Course Planning

Planning Your Economics Schedule

Calculus (MAT 111 or 112) should be taken early in the major as it is a prerequisite for Economics 202, 203, and other Economics courses.

Economics 105 (Statistics & Basic Econometrics) should be taken early in the major as it is a preferred prerequisite for Economics 205 (Econometrics) and a prerequisite for some electives.

Consider taking 200-level electives during your first and second years in order to learn how economics is applied in particular fields, and discuss your specific situation with your academic advisor.

The department strongly recommends that you fulfill the core requirements of Economics 202, 203, and 205 early in the major, as the material covered in these courses is the backbone of economic analysis used in many of the elective courses.

Four Paths to a Major

Below are four examples of typical paths to an economics major, but you will also want to speak with your academic advisor about your specific situation.

1. Are you interested in either graduate school in economics, completing an honors thesis, or conducting summer research?

If you intend to study economics in graduate school you should:

• Take at least mathematics 150, 160, 230, 235, 330, and 340 (which is one version of a minor in mathematics)

• Plan to take the Graduate Record Examination (GRE)
• Conduct independent economic research through a summer research grant, independent study, or the economics department honors program. Discuss these options with your major adviser by January of your junior year to be eligible for some summer research grants.

We recommend that you begin taking the core economics courses (202, 203, and 205) as early as possible. This will prepare you for possible summer research opportunities and for advanced electives that may include Advanced Microeconomics or Advanced Macroeconomics.

If you are interested in pursuing research opportunities at Davidson, then you do not require additional math electives but we do recommend that you complete ECO 202, 203, 105, and 205 before conducting your research. We also recommend taking ECO electives in the field in which you are interested in conducting research.

Example Schedule: Davidson Research and Graduate School

2. Late to the Game? Are you considering majoring in economics but have taken only a few ECO courses?

To explore your interest in economics, you should first take ECO 101. If ECO 101 interests you, then you can consider taking a 200-level elective or a core theory course (ECO 202 or 203). This will provide you with better information about core economic theories as well as the ways in which economic ideas are used to analyze real work questions in more depth.

While we encourage students to take economics classes early in their Davidson careers, the economics major can successfully be completed in five on-campus semesters if needed.

The example below assumes the student opts for study abroad in fall of the junior year. However, be aware that study abroad can occur for the full year, or in either the fall or the spring semester. You should consult with your academic advisor about your specific situation.

Example Schedule: The ECO Major in Five On-Campus Semesters

3. Trying to finish the major in 7 semesters?

In this case, you simply need to think about your last semester (Fall semester of the Senior year) and work backwards.  You will take ECO 495 in that semester, so you must have completed Eco 202, 203, and 205 by the end of the junior year.  You have lots of flexibility in this case, too, so discuss your situation with your advisor.

Example Schedule: Trying to finish the major in 7 semesters?

4. Need Flexibility? Many students fall somewhere between the above categories.

The economics major is very flexible and can accommodate a variety of schedules and goals.  Given below is one possible example of such a schedule that would lead to an economic major. It assumes the student ops for study abroad in fall of the junior year. However, be aware that study abroad can occur for the full year, or in either the fall or the spring semester. Discuss your specific situation with your academic advisor, since your course planning will likely involve a schedule lying somewhere between the above two examples.

Other Considerations

In the spirit of our discipline, which emphasizes that all choices involve trade-offs, we offer some additional issues to consider about specific major courses.

ECO 202 and ECO 203:

• Taking these courses early will allow you to get more out of your electives and it will provide you with more opportunities to take 300-level electives.
• Taking these courses together provides some benefits, since certain 203 concepts build upon 202 concepts. However, it can also be beneficial to take these courses in different semesters since they are demanding and theory-intensive courses.

ECO 105 and ECO 205:

• Since ECO 205 builds directly upon ECO 105, many students find it beneficial to take the courses in sequential semesters.
• An advantage of taking these courses early is that you will get more out of electives, since you will better understand the econometric methods employed in various papers. Completing ECO 205 before the end of your junior year allows you to either conduct summer research or to complete an Honor’s Thesis during your senior year.

200-level Electives:

• The 200-level electives provide an excellent opportunity to see how economics is utilized to analyze a variety of questions and fields. Since most 200-level electives only require ECO 101, these courses provide an excellent opportunity to explore the major and to see if it is the right field for you.

300-level Electives:

• The 300-level electives utilize more advanced theories and tools that build upon ECO 202, 203, 105, and 205.