Undergraduate Program

Undergraduate Program

Minor in Quantitative Economics

The minor in Quantitative Economics is oriented to students in quantitative majors (e.g., Mathematics, Engineering, Finance, Statistics, Computer Science, etc.), with the intent to provide such students access to upper level electives in economics and Certificate Programs in economics that are ordinarily only available to Economics majors.  The minor consists of the full core of the economics major plus one elective.  Students complete Introduction to Microeconomics and Macroeconomics (01:220:102 and 103), the intermediate core courses in Microeconomics, Macroeconomics and Econometrics (01:220:320, 321 and 322), and one upper level elective from a list of quantitatively-oriented electives (see below).  A grade of C or better is required for all five required courses.  A single D is allowed in an upper level elective.  Students completing the minor in Quantitative Economics are eligible to complete any of the Certificates in Economics, subject to the rules of those certificates. Prerequisites to complete the minor include Calculus I and II (01:640:135-136 or 01:640:151-152) and Statistics for Business (01:960:285 or equivalent). 

Upper level electives for the Quantitative Economics Minor (one is required for the minor).  Completion of the five required courses and prerequisites mentioned above will satisfy the prerequisites for any of these courses:

01:220:410 Advanced Macroeconomic Theory

01:220:422 Advanced Cross-Sectional and Panel Econometrics (formerly 401)

01:220:423 Advanced Time Series and Financial Economics (formerly 400)

01:220:480 Behavioral and Experimental Economics

01:220:481 Economics of Uncertainty

01:220:482 Game Theory and Economics

01:220:483 Markets, Games and Information

01:220:484 Market Discipline

01:220:485 Advanced Microeconomic Theory

01:220:488 Networks and Complexity in Economics (new course under review spring 2020)

Certificate Programs in Economics (the elective above can be selected to be part of a certificate program).  Details on each of the Certificates are available elsewhere in the catalog:

Certificate in Economic Theory

Certificate in Computational Economics and Data Analytics

Certificate in Financial Economics

Certificate in Global Economics

Certificate in Public Policy Economics

Certificate in Computational Economics and Data Analytics:  This concentration provides students with a deep background in advanced tools for analysis of economic data, including traditional regression methods commonly used in economics, as well as more computationally intensive methods, such as machine learning.  Students completing this certificate will be well-prepared for positions in a wide range of business and government organizations where high through-put analysis of incoming data is valued.  The certificate is also an excellent preparation for graduate study in economics or decision sciences, particularly for areas where computational modeling of economic decision making and analysis of data from decision making is the focus.  Students can choose from advanced econometrics and theory courses in economics.    Students planning to pursue this certificate should have a strong aptitude and interest in both econometrics and economic theory, and are recommended to complete econometrics (01:220:322) and calculus II (01:640:136 or 152) as early as possible.  As for all of the certificate programs in economics, a total of four courses, each with a grade of B or better, are required, as well as an overall g.p.a. of at least 3.0.  This certificate may be completed either through selection of appropriate electives, as part of the Major in Economics, or by completing three additional courses beyond those required for the Minor in Quantitative Economics. 


01:220:420 Computational Methods for Research in Economics

Data Methods electives (at least one from this list):

01:220:421 Economic Forecasting and Big Data

01:220:422 Advanced Cross-Sectional and Panel Econometrics (formerly 401)

01:220:423 Advanced Time Series and Financial Economics (formerly 400)

01:220:424 Advanced Analytics for Economic Data

Economic Theory electives (at least one from this list):

01:220:410 Advanced Macroeconomic Theory

01:220:480 Behavioral and Experimental Economics

01:220:481 Economics of Uncertainty

01:220:482 Game Theory and Economics

01:220:483 Games, Markets and Information

01:220:485 Advanced Microeconomic Theory

01:220:488 Networks and Complexity in Economics (new course under review in Spring 2020)

Faculty Advisor for the Certificate in Computational Economics and Data Analytics: Barry Sopher

This link will open a new tab for an outside webpage (for the Rutgers Department of Political Science) for all the details about this new certificate program. To return to the Economics Certificates page, just close this new tab when you are finished, or click on the tab for the Economics Certificate page you are currently on.

Minor in Philosophy, Politics and Economics

“4+1” Programs for Economics Students

The Certificate Programs in economics are a natural path to a number of “4+1” programs within Rutgers University, whereby well-prepared students can receive some credit towards a master’s degree during their senior year, and then complete a master’s degree with one more year of coursework. The Certificate in Economic Theory and the Certificate in Quantitative Economics are particularly well-suited to this purpose, as they include more emphasis on mathematics and statistics as part of the program. The other Certificate programs in economics, or the Economics Major without a Certificate, are also fine, provided students are prepared to do the additional mathematics courses (a second semester of calculus, at a minimum) that most of these programs entail. Links to the different programs we recommend are listed below. Contact the advisors for the specific programs, or the This email address is being protected from spambots. You need JavaScript enabled to view it.in Economics, for more information. Although we are referring to these as “4+1” programs, the different programs may use different terminology. But it is possible in all of these programs to complete a BA in 4 years and then a master’s degree in one more year, with appropriate planning and preparation.

MBS in Data Analytics 4+1: Students should contact Professor Deborah Silver with questions about the “4+1” version of the program. This program is run by the Master of Business and Science programs in the Graduate School-New Brunswick.


MS in Mathematical Finance 4+1: Contact Professor Paul Feehan with questions. This program is run by the Department of Mathematics in New Brunswick.


MBA in Professional Accounting 4+1: Contact the Graduate Admissions Office of the Rutgers Business School for more information:


Revised 4/2020

Students who registered online for the CQE prior to 8/1/2018 will have the option of following the previous CQE requirements

The Certificate in Quantitative Economics (CQE) is awarded to students who complete the demanding course requirements in economics, statistics, mathematics, and computer science, as well as demonstrating familiarity with important quantitative computer tools. It is open to students in any major, but will be most readily completed by those majoring in economics with a minor or double major in mathematics, statistics, computer science, or mathematical statistics.

Students who have completed the CQE will have developed skills necessary for graduate programs in economics, statistics, business administration, finance, and quantitative finance, among others, as well as for positions in consulting, investment banking, actuarial science, financial operations and more.

The certificate is awarded at the end of the spring semester for graduating students, and is entered on the student’s official transcript. It is also a valuable entry on resumes.

Students wishing to pursue the certificate must have at least a 3.0 overall gpa and must maintain a 3.0 average in the courses required for the certificate. Students should complete the online application form when starting the certificate and meet with the CQE advisor. In their last semester at Rutgers, they will meet with the advisor to certify completion of all requirements.

Note that many of the required courses have prerequisites and thus the program should be started early and students must plan their schedules carefully to satisfy all requirements.

Equivalent transfer courses for any of the requirements, accepted by the appropriate department, will be accepted for the CQE.

In well-justified circumstance, the CQE advisor can allow substitution of comparable courses for up to two of the required courses.

REQUIRED COURSES AND PROFICIENCIES in economics, mathematics, statistics, computer science, and quantitative tools.

All four of the following:
01:220:102 Introduction to Microeconomics
01:220:103 Introduction to Macroeconomics
01:220:320 Intermediate Microeconomics
01:220:322 Econometrics

And two advanced courses from the following

        At least one from:
01:220:421 Economic Forecasting and Big Data*
01:220:422 Advanced Cross-sectional and Panel Econometrics* (formerly 401)
01:220:423 Advanced Time Series and Financial Econometrics* (formerly 400)

        If needed, the other from:
01:220:420 Computational Economics
01:220:481 Economics of Uncertainty
01:220:482 Game Theory and Economics
01:220:483 Markets, Games and Information
01:220:485 Advanced Microeconomic Theory
01:640:485 Introduction to Mathematical Finance

MATHEMATICS (640) – 4 courses
151,152 Calculus for Mathematical and Physical Sciences OR 191,192 Honors Calculus or equivalent;
            Note: 135 will be accepted in place of 151 but 01:640:136 does not satisfy the prerequisites for 01:640:251
01:640:250 Linear Algebra
01:640:251 Multivariable Calculus  (or 640:291 Honors Multivariable Calculus)

STATISTICS  (960 or 640) – 2 courses
01:960:381 Theory of Probability
01:960:382 Theory of Statistics
            NOTES: Mathematical Theory of Probability (01:640:477) and Theory of Statistics (01:640:481) can substitute for 381, 382– students considering a major or minor in math should normally take these courses.

           The two-course sequence (01:960:381-382 or 01:640:477,481) can substitute for the economics statistics requirement (285) 

COMPUTER SCIENCE (198) – 2 courses
01:198:111 Introduction to Computer Science
01:198:112 Data Structures

To earn the CQE, students must demonstrate advanced proficiency with Excel (pivot tables, macros) and at least basic proficiency in each of the following quantitative application areas (there can be overlaps). This can be demonstrated through a completed course which required use of the tool, through a research project employing the tool, or by other means in consultation with the CQE advisor.

  • programming language (python, java, other)
  • statistical package (R, SAS, Gauss, Eviews, other)
  • graphics or analytics package (tableau, other)
  • database (SQL,other)

01:198:142 Data 101: Data Literacy R  (also offered as 01:198:143 – hybrid version)
01:198:170 Computer Application for Business
01:960:390 Introductory Computing for Statistics (1 credit course teaching SAS)
01:960:486 Computing and Graphics in Applied Statistics 

Undergraduate Course Descriptions
Electives that Only Count Towards the Economics Minor

Note: the combination of 01:220:210 and 01:220:211, each of which is a 1.5 credit course, may be used to count for one of the four electives in the economics minor. Students who are able to satisfy the prerequisite for 01:220:211 with an appropriate statistics course do not need to take 01:220:210 (but are encouraged to do so), but in either case will also satisfy one of the four electives for the economics minor by completing 01:220:211.

Upper Level Electives

(Note that as of Fall 2016 all upper level electives have 400-level numbers. Credit will still be given for upper level electives taken prior to Fall 2016 that had a 300-level number. Several upper level electives that were previously 400-level have also been given new, also 400-level, numbers. In either case, credit will only be given for either the course with the pre-Fall 2016 number or the course with the new number. Specifics are noted for each course individually whose number has changed. A full concordance of all courses whose numbers have changed, with the old and new number, is available here .)

Undergraduate Junior Awards


2021 Award Winners and Honors Designations


Undergraduate Awards


2021 Award Winners and Honors Designations