Mathematical Economics (B.A.)
The purpose of the program is to provide rigorous training in mathematics and economics for students whose career goals require a high level of technical proficiency in these subjects. The program will be valuable for students who intend to pursue graduate work in economics, finance or applied mathematics, or pursue a career in economic analysis, finance, underwriting, actuarial sciences, banking, international trade, applied statistics, or operations research.
Admission Requirements
Admission requirements for this program are satisfied by the general requirements for undergraduate admission to the University.
Program Requirements
Candidates must complete 120 credits in course work including satisfaction of the University General Education Requirements and the College of Liberal Arts and Sciences Group Requirements, as well as the departmental major requirements cited below. All course work must be completed in accordance with the regulations of the University and the College governing undergraduate scholarship and degrees.
Major Requirements
Students considering a mathematical economics major should take ECO 2010 and ECO 2020 (Principles of Microeconomics and Macroeconomics) and MAT 2010 (Calculus 1) as soon as possible.
To satisfy the university bachelor's degree requirement, Mathematical Economics majors must have a cumulative grade point average of 2.0 in their major courses. Also, students must receive a grade of ‘C-’ or better in all mathematics, statistics and economics courses.
A major consists of at least forty-six credits total - at least twenty-two credits in mathematics courses and twenty-four credits in economics courses. At least fifteen credits (eight credits of economics and seven credits of math) must be earned at Wayne State University.
| Code | Title | Credits |
|---|---|---|
| Economics Requirements | ||
| ECO 2010 | Principles of Microeconomics | 4 |
| ECO 2020 | Principles of Macroeconomics | 4 |
| ECO 5000 | Intermediate Microeconomics | 4 |
| ECO 5050 | Intermediate Macroeconomics | 4 |
| ECO 6000 | Price and Allocation Theory | 4 |
| Select one of the following: 1 | 4 | |
| Fundamentals of Economic Analysis I | ||
| Microeconomic Theory | ||
| Introductory Statistics and Econometrics | ||
| Environmental Economics | ||
| Economic Analysis of Law | ||
| Economic Analysis of Law II: Applications of Statistics and Econometrics | ||
| Games of Strategy | ||
| International Trade | ||
| Public Finance | ||
| Pharmaceutical Economics | ||
| Money and Banking | ||
| Macroeconomics | ||
| Introduction to Econometrics | ||
| ECO 5993 | Writing Intensive Course in Economics (This course is taken in conjunction with an approved 5000-level economics, mathematics or statistics elective course.) 3 | 0 |
| Mathematics Requirements | ||
| MAT 2010 | Calculus I | 4 |
| MAT 2020 | Calculus II | 4 |
| MAT 2030 | Calculus III | 4 |
| MAT 2250 | Elementary Linear Algebra | 3 |
| MAT 5700 | Introduction to Probability Theory | 4 |
| One MAT or STA course at or above 5030. Recommended courses are: 1, 2 | 3-4 | |
| Statistical Computing and Data Analysis | ||
| Numerical Methods I | ||
| Advanced Calculus | ||
| Partial Differential Equations | ||
| Complex Variables and Applications | ||
| Methods of Differential Equations | ||
| Introduction to Stochastic Processes | ||
| Mathematics of Finance | ||
| Mathematical Models in Operations Research | ||
| Methods of Optimization | ||
| Introduction to Mathematical Statistics | ||
| Total Credits | 46-47 | |
- 1
This course could be done in conjunction with ECO 5993.
- 2
Excluding MAT 5120, MAT 5180, MAT 5190, MAT 5992, MAT 6130, MAT 6150, MAT 6170, MAT 6180, MAT 6200 and MAT 6210.
- 3
This is a paper completed in conjunction with an approved 5000-level economics, mathematics or statistics elective course. You must register for this course during the same semester that the 5000-level elective taken. Permission from the instructor is required.
Minimal Grade Requirements
Students must receive a grade of ‘C- ’ or better in all economics, mathematics and statistics courses. An overall grade point average of 2.0 (‘C’) is required for graduation.
Writing Proficiency/Writing Intensive Requirement
To enable the Department to evaluate their writing proficiency, mathematical economics majors must register for ECO 5993, the zero-credit WI course. This is a paper completed in conjunction with a 5000-level economics, mathematics or statistics elective course. They must register for this during the same semester that the 5000-level elective course is taken. All mathematical economics majors must satisfy this requirement, even if they are not subject to the University General Education Requirements.
Student’s Responsibility
It is each student’s responsibility to learn the requirements, policies, and procedures governing the program they are following and to act accordingly. Students should consult both Mathematical Economics program advisors regularly in order to verify that Mathematical Economics requirements are being met in a timely fashion. Although the advisor will provide assistance, the responsibility for fulfilling degree requirements remains with the student.