The Economics major and minor are open to all undergraduates at Northwestern. The information laid out here should be of help to you, but if you have more questions, please get in touch with economics professor Jim Hornsten ( j-hornsten@northwestern.edu).
- WHAT IS ECONOMICS? Economics is the study of how we make choices in the face of scarcity, and how those choices aggregate up to interesting behavior. For instance, in freshman year you have twelve classes to try out various subjects at Northwestern in the hope of finding the right major. We try to structure our course offerings so that we will offer enough sections of the economics classes you need.
- GETTING STARTED IN THE MAJOR Most of our students have never taken economics before coming to Northwestern. The usual starting point is Economics 201: Introduction to Macroeconomics, then Economics 202: Introduction to Microeconomics, followed by either Economics 310-1: Intermediate Microeconomics I or Economics 311: Intermediate Macroeconomics. We offer these classes every quarter and we try to offer enough seats so that they never close.
- For further information about the structure of the major, see the economics undergraduate page.
- A full list of the classes we offer, including times and days can be found here.
- ADVANCED PLACEMENT Students with a strong background in economics (scores of 5 on the AP exam, 6 or better on the IB, or having taken economics at some other college) can skip 201 and/or 202. However, we recommend that freshman do not try to take Economics 310-1: Intermediate Microeconomics I or Economics 311: Intermediate Macroeconomics until after the fall term of freshman year.
- STATISTICS Freshmen interested in economics usually take Statistics 210 and follow that with Economics 281: Introduction to Econometrics. Students that are particularly strong in mathematics or statistics should talk to an economics adviser about finding the right level of statistics.
- MATHEMATICS Most 300-level economics classes use algebra, graphical analysis, and derivatives. The minimum math requirement for economics is Mathematics 220: Differential Calculus of Functions of One Variable. You will have no problem completing the major with just Mathematics 220, however some upper-level economics classes require more advanced mathematical tools, and we recommend that you take as much math as you are comfortable taking. Many economics students double-major in mathematics. Math classes of particular interest are Mathematics 224, 230, 240, 300, 310 sequence, 320 sequence.
Here are some possible four-year economics schedules: Many students who are considering economics might also be interested in these programs: For further advising help, the following resources can be of great help: Anyone who is interested in economics may want to join these student organizations:
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