Economics
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Economics is the study of how best to satisfy the wants and desires of all people given the limited resources available to us on this Earth. It concerns the wealth of nations, its origins in production and exchange, its allocation among competing uses, its distribution among individuals, its accumulation or decline. The approach is descriptive and analytical; many issues of national and international policy are considered; the focus is on social institutions and social outcomes rather than on personal financial success per se.
Economics majors, and all students, should feel free to visit any of our faculty during their office hours and by appointment to discuss particular courses, programs of study and economics in general.
Requirements for the Major in Economics
A major in economics requires the successful completion of:
1. One year of Principles of Economics (Econ 51 & 52)
2. One year of Economic Theory (Econ 104 & 105)
3. One semester of Economic Statistics (Econ 91)
4. One semester of Econometrics (Econ 125)
5. Four additional upper-level courses in economics (i.e., courses having principles of economics as a prerequisite).
6. Senior seminar in economics in the student’s final year (Econ 198)
7. Senior thesis for honors candidates.
Completion of Math 30 or equivalent is required before taking Macroeconomic Theory and recommended before taking Microeconomic Theory. Students intending to pursue an MA or a PhD in economics are strongly urged to:
• Complete Math 31 and Math 32;
• Complete one semester of linear algebra and differential equations; and
• Select upper-level courses that are strongest in their theoretical orientation.
Accelerated Program
Pitzer College and Claremont Graduate University offer a selective accelerated program for completion of the BA and MA in Economics in five years. Interested students apply in the fall of their junior year and must have completed Calculus II,
Microeconomic Theory, Macroeconomic Theory and Economic Statistics before beginning the fifth year of study. Interested students should contact the Pitzer Economics faculty.
Requirements for the Major in Mathematical Economics
A major in Mathematical Economics requires the successful completion of:
1. One year of Principles of Economics (Econ 51 & 52)
2. One year of Economic Theory (Econ 104 & 105)
3. One semester of Economic Statistics (Econ 91)
4. One semester of Econometrics (Econ 125)
5. Two upper level courses in Economics
6. Three semesters of Calculus: Math 30 (or 30c), 31 (or 31a or 31c) and 32.
7. One semester of Linear Algebra followed by one semester of either differential equations or probability. This can be satisfied by taking different sequences of courses from different Claremont Colleges. (see catalogue)
8. Senior Seminar in Economics in the student’s final year (Econ 198)
Requirements for Combined Major (Economics/Political Studies)
Students with an interest in both economics and Political Studies should consider either (a) a major in political economy (see political economy) or (b) a combined major in economics and Political Studies. Students interested in the combined
major in economics and Political Studies must meet all the requirements for the economics major with the following modifications. Students must take either the political studies senior seminar or the economics senior seminar. Students taking the economics senior seminar only need to complete two upper-level economics courses. Students not taking the economics senior seminar need to complete three upper-level economics courses. They must also meet the appropriate requirements in political studies. See Political Studies.
Double Major
Students must complete the requirements for both majors, including any thesis or honors requirements. Normally no more than two courses may be counted toward fulfilling the requirements in both fields. Honors candidates will be expected to achieve excellence in the above and to submit a worthy senior honors thesis.
Minor in Economics requires the following:
1. Principles of Macroeconomics (Econ 51)
2. Principles of Microeconomics (Econ 52)
3. Economic Statistics (Econ 91)
4. 1 Economic Theory course [either Macroeconomics Theory (Econ 104) or
5. Microeconomic Theory (Econ 105)]
6. 2 upper-level courses in economics (courses having Principles of Economics as a prerequisite).
Completion of Math 30 or equivalent is required before taking Macroeconomic Theory and recommended before taking Microeconomic Theory.
Special Economics Majors
With the approval of the Curriculum Committee, students may design special majors in economics. Examples include business economics, international economics and Asian economics. These special majors must include the six core courses in the regular economics major (two principles courses, two theory courses, statistics and econometrics) and the senior seminar. Special interests are accommodated in the nature of the four upper level courses. Selected courses in other fields may be used to satisfy this requirement.
Pitzer Advisers
- Maya Federman, Associate Professor (education, labor, health, environment)
- Fuchun Jin, Assistant Professor
- James Lehman, Professor (international trade and finance, trade and development policy, money and banking, public finance)
- Emma Stephens, Assistant Professor (development, agricultural economics, economic history and system dynamics)
- Linus Yamane, Professor (macroeconomics, econometrics, labor, Japanese economy)