## Major Requirements

The department offers two STEM-designated majors—economics and financial economics. Below is information on:

- Declaring an economics or financial economics major
- BA in economics requirements
- BA in economics with honors requirements
- BA in financial economics requirements
- BA in financial economics with honors requirements
- General requirements
- Graduate courses

### Declaring an Economics or Financial Economics Major

Students must achieve a grade point average of C or better in at least three of the following courses:

- ECON 108: Principles of Economics
- ECON 207: Intermediate Microeconomics
- ECON 209: Intermediate Macroeconomics
- ECON 230: Economic Statistics
- One semester of calculus

For students placing out of any of the above courses, suitable adjustment will be made. Courses taken for pass/fail credit will not provide concentration credit.

To delare a major see the following link. Students delaring a major in person should bring their unofficial transcript (from my.rochester.edu) with them.

The following overlap policies pertain to majors, double majors, minors, and clusters:

- No more than three courses between a major and a separate/double major.
- No more than two courses between a minor and a major.
- No more than one course between a cluster and a major or a minor.
- The calculus requirement and Econ 230 are exempt from the overlap rule.

### Requirements for a BA in Economics

ECON 108: Principles of Economics*

ECON 207: Intermediate Microeconomics**

ECON 209: Intermediate Macroeconomics**

ECON 230: Economic Statistics***

ECON 231W: Econometrics

Four economics electives

Two allied field courses

Calculus requirement

Upper-level writing requirement (two of the above courses must be taken for W credit)

*ECON 108 cannot be taken after 207

**Honors equivalent can be taken for ECON 207 and ECON 209

***The following can be used to substitute for ECON 230: STAT 190: Elements of Probability, Math Statistics, MATH 203: Introduction to Mathematical Statistics, or DSCC 262 Computational Introduction to Statistics. Students who have taken non-substitutable statistics courses can take an exam to establish STAT 190 competency. See the Program in Statistics if you are interested in meeting the requirements in this way.

### Requirements for a BA in Economics with Honors

Students seeking an enriched curriculum can pursue a BA with honors. The honors program requires additional coursework, as well as enrollment in "Honors" designated courses. Honors graduates will also write a research paper in Senior Seminar.

ECON 108: Principles of Economics*

ECON 207H: Intermediate Microeconomics (Honors)**

ECON 208: Topics in Microeconomic Theory

ECON 209: Intermediate Macroeconomics

ECON 219: Advanced Macroeconomics

ECON 230: Economic Statistics***

ECON 231W: Econometrics

ECON 389W: Senior Seminar or ECON 289W: Economic Research and Communication

Three economics electives

Two allied field courses

Calculus requirement

Upper-level writing requirement (two of the above courses must be taken for W credit)

*ECON 108 cannot be taken after 207

**Students who have completed ECON 207 may still elect to pursue a BA with honors. These students are required to take ECON 207H as an elective or successfully petition the Department to take an alternative elective to ECON 207H. A graduate-level course taught in the Department is an example of a clearly acceptable alternative.

***The following can be used to substitute for ECON 230: STAT 190: Elements of Probability, Math Statistics, MATH 203: Introduction to Mathematical Statistics, or DSCC 262 Computational Introduction to Statistics. Students who have taken non-substitutable statistics courses can take an exam to establish STAT 190 competency. See the Statistics Department if you are interested in meeting the requirements in this way.

An average grade in ECON 207H, 208, 209, 219, 389W must be at least 3.3. An average grade in all ECON courses taken must be at least 3.0.

### Requirements for a BA in Financial Economics

ECON 108: Principles of Economics*

ECON 207: Intermediate Microeconomics**

ECON 209: Intermediate Macroeconomics**

ECON 230: Economic Statistics***

ECON 231W: Econometrics

FIN 205 : Financial Management****

FIN 206 : Investments

MATH 210: Introduction to Financial Mathematics *****

ACC 201: Financial Accounting

ACC 221: Managerial Accounting

Three economics electives. Suggested electives are: ECON 211, ECON 217, ECON 232, ECON 233, ECON 263, ECON 268, ECON 270, ECON 271, ECON 274, ECON 277.

Calculus requirement

Upper-level writing requirement (two of the above courses must be taken for W credit).

*ECON 108 cannot be taken after 207

**Honors equivalent can be taken for ECON 207 and ECON 209

***The following can be used to substitute for ECON 230: STAT 190: Elements of Probability, Math Statistics, MATH 203: Introduction to Mathematical Statistics, or DSCC 262 Computational Introduction to Statistics. Students who have taken non-substitutable statistics courses can take an exam to establish STAT 190 competency. See the Statistics Department if you are interested in meeting the requirements in this way.

****Fin 205 and Fin 206 are prerequisites for Mth 210. Math majors may take Mth 210 either before, after or concurrently with Fin 206

*****Honors equivalent can be taken for MATH 210

FIN 204 cannot be used for the completion of this degree.

### Requirements for a BA in Financial Economics with Honors

ECON 108: Principles of Economics*

ECON 207H: Intermediate Microeconomics (Honors)**

ECON 208: Topics in Microeconomic Theory

ECON 209: Intermediate Macroeconomics

ECON 219: Advanced Macroeconomics

ECON 230: Economic Statistics***

ECON 231W: Econometrics

ECON 389W: Senior Seminar or ECON 289W: Economic Research and Communication

FIN 205 : Financial Management*

FIN 206: Investments

MATH 210: Introduction to Financial Mathematics*****

ACC 201: Financial Accounting

ACC 221: Managerial Accounting

Two economics electives. Suggested electives are: ECON 211, ECON 217, ECON 232, ECON 233, ECON 263, ECON 268, ECON 270, ECON 271, ECON 274, ECON 277.

Calculus requirement

Upper-level writing requirement (two of the above courses must be taken for W credit)

*ECON 108 cannot be taken after 207

**Students who have completed ECON 207 may still elect to pursue a BA with honors. These students are required to take ECON 207H as an elective or successfully petition the Department to take an alternative elective to ECON 207H. A graduate-level course taught in the Department is an example of a clearly acceptable alternative.

***The following can be used to substitute for ECON 230: STAT 190: Elements of Probability, Math Statistics, MATH 203: Introduction to Mathematical Statistics, or DSCC 262 Computational Introduction to Statistics. Students who have taken non-substitutable statistics courses can take an exam to establish STAT 190 competency. See the Statistics Department if you are interested in meeting the requirements in this way.

****Fin 205 and Fin 206 are prerequisites for Mth 210. Math majors may take Mth 210 either before, after or concurrently with Fin 206

*****Honors equivalent can be taken for MATH 210

An average grade in ECON 207H, 208, 209, 219, 389W must be at least 3.3. An average grade in all ECON courses taken must be at least 3.0.

### General Requirements

#### Calculus Requirement

Students are required to complete one of the following calculus sequences:

- MATH 141, MATH 142 and MATH 143
- MATH 161 and MATH 162
- MATH 171 and MATH 172

Students should fulfill their math requirement as early as possible.

Students considering graduate work in economics should plan additional training.

Students can substitute transfer courses if the Department of Mathematics determines that the transfer course is comparable to UR calculus offerings.

#### Statistics Requirement

The following can be used to substitute for ECON 230: STAT 190: Elements of Probability, Math Statistics, MATH 203: Introduction to Mathematical Statistics, or DSCC 262 Computational Introduction to Statistics. Students who have taken non-substitutable statistics courses can take an exam to establish STAT 190 competency. See the Statistics Department if you are interested in meeting the requirements in this way.

#### Elective Economics Courses

Most economic courses will meet this requirement. Please read through the exceptions and guidelines below to learn more:

- Courses cannot be taken pass/fail or S/F.
- ECON 394: Internship and ECON 230: Economic Statistics cannot be counted as electives.
- Economics courses at other institutions must have a minimum prerequisite of introductory microeconomics or introductory macroeconomics to receive transfer credit for the major.
- The only Simon School courses that can be used as economics electives are those Simon School courses that are cross-listed as economics (ECON) courses, FIN 205, and FIN 206.
- ECON 390 can be used once as an elective course.
- Eight credit courses count as one elective.
- Graduate economics classes (400-level courses and above) count as electives. You must obtain permission from the instructor to take a graduate-level course.
- If you do not get credit for ECON 108, then you must take an additional 200-level course in its place.
- Students enrolled in the
**Simon School 3-2 Program**may use up to two economics-based, graduate-level Simon courses to fulfill their concentration requirements.

#### Allied Field Courses

Students are required to complete two 200-level (or above) courses in the same allied field. Courses that can be counted as ECON electives may **not** be used as allied field courses.

Acceptable Allied Fields:

- Computer science
- Data science
- Environmental Science or Environmental Studies
- Health Policy
- History
- Mathematics or Applied Mathematics (beyond the first year of calculus)
- Political science
- Psychology
- Statistics*
- Undergraduate Business Program courses (FIN 204/FIN 205/FIN 206
**cannot**be used as allied field courses)

Students may use two courses from different allied fields that have a coherent connection to each other and to the study of economics. Students must petition the department for approval of the courses.

*Statistics courses that are required for economics concentration, or that overlap with ECON 231, do not count toward the allied-field requirement.

#### Transfer Credit

Students who entered the University of Rochester as freshmen can transfer at most one core course and at most two electives. (Allied-field courses count as "electives" for the sake of this requirement.) Students transferring with sophomore status can transfer up to any 3 courses. For students transferring with junior status and above, a minimum of five economics courses must be taken at University of Rochester. Students seeking transfer credit approvals should contact the designated faculty advisor according to the first letter of their last name.

- Students requesting transfer credit should obtain the catalogue, and the course descriptions or syllabus of the course they plan to take.
- Economics courses at other institutions can transfer for elective credit only if they have a prerequisite of principles of economics.
- The department does not grant transfer credit for online courses from other universities. A student can use an online course from the University of Rochester.
- Washington Semester and British Politics Semester do not provide concentration credit in economics. However, economics courses taken in conjunction with these courses can provide transfer credit. Washington Semester and British Politics Semester may count as allied field courses.
- Summer courses offered by the University of Rochester do not require transfer credit approval.
- Transfer credit for ECON 108 requires a course (or courses) that covers the principles of both microeconomics and macroeconomics.
- Students passing the Cambridge International Economics curriculum at the A level can receive credit for ECON 108.
- AP credit will be awarded for ECON 108 for students who receive a 4 or higher on the microeconomics portion and a 3 or higher on the macroeconomics portion.
- For students who have taken International Baccalaureate degrees and who have taken the economics test:
- A grade of 4 can be placed into ECON 207 without credit for ECON 108.
- A grade of 5 or more will receive credit for ECON 108 and can be placed into ECON 207.

- ECON 230 is preferred. Alternatively, students can use STAT 190, MATH 203, DSCC 262. Students with AP credit, transfer credit, or STAT 211 or STAT 212 credit can be awarded STAT 190 by taking a placement exam offered by the Program in Statistics.
- Students seeking transfer credit approvals should contact the designated faculty advisor according to the first letter of their last name.

#### Upper Level Writing Requirement

Students must complete two "W" courses offered by the Department of Economics. Normally, one of these will be ECON 231W. Independent study and internship courses can be taken for W credit with permission of the instructor.

#### Graduate Courses

Well prepared students are encouraged to take graduate courses offered by the Department of Economics. These courses require permission of the instructor and each course counts as one course toward the concentration.

Students considering graduate training in economics are encouraged to speak to a faculty advisor.