Economics is the science of how things get decided, for individuals, for families, for organizations, for businesses, and for society as a whole. It’s about work, education, production, leisure and happiness. It’s about who does what, who gets paid, and how much. It’s about business, but it’s about much more than just business.
The Major in Economics involves core courses in microeconomic theory, macroeconomic theory and econometrics, supplemented by a wide range of elective courses across many topic areas. There is a strong emphasis on modern quantitative methods of data analysis paired with rigorous theoretical modelling. Students can concentrate their studies in a variety of Certificate Programs, and qualified students can do independent research projects as an honors thesis project.
Specific Requirements for the Major in Economics
Introduction to Microeconomics (01:220:102) and Introduction to Macroeconomics (01:220:103), both with a grade of C or better.
Intermediate Microeconomic Analysis (01:220:320) and Intermediate Macroeconomic Analysis (01:220:321). These courses have the introductory courses and Calculus I (01:640:135 or 151), all with a grade of C or better, as prerequisites.
Econometrics (01:220:322). This course has the introductory courses, Calculus I, and Statistics (01:960:285 or 01:960:211), all with a grade of C or better, as prerequisites.
Seven (7) electives complete the major. There are two types of electives, lower-level and upper-level. Lower level electives generally have only Introductory Economics (102 and 103) as prerequisites. The signature course, Inequality (01:220:120) has no prerequisites, but will count as a lower level elective. Other lower level electives are 300-level courses. Upper level electives have some combination of Intermediate Microeconomics (320), Intermediate Macroeconomics (321) and/or Econometrics (322), all with a grade of C or better, as prerequisites, and sometimes Calculus II (01:640:136 or 152) as a prerequisite as well. Upper level electives are 400-level courses. Students must complete at least four (4) upper level electives, and no more than three (3) lower level electives may count towards completing the major. One grade of D is allowed in the electives.
Policy on Courses from RU-Newark and RU-Camden:
Students cannot use Intermediate Microeconomics, Intermediate Macroeconomics, or Econometrics from Rutgers in Newark or Camden towards the SAS Economics Major, unless the courses were taken in Spring 2011 or earlier.
Lower Level Electives
The following lower level electives are regularly offered (at least once a year, often every semester)
01:220:300 International Economics
01:220:301 Money, Banking and the Financial System
01:220:303: Labor Markets and Institutions
01:220:305 American Economic History
01:220:307 Economics of Globalization
01:220:311 Methods of Cost-Benefit Analysis
01:220:312 Sports Economics
01:220:331 Economics of Crime
01:220:334 Energy Economics
01:220:389 Public Policy towards Business
01:220:395 Law and Economics
Upper Level Electives
The following upper level electives are regularly offered (generally at least once a year, sometimes every semester)
01:220:400 Advanced Time Series and Financial Economics
01:220:401 Advanced Cross-Sectional and Panel Econometrics
01:220:410 Advanced Macroeconomic Theory
01:220:411 Global Financial Crises
01:220:412 Monetary Theory and Policy
01:220:413 Financial Economics
01:220:414 Economics of Capital Markets
01:220:415 Portfolio Theory
01:220:417 Health Economics
01:220:420 Computational Methods for Research in Economics
01:220:421 Economic Forecasting and Big Data
01:220:424 Advanced Analytics for Economics
01:220:432 Environmental Economics
01:220:435 International Trade
01:220:436 International Macroeconomics and Finance
01:220:438 Education Economics
01:220:439 Economic Development
01:220:441 Industrial Organization
01:220:443 European Economic History
01:220:444 Financial and Monetary History of the United States
01:220:460 Public Economics
01:220:463 Economics of Taxation
01:220:464 Personal Economics and Public Policy
01:220:475 Women, Men and the Economy
01:220:477 Economics of Population
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
01:220:489 Topics in Advanced Economic Theory
For information on declaring your major My Major/Minor