BA in Economics
The major in Economics provides students with a firm understanding of core microeconomic and macroeconomic theory while at the same time providing the empirical skills that are essential to applying economic reasoning in our increasingly data-driven world. In addition to rigorous training in both theory and econometrics, students have room in their program to choose electives in economics fitting their likely targets of interest, ranging from financial economics to labor market analysis to development economics, and many more.
- Understand economic theory, both microeconomic and macroeconomic, and be able to apply these models to evaluate policies and real-world events.
- Demonstrate focused expertise in one or more areas of economics.
- Locate the necessary data to analyze and evaluate world events, and analyze data using appropriate econometric methods.
All students entering as freshmen in Fall 2018 and after 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 (or minor) and, in some cases, through co-curricular activities. Students majoring in Economics 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, co-curricular experiences.
Major in Economics:
- CAS EC 101 Introductory Microeconomic Analysis (4 cr)
- CAS EC 102 Introductory Macroeconomic Analysis (4 cr)
- Nine courses with grades of C or higher, four of which must be:
- CAS EC 201 Intermediate Microeconomic Analysis (4 cr)
- CAS EC 202 Intermediate Macroeconomic Analysis (4 cr)
- CAS EC 203 Empirical Economics 1* (4 cr)
- CAS EC 204 Empirical Economics 2 (4 cr)
CAS EC 201, EC 202, EC 203, and EC 204 should be taken before the senior year. Students with a strong background and skills in mathematics may substitute the sequence CAS EC 303/304 (Empirical Analysis 1 & 2) for the required sequence CAS EC 203/204. Students must fulfill the calculus requirement for the major, as described below, prior to enrolling in CAS EC 303.
*QST QM 221 Probabilistic and Statistical Decision Making for Management, or CAS MA 116 (CAS MA 115 is a prerequisite for MA 116), or CAS MA 214 (CAS MA 213 is a prerequisite for MA 214) are acceptable substitutes for CAS EC 203.
- The remaining five 4-credit principal courses are to be chosen from CAS EC 320 through EC 599
- All 500-level and above economics courses are graduate-level courses. Special permission from the instructor is required for undergraduates wishing to take these courses.
- No course taken at another institution after matriculation in the College of Arts & Sciences may normally be transferred toward the principal courses required for completion of the economics major.
- Petitions for approval of transfer courses must be submitted in writing to the Director of Undergraduate Studies in Economics, Professor Todd Idson. Students may get the needed transfer credit request forms from Debbie Kasabian in Room 444 in the Economics Department (270 Bay State Road). A copy of the course syllabus, plus the contents page of the main textbook, must be included with the application.
- Metropolitan College (MET) courses are considered transfer courses. Departmental approval of transfer courses is required.
Required Calculus Course
Students choosing economics as their major are required to demonstrate a proficiency in calculus by completing any of the following with a grade of C or higher: CAS MA 121, 122, 123, 124, 127, or 129 or by achieving at least a 4 on the appropriate calculus Advanced Placement examinations.
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 are strongly urged to 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.