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 your first 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 first-year students do not try to take Economics 310-1: Intermediate Microeconomics I or Economics 311: Intermediate Macroeconomics until after the fall term of your first 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:
Standard Weinberg student with no economics background
With AP or IB credits
Many students who are considering economics might also be interested in these programs:
Mathematical Experience Northwestern University (MENU) - A first year math sequence for strong quantitative students.
Mathematical Methods in the Social Sciences (MMSS) - An interdisciplinary applied math and social sciences double major. You can apply to being it at the start of your first year or the start of your sophomore year.
Kellogg Certificate Programs - This is a four course sequence that begins in the fall of junior or senior year.
Business Institutions Program (BIP) - A minor that applies many of the tools from the social sciences and history to bring an understanding of the way that business institutions function in society.
Learning and Organizational Change (LOC) - A major in the School of Education and Social Policy (SESP) that prepares its students to consult with businesses and other organizations that are trying to recreate themselves or adapt themselves to new roles.
Industrial Engineering and Management Sciences (IEMS) - This major is in the McCormick School of Engineering and Applied Sciences and applies the tools of engineering to many business-related issues
Medill Integrated Marketing Communications (IMC) Certificate - A five-credit program designed to prepare students for entry level marketing communications positions including advertising, direct, database, e-commerce, interactive marketing, PR and corporate communications.
Any other liberal arts or other major. Economics core classes are offered every quarter and we offer lots of 300-level field classes, so we can work with your other academic or study abroad issues
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: