Major Requirements

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

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 (01:220:320), Intermediate Macroeconomics (01:220:321) and/or Econometrics (01:220:322), 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.

The following electives are regularly offered (usually at least once a year, often every semester)