The major in economics requires 1) a minimum of nine economics courses, 2) the department’s capstone experience, and 3) two required courses in mathematics. Of the nine economics courses four are required courses: ECON 119 - Principles of Economics , ECON 361 - Intermediate Microeconomic Analysis , ECON 371 - Intermediate Macroeconomic Analysis , and ECON 381 - Introduction to Econometrics . Three of the remaining five courses must be from Group E (economics) and include: one course at the 200 level plus two additional courses, at least one of which must be numbered above 400. The final two courses can be exclusively from Group E or Group B (business) or some combination of the two groups. Approved study-away economics courses fall into Group E and students can count up to two of these for the major. Similarly, approved business courses not taken at Macalester fall into Group B and students can count up to two of these toward the major requirements.
Minimum grade of a C- is required for a course to count towards the economics major.
The capstone requirement in economics is satisfied by any one of the following: (a) completing an approved 400-level elective course that includes a significant research component; (b) completing ECON 444 - Honors Seminar in the fall and defending an honors thesis in the spring; (c) conducting an independent project that includes a major paper. This capstone experience is in addition to the nine economics and two math courses required for the major and is to be undertaken during the senior year.
Math courses required for an economics major are 1) MATH 135 - Applied Multivariable Calculus I or MATH 137 - Applied Multivariable Calculus II and 2) MATH 155 - Introduction to Statistical Modeling . The department recommends that students take MATH 137 when possible.
Topics courses, which by college convention carry the number ECON 194 , ECON 294 , ECON 394 , or ECON 494 , may be taught at all levels of difficulty. Those topics courses for which only ECON 119 is prerequisite are the equivalent of 200 level courses for purposes of fulfilling the major requirements. Those for which a 200 level course is prerequisite are the equivalent of 300 level courses. Those for which ECON 361 , ECON 371 , and/or ECON 381 are prerequisite are generally classified as the equivalent of 400 level courses. Information on these classifications is included in Topics course descriptions or may be obtained from the department chairperson.