SMU Department of Economics - Undergraduate Degree Plans

The goal of undergraduate programs is to provide students with a basic understanding of economic theory, an appreciation for the methodology and purpose of economic research, and a firm grasp of economic institutions in an international context. The department contributes to achieving this goal in several ways: by providing a selection of degree plans and courses that allow to students to explore wide-ranging interests in economics; through its participation in interdisciplinary programs; and by providing a large service course component for first-year students.

The Department of Economics offers four separate undergraduate degree plans: B.A., B.S., B.S. with Systems Analysis, or B.S. with Finance Applications. While all four degrees share a common core curriculum – Principles of Microeconomics (ECO 1311), Principles of Macroeconomics (ECO 1312), Intermediate Microeconomics (ECO 3301), Intermediate Macroeconomics (ECO 3302) , introductory calculus (MATH 1309 or 1337), and basic statistics (STAT 2301, 2331, or 4340) – each of these degree programs contains a distinct bundling of economics and supplementary (accounting, computer science, etc) courses and places a different emphasis on topics covered and skills developed. In addition to the several choices of degree plans, the department offers a wide variety of upper level economics classes (4000-level and above).

The Bachelor of Arts (B.A.) degree in economics is designed primarily for students who want a liberal arts education with an emphasis on economics but with great breadth. This degree consists of at least 30 hours in economics, of which no more than six hours may be in courses below the 3000 level. MATH 1309 or 1337 and STAT 2301 or 2331 or 4340 are required.

The Bachelor of Science (B.S.) degree in economics offers more specialized training in economics and provides a firm basis for graduate study in business, economics, or law. Students are required to take six hours of calculus (MATH 1337 and 1338); three hours in statistics (STAT 2301, 2331, or 4340); 36 hours in economics, of which at least six hours must be at the 5000 or above level; and a higher proportion of advanced economics course than is required for the B.A. degree.

The B.S. with Systems Analysis (B.S.S.A.) degree offers integrated studies in economics, operations research, and computer science. It provides excellent preparation for graduate education in economics, business, or public administration and for service both in the public and private sectors where quantitative economists provide assistance in policy formulation. Students are required to take nine hours of calculus (MATH 1337, 1338 and 2339); 15 hours in computer science and/or operations research (CSE 1341, 1342, 2341, 2353, and 3358); three hours in statistics (STAT 2301, 2331, or 4340); and 36 hours of economics, of which at least six hours must be at the 5000 or above level.

The B.S. with Financial Applications (B.S.F.A.) degree combines specialized training in economics with concentration in areas significant to financial markets. Students are required to take three hours of calculus (MATH 1309 or 1337); three hours in statistics (STAT 2301, 2331, or 4340); three hours of accounting (ACCT 2301); three hours of computer science and/or operations research (CSE 1340 or 1341 or ITOM 3306); and 39 hours in economics, of which at least six hours must be at the 5000 or above level and nine hours must be satisfied by ECO 3355, 4368, and 4378.

Scholarly and creative achievement is encouraged through independent study and readings courses, academic internships, and the Departmental Distinction program. Departmental Distinction program requires an independent research paper and presentation as well as and an additional advanced course. The Department also selects outstanding seniors each year to receive various awards for outstanding classroom performance and service to fellow students. For example, each year a student with especially strong research skills is invited to submit a paper to the Dallas Economists' Club Outstanding Student competition.

Minor: Students who choose to minor in Economics are required to take 18 hours, six hours in addition to the economics core. MATH 1309 or 1337 and STAT 2301 or 2331 or 4340 are required. Students can choose to designate a specialization for their minor by taking two advanced courses in the same field (for example labor economics).

Interdisciplinary Programs: The Department participates in the B.A. in Public Policy in conjunction with the Department of Political Science. The degree is designed to provide students with the analytical skills and institutional knowledge to understand contemporary social issues. It is useful as preparation for work as an analyst in government and business and as preparation for postgraduate study in law, public policy, and the social sciences. This degree requires at least 15 hours of economics, with at least six hours at the 4000 level and above. Originally administered by the Department this degree is currently being administered by the Political Science Department. The Department is also an important contributor to the International Studies Major and the Markets and Culture Major. Students in these majors will typically take at least nine hours of economics.

Courses	Term Hours Required
	B.A.	B.S.	B.S.S.A.	B.S.F.A.
ECO CORE (1311, 1312, 3301, 3302)	12	12	12	12
Advanced Economics*	18^a	24^a,b	24^a,b	18^a,b
MATH (Calculus)	3^c	6^c	9^c	3^c
STAT 2301 or 2331 or 4340	3^d	3^d	3^d	3^d
ACCT 2301	0	0	0	3
CSE 1340 or ITOM 3306	0	0	0	3^j
CSE 1341 and 1342	0	0	6	0
Additional Courses in Computer Science	0	0	9^e	0
ECO 3355	0	0	0	3^f,i
ECO 4368	0	0	0	3^g,i
ECO 4378	0	0	0	3^h,i
TOTAL	36	45	63	51

* Advanced economics courses are defined as ECO 3355 and any economics course at the 4000- or 5000-level.

a. At most two of the following courses can be used toward the advanced economics requirement: ECO 4390, 4395-97, 4398, and 4399.

b. Must include at least six hours at the 5000 or above level. At least one of the approved fields listed must be completed by the advanced economics courses selected.

c. For B.A., either MATH 1309 or MATH 1337. For B.S., MATH 1309 or 1337 and MATH 1338. For B.S.S.A., MATH 1309 or 1337, 1338, and 2339. For B.S.F.A., either MATH 1309 or MATH 1337.

d. Business majors may use ITOM 2305 as a substitute for STAT 2301 or 2331 or 4340.

e. Required courses are CSE 2341, 2353, and 3358. CSE 3353 will replace CSE 3358 beginning in Spring 2010.

f. FINA 3330 can be used as a substitute for ECO 3355 but note that FINA classes are usually open to business majors only.

g. FINA 3320 can be used as a substitute for ECO 4368 but note that FINA classes are usually open to business majors only. FINA 3310 cannot substitute for ECO 4368.

h. FINA 4326 can be used as a substitute for ECO 4378 but note that FINA classes are usually open to business majors only.

i. Students with a double major in Economics and Business must take FINA 3320 (instead of ECO 4368). If the business major is in Finance or Financial Consulting, they must take FINA 4326 (instead of ECO 4378). All other double majors are strongly advised to take FINA 3330 (instead of ECO 3355) and FINA 4326 (instead of ECO 4378) in order to minimize the number of additional classes outside of Economics and Business they have to take to comply with the 50% rule imposed by the Cox School of Business.

The Bachelor of Arts Degree in economics is designed primarily for students who want a liberal arts education with an emphasis on economics but with great depth.

* Advanced economics courses are defined as ECO 3355 and any economics course at the 4000- or 5000-level.

The B.A. degree in economics requires 12 hours of the core ECO classes as well as 18 hours of advanced economics classes. MATH 1309 or 1337 and STAT 2301 or 2331 or 4340 are required.

The Bachelor of Science Degree in economics offers more specialized training in economics and provides a firm basis for graduate studies in economics, business, or law.

* Advanced economics courses are defined as ECO 3355 and any economics course at the 4000- or 5000-level.

The B.S. degree in economics requires 12 hours of the core ECO classes as well as 24 hours of advanced economics classes, 6 hours of calculus, and 3 hours of statistics.

The required math courses are MATH 1309 (Calculus for Business Majors) or MATH 1337 (Calculus I) and MATH 1338 (Calculus II). For the 3-hour statistics requirement, STAT 2301 (Statistics for Modern Business Decisions) or STAT 2331 (Introduction to Statistical Methods) or STAT 4340 (Statistical Methods for Engineers and Applied Scientists) is required. B.S. majors who are also business majors may substitute ITOM 2305 (Managerial Statistics) for the statistics requirement.

The Bachelor of Science with Systems Analysis Degree in economics offers integrated studies in economics, operations research, and computer science. It provides excellent preparation for graduate studies in economics, business, or public administration, and for service in both the public and private sector where knowledge of quantitative methods is a requirement.

* Advanced economics courses are defined as ECO 3355 and any economics course at the 4000- or 5000-level.

The B.S. with Systems Analysis degree in economics requires 12 hours of the core ECO classes as well as 24 hours of advanced economics classes, 9 hours of calculus, 3 hours of statistics, and a total of 15 hours in computer science.

The required math classes are MATH 1337 (Calculus I), MATH 1338 (Calculus II) and MATH 2339 (Calculus III).

For the 3-hour statistics requirement, STAT 2301 (Statistics for Modern Business Decisions), STAT 2331 (Introduction to Statistical Methods), or STAT 4340 (Statistical Methods for Engineers and Applied Scientists) is required. B.S.S.A. majors who are also business majors may substitute ITOM 2305 (Managerial Statistics) for the statistics requirement.

The classes for the basic 6-hour CSE requirement are 1341 (Principles of Computer Science I) and 1342 (Programming Concepts). The remaining required CSE classes are CSE 2341 (Principles of Computer Science II), CSE 2353 (Discrete Computational Structures) and CSE 3358 (Data Structures). CSE 3353 (Fundamentals of Algorithms) will replace CSE 3358 (Data Structures) beginning Spring 2010.

Note that the 15-hour CSE requirement for the B.S.S.A. degree will count towards 12-hour core requirement for the minor in computer science. Taking an additional 6 hours in advanced CSE will allow B.S.S.A. majors to graduate with a minor in computer science. Please contact the Department of Computer Science and Engineering for more information about this degree plan.

The Bachelor of Science with Finance Applications Degree in economics combines specialized training in economics with a concentration in areas significant to financial markets. It is particularly suited to those seeking careers in the financial sector.

* Advanced economics courses are defined as ECO 3355 and any economics course at the 4000- or 5000-level.

The B.S. with Finance Applications degree in Economics requires 12 hours of the core ECO classes as well as 15 hours of advanced economics classes, 3 hours of calculus, 3 hours of accounting, 3 hours of statistics, 3 hours of computer science, and 9 hours of classes with finance applications.

The class choices for the math requirement are MATH 1309 (Introduction to Calculus for Business and Social Science) or MATH 1337 (Calculus I). The required accounting class is ACCT 2311 (Fundamentals of Accounting I). For the 3-hour statistics requirement, STAT 2301 (Statistics for Modern Business Decisions), STAT 2331 (Introduction to Statistical Methods), or 4340 (Statistical Methods for Engineers and Applied Scientists) is required. B.S.F.A. majors who are also business majors may substitute ITOM 2305 for the statistics requirement. The class choices for the computer science requirement are CSE 1340 (Introduction to Computing Concepts) or 1341 (Principles of Computer Science I), Business majors may use ITOM 3306 to fulfill this requirement.

The 9 hours of finance applications classes are ECO 3355, ECO 4368, and ECO 4378. FINA 3330 (Money and Capital Markets) can be used as a substitute for ECO 3355, FINA 3320 (Financial Management) for ECO 4368, and FINA 4326 (Investment Analysis and Portfolio Management) for ECO 4378. Please note that openings in FINA classes are highly restricted; usually only business majors are able to enroll in FINA classes. FINA 3310 cannot substitute for ECO 4368.

Students with a double major in Economics and Business must take FINA 3320 (instead of ECO 4368). If the business major is in Finance or Financial Consulting, they must take FINA 4326 (instead of ECO 4378). All other double majors are strongly advised to take FINA 3330 (instead of ECO 3355) and FINA 4326 (instead of ECO 4378) in order to minimize the number of additional classes outside of Economics and Business they have to take to comply with the 50% rule imposed by the Cox School of Business.

Econometrics (2 out of 4)
5350 - Introduction to Econometrics
5375 - Economic and Business Forecasting
5385 - Data Mining Techniques for Economists

5359 - Economic Development: Microeconomics Perspectives
5360 - Economic Development: Macroeconomics Perspectives
5361 - Natural Resources and Energy Economics
5362 - Economic Growth

Economics of Industrial Organization (2 out of 2)
4371 - Theory of Industrial Structure
4382 - Economics of Regulated Industry

International Economics (2 out of 2)
4357 - International Trade
4358 - International Macroeconomic Theory and Policy

Labor Economics (2 out of 3)
4351 - Labor Economics
4361 - Economics of Education
5357 - Economics of Human Resource

Economics of Decision Making (2 out of 4)
5340 - Decision Making Under Uncertainty
5341 - Strategic Behavior
5353 - Law and Economics

Monetary Economics (2 out of 2)
4385 - Macro Theory and Policy
4386 - Topics in Monetary Economics

Public Economics (2 out of 3)
4366 - Economics of the Public Sector
5365 - Public Finance
5370 - Cost-Benefit Analysis

Students are encouraged to discuss these fields with faculty, especially while completing ECO 3301 and ECO 3302.

Note: 5000 or above level courses taken to complete an approved economic field may also be used to satisfy the requirement for the B.S., B.S.S.A., and B.S.F.A. degrees of at least 6 hours at the 5000 or above level.

The Department of Economics encourages students to complete at least one internship in preparation for the job market. Course credit is available (ECO 4395-97) for qualifying students who are undertaking an internship that involves significant economic research. The requirements for internship credit include the completion of a 15- to 20-page paper under the supervision of a faculty sponsor, the presentation of the paper before the faculty sponsor and the Director of Undergraduate Studies, a 3.0 G.P.A. requirement in economics, and the completion of relevant coursework. Please contact the Undergraduate Advising Office, 301D Umphrey Lee, for more information and an application.

To earn Departmental Distinction in Economics, a student must graduate with a 3.7 economics G.P.A. and a 3.5 overall G.P.A. In addition, economics majors of junior or senior standing must enroll in and successfully complete ECO 4398. The requirements for ECO 4398 include the completion of a 15- to 20-page research paper under the supervision of a faculty sponsor and the presentation of the results of this research before a faculty committee. Please contact the Undergraduate Advising Office, 301D Umphrey Lee, for more information and an application.

1. Students must receive at least C- in all math, statistics, and economics classes. B.S. finance students must receive at least C- in all math, statistics, and economics and finance classes.

2. Students must have 2.0 G.P.A. overall for all economics classes attempted at SMU. B.S. finance students must have 2.0 G.P.A. overall for all economics and finance classes attempted.

3. There is no minimum grade requirement for co-requirement such as CSE 1340, ACCT 2301, etc.

Note: Students receiving a D in a class taken for the major should consult with an advisor before repeating the class. In some cases it is best to take a different class for the major and use the class in which the student received a D for elective hours.

Students desiring a minor in economics must take the four economics CORE courses (ECO 1311, 1312, 3301, and 3302) and two courses at the 4000 or above level. MATH 1309 or 1337 and STAT 2301 or 2331 or 4340 are required (begin in Fall 2009). In order to graduate with a minor in economics, students must have a G.P.A. of at least 2.0 on all economics courses attempted at SMU. No grade less than C- will count towards the minor in economics degree. Independent study (ECO 4390), academic internship (ECO 4395-97), departmental distinction (ECO 4398) and research/reading seminar (ECO 4399) classes cannot be used toward an economics minor. Instead of a general minor in economics, a minor in a specialized field may be obtained if the student has successfully taken six hours in one of the eight fields currently approved by the Economics Department: International Economics, Public Economics, Labor Economics, Econometrics, Economics of Decision Making, Monetary Economics, Economics of Industrial Organization and Economic Growth and Development (see the previous page for the list of courses required for each field).

The Department of Economics will consider petitions for transfer credit from other four-year institutions. Only courses with matching prerequisites and requirements will be considered. Only in cases of exceptional educational opportunity (i.e., foreign or domestic university with exceptionally ranked economics department) will students be allowed to transfer credit of economics courses with prefixes of 4000 or above. Credits received through the SMU Study Abroad program appear with SMU course title and catalog numbers (and are not considered transfer credits).

As minimum requirements, a candidate for a degree in Dedman College must take the following hours in residence at SMU:
1. A total of 60 hours.
2. A total of 18 hours of advanced work in the major.
3. A total of 45 of the last 60 hours earned toward the degree

Students may obtain additional information, registration forms, add-drop slips, and petition forms in the Advising Office, 301D Umphrey Lee. Staff in this office will refer students to the faculty adviser for approval signatures and for advising conferences as needed. All economics majors should check their e-mail frequently for important information and announcements.

Students are responsible for ensuring that all of their graduation requirements are satisfied. The availability of advising should in no way imply that the Department of Economics assumes responsibility for the correctness of student choices. Questions regarding University or General Education requirements should be discussed with the students Degree Councilor in 214 Dallas Hall.