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 35. 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 + Sectors1 + Free Electives | 19 | |
| Major Requirements | ||
| MATH Core Requirements 2 | ||
| Select 1 Calculus II course | 1 | |
| Mathematics of change, Part II | ||
| Calculus, Part II | ||
| Honors Calculus | ||
| Select 1 Calculus III course | 1 | |
| Calculus, Part III | ||
| Calculus, Part IV | ||
| Honors Calculus, Part II | ||
| Select 1 Algebra course | 1 | |
| Linear Algebra | ||
| Computational Linear Algebra | ||
| Advanced Linear Algebra | ||
| Algebra | ||
| Advanced Linear Algebra | ||
| 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: | 2 | |
| Probability and Statistical Inference | ||
| Engineering Probability and Statistics for Data Science | ||
| Statistics for Economists 3 | ||
| Probability and Econometric Methods and Models | ||
| MATH Electives | ||
| Select 2 of the following: | 2 | |
| Applied Machine Learning | ||
| Applied Machine Learning | ||
| Machine Learning | ||
| Big Data Analytics | ||
| Stochastic Systems Analysis and Simulation | ||
| Introduction to Optimization | ||
| Introduction to Optimization Theory | ||
| 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 4 | ||
| Introduction to Micro and Macro Economics: 5 | ||
| ECON 0100 | Introduction to Micro Economics | 1 |
| ECON 0200 | Introductory Economics: Macro | 1 |
Waiver Conversion Complete | ||
| Intro Micro/Macro - For WHARTON Students Only: | ||
| Introductory Economics for Business Students | ||
Select an additional ECON course 6 | ||
| Intermediate Level Micro and Macro Economics | ||
| ECON 2100 | Intermediate Microeconomics | 1 |
| ECON 2200 | Intermediate Macroeconomics | 1 |
| ECON 6100 | Microeconomic Theory | 1 |
| ECON Electives | ||
| Select 2 courses from the following disciplines: | 2 | |
| Econometrics | ||
| Econometric Methods and Models (ECON 2310 cannot be used as an elective if the ECON 2300/2310 statistics sequence was chosen) | ||
| Macro-Econometric Techniques and Applications | ||
| Micro-econometric Techniques and Applications | ||
| Econometric Machine Learning Methods and Models | ||
| Empirical Economics of Climate Change | ||
| Econometrics I: Fundamentals 7 | ||
| Macroeconomics | ||
| Economic Growth | ||
| Numerical Methods for Macroeconomists | ||
| Monetary and Fiscal Policies | ||
| Macro Perspectives on Challenges for Economic Policy | ||
| Money and Banking | ||
| International Finance | ||
| Topics in Development | ||
| Microeconomics/Game Theory | ||
| Social Choice Theory | ||
| Game Theory | ||
| Economics of Family | ||
| Social Choice Theory | ||
| Market Design | ||
| Decision Making Under Uncertainty | ||
| Mathematical Economics | ||
| Economic Program Evaluation | ||
| Public Finance | ||
| Political Economy | ||
| Labor Economics | ||
| Law and Economics | ||
| Industrial Organization | ||
| Health Economics | ||
| Urban Fiscal Policy | ||
| Economics of Education | ||
| The Digital Economy | ||
| International Trade | ||
| Game Theory and Applications 7 | ||
| Independent Studies | ||
| Independent Study | ||
At most one independent study (ECON 4999) can substitute for a 2000-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 | 35 | |
- 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 1610 Honors Calculus and to consider MATH 2600 Honors Calculus, Part II.
- 3
If ECON 2300 Statistics for Economists is taken, one additional ECON or MATH course from the following: MATH 5460 Advanced Applied Probability, ECON 2310 Econometric Methods and Models, ECON 4310 Macro-Econometric Techniques and Applications, or ECON 4320 Micro-econometric Techniques and Applications.
- 4
LPS academic year courses require approval of Undergraduate Chair EXCEPT for ECON 0100 Introduction to Micro Economics & ECON 0200 Introductory Economics: Macro.
- 5
ECON 0100 Introduction to Micro Economics and ECON 0200 Introductory Economics: Macro are prerequisites for all economics courses. ECON 0100 Introduction to Micro Economics is the prerequisite for ECON 0200 Introductory Economics: Macro.
- 6
ECON Course Required if BEPP 1000 Introductory Economics for Business Students is taken.
- 7
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 6000-level and above | ||
Mathematics and Statistics courses 5000-level and above | ||
| Introduction to Optimization Theory | ||
| Modern Convex Optimization | ||
The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2025 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.