Majors, minors + certificates

Bachelor of Arts in Economics (ECONBA)Department of Economics

Students on Summer 2019, Fall 2019, or Spring 2020 requirements.

Description

The Bachelor of Arts in Economics provides excellent preparation for graduate and professional school, including law school, and for rewarding careers in consulting, finance, and other private and public sector employment. Specific courses in microeconomic theory, macroeconomic theory, statistics, and mathematical modeling provide students with the tools to analyze and guide the decisions of business firms, consumers, and public policymakers in a variety of market settings. Elective courses add breadth and depth to students' understanding of the basic tools of economic analysis by focusing on their application within specific subfields..

Economics focuses on providing an understanding of how individuals and societies manage their scarce resources people must decide how much they work, what they buy, how much they save, and how they use their leisure time. Most societies use decentralized markets as the primary means of allocating resources, so economics gives students insight into how markets function in coordinating the activities of many diverse buyers and sellers. Economics also analyzes the trends and forces that affect the economy as a whole, including growth in average income, the portion of the labor force that cannot find work, and the rate at which prices are rising or falling.

Economics majors have the option of adding up to two (2) concentrations to the major, chosen from Financial and Monetary Economics, International and Development Economics, Economics of the Public Sector and Labor Markets, Strategic Interaction, and Advanced Computation/Econometrics Tools.

Major requirements

The major requires at least 30 credit hours, including the requirements listed below.

  1. Introduction to Microeconomics. One (1) course from the .
    • Scarcity, opportunity cost, competitive and non-competitive market pricing, and interdependence as an analytical core. Individual sections apply this core to a variety of current economic policy problems, such as poverty, pollution, excise taxes, rent controls, and farm subsidies. (3 credit hours.)
    • P: Honors student. Designed for students of superior ability. Covers same core materials as ECON-E 201 and substitutes for ECON-E 201 as a prerequisite for other courses. (3 credit hours.)
  2. Introduction to Macroeconomics. One (1) course from the .
    • P: ECON-E 201 or ECON-S 201. Measuring and explaining aggregate economic performance, money, monetary policy, and fiscal policy as an analytical core. Individual sections apply this core to a variety of current economic policy problems, such as inflation, unemployment, and economic growth. (3 credit hours.)
    • P: ECON-S 201 or ECON-E 201; Honors student. Designed for students of superior ability. Covers same core material as ECON-E 202 and substitutes for ECON-E 202 as a prerequisite for other courses. (3 credit hours.)
  3. Intermediate Microeconomic Theory. One (1) course from the .
    • P: ECON-E 201 or ECON-S 201; MATH-M 119 or equivalent, or higher level calculus course. The economics of consumer choice. The economics of production, cost minimization, and profit maximization for business firms in the short run and long run under various market structures. Competition and adjustment to market equilibrium. Introduction to game theory, strategic interaction, and noncooperative equilibria. Credit given for only one of ECON-E 321 or ECON-S 321. (3 credit hours.)
    • P: ECON-E 201 or ECON-S 201; MATH-M 119 or equivalent, or higher level calculus course; Honors student. Designed for students of superior ability. Covers same core material as ECON-E 321 and substitutes for ECON-E 321 as a prerequisite for other courses. Credit given for only one of ECON-E 321 or ECON-S 321. (3 credit hours.)
  4. Intermediate Macroeconomic Theory. One (1) course from the .
    • P: ECON-E 202 or ECON-S 202; and ECON-E 321 or ECON-S 321. National income accounting; theory of income, employment, and price level. Countercyclical and other public policy measures. (3 credit hours.)
    • P: ECON-E 202 or ECON-S 202 and ECON-E 321 or ECON-S 321; Honors student. Designed for students of superior ability. Covers same core material as ECON-E 322 and substitutes for ECON-E 322 as a prerequisite for other courses. Credit given for only one of ECON-S 322 or ECON-E 322. (3 credit hours.)
  5. Statistics. One (1) course from the .
    • P: ECON-E 201 or ECON-S 201; and MATH-M 118 or consent of instructor. R: ECON-E 202 or ECON-S 202 and MATH-M 119. 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. Credit given for only one of ECON-E 370 or ECON-S 370; ANTH-A 306; CJUS-K 300; MATH-K 300 or MATH-K 310; POLS-Y 395; PSY-K 300 or PSY-K 310; SOC-S 371; STAT-K 310 or STAT-S 300, STAT-S 301, or STAT-S 303; or SPEA-K 300. (3 credit hours.)
    • P: ECON-E 201 or ECON-S 201; and MATH-M 118 or consent of instructor; Honors student. R: MATH-M 119 and ECON-E 202 or ECON-S 202. Honors course. Designed for students of superior ability. Covers same core material as ECON-E 370 and substitutes for ECON-E 370 as a prerequisite for other courses. Credit given for only one of ECON-E 370 or ECON-S 370; ANTH-A 306; CJUS-K 300; MATH-K 300 or MATH-K 310; POLS-Y 395; PSY-K 300 or PSY-K 310; SOC-S 371; STAT-K 310, STAT-S 300, STAT-S 301, or STAT-S 303; or SPEA-K 300. (3 credit hours.)
  6. Econometrics. One (1) course from the .
    • P: ECON-E 370 or ECON-S 370; MATH-M 119 or equivalent, or higher level calculus course. Only 9 credit hours from ECON-E 371, ECON-S 371, ECON-E 471, and ECON-E 472 may be counted toward a major in economics. An introduction to the theory and application of least-squares 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 cross-sectional and time-series datasets, and analyze the data using an econometrics software package. Credit given for only one of ECON-E 371 or ECON-S 371. (3 credit hours.)
    • P: ECON-E 370, ECON-S 370, or MATH-M 365; and MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 311 or MATH-S 311. Only 9 credit hours from ECON-E 371, ECON-S 371, ECON-E 471, and ECON-E 472 may be counted toward a major in economics. 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. (3 credit hours.)
    • P: ECON-E 370 or ECON-S 370; MATH-M 119 or equivalent, or higher level calculus course; Honors student. Only 9 credit hours from ECON-S 371, ECON-E 371, ECON-E 471, and ECON-E 472 may be counted toward a major in economics. Designed for students of superior ability. Covers same core material as ECON-E 371 and substitutes for ECON-E 371 as a prerequisite for other courses. Credit given for only one of ECON-S 371 or ECON-E 371. (3 credit hours.)
  7. Advanced Elective. One (1) additional course at the 300–499 level, excluding ECON-E 496 and ECON-X 373.
  8. Concentration or Additional Advanced Courses. One (1) of the following options, taking all courses in residence on the Bloomington campus:
    1. An Economics Concentration (see requirements below)
    2. Three (3) courses (beyond those completed for requirements above) above ECON-E 322, excluding ECON-E 496 and ECON-X 373.
  9. Addenda Requirements*.
    1. Finite Mathematics. One (1) course from the .
      • 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 MATH-M 014, MATH-M 018, or MATH-J 111. Sets, counting, basic probability, including random variables and expected values. Linear systems, matrices, linear programming, and applications. Credit given for only one of MATH-A 118, MATH-M 118, MATH-S 118, MATH-V 118; or MATH-D 116 and MATH-D 117. (3 credit hours.)
    2. Calculus. One (1) course from the .
      • R: To be successful, students will demonstrate mastery of two years of high school algebra, one year of high school geometry, and pre-calculus as indicated by an appropriate ALEKS score or completion of MATH-M 025 or MATH-M 027. Introduction to calculus. Primarily for students from business and the social sciences. Credit given for only one of MATH-J 113, MATH-M 119, MATH-V 119, MATH-M 211, or MATH-S 211. (3 credit hours.)
      • R: To be successful, students will demonstrate mastery of two years of high school algebra, one year of high school geometry, and pre-calculus, and trigonometry as indicated by an appropriate ALEKS score or completion of MATH-M 027. Limits, continuity, derivatives, definite and indefinite integrals, applications. A student may receive credit for only one of the following: MATH-J 113, MATH-M 119, MATH-V 119, MATH-M 211, or MATH-S 211. (4 credit hours.)
      • P: Placement by examination. Designed for students with one year of calculus in high school. Students completing MATH-M 213 with a final grade of A or B may receive credit for MATH-M 211. Review of material covered in MATH-M 211 followed by an intensive study of all material in MATH-M 212. Credit given for only one of MATH-M 212 or MATH-M 213. (4 credit hours.)
  10. GPA, Minimum Grade, and Other Requirements. Each of the following:
    1. At least 18 credit hours in the major must be completed in courses taken through the Indiana University Bloomington campus or an IU-administered or IU co-sponsored Overseas Study program.
    2. At least 18 credit hours in the major must be completed at the 300–499 level.
    3. Except for the GPA requirement, a grade of C- or higher is required for a course to count toward a requirement in the major.
    4. 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.
    5. Exceptions to major requirements may be made with the approval of the department's Director of Undergraduate Studies, subject to final approval by the College of Arts and Sciences.

Notes

  • * Courses used to fulfill addenda requirements require a grade of C- or higher and do not count toward the Major GPA or Major Hours.

Bachelor of Arts requirements

The Bachelor of Arts degree requires at least 120 credit hours, to include the following:

  1. College of Arts and Sciences Credit Hours. At least 100 credit hours must come from College of Arts and Sciences disciplines. No more than 42 of these credit hours can come from the major.
  2. Upper Division Courses. At least 42 credit hours (of the 120) must be at the 300–499 level.
  3. 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 IU-administered or IU co-sponsored Overseas Study program.
  4. College GPA. A cumulative grade point average (GPA) of at least 2.000 is required for all courses taken at Indiana University.
  5. CASE Requirements. The following College of Arts and Sciences Education (CASE) requirements must be completed:
    1. CASE Foundations
      1. English Composition: 1 course
      2. Mathematical Modeling: 1 course
    2. CASE Breadth of Inquiry
      1. Arts and Humanities: 4 courses
      2. Natural and Mathematical Sciences: 4 courses
      3. Social and Historical Studies: 4 courses
    3. CASE Culture Studies
      1. Diversity in the United States: 1 course
      2. Global Civilizations and Cultures: 1 course
    4. CASE Critical Approaches: 1 course
    5. CASE Foreign Language: Proficiency in a single foreign language through the second semester of the second year of college-level coursework
    6. CASE Intensive Writing: 1 course
    7. CASE Public Oral Communication: 1 course
  6. Major. Completion of the major as outlined in the Major Requirements section above.