BA in Economics & Mathematics

Mathematics and statistics are key tools in many aspects of economics. The joint major in Economics & Mathematics aims to provide foundational skills in both subjects while focusing course selection on both subjects’ common goals. The major is appropriate for economics students with interest in the mathematical techniques and for mathematics students interested in applications in economics. The major provides credentials in both subjects, leaving room for elective credits for students with other interests.

Learning Outcomes

  • Demonstrate a systematic understanding of the theoretical and mathematical structure of economic models, both in deterministic and stochastic settings, and develop the capacity to engage in the economic modeling of real-world events and economic policy.
  • Develop competencies in calculus, linear algebra, probability, and statistical techniques to enable an understanding of advanced microeconomic and macroeconomic theories as well as one or more areas of economic analysis. Locate the necessary data to test economic hypotheses and evaluate world events, using appropriate statistical tools.
  • Apply an understanding of multivariate econometrics, economic forecasting, choice under uncertainty, and programmatic policy evaluation to practical economic problems such as individual decisionmaking, government policy, cost-benefit analysis, and business economics in the context of understanding the behavior of firms.

Requirements

All first-year, first-time students and undergraduate transfer students who began their studies in fall 2020 or later will pursue coursework in the BU Hub, a general education program that is integrated into the entire undergraduate experience. BU Hub requirements are flexible and can be satisfied in many different ways, through coursework in and beyond the major and, in some cases, through cocurricular activities. Students majoring in Economics & Mathematics will ordinarily, through coursework in the major, satisfy BU Hub requirements in Social Inquiry, Quantitative Reasoning, and some of the Intellectual Toolkit. Remaining BU Hub requirements will be satisfied by selecting from a wide range of available courses outside the major or, in some cases, cocurricular experiences.

The joint major requires 4 prerequisites plus 16 principal courses, as outlined below.

Prerequisites

  • CAS MA 123 and 124 Calculus I & II (4 cr each), or 129, or equivalent
  • CAS EC 101 Introductory Microeconomic Analysis (4 cr) and EC 102 Introductory Macroeconomic Analysis (4 cr)

Principal Courses

A minimum of nine additional economics courses and a minimum of seven additional mathematics courses, all completed with a grade of C or higher and distributed as follows:

Economics

  • CAS EC 201 Intermediate Microeconomic Analysis (4 cr)
  • CAS EC 202 Intermediate Macroeconomic Analysis (4 cr)
  • CAS EC 303 Empirical Economic Analysis 1 (4 cr), or MA 213 Basic Statistics and Probability (4 cr)
  • CAS EC 304 Empirical Economic Analysis 2 (4 cr)
  • CAS EC 501 Microeconomic Theory (4 cr)
  • CAS EC 502 Macroeconomic Theory (4 cr)
  • Electives: three other 4-credit courses selected from CAS EC 320 through EC 599

Mathematics (and Computer Science)

  • CAS CS 111 Introduction to Computer Science 1 (4 cr)
  • CAS MA 225 Multivariate Calculus (4 cr) or MA 230 Honors-Level Vector Calculus (4 cr)
  • CAS MA 242 Linear Algebra (4 cr) or MA 442 Honors-Level Linear Algebra (4 cr)
  • CAS MA 569 Optimization Methods of Operations Research (4 cr)
  • Electives: three other 4-credit courses selected from CAS MA 226 or 231, MA 415, MA 416, MA 433, MA 511, MA 512, MA 581, MA 582, MA 583, MA 584, MA 585, CAS CS 112

Honors in the Major

Students may earn the distinction of departmental Honors in the Major by achieving a 3.5 or greater GPA in their economics courses (including required mathematics and statistics classes) and successfully completing the two-semester honors thesis classes CAS EC 401 and EC 402 (students may count these classes as fulfilling two of the required five electives in the major). The CAS EC 401/402 sequence culminates in a thesis (written under the supervision of an economics department faculty member) and oral defense of the thesis before a committee of three faculty in April. Students must complete CAS EC 204 or EC 304 before enrolling in CAS EC 401. Qualified students who are interested in writing a thesis should contact Professor Todd Idson, director of undergraduate studies in the economics department, no later than the second semester of their junior year, and if approved will be directly registered in CAS EC 401 by the Department of Economics staff.