<p>“A non-major taking economics to fulfill distribution or divisional requirements would take Economics 201 (open to all students without prerequisite) and courses chosen according to his or her interests that, in total, equal one unit. Students considering a major in economics are advised to take Economics 201 during their first year, though many students successfully complete the major starting their economics coursework as sophomores. Economics majors take core coursework in economic theory (Economics 313 and Economics 304 or 314) and statistics and econometrics (Economics 311 or 312), as well as a selection of elective courses. Although there is no formal mathematics requirement, the methods of modern economic analysis require a working understanding of calculus, which is a prerequisite for the required courses in microeconomic and macroeconomic theory. Students considering graduate study in economics should take additional courses in mathematics as suggested below. An interdisciplinary major in mathematics-economics is offered for students desiring a stronger emphasis on quantitative analysis.”</p>
<p>The answer is what a few indicated above. Programs recommend quantitative based courses, but few (don’t know the frequency, but I bet it is rare) require many math heavy courses. The reason is that they do not want to drive people out of the major. At my large university business majors take sections of calculus reserved for students in that college. I have no idea if the content is different, but clearly these sections will have a more favorable curve than those sections populated by students from the college of science and ENG.
I imagine ECON students who opt for a more quantitative path would be more attractive candidates than those who don’t. Even if the mathematics skills are not required in the future, excellent class performance would suggest stronger analytical skills </p>
Update: have found that Amherst’s intermediate microeconomics course has an option using multivariable calculus (ECON 301 instead of 300; 301 appears to only be offered in the fall, while 300 is offered every semester). So there is at least one LAC option for students who want more math (than frosh calculus) in their economics courses.
My son is a math and econ double major at Vanderbilt. He feels like he still has room in his schedule for electives, etc. if a student likes both subjects, is there a problem with double majoring as a solution? Maybe because almost every school offers math as a major, it is not felt to be an area necessary to which to devote a special flavor of the Econ major.
D1 double majored in math and econ. She took more math oriented econ courses in order to get credit for both majors. She was able to use those courses to double dip.
I used to teach math at a small private LAC, and here are some possible reasons why there are less math-based econ courses in LAC’s :
Econ faculty who themselves have a high level math background probably gravitate to better paying positions elsewhere.
Many LAC’s still have faculty who got PhD’s in econ back in the day when it was not so heavily quantitative (academic lifespan of a tenured prof = 40+ years).
Curricula at small LAC’s do not change as quickly as in larger universities.
Requiring higher level math classes would drive away undergrad econ majors - even at a very good LAC.
My younger son is an econ/finance/accounting major with a math minor. He has been quite surprised that, in his intermediate macro class (a mid 300 level class) that so many people are struggling with the math. We are not talking high-level math but systems of equations. That is something taught in Algebra I and II. He tried to assist one of his classmates with a problem, but could not because the young man did not understand the math concepts. We (along with his former high school teachers) told him that his strong math background will serve him well when it comes time to find an internship. It has. He is just a freshman, and already, several companies have been in contact with him.
LACs that offer a “mathematical economics” major or track include:
Gettysburg College (requires multivariable calculus and linear algebra, plus at least 2 Math/CS electives, which can include Differential Equations, Real Analysis, Probability and Statistics)
Colgate
Colorado College
Haverford
Wesleyan
St. Lawrence
University of Richmond
Pomona
Pitzer
Middlebury is an example of a LAC that does not appear to offer a “mathematical economics” major or track … but does strongly encourage econ majors who are considering graduate studies to develop the requisite math foundation
(http://www.middlebury.edu/academics/econ/requirements (see “Post-Graduate Preparation” section)).
“Graduate programs in economics or finance [other than a Masters of Business Administration (MBA)] generally require a high degree of mathematical sophistication. Students thinking of continuing in such a program are encouraged to: (i) take MATH 0310 in place of ECON 0210; (ii) select economics electives with significant mathematically and statistically rigorous content [recommended courses fulfilling the elective requirements of the economics major include: ECON 0229, ECON 0280 (formerly ECON 0380), ECON 0390, and ECON 0411]; (iii) take a number of additional courses in mathematics and computer science [recommended courses include: CSCI 0101, MATH 0315, MATH 0318, MATH 0323, MATH 0410, and MATH 0423]. Good training for graduate school might include being a statistics tutor or having worked as a research assistant at Middlebury College or at a Federal Reserve Bank, or as an intern at a research institute or NGO. Students thinking about this option should discuss their plans with their advisor and other faculty members.”
I took basic macro and micro Econ for my accounting undergrad and MBA many, many years ago. None of these classes would be considered math heavy, as they were overview classes. I did take Econometrics undergrad and that was a very heavy statistics oriented class. I beleive most Econ classes are geared (& have been) to qualitative, rather than quantitave concepts. As a previous poster mentioned, an Applied econ or Quantitave Econ degree would involve heavy math.
Lots of schools (LACs and research universities) offer such majors or tracks, and adding extra math and statistics courses can be done even when there is no formalized “extra math” track. However, this thread is about schools offering economics courses with high math content, not the possibility of adding extra math and statistics courses to an economics major.
Far fewer schools offer intermediate microeconomics or econometrics courses which use higher level math than frosh calculus.
I don’t know if my daughter’s economics courses (at Carleton) have a high math content. She chose to double major in economics and math and doing so, along with her academic performance, seems so far to have prepared her well for post-college employment and possible graduate school admission.
Econ also tends to be a fallback major for students who find they couldn’t handle Physics/Math or engineering/CS.
As for Econ majors aspiring to do PhDs, the common advice I kept hearing undergrads get is to pursue a double major in Econ and math or to major and excel in something more quantitatively intensive like Physics, Math, or Engineering.
Because econ courses with a high math content aren’t really required.
For preparation for an Econ PhD, regular econ+math courses would suffice. For any other goal, the math courses generally aren’t required (though a strong quantitative background may still give you a leg up).
It just depends on the school and the context - more specifically the demand for econ majors and minors. If you tone down the math requirements you will always greatly increase your total # of majors and minors. Big department always manage this by offering alternative tracks. I.e., Most places will at least offer pre-defined paths for math&metrics heavy course programs to better prepare students for grad school. Smaller schools sometimes have to choose.
DS is considering an Econ+Math major at Yale. He reports that a surprising number of students, for the most part exceptionally well-prepared academically, have difficulty with the math component of Econ.