This information is part of the Colgate University catalog, 2021-22.
|Professors Haines, Kato, Khanna, Simpson (Chair), Sparber, Turner, Waldman
Associate Professors Castilla, Scrimgeour, Song
Assistant Professors Anderson, Aqeel, Brabant, Connolly, Globus-Harris, Higgins, Klotz, Lillethun, Murphy, Sharma
Visiting A.L. O'Connor Chair of American Institutions Alorbi
Visiting Assistant Professors Donovan, Hasan, Inoue, Islam
Lecturers Hines, Owen
The basic objective of the Department of Economics is the development of students' understanding of economics as the social science that deals with production, consumption, and market exchange activities. All students begin with ECON 151 - Introduction to Economics. Majors advance through a core of analytical courses and choose among a series of options in theoretical and applied economics. Students with an interest in graduate work leading to careers in such fields as economics, law, business, public administration, or the foreign service are asked to discuss these objectives early in their college careers in order to plan an adequate program in economics. While not an undergraduate business or professional school, the department provides essential background for a variety of career interests.
ECON 151 is a prerequisite for all courses numbered above 200.
ECON 251 is a prerequisite for all courses numbered between 300 and 349.
ECON 251 and ECON 252 are prerequisites for all courses numbered between 350 and 374.
ECON 251, ECON 252, and ECON 375 are prerequisites for all courses above 375.
Courses numbered below ECON 150, including ECON 105, cannot be counted as part of the major program.
Preparation for Graduate School
For students considering graduate school in business administration, at least two courses in mathematics (preferably MATH 161 and MATH 162) and one computer science course (such as COSC 101) are strongly recommended. Students considering graduate school in economics are strongly encouraged to take these courses, as well as additional courses in mathematics, including MATH 214 and MATH 377. Students with these interests should also consider the mathematical economics major described here and consult with their academic adviser as early as possible. Students considering graduate work in economics leading to a PhD should consider pursuing a double major in economics and mathematics.
The Chi-Ming Hou Award for Excellence in International Economics — established in honor of the late Chi-Ming Hou, who was a member of the Colgate economics department from 1956 to 1991, for outstanding achievement in international economics.
The Marshall-Keynes Award for Excellence in Economics — awarded by the department to the senior with the strongest, sustained performance in analytical economics.
The J. Melbourne Shortliffe Prizes — established in honor of the late J. Melbourne Shortliffe, chair of the economics department emeritus, and awarded to outstanding graduating seniors who have majored in economics.
Advanced Placement and Transfer Credits
A score of 4 or 5 on both the microeconomics and macroeconomics AP exams will exempt incoming students from ECON 151; no credit is given if only one AP exam is taken or if a score of 3 or lower is received on either exam. No transfer credit is given for ECON 105 - Principles of Accounting. Except for students transferring from another college or university, no transfer credit will be given for ECON 251, ECON 252, or ECON 375, and no more than two courses in economics taken elsewhere can be accepted for major credit. An exception may be made in cases when the student has pre-matriculation credit for ECON 151; students should contact the department chair. Courses taken elsewhere must be comparable to what is offered in a liberal arts economics program.
Students who hope to transfer course credit must consult with the department prior to enrolling elsewhere. Students returning from summer courses, study groups or approved programs are not entitled to retroactively seek major credit in the department. Students are eligible to transfer up to two economics electives towards the major (and one elective for the minor), pending pre-approval from the department. Major or minor credit is normally only granted for courses taken while participating in an approved program that is on the economics department list.
All transfer courses must have a minimum prerequisite that is equivalent to Colgate's ECON 151 course and the department recommends taking courses that have ECON 251 and/or ECON 252 as prerequisites. Students who transfer to Colgate from other institutions may be granted more than two course credits toward the major at the discretion of the department chair.
To be invited to participate in the honors program, students need a minimum 3.33 GPA in the three core courses: ECON 251, ECON 252, and ECON 375. To qualify for departmental honors, a student must enroll in the year-long honors seminar (ECON 489 and ECON 490) in which each student writes an honors thesis. Students also present their projects to the seminar and act as discussants of other projects. Certification of honors and high honors will be based mainly on the quality of the honors paper. In addition, honors candidates must have, at graduation, a B+ average (A– for high honors) in the nine economics courses taken for major credit, and must receive a satisfactory grade in ECON 490.
Special rules apply to honors in mathematical economics.
Since the major also includes the requirements for an economics program, special rules apply for honors. A mathematical economics major has two mutually exclusive options:
- qualifying for honors or high honors in economics by satisfying the honors criteria for the economics major. Under the first option the student will receive the honors certification in economics as a mathematical economics major, or
- qualifying for these honors in mathematical economics by satisfying the same criteria except that the departmental GPA is calculated for all 13 of the required courses.
The London Economics Study Group
Based in London, the group studies selected economic problems and institutions of the United Kingdom and the European community. See Off-Campus Study.
Majors and Minors
- ECON 105 - Principles of Accounting
- ECON 151 - Introduction to Economics
- ECON 219 - Chinese Economy
- ECON 228 - Environmental Economics
- ECON 233 - Economics of Immigration
- ECON 234 - Gender in the Economy
- ECON 238 - Economic Development
- ECON 249 - International Economics
- ECON 251 - Intermediate Microeconomics
- ECON 252 - Intermediate Macroeconomics
- ECON 291 - Independent Study
- ECON 314 - Industrial Organization
- ECON 320 - Law and Economics
- ECON 333 - Urban Economics
- ECON 336 - The Economics of Sports
- ECON 339 - The Japanese Economy
- ECON 340 - Behavioral and Experimental Economics
- ECON 344 - Public Economics
- ECON 345 - Games and Strategies
- ECON 348 - Health Economics
- ECON 349 - Topics in International Trade
- ECON 351 - International Finance and Open-Economy Macroeconomics
- ECON 352 - Money and Banking
- ECON 353 - Fed Challenge
- ECON 355 - Advanced Macroeconomics
- ECON 356 - Growth and Distribution
- ECON 357 - Advanced Microeconomic Theory
- ECON 360 - Applied Economic Theory
- ECON 368 - American Economic History
- ECON 369 - History of Economic Thought
- ECON 370 - European Economic Issues (London Study group)
- ECON 371 - The Economics of the European Union (London Study Group)
- ECON 372 - The British Economy (London Study group)
- ECON 374 - Mathematical Economics
- ECON 375L - Applied Econometrics Lab
- ECON 375 - Applied Econometrics
- ECON 380 - Economics of Households in Developing Countries
- ECON 381 - Labor Economics
- ECON 383 - Natural Resource Economics
- ECON 387 - Financial Economics
- ECON 391 - Independent Study
- ECON 405 - Advanced Econometric Issues
- ECON 414 - Seminar in Industrial Organization
- ECON 421 - Seminar in Economics of Education
- ECON 433 - Seminar in Economics of Race, Ethnicity, and Migration
- ECON 436 - Seminar in Sports Economics
- ECON 438 - Seminar in Economic Development
- ECON 443 - Seminar in Policy Evaluation
- ECON 450 - Seminar in International Economics
- ECON 468 - Seminar in American Economic History
- ECON 474 - Seminar in Mathematical Economics
- ECON 475 - Seminar in Econometrics
- ECON 481 - Seminar in Labor Economics
- ECON 483 - Seminar in Resource and Environmental Economics
- ECON 484 - Seminar in Applied Macroeconomics
- ECON 487 - Seminar in Financial Economics
- ECON 489 - Preparation for Honors Seminar: Special Problems in Economics
- ECON 490 - Honors Seminar: Special Problems in Economics
- ECON 491 - Independent Study