Economics is both a social science discipline and a decision framework for analyzing production, consumption, distribution, and efficiency. The goal of the undergraduate curriculum is to offer students the theoretical background necessary to understand policy and business issues, as well as the quantitative and analytical skills necessary to evaluate these issues independently. Courses offered by the Department of Economics provide students with an understanding of the principles of microeconomic and macroeconomic topics such as unemployment, inflation, income distribution, price determination, consumer choice theory, profit maximization, and market structure. The principles of economics are applied to a wide range of topics in the curriculum such as economic development, environmental issues, poverty, urban and regional development, international trade, labor issues, and economic history.
Graduates with a background in economics are solidly prepared for employment in the private, public, and non-profit sectors, or for advanced studies in law, economics or business. The economics major in the College of Liberal Arts can be combined with the study of other disciplines such as political science, math or modern language. The department also offers an undergraduate major in economics through the Driehaus College of Business.FOR STUDENTS WHO DECLARED THEIR MAJOR PRIOR TO FALL 2009, CLICK HERE.
Departmental Program Requirements
For students who declared their major in Fall 2009 or later:
Economics: ECO 105 Principles of Microeconomics; ECO 106 Principles of Macroeconomics; ECO 305 Intermediate Microeconomics; ECO 306 Intermediate Macroeconomics; and six additional Economics courses.
ECO 395: The Capstone Seminar in Economics may not be used as an Economics Elective.
Mathematics: MAT 135 Business Calculus I; MAT 136 Business Calculus II; MAT 137 Business Statistics (or an equivalent statistics course approved by an Economics advisor). MAT 150 and MAT 151 may be substituted for MAT 135 & MAT 136.
Degree Conferral Requirements: All ECO courses and any courses used toward the ECO major must be completed with a minimum grade of C-. All ECO courses and any courses used toward the ECO major must equal a minimum grade point average of 2.0 when combined.
Curricular Specializations: The six Economics electives should be selected from the following. The department offers three recommendations for students who would like to focus their studies on one area of expertise. These areas are optional; no curricular specialization is required for the major.
Public Policy and Pre-Law
- ECO 316 European Economic History
- ECO 330 Economics of Socialism
- ECO 333 Topics in Global Economics
- ECO 334 Understanding China's Economy
- ECO 340 Development of Economic Thought
- ECO 360 Economics of Low-Income Countries
- ECO 361 International Trade
- ECO 362 International Monetary Economics
- ECO 398 Comparative Economic Systems
- ECO 310 Urban Economics
- ECO 312 The Chicago Economy
- ECO 313 Economics of Regulation & Antitrust Laws
- ECO 314 Economics of the Public Sector
- ECO 315 Introduction to Money & Banking
- ECO 317 American Economic History
- ECO 318 Labor Economics and Organization
- ECO 319 Economics and Gender
- ECO 320 Economics of Religion
- ECO 335 Energy & Environmental Economics
- ECO 398 Law and Economics
Students are encouraged to use their open electives to minor or double major in a complementary field of study. A student’s specific interest in economics will dictate the best choice of a minor or double major.
- ECO 375 Introduction to Econometrics
- ECO 380 Mathematical Economics
- Once these two courses are completed, a second course in
Econometrics (ECO 576) or a course in Business & Economic
Forecasting (ECO 511) may be taken from the Graduate School
via ECO 399 Independent Study.
Former Departmental Program RequirementsFor students who declared their major prior to Fall 2009:Major
- Economics 105 Principles of Microeconomics
- Economics 106 Principles of Macroeconomics
- Economics 305 Intermediate Microeconomics
- Economics 306 Intermediate Macroeconomics
- MAT 242 or BMS 142 or equivalent statistics course
- Six 300-level Economics Electives
Allied Field Requirements:
- MAT 130
- MAT 131 / BMS 125
- MAT 150 / BMS 126
- Seven courses in allied fields such as Anthropology, Geography, International Studies, Public Policy Studies, Political Science, Psychology, Sociology, or Math.
The student's eligibility for candidacy is based upon the following criteria:
- Economics GPA of 2.0 or above in all Economics courses
- A cumulative GPA of 2.0 in all academic work
For complete information, visit Undergraduate Programs