Professor Jim Hornsten is our advisor for first-year students. Learn more about first-year advising in the video below.
THE FIELD OF ECONOMICS
What is Economics?
Economics is the study of how we make choices in the face of scarcity and how those choices motivate behavior. Learn more about the exciting field of economics.
What can I do with an Economics degree?
A student of economics will have a good understanding of how markets function. This knowledge is useful for a variety of entry-level jobs in government, industry, or finance.
A rapidly growing area of employment for majors, especially those who have strong analytical skills in mathematics and statistics, is management consulting. Another is banking, both commercial banking and investment banking. Governments at all levels, including international organizations such as the United Nations, are also significant employers of economics majors for positions involving analyses of revenues and expenditures or cost-benefit studies of programs in education, health, and transportation.
GETTING STARTED IN THE MAJOR
Most of our students have never taken economics before coming to Northwestern. The usual starting point is Economics 201 Introduction to Macroeconomics, then Economics 202 Introduction to Microeconomics, followed by Economics 310-1 Microeconomics I. We offer these classes every quarter and we try to offer enough seats so that they never close.
- More about our curriculum.
- See a sample four-year schedule for Economics majors.
- A full list of the classes we offer, including times and days.
What is the recommendation for students with AP/IB/A-Level Economics credit?
Which introductory statistics class should I take?
Which introductory math classes should I take?
Most 300-level economics classes use algebra, graphical analysis, and derivatives. The minimum math requirement for economics is Mathematics 220-1 Single-Variable Differential Calculus. You will have no problem completing the major with just Mathematics 220-1; however, some upper-level economics classes require more advanced mathematical tools, and we recommend that you take as much math as you are comfortable taking.
Many economics students double-major in mathematics. Math classes of particular interest are Mathematics 220-2 Single-Variable Integral Calculus, 230-1 Multivariable Differential Calculus, 240 Linear Algebra, 300 Foundations of Higher Mathematics, 310 sequence Probability, and Stochastic Processes, and 320 sequence Real Analysis.
How do I declare a major?
We are thrilled that you are interested in studying economics! Here are some next steps to consider:
- Contact an economics advisor.
- Consult the Weinberg College Advising page.
- The Roads to Business website gives an overview of the pre-business opportunities offered at Northwestern. Watch the Roads to Business Panel for more information.
- A partial list of some of the business-related student organizations on the Northwestern campus.
- Consult the Weinberg Transfer Students page.
What are some extracurricular activities I can participate in?
There are many clubs and activities outside of the classroom where students can meet other students who are interested in economics. The Undergraduate Economic Society (UES), Womxn in Economics (WiE) and the Northwestern Economic Tournament (NET) are all clubs sponsored by our department.
The department also hosts a variety of events throughout the year including the Feed Your Mind Series and faculty excursions.
Can I study abroad?
Check out our Study Abroad page for more information regarding credit for study abroad courses.
Are there research opportunities available to undergraduates?
Northwestern is a top research university and our undergraduates often play a role as research assistants in advancing the frontiers of knowledge. Learn more about undergraduate research within the department.
Additionally, the EconLab is a new space for undergraduates to engage in part-time research and learn more closely about the tools and questions that are addressed using Economics. It is ideal for students interested in pursuing a career in research.
Please enjoy the following videos by EconLab participants, Rui Du '21 and Ginny Ip '21.
What are some complementary programs?
Many students who are considering economics might also be interested in these programs:
- Mathematical Experience for Northwestern Undergraduates (MENU) - A first-year math sequence for strong quantitative students. This program starts in the Fall Quarter of each year.
- Mathematical Methods in the Social Sciences (MMSS) - An interdisciplinary applied math and social sciences double major. You can apply to it at the start of your first year or the start of your sophomore year.
- Kellogg School of Management Certificate Programs in Financial Economics or Managerial Analytics - These are four-course sequences that begin in the Fall Quarter of junior or senior year for students who demonstrate strong quantitative skills in prerequisite courses.
- Business Institutions Program - A minor that applies many of the tools from the social sciences and history to bring an understanding of the way that business institutions function in society.
- Learning and Organizational Change (LOC) - A major in the School of Education and Social Policy (SESP) that prepares its students to consult with businesses and other organizations that are trying to recreate themselves or adapt themselves to new roles.
- Industrial Engineering and Management Sciences (IEMS) - This major is in the McCormick School of Engineering and Applied Sciences and applies the tools of engineering to many business-related issues
- Medill Integrated Marketing Communications (IMC) Certificate - A five-credit program designed to prepare students for entry-level marketing communications positions including advertising, direct, database, e-commerce, interactive marketing, PR, and corporate communications.
Who can I contact for more information about the Economics major?
If you have general questions about the Economics undergraduate program, please email us at firstname.lastname@example.org.
You can also get in touch with the Economics Department's advisor for first-year students, James Hornsten. First-year student office hours are by appointment by emailing James Hornsten.