Economics Minor
for the Undergraduate Minor in Economics
The Minor in Economics is designed to provide students with an understanding of central issues and analytical concepts in economics, including consumer choice, profit-maximization, banking and finance, healthcare, education, fiscal and monetary policy, abstract economic modeling, and data analysis for economics. It is customizable to students’ interests based on its three track options: Microeconomics, which explores how people and firms consume and produce goods and services; Macroeconomics, which explores countries’ economic growth, fiscal and monetary policy, and international trade; or Econometrics, encompassing mathematical models of economic behavior and quantitative methods. All University of Illinois Urbana-Champaign undergraduate students are eligible to earn the Minor in Economics except for those enrolled in one of these majors: Economics BALAS, Econometrics & Quantitative Economics BSLAS, or Computer Science + Economics BSLAS. Prerequisites for each track of the minor vary; please consult the desired minor track for additional information.
Prerequisite to applying for the Economics Minor:
Microeconomics and Macroeconomics tracks:
- MATH 220-Calculus or MATH 221- Calculus I with a grade of C or higher. MATH 234 can substitute for MATH 220 or MATH 221, with a grade of C or higher. Discuss your intended plan with the Department of Economics Advising Office to ensure MATH 234 will prepare you for advanced Economics coursework.
- ECON 102 and ECON 202 with a 2.33 or higher Illinois Economics GPA. At least one ECON course must be taken on campus (please see an Economics Academic Advisor if you have completed these courses off-campus or have other credit).
Econometrics track:
- MATH 220-Calculus or MATH 221- Calculus I with a grade of C or higher.
- MATH 225 with a grade of C or higher. (Recommended prior to application, but not required)
- ECON 102, ECON 202 and ECON 203 with a 2.33 or higher Illinois Economics GPA. At least one ECON course must be taken on campus (please see an Economics Academic Advisor if you have completed these courses off-campus or have other credit).
for the Undergraduate Minor in Economics
| Code | Title | Hours |
|---|---|---|
| Core Economics Requirements | ||
| ECON 102 | Microeconomic Principles | 3 |
| ECON 202 | Economic Statistics I | 3 |
| ECON 203 | Economic Statistics II | 3 |
| ECON 302 | Inter Microeconomic Theory | 3 |
| Students will select one of the following tracks: | ||
| Microeconomics Track | 6 | |
Two 400-level elective courses in Microeconomics: | ||
| Public Sector Economics | ||
| Urban Economics | ||
| Economics of Labor Markets | ||
| Development Economics | ||
| Program Evaluation in Developing Economies | ||
| The Latin American Economies | ||
| Industrial Comp and Monopoly | ||
| Govt Reg of Economic Activity | ||
| Econ of Innovation and Tech | ||
| Economics of the Digital Economy | ||
| Law and Economics | ||
| Topics in Economics | ||
| Macroeconomics Track | 9 | |
| Macroeconomic Principles | ||
| Inter Macroeconomic Theory | ||
One 400-level elective course in Macroeconomics: | ||
| International Economics | ||
| Macroeconomic Policy | ||
| The Latin American Economies | ||
| Topics in Economics (Including: Monetary Policy, Economic Growth)) | ||
| Econometrics Track | 9 | |
| Intro to Applied Econometrics | ||
Two 400-level elective courses in Econometrics: | ||
ECON 465 | ||
| Topics in Economics (Including: Financial Econometrics, Economic Forecasting, Topics in Econometrics, Numerical Methods for Economics) | ||
| Total Hours | 18-21 | |
for the Undergraduate Minor in Economics
The Economics minor provides the knowledge, experience, and opportunities necessary for students to demonstrate their attainment of the following outcomes:
- Analytical Skills/Problem-Solving: students will effectively visualize, conceptualize, articulate, and solve complex problems or address problems that do not have a clear answer with available information, through experimentation and observation, using microeconomic and macroeconomic theory, as well as calculus and statistical tools.
- Critical Thinking: students will apply economic analysis to everyday problems, helping them to understand events, evaluate specific policy proposals, compare arguments with different conclusions to a specific issue or problem, and assess the role played by assumptions in arguments that reach different conclusions to a specific economic or policy problem.
- Quantitative Reasoning: students will understand how to apply empirical evidence to economic arguments. Specifically, they may obtain and/or collect relevant data, develop empirical evidence using appropriate statistical techniques, and interpret the results of such analyses.
- Specialized Knowledge and Practical Application: students will develop deeper analytical, critical, and quantitative skills in specialized areas by applying economic concepts to real world situations.
- Communication and Leadership: students will build skills to work as part of a team and lead others, ensuring they are prepared to navigate diverse audiences and situations.
for the Undergraduate Minor in Economics
Department of Economics
Economics Minor Website
Economics Advising
Advising email: econug@illinois.edu
College of Liberal Arts & Sciences
Declaring a minor in the College of Liberal Arts & Sciences page
Overview of College Admissions & Requirements: Liberal Arts & Sciences