NYU > Economics Department > Program of Study

Back to Previous Page

Printer Friendly

Program of Study (CAS Bulletin)

MAJOR

In order to allow students to select an approach to the study of economics that is more suitable to their personal aptitudes and interests, a major in economics can be taken in either of two concentrations, as described below.

If a student fails a course required for the major, the course must be retaken in the department; a course taken outside the University will not be allowed to substitute for a failed course. No course for the major may be taken as pass/fail.

A grade of C or better is required for a course to be counted toward the major in economics. Transfer students should note that normally the only courses that will be accepted toward the major in economics are courses that have been passed with a grade of C or better at universities with an intensive four-year program.

While AP credit in economics with a grade of 4 or 5 is acceptable, it does not reduce the total number of courses required for the major or minor. AP credit in statistics is not acceptable for economics majors. AP credit does not apply to V31.0005.

Policy concentration: The policy concentration is intended for the student who is primarily interested in applying economic analysis to an understanding of economic problems and policies. The introductory and intermediate courses provide the student with a solid foundation of economic theory with an emphasis on economic applications. The elective courses allow students to focus on specific problems and topics that match their interests and career plans.

The policy concentration corresponds most closely to the economics major that is offered by the leading colleges and universities around the country. While mathematics is used to build an understanding of theory, the focus is on graphical analysis, the intuition behind the theory, and applications. This concentration is particularly well suited for students planning careers in law, public policy, business, or any other field in which a thorough understanding of the economic way of thinking would be beneficial. However, students in the policy concentration can also pursue a Ph.D. in economics or finance if they supplement their course work with additional courses in mathematics.

At least 42 points (10 courses) are to be taken in the Department of Economics: six core courses (V31.0001, V31.0002, V31.0010, V31.0012, the 6-point V31.0018, and V31.0238), plus four electives. Of these four electives, at least two must be numbered V31.0300-0399.

A typical sequence of courses consists of the following: by sophomore year, V31.0001, V31.0002, and V31.0018; by junior year, V31.0010, V31.0012, and V31.0238; by senior year, four electives. Note: Statistics is to be taken as early as possible. Senior-level courses (300 level and above) presume a knowledge of statistics.

Students are strongly advised to pay close attention to the prerequisites for each course. Students should be aware that Algebra and Calculus (V63.0009), or its equivalent, is required for the principles classes (V31.0001 and V31.0002). Students intending to major in economics must have a strong working knowledge of algebra and introductory calculus. Furthermore, a course in calculus (V63.0121) is required for the intermediate courses and statistics (V31.0010, V31.0012, and V31.0018). A grade of C or better is needed to pass the mathematics requirements. Both Economic Principles I (V31.0001) and Economic Principles II (V31.0002) are required for intermediate macroeconomics (V31.0012).

Theory concentration: The theory concentration is intended for the student who wishes to begin the formal study of economic reasoning with an emphasis on mastering the analytical tools. This concentration relies on a higher level of abstraction and focuses on techniques of economic analysis rather than on the understanding of specific economic problems or institutions. It is particularly well suited for students who intend to pursue a Ph.D. degree in economics or higher degrees in quantitative fields such as finance.

At least 40 points (10 courses) are to be taken in the Department of Economics: V31.0005, V31.0006, V31.0020, V31.0011, V31.0013, and V31.0266, plus four economics electives. At least two of these electives must be courses numbered V31.0300-0399 and designated as theory classes.

Students are strongly advised to pay close attention to the prerequisites for each course. Furthermore, students must complete V63.0121, V63.0122, and V63.0123. These calculus courses should be completed before or during the student’s first year in the program.

A typical sequence of courses consists of the following: by sophomore year, V31.0005, V31.0006, and V31.0020; by junior year, V31.0011, V31.0013, V31.0266, and one elective; by senior year, three electives.

Changing concentrations: Students with permission from the director of undergraduate studies may change from the policy concentration to the theory concentration, or vice versa; however, certain rules apply. In either case, no course may be taken for which the student does not have the appropriate prerequisites; this includes the mathematics prerequisites.

Transferring between concentrations after students have completed any of the intermediate courses is very difficult, more so in going from the policy to the theory concentration. Students who are unsure about which concentration to take should seek departmental advice before beginning their major. For those switching into the theory concentration from policy, V31.0001 or V31.0002 can be substituted for a 200-level elective. For those switching from theory to policy, V31.0005 may substitute for V31.0002.

JOINT MAJOR IN ECONOMICS AND MATHEMATICS

A joint major is offered by the Departments of Economics and Mathematics. In the economics department, joint majors with mathematics may only take the theory sequence. Nine courses must be taken from each department.

The mathematics requirements are a total of nine courses. The six required courses are as follows: V63.0121, V63.0122, V63.0123, V63.0140, V63.0325, and V63.0326. Three courses must be completed from V63.0224, V63.0233, V63.0234, V63.0235, V63.0262, V63.0240, V63.0363, V63.0245, V63.0264, V63.0248, V63.0250, V63.0252, V63.0270, V63.0282, V63.0343, V63.0344, or V63.0141.

The economics requirements are V31.0005, V31.0006, V31.0011, V31.0013, V31.0020, and V31.0266, plus any three economics elective courses, at least two of which must be theory electives numbered V31.0300-0399.

Interested students should consult with the director of undergraduate studies in both departments for additional information.

JOINT MAJOR IN ECONOMICS AND COMPUTER SCIENCE

This is an interdisciplinary major offered by the Department of Computer Science with the Department of Economics. There are requirements in three departments, including the Department of Mathematics. A grade of C or better is required in all courses.

The mathematics requirements are V63.0120, V63.0121, V63.0122, and V63.0123.

The computer science requirements are V22.0101, V22.0102, V22.0201, V22.0202, and V22.0310, plus four computer science electives numbered V22.0400 or higher. One of these electives may be replaced by any one of the following: V63.0140, V31.0310, V31.0337, V31.0365, or V31.0375.

Interested students should consult with the director of undergraduate studies in both departments for additional information.

MINOR

Students may minor in economics in either concentration. A minor enables a student to acquire a useful understanding of economic concepts and analysis without the same degree of coverage as would be obtained in a major. A grade of C or better is required for a course to be counted toward the minor in economics. Note: If a student fails a course required for the minor, the course must be retaken in the department; a course taken outside the University will not normally be allowed to substitute for a failed course. No course for the minor may be taken as pass/fail.

Policy minor: At least 26 points (six courses) to be taken in the Department of Economics, including V31.0001, V31.0002, V31.0018, either V31.0010 or V31.0012, and two additional 4-point courses for which the student has the prerequisites

Theory minor: At least 24 points (six courses) to be taken in the Department of Economics, including V31.0005, V31.0006, V31.0020, either V31.0011 or V31.0013, and any other two electives in the theory sequence for which the student has the prerequisites

HONORS PROGRAM

Honors may be taken in either concentration. Students interested in going to graduate school or professional schools are strongly urged to take honors. A 3.65 overall GPA and a 3.65 average in economics courses are required.

Interested students should consult with the director of undergraduate studies. For general requirements, see the Honors and Awards section of this bulletin. Honors students are required to take at least 46 points (11 courses) in the policy concentration or at least 44 points (11 courses) in the theory concentration. Students will need to begin the process early in the spring semester of their junior year.

Students who wish to take honors would take the following courses:

Policy concentration: Six core courses (V31.0001, V31.0002, V31.0018, V31.0010, V31.0012, and V31.0238); Topics in Econometrics (V31.0380); two other electives (at least one of these must be a 300-level elective); and two honors courses (V31.0410 and V31.0450)

Theory concentration: Six core courses (V31.0005, V31.0006, V31.0020, V31.0011, V31.0013, and V31.0266); three electives (at least two of these must be 300-level electives); and two honors courses (V31.0410 and V31.0450)