The Department of Economics’ undergraduate program provides rigorous training in theoretical and empirical economics. Students first take foundational courses in microeconomics, macroeconomics and econometrics. They can then take advanced courses in a broad array of fields (e.g., industrial organization, public finance, environmental economics, and international trade).
The Microeconomics courses (Econ 1, 11, 101) study the component parts of the economy, such as the purchasing decisions of a consumer, or the production decisions of a firm. We then put these components together in order to analyze how markets function, and how they can be improved.
The Macroeconomics courses (Econ 2, 102) ask how different parts of the economy aggregate, generating business cycles and economic growth. The models are then used to study how economic policies affect output, unemployment, and inflation.
The Econometrics courses (Econ 41, 103/103L) provide students with the empirical tools needed to test these theoretical models. They allow students to assess the impact of a policy (e.g., education) on economic variables (e.g., wages), and provide techniques to separate correlation and causation.