University of Minnesota
University of Minnesota
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Undergraduate Studies


 

The Majors

The Department offers three options to undergraduates majoring in Economics:

B.A. - Bachelor of Arts degree
B.A. - Bachelor of Arts-Quantitative Emphasis degree
B.S. - Bachelor of Science Degree

The B.S. degree is the most quantitative and the B.A. degree is the least quantitative in orientation. The B.A.- Quantitative Emphasis and B.S. degrees stress particular supporting quantitative skills (calculus, linear algebra, and econometrics).

Some advice in choosing your economics degree:

The best way to decide among the various Economics options is to consider two factors.

  1. Your interest and aptitude in quantitative areas such as mathematics and statistics.
  2. Your long-term academic and career goals.

Students who are interested in mathematics and have strong grades in quantitative courses will typically find the B.S. more attractive. Students with less interest, or lower grades, in quantitative classes will find one of the B.A.’s more appealing.

The B.A. Major is intended to give the student a solid background in Economics. It is the least quantitative of our three majors, and offers considerable freedom in course selection. Students who prefer a less quantitatively stringent program than an Economics major may be interested in the BIS degree, through which a 15-credit concentration in Economics Department courses may be combined with courses in two other areas of concentration.

The B.A. option provides excellent preparation for students interested in working immediately after graduation or considering Law School. Students interested in graduate level study in Economics should consider one of the other two degrees.

The B.A. - Quantitative Emphasis Major adds basic quantitative training (in calculus, linear algebra, and econometrics) to a student’s Economics program. This major should be especially attractive to those students considering graduate work in business administration.

The B.S. Major is designed specifically for students interested in graduate study of Economics or a career in which quantitative economic analysis plays a significant role. The major’s strong quantitative component stresses multivariate calculus, linear algebra, and econometrics -- essential in Economics graduate training. Please note that students do not have to be in the Honors Degree Program in order to enroll in the Honors section of a class.

You can sign up for an ECONOMICS major after you have completed the preparatory courses and have received grades for them. Contact the Economics Adviser at 4-100 Hanson Hall. Please bring a copy of your transcript to verify course work.

Students in other UMTC colleges may pursue majors and minors in Economics from CLA. Economics majors and minors can be added to almost any undergraduate program at the University. If, however, the student wants to earn two degrees (i.e. get two diplomas) then they must be admitted to the College of Liberal Arts and complete all of the requirements for each college.

Pursuing a Double Major or Minor

Students may earn a major or minor in Economics from CLA while pursuing a degree in another UMTC college. Only the courses for the Economics major or minor need to be completed. The transcript indicates that the student completed the major (or minor) but does not indicate that a second degree has been awarded. To pursue this option:

  1. Meet with Madhu Bhat, the Economics Undergraduate Adviser to complete a Major Program Form or Minor Program Form. This form lists the courses that can be used to fulfill the requirements for the major or minor.
  2. Once your form has been approved it will be electronically be submitted to the CLA Student Information Office.
  3. They will notify your current college that the major or minor should be added to your existing records.
  4. At graduation time advisers in the College of Liberal Arts will verify completion of your Economics Major or Minor.

Pursuing a Double Degree

Students in other colleges may earn a second degree from CLA. These students must complete all of the major requirements for Economics and all of the other requirements for the College of Liberal Arts (including the CLA Second Language requirement, if the second degree is a BA or BAQ).

Students may not pursue the same degree from each college. Thus, students who will be earning a B.S. from their other college must pursue the BA or BAQ in Economics from CLA. If the student is earning a different degree (Bachelor of Science in Business, Bachelor of Chemical Engineering, Bachelor of Biomedical Engineering, etc.) the student may choose to complete one of the BA majors, or the BS major. To pursue this option:

  1. Meet with Madhu Bhat, the Economics Undergraduate Adviser, to complete a Major Program Form. This form lists the courses that can be used to fulfill the requirements for the major.
  2. Once your form has been approved it will be electronically be submitted to the CLA Student Information Office.
  3. They will notify your current college that the major should be added to your existing records.
  4. Submit an Application for Admission to Additional Undergraduate Degree Program. This form is available as an online form (see Forms on Line at Onestop.umn.edu).
  5. Once admitted to CLA you will need to attend a short CLA orientation meeting. At that time you will be assigned to a CLA Student Community and to a CLA academic adviser. You should schedule a Balance Sheet appointment with that person so that you are clear on your remaining CLA requirements.
  6. At graduation time your CLA adviser will verify completion of your Economics degree.

The Bachelor of Individualized Study (BIS) Degree

If you wish to combine economics courses with courses from two other disciplines to develop an individualized degree program, you should contact an advisor in the BIS office in 30 Johnston Hall. In this program, the three disciplines need not be related to each other as long as each is internally coherent. Two of the three disciplines in the BIS program must be from the College of Liberal Arts.

You are given the opportunity to design a program of courses consisting of two or three concentrations or “mini-majors” -- popular combinations of programs are Economics and other fields like Management, Finance, Journalism, Communication, International Relations. If you have a possible interest in this degree, you should investigate it before the end of your sophomore year or early in your junior year, because it has a residency requirement. Economics courses offered for the BIS degree can be selected from all offerings of Economics courses, including courses which are restricted to non-majors. In this way, you may design a program that is less quantitatively stringent than an Economics degree program.

Another option is the IDIM program -- for those students interested in a thematic interdisciplinary BA major.


The Inter-College Program (ICP) Degree

The ICP (Inter College Program) is appropriate for self-directed students who incorporate a significant amount of coursework from at least two different colleges within the University. Students can design a B.A. or B.S. degree. Contact the ICP office at 612-624-4000 for more details.

Testing Out of Economics Courses

You can only test out of Economics 1101 and 1102 by taking the CLEP test for these classes. For information on tests call 612-625-2008.

You cannot test out of any other Economics class.

Equivalencies of Financial Economics and Finance Department Courses

Economics 4751 (semester course) and Fina 4241 (semester course) contain similar, but not identical, content. Fina 4241 cannot be used towards the Economics major. Students who have already taken Fina 4241 are prohibited from using Econ 4751 towards their major requirements.

Your APAS Report

Your APAS (Academic Progress Audit system) gives you valuable information regarding your degree progress. It helps you monitor your progress towards meeting major requirements, college requirements, and University of Minnesota Twin Cities Campus Liberal Education requirements.

You can access a copy of your APAS from the web. Go to onestop.umn.edu and look for the link to APAS. You can also get a copy from your college advising office.

The APAS is only as accurate as the people who have entered the data and have done the programming. If you believe that your APAS is inaccurate, please contact your college advising office.