Economics
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 Microeconomic Theory. Accounting courses do not fulfill the upper-level elective course requirement.
Students planning to study abroad or wanting to transfer in courses taken at institutions outside of the Claremont Colleges consortium should consult with an Economics advisor beforehand. At most one course for the major can be taken abroad. Additionally, only two courses taken at an institution outside of the Claremont Colleges consortium can be counted towards the major (any course taken abroad is included in this count). Econometrics cannot be taken abroad; similarly, students wanting to take Econometrics at an institution outside the Claremont Colleges consortium must get permission in advance and confirm if the course is eligible. These limits apply to the minor, combined major, special major, and to the economics courses in the Mathematical economics major.
Students intending to pursue graduate work in economics are strongly urged to major in Mathematical Economics or double major in Economics and Mathematics, due to the increased use of mathematical modeling in Economics at the graduate level.
Accelerated Program
Pitzer College and Claremont Graduate University offer an 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 should contact the Pitzer economics faculty for more information.
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. Currently, these sequences are: HMC: Math 12 (Linear Algebra) and either Math 13 (Differential Equations) or Math 62 (Intermediate Probability). CMC: Math 60 (Linear Algebra) and either Math 111 (Differential Equations) or Math 151 (Probability). POMONA: Math 60 (Linear Algebra) and either Math 102 (Differential Equations and Modeling) or Math 151 (Probability).
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. Accounting courses do not fulfill the upper-level elective course requirement. See the major descriptions above for additional information on study abroad and transfer courses.
Pitzer Advisers
- Maya Federman, Associate Professor (education, labor, health, environment)
- Fuchun Jin, Assistant Professor
- Emma Stephens, Assistant Professor (development, agricultural economics, economic history and system dynamics)
- Linus Yamane, Professor (macroeconomics, econometrics, labor, Japanese economy)