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.180.301, AS.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
| Code | Title | Credits |
|---|---|---|
| Economics Core | ||
| AS.180.101 | Elements of Macroeconomics 1 | 3 |
| AS.180.102 | Elements of Microeconomics 1 | 3 |
| AS.180.301 | Microeconomic Theory 2 | 4.5 |
| or AS.180.401 | Advanced Microeconomic Theory | |
| AS.180.302 | Macroeconomic Theory | 4.5 |
| AS.180.334 | Econometrics 3 | 3 |
| or AS.180.434 | Advanced Econometrics | |
| Economics Electives | ||
| Three 200- or 300-level economics courses 4 | 9 | |
| Two 300-level economics courses | 6 | |
| Mathematics | ||
| AS.110.106 | Calculus I (Biology and Social Sciences) | 4 |
| or AS.110.108 | Calculus I (Physical Sciences & Engineering) | |
| Statistics | ||
| EN.553.111 | Statistical Analysis I | 4 |
| 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 Credits | 41 | |
| 1 | Students who use exam credits to satisfy the AS.180.101 Elements of Macroeconomics and/or AS.180.102 Elements of Microeconomics requirements must take additional courses in the department to reach a total of 10 courses in the department. |
| 2 | AS.180.401 Advanced Microeconomic Theory is a faster-paced and more intensive version of AS.180.301 Microeconomic Theory. You can use either AS.180.301 Microeconomic Theory or AS.180.401 Advanced Microeconomic Theory to satisfy the requirement for the economics major. Both AS.180.301 Microeconomic Theory and AS.180.401 Advanced Microeconomic Theory will be offered during the same time slot, so the logistics of switching from AS.180.301 Microeconomic Theory to AS.180.401 Advanced Microeconomic Theory should be seamless, should you decide to make the switch. The prerequisites for AS.180.401 Advanced Microeconomic Theory, like the prerequisites for AS.180.301 Microeconomic Theory, are AS.180.102 Elements of Microeconomics and one semester of calculus. Note: you may not take both AS.180.301 Microeconomic Theory and AS.180.401 Advanced Microeconomic Theory. |
| 3 | AS.180.434 Advanced Econometrics is a faster-paced and more intensive version of AS.180.334 Econometrics. You use can either AS.180.334 Econometrics or AS.180.434 Advanced Econometrics to satisfy the requirement for the economics major. Both AS.180.334 Econometrics and AS.180.434 Advanced Econometrics will be offered during the same time slot, so the logistics of switching from AS.180.301 Microeconomic Theory to AS.180.401 Advanced Microeconomic Theory should be seamless, should you decide to make the switch. Note: You may not take both AS.180.334 Econometrics and AS.180.434 Advanced Econometrics. Also Note: In Spring 2018 we will again offer both AS.180.334 Econometrics and AS.180.434 Advanced Econometrics. |
| 4 | Please note: AS.180.203 Faculty Research in Economics, a S/U one-credit course, does not count as one of these three courses. |
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 Econometrics, AS.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 Semester | Credits | Second Semester | Credits |
| AS.180.101 | 3 | AS.180.102 | 3 |
| AS.110.106 | 4 | EN.553.111 | 4 |
| 7 | 7 | ||
| Second Year | |||
| First Semester | Credits | Second Semester | Credits |
| AS.180.301 | 4.5 | AS.180.302 | 4.5 |
| 200 level elective | 3 | 200 or 300 level elective | 3 |
| 7.5 | 7.5 | ||
| Third Year | |||
| First Semester | Credits | Second Semester | Credits |
| AS.180.334 | 3 | 300 level elective | 3 |
| 200 or 300 level elective | 3 | ||
| 6 | 3 | ||
| Fourth Year | |||
| First Semester | Credits | Second Semester | Credits |
| 300 level elective | 3 | 200 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 Theory, AS.180.302 Macroeconomic Theory, AS.180.521 Research in Economics and AS.180.522 Senior Thesis.