Majors, minors + certificates

Bachelor of Arts in Economics and Mathematics (ECONMATHBA)Department of Economics

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

Description

The interdepartmental major in economics and mathematics is designed to enable students to model economic questions mathematically, and to analyze and solve those models. Students must meet the following course requirements. Any course may be replaced by the honors equivalent.

Major requirements

The major requires at least 40 credit hours*, including the requirements listed below.

  1. Economics courses.
    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. Electives. Three (3) additional economics courses numbered above ECON-E 322, including at least one at the 400–499 level. ECON-E 370, ECON-E 496, and ECON-X 373 cannot be used to meet this requirement.
  2. Mathematics courses.
    1. Calculus I. 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, 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: Hutton Honors College membership or consent of department. 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. Designed for students of outstanding ability, who are considering further study in mathematics. Limits, continuity, derivatives, definite and indefinite integrals, applications, with emphasis placed on theory. Credit given for only one of MATH-J 113, MATH-M 119, MATH-M 211, MATH-S 211, or MATH-V 119. (4 credit hours.)
    2. Calculus II. One (1) course from the .
      • P: MATH-M 211 or MATH-S 211; or consent of department. Techniques of integration (by parts, trigonometric substitutions, partial fractions), improper integrals, volume, work, arc length, surface area, infinite series. Credit given for only one of MATH-M 120 or MATH-M 212. (4 credit hours.)
      • P: MATH-S 211 or consent of department. Includes material of MATH-M 212 and supplemental topics. Designed for students of outstanding ability in mathematics. Credit given for only one of MATH-M 120, MATH-M 212, or MATH-S 212. (4 credit hours.)
    3. Linear Algebra. One (1) course from the .
      • P: MATH-M 212, MATH-M 213, or MATH-S 212; or MATH-M 211 and CSCI-C 241; or MATH-S 211 and CSCI-C 241. Solving systems of linear equations, matrix algebra, determinants, vector spaces, eigenvalues and eigenvectors. Selection of advanced topics. Applications throughout. Computer used for theory and applications. Credit given for only one of MATH-M 301 or MATH-M 303. (3 credit hours.)
      • P: MATH-M 212, MATH-M 213, or MATH-S 212; or MATH-M 211 and CSCI-C 241; or MATH-S 211 and CSCI-C 241. Introduction to the theory of real vector spaces. Coordinate s, linear dependence, bases. Linear transformations and matrix calculus. Determinants and rank. Eigenvalues and eigenvectors. Credit given for only one of MATH-M 301, MATH-M 303, or MATH-S 303. (3 credit hours.)
      • P: Consent of department. Honors version of MATH-M 303. For students with unusual aptitude and motivation. Not open to those who have had MATH-M 301 or MATH-M 303. (3 credit hours.)
    4. Calculus III. One (1) course from the .
      • P: MATH-M 212, MATH-M 213, or MATH-S 212. Elementary geometry of 2, 3, and n-space; functions of several variables; partial differentiation; minimum and maximum problems; multiple integration. (4 credit hours.)
      • P: MATH-S 212 or consent of instructor. Honors version of MATH-M 311. For students with unusual aptitude and motivation. Credit not given for both MATH-M 311 and MATH-S 311. (4 credit hours.)
    5. Mathematics Area. Two (2) courses, including at least one at the 400–499 level, from the following lists of courses, grouped by mathematics area (Students who qualify for honors may use MATH-S 499 to replace the second course in a mathematical area with approval of the Department of Mathematics):
        • One of the following:
          • P: MATH-M 311 or MATH-S 311. Differential calculus of vector-valued functions, transformation of coordinates, change of variables in multiple integrals. Vector integral calculus: line integrals, Green’s theorem, surface integrals, Stokes’s theorem. Applications. Credit given for only one of MATH-M 312 or MATH-S 312. (3 credit hours.)
          • P: MATH-S 311 or consent of instructor. For students with unusual aptitude and motivation. Credit given for only one of MATH-M 312 or MATH-S 312. (3 credit hours.)
        • One of the following:
          • P: MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 311 or MATH-S 311. Modern theory of real number , limits, functions, sequences and series, Riemann-Stieltjes integral, and special topics. (3 credit hours.)
          • P: MATH-S 312; or consent of instructor. Differentiable transformations defined on Euclidean space, inverse and implicit function theorems. Lebesgue integration over Euclidean space and transformation of integrals. Exterior algebra, measure and integration on manifolds. Stokes’s theorem. Closed and exact forms. (3 credit hours.)
        • One of the following:
          • P: MATH-M 413 or MATH-S 413. Continuation of MATH-M 413. Functions of several variables, Taylor series, extreme values. Manifolds in Euclidean space, Implicit Function Theorem, Inverse Function Theorem. Divergence Theorem and other classical theorems of vector calculus. Special topics. Credit given for only one of MATH-M 414 or MATH-S 414. (3 credit hours.)
          • P: MATH-S 413; or consent of instructor. Differentiable transformations defined on Euclidean space, inverse and implicit function theorems. Lebesgue integration over Euclidean space and transformation of integrals. Exterior algebra, measure and integration on manifolds. Stokes’s theorem. Closed and exact forms. Credit given for only one of MATH-S 414 or MATH-M 414. (3 credit hours.)
        • One of the following:
          • P: MATH-M 311, MATH-S 311, or consent of instructor. Algebra and geometry of complex numbers, elementary functions of a complex variable, power series, integrations, calculus of residues, conformal mapping. Application to physics. Credit given for only one of MATH-M 415 or MATH-S 415. (3 credit hours.)
          • P: MATH-S 311; or consent of instructor. For students with unusual aptitude and motivation. Algebra and geometry of complex numbers, elementary functions of a complex variable, power series, contour integrals, calculus of residues, conformal mapping. Credit given for only one of MATH-M 415 or MATH-S 415. (3 credit hours.)
        • P: MATH-M 301, MATH-M 303, or MATH-S 303. Topology of Euclidean and metric spaces. Limits and continuity. Topological properties of metric spaces, including separation properties, connectedness, and compactness. Complete metric spaces. Elementary general topology. (3 credit hours.)
        • One (1) of the following:
          • P: MATH-M 212, MATH-M 213, or MATH-S 212. R: MATH-M 301, MATH-M 303, or MATH-S 303. Ordinary differential equations and methods for their solution, including series methods and the Laplace transform. Applications of differential equations. s, stability, and numerical methods. Partial differential equations of mathematical physics, Fourier series. Credit given for only one of MATH-M 343 or MATH-S 343. (3 credit hours.)
          • P: MATH-S 212 or consent of instructor. Introduction, with historical examples, first order ordinary differential equations (ODEs) and applications, second order linear ODEs, linear ODEs of higher order, series solutions to linear ODEs, and numerical methods for ODEs. In addition, some theoretical aspects will be studied in detail such as the Picard existence/uniqueness theorem for initial-value problems, convergence of series solutions, and the matrix exponential exp(tA). (3 credit hours.)
        • One (1) of the following:
          • P: One of MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 343 or MATH-S 343. Ordinary differential equations and methods for their solution, including series methods and the Laplace transform.  Applications of differential equations.  Systems, stability, and numerical methods.  Partial differential equations of mathematical physics, Fourier series. (3 credit hours.)
          • P: MATH-M 212; MATH-M 301 or MATH-M 303; MATH-M 343 or MATH-S 343; and consent of the department. Covers the topics of MATH-M 344, in addition to more theoretical material, which may include topics such as the uniqueness theorem for the inversion of the Laplace transform, introduction to the theory of distributions, derivation of the heat and wave equations, eigenvalues of Sturm-Liouville boundary problems, and oscillation theory applied to special functions. Meets with M344, and the additional material will be incorporated in weekly homework sets. Exams will include some of this additional material. (3 credit hours.)
        • P: MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 311 or MATH-S 311; and MATH-M 343 or MATH-S 343. R: MATH-M 312 or MATH-S 312. Derivation and methods of solution of classical partial differential equations of mathematical physics: heat, wave, and Laplace equations. Separation of variables, Fourier series, Sturm-Liouville theory, special functions, Green’s functions, Fourier transform, first order equations, characteristics and special topics. (3 credit hours.)
        • P: MATH-M 441. Derivation and methods of solution of classical partial differential equations of mathematical physics: heat, wave, and Laplace equations. Separation of variables, Fourier series, Sturm-Liouville theory, special functions, Green’s functions, Fourier transform, first order equations, characteristics and special topics. (3 credit hours.)
        • P: MATH-M 212, MATH-M 213, or MATH-S 212. Interpolation and approximation of functions, solution of equations, numerical integration and differentiation. Errors, convergence, and stability of the procedures. Students write and use programs applying numerical methods. (3 credit hours.)
        • P: MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 311 or MATH-S 311. P or C: MATH-M 365. Formation and study of mathematical models used in the biological, social, and management sciences. Mathematical topics include games, graphs, Markov and Poisson processes, mathematical programming, queues, and equations of growth. (3 credit hours.)
        • P: MATH-M 311 or MATH-S 311; and MATH-M 365. Course covers probability theory, Brownian motion, Ito’s Lemma, stochastic differential equations, and dynamic hedging. These topics are applied to the Black-Scholes formula, the pricing of financial derivatives, and the term theory of interest rates. (3 credit hours.)
        • P: MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 311 or MATH-S 311; and MATH-M 343 or MATH-S 343. Knowledge of a computer language such as FORTRAN, C, C++, etc., is essential for success in this course. Students with other programming backgrounds should consult the instructor. Interpolation and approximation of functions, numerical integration and differentiation, solution of nonlinear equations, acceleration and extrapolation, solution of systems of linear equations, eigenvalue problems, initial and boundary value problems for ordinary differential equations, and computer programs applying these numerical methods. (3 credit hours.)
        • P: MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 311 or MATH-S 311; and MATH-M 343 or MATH-S 343. Knowledge of a computer language such as FORTRAN, C, C++, etc., is essential for success in this course. Students with other programming backgrounds should consult the instructor.. Interpolation and approximation of functions, numerical integration and differentiation, solution of nonlinear equations, acceleration and extrapolation, solution of s of linear equations, eigenvalue problems, initial and boundary value problems for ordinary differential equations, and computer programs applying these numerical methods. (3 credit hours.)
        • One of the following:
          • P: MATH-M 301, MATH-M 303, or MATH-S 303; and MATH-M 311 or MATH-S 311. The meaning of probability. Random experiments, conditional probability, independence. Random variables, expected values and standard deviations, moment generating functions. Important discrete and continuous distributions. Poisson processes. Multivariate distributions, basic limit laws such as the central limit theorem. Credit given for only one of MATH-M 463 or MATH-S 463. (3 credit hours.)
          • P: MATH-S 303 and MATH-S 311; or consent of instructor. Honors version of MATH-M 463. For students of outstanding ability in mathematics. (3 credit hours.)
        • P: MATH-M 463 or MATH-S 463. Conditional distributions and expectation, linear and nonlinear regression; simple stochastic processes: Poisson process, process with independent increments, random walk, Markov chain with finite state space; information theory. (3 credit hours.)
  3. 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.)
    • P: MATH-M 212, MATH-M 213, or MATH-S 212. Elementary concepts of probability and statistics. Combinatorics, conditional probability, independence, random variables, discrete and continuous distributions, moments. Statistical inference, point estimation, confidence intervals, test of hypotheses. Applications to social, behavioral, and natural sciences. Credit given for only one of MATH-M 360 or MATH-M 365. (3 credit hours.)
  4. 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

  • * No more than 3 credit hours of Honors Thesis (ECON-E 499 or MATH-S 499) may be counted toward the major.
  • * It is recommended that students planning to pursue a Ph.D. in economics consult with the Department of Economics concerning classes in the areas of analysis, econometrics, and statistics.
  • * It is recommended that students in actuarial studies consult the "Actuarial Studies" section in Mathematics for recommended coursework and consult with the Department of Mathematics concerning additional relevant coursework.

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 62 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.