompetitive environments, the effects of taxation, externalities, moral hazard and adverse selection, and basic game theory.
 Repeatability
 Credit given for only one of ECONB 251 or ECONE 251.
 Fall 2024CASE SHcourse
ECONS 251 Fundamentals of Economics for Business I: Honors
 Credits
 3
 Prerequisites
 Must be a Hutton Honors student
 Description
 First in a twocourse sequence that introduces honors business students to essential economic concepts. Examines economic notions of cost and gains from trade, determinants of economic growth, consumer and firm behavior in competitive and noncompetitive environments, effects of taxation, externalities, moral hazard and adverse selection, and basic game theory.
 Repeatability
 Credit given for only one of ECONS 251, ECONB 251, or ECONE 251.
 Fundamentals of Economics II. One (1) course:
 ECONB 252 Fundamentals of Economics for Business II
 ECONE 252 Fundamentals of Economics II
ECONB 252 Fundamentals of Economics for Business II
 Credits
 3
 Prerequisites
 ECONB 251
 Description
 Continuation of Fundamental of Economics for Business I. After a review of the major types of markets, explores macroeconomic concepts, beginning with measurement and the National Income Accounts, and then moving to cycle fluctuations and performance of stock markets. Concludes with microeconomic and macroeconomic perspectives in two areas: labor markets and globalization will applications in business contexts.
 Repeatability
 Credit given for only one of ECONB 252 or ECONE 252.
 Fall 2024CASE SHcourse
ECONE 252 Fundamentals of Economics II
 Credits
 3
 Prerequisites
 ECONE 251 or ECONB 251
 Description
 Continuation of Fundamental of Economics I. After a review of the major types of markets, explores macroeconomic concepts, beginning with measurement and the National Income Accounts, and then moving to cycle fluctuations and performance of stock markets. Concludes with microeconomic and macroeconomic perspectives in two areas: labor markets and globalization.
 Repeatability
 Credit given for only one of ECONE 252 or ECONB 252.
 Fall 2024CASE SHcourse
 Intermediate Microeconomic Theory. One (1) course:
 ECONE 321 Intermediate Microeconomic Theory
 ECONS 321 Intermediate Microeconomic Theory: Honors
ECONE 321 Intermediate Microeconomic Theory
 Credits
 3
 Prerequisites
 ECONB 251 or ECONE 251; and MATHJ 113, MATHM 119, MATHV 119, MATHM 211, or MATHS 211
 Description
 Develops economic models of both consumer and firm behavior, including nonstrategic and strategic interactions. Models of market structure and behavior focus on price and output determination and include circumstances in which markets may succeed or fail to deliver socially beneficial outcomes.
 Repeatability
 Credit given for only one of ECONE 321 or ECONS 321.
 Fall 2024CASE SHcourse
ECONS 321 Intermediate Microeconomic Theory: Honors
 Credits
 3
 Prerequisites
 ECONB 251 or ECONE 251; and MATHJ 113, MATHM 119, MATHV 119, MATHM 211, or MATHS 211
 Description
 Designed for students of superior ability. Covers same core material as ECONE 321.
 Repeatability
 Credit given for only one of ECONE 321 or ECONS 321.
 Fall 2024CASE SHcourse
 Intermediate Macroeconomic Theory. One (1) course:
 ECONE 322 Intermediate Macroeconomic Theory
 ECONS 322 Intermediate Macroeconomic Theory: Honors
ECONE 322 Intermediate Macroeconomic Theory
 Credits
 3
 Prerequisites
 ECONE 252 or ECONB 252; and ECONE 321 or ECONS 321
 Description
 National income accounting; theory of income, employment, and price level. Countercyclical and other public policy measures.
 Fall 2024CASE SHcourse
ECONS 322 Intermediate Macroeconomic Theory: Honors
 Credits
 3
 Prerequisites
 ECONE 252 or ECONB 252 and ECONE 321 or ECONS 321; Hutton Honors student
 Description
 Designed for students of superior ability. Covers same core material as ECONE 322 and substitutes for ECONE 322 as a prerequisite for other courses.
 Repeatability
 Credit given for only one of ECONS 322 or ECONE 322.
 Fall 2024CASE SHcourse
 Statistics. One (1) course:
 ECONE 370 Statistical Analysis for Business and Economics
 ECONS 370 Statistical Analysis for Business and Economics: Honors
ECONE 370 Statistical Analysis for Business and Economics
 Credits
 3
 Prerequisites
 MATHM 118, MATHS 118, or MATHV 118
 Notes
 R: ECONE 252 or ECONB 252 and MATHM 119
 Description
 Lectures emphasize the use of basic probability concepts and statistical theory in the estimation and testing of single parameter and multivariate relationships. In computer labs, using Microsoft Excel, each student calculates descriptive statistics, probabilities, and least squares regression coefficients in situations based on current business and economic events.
 Repeatability
 Credit given for only one of ANTHA 306, CJUSK 300, ECONE 370, ECONS 370, MATHK 300, MATHK 310, POLSY 395, PSYK 300, PSYK 310, SOCS 371, SPEAK 300, SPHQ 381, STATK 310, STATS 300, STATS 301, or STATS 303.
 Fall 2024CASE NMcourse
ECONS 370 Statistical Analysis for Business and Economics: Honors
 Credits
 3
 Prerequisites
 MATHM 118, MATHS 118, or MATHV 118; and Hutton Honors student
 Notes
 R: MATHM 119 and ECONE 252 or ECONB 252
 Description
 Honors course. Designed for students of superior ability. Covers same core material as ECONE 370.
 Repeatability
 Credit given for only one of ANTHA 306, CJUSK 300, ECONE 370, ECONS 370, MATHK 300, MATHK 310, POLSY 395, PSYK 300, PSYK 310, SOCS 371, SPEAK 300, SPHQ 381, STATK 310, STATS 300, STATS 301, or STATS 303.
 Fall 2024CASE NMcourse
 Econometrics. One (1) course:
 ECONE 371 Introduction to Applied Econometrics
 ECONS 371 Introduction to Applied Econometrics: Honors
ECONE 371 Introduction to Applied Econometrics
 Credits
 3
 Prerequisites
 ECONE 251 or ECONB 251; and ECONE 370 or ECONS 370; and MATHJ 113, MATHM 119, MATHV 119, MATHM 211, or MATHS 211
 Description
 An introduction to the theory and application of leastsquares regression in empirical economics. Review of bivariate and multivariate regression models, hypothesis testing, and confidence intervals. Special topics include model specification, multicollinearity, heteroscedasticity, dummy variables, interactions, and various sources of estimation bias. Students will learn to work with both crosssectional and timeseries datasets, and analyze the data using an econometrics software package.
 Repeatability
 Credit given for only one of ECONE 371 or ECONS 371.
ECONS 371 Introduction to Applied Econometrics: Honors
 Credits
 3
 Prerequisites
 ECONE 251 or ECONB 251; and ECONE 370 or ECONS 370; and MATHJ 113, MATHM 119, MATHV 119, MATHM 211, or MATHS 211; and Hutton Honors Student
 Description
 Designed for students of superior ability. Covers same core material as ECONE 371 and substitutes for ECONE 371 as a prerequisite for other courses.
 Repeatability
 Credit given for only one of ECONS 371 or ECONE 371.
 Data Analytics and Computation. Two (2) courses:
 ECONE 401 Machine Learning for Economic Data
 ECONE 402 Computational Methods In Macroeconomics
 ECONE 471 Econometric Theory and Practice I
 ECONE 472 Econometric Theory and Practice II
ECONE 401 Machine Learning for Economic Data
 Credits
 3
 Prerequisites
 ECONE 321 or ECONS 321; and ECONE 371 or ECONS 371
 Description
 What is machine learning and how can we use it to help us explore economic data? This course develops exploratory data analysis skills and provides training in a variety of machine learning techniques used to analyze economic data while using the R programming language.
ECONE 402 Computational Methods In Macroeconomics
 Credits
 3
 Prerequisites
 ECONE 252 or ECONB 252; and ECONE 321 or ECONS 321
 Description
 Macroeconomic data are increasingly available and used by economists and data scientists to help decisionmakers. This course provides opportunities to develop tools to explore macroeconomic data, build and simulate macroeconomic models, perform experiments, and solve dynamic models using numeric methods. Also provides experience in the Python programming language.
ECONE 471 Econometric Theory and Practice I
 Credits
 3
 Prerequisites
 ECONE 370, ECONS 370, or MATHM 365; and MATHM 301, MATHM 303, or MATHS 303; and MATHM 311 or MATHS 311
 Notes
 Only 9 credit hours from ECONE 371, ECONS 371, ECONE 471, and ECONE 472 may be counted toward a major in economics
 Description
 Emphasis is on the classical linear regression model and its applications. Special topics include finite and asymptotic properties of least squares, hypothesis testing, model specification, dummy variables, proxies, multicollinearity and heteroscedasticity.
ECONE 472 Econometric Theory and Practice II
 Credits
 3
 Prerequisites
 ECONE 471
 Notes
 Only 9 credit hours from ECONE 371, ECONS 371, ECONE 471, and ECONE 472 may be counted toward a major in economics
 Description
 Emphasizes extensions of the classical linearregression model such as: limited dependent variables, instrumental variables, stationary and nonstationary data, fixedeffect and randomeffect models, multipleequation models, censored regression, and sample selection.
 Advanced Electives. Three (3) courses:
 Additional course from the Data Analytics and Computation list
 Any ECONE 320–329 except ECONE 320; ECONE 321; ECONE 322
 Any ECONE 330–339
 Any ECONE 340–349
 Any ECONE 350–359
 Any ECONE 360–369
 Any ECONE 370–379 except ECONE 370; ECONE 371
 Any ECONE 380–389
 Any ECONE 390–399 except ECONE 392
 Any ECONE 400–499 except ECONE 471; ECONE 472
 Free Electives. One (1) course:
 Additional course from the Advanced Electives list
 Any ECONE 300–309
 Any ECONE 310–319
 ECONE 320
 Addenda Requirements*.
 Finite Mathematics. One (1) course:
 MATHM 118 Finite Mathematics
 MATHS 118 Honors Finite Mathematics
MATHM 118 Finite Mathematics
 Credits
 3
 Prerequisites
 None
 Notes
 R: To be successful, students will demonstrate mastery of two years of high school algebra as indicated by an appropriate ALEKS score or completion of MATHM 014, MATHM 018, or MATHJ 111
 Description
 Sets, counting, basic probability, including random variables and expected values. Linear systems, matrices, linear programming, and applications.
 Repeatability
 Credit given for only one of MATHA 118, MATHM 118, MATHS 118, MATHV 118; or MATHD 116 and MATHD 117.
 Fall 2024CASE MMcourse
 Fall 2024CASE NMcourse
MATHS 118 Honors Finite Mathematics
 Credits
 3
 Prerequisites
 Hutton Honors College membership
 Notes
 R: To be successful students will demonstrate mastery of two years of high school algebra as indicated by an appropriate ALEKS score or completion of MATHM 014, MATHM 018, or MATHJ 111
 Description
 Designed for students of outstanding ability in mathematics. Covers all material of MATHM 118 and additional topics from statistics and game theory. Computers may be used in this course, but no previous experience is assumed.
 Fall 2024CASE MMcourse
 Fall 2024CASE NMcourse
 Calculus. One (1) course:
 MATHM 119 Brief Survey of Calculus I
 MATHM 211 Calculus I
MATHM 119 Brief Survey of Calculus I
 Credits
 3
 Prerequisites
 None
 Notes
 R: To be successful, students will demonstrate mastery of two years of high school algebra, one year of high school geometry, and precalculus as indicated by an appropriate ALEKS score or completion of MATHM 025 or MATHM 027
 Description
 Introduction to calculus. Primarily for students from business and the social sciences.
 Repeatability
 Credit given for only one of MATHJ 113, MATHM 119, MATHV 119, MATHM 211, or MATHS 211.
 Fall 2024CASE MMcourse
 Fall 2024CASE NMcourse
MATHM 211 Calculus I
 Credits
 4
 Prerequisites
 None
 Notes
 R: To be successful, students will demonstrate mastery of two years of high school algebra, one year of high school geometry, and precalculus, and trigonometry as indicated by an appropriate ALEKS score or completion of MATHM 027
 Description
 Limits, continuity, derivatives, definite and indefinite integrals, applications.
 Repeatability
 A student may receive credit for only one of the following: MATHJ 113, MATHM 119, MATHV 119, MATHM 211, or MATHS 211.
 Fall 2024CASE MMcourse
 Fall 2024CASE NMcourse
 Finite Mathematics. One (1) course:
 Major GPA, Hours, and Minimum Grade Requirements.
 Major GPA. A GPA of at least 2.000 for all courses taken in the major—including those where a grade lower than C is earned—is required.
 Major Minimum Grade. Except for the GPA requirement, a grade of C or higher is required for a course to count toward a requirement in the major.
 Major Upper Division Credit Hours. At least 18 credit hours in the major must be completed at the 300–499 level.
 Major Residency. At least 18 credit hours in the major must be completed in courses taken through the Indiana University Bloomington campus or an IUadministered or IU cosponsored Overseas Study program.
Notes
Major Area Courses

Unless otherwise noted below, the following courses are considered in the academic program and will count toward academic program requirements as appropriate:
 Any course at the 100–499 level with the
ECON
subject area prefix—as well as any other subject areas that are deemed functionally equivalent  Any course contained on the course lists for the academic program requirements at the time the course is taken—as well as any other courses that are deemed functionally equivalent—except for those listed only under Addenda Requirements
 Any course directed to a nonAddenda requirement through an approved exception
 Any course at the 100–499 level with the
Exclusions
The following courses cannot be applied toward major requirements:
 ECONE 115 Everyday Economics
 ECONX 373 Internship in Economics
ECONE 115 Everyday Economics
 Credits
 3
 Prerequisites
 None
 Notes
 Cannot be counted toward a major, interdepartmental major, or minor in economics
 Description
 Establishes the foundation necessary to achieve economic literacy by providing an introduction to economic concepts and institutions encountered in daily life: credit markets, inflation, interest rates, taxes, retirement savings, insurance, and the fundamental economic principles underlying these markets.
 Fall 2024CASE SHcourse
ECONX 373 Internship in Economics
 Credits
 1–3 credit hours
 Prerequisites
 Consent of department
 Notes
 Does not count toward a major or minor in economics
 Description
 Supervised work experience in an academic or business environment, including as a teaching assistant for undergraduate classes. Performance evaluation by a faculty mentor.
 Repeatability
 May be repeated for a maximum of 3 credit hours in ECONX 373 and ECONY 398.
 Grading
 S/F grading.
Restrictions
The following restrictions apply to the minimum credit hours required in the major:
 No more than 3 credit hours may count toward the major:
 ECONE 499 Honors Thesis
 No more than 3 credit hours of the following may count toward the major:
 ECONX 398 Independent Research in Economics
 No more than 6 combined credit hours of the following may be counted toward major:
 ECONE 303 Survey of International Economics
 ECONE 331 International Trade
 ECONE 332 International Monetary Economics
 No more than 6 combined credit hours of the following may be counted toward major:
 ECONE 308 Survey of Public Finance
 ECONE 361
 ECONE 362 Public Finance: Taxation
ECONE 499 Honors Thesis
 Credits
 3
 Prerequisites
 ECONE 322 or ECONS 322; and ECONE 370 or ECONS 370; Economics majors or interdepartmental major (ECON/POLS or ECON/MATH); minimum 3.300 economics GPA
 Notes
 Additional prerequisites may be required by the faculty mentor. Honors course; A maximum of 3 credit hours in ECONE 499 may count toward the major in economics
 Description
 Honors thesis research by special arrangement with an economics faculty mentor and the director of undergraduate studies.
ECONX 398 Independent Research in Economics
 Credits
 1
 Prerequisites
 ECONE 322 or ECONS 322; and ECONE 370 or ECONS 370; Economics majors or interdepartmental major (ECON/POLS or ECON/MATH); minimum 3.000 economics GPA.
 Notes
 Additional prerequisites may be required by the faculty mentor. A maximum of 3 credit hours in ECONX 398 and ECONE 391 may count toward the major in economics
 Description
 Independent readings and research by special arrangement with an economics faculty mentor and the director of undergraduate studies. A research paper or other substantial writing assignments are usually required.
 Repeatability
 Credit given for a maximum of 6 credit hours in ECONX 398 and ECONE 391.
ECONE 303 Survey of International Economics
 Credits
 3
 Prerequisites
 ECONE 252 or ECONB 252
 Description
 Basis for and effects of international trade, commercial policy and effects of trade restrictions, balance of payments and exchange rate adjustment, international monetary systems, and fixed versus flexible exchange rates.
 Fall 2024CASE SHcourse
ECONE 331 International Trade
 Credits
 3
 Prerequisites
 ECONE 321 or ECONS 321
 Notes
 Only 6 credit hours from ECONE 303, ECONE 331, and ECONE 332 may be counted toward a major in economics
 Description
 Theories of trade pattern, positive and normative aspects of trade and traderelated policies in competitive and noncompetitive markets; effects of trade liberalization and economic integration; trade policies by developed and developing nations; international factor movements.
ECONE 332 International Monetary Economics
 Credits
 3
 Prerequisites
 ECONE 321 or ECONS 321
 Notes
 Only 6 credit hours from ECONE 303, ECONE 331, and ECONE 332 may be counted toward a major in economics
 Description
 Theory of exchange rate and balance of payments adjustment, macroeconomic policy in open economies, history and comparison of international monetary systems, and proposals for reform.
 Repeatability
 Credit given for only one of ECONE 332 and ECONE 433.
ECONE 308 Survey of Public Finance
 Credits
 3
 Prerequisites
 ECONE 252 or ECONB 252
 Description
 Major elements of taxation and public expenditures.
 Fall 2024CASE SHcourse
ECONE 362 Public Finance: Taxation
 Credits
 3
 Prerequisites
 ECONE 321 or ECONS 321
 Notes
 Only 6 credit hours from ECONE 308, ECONE 361, and ECONE 362 may be counted toward a major in economics
 Description
 U.S. tax structure, income redistribution effects, and efficiency in resource allocation. Use of welfare theory and microeconomic models to evaluate particular issues.
This program of study cannot be combined with the following:
 Bachelor of Arts in Economics (ECONBA)
 Bachelor of Arts in Economics and Mathematics (ECONMATHBA)
 Bachelor of Arts in Economics and Political Science (ECONPOLSBA)
 Bachelor of Arts in Mathematics and Economics (MATHECONBA)
 Bachelor of Arts in Political Science and Economics (POLSECONBA)
 Interdepartmental Minor in Economics and Political Science (ECONPOLMIN)
 Interdepartmental Minor in Political Science and Economics (POLSECNMIN)
 Minor in Economics (ECONMIN)
 [Name unavailable] (INTECONMIN)
Exceptions to and substitutions for major requirements may be made with the approval of the unit's Director of Undergraduate Studies, subject to final approval by the College of Arts and Sciences.
The Bachelor of Science degree requires at least 120 credit hours, to include the following:
 College of Arts and Sciences Credit Hours. At least 100 credit hours must come from College of Arts and Sciences disciplines.
 Upper Division Courses. At least 36 credit hours (of the 120) must be at the 300–499 level.
 College Residency. Following completion of the 60th credit hour toward degree, at least 36 credit hours of College of Arts and Sciences coursework must be completed through the Indiana University Bloomington campus or an IUadministered or IU cosponsored Overseas Study program.
 College GPA. A College grade point average (GPA) of at least 2.000 is required.
 CASE Requirements. The following College of Arts and Sciences Education (CASE) requirements must be completed:
 CASE Foundations
 CASE Breadth of Inquiry
 CASE Culture Studies
 Diversity in the United States: 1 course
 Global Civilizations and Cultures: Not required
 CASE Critical Approaches: 1 course
 CASE Foreign Language: Proficiency in a single foreign language through the first semester of the second year of collegelevel coursework
 CASE Intensive Writing: 1 course
 CASE Public Oral Communication: 1 course
 Major. Completion of the major as outlined in the Major Requirements section above.
Most students must also successfully complete the Indiana University Bloomington General Education program.