GENERAL INFORMATION ON CERTIFICATES IN ECONOMICS
The Department of Economics has six different certificate
programs. Five of these programs are
concentrations for declared economics majors or students who complete the quantitative economics minor, while the other one is open to
nonmajors. The certificates for economics majors are in financial economics, global economics, public policy economics, economic theory, and computational economics and data analytics. These
certificates are meant to provide economics majors with an incentive to plan
and organize their thinking and course selection along several specific career
paths. There are specific grade requirements, including a minimum overall grade-point average (GPA) of 3.0 to receive the certificate, and a minimum B grade for all courses
taken to satisfy the certificate requirements.
These certificates are uniform in requiring four courses from a
select list of mainly upper-level economics electives, including a core course
for the certificate, which may be a specific course or one course from a short
list of courses. In the latter situation, other courses in the core list may
also be used to satisfy the overall course requirement for the certificate.
Note that the certificate in economic theory has some additional course
requirements outside of economics.
A certificate program open to nonmajors is the certificate
in quantitative economics (CQE). This certificate entails significant coursework in mathematics, statistics, and computer science, as well as in economics.
Certificates are noted on the student's transcript at
graduation and may be listed on a CV or résumé as an additional credential.
Details on all of the certificate programs follow.
Certificate in Financial
Economics: This concentration
provides students with a deep background in the institutions, theory,
quantitative practice, and history of the important field of financial
economics. Students completing this certificate are well prepared for a career
in Wall Street or for graduate study in economics, quantitative finance, or
financial engineering. Besides the normal core courses for the economics major,
students take four of the following courses as part of the seven electives
required for the major. One of these is a required core course. In addition, students matriculating in fall 2019 or later must take either 01:220:400, 444, or 481 as one of their electives to complete the certificate.
Core:
220:413 Financial Economics
Electives (three courses):
220:400 Advanced Time Series and Financial Econometrics
220:414 Economics of Capital Markets
220:415 Portfolio Theory
220:421 Economic Forecasting and Big Data
220:444 Financial and Monetary History of the United States
220:481 Economics of Uncertainty
220:484 Market Discipline
Certificate in Global
Economics: This concentration
is for students with an interest in global economic issues, including the
international business cycle, long-term economic growth, balance of payments
issues, integration of international markets, and economic development. This
certificate is a good preparation for employment in the Federal Reserve System
or other central banks and in international organizations such as the IMF, the
World Bank, and the UN, and for graduate study in international relations,
public policy, or economics. Besides the normal core courses for the economics
major, students take four courses, including one core course, as part of the
seven electives required for the major.
Core: One of the following courses:
220:300 International Economics
220:435 International Trade
220:436 International Finance and Macroeconomics
Electives: Three of the following courses, with the option of
including an additional course from the core list above. Note that only two of
the three core courses may be used for credit toward the economics major, and
this general rule applies to the certificate as well. Also, only one 300-level
course, either 220:300 or 220:307, may count toward the certificate.
220:307
Economics of Globalization: A Historical Perspective
220:422 Advanced Econometrics for Microeconomic Data
220:423 Advanced Times Series and Financial Econometrics
220:439 Economic Development
220:443 European Economic History
220:449 Transition Economics
220:470 Economic Growth
220:477 Economics of Population
Certificate in Public Policy
Economics: The certificate in public policy economics is intended for students with an interest in working on
fundamental policy issues related to labor, health, taxation, the environment,
economic equality, gender, and other microeconomic issues. Employment in state
and federal government agencies, in nonprofit or nongovernmental policy
organizations, or graduate study in economics or public policy, are likely
career paths. Besides the normal core courses for the economics major, students
take four of the electives listed below as part of the seven electives required
for the major. One of these is a required core course.
Core: One of the following courses:
220:402 Labor Economics
220:417 Health Economics
220:460 Public Economics
Electives: Three of the following courses, with the option of
including additional courses from the core list above. At least two of these
courses must be 400 level.
220:305 American Economic History
220:331 Economics of Crime
220:403 Special Topics in Labor Markets
220:422 Advanced Econometrics for Microeconomic Data
220:432 Environmental Economics
220:438 Education Economics
220:463 Economics of Taxation
220:464 Personal Economics and Public Policy
220:475 Women, Men, and the Economy
Certificate in Economic Theory: The certificate in economic theory is appropriate for
students with a strong mathematical preparation who wish to deepen their
understanding of microeconomic theory. This track is particularly recommended
for students who would like to be better prepared for graduate study in
economics. Students are advised to fulfill the major Calculus I requirement with 01:640:151 rather than 01:640:135. Besides the normal core requirements, students take Calculus II
(640:152), Linear Algebra (640:250), and the sequence of Mathematical Theory of
Probability (640:477) and Mathematical Theory of Statistics (640:481), or the
sequence of Theory of Probability (960:381) and Theory of Statistics (960:382).
The 477/481 math sequence or the 381/382 statistics sequence can substitute for
960:285 in the major core. For the seven electives for the major, students must
take at least four courses, including one core course. With instructor
approval, appropriate courses in the economics Ph.D. program may be used as
electives as well. Students who aspire to enroll in a Ph.D. program in economics
are encouraged, though not required for the certificate, to take additional
mathematics courses, including Multivariable Calculus (640:251), Elementary
Differential Equations (640:252), and Real Analysis (640:300 and 640:311). There
are specific grade requirements, including a minimum overall GPA of 3.0 to
receive the certificate, and a minimum B grade for all courses taken to satisfy
the certificate requirements.
Core: One course from the following:
220:481 Economics of Uncertainty
220:482 Game Theory and Economics
Electives: Three courses from the following, with the option of
including an additional course from the core list above:
220:327 History of Economic Thought
220:410 Advanced Macroeconomic Theory
220:441 Industrial Organization
220:480 Behavioral and Experimental Economics
220:483 Economics of Information
220:485 Advanced Microeconomic Theory
220:486 Operations Research I
220:487 Operations Research II
220:489 Topics in Advanced Economic Theory
Certificate in
Quantitative Economics: The certificate in quantitative economics (CQE) is intended
to enhance economics education for exceptional students in a cost-effective
manner. Building on the existing major requirements, the certificate will be
awarded to students who complete additional courses in mathematics, statistics,
and computer science. The certificate is available to both economics majors and
minors.
Requirements
The CQE will be overseen by a faculty adviser appointed by
the undergraduate director. Interested students should meet with the adviser as
early as possible. Students will continue to meet with the adviser each
semester to review their progress. To receive the certificate, students must
maintain a B average in the economics major/minor and in the additional
certificate courses.
1. Mathematics: Calculus for Mathematical and Physical
Sciences (640:151,152) or Honors Calculus (640:191,192) or equivalent (Note:
640:135 will be accepted in place of 640:151 but 640:136 does not satisfy the
prerequisite for 640:251 Multivariable Calculus. Students must take 640:152 [or
192].)
2. Linear Algebra (640:250)
3. Multivariable Calculus (640:251 or Honors 640:291)
4. Statistics: Theory of Probability (960:381) and Theory of
Statistics (960:382) or Mathematical Theory of Probability (640:477) and Theory
of Statistics (640:481); students considering a minor in math should normally
take these courses.
Note: The two-course sequence (960:381-382 or 640:477,481)
will substitute for the normal economics statistics requirement.
5. Computer Science:
01:198:111 Introduction to Computer Science
01:198:212 Data Structures
6. Economics: All four of the following courses:
01:220:102 Introduction to Microeconomics
01:220:103 Introduction to Macroeconomics
01:220:230 Intermediate Microeconomic Analysis
01:220:322 Econometrics
(Intermediate Macroeconomic Analysis (220:321) is not a requirement for the CQE, but it is a prerequisite for some of the economics courses a student might wish to take for the CQE.)
Two courses from the following, at least one of which must be 400, 401 or 421:
01:220:420 Computational Methods for Research in
Economics*
01:220:421 Economic Forecasting and Big Data*
01:220:422
Advanced Econometrics for Microeconomic Data*
01:220:423 Advanced Time Series and
Financial Econometrics*
01:220:481 Economics of Uncertainty
01:220:482 Game Theory and Economics
01:220:483 Economics of Information
01:220:485 Advanced Microeconomic Theory
01:640:485 Introduction to Mathematical Finance
(*Indicates that the course requires Intermediate Macroeconomic Analysis [220:321] as a prerequisite.)
Certificate In Computational Economics and Data Analytics: This concentration certificate provides students with a deep background in advanced tools for analysis of economic data, including traditional regression methods commonly used in economics, as well as more computationally intensive methods, such as machine learning. Students completing this certificate will be well prepared for positions in a wide range of business and government organizations where high throughput analysis of incoming data is valued. The certificate is also an excellent preparation for graduate study in economics or decision sciences, particularly for areas where computational modeling of economic decision-making and analysis of data from decision-making is the focus. Students can choose from advanced econometrics and theory courses in economics. Students planning to pursue this certificate should have a strong aptitude and interest in both econometrics and economic theory, and are recommended to complete econometrics (01:220:322) and calculus II (01:640:136 or 152) as early as possible.
A total of four courses, each with a grade of B or better, are required, as well as an overall GPA of at least 3.0. This certificate may be completed either through selection of appropriate electives, as part of the major in economics, or by completing three additional courses beyond those required for the minor in quantitative economics.
Required
01:220:420 Computational Methods for Research in Economics
Data Methods electives (at least one from this list):
01:220:421 Economic Forecasting and Big Data
01:220:422 Advanced Econometrics for Microeconomic Data
01:220:423 Advanced Time Series and Financial Economics
01:220:424 Advanced Analytics for Economic Data
Economic Theory electives (at least one from this list):
01:220:480 Behavioral and Experimental Economics
01:220:481 Economics of Uncertainty
01:220:482 Game Theory and Economics
01:220:483 Games, Markets, and Information
01:220:485 Advanced Microeconomic Theory
01:220:488 Networks and Complexity in Economics
