Economics Major Requirements

(Also see Requirements for a Bachelor's Degree.)

The introductory courses AS.180.101 Elements of Macroeconomics and AS.180.102 Elements of Microeconomics are open to all students. Courses at the 200-level have Elements of Economics (AS.180.101 and AS.180.102) as prerequisites.

AS.180.301 Microeconomic Theory (or AS.180.401 Advanced Microeconomic Theory see below) and AS.180.302 Macroeconomic Theory courses have AS.180.101 Elements of Macroeconomics and AS.180.102 Elements of Microeconomics as well as Calculus I (AS.110.106 or equivalent) as prerequisites. (AS.180.301 Microeconomic Theory can be taken concurrently with AS.180.101 Elements of Macroeconomics but only if student has completed AS.180.102 Elements of Microeconomics.) All 300-level courses above 301 and 302 have Microeconomic and/or Macroeconomic Theory (AS.180.301AS.180.302) as prerequisites (or, with permission of the instructor, corequisites), as well as Elements of Economics and Calculus. Some 300-level courses have additional prerequisites; see individual course listings. Independent study is available, subject to the consent of the department and of the faculty member with whom the student wants to work.

Subject to the consent of the instructor, graduate courses at the 600-level are open to qualified undergraduates. The 600-level courses for which advanced undergraduates are most likely to be qualified are AS.180.601 Consumer & Producer Theory and AS.180.603 Macroeconomic Theory I.

For the economics major, a minimum grade of C- or better is required for all courses meeting the requirements and courses may not be taken satisfactory/unsatisfactory. Courses directly equivalent to JHU courses from study abroad or taken at other universities may count towards requirements; however non-direct equivalent courses must be approved by the department’s director of undergraduate studies. In all cases, at least 5 of the 10 required economics courses of the major must be taken at JHU.  Internships, independent studies, and intersession courses do not apply towards major requirements. 

Major Requirements

Economics Core
AS.180.101Elements of Macroeconomics 13
AS.180.102Elements of Microeconomics 13
AS.180.301Microeconomic Theory 24.5
or AS.180.401 Advanced Microeconomic Theory
AS.180.302Macroeconomic Theory4.5
AS.180.334Econometrics 33
or AS.180.434 Advanced Econometrics
Economics Electives
Three 200- or 300-level economics courses 49
Two 300-level economics courses6
Mathematics
AS.110.106Calculus I (Biology and Social Sciences)4
or AS.110.108 Calculus I (Physical Sciences & Engineering)
Statistics
EN.553.111Statistical Analysis I4
or EN.553.112 Statistical Analysis II
or EN.553.211 Probability and Statistics for the Life Sciences
or EN.553.310 Probability & Statistics for the Physical Sciences & Engineering
or EN.553.311 Probability and Statistics for the Biological Sciences and Engineering
or EN.553.420 Introduction to Probability
or EN.553.430 Introduction to Statistics
or AS.280.345 Public Health Biostatistics
Total Credits41

Additional Notes for Students

  • EN.553.111 Statistical Analysis I or equivalent (any of the Statistics courses listed above) is a prerequisite for Econometrics.
  • Except for AS.180.301 Microeconomic Theory, AS.180.302 Macroeconomic Theory, AS.180.334 EconometricsAS.180.521 Research in Economics, and AS.180.522 Senior Thesis the department does not necessarily offer all 200- to 500-level courses every year. Students should plan their programs accordingly, in consultation with faculty.
  • The Senior Honors Thesis sequence (AS.180.521 Research in Economics and AS.180.522 Senior Thesis) cannot be used to satisfy any of the requirements for the major. Anybody interested in pursuing the senior honors thesis should discuss this with the student's academic advisor not later than the end of the fall semester junior year.

Sample Program of Study

A typical program might include the following sequence of courses:

First Year
First SemesterCreditsSecond SemesterCredits
AS.180.1013AS.180.1023
AS.110.1064EN.553.1114
 7 7
Second Year
First SemesterCreditsSecond SemesterCredits
AS.180.3014.5AS.180.3024.5
200 level elective3200 or 300 level elective3
 7.5 7.5
Third Year
First SemesterCreditsSecond SemesterCredits
AS.180.3343300 level elective3
200 or 300 level elective3 
 6 3
Fourth Year
First SemesterCreditsSecond SemesterCredits
300 level elective3200 or 300 level elective (optional)
 3 0
Total Credits 41
  • The total credit count for the major includes AS.110.106 and EN.553.111. Students trying to take these courses after freshman or sophomore year are likely to run into serious schedule conflicts in the junior and senior years because of the need to fulfill the prerequisites for advanced courses. Consult with faculty at an early stage.

Honors in Economics

Departmental honors are awarded to those students who satisfy the following requirements:

  • All economics courses applied to the major have been taken in the department.
  • AS.180.521 Research in Economics and AS.180.522 Senior Thesis. The thesis may not be counted as one of the five economics electives.
  • A grade point average of at least 3.5 for all economics courses.
  • A grade point average of at least 3.5 for AS.180.301 Microeconomic TheoryAS.180.302 Macroeconomic TheoryAS.180.521 Research in Economics and AS.180.522 Senior Thesis.