Major & Requirements

Economics Major Requirements

Economic problems center around the allocation of scarce resources to provide goods and services for society. The major program in Economics is to provide students with the analytical tools, problem solving ability, and insight necessary to address such fundamental questions. Students are trained to analyze business and financial conditions, wage and tax policies and international trade, and to understand theories explaining causes of unemployment and inflation.

Students majoring in Economics may earn either a B.A. or B.S. degree in the College of Arts and Sciences, or a B.S. degree in the Farmer School of Business. The same core Economics courses are taken by all three majors, and the choice between the three depends upon your academic interests and career goals. The Business major provides students with a strong background in the fundamental skills and knowledge of business. The B.A. in Arts and Sciences major receives a more traditional liberal education. The B.S. in Arts and Science, the Quantitative Economics major, requires six additional hours of economics and twenty hours of related courses in mathematics, statistics, or decision sciences.

Miami Plan and School of Business Requirements

  • The BS in ECO is based on the Miami Plan foundation courses that consist of 36 hours in areas outside of the School of Business.  In addition, the School of Business core includes 45 hours of courses from all the business disciplines.
  • The University and the School of Business have a capstone requirement.  ECO 427 satisfies the University capstone requirement, but not the Business School requirement.  ECO 405 satisfies both the University and the School of Business capstone requirements.  Economics Majors do NOT have to take their capstone course from the Economics Department.  A list of all University capstones may be found here and a list of all Business School capstones may be found here.  Note that all Business School capstones are also University capstones. 

Economics Course Requirements for Bachelor's Degree Program - B.S. in Business and B.A.

All of these:

For Students Entering Miami during the 2001-02 school year or later:

  • ECO 201 Principles of Microeconomics (3)
  • ECO 202 Principles of Macroeconomics (3)
  • ECO 311 Exploring Economic Data and Models (3)
  • ECO 315 Intermediate Microeconomic Theory (3)
  • ECO 317 Intermediate Macroeconomic Theory (3)
  • AND Fifteen (15) additional hours at the 300-400 level at least six (6) of these hours must be advanced courses that have prerequisite of ECO 315 and/or ECO 317.  ECO 315 & 317 Must be taken at Miami.

For the B.S. in Quantitative Economics

Must take 36 total hours in Economics including ECO 414 or ECO 465. ECO 465 is taught infrequently, so to replace it you may choose one additional Economics or Mathematics course (alternative courses must be approved by the Departmental Chief Advisor, ideally before the student enrolls in the course).

The B.S. in Quantitative Economics also requires related courses in Mathematics and Statistics. See here for the related course requirements.

The Economics Department strongly suggests that you consult your academic advisor before choosing your additional hours.

Advanced Courses in Economics

  • ECO 414 Mathematical Microeconomics
  • ECO 416 Topics in Microeconomics
  • ECO 417 Topics in Macroeconomics
  • ECO 418 Monetary Theory and Policy
  • ECO 419 Business Cycles
  • ECO 423 History of Economic Analysis
  • ECO 427 The Great Depression Revisited
  • ECO 441 International Trade and Commercial Policy
  • ECO 442 International Monetary Relations
  • ECO 451 Economic History
  • ECO 461 Industrial Organization and Public Policy
  • ECO 462 Economics of Compensation, Discrimination, and Unionization
  • ECO 465 Game Theory

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