Economics
Major or Concentrate in Economics
For course descriptions, prerequisites and course scheduling options, please review the Course Index.
You may major/concentrate in one of the two official economics areas: business economics or economic theory.
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Business Economies Program (12 units)
| | To complete the business economies program, students must complete the following courses. At least two of the four courses must be taken at Stern from the following categories: | | 1 Category A Course | | | 3 Economic Elective Courses | These can be selected from the Elective list or Category A |
Category A | | Competitive Analysis | ECON-UB 15 | | Game Theory | MULT-UB 20 | | Intermediate Macroeconomics | ECON-UA 12 | | Time Series Tools for Macroeconomics and Finance | ECON-UB 232 | | Macroeconomics Foundations for Asset Prices | ECON-UB 233 | | Advanced Topics in Modern Macroeconomics | ECON-UB 234 |
Note: Students who double concentrating in marketing, finance, or management or co-concentration in global business cannot double count any courses taken toward the completion of their business economics concentration. Stern Economic Elective Courses | | Any CAS 200- or 300-level Economics Courses** | ECON-UB XX | | | ECON-UA 2XX or ECON-UA 3XX
(All prerequisites must be observed.)
| | Topics in Emerging Financial Markets | FINC-UB 23 | | Behavioral Finance | FINC-UB 29 | | Social Enterprise & Economic Development: The Indian Context | MULT-UB 25 | | Global Macroeconomic Issues | MULT-UB 230 |
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At least two of the four courses must be taken at Stern from the following categories: Business Economies Program (12 unites) | | To complete the business economies program, students must complete the following courses: | | 1 Category A Course | ECON-UB XX | | 1 Category B Course | Please see list of approved Category B courses | | 2 Economic Electives | These 2 elective courses can be selected from Category A or B and the list of Economics electives. | Category A Courses | | Any ECON-UB Stern Economics Elective | ECON-UB XX | Category B Courses | | Competitive Analysis | ECON-UB 15 | | Pricing Strategies | MKTG-UB 53 | | Intermediate Macroeconomics | ECON-UA 12 | | Game Theory | MULT-UB 20 | | Global Macroeconomic Issues | MULT-UB 230
Should not be taken in addition to ECON-UA 12 Intermediate Macroeconomics
| | Time Series Tools for Macroeconomics and Finance | ECON-UB 232 | | Macroeconomics Foundations for Asset Prices | ECON-UB 233 | | Advanced Topics in Modern Macroeconomics | ECON-UB 234 | Stern Economics Elective Course | | Any CAS 200- or 300-level Economics Courses** | ECON-UB XX | | ECON-UA 2XX or ECON-UA 3XX | ECON-UA
All prerequisites must be observed. | | Topics in Emerging Financial Markets | FINC-UB 23 | | Behavioral Finance† | FINC-UB 29 | | Social Enterprise & Economic Development: The Indian Context | MULT-UB 25 | | International Financial Management | FINC-UB 30
Only counts as advance elective for class of 2013 & 2014. Does not count as elective for class of 2015+ | | Futures and Options | FINC-UB 43
Only counts as advance elective for class of 2013 & 2014. Does not count as elective for class of 2015+ | | International Business Management | MGMT-UB 4
Only counts as advance elective for class of 2013 & 2014. Does not count as elective for class of 2015+ | |
At least 2 of the 4 courses taken to satisfy the major/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).
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Students choosing the economics theory major should not take ECON-UB 1 or STAT-UB 103. Instead, they should take ECON-UA 5, ECON-UA 6, and ECON-UA 20. If you have already taken ECON-UB 1 and/or STAT-UB 103 and have an interest in the economic theory major, you should consult a Stern academic adviser to map out your major program. Specifically, students who have taken ECON-UB 1 before deciding to pursue the economic theory major are not required to take ECON-UA 5. Economic Theory Program Requirements | | To complete the economic theory program, students must complete the following courses: | | Introduction to Economic Analysis | ECON-UA 5 | | Mathematics for Economists | ECON-UA 6 | | Microeconomic Theory | ECON-UA 11 | | Macroeconomic Theory | ECON-UA 13 | | Analytical Statistics | ECON-UA 20 | | Introduction to Econometrics | ECON-UA 266 | | Calculus I | MATH-UA 121
More information can be found on the Math Department's Website
| | Calculus II | MATH-UA 122 | | Calculus III | MATH-UA 123 | 2 electives from the Stern economics major or the CAS 300-level elective courses.
| ECON-UB or ECON-UA 3XX |
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The required courses in the economic theory concentration are the following: Economic Theory Program Requirements | | complete the following courses in addition to Microeconomics (ECON-UB 1) and Economics of Global Business (ECON-UB 11): | | Mathematics for Economists I | MATH-UA 211
May take MATH-UA 121, 122 & 123 in lieu of these courses, with Academic and Faculty Adviser approval. More course information
| | Mathematics for Economists II | MATH-UA
May take MATH-UA 121, 122 & 123 in lieu of these courses, with Academic and Faculty Adviser approval. | | Microeconomic Theory | ECON-UA 11 | | Macroeconomic Theory | ECON-UA 13 | | Analytical Statistics† | ECON-UA 20
STAT-UB 103 or the combination of STAT-UB 1 and STAT-UB 3 can complete this requirement.
| | Introduction to Econometrics | ECON-UA 266 | | 2 Stern or 300 level-CAS Economic Elective Courses | ECON-UB or ECON-UA 3XX |
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The economic theory program is for students who wish to begin the formal study of economic reasoning with an emphasis on mastering the analytical tools. This program of courses relies on a higher level of abstraction and emphasizes the techniques of economic analysis rather than the study of specific economic problems or institutions. It is well-suited for students who intend to pursue a professional career in economics, are considering graduate study in economics, or those pursuing careers or higher degrees in highly quantitative fields such as finance.
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| Introduction to Economic Analysis (T) | ECON-UA 5
For students in the classes of 2013 & 2014 only
| | Mathematics for Economists (T) | ECON-UA 6
For students in the classes of 2013 & 2014 only | | Mathematics for Economics I (T) | MATH-UA 211
For students in the classes of 2015 & 2016 only
| | Mathematics for Economists II (T) | MATH-UA 212
For students in the classes of 2015 & 2016 only
| | Analytical Statistics (T) | ECON-UA 20 | | Microeconomic Theory (T) | ECON-UA 11 | | Macroeconomics Theory (T) | ECON-UA 13 | | Introduction to Econometrics (T) | ECON-UA 266 |
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| Economies in Transition (B, T) | ECON-UB 31 | | Independent Study in Economics (B) | ECON-UB 94-99 | | Economics of Sex, Drugs, and Rock & Roll (B, T) | ECON-UB 210 | | Sports Economics (B, T) | ECON-UB 211 | | Psychology and Economics (B,T) | ECON-UB 213 | | Topics in Emerging Financial Markets (B) | FINC-UB 23 | | Behavioral Finance (B) | FINC-UB 29 |
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| Intermediate Macroeconomics: Business Cycles and Stabilization Policy (B) | ECON-UA 12 | | Economic History of the United States (B, T) | ECON-UA 205 | | Ethics and Economics (B, T) | ECON-UA 207 | | Urban Economics (B, T) | ECON-UA 227 | | Poverty and Income Distribution (B, T) | ECON-UA 233 | | Gender and Choices (B, T) | ECON-UA 252 | | Strategic Decision Theory (T) | ECON-UA 310
Note: This course should not be taken by students who have already taken MULT-UB 20, Game Theory.
| | Industrial Organization (B) | ECON-UA 316
Note: This course should not be taken by students who have already taken MULT-UB 15, Competitive Analysis.
| | Market Structure and Performance (T) | ECON-UA 317 | | Economic Development (B, T) | ECON-UA 323 | | Topics in the Global Economy (B) | ECON-UA 324 | | Economics of Energy and the Environment (B, T) | ECON-UA 326 | | Ownership and Corporate Control in Advanced and Transition Economies (B, T) | ECON-UA 340 | | Labor Economics (B, T) | ECON-UA 351 | | Public Economics (B, T) | ECON-UA 353 | | Law, Economics and Society (B) | ECON-UA 355 | | Experimental Economics (B, T) | ECON-UA 360 | | Advanced Micro Theory (T) | ECON-UA 365 | | Topics in Econometrics (B) | ECON-UA 380 | | Honors Tutorial (B, T) | ECON-UA 410
This course is open only to honors students.
| | Honors Thesis (B, T) | ECON-UA 450
This course is open only to honors students.
| | Global Perspectives on Enterprise Systems (B, T) | ECON-UB 220 | | Monetary Policy and the Financial System (B, T) | ECON-UB 221 | | Asian Economies (B,T) | ECON-UB 222 | | Business and the Environment (B, T) | ECON-UB 225 | | Time Series Tools for Macroeconomics and Finance (B,T) | ECON-UB 232 | | Macroeconomics Foundations for Asset Prices (B,T) | ECON-UB 233 | | Advanced Topics in Modern Macroeconomics (B,T) | ECON-UB 234 | | Social Enterprise & Economic Development: The Indian Context (B) | MULT-UB 25 | | Global Macro Issues (B, T) | MULT-UB 230 | | Competitive Analysis (B) | MULT-UB 15 | | Game Theory (B) | MULT-UB 20 |
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Students who are unsure about which area is appropriate for their interests should seek advice from both the Academic Advising Office and Economics Faculty Adviser. Transferring between economics areas can be complex, especially when switching from business economics to the economic theory. You are urged to make this decision early on in their Stern careers.
The list of courses below is divided into three sections:(I) economic theory major courses (anchor to area indicated below), and (II) economics elective courses (anchor to area indicated below). Students in either economics area can choose electives from any list.
Courses listed with a (B) designation indicate that they will count only toward the business economics area. Courses listed with a (T) designation indicate that the course will count only toward the economics theory area. Courses with the notation (B, T) count toward either area.
