UW-Milwaukee Economics Undergraduate Program

The Department of Economics offers a wide variety of introductory and field courses that allow one to earn either a major or minor. This page gives an overview of the Department of Economics Undergraduate Program. Official details are available from one of our Economics Undergraduate Advisors or from the following links from the UWM Undergraduate Bulletin:

Jump-to:
Program Overview
Major
Minor
Procedure for Declaring a Major or Minor

Program Overview

Courses are grouped into different modules:

Economic Theory
Economic Theory is the basic building material for most other fields. Each major is required to take tee introductory theory courses of Econ 103 (Micro) and 104 (Macro), as well as the intermediate theory courses of Econ 301 (Micro) and 302 (Macro).

Quantitative Methods
These courses teach the fundamentals of economic interest. The courses present mathematical models which capture and extend the economic theory taught in the required courses.

The Economics of Public Policy
This module presents the economic issues and prescriptions in a variety of critical public policy areas. Topics include the blight and rejuvenation of inner cities, the movement of industry into the Sunbelt, the soaring cost of medical care, the degrading of our environment, etc.

Strategy, Law and the Economy
This module presents the crucial connections between the economy and the legal system. Laws influence property rights, the ability to trade and enforce contracts. Specific laws limit mergers, prohibit strategic pricing, and regulate entire industries.

Labor Economics
These courses explore the operation and policy arising from the labor market. Topics include the role of unions, policies to alleviate unemployment and poverty, the minimum wage, education, training, and the economics of human resources.

International Economic Relations
The world's economies are increasingly linked with the rise of international trade, multinational corporations and intermeshed financial markets. This module provides critical analysis of this trend, those who benefit, those that are left out and the role of public policy.

The Department offers three optional concentrations within the major in International Economics, Quantitative Methods and Graduate Preparation.

MAJOR or MINOR in Economics

The major in Economics leads to the B.A. in the College of Letters and Science.

MAJOR

The major in Economics requires a minimum of 30 credits including the following:  

Econ 103 Principles of Microeconomics 3 cr
Econ 104 Principles of Macroeconomics 3 cr
Econ 210 Economic Statistics* 3 cr
Econ 301 Intermediate Microeconomics 3 cr
Econ 302 Intermediate Macroeconomics 3 cr

(*Bus Adm 210 (Introduction to Management Statistics) or MthStat 215 (Elementary Statistical Analysis) may be substituted for Econ 210 and will count in the Major GPA.)

At least 15 credits must be in upper-division (300-level and above) economics courses taken in residence at UWM. At least one course must be at the 400 level or above, excluding Econ 415.

To major in economics, students must earn a grade of at least C in Econ 103 and 104, attain at least a 2.5 GPA in all credits in the major attempted at UWM, and attain at least a 2.5 GPA on all major credits attempted when transfer work is included along with the UWM work.

Majors must complete a minimum of 60 credits outside of the fields of economics and business administration. Students with a major outside of the College of Letters and Science may pursue a second major in economics without meeting other L&S requirements. Majors and those considering a major are encouraged to see an Economics Department undergraduate advisor as soon as possible.

Optional Concentrations

The Department offers three optional concentrations within the major. While completing the major requirements outlined above, students may elect to complete one of the following sets of requirements. (For courses that meet the requirements of each module, see the Economics Courses list.)

  • International Economics - three courses from the international module
  • Quantitative Methods - three courses from the quantitative methods module
  • Graduate Preparation - two courses each from the quantitative method module and the economics theory module as follows:
    • Econ 506 - Mathematical Economics I
    • Econ 606 - Mathematical Economics II
    • Econ 413 - Mathematical Statistics for Economists
    • Econ 513 - Econometrics

Research Requirement (new since January 2008)

All majors in economics must complete a research experience by selecting a 400- or 500-level course (except Econ 415) in which they will write and present a research paper. Eligible courses include Econ 403, 404, 405, 411, 413, 422, 426, 432, 437, 447, 448, 454, 455, 506, 513, 529, or 699. The contents of the paper and the presentation of the results will be arranged by the student with the faculty member teaching the course at the beginning of the semester. Once the paper is complete and has been presented in class, the student will submit to the faculty member a Research Requirement Completion form to indicate that this degree requirement has been satisfied. This form will be signed by the faculty member and submitted to the Chair of the Economics Department.

Students enrolling before Fall 2006 may choose to complete the Capstone Requirement in place of the Research Requirement. For the major in Economics, this entails taking a 400 level or above course (except 415) after having attained senior status. Students should check with their L&S advisor as to the L&S requirements if they choose to meet the Capstone instead of the Research Requirement.

MINOR

The minor in economics requires a minimum of 18 credits, including:

Econ 103 Principles of Microeconomics 3 cr
Econ 104 Principles of Macroeconomics 3 cr
Econ 210 Economic Statistics* 3 cr

*Bus Adm 210 (Introduction to Management Statistics) or MthStat 215 (Elementary Statistical Analysis) may be substituted for Econ 210.

The remaining 9 credits must be in upper-division (300-level and above) economics courses; 9 credits in upper-division courses must be taken in residence at UWM.

Students must attain at least a 2.5 GPA in all credits in the minor attempted at UWM and attain at least a 2.5 GPA on all minor credits attempted when transfer work is included along with the UWM work.

Procedure for Declaring a Major or Minor

You must declare that you are majoring or minoring in economics. To do this, you must complete the Economics Declaration of Major/Minor Form and discuss your program with a faculty Undergraduate Advisor. Forms for declaring a Major or Minor can also be picked up in the Economics Department - Bolton 802.