# Mathematical Economics, BA

Economics is a social science and, as such, an important component of the liberal arts curriculum. At the core of economics are theories of how individuals, firms, and other organizations make choices and interact, taking into account constraints on their behaviors. Among the topics studied in economics are the following:

- The determination of prices and quantities in various types of markets, from perfectly competitive commodity markets to highly regulated utility markets and internet auctions.
- The effects of taxes, subsidies, and regulations.
- The determination of aggregate economic activity (e.g., GDP, unemployment).
- Inflation, monetary policy, and financial intermediation.
- Economic growth and income distribution.
- International trade and international finance (e.g., exchange rates).

The Mathematical Economics Major is intended for students with a strong intellectual interest in both mathematics and economics and, in particular, for students who may pursue a graduate degree in economics. Advanced economics makes extensive use of formal mathematical models. The major introduces undergraduate students to rigorous theoretical-quantitative and empirical-quantitative approaches to the analysis of economic problems. In comparison to the Economics Major, the Mathematical Economics Major emphasizes a more formal mathematical analysis, preparing students for academic-style research in economics.

The minimum total course units for graduation in this major is 36. Double majors may entail more course units.

**For more information:** https://economics.sas.upenn.edu/undergraduate/majors-and-minors/mathematical-economics-major

For information about the General Education requirements, please visit the College of Arts & Sciences Curriculum page.

Code | Title | Course Units |
---|---|---|

College General Education Requirements and Free Electives | ||

Foundational Approaches + Sectors^{1} + Free Electives | 19 | |

Major Requirements | ||

MATH Core Requirements ^{2} | ||

Select 1 Calculus II course | 1 | |

Select 1 Calculus III course | 1 | |

Select 1 Algebra course | 1 | |

Select one of the following: | 2 | |

Option 1: | ||

Advanced Calculus and Advanced Calculus | ||

Option 2: | ||

Advanced Analysis and Advanced Analysis | ||

STAT Core Requirements | ||

Select 2 course units of the following: ^{3} | 2 | |

Probability and Statistical Inference | ||

Engineering Probability and Statistics for Data Science | ||

Econometric Data Science ^{4} | ||

MATH Electives | ||

Select 2 of the following: | 2 | |

Applied Machine Learning | ||

Applied Machine Learning | ||

Machine Learning | ||

Big Data Analytics | ||

Stochastic Systems Analysis and Simulation | ||

Intro to Linear, Nonlinear and Integer Optimization | ||

Modern Convex Optimization | ||

Calculus, Part IV | ||

Computer Methods in Mathematical Science I | ||

Discrete Mathematics I | ||

Ordinary Differential Equations | ||

Partial Differential Equations | ||

Game Theory. | ||

Topology | ||

Mathematics of Finance | ||

Advanced Applied Probability | ||

Algorithmic Game Theory | ||

Mathematical Statistics | ||

Stochastic Processes | ||

Forecasting Methods for Management | ||

Introduction to Bayesian Data Analysis | ||

Sample Survey Design | ||

Applied Probability Models in Marketing | ||

Mathematical Statistics | ||

Advanced Statistical Inference I | ||

Advanced Statistical Inference II | ||

Applied Econometrics I | ||

ECON Core Requirement ^{5} | ||

Introduction to Micro and Macro Economics: ^{6} | ||

ECON 001 | Introduction to Micro Economics | 1 |

ECON 002 | Introductory Economics: Macro | 1 |

Waiver Conversion Complete | ||

Intro Micro/Macro - For WHARTON Students Only: | ||

Introduction to Economics for Business | ||

Select an additional ECON course ^{7} | ||

Intermediate Level Micro and Macro Economics | ||

ECON 101 | Intermediate Microeconomics | 1 |

ECON 102 | Intermediate Macroeconomics | 1 |

ECON 681 | Microeconomic Theory | 1 |

ECON Electives | ||

Select 3 courses from the following disciplines: | 3 | |

Econometrics | ||

Econometric Methods and Models | ||

Macro-Econometric Techniques and Applications | ||

Micro-econometric Techniques and Applications | ||

Econometric Machine Learning Methods and Models | ||

Empirical Economics of Climate Change | ||

Econometrics I: Fundamentals ^{8} | ||

Macroeconomics | ||

Economic Growth | ||

Topics in Macroeconomics | ||

Monetary and Fiscal Policies | ||

Macro-Modeling | ||

Money and Banking | ||

Microeconomics/Game Theory | ||

Social Choice Theory | ||

Game Theory | ||

Industrial Organization | ||

The Digital Economy | ||

Mathematical Economics | ||

Decision Making Under Uncertainty | ||

Market Design | ||

Game Theory and Applications. ^{8} | ||

Independent Studies | ||

Independent Study | ||

At most one independent study (ECON 199) can substitute for a 200-level course in the major. Students wishing to enroll in an Independent Study must have their outline approved and be enrolled prior to the end of the Add Period. No Independent Studies will be accepted afterwards. | ||

Total Course Units | 36 |

^{1} | You may count no more than one course toward both a Major and a Sector requirement. For Exceptions, check the Policy Statement. |

^{2} | Students intending to major in Mathematical Economics are encouraged to take MATH 116 Honors Calculus and to consider MATH 260 Honors Calculus, Part II. |

^{3} | NOTE: These MATH and ECON courses count toward the MATH and ECON electives. |

^{4} | If ECON 103 Econometric Data Science is taken, one additional ECON or MATH course from the following: MATH 546 Advanced Applied Probability, ECON 104 Econometric Methods and Models, ECON 221 Macro-Econometric Techniques and Applications, or ECON 222 Micro-econometric Techniques and Applications. |

^{5} | LPS academic year courses require approval of Undergraduate Chair EXCEPT for ECON 001 Introduction to Micro Economics & ECON 002 Introductory Economics: Macro. |

^{6} | ECON 001 Introduction to Micro Economics and ECON 002 Introductory Economics: Macro are prerequisites for all economics courses. ECON 001 Introduction to Micro Economics is the prerequisite for ECON 002 Introductory Economics: Macro. |

^{7} | ECON Course Required if ECON 010 Introduction to Economics for Business is taken. |

^{8} | Requires the permission of the instructor. Please contact the instructor and be prepared to share information about the ECON and MATH courses you have taken and the grades that you have obtained in these courses. Based on this information, the instructor will determine whether the course is suitable for you. |

## Honors

Applicants must have a minimum GPA of 3.5 and an A- or better in 3 graduate level courses that count toward the major. Approved courses may be chosen from the list of Mathematical Economics electives:

Code | Title | Course Units |
---|---|---|

Economics courses 600-level and above | ||

Mathematics and Statistics courses 500-level and above | ||

Intro to Linear, Nonlinear and Integer Optimization | ||

Modern Convex Optimization |

The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2021 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.