Major Requirements

The department offers two STEM-designated majors, a BA in economics and a BS in financial economics. Below is information on:

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 or ECON 232: Data Methods for Economists (depending on the major)
  • One semester of calculus

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

See the declaring a major page for instructions on declaring your major. Students declaring 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.

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Requirements for a BA in Economics

Pre-major Requirements

One of the following*:

  • MATH 141
  • MATH 161
  • MATH 171

*Additional calculus training is required for all advanced mathematics courses as well as by many majors. Likewise, many graduate degrees require further mathematical training. Students are strongly encouraged to discuss their options with an economics and/or mathematics advisor.

Core

  • ECON 108: Principles of Economics**
  • ECON 207: Intermediate Microeconomics (or ECON 207H)
  • ECON 209: Intermediate Macroeconomics
  • ECON 232: Data Methods for Economists

**ECON 108 cannot be taken after 207.

Electives

Five ECON electives, two of which must come from the pool of acceptable allied-field courses listed below.

Two of the ECON electives must be taken for W credit.

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.

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Requirements for a BS in Financial Economics

Pre-major Requirements

One of the following calculus sequences:

  • MATH 141, 142*
  • MATH 161, 162
  • MATH 171, 172

*Students taking MATH 141 and 142 will also need MATH 143 in order to enroll in advanced mathematics courses.

Major Requirements

Economics Core
  • ECON 108: Principles of Economics**
  • ECON 207: Intermediate Microeconomics (or ECON 207H)
  • ECON 209: Intermediate Macroeconomics
  • ECON 230: Economic Statistics***
  • ECON 231W: Econometrics

**ECON 108 cannot be taken after 207.

***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.

Finance-Accounting Core
  • FIN 205: Financial Management
  • FIN 206: Investments
  • ACC 201: Financial Accounting
  • ECON 211: Money, Credit and Banking
Economics Electives

Three economics electives, one of which must be from the following list:

  • ECON 219: Advanced Macroeconomics
  • ECON 223: Labor Economics
  • ECON 233W: Financial Econometrics
  • ECON 263: Public Finance
  • ECON 268: Globalization
  • ECON 269: International Trade
  • ECON 270: International Macroeconomics
  • ECON 275: Developmental Economics
  • ECON 277: Financial Crises

One of the economics electives must be taken for W credit.

Allied-Field Electives

Two courses from the designated pool of allied-field electives listed below. The two electives are not required to be from the same field.

Finance and accounting:

  • ACC 221: Managerial Accounting
  • ACC 222: Financial Statements
  • FIN 213: Corporate Finance
  • FIN 224: Options, Futures, and Derivatives
  • FIN 242: International Finance
  • FIN 246: Cryptocurrencies, Blockchain, and FinTech

Data and computer science, information systems:

  • CSC 161: Intro Programming (Python)
  • CSC 171: Introduction to Comp. Sc.
  • CSC 242: Artificial Intelligence
  • CSC 246: Machine Learning
  • DSCC 201: Tools for Data Science
  • CSC/DSCC 240: Data Mining
  • CSC/DSCC 261: Database Systems
  • CIS 191: Python and Analytics
  • CIS 211: Modeling with Excel
  • CIS 220: Bus. Info Systems
  • CIS 240: Database Management
  • CIS 242: Predictive Analytics
  • CIS 279: AI and Business Applications

Mathematics and statistics:

  • MATH 201: Probability
  • MATH 202: Stochastic Processes
  • MATH 208: Operations Research
  • MATH 210: Financial Mathematics
  • MATH 233: Math Cryptography
  • STAT 211: Sampling Techniques
  • STAT 223: Bayesian Inference

Political science, other:

  • PSCI 238: Business and Politics
  • PSCI 244: Politics and Markets
  • PSCI 247: Green Markets
  • LAW 205: Business Law

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General Requirements

Calculus Requirement

Students should fulfill their math requirement as early as possible.

Students considering additional majors or 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 URochester calculus offerings.

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.

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.

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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.

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