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A. Admission to the Major
To be admitted to the Economics major, students must have completed
Economics 1 and 2 by the end of their sophomore year, they must
have completed two Economics courses at the University of Pennsylvania
with a minimum combined GPA of 2.0 (or have taken Econ 101, and
be currently enrolled in Econ 102), and they must have at least
completed Math 140, 150, or 104, and be registered for the second
semester of calculus 114 or 115. The calculus prerequisite for the
major and for economics 101, 102, and the upper level courses is
one year of calculus equivalent to Math 104/114 or 104/115. The
department recommends that students take 114 rather than 115. This
is for several reasons: Mathematics 115 includes material on probability
that is already covered by other courses in the major (in particular,
Econ 103), while Mathematics 114 deepens a student's understanding
of calculus. Moreover, Mathematics 114 is the gateway course for
the upper-level mathematics courses, while taking Mathematics 115
complicates further study in mathematics.
The introductory courses (Econ 1 and 2) do not have a calculus
prerequisite, and so can be taken concurrently or before the math
classes are taken.
If a student receives a grade of at least an A- in Economics 10, then Economics 10 can be used to satisfy the prerequisite for the intermediate courses (Economics 101, 102).
Students wishing to declare an Economics major should see Lynn Costello, Undergraduate
Coordinator. Once admitted to the major, an Economics faculty advisor
is assigned to assist in the selection of courses and to advise
on any questions related to the major.
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B. The Major
The Economics Major Program requires 10 courses in Economics and
2 Mathematics courses.
1. Economics 1 and 2. These introductory courses or their
equivalent are prerequisites for all other Economics courses. They
are also required for admission to the major. Economics 1 is a prerequisite
for Economics 2.
Click here for information on waivers and transfer credits. Click here
for information on the Advanced Placement or the International Baccalaureate
exams.
2. Economics 10. This one semester introductory course in micro and macro economics is offered for Wharton students only beginning in the Fall of 2006. If a student receives a grade of A or A- in Economics 10, then Economics 10 can be used to satisfy the prerequisite for taking intermediate (Economics 101 and 102) courses in economics. Students who take Economics 10 instead of Economics 1 and 2 and receive grades lower than A- will not be permitted to enroll in intermediate level courses, which are in turn required for upper level coursework. Because of the grade requirement, there is no guarantee that a student who takes Economics 10 can be admitted to the major or minor. Therefore, a student who is considering a major or minor in economics should take the more in depth Economics 1 and 2 sequence instead of Economics 10. Also, students taking Economics 10 instead of Economics 1 and 2 will have to take an additional 200-level course in economics to complete the major or minor. Click here for information on receiving AP, A-Level or IB for Economics for Economics 10.
3. Mathematics 104/114
or 104/115. All upper level economics courses, including the
intermediate theory courses (Economics 101 and 102) and Economics
103 assume familiarity with topics in multivariate calculus. For
this reason, Math 104 and Math 114 (or 115) are prerequisites for
these courses. Majors and prospective majors need to complete Math
104 prior to enrolling in Economics 101 or 102 AND have completed
or be concurrently enrolled in Math 114 (or 115).
Students who have not satisfied the Math pre/corequisites for the
intermediate and upper level economics courses will be dropped from
registration during the first two weeks of the semester.
4. Economics 101 and 102. These are the intermediate level
micro and macroeconomics courses, and are prerequisites for the
200 level courses. It is strongly recommended that Econ 101 and
102 be taken immediately upon completion of Econ 1 and 2. Econ 101
is a prerequisite for Econ 102.
Beginning with the incoming class of 2006, Finance 101 will not satisfy any of the Economics department requirements. Therefore, students are required to take Econ 102 to fulfill the requirement for the major.
Click here for information on waivers and transfer credits.
5. Economics 103. This is a course in Economic Statistics,
with calculus as a prerequisite. A two-semester sequence of mathematical
statistics (430 and 431) can be taken instead to satisfy the statistics requirement
of the major (see below). Econ 103 must be taken by any student
who has already completed statistics at least at the level of Stat
101 or ESE 301. Students who have one semester of statistics (Stat 430) must
take the second course in statistics or Econ 220 to satisfy the
statistics requirement. Students are strongly advised to take the
second course in statistics, rather than Economics 220. (Students
with a one semester AP Statistics credit for Stat 101,Stat 111 or ESE 301 or
higher can drop the credit in order to take Econ 103 via a release
form available from the department.)
Note: Students who took STAT 111/112 or ESE 301/302 prior to, or in the
Spring 2006 semester, can count that sequence as waiving out of
the ECON 103 requirement. After Spring 2006, however, STAT 111/112 and ESE 301/302
will not be counted to satisfy any of the Economics Department statistics
requirements. As of Spring 2008, STAT 101/102 will no longer satisfy the statistics requirements. Students who completed STAT 101 or STAT 101/102, STAT 111 or the 111/112 or ESE 301/302 sequence
should enroll in ECON 103.
6. 200-level courses. Students who have taken econ 102 and
103 must take five 200-level or higher courses. Students who have
not taken econ 102 or 103 must take an additional 200-level
or higher course for each of the courses not taken. 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 Add Period. No Independent Study will be accepted afterwards.
Note that Economics 297 does NOT count as a 200 level course
for the major.
The CGS evening 200-level courses (with section numbers ending in 601) offered during the academic year do not
count towards the major except for officially registered CGS students.
The 200-level summer courses can be used towards the major.
Students must have a GPA of 2.0 in the Economics Major Program
in order to graduate with a major in Economics.
Students are required to take 6 of the 10 Econ courses at the University
of Pennsylvania (at least 2 of the 6 taken at Penn must be 200-level
courses).
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B.2. Major Advising
For advising regarding economics classes or the economics major
please see the Undergraduate Coordinator, Lynn Costello in the main
office (160 McNeil) or contact the undergraduate major advisor at
econ-undergraduate@econ.upenn.edu. Also see the detailed information
about requirements for the major on the economics department webpage.
When a student declares an Economics major, the major will be automatically
registered on the department major listserve. This listserve will
be used periodically for notices and events from the Department
and the Undergraduate Economics Society.
B.3. E-mail Accounts and Internet Resources
E-mail:
The department maintains a list of email addresses for all of its
majors. If you are a major and have not received e-mail from the
department, please e-mail Lynn Costello at costello@econ.upenn.edu
Electronic Newsgroup:
A moderated newsgroup entitled "upenn.econ.undergrad"
is used throughout the year to post job opportunities, Undergraduate
Economics Society events, and Economics Department announcements.
Economics Department on World Wide Web (http://www.econ.upenn.edu/)
This source contains much of the information of interest to undergraduates
that is distributed in the department including the following: the
Economics Major Description, this Economics Undergraduate Information
sheet, Course Descriptions, Office Hours for Professors, Economics
Tutor List, Transfer Credit Information, Old Exams, Economics Syllabi,
as well as other information.
B.4. College of General Studies (CGS) Courses
CGS academic year courses of Econ 1, 2, 101, 102 and 103 may be
counted toward the Economics major. CGS courses with designations
above Econ 103 that are offered during the academic year will not count toward the Economics Major.
All CGS summer courses count toward the Economics major.
(This rule does not apply to CGS Economics majors.)
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C. The Economics
Honors Program
To earn Honors in Economics, students
must have an Economics GPA of at least 3.5 and satisfactorily pass
(see below) Econ 300. This is a single course that meets
for two-semesters and counts as two course units. Econ 300 counts
as only one course toward the major, and may count toward one of
the five 200-level course requirements. Consequently, honors majors
have eleven economics course units. (The Economics GPA is based
on Economics courses.)
Enrollment in Econ 300 is only
with the instructor's permission. As a guideline for admission,
students should have taken Economics 101, 102, 103, 220 (Econ 220
may be taken concurrently in the Fall), and two 200-level Economics
courses with an Economics GPA of at least 3.5.
Enrollment in the Honors Semninar
is during the Fall semester only. Credit is awarded only upon completion
of both semesters of Econ 300. Students who do not enroll in and
complete the second semester of the Honors Seminar do not receive
credit for the first semester.
Assignments for Econ Honors 300
include the completion of a research paper to be supervised by faculty.
Grades of B- or higher must be earned on the research paper and
inthe Honors Seminar itself for the student to graduate with Honors.
Forms necessary for admission
to Honors 300 are available from the Undergraduate Coordinator in
the Economics Department.
Among research topics pursued recently by undergraduate students
are the following:
- The Political Economy of Public Education: Using State Election
Cycles as a Predictor of Education Funding
- Influence of the Interest Rate Differential over the Mexican Peso/US
dollar Exchange Rate
- The Random Walk Hypothesis: An Analysis of a Two-State Markov
Regime-Switching Model
- Gains to Productivity Per Worker from unemployment Insurance
- Employer Health Benefits: Heterogeneity, Choice, and Costs
- Two Silicon Valleys? A Case Study Comparing High-Tech Agglomerations
in Europe vs. the United States
- Modelling States Decisions to Implement Retail Access Plans for
the Electric Industry
- Pricing a Rarity
- The Impact of Interest Rate Disclosure Policy on Exchange Rates
- Differences in Measuring Economic Growth
- A Society Wages War: America During World War II
- The Non-Governmental Organization-Governmental Organization Relationship:
A Characterization and Exploration of
Opportunities for Partnership
- Social Choice? An Experimental Study of Intransitivity in majority-Rule
Voting
- An Economic Analysis of Solid Waste Disposal in New Jersey: Pre-
and Post-Atlantic Coast
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revised February, 2008
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