Econometrics & Quantitative Economics, BSLAS
for the degree of Bachelor of Science in Liberal Arts & Sciences Major in Econometrics & Quantitative Economics
Econometrics provides students with a quantitative curriculum consisting of economics (specifically in econometrics), statistics, mathematics, and computer science. Students will be trained in advanced data analysis skills to answer economic questions, uncovering relationships while taking all information into account. These skills are very important in the new world of large administrative data sets. The goal is to answer economic questions with the data by, for example, performing market analyses or drafting policy evaluations.
Students with this STEM-designated Bachelor of Science degree will find a variety of career paths available, and will be prepared for a variety of graduate programs. In particular, students trained in econometrics and quantitative economics possess empirical skills for working with large data sets across a variety of sectors including banking and finance, healthcare, and government.
Undergraduate Degree Programs in Economics
For further information, please visit the Economics undergraduate program page.
for the degree of Bachelor of Science in Liberal Arts & Sciences Major in Econometrics & Quantitative Economics
Graduation Requirements
Minimum hours required for graduation: 120 hours.
Minimum hours required major and supporting course work: normally equates to 63-65 hours including a minimum of 30 hours of economics courses excluding ECON 199, ECON 220, ECON 398, and ECON 399. Twelve hours of 300- and 400-level courses in the major must be taken on this campus.
University Requirements
Minimum of 40 hours of upper-division coursework, generally at the 300- or 400-level. These hours can be drawn from all elements of the degree. Students should consult their academic advisor for additional guidance in fulfilling this requirement.
The university and residency requirements can be found in the Student Code (§ 3-801) and in the Academic Catalog.
General Education Requirements
Follows the campus General Education (Gen Ed) requirements. Some Gen Ed requirements may be met by courses required and/or electives in the program.
| Code | Title | Hours |
|---|---|---|
| Composition I | 4-6 | |
| Advanced Composition | 3 | |
| Humanities & the Arts (6 hours) | 6 | |
| Natural Sciences & Technology (6 hours) | 6 | |
| Social & Behavioral Sciences (6 hours) | 6 | |
| Cultural Studies: Non-Western Cultures (1 course) | 3 | |
| Cultural Studies: US Minority Cultures (1 course) | 3 | |
| Cultural Studies: Western/Comparative Cultures (1 course) | 3 | |
| Quantitative Reasoning (2 courses, at least one course must be Quantitative Reasoning I) | 6-10 | |
| Language Requirement (Completion of the fourth semester or equivalent of a language other than English, or completion of the third semester in two different languages other than English is required) | 0-20 | |
Major Requirements
| Code | Title | Hours |
|---|---|---|
| Economics Courses including: | 30 | |
| ECON 102 | Microeconomic Principles | 3 |
| ECON 103 | Macroeconomic Principles | 3 |
| ECON 198 | Economics at Illinois | 1 |
| ECON 202 | Economic Statistics I | 3 |
| ECON 203 | Economic Statistics II | 3 |
| ECON 302 | Inter Microeconomic Theory | 3 |
| ECON 303 | Inter Macroeconomic Theory | 3 |
11 additional hours of economics at the 300- or 400-level 1 | ||
| 12 hours of economics at the 400-level chosen from a set of courses on econometrics, quantitative economics, computational economics, and mathematical economics. | 12 | |
| Mathematics, Statistics, and Computer Science Courses including: | 15-16 | |
| MATH 220 | Calculus | 5 |
| or MATH 221 | Calculus I | |
| MATH 231 | Calculus II | 3 |
| MATH 225 | Introductory Matrix Theory | 2 |
| Statistics | 3 | |
| Statistics Programming Methods | ||
| CS 105 | Intro Computing: Non-Tech (or CS 101 or CS 125) | 3 |
| Supporting course work | 6 | |
| Six hours of courses outside of economics but related to econometrics, quantitative economics, computational economics, or mathematical economics. This would include additional courses in mathematics, statistics, or computer science. | ||
| Total Hours | 63-65 | |
- 1
Excluding ECON 398 and ECON 399.
for the degree of Bachelor of Science in Liberal Arts & Sciences Major in Econometrics & Quantitative Economics
Sample Sequence
This sample sequence is intended to be used only as a guide for degree completion. All students should work individually with their academic advisors to decide the actual course selection and sequence that works best for them based on their academic preparation and goals. Enrichment programming such as study abroad, minors, internships, and so on may impact the structure of this four-year plan. Course availability is not guaranteed during the semester indicated in the sample sequence.
Students must fulfill their Language Other Than English requirement by successfully completing a fourth level of a language other than English. See the corresponding section on the Degree and General Education Requirements page.
| First Year | |||
|---|---|---|---|
| First Semester | Hours | Second Semester | Hours |
| Free elective course | 1 | ECON 202 | 3 |
| ECON 102 or 103 | 3 | ECON 103 or 102 | 3 |
| MATH 220 or 221 | 4 | MATH 231 | 3 |
| Composition I or General Education course | 4 | General Education course or Composition I | 3 |
| Language Other than English (3rd level) | 4 | Language Other than English (4th level) | 4 |
| 16 | 16 | ||
| Second Year | |||
| First Semester | Hours | Second Semester | Hours |
| ECON 203 | 3 | ECON 198 | 1 |
| ECON 302 | 3 | ECON 303 | 3 |
| CS 105 or CS 125 or CS101 | 3 | STAT 385 | 3 |
| General Education course | 3 | Supporting Coursework | 3 |
| General Education course | 3 | General Education course | 3 |
| Free elective course | 2 | ||
| 15 | 15 | ||
| Third Year | |||
| First Semester | Hours | Second Semester | Hours |
| ECON 300-400 level course | 3 | ECON 300-400 level course | 3 |
| ECON 300-400 level course | 3 | ECON 300-400 level course | 2 |
| Supporting Coursework | 3 | General Education course | 3 |
| MATH 225 | 2 | General Education course | 3 |
| General Education course | 3 | Free elective course | 3 |
| 14 | 14 | ||
| Fourth Year | |||
| First Semester | Hours | Second Semester | Hours |
| ECON 400-level course | 3 | ECON 400-level course | 3 |
| ECON 400-level course | 3 | ECON 400-level course | 3 |
| General Education course | 3 | Free elective course | 3 |
| Free elective course | 3 | Free elective course | 3 |
| Free elective course | 3 | Free elective course | 3 |
| 15 | 15 | ||
| Total Hours 120 | |||
for the degree of Bachelor of Science in Liberal Arts & Sciences Major in Econometrics & Quantitative Economics
To accomplish the educational objectives and to fulfill accreditation criteria, all economics programs provide the knowledge, experience, and opportunities necessary for students to demonstrate their attainment of the following outcomes:
- Analytical Skills/Problem-Solving: ECON 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: ECON 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: ECON 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: ECON students will develop deeper analytical, critical, and quantitative skills in specialized areas by applying economic concepts to real world situations.
- Interdisciplinary Knowledge, Diverse Issues, and Global Consciousness: ECON students will broaden their global and disciplinary knowledge, enhancing their understanding of the world around them both within economics and beyond.
- Communication and Leadership: ECON 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 degree of Bachelor of Science in Liberal Arts & Sciences Major in Econometrics & Quantitative Economics
Department of Economics website
Economics faculty
Economics advising
Overview of College Admissions & Requirements: Liberal Arts & Sciences