Economics Major

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Major Requirements

The major in economics requires ten courses distributed as follows:

Core Requirement: three courses
ECON 125 CM - Econometrics
Electives Requirement: six courses
Elective courses in economics are arranged in two categories according to prerequisites:
- Level I elective courses (up to two courses):
  Level I electives require only ECON 050 CM as a prerequisite; majors may count up to two level I electives towards the major.
- Level II elective courses (at least four courses):
  Level II electives require ECON 101 CM and/or ECON 102 CM as a prerequisite; majors must take at least four level II electives for the major.

Notes:

ECON 101 CM and ECON 102 CM require completion of basic calculus at the level of MATH 030 CM - Calculus I , or higher.
ECON 125 CM requires completion of a college-level statistics course or the equivalent; students with a score of 4 or 5 on AP Statistics will have met this requirement. Students without a prior college-level statistics course usually take ECON 120 CM - Statistics as a prerequisite for ECON 125 CM . Students may count ECON 120 CM as a level I elective course toward the major.
Students must complete ECON 101 CM and/or ECON 102 CM prior to taking level II elective courses in the major.
Economics-Accounting courses (ECON 086 CM through ECON 160, with the exception of ECON 151 CM and ECON 157 CM ) are level I elective courses for economics majors.
ECON 126 CM - Microeconometrics is highly recommended for all students majoring in economics.

Senior Thesis in Economics

The senior thesis is a general education requirement and the capstone experience of a student’s undergraduate education. Students must complete a senior thesis in at least one of their majors under supervision of a faculty reader who teaches within that major, unless granted a special exception.

All students majoring in economics are encouraged to take ECON 180 CM - Seminar in Research Methods , a one-half credit course preparing students for a senior thesis in economics, either in the semester before they register for senior thesis or concurrently with the senior thesis. Students pursuing honors in economics are required to take ECON 180 CM , but need only register for a one-semester thesis. For a two-semester project, students register for a thesis research course in economics in the first semester and for the senior thesis in the second semester. The senior thesis and the research course may not be counted as courses in the major. For further information on honors, see Honors in Economics below.

Special Options for Majors

A number of special program options are available within the framework of the major requirements listed above. These special program options and requirements include:

Dual Majors

Students with a dual major including economics must complete at least eight economics courses, distributed as follows:

Core Requirement (three courses) (see above)
ECON 125 CM - Econometrics
Electives Requirement: four courses
At least three of these must be level II electives (see above)

Students with a dual major including economics are encouraged to write their senior thesis on a topic in economics. For further information, see Senior Thesis in Economics above.

Please note the restrictions on honors in the major for students with a dual major in Honors in Economics below. For further information on dual majors and the requirements for the other discipline of the dual major, please check the appropriate sections of this catalog.

Honors in Economics

Requirements for honors in economics are:

Completion of a major in economics
A grade point average of 10.50 or better in the major at the time of graduation
Completion of ECON 180 CM - Seminar in Research Methods
Completion of a senior thesis on a subject in economics under the direction of a member of the CMC Robert Day School. The thesis must reflect a superior understanding of economic analysis as determined by the student’s reader and ECON 180 CM instructor.

For further information, contact your economics advisor or the faculty chair.

Students with a dual major including economics who wish to be considered for honors in economics are eligible if they:

Have completed all requirements for a full major in economics and are granted honors, or
Qualify and receive honors in both disciplines of their dual major. See Academic Honors at Graduation for details.

Omicron Delta Epsilon

CMC has a chapter of Omicron Delta Epsilon, a national honorary society for economics majors. The objectives of Omicron Delta Epsilon are recognition of scholastic attainment and the honoring of outstanding achievements in economics, and the establishment of closer ties between students and faculty in economics within colleges and universities, and among colleges and universities. Economics majors with excellent academic standing are eligible for election. For further information, contact Professor Keil.

Internship Programs in Economics

For information on summer internships in economics, see Summer Internship Program in Economics in Special Programs.

The Undergraduate Robert Day Scholars Program

The undergraduate Robert Day Scholars Program is designed for a select group of highly motivated seniors with excellent academic records, significant leadership aptitude, and a clear interest in leadership roles in business, finance, government, and not-for-profit organizations. Robert Day Scholars complete a required set of coursework and receive a generous fellowship toward tuition, access to networking opportunities together with and customized support from a career services specialist.

The curricular focus of the program is on finance, along with complementary coursework in economics, accounting, and organizational psychology. Scholars also participate in a set of specially designed extra-curricular activities.

Students apply as juniors to become Robert Day Scholars in their senior year. Economics majors are well prepared to apply for the program and interested students should enroll in the prerequisite courses for the program during the sophomore and junior year. For further information, see The Robert Day Scholars Program in Special Academic Programs and the website: www.cmc.edu/rdschool/academic/scholars/.

Accelerated Degree Programs

For information on accelerated master’s and MBA programs at Claremont Graduate University, see MA Program in Economics , and MBA – Robert A. Day 4+1 BA/MBA Program in Accelerated Degree Programs in Special Academic Programs.

Master of Arts in Finance

For information on the Master’s Program in Finance of the Robert Day School, see the website: www.cmc.edu/rdschool/academic/masters/.

Learning Goals and Student Learning Outcomes of the Program in Economics and Economics-Accounting

Learning Goals

The economics curriculum is designed to serve a variety of educational objectives. The basic goals of the undergraduate economics major, economics-accounting major, and the financial economics sequence are to:

Develop an understanding of economic behavior and economic/financial institutions;
Develop specific analytical, quantitative and research skills; and
Develop effective communication skills.

Student Learning Outcomes

The Robert Day School has established the following learning outcomes for the educational objectives.

Students will demonstrate a comprehensive knowledge and understanding of economic theory
Students will demonstrate comprehensive knowledge and understanding of issues related to quantitative analysis.
Students will demonstrate skillful analytical and communication skills.

Advanced Placement (AP), Credit, and Placement

Students who have earned a combined score of 9 on the AP examinations in microeconomics and macroeconomics receive a waiver of ECON 050 CM - Principles of Economic Analysis , and are placed directly into ECON 101 CM - Intermediate Microeconomics , or ECON 102 CM - Intermediate Macroeconomics . Students may then use either of these courses for the general education requirement in economics. The Robert Day School does not grant credit for AP courses and majors will be required to take an extra elective course.

General Education Requirement Information

Economics requirement: The general education requirement in economics is met by ECON 050 CM - Principles of Economic Analysis .

Economics majors: For the general education requirement in the social sciences and the humanities, CMC students majoring in economics (or economics-accounting) are required to take designated courses in all four fields of the social sciences (economics, government, history, and psychology), and in two of the four fields of the humanities (literature, philosophy, religious studies, and literature in a foreign language). Economics majors with a dual or double major in the humanities must take courses in three humanities fields. For further information, see Academic Policies & Procedures .

Study Abroad

All CMC students are encouraged to apply for study abroad during the junior year. Students planning to study economics abroad should consult with the faculty chair to determine which off-campus courses will be accepted for the major. The chair of the faculty will not accept study abroad courses for any of the Core Requirement courses. Study abroad courses normally count as level I elective courses; full majors may count up to two level I elective courses for the major; dual majors may count one level I elective.