This page includes frequently asked questions regarding the majors and minors in the Economics Department. We have added firstly some FAQs regarding different topics that have come up during this time away from campus. Be sure to refer to the newly posted videos regarding registration and other economics-related questions.
How do I declare Economics or International Economics as my major?
You can consult with an Econ advisor and they will fill out an eForm with you.
If you want to declare International Econ, you will speak to the advisor of the language you would like to study, and they will fill out an eForm with you.
I didn’t take Statistics for Economics because I took a different stats course. Does mine count as a prerequisite for Econometrics/fulfill the Econ stats requirement?
This list of classes counts as a prerequisite for Econometrics:
- (ECON 30330 or BAMG 20150)
- ACMS 10150
- ACMS 20340
- ACMS 30440
- ACMS 30540
- MATH 30540
- BAMG 20100
- ACMS 30600
- BIOS 40411
- ITAO 20200
- PSY 30100
- ACMS 30530
- MATH 30530
- SOC 30903
Does my business stats class count for my econometrics requirement?
Business stats ACMS 10145 and ACMS 10091 do NOT satisfy the Econometrics prerequisite.
If you are a Mendoza student, you can either take the second course in stats at Mendoza BAMG 20150 or the one credit module in order to take Econometrics.
The two courses Econ Statistics and Econometrics satisfy the two Mendoza statistics requirements ACMS 10145 and BAMG 20150. However the reverse is not true (i.e. ACMS 10145 and BAMG 20150 fulfills only the Econ Statistics not Econometrics for the Economics and International Econ majors).
I am a Business Econ minor. What are some things I need to know about the statistics requirement?
AP credit does not count for the statistics requirement for the Business Econ minor. You may waive and replace however and take an Econ elective in lieu of statistics.
Psychology or Sociology majors who have a minor in Business Econ can use their respective departmental Statistics course to fulfill the statistics requirement. However, you will need to take an additional elective course.
Which Economics courses can count for my social science University requirement?
Principles of Microeconomics - not AP, Principles of Macroeconomics - not AP and Intermediate Microeconomics. A course required for a second major, supplementary major, or minor can also count toward a University or college requirement.
How many writing intensive courses do I need to take to be an Economics major?
One writing intensive course.
You can identify writing intensive courses by the fact that the second digit in their Econ number is 3. Example:
ECON 33xxx or 43xxx
I transferred from another university and have statistics credit. Can this count for the Econ Stats requirement?
The statistics credit of many transfer students often transfers under the title ACMS 10145. This course ACMS 10145 does not cover regression analysis, so it does not satisfy the prerequisite for Econometrics.
In order for a statistics course to satisfy the prerequisite for Econometrics, it must have covered regression analysis.
If you are a transfer student and you think that your statistics course covered regression, request the syllabus so we can review it to be sure that it will satisfy the Econ stats requirement/Econometrics prerequisite.
How do I register for classes?
You do not need a pin to register this year.
You register on NOVO just the same you have every year. You will still have a time slot. Refer to videos regarding wait-lists.
How do you add the Business Economics minor?
You can speak with an Economics advisor, and they will start an eForm with you.
Who can add the Business Econ minor?
Anyone whose primary major is in Arts and Letters, and is not already studying Economics or International Economics.
Can my AP Classes in Microeconomics, Macroeconomics, and Statistics count towards the Business Econ minor?
No they cannot count for credit for the minor.
You can still complete the minor by completing upper level courses.
Is this the same as double majoring in Economics and a language?
No, it is not the same thing. International Economics major differs from Economics major in these ways:
International Econ majors take 2 international electives, versus Econ takes 4 (one being writing intensive, and two of the 40000 level)
International Econ majors take the one credit course Exploring Int’l Econ
International Econ majors must complete a Senior Research Project their senior year
Look to each language department to see how the language requirements for the Int’l Econ major differ from completing the entire language major
How many electives do I have to take as an Economics major?
Four total electives
One must be writing intensive
Two must be 40000 level
How can I tell which course requirements for specialized electives in International Economics and the Financial Economics concentration?
International Economics electives are characterized by:
Both your electives must have this IEEL attribute
Financial Economics concentration classes are characterized by:
2 CFEL electives
When can I start taking my Economics/International Economics electives?
It is recommended that you finish your core classes (Principles (Micro and Macro), Stats, Intermediate (Micro and Macro), and Econometrics before starting your electives. That way, you can use your analytical skills to understand your electives better, and you will have more information about choosing which elective most caters to your interests (i.e. international vs. domestic, micro vs. macro).
Depending on your schedule you may take a 30000 level elective at any time as long as you have completed both Principles courses.
Can I take a non-international focused Economics elective as an International Economics major?
Yes, however since it is not international-focused, it cannot count towards the two electives that you have to complete for the major. But feel free to take them if you have room in your schedule, you have completed the two international electives, and your senior research project.
I am an Economics or International Economics Major. Does my AP Statistics course satisfy the statistics requirement?
No. However, you may take a one credit course, ECON 30335 Introduction to Linear Regression to supplement your AP, and the combination will serve as a prerequisite for Econometrics. You will also need to take an additional Econ elective to substitute for the statistics class.
I am a Business Economics Minor. Does my AP Statistics course satisfy the statistics requirement?
You do not need to take another statistics course, however you may substitute an Economics elective.
What programs does the Economics department offer?
The department offers two majors, one concentration and one minor. The two majors offered are Economics and International Economics. Students in both majors are eligible to apply for a concentration in Financial Economics and Econometrics in their sophomore year. The minor in Business Economics is open to all students in the College of Arts and Letters with majors outside of the Economics department.
How many classes do I need to take to become an Economics major?
You will need to complete 6 core courses and 4 electives, and satisfy the math prerequisite of Calculus I and II (or A and B). The 6 core courses include Principles of Microeconomics, Principles of Macroeconomics, Intermediate Microeconomics, Intermediate Macroeconomics, Statistics for Economics and Econometrics. Two of the 4 electives must be 40000 level courses, and one of the electives must be writing intensive.
What is the recommended sequence of courses for the Economics major?
If you start the major late, other paths to completion are possible but this is the recommended sequence. First year: Principles of Microeconomics and Principles of Macroeconomics (Calculus I and II, or A and B, if needed). Second year: Statistics for Economics and Intermediate Microeconomics, followed by Econometrics and Intermediate Macroeconomics. This will complete your core requirements and all prerequisites for upper level electives. You will need to take four electives in your junior and senior year, leaving plenty of room for study abroad.
Which math courses do I need to complete to become an Economics major?
A two semester sequence of Calculus. This can be satisfied by Calculus I and II, or A and B.
What if I took Elements of Calculus?
If you earned a good grade, you may visit the math department and ask for an override to allow you to take Calculus B to complete the sequence required for the major.
Can I count Business statistics toward my Economics major if I declare a double major?
If you know early enough you want to double major in Economics, the preferable way is to take Statistics for Economics, which is a prerequisite for Econometrics. These two courses will satisfy the Mendoza requirement for two statistics courses. Unfortunately, the introductory statistics class in the business school does not meet the prerequisite requirement for Econometrics (you can check the list of courses that do satisfy on class search). If you already took the introductory statistics course at Mendoza, you can either take the second course in the sequence and continue to Econometrics, or you can take Statistics for Economics and then Econometrics.
What if I have a statistics course completed as a requirement for another major?
You don’t need to retake Statistics for Economics. If you plan to major in Economics, as long as your statistics meets the prerequisite criteria for Econometrics, you will be required to complete an extra economics elective instead of retaking the statistics class. If you are completing the Business Economics minor, you will need to complete an extra elective in the major for which you completed the statistics course.
Which classes can I take over the summer or abroad?
No core classes may be transferred in from summer courses and the major only accepts one elective to be transferred in from a summer course or study abroad. (If you are a transfer student, the situation is different, contact the office of admissions/registrar for details).
How can I get an honors designation with my Economics major?
The entry criteria for applying are based on GPA restrictions and faculty recommendation. The honors track also requires students to write a senior honors essay over the course of their senior year. The details can be found here.
Are there research/internship opportunities in the department?
Yes, there are. However, for economics research positions, you generally will be required to have completed Econometrics. The Wilson Sheehan Lab for Economic Opportunities http://leo.nd.edu/ offers internships, and other opportunities are available with individual faculty members as well.
What kind of jobs can I get with an Economics major?
A degree in Economics will provide you with training in analysis, problem solving and critical thinking. This a broad and very attractive skillset. Our graduates go on to careers in consulting, banking, marketing, management, government sector and many others. Employers include Amazon, Citigroup, Ford, Deloitte, Department of Defense, Facebook, Federal Reserve Board, GE, Goldman Sachs, McDonald’s, NBCUniversal, Nike, Target, etc. Please, check out the Career Center’s website for up-to-date statistics on the recent graduates.
If I want to go to graduate school, would a PhD in Economics be my only option?
No, our majors have successfully enrolled in Law schools, MBA programs, Masters in Public Policy programs, PhD programs in Economics, Medical schools, etc.
What is the difference between Economics and International Economics?
The core economics requirements are the same. In addition to the core classes, the Economics major requires 4 electives, while the International Economics major requires 2 electives with international focus, an Exploring International Economics class, and a senior research project. Furthermore, the International Economics major is enhanced by an extensive course work studying a foreign language and culture. The exact number of classes depends on your language placement and is finalized by the language departments.
Can I double major in Economics and International Economics?
No, only one major in the department is allowed.
How many classes do I need to take to become an International Economics major?
For the economics portion of the major, you will need to complete 6 core courses, an Exploring International Economics class (1 credit), 2 electives, a senior research project (3 credits or a full-year thesis) and satisfy the math prerequisite of Calculus I and II (or A and B). The 6 core courses include Principles of Microeconomics, Principles of Macroeconomics, Intermediate Microeconomics, Intermediate Macroeconomics, Statistics for Economics and Econometrics. One of the 2 electives must be 40000 level course.
What languages are offered as part of the International Economics major?
The program includes Arabic, Chinese, French, German, Italian, Japanese, Russian and Spanish.
How many language courses do I need to take for International Economics major?
The number of courses depends on your placement and only the appropriate language department can make the final call. Please, check the website of the department which offers your language of interest and meet with an advisor to determine the course requirements.
Do I have to study abroad if I major in International Economics?
Study abroad is strongly encouraged and contributes to your understanding of the culture. Many students spend a semester abroad, some even a full year. Some students who have a less flexible course load opt for a summer abroad program.
Does the senior research project have to be written in the foreign language?
No, the paper is generally written in English. Your project should, however, include roughly a third of your references in the target language. This requirement is relaxed for Arabic, Chinese and Russian, due to the limited ability to reach proficiency in such a short time. Therefore, the sources may all be in English. If you would like to write the paper in the target language, the option is there with the instructor’s permission.
Can I apply for the Financial Economics and Econometrics concentration if I’m a student at the Mendoza College of Business?
What is the Financial Economics and Econometrics concentration?
It is a concentration to either the Economics or International Economics majors. It is a set of specific electives, which are quantitatively rigorous and focused on the financial system. It is an excellent way to enhance your data analysis skills, especially if interested in a career in investment banking, etc. The electives specific to the concentration include a series of professional enrichment seminars, Financial Economics, Financial Econometrics, and Asset Pricing. Students are also required to complete two finance-related electives.
When do I apply for the Financial Economics and Econometrics concentration and what are the prerequisites?
Applications are submitted in the spring of your sophomore year. You must have completed the Intermediate Microeconomics class, and ideally Econometrics but it may be taken in the fall of your junior year.
Can I still study abroad if I enroll in the Financial Economics and Econometrics concentration, given the fixed curriculum?
Yes, the spring course is offered both junior and senior year. However, the fall semester courses are sequential and therefore fall study abroad is not possible.
Can I declare the Business Economics minor if my primary major is not in Arts and Letters?
No, the Business Economics minor is only available to students whose primary major in the College of Arts and Letters. Even if you have a second major in AL but your primary major is in another college, you are not eligible. Other colleges have similar minors.
Can I apply my Principles of Microeconomics, Macroeconomics or Statistics AP class toward the Business Economics minor?
No, AP credits cannot be applied. However, you do not need to retake the course. The AP credit will qualify you to take an upper level class to substitute for that course and still complete the minor requirement.
Which statistics class counts towards the Business Economics minor?
Any of your statistics courses will count towards the minor, it does not have to be Statistics for Economics.
Can I declare the Business Economics minor if I am majoring in Economics or International Economics?
No, it is only open to non-economics majors.
Georgia Twersky loves diving deep into data when she’s studying economics. But her experiences at Notre Dame have helped her see the value of understanding the people behind the numbers, as well. An international economics major with a Spanish concentration and a minor in peace studies, the senior has found...