Students majoring in economics go on to develop their understanding of the theoretical foundations of modern economic thought and conclude with advanced study of one or more specialized areas: banking and finance, econometrics, industrial organization, international economics, labor markets, macroeconomics, microeconomics and public finance. An undergraduate major in economics prepares students for a range of opportunities after graduation. Economics majors frequently go on to work in finance, public and policy administration, and government or continue studies at the graduate level.
Two options are available for the major: Economics and Economics with a Mathematical Emphasis.
 The Economics option is a wellrounded program of study that, while requiring analytical skills and math proficiency, focuses more on examination of policy and economics concepts than on quantitative analysis or modeling.
 The Economics with Mathematical Emphasis option supplements the economics major with additional requirements in mathematical and statistical coursework. This option is recommended for students considering graduate studies in economics or pursuing a career as a professional economist or in an analyticsbased field.
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Requirements for Completion of Major: Economics Option
You must complete a total of 30 credits or more in Economics courses to complete the major. You must also fulfill the requirements outlined below.
1. Quantitative Reasoning
Before taking any economics courses you must complete Quantitative Reasoning, Part A, one of the university’s General Education Requirements.
2. Introduction to economic principles, complete either (a) or (b):
(a) Economics 101, Principles of Microeconomics, and Economics 102, Principles of Macroeconomics
(b) Economics 111, Principles of EconomicsAccelerated Treatment
3. Intermediate economic theory, complete both (a) and (b):
(a) Economics 301, Intermediate Microeconomic Theory, or Economics 311, Intermediate Microeconomic TheoryAdvanced Treatment
(b) Economics 302, Intermediate Macroeconomic Theory, or Economics 312, Intermediate Macroeconomics TheoryAdvanced Treatment
Note: Econ 301 and 302 are offered every semester. Econ 311 is only offered in the Fall and Econ 312 is only offered in the Spring.
4. Mathematics
It is recommended that you complete the calculus requirement before taking any economics courses.
Complete at least one semester of calculus. Math 221 is recommended.
5. Statistics
Complete Economics 310, Statistics: Measurement in Economics. Any other statistics courses should be discussed with an academic advisor in the economics department.
If you plan to pursue graduatelevel studies (in any field), you are encouraged to discuss your math and statistics options with an academic advisor.
6. Advanced Electives and Applied Fields
Complete at least two courses in Economics Advanced Electives from the following list: 400, 410, 435, 441, 442, 448, 450, 451, 455, 458, 460, 461, 464, 467, 468, 475, 503, 508, 521, 522, 530, 548, 570, 580, 621, 623, 661, 664, 666, 690, 695
Remaining credits to complete the major may be fulfilled with the following elective courses: 300, 305, 306, 315, 320, 321, 330, 343, 355, 364, 370, 371, 390, 420, 421, 449, 462, 465, 466, 473, 474, 477, 502, 524, 526, 531, 567, 641, 663, 671
NOTE: All students must also complete 15 credits of their upperlevel work in the major in residence, with at least two courses being Advanced Electives in Economics.
Requirements for Completion of Major: Economics with Mathematical Emphasis Option
You must complete a total of 30 credits or more in Economics courses to complete the major. You must also fulfill the requirements outlined below.
1. Quantitative Reasoning
Before taking any economics courses, you must complete Quantitative Reasoning, Part A, one of the university’s General Education Requirements.
2. Introduction to economic principles, complete either (a) or (b):
(a) Economics 101, Principles of Microeconomics, and Economics 102, Principles of Macroeconomics
(b) Economics 111, Principles of EconomicsAccelerated Treatment
3. Intermediate economic theory, complete both (a) and (b):
(a) Economics 301, Intermediate Microeconomics Theory, or Economics 311, Intermediate Microeconomic TheoryAdvanced Treatment
(b) Economics 302, Intermediate Macroeconomic Theory, or Economics 312, Intermediate Macroeconomic TheoryAdvanced Treatment
Note: Econ 301 and 302 are offered each semester. Econ 311 is only offered in the Fall and Econ 312 is only offered in the Spring. You must take Econ 311 and 312 if you are in the honors program.
4. Mathematics, complete either (a) or (b):
It is recommended that you complete at least one semester of calculus before taking any economics courses.
(a) Three semesters of calculus (Math 221, Math 222, and Math 234) and one semester of linear algebra (Math 320 or Math 340)
(b) Three semesters of Honors calculus (Math 275, Math 276, Math 375)
5. Statistics
Complete Economics 310, Statistics: Measurement in Economics. Any other statistics courses should be discussed with an academic advisor in the economics department.
If you plan to pursue graduatelevel studies (in any field), you are encouraged to discuss your math and statistics options with an academic advisor.
6. Advanced Electives and Applied Fields
Complete Economics 410, Introductory Econometrics, and three or more Advanced Electives in Economics from the following list: 435, 441, 442, 448, 450, 451, 455, 458, 460, 461, 464, 467, 468, 475, 503, 508, 521, 522, 530, 548, 570, 580, 621, 623, 661, 664, 666, 690, 695
Remaining credits to complete the major may be fulfilled with the following elective courses: 300, 305, 306, 315, 320, 321, 330, 343, 355, 364, 370, 371, 390, 420, 421, 449, 462, 465, 466, 473, 474, 477, 502, 524, 526, 531, 567, 641, 663, 671
NOTE: All students must also complete 15 credits of their upperlevel work in the major in residence, with at least two courses being Advanced Electives in Economics.
Academic Opportunities
How To Declare an Economics Major
If you aren’t declared yet, you can run a “WhatIf ” DARS Report to assess what courses you still need for your major in Economics. For directions on how to do this, view the following PowerPoint which will guide you through the process: How to Run a What If DARS for Economics
1. Meet the following requirements:

 Complete at least two economics courses on the UWMadison campus.
 Complete 1 calculus course.
 Earn a minimum GPA of 2.0 in all completed economics and calculus courses.
2. Complete the online declaration form and sign up for our virtual webinar: “Economics Unveiled: Your New Major”

 Students are welcomed and encouraged to meet with an economics career advisor as well (Elizabeth Foste or Ilsa May) however, career advisors are not able to meet with you to declare your major
 You will be emailed the link to the webinar the day before.
3. Attend the webinar! Currently scheduled dates are below:

 February 4 – Thursday at 10:30 am
 February 9 – Tuesday at 3:00 pm
 February 12 – Friday at 9:00 am
 February 22 – Monday at 2:00 pm
 March 11 – Thursday at 2:30 pm
 April 26 – Monday at 11:00 am
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If I passed a course with SD, will it count towards my major declaration requirements?
Yes, in congruence with the UWMadison Spring 2020 SD (SatisfactoryDisruption) and UD (UnsatisfactoryDisruption) special grading option: SD grade courses will count towards the Economics major declaration requirements, Economics major requirements, and will satisfy future Economics course prerequisites.
UD grades will not count towards any of these requirements.
Example: If a student is currently taking Economics 102 as their second oncampus course to declare, an SD grade will suffice to fulfill our major declaration requirements of ‘two completed courses on campus’
All students majoring in economics are required to take Economics 310, Statistics: Measurement in Economics, unless another course is approved by an economics academic advisor. Students planning to pursue graduate studies in economics or those with a strong math background are strongly encouraged to take courses in statistics and related topics beyond the requirements for the economics major. Related, recommended statistics courses include:
 Statistics 302, Accelerated Introduction to Statistical Methods
 Statistics 309, Introduction to Probability and Mathematical Statistics I
 Statistics 310, Introduction to Probability and Mathematical Statistics II
 Statistics (Math) 431, Introduction to the Theory of Probability
 Math 632, Introduction to Stochastic Processes
 Economics 410, Introductory Econometrics
If you plan to take any statistics courses other than what is required for the major, we encourage you to meet with an economics academic advisor to discuss the best course of study to fit your future plans.
Students in prebusiness who are considering economics as an additional major are encouraged to meet with an economics academic advisor to determine whether the statistics course offerings from the economics department or business school best suit your needs.
Similarly, students considering a double major in economics and either statistics or math should consult academic advisors in both departments. Some courses can be counted toward the requirements for both majors, but some course sequences may limit future opportunities, so it is best to consult the advisors prior to enrolling in courses.