Labovitz School of Business and Economics
Economics is the study of social, business, and individual decision making and the goals, incentives, institutions, and constraints affecting those decisions. The B.A. Economics curriculum combines the classical liberal arts and modern quantitative approaches and is designed for students pursuing a second major or minor in traditional liberal arts disciplines or in mathematics and statistics. The B.A. prepares students for careers in business and government, the study of law, and graduate work in economics, management, public policy, and related fields. Business careers that require the analytical training of an economist include banking, management, insurance, marketing research, and securities trading. Economists who work for government agencies assess economic conditions in the United States and abroad and predict the economic impact of specific changes in legislation or public policy. Government careers include those in foreign and intelligence service, regulatory agencies, and international trade. Majors are encouraged to select a discipline that complements their chosen career path or builds on their analytical training. Students have considerable flexibility in designing their major to ensure it meets personal and professional interests and needs. Students should consult their department adviser to define the focus and coverage of their program and select courses in other disciplines. Students interested in graduate study should plan on taking both ECON 3030 and ECON 4213. The department faculty welcomes and encourages student interaction with other students and the faculty through activities such as UROP projects, Omicron Delta Epsilon (honorary society for economics), Economics Club, and other activities and events. Honors Requirements: The department honors program recognizes majors who demonstrate outstanding academic performance. Department honors are noted in the commencement bulletin and by the following notation on the student's transcript: Graduated With Distinction in Economics. To be eligible, degree candidates must earn a 3.20 GPA overall. In addition, candidates must earn a 3.20 GPA in economics courses and satisfactorily complete a research project under the guidance of a faculty member or complete an approved internship.
This program is available:
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Introductory Course (1 cr)
Not required for transfer students with 30 or more credits, or for students who change college into LSBE.
UST 1000 - UMD Seminar (1.0-2.0 cr)
The Board of Regents, on recommendation of the faculty, grants degrees from the University of Minnesota. Requirements for an undergraduate degree from University of Minnesota Duluth include the following:
1. A second field of study (either a minor or another major). 2. At least 20 of the last 30 credits immediately before graduation must be taken at UMD. 3. Completion of the upper division economics core and an overall GPA of 2.80 for an internship and/or independent study.
Lower Division (14 cr)
ECON 1022 - Principles of Economics: Macro [LE CAT6, SOC SCI] (3.0 cr)
ECON 1023 - Principles of Economics: Micro [LE CAT6, SOC SCI] (3.0 cr)
MATH 1160 - Finite Mathematics and Introduction to Calculus [LE CAT2, LOGIC & QR] (5.0 cr)
or MATH 1296 - Calculus I [LE CAT2, LOGIC & QR] (5.0 cr)
or MATH 1596 - Honors: Calculus I [LE CAT2, LOGIC & QR] (5.0 cr)
ECON 2030 - Applied Statistics for Business and Economics [LOGIC & QR] (3.0 cr)
or PSY 3020 - Statistical Methods (4.0 cr)
or SOC 3155 - Quantitative Research Methods and Analysis (4.0 cr)
or STAT 1411 - Introduction to Statistics [LE CAT2, LOGIC & QR] (3.0 cr)
or STAT 3611 - Introduction to Probability and Statistics (4.0 cr)
Upper Division (12 cr)
ECON 3022 - Intermediate Macroeconomics (3.0 cr)
ECON 3023 - Intermediate Microeconomics (3.0 cr)
ECON 3031 - History of Economic Thought [LE CAT7] (3.0 cr)
Electives (15 cr)
ECON 3402 or 3512 cannot apply as electives. By approval, one 3xxx or above course outside of ECON may be applied. No more than 6 credits of any combination of internship, independent study, or courses outside ECON can be used for upper division electives. Students who want to focus on international/development should consider the following courses: ECON 3150, 3721, 3777, 4410, 4935. Students who want to focus on health economics should consider the following courses: ECON 3910, 4040, 4512.
Take 5 or more course(s) totaling 15 or more credit(s) from the following:
· ECON 3xxx
· ECON 4xxx
Advanced Writing Requirement (3 cr)
FMIS 3141 - Business Communications (3.0 cr)
or WRIT 31xx