This information is part of the Colgate University catalog, 2023-24.
The major is designed to encourage a student with strong interests in the two areas to develop a deeper understanding of economics by viewing it, in part, as an area of applied mathematics. This major should be considered seriously by all those intending to pursue graduate studies in economics, business, or quantitative social science, and also by those desiring a more flexible commitment to the major programs in these two departments. As its name suggests, the Mathematical Economics major is mathematically intense. Students declaring this major should possess a high level of aptitude in both mathematics and economics, and they should be prepared to apply advanced mathematical skills toward problems in economics. Similar to the economics major, the mathematical economics major meets the classification as a STEM discipline according to the United States Citizenship and Immigration Services (USCIS) so that international students are eligible for a 24-month Optional Practical Training (OPT) extension.
Students who are considering graduate school in economics are strongly encouraged to take additional mathematics courses, including MATH 377 - Real Analysis I .
Prospective majors should aim to complete ECON 151, ECON 251, ECON 252, statistics, and MATH 163 - Calculus III by the end of sophomore year, especially if they plan to study abroad during their junior year.
At least one of the ten economics courses must be a senior-level seminar (at the 410 level or above). ECON 490 cannot be used to satisfy the seminar requirement except in unusual circumstances and with the permission of the department chair.
The major consists of three mathematics courses and ten economics courses unless pre-matriculation credit (e.g., AP or transfer student credit) for ECON 151 has been received. Students who have received pre-matriculation credit for ECON 151 must complete a minimum of nine (9) economics courses.
The major requirements consist of the following:
All of the Following
- ECON 151 - Introduction to Economics (prerequisite to all advanced ECON courses at the 200-400 level)
- ECON 251 - Intermediate Microeconomics (must earn a grade of C or better)
- ECON 252 - Intermediate Macroeconomics (must earn a grade of C or better)
- ECON 375 - Applied Econometrics (must earn a grade of C or better) ECON 375 has two mathematics prerequisites, each of which can be satisfied in multiple ways:MATH 161 - Calculus I , MATH 162 - Calculus II , or MATH 163 - Calculus III ; or the equivalent international exam transfer credit (e.g., A-Levels, International Baccalaureate) or other transfer credit may be eligible for an exemption for MATH 161, per approval by the department chair. Students who have taken an equivalent course may petition the department chair for an exemption.MATH 105 - Introduction to Statistics or CORE S143 - Introduction to Statistics . Students who have taken an equivalent course (such as BIOL 320 - Biostatistics or PSYC 309 - Quantitative Methods in Behavioral Research ) may petition the department chair for an exemption. Students with an equivalent international exam transfer credit (e.g., A-Levels, International Baccalaureate) or other transfer credit may be eligible for an exemption for MATH 105, per approval by the department chair.
- A senior-level seminar (at the 410 level or above). ECON 490 cannot be used to satisfy the seminar requirement except in unusual circumstances and with the permission of the department chair. If students take ECON 474 or 475 for their seminar, they need to take an additional 300-level elective to satisfy the requirement of ten economics classes.
- MATH 163 - Calculus III
- Two additional MATH courses (MATH 214 or higher) chosen in consultation with the student's adviser
- Two additional economics electives (excluding ECON 105), beyond the courses listed below. At least one of these electives must be numbered above 300.
Three of the Following
At least three of the following mathematically-oriented economics courses, in addition to those listed above:
- ECON 345 - Games and Strategies
- ECON 355 - Advanced Macroeconomics
- ECON 357 - Advanced Microeconomic Theory
- ECON 374 - Mathematical Economics
- ECON 385 - Advanced Econometrics
- ECON 474 - Seminar in Mathematical Economics
- ECON 475 - Seminar in Econometrics
Satisfactory completion of the major requires a minimum GPA of 2.00 in the 13 courses in the major.
Honors and High Honors
Students interested in pursuing honors can find the additional requirements on the Economics department page.
In order to declare the major, students must have first earned a grade of C or better in either ECON 251 or ECON 252. Students who declare a major while enrolled in one of these courses may file "provisional" major declarations. Students with a grade lower than C in ECON 251, ECON 252, or ECON 375 may not declare a major until a grade of C or higher is earned.
For more information about the department, including Faculty, transfer credit, awards, etc., please visit the Economics department catalog page.