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 (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)
Lower Level Electives
- 01:220:300 International Economics (3)
- 01:220:301 Money, Banking and the Financial System (3)
- 01:220:305 American Economic History (3)
- 01:220:307 Economics of Globalization: A Historical Perspective (3)
- 01:220:312 Sports Economics (3)
- 01:220:331 Economics of Crime (3)
- 01:220:334 Energy Economics (3)
- 01:220:389 Public Policies toward Business (3)
- 01:220:395 Law and Economics (3)
- 14:540:343 Engineering Economics (3)
- 33:010:272 Introduction to Financial Accounting (3)
- 33:010:275 Introduction to Managerial Accounting (3)
Upper Level Electives
- 01:220:402 Labor Economics (3)
- 01:220:410 Advanced Macroeconomic Theory (3)
- 01:220:411 Global Financial Crises (3)
- 01:220:412 Monetary Theory and Policy (3)
- 01:220:413 Financial Economics (3)
- 01:220:414 Economics of Capital Markets (3)
- 01:220:415 Portfolio Theory (3)
- 01:220:420 Computational Methods for Research in Economics (3)
- 01:220:421 Economic Forecasting and Big Data (3)
- 01:220:422 Advanced Econometrics for Microeconomic Data (3)
- 01:220:423 Advanced Time Series and Financial Econometrics (3)
- 01:220:424 Machine Learning for Economics (3)
- 01:220:432 Environmental Economics (3)
- 01:220:433 Health Economics (3)
- 01:220:435 International Trade (3)
- 01:220:436 International Finance and Macroeconomics (3)
- 01:220:438 Education Economics (3)
- 01:220:439 Economic Development (3)
- 01:220:441 Industrial Organization (3)
- 01:220:443 European Economic History (3)
- 01:220:444 Financial and Monetary History of the United States (3)
- 01:220:460 Public Economics (3)
- 01:220:463 Economics of Taxation (3)
- 01:220:464 Personal Economics and Public Policy (3)
- 01:220:475 Women, Men, and the Economy (3)
- 01:220:477 Economics of Population (3)
- 01:220:480 Behavioral and Experimental Economics (3)
- 01:220:481 Economics of Uncertainty (3)
- 01:220:482 Game Theory and Economics (3)
- 01:220:483 Markets, Games and Information (3)
- 01:220:484 Market Discipline (3)
- 01:220:485 Advanced Microeconomic Theory (3)
- 01:220:488 Networks and Complexity in Economics (3)
- 01:220:489 Advanced Topics in Economic Theory (3)