Program Advice for Economics Majors

see also Requirements for Economics Majors

September 2004

The Department of Economics offers programs leading to the B.A. and B.S. degrees. The following advice is designed for majors and prospective majors.

Admission to the Major

For students matriculating Fall 2004 or later, completion of both Eco 110M and 111M with grades of C or better is required for admission to the major.

Distinction between B.A. and B.S. Degrees in Economics

To most people outside the University, it makes little difference whether a bachelor's degree in Economics is called B.A. or B.S. In some colleges and universities there is virtually no difference between the requirements for the two degrees, while in others the B.S. requires substantially more coursework in mathematics and computer science. In other colleges and universities only one degree program is available.

At Albany there is a modest difference between the B.A. and B.S. degree requirements. The B.S. in Economics has a heavier requirement in mathematics than the B.A. has, and the B.S. restricts the selection of the minor. However, the B.S. has a lighter requirement in terms of the number of liberal arts credits required (60, rather than 90). This difference is important for students who have an especially large number of credits from business courses.

The most important consideration in choosing between the degree programs is the student's interest in mathematics (calculus). Students who like mathematics and who may go on to graduate study in technical fields (such as economics or management science) are encouraged to pursue the B.S. For students with less mathematical interest, the B.A. degree is the normal choice.

Students who are studying Economics as their second major will receive a B.A. or B.S. according to the program and requirements they meet in their first major. Thus, for example, students whose first major is the B.A. program in Mathematics will receive a B.A. degree from the University regardless of whether they choose the B.A. or B.S. program in Economics.

Course Sequencing in the Economics Major

  1. Principles of Economics Courses: Eco 110M (Micro) must be taken before Eco 111M (Macro), because of the way course material is sequenced at Albany. Eco 110M is a prerequisite for Eco 111M in the Bulletin.

  2. Mathematics Requirements: (For the B.A.: Mat 106, 111, 112, or 118, or Eco 210. For the B.S.: Mat 111, 112, or 118, plus Mat 113 or 119.) The necessary courses, at least to the B.A. level, should be taken before the Junior year because Eco 300, 301, and 320 demand this as a prerequisite.

  3. Upper-Level Required Courses: The required core courses Eco 300, 301, and 320 should be taken in the junior year or before. All three core courses have the B.A. level math requirement as a prerequisite.

    Note: for students matriculating Fall 2004 or later, the core courses must be taken at the University unless completed elsewhere prior to matriculation.

  4. Upper-Level Elective Courses: All courses at the 300 and 400 levels have Eco 110M and 111M as prerequisites, either directly or indirectly. The selection of courses at this level calls for a sequencing of courses based on the additional prerequisites that courses have and on academic interests.

    Some 300-level courses require Eco 300 (Intermediate Microeconomics) as a prerequisite, and all 400-level courses have 300-level prerequisites. See the Economics Courses and Prerequisites list or the descriptions of Economics courses in the Undergraduate Bulletin.

Selecting Upper-Level Electives

Students may choose to focus their study in a few areas of specialization or to take courses in a wide variety of areas – this depends on their academic and career interests. The following lists suggest courses that are appropriate for different areas. (Not all upper level electives are shown here, and some courses appear in more than one area. In addition to the prerequisites shown, all these courses require Eco 110M and 111M.)

Business and Management: Finance and Macroeconomics: International Economics: Government and the Economy: Social Welfare: Quantitative Analysis:

Honors Program

The honors program in Economics is designed to provide capable and motivated students with a greater understanding of economics and to better prepare them for graduate and professional schools. In addition to the basic degree requirements, the program requires 6-8 additional credit hours to augment research skills and a senior honors thesis. An honors student must maintain a GPA of at least 3.50 in economics and 3.25 in all courses taken at the University. Interested students should look at the statement of requirements and see the Director of Undergraduate Studies.

Planning for Graduate Study

The Economics major provides a strong background for students who plan to go on to graduate study at the Masters level in Economics (M.A.) or Business (M.B.A.). For both fields, gaining experience in computer applications is important, and taking more than the minimum mathematics requirement is a good idea. For business, especially, developing strong communications skills (public speaking and writing) is important.

The Economics major also provides an excellent background for graduate study in professional schools of law, public administration, public health, and other fields.

Students who plan to go on to doctoral level (Ph.D.) study in Economics need a very strong background in mathematics. Three semesters of calculus (through Mat 214, Calculus of Several Variables) plus one semester of Linear Algebra (Mat 220) is the bare minimum. Taking a minor or second major in Mathematics is strongly recommended. Our web directory of Economics Departments with Ph.D. programs can help you learn about different programs.

Combined Bachelor's/Master's Programs

Combined programs leading to a bachelor's degree in Economics and a master's degree in Business Admininstration (M.B.A.), Health Policy and Management (M.S.), or Public Administration (M.P.A.) provide students the opportunity to fulfill integrated requirements for the undergraduate and graduate degrees. With careful planning, it is possible to earn both degrees in five years. Students are normally admitted to the combined program in their junior year. For further information, look at the statement of requirements and see the Director of Undergraduate Studies.

Career Planning

Prospective employers looking for Economics majors are often looking for students with good technical skills (computer use, statistics, and mathematics), who are comfortable working with data and analytical problems. In addition to appropriate courses in Economics, students are advised to take "skills courses" in other departments and to develop these skills on their own.

Information about careers that are especially suitable for Economics majors can be found at the Career Development Center, ULB 69. In addition to the "specialist training" that being an Economics major provides, our students receive a strong general education that is valuable for careers in business, government, and the non-profit sector.

Graduates of the Economics program work as financial analysts, finance and credit officers for insurance companies and banks, economic analysts for corporations, policy and legislative fiscal analysts, business officers for non-profit and government organizations, entrepreneurs, as well as administrators and heads of businesses and government agencies. In addition, some graduates go to work as lawyers, teachers, police officers, and in other diverse occupations.

Economics Internship

The Economics Internship (Eco 496) provides an opportunity to gain experience in a career setting in the private, non-profit, or public sector. Students can use this to explore a possible career path and to enhance their own job search.

Taken as a 3-credit course, the internship requires 150 hours of sponsored activity plus several reading and writing assignments. This internship is available only for Economics majors with senior class standing and an overall GPA of 2.50 or higher.

Economics Undergraduate Programs | Economics Department | University at Albany