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General Education Requirements

The Department offers two courses that meet the Abstract Reasoning component of the Analytical Reasoning Requirement, ECON 101 and 103; and one course that fulfills the Domestic component of the Perspectives on Diversity Requirement, ECON 345. The Department also offers an occasional Earlham Seminar.

 

Economics Major

Students concentrating in Economics take a minimum of 36 credits. All majors must take the following courses which total 24 credits:

  • ECON 101 Introduction to Macroeconomics
  • ECON 103 Introduction to Microeconomics
  • ECON 204 Statistics for Economics
  • ECON 301 Intermediate Macroeconomics
  • ECON 303 Intermediate Microeconomics
  • ECON 305 Econometrics
  • ECON 310 History of Economic Thought
  • ECON 488 Senior Capstone

In addition, majors must take four more upper-level Economic courses (numbers 300 or above) totaling 12 credits. No more than 2 of these 12 elective credits can be at the 400 level.

 

The Quantitative Major

Students pursuing the Quantitative Major in Economics take a minimum of 38 credits. All majors must take the following courses which total 32 credits:

  • ECON 101 Introduction to Macroeconomics
  • ECON 103 Introduction to Microeconomics
  • ECON 204 Statistics for Economics
  • ECON 205 Mathematical Foundations for Economics
  • ECON 308 Quantitative Intermediate Macroeconomics
  • ECON 309 Quantitative Intermediate Microeconomics
  • ECON 305 Econometrics
  • ECON 306 Applied Econometrics
  • ECON 313 Game Theory
  • ECON 488 Senior Capstone

In addition, Quantitative Economics majors must take two more upper-level Economic courses (numbers 300 or above) totaling six credits.

While not required, students in the Quantitative Economics major who are interested in pursuing graduate study in Economics are strongly encouraged to take Calculus A, Calculus B, Introduction to Proofs, Multivariate, Linear Algebra, Differential Equations, and Mathematical Statistics in the Mathematics Department.


The following policies apply to both Economics majors:

  • Students may transfer in only three courses totaling nine credits towards their major.
  • ECON 301, ECON 303, ECON 305, ECON 306, ECON 308, ECON 309, ECON 310 and ECON 313 must be taken at Earlham — courses may not be transferred in and substituted for these courses. In the event a student takes any of these courses in their Senior year and fails them, they may petition the Department to take an equivalent course at another college or university. However, the transfer of these credits must fall within the nine credit constraint stated above.
  • Economic majors must be in residence in their Senior year to take ECON 486 and ECON 488. Only if a student plans to graduate in less than four years, can they take ECON 486 and ECON 488 during their third year, though they still must meet all the prerequisites.
  • Students who fail ECON 486 in the Fall semester may petition the Department to have a retake of ECON 486 in the Spring semester and to do their Senior Capstone Thesis work the following Fall semester. The granting of such an arrangement will be made on a case-by-case basis. A student may not petition to take ECON 486 for the first time in the Spring semester.
  • Completion of AP Exams or IB A levels in Economics do not substitute for the Department's introductory courses.
  • Students may earn credit toward the major for courses taken on off-campus study programs, when the courses would count toward the major if they were offered on campus. Because off-campus courses vary a lot in their demands and quality, the Department will need to examine the course syllabus after a student returns from an off-campus program to determine whether the course counts toward the Economics major.

 

The Minor

Students obtaining a Minor in Economics must take a minimum of 18 credits. The following courses which total nine credits are required of all Economics minors:

  • ECON 101 Introduction to Macroeconomics
  • ECON 103 Introduction to Microeconomics
  • ECON 204 Statistics for Economics

In addition, minors must earn nine elective credits in Economics courses numbered 200 or higher. A student may transfer in one course of up to three credits toward the Minor.

Earlham College, an independent, residential college, aspires to provide the highest-quality undergraduate education in the liberal arts, including the sciences, shaped by the distinctive perspectives of the Religious Society of Friends (Quakers).

Earlham College
801 National Road West
Richmond, Indiana
47374-4095
1-765-983-1200 — Main Switchboard
1-800-EARLHAM (327-5426) — Admission


NOTICE OF NONDISCRIMINATORY POLICY AS TO STUDENTS

Earlham admits students of any race, color, national and ethnic origin, age, gender and sexual orientation to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. It does not discriminate on the basis of race, color, national and ethnic origin, age, gender and sexual orientation in administration of its educational policies, admissions policies, scholarship and loan programs, and athletic and other school-administered programs.