Economics

Prerequisites for Declaring the Major (B.A.)

1. Complete at least two graded economics courses at the University of Virginia.

2. Economics GPA

Achieve an economics grade point average (GPA) of at least 2.3; the economics GPA is a weighted measure of all 2000 level or higher economics (ECON) courses taken at the University with the following exceptions:

1. Grades received in courses taken outside the University’s Economics Department, such as transfer courses or direct credit courses offered through study abroad programs, are not included in the economics GPA.
2. If a student is granted economics elective credit for a course taken in another school or department at the University of Virginia, the grade received in that course is not included in the student’s economics GPA.
3. HIUS 2061 is cross-listed as ECON 2060, and HIEU 2051 was cross-listed as ECON 2050 until Spring 2015. ECON 2060 is (and ECON 2050 was) the same whether taught under the history or economics numbers. A grade in HIUS 2061 (or HIEU 2051 taken before Spring 2015), therefore, would be included in the economics GPA.
4. If a student fails a course and then retakes it, both grades – the failing grade and the grade received on the retake – enter into the computation of the economics GPA. If a student has taken and passed a course, grades received on any subsequent retake(s) are not included in the student’s economics GPA.

3. Calculus

Complete calculus through calculus II (MATH 1220 or MATH 1320 or APMA 1110) with a minimum grade of C+ in the calculus II course.

1. Students who fail to obtain a C+ on their first attempt are permitted to try to meet the prerequisite a second time. Students who twice fail to obtain a grade of at least C+ in these courses, whether in the same or different courses, are ineligible to declare the economics major.  Students considering the concentration in financial economics or graduate work in economics are encouraged to take MATH 1310 and MATH 1320 (or APMA 1110 and APMA 2120) instead of MATH 1210 and MATH 1220.
2. Pre-matriculation transfer credit or a grade of C+ or above in MATH 2310 or MATH 2315 or APMA 2120 will be accepted in lieu of calculus II to fulfill the prerequisite.  However, rule 3a still applies. Students who receive a grade below C+ in Calc II and choose to take Calc III instead of repeating Calc II are using up their second chance under rule 3a above. If they receive a grade below C+ in Calc III, they are ineligible for the major.
3. Students who matriculate at the University with AP or transfer credit for one of the aforementioned calculus II or III courses are exempt from this prerequisite. Transfer credit cannot be used to satisfy this requirement after one has begun taking classes at the University.

4. Intermediate Microeconomics

Complete ECON 3010 (or ECON 3110) with a minimum grade of C+.

1. Students who fail to obtain a C+ on their first attempt at completing ECON 3010 (or ECON 3110) are permitted to retake ECON 3010 (or ECON 3110) once. Those who fail to get a grade of at least C+ in two attempts are not eligible to declare an economics major.
2. Credit is not given for both ECON 3010 and ECON 3110, and these courses are considered the same course for the purposes of this requirement.
3. Students who have transfer credit for ECON 3010 at the time they matriculate at the University are exempt from this prerequisite. Transfer credit cannot be used to satisfy this requirement after one has begun taking classes at the University.

5. Statistics

Complete one of the following courses - STAT 2120, STAT 3120, APMA 3110, APMA 3120 - with a minimum grade of C+.

1. Students who fail to obtain a C+ on their first attempt are permitted to try to meet the prerequisite a second time. Students who twice fail to obtain a grade of at least C+ in the statistics courses listed above, whether in the same or different courses, are ineligible to declare the economics major.
2. Students who matriculate at the University with AP or transfer credit for one of the aforementioned statistics courses are exempt from this prerequisite. Transfer credit cannot be used to satisfy this requirement after one has begun taking classes at the University.

NOTE: Students declaring in their 6th semester must have either completed or already be registered for ECON 3720 or ECON 4720 (STAT 3220, if completed before Fall 2013, is also acceptable). Students declaring after their 6th semester must have already completed ECON 3720 or ECON 4720 (STAT 3220, if completed before Fall 2013, is also acceptable).

Major Requirements

Required Courses
Complete five required courses -ECON 2010, ECON 2020, ECON 3010 (or ECON 3110), ECON 3720 (or ECON 4720), and ECON 3020.

1. Students entering the University with transfer credit for ECON 3010 (or 3020) on their transcript, but do not have credit for ECON 2010 (or 2020), are exempt from ECON 2010 or 2020, respectively. However, they will be required to complete one additional ECON elective: in other words, a total of 5 ECON electives must be completed for the major.
2. Students who completed STAT 3220 before Fall 2013 may use it to meet the ECON 3720 (or ECON 4720) requirement.
3. Declared majors must complete ECON 2010, ECON 2020, ECON 3010 (or 3110), and ECON 3720 (or 4720) by the end of the sixth semester or they will be dropped from the major. Students wishing to declare an economics major later than the end of their sixth semester must have already completed all these courses.

Elective Courses

• Students must complete 4 elective economics courses, each of which must be at least 3 credit hours.  At least 2 courses must be numbered 4000 or above and no more than one 2000 level elective.  No economics courses numbered 1000-1999 may be used towards the economics major.

GPA

• Students must achieve at least a 2.0 economics GPA in order to graduate.
• Students who finish their sixth semester with an economics GPA below 2.0 will be dropped from the major. 

Declaring the Major

1. Review your student record to make sure you have completed all the prerequisites- the grades must be posted on SIS. If any prerequisites are in progress, you are not yet eligible to declare.
2. Request a guide from the Undergraduate Program Coordinator in the Economics Department on how to complete the online declaration form. The coordinator is also available by email and appointment to answer questions.
3. Complete and submit the DocuSign major declaration form (available on the Forms Directory of the College of Arts & Sciences website) per the instructions in the guide.
4. Check your Student Information System (SIS) account 5 days after submitting the form to confirm the major has been entered and that a major advisor has been assigned. If the major has not been entered, contact the Undergraduate Program Coordinator in the Economics Department.

Important: You are not declared until you have completed all four steps. Students are responsible for confirming the major has been entered into SIS. 

Important Policies

• Certain courses can be transferred towards the major after a student starts at UVA (post-matriculation), however, certain restrictions apply. For more details, please see the Transfer Credit section on the department’s website.
• Transfer students must meet all prerequisites. They cannot automatically declare the major. Third-year transfer students considering the economics major are strongly advised to contact the Undergraduate Program Coordinator before selecting courses.
• No course taken credit/no credit may be used to satisfy major and concentration requirements.
• Students who declare their economics major after Fall 2011 must complete at least four courses in economics at the University of Virginia to graduate as economics majors, whatever transfer credit they may have received for work done elsewhere. For purposes of this rule, any class taught at the University of Virginia in another school or department of the University that is routinely accepted for major credit can be counted towards the total of four courses.

Concentrations in Economics

• Financial Economics
• Industrial Organization
• International Economics
• Public Policy

The Economics Department offers concentrations in Financial Economics, Industrial Organization, International Economics, and Public Policy.

• Concentrations are optional, but economics majors whose interests are heavily focused on one of the following areas may want to declare a concentration.
• Courses taken for a concentration are also considered major electives, unless the course is already specifically required for the major (i.e. Intermediate Microeconomics, Econometrics).
• Students should keep in mind that elective courses applicable to a concentration are not guaranteed to be offered on a consistent basis.
• Elective courses taken for a concentration may not be shared with another concentration.  In other words, the concentration must stand alone with its own set of elective courses.
• Concentrations must be declared in the student’s 7th term at latest.

Students with questions about a concentration should contact the Undergraduate Program Coordinator.

How to Declare a Concentration:

1. Review your transcript to make sure you have completed all the prerequisites (if any).
2. Contact the Undergraduate Program Coordinator.
3. The Undergraduate Program Coordinator will provide the required declaration form by email.  When the form has been filled out and approved via email, the Undergraduate Program Coordinator will send the completed form to your school’s registrar where it will be entered into your student record.
4. Check your Student Information System (SIS) account 5 days after completing the form to confirm the concentration has been entered.  If the concentration has not been entered, contact the Undergraduate Program Coordinator  in the Economics Department.
   
   Important: You are not declared until you have completed all four steps.  Students are responsible for confirming the concentration has been entered into SIS.
   

Prerequisites for Declaring the Minor

1. Complete at least two graded economics courses at the University of Virginia.

2. Economics GPA

Achieve an economics grade point average (GPA) of at least 2.3; the economics GPA is a weighted measure of all 2000 level or higher economics (ECON) courses taken at the University with the following exceptions:

The economics GPA is a weighted measure of all Economics courses taken at the University with the following exceptions:

1. Grades received in courses taken outside the University’s Economics Department, such as transfer courses or direct credit courses offered through study abroad programs, are not included in the economics GPA.
2. If a student is granted economics elective credit for a course taken in another school or department at the University of Virginia, the grade received in that course is not included in the student’s economics GPA.
3. HIUS 2061 is cross-listed as ECON 2060, and HIEU 2051 is cross-listed as ECON 2050 until Spring 2015. ECON 2060 is (and ECON 2050 was) the same whether taught under the History or Economics numbers. A grade in HIUS 2061 (or HIEU 2051 taken before Spring 2015), therefore, would be included in the economics GPA.
4. If a student fails a course and then retakes it, both grades – the failing grade and the grade received on the retake – enter into the computation of the economics GPA.  If a student has taken and passed a course, grades received on any subsequent retake(s) are not included in the student’s economics GPA.

3. Microeconomics

Complete ECON 2010 with a passing grade and ECON 3010 (or ECON 3110) with a minimum grade of C+.

Students who fail to obtain a C+ on their first attempt at completing ECON 3010 (or ECON 3110) are permitted to retake ECON 3010 (or ECON 3110) once. Those who fail to get a grade of at least C+ in two attempts are not eligible to declare an economics minor.

1. Students who have transfer credit for ECON 3010 at the time that they matriculate at the University are exempt from this prerequisite.
2. ECON 2010 and ECON 2020 are the only courses for the minor that may be taken outside the University after matriculation.

4. Macroeconomics

Complete ECON 2020 with a passing grade.

5. Calculus

Complete Calculus I & II and obtain a minimum grade of C+ in at least one of the calculus courses.

Accepted Calculus I courses: APMA 1090, MATH 1210, MATH 1190, or MATH 1310
Accepted Calculus II courses: MATH 1220, MATH 1320, APMA 1110

• Students who matriculate at the University with AP or transfer credit for Calculus II are exempt from both parts of this prerequisite.
• Students who matriculate at the University with AP or transfer credit for Calculus I are considered to have met the minimum grade requirement.
• Students who fail to obtain a C+ in Calc I are permitted one retake of Calc I, provided they do so before they take Calc II. No additional Calc I or Calc II retakes are permitted to meet the minimum grade requirement.  
• Transfer credit cannot be used to satisfy the grade requirement after one has begun taking classes at the University.
• Students who complete Intermediate Microeconomics before Spring 2016 are not required to complete Calculus II but must still meet the minimum grade requirement.

6. Statistics

Complete one of the following courses: STAT 2120, STAT 3120, APMA 3110, or APMA 3120 with a minimum grade of C+.

• Students who fail to obtain a C+ on their first attempt are permitted to try to meet the prerequisite a second time. Students who twice fail to obtain a grade of at least C+ in the statistics courses listed above, whether in the same or different courses, are ineligible to declare the economics minor.
• Students who matriculate at the University with AP or transfer credit for one of these courses are exempt from this prerequisite. Transfer credit cannot be used to satisfy this requirement after one has begun taking classes at the University.

Minor Requirements

No course taken credit/no credit may be used to satisfy minor requirements.

Required Courses

Complete all the prerequisite courses for declaring a minor; ECON 2010, 2020, 3010 (or 3110), Calculus, and Statistics.
 
Elective Courses

The student must complete 3 additional economics elective courses at the 2000 level or above, each of which must be at least a 3-hour course.

• Of the economics elective courses used to satisfy this requirement, no more than one can be numbered below 2999.
• At least two of the three Economics elective courses must be completed at the University.
• ECON 3720, ECON 4720, and ECON 3020 can count as electives in the minor.
• Students entering the University with transfer credit for ECON 3010 (or 3020) on their transcript, but who do not have credit for ECON 2010 (or 2020), are exempt from ECON 2010 or 2020, respectively. However, they will be required to complete one additional economics elective; in other words, a total of 4 ECON electives must be completed for the minor.

GPA

Students must have a cumulative economics GPA of at least 2.0 to graduate with the minor. See the prerequisites for details on computing the economics GPA.

Declaring the Minor

College rules require that the minor be declared by the end of the add period in the semester before graduation, ordinarily the seventh semester. Under some circumstances this deadline may be extended until early in the semester in which you intend to graduate. 

1. Review your transcript to make sure you have completed all the prerequisites.
2. Request a guide from the Undergraduate Program Coordinator in the Economics Department on how to complete the online declaration form. The coordinator is also available by email and appointment to answer questions.
3. Complete and submit the DocuSign major/minor declaration form (available on the Forms Directory of the College of Arts & Sciences website) per the instructions in the guide.
4. Check your Student Information System (SIS) account 5 days after submitting the form to confirm the minor has been entered. If the minor has not been entered, contact the Undergraduate Program Coordinator in the Economics Department.

Important: You are not declared until you have completed all four steps.  Students are responsible for confirming the minor has been entered into SIS.