Minor in Quantitative Economics (MQE)
The Minor in Quantitative Economics offers a course of study for undergraduates whose home department is in the natural sciences, mathematics, or engineering and who are interested in economics. The minor provides students with a plan of study and a selection of courses to apply their mathematical training to economic analysis. The minor also provides a path to graduate school for students who do not major in economics.
Students will develop a good understanding of key economic concepts and will be able to apply these concepts to new problems. The prerequisites and the two required courses provide a methodological foundation, while the elective courses apply those methods in applications.
Open for the Class of 2025 and later, this new minor begins students with the mathematical versions of intermediate courses and then steers them to the more mathematical upper-level core Economics courses.
The deadline for the Class of 2025 to apply to the Minor in Quantitative Economics is September 30, 2023.
Joining the Minor in Quantitative Economics
Admission to the program takes place at the beginning of the fall semester of junior year. This Minor in Quantitative Economics is for students who are interested in economics, but whose main interest lies elsewhere. By taking advantage of the mathematical foundation provided by their home major, the minor creates an efficient path for these students to learn and apply economic concepts and methods. Unlike economics majors, MQE students are permitted to specialize in 2 of the 3 core economics concepts offered. For example, a student may take microeconomics and econometrics but omit macroeconomics altogether. In addition, students are not required to take introductory economics courses (i.e. ECO 100, ECO 101).
- Prerequisites: The following courses must be completed before the start of Junior year, with a minimum grade of “C” in each.
- MAT 201 or ECO 201 (Multivariable Calculus) – equivalent courses also accepted are: EGR 156, MAT 203
- MAT 202 (Linear Algebra) – equivalent courses also accepted are: EGR 154, MAT 204
- ECO 202 or ORF 245 (Statistics) – no course equivalents accepted
Please note that for the Class of 2025, we will accept MAT 175 as a course equivalent to MAT 201, as long as the student achieved a grade of A- or better.
Students in the MQE must maintain a minimum of a C average across all required and elective courses in order to successfully complete the minor.
- Required courses: Two of the three math-track intermediate courses.
- ECO 310* (Microeconomic Theory: A Mathematical Approach)
- ECO 311* (Macroeconomics: A Mathematical Approach)
- ECO 312* (Econometrics: A Mathematical Approach)
*Please note that students pursuing the MQE do not have to take introductory economics courses. Instead, the pre-requirement for ECO 310 and ECO 311 are MAT 201 or ECO 201, or instructor permission. For ECO 312, the pre-requirements are ECO 201 or MAT 201 and ECO 202 or ORF 245, or by instructor permission.
**Please also note that for the Class of 2025, we will consider MAT 175 as a math prerequisite for required courses, but only with the instructor’s permission.
- Elective Courses: Three elective courses from the following group
- ECO 313 (Econometric Applications)
- ECO 315 (Topics in Macroeconomics)
- ECO 317 (The Economics of Uncertainty)
- ECO 323 (Market Failures and Policy Responses)
- ECO 327 (Firm Competition and Strategy: A Mathematical Approach)
- ECO 416 (Fintech)
- ECO 418 (Strategy and Information)
- COS 445 (Economics and Computing)
- ORF 405 (Regression and Applied Time Series)
- In addition, students may substitute more advanced courses (graduate courses) for any of the above.
IMPORTANT: Students may count a maximum of two courses towards the Minor in Quantitative Economics and their major, or another minor.
Students should complete at least one of the required courses by the end of their junior year. Ideally, both required courses by the end of their junior year, although it is possible to complete the minor with just one of the required courses completed in the junior year and the other in the senior year. Because the minor offers a large number of elective courses there is considerable flexibility in how the students can structure the course sequence.
- Students who major in Economics are not eligible for the Minor in Quantitative Economics.
- Students who do not major in Economics can obtain either the Finance Minor or the Minor in Quantitative Economics, but not both.
- Students may only count a maximum of two courses towards the Minor in Quantitative Economics and their major, or another minor.
Should you have any questions regarding program requirements or the application process, please contact firstname.lastname@example.org.