B.A. in Economics < University of Miami (2024)

Overview

Major Area of Specialization in Economics (People & Society or STEM)

The B.A. in Economics is designed to equip students with a solid knowledge of economic theories supported by data analysis essential for understanding a wide range of modern economic problems. The program provides excellent preparation for those who plan careers in business, government, international agencies, and graduate studies.

Students pursuing the major in Economics through the College of Arts and Sciences will select one of two possible tracks: Political Economy (P&S) or Quantitative Economics (STEM). In the Political Economy track, People and Society courses are predominant. In the Quantitative Economics track, Science, Technology, Engineering, and Mathematics courses are predominant.

Departmental Honors for the B.A. in Economics

Qualified students pursuing the B.A. in Economics have the opportunity to earn Departmental Honors by fulfilling the following:

• a minimum cumulative GPA of 3.9 and a minimum GPA of 3.9 within the economics major at the end of the junior year; and
• completion of a 3-credit hour research project during the entire senior year on a topic that is of interest to both the faculty member supervising the research in economics and the student responsible for completing it. The research and written deliverable must be deemed to be of exceptional quality, consistent with the workload of a 3-credit hour upper level independent study course, and worthy of a designation that is only open to the top 1% of the University of Miami undergraduates; and
• a minimum cumulative GPA of 3.9 and a minimum GPA of 3.9 within the economics major at graduation; and
• any other requirements, if any, established by the Department granting honors as set forth in this Academic Bulletin.

The 3-credit hour research project class is not assigned a letter grade but instead is taken for "credit only." It does not count toward the 120 credit hours required for graduation. Only projects that are deemed to be of exceptional qualify will receive credit and result in the Honors designation. Students who begin a research project but do not complete it will be retroactively withdrawn from the Independent Study research course.

Further details related to Departmental Honors in Economics are available from the Director of the Undergraduate Economics program.

Curriculum Requirements

A student pursuing the major in Economics through the College of Arts and Sciences will select one of two possible tracks: Political Economy (People and Society) or Quantitative Economics (Science, Technology, Mathematics, and Engineering) and complete the curriculum requirements as follows:

¹

All specific coursework for either major option in Economics must be completed with a grade of "C-" or higher. A minimum cumulative GPA of 2.5 is required for all specific coursework taken in the major. All courses must be taken within the current pre-requisite structure.

No ECO course may double count in any other major, minor, or cognate.

²

Course pre-requisites vary by course.

³

This track requires bothMTH161or an equivalent calculus course and ECO302.

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This requirement is satisfied byMAS110 or MTH130 or MTH141 or MTH151 or MTH161 or MTH171 or an equivalent calculus course or higher. Please note: If the student wishes to take ECO302or the Quantitative Economics track, then MTH161or equivalent must be taken. Also note that if the student wishes to apply to transfer to the Miami Herbert Business School, he/she must take MTH161 or an equivalent and earn a minimum "B" grade in the course, as well as have a minimum UM grade point average of 3.0.

⁵

Please see theCollege of Arts and Sciences Bulletin Overview pageregarding the "Details of the Second Language Proficiency."

⁶

This requirement is waived if the student's STEM cognate includes a Natural Science course from the approved list. See theCollege of Arts and Sciences Bulletin Overviewpage for more information.

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A minimum of 120 credits is required for graduation. Sufficient credits must be earned in electives to enable the student to complete this minimum of 120 credits. The exact number of elective credits required will vary depending on the number of credits needed to complete all other graduation requirements.

⁸

Advanced Writing and Communication Proficiency: Degree candidates mustcomplete at least four writing courses, and at least one writingcourse must be in the student's major discipline. Either ECO301 or ECO445will satisfy the College of Arts & Sciences writing requirement in the discipline.

Sample Plan of Study

This Sample Plan of Study represents one possible version of a new freshman student’s 8-semester plan.The individual student's plan may vary depending upon the initial placement into English Composition, mathematics, and modern language. Moreover, numerous plan variations are possible if a student enters the University with advanced college credits, wishes to participate in study abroad, chooses a special program option, or selects additional majors or minors.

Note that each major/minor satisfies a particular "Area of Knowledge" within the general education requirements of the University, so that a separate cognate in that same Area of Knowledge is not required. For example, if a student chooses the Political Economy track for the Economics major, then the People and Society Area of Knowledge will be fulfilled by the major. The STEM and Arts and Humanities Areas of Knowledge may likewise be fulfilled by an additional major, or through the minor or a cognate.

Students construct their individualized plans in collaboration with their assigned academic advisor.

¹

A calculus course is required for the Economics major. If a student wishes to take ECO302or selects the Quantitative Economics Major option, then MTH161or an equivalent must be taken. If a student has taken an "applied" calculus course such as MAS110 or MTH130, then he/she will take ECO300 instead ofECO302and must follow the Political Economy (P&S) Major option for Economics.

Mission

Economics uses the principle of utility maximizing behavior to provide a unified framework for studying how people make choices. The economics curriculum is designed to give students an understanding of economic theory and its application to a wide range of human behavior. The program provides excellent preparation for careers in business, government, research organizations, and international agencies. It is particularly recommended for students planning graduate study or professional training in fields such as economics, law, business, international studies, public administration, and public health.

Goals

• To teach students foundational material to ensure they have a deep understanding of economic theories and quantitative methods.
• To prepare students with the skills essential for professional careers and admission to business school, law school, economics Ph.D. programs, or multidisciplinary programs.
• To ensure students demonstrate analytical thinking and problem-solving skills.
• To prepare students for using quantitative tools, analytical models, and conceptual frameworks to analyze economic data.
• To ensure students are able to demonstrate technical writing skills.
• To prepare students to effectively collaborate in group settings and to effectively communicate in both written and oral formats.

Student Learning Outcomes

• Students will demonstrate proficiency in the fundamentals of economic theories and quantitative methods.
• Students will be able to think analytically and demonstrate problem-solving skills.
• Students will be able to interpret quantitative data appropriately, and select and use appropriate models, conceptual frameworks, and quantitative tools to analyze economic data.