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The Stern economics department offers two concentrations: business economics and economic theory.  Both are designed to offer choices and flexibility, and include courses at Stern as well as  in the highly-regarded economics department at the College of Arts and Science (CAS).  

For course descriptions, prerequisites and course scheduling options, please review the Course Index.

You may concentrate in one of the two official economics areas: business economics or economic theory.

Business Economics Program

Students pursuing the business economics concentration will take the following:

Business Economics Concentration Requirements

Business Economics Program (12 units)

To complete the business economies program, students must complete the following courses in addition to Microeconomics (ECON-UB 1) and Economics of Global Business (ECON-UB 11):. At least two of the four courses must be taken at Stern from the following categories:
2 Advanced Economic Elective Courses Any ECON-UB elective.
2 Additional Economic Elective Courses Any ECON-UA 200-399, ECON-UB elective or approved course (see below).

Additional courses approved to count as Business Economics electives*

Game Theory MULT-UB 20
The Financial System MULT-UB 27

*Students who are double-concentrating in another Stern area where the courses on the list above would satisfy elective requirements cannot double count any courses taken toward the completion of their business economics concentration.
  • At least 2 of the 4 courses taken to satisfy the concentration requirement, must be taken in the Stern school. Many CAS electives require either Intermediate Macroeconomics (ECON-UA 12) or Intermediate Microeconomics (ECON-UA 10) as prerequisites; ECON-UB 1 is accepted as a prerequisite in lieu of ECON-UA 10.
  • Transfer students, who have not completed ECON-UB 1 at Stern, are required to take Intermediate Microeconomics (ECON-UB 10) or apply an equivalent course in Intermediate Microeconomics from a previous institution. Intermediate Microeconomics will not satisfy any of the concentration elective requirements.
  • The following CAS economics courses are not open to Stern students: Economic Principles I or II (ECON-UA 1 or ECON-UA 2); Intermediate Microeconomics (ECON-UA 10); Statistics (P) (ECON-UA 18); Money and Banking (ECON-UA 231); International Economics (ECON-UA 238); and Financial Economics (ECON-UA 368).

Economic Theory Program

The economic theory concentration is aimed at students looking for a more quantitative collection of courses. These courses are of interest to students considering graduate school in economics or finance, as well as those looking to develop a sound foundation in modern quantitative skills. Students are also encouraged to consider further mathematics and programming courses.

Economics Theory Concentration Requirements


Economic Theory Program Requirements

Complete the following courses in addition to Microeconomics (ECON-UB 1) and Economics of Global Business (ECON-UB 11):
Mathematics Calculus I & II (MATH-UA 121 & 122)


Linear Algebra (MATH-UA 140)

Or Equivalent courses

More course information
2 Courses from the Frontiers of Economics course sequence ECON-UB 232, 233, 234
2 Stern Economics elective courses or CAS 200- or 300-level Economics course ECON-UB XX, ECON-UA 2XX or ECON-UA 3XX

Choosing Between or Changing Economics Areas

Students pursuing either a business economics or especially an economic theory concentration, are encouraged to explore the option of augmenting the study of economics at Stern with advanced coursework in the CAS Mathematics department, possibly through the completion of a CAS Major in Mathematics. More information regarding the Mathematics Major can be found on the CAS Math Department’s Website ( Students interested in pursuing a major in any CAS area are encouraged to discuss this option and how it might fit into their overall curricular plan with their Stern Academic Adviser. If you are unsure which courses best fit your interests and career plans, please contact the Stern Office of Academic Advising and the economics department faculty adviser. Since sequencing is an issue, we urge you do do this early in your Stern career.