Economics, B.A.

Universal Curriculum Requirements

Prerequisites for Declaring the Major

Economics GPA

1. Achieve an economics grade point average (GPA) of at least 2.3; the economics GPA is a weighted measure of all 2000 level or higher economics (ECON) courses taken at the University with the following exceptions:

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2. Grades received in courses taken outside the Unviersity’s Economics Department, such as transfer courses or direct credit courses offered through study abroad programs, are not included in the economics GPA.

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3. If a student is granted economics elective credit for a course taken in another school or department at the University of Virginia, the grade received in that course is not included in the student’s economics GPA.

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4. HIUS 2061

   American Economic History

   As published: “is cross-listed as ECON 2060, and HIEU 2051 was cross-listed as ECON 2050 until Spring 2015. ECON 2060 is (and ECON 2050 was) the same whether taught under history or economics numbers. A grade in HIUS 2061 (or HIEU 2051 tkaen before Spring 2015), therefore, would be included in the economics GPA.”
   3
5. If a student fails and course then retakes it, both grades – the failing grade and the grade received on the retake – enter into the computation of the economics GPA. If a student has taken and passed a course, grades receive on any subsequent retake(s) are not included in the student’s economics GPA.

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Calculus

1. MATH 1190

   A Survey of Calculus I with Algebra
   4
2. MATH 1210

   A survey of Calculus I
   3
3. MATH 1310

   Calculus I
   4
4. APMA 1090

   Single Variable Calculus I
   3

Additional Information

1. Students who fail to obtain a C+ on their first attempt are permitted to try to meet the prerequisite a second time. Students who twice fail to obtain a grade of at least C+ in these courses, whether in the same or different courses, are ineligible to declare the economics major. Students considering the concentration in financial economics or graduate work in economics are encouraged to take MATH 1310 and MATH 1320 (or APMA 1110 and APMA 2120) instead of MATH 1210 and MATH 1220.

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2. b. Pre­-matriculation transfer credit or a grade of C+ or above in MATH 1220, MATH 1320, or APMA 1110 will be accepted in lieu of calculus I to fulfill the prerequisite. However, rule 3a still applies. Students who receive a grade below C+ in Calc I and choose to take Calc II instead of repeating Calc I are using up their second chance under rule 4a above. If they receive a grade below C+ in Calc II, they are ineligible for the major.

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3. c. Students who matriculate at the University with AP or transfer credit for one of the aforementioned calculus I or II courses are exempt from this prerequisite. Transfer credit cannot be used to satisfy this requirement after one has begun taking classes at the University.

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Intermediate Microeconomics

1. ECON 3010

   Intermediate Microeconomics
   4
2. ECON 3110

   Mathematical Microeconomics
   4

Additional Information

1. Students who fail to obtain a C+ on their first attempt at completing ECON 3010 (or ECON 3110) are permitted to retake ECON 3010 (or ECON 3110) once. Those who fail to get a grade of at least C+ in two attempts are not eligible to declare an economics major.

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2. Credit is not given for both ECON 3010 and ECON 3110, and these courses are considered the same course for the purposes of this requirement.

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3. Students who have transfer credit for ECON 3010 at the time that they matriculate at the University are exempt from this prerequisite. Transfer credit cannot be used to satisfy this requirement after one has begun taking classes at the University.

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Statistics

1. STAT 2120

   Introduction to Statistical Analysis
   4
2. STAT 3120

   Introduction to Mathematical Statistics
   3
3. APMA 3110

   Applied Statistics and Probability
   3
4. APMA 3120

   Statistics
   3

Additional Information

1. Students who fail to obtain a C+ on their first attempt are permitted to try to meet the prerequisite a second time. Students who twice fail to obtain a grade of at least C+ in the statistics courses listed above, whether in the same or different courses, are ineligible to declare the economics major.

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2. Students who matriculate at the University with AP or transfer credit for one of the aforementioned statistics courses are exempt from this prerequisite. Transfer credit cannot be used to satisfy this requirement after one has begun taking classes at the University.

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Note

Declaring the Major

Program Requirements

1. Students must achieve at least a 2.0 economics GPA in order to graduate.

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2. Students who finish their sixth semester with an economics GPA below 2.0 will be dropped from the major.

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3. Certain courses can be transferred towards the major after a student starts at UVA (post-matriculation), however, certain restrictions apply. For more details, please see the Transfer Credit section on the department’s website.

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4. Transfer students must meet all prerequisites. They cannot automatically declare the major. Third-year transfer students considering the economics major are strongly advised to contact the Undergraduate Program Coordinator before selecting courses.

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5. No course taken credit/no credit may be used to satisfy major and concentration requirements.

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6. Students who declare their economics major after Fall 2011 must complete at least four courses in economics at the University of Virginia to graduate as economics majors, whatever transfer credit they may have received for work done elsewhere. For purposes of this rule, any class taught at the University of Virginia in another school or department of the University that is routinely accepted for major credit can be counted towards the total of four courses.

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Core Requirements

1. ECON 2010

   Principles of Economics: Microeconomics
   3
2. ECON 2020

   Principles of Economics: Macroeconomics
   3
3. Each of the Following:

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4. ECON 3010

   Intermediate Microeconomics

   or: ECON 3110 - Mathematical Microeconomics
   4
5. Each of the Following:

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6. ECON 3720

   Introduction to Econometrics

   or: ECON 4720 - Econometric Methods
   4
7. And

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8. ECON 3020

   Intermediate Macroeconomics
   3

NOTES

1. Students entering the University with transfer credit for ECON 3010 (or 3020) on their transcript, but do not have credit for ECON 2010 (or 2020), are exempt from ECON 2010 or 2020, respectively. However, they will be required to complete one additional ECON elective; in other words, a total of 5 ECON electives must be completed for the major.

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2. Students who completed STAT 3220 before Fall 2013 may use it to meet the ECON 3720 (or 4720) requirement.

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3. Declared majors must complete ECON 2010, ECON 2020, ECON 3010 (or 3110), and ECON 3720 (or 4720) by the end of the sixth semester or they will be dropped from the major. Students wishing to declare an economics major later than the end of their sixth semester must have already completed all of these courses.

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Elective Courses

1. Students must complete 4 elective economics courses, each of which must be at least 3 credit hours.

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2. At least 2 courses must be numbered 4000 or above and no more than one 2000 level elective.

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3. No economics courses numbered 1000-1999 may be used towards the economics major.

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Concentrations in Economics

1. Concentrations are optional, but economics majors whose interests are heavily focused on one of the following areas may want to declare a concentration.

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2. Courses taken for a concentration are also considered major electives, unless the course is already specifically required for the major (i.e. Intermediate Microeconomics, Econometrics).

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3. Students should keep in mind that elective courses applicable to a concentration are not guaranteed to be offered on a consistent basis.

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4. Elective courses taken for a concentration may not be shared with another concentration. In other words, the concentration must stand alone with its own set of elective courses.

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5. Concentrations must be declared in the student’s 7th term at latest.

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Concentration in Financial Economics

Prerequisites for Declaring the Concentration

Requirements

1. MATH 3350

   Applied Linear Algebra
   3
2. MATH 3351

   Elementary Linear Algebra
   3
3. APMA 3080

   Linear Algebra
   3

Requirements

1. ECON 3720

   Introduction to Econometrics
   4

Requirements for Completing the Concentration

Requirements

1. ECON 3030

   Money and Banking
   3

Requirements

1. ECON 4340

   The Theory of Financial Markets
   3
2. ECON 4350

   Corporate Finance
   3
3. ECON 4365

   Global Financial Markets
   3
4. ECON 4370

   Behavioral Finance
   3
5. COMM 3720

   Intermediate Corporate Finance
   3

Requirements

1. ECON 4360

   Empirical Finance
   3

Requirements

1. CGBM 2110

   Accounting for Business
   1.5
2. CGBM 2710

   Making Financial Decisions
   1.5

Concentration in Industrial Organization

Requirements for Completing the Concentration

1. ECON 4190

   Industrial Organization
   3
2. Any TWO of the Following:

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3. ECON 4010

   Game Theory
   3
4. ECON 4020

   Auction Theory and Practice
   3
5. ECON 4110

   Competitive Strategy
   3
6. ECON 4170

   The Economics of Risk, Uncertainty, and Information
   3
7. ECON 4200

   Antitrust Policy
   3
8. ECON 4390

   The Economic Theory of Advertising
   3
9. ECON 4195

   Empirical Industrial Organization
   3
10. For more information on the concentration in industrial organization, contact the Undergraduate Program Coordinator.

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Concentration in International Economics

Requirements for Completing the Concentration

1. ECON 4210

   International Trade: Theory and Policy
   3
2. ECON 4220

   International Finance and Macroeconomics
   3
3. ECON 3640

   The Economics of Africa
   3
4. ECON 4230

   Seminar on Trade and Development
   3
5. ECON 4610

   Economic Development
   3
6. ECON 4620

   Seminar on Development Economics
   3
7. For double majors in economics and politics, the course listed below is also accepted as an elective for the concentration.

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8. PLIR 4410

   Political Economy of Foreign Direct Investment
   3
9. For more information on the concentrationin international economics, contact the Undergraduate Program Coordinator.

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Concentration in Public Policy

Requirements for Completing the Concentration

1. ECON 3010

   Intermediate Microeconomics

   or: ECON 3110 - Mathematical Microeconomics
   4
2. AND

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3. ECON 3720

   Introduction to Econometrics

   or: ECON 4720 - Econometric Methods
   4
4. ECON 4310

   Economics of the Public Sector
   3
5. To declare the concentration in the second-to-last semester at the University, a major who has satisfied the microeconomics requirement must have completed, or be enrolled in, ECON 4310.

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6. To graduate with the concentration, a major must meet the ordinary requirements for the major and complete the following:

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7. ECON 4310

   Economics of the Public Sector

   As published: “Economics of the Public Sector,”
   3
8. ECON 4880

   Seminar in Policy Analysis
   3
9. At least two of the following courses:

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10. ECON 3040

    The Economics of Education
    3
11. ECON 3430

    Economics of Sustainability and the Environment
    3
12. ECON 4080

    Law and Economics
    3
13. ECON 4150

    Economics of Labor
    3
14. ECON 4160

    Economics of Health
    3
15. ECON 4200

    Antitrust Policy
    3
16. ECON 4210

    International Trade: Theory and Policy
    3
17. ECON 4220

    International Finance and Macroeconomics
    3
18. ECON 4230

    Seminar on Trade and Development
    3
19. ECON 4420

    Macroeconomic Policy
    3
20. ECON 4430

    Environmental Economics
    3
21. ECON 4440

    Economic Inequality
    3
22. ECON 4445

    Policy Analysis
    3
23. ECON 4610

    Economic Development
    3

Distinguished Majors Program

1. Each student must take the Distinguished Majors Seminar (ECON 4990) in the fall of the fourth year.

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2. Each student will complete a DMP thesis (ECON 4999), independent research under the supervision of an economics faculty member. The thesis is due in April.

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Additional Information