Apr 18, 2024  
Undergraduate Record 2007-2008 
    
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Undergraduate Record 2007-2008 [ARCHIVED RECORD]

Economics

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Requirements to Declare the Major

Requirements to declare the major: 

  1. Complete at least two graded economics courses at the University.
  2. Achieve a GPA of at least 2.3 for all economics courses completed at the University (that is, the final grades in these courses averaged together).
  3. Achieve a grade of at least C+ in ECON 201, ECON 301 or ECON 311. Students who have AP or transfer credit for two of the preceding courses at the time that they matriculate at the University are exempted from this requirement.
  4. Receive credit for APMA 111, MATH 122 or MATH 132 with a minimum grade of C. Students who have AP or transfer credit for one of these courses at the time that they matriculate at the University are exempted from this requirement.
  5. Complete a statistics course [ECON 371, 372 or 472; MATH 312; APMA 311 or 312; or STAT 212] with a minimum grade of C. Students who have AP or transfer credit for one of the preceding courses at the time that they matriculate at the University are exempted from this requirement. (With permission from the Director of Undergraduate Studies, SEAS students may declare the economics major, and later complete statistics in the third year, using APMA 312 or MATH 312).

Notes on Requirements to Declare:

  1. No requirement for declaring the major can be satisfied by retaking a course.
  2. Transfer students must meet all prerequisites. They cannot automatically enroll in the major. Third-year transfer students considering the Economics major are strongly advised to see the Director of Undergraduate Programs before selecting fall courses.
  3. If the course used to satisfy the statistics requirement is not an economics course, it does not enter the economics grade point average.

For information about recent rule changes and grandfathering provisions, visit the Economics Department website.

When you are ready to declare the major:

    1. Print out (1)-(5) above. Review the carefuly, Do you qualify?

        Print out and review the Requirements, FAQ and course offering sections.

        Before you come to the Economics Department, complete that form, as follows:
        a) Fill in the personal information.
        b) Fill in the course grid - prefix, number, title, and term - with the eleven courses (completed, in progress, or planned) that will complete
            the requirements for the major. Include calculus and statistcs. Write TR or AP in the “year’ column if you are using transfer or AP credit.
            You will not be required to complete the particular elective courses that you list as planned. This form is just a first draft of your plans for
            the major. As you select electives, consult question 4 of FAQ. Print out your VISTAA form. You must bring this form with you when you declare.

    2. Take the declaration form to your advisor for review and signature. Return it to Room 326, where we will give  you your copy of the document. Your declaration is not complete until we send the form to your school of enrollment.

Departmental Degree Requirements:

  1. Complete four required courses:  ECON 201, ECON 202, ECON 301 (or ECON 311), and ECON 302. The required courses (except ECON 302) must be completed by the end of the 6th semester. Majors who fail to do so will be dropped from the program.
  2. Earn 15 hours of elective economics course credit, at least 12 hours of which must be in courses numbered above 299 and at least 6 hours in courses above 399. (ECON 371 does not satisfy the electives requirement).
  3. Achieve at least a 2.0 economics grade point average (that is, the final grades, averaged together, in the courses used to satisfy requirements [1] and [2]. If you fail and retake the same required course, both grades enter the economics grade point average. When a course is passed and retaken, the second grade does not carry credit or enter the grade point average. If you take more than the minimum 15 hours of electives, the elective courses with the highest grades, excluding transfer credits, will enter the economics grade point average. Students who have questions about their status as an economics major should see the Director of Undergraduate Studies.

Notes on degree requirements:

  1. No courses taken credit/no credit may be used to satisfy degree requirements.
  2. Majors are encouraged to take additional mathematics courses. Students considering the finance concentration or graduate work in economics should take MATH 131 and MATH 132 (or APMA 111/APMA 212) instead of MATH 121 and MATH 122.
  3. Transfer credit for courses taken outside the University: No courses taken outside the University after matriculation may be counted towards the major in place of ECON 301 or 302. At most six hours of the fifteen hours of elective course credits may be in courses taken outside the University. No courses taken outside the University may be counted toward the minor in economics, except ECON 201, ECON 202, statistics and calculus. To be sure that a course will transfer for economics credit, a student must receive approval in advance, from the Director of Undergraduate Studies.

For information about recent rule changes and grandfathering provision, visit the Economics Department website. 

Transfer Credit Toward the Major or Minor

No courses taken away from the University’s campus in Charlottesville after matriculation may be counted towards the major in place of ECON 301, 302, or 371, or STAT 212 (transfer students who took these courses before matriculation should consult with the Director of Undergraduate Studies). In some cases, up to six credits of courses taken away from the Charlottesville campus may be counted among the 15 credits of economics electives toward the major. No courses taken away from Charlottesville may be counted toward the minor in economics, except ECON 201 and 202. To request permission to transfer a course, a student must confer with the Director of Undergraduate Studies in advance. Majors who plan to study abroad also must consult the Director of Undergraduate Studies in advance.

Distinguished Majors Program in Economics

The Department of Economics has a Distinguished Majors Program (DMP) for those who seek to graduate with high or highest distinction in economics. Students in the DMP must take ECON 472 (previously numbered 372) no later than the fall of their fourth year, enroll in ECON 411 in the fall of their fourth year, and write a thesis (ECON 496) under the supervision of a faculty member. Third-year economics majors with a cumulative GPA of 3.600 or better may apply.

Concentration in Financial Economics

Economics majors may declare this concentration when they have completed ECON 472 with a grade of at least B.

To complete the concentration, meet the ordinary requirements for the major. In addition:

  1. Four of the five economics electives are stipulated as follows:
    (i) ECON 303 (Money and Banking); (ii) either ECON 434 (Theory of Financial Markets), ECON 435 (Corporate Finance) or COMM 372 (Corporate Finance-McIntire School of Commerce); (iii) ECON 472 (Introduction to Econometrics; (iv) ECON 436 (Empirical Finance).
  1. Students must complete COMM 201 (Financial Accounting).

Concentration in International Economics

Economics majors may declare a concentration in international economics no later than October 1 of their seventh semester. To declare it, students must have already completed ECON 372 or 472,  or be enrolled in it. In addition to the five required courses for the major (201, 202, 301, 302 and statistics), students must pass ECON 421, ECON 422, and any two of (i) ECON 451, (ii) ECON 423, or (iii) an area studies course within the department (ECON 309, 353, 355, 456, etc).

Concentration in Public Policy

Economics majors may declare a concentration in public policy no later than October 1 of their seventh semester. To declare it, students must have already completed ECON 301 or 311 with a grade of B or better, passed ECON 472 (or 372) or, if declaring in their seventh semester, be enrolled in it, and passed ECON 431 or, if declaring in their seventh semester, be enrolled in it. In addition to the 5 core courses required for the major, students with this concentration must pass ECON 372 and ECON 431 by the end of their seventh semester. In addition, by graduation they must complete ECON 488 and at least two courses from the list below:

ECON 304, ECON 305, ECON 331, ECON 333, ECON 408, ECON 415, ECON 416, ECON 418, ECON 420, ECON 421, ECON 422, ECON 423, ECON 433, ECON 442, ECON 443, ECON 451.

Students who concentrate in public policy are encouraged to take courses in the Department of Politics. Some of these courses deal with important aspects of policy development that are not covered in economics courses. PLAP 266, 338, 424, 471, and 513; PLCP 413 and 525; and PLPT 480 are especially relevant.

Requirements for Minor

Students who wish to minor in economics must complete ECON 201, 202, 301 or 311, an approved statistics course (listed above) and nine credits of ECON electives with a cumulative GPA of 2.000. At least six credits in economics elective courses must be earned in courses numbered 300 or above. None of the nine credits of economics electives offered for the minor may be taken via transfer credit or study abroad. They must also pass at least one semester of calculus (for example, MATH 121, 131, or APMA 109), which may not be taken on a credit/no-credit basis. Students may declare a minor as soon as they pass the four required courses, the calculus course, and attain a grade point average of at least 2.000 in all economics courses (including an approved statistics course) completed at UVa. College rules require that the minor be declared by the end of the add period in the semester before graduation, ordinarily the seventh semester. The procedure for declaring a minor in economics is described on the department’s undergraduate program web page.

Prospective Graduate Students

Any student seriously considering graduate work in economics should take ECON 472 and several mathematics courses. MATH 132 and 231 are essential. Beyond these, the most useful courses for a prospective graduate student of economics are MATH 310, 312, 325, and 331, and 351.

Additional Information

For more information, contact the Director of Undergraduate Studies, Department of Economics, 114 Rouss Hall, P.O. Box 400182, Charlottesville, VA 22904-4182; (434) 924-3177; Fax: (434) 982-2904; www.virginia.edu/economics.

Course Descriptions

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