Economics Major
Major Description
Economics is the study of microeconomic topics like supply and demand, means of production, distribution of goods and services, market structures, and consumer choice, and macroeconomic topics such as trade, national income, employment, inflation, wealth inequity, public finance, and monetary policies.
Coursework relies heavily on mathematical theory and empirical modeling, so calculus, statistics, and econometrics are used throughout the curriculum. The study of economics attracts a diverse range of students who bring an analytical mindset to learning more about human behavior, incentives, and decision-making processes.
Transfer students should not expect to enter the major. Students will need to begin their Wesleyan Economics major with ECON110, even if they have completed multiple courses at prior institutions. Potential transfer students are encouraged to consult the Economics Department chair prior to accepting a transfer spot at Wesleyan University.
Admission to the Major
For students who entered Wesleyan in 2025 or earlier: Students intending to major in Economics must complete Introduction to Economic Theory (ECON110). The prerequisite for ECON110 is calculus. The calculus requirement can be fulfilled by completing ECON102, MATH120, or MATH121. It can also be fulfilled by a score of 4 or higher in AP Calculus (AB or BC), by receiving a 5 or higher on the IB Higher Math test, or by placing into MATH122 or higher according to the Wesleyan Math Placement test. Students can be exempted from the ECON110 course requirement if they have a score of 4 or higher on both AP Micro and AP Macro or equivalent IB scores. Students who are exempted from ECON110 must meet the math pre-requisite and complete a 200-level Economics elective before continuing into the core courses (ECON300, ECON301, and ECON302).
Through spring 2026: to be accepted into the major, students must also have either completed or be enrolled in Introductory Econometrics (ECON300), Microeconomic Analysis (ECON301), or Macroeconomic Analysis (ECON302). All of these classes require students to have completed ECON110 or the bypass route (scores of 4 or higher on both AP Micro and AP Macro or equivalent IB scores, completion of a 200-level Economics elective, and the math requirement for ECON110).
From fall 2026: to be accepted into the major, students must also have either completed or be enrolled in Microeconomic Analysis (ECON301), or Macroeconomic Analysis (ECON302). All of these classes require students to have completed ECON110 or the bypass route (scores of 4 or higher on both AP Micro and AP Macro or equivalent IB scores, completion of a 200-level Economics elective, and the math requirement for ECON110. From fall 2026 ECON300 will be replaced with ECON303 which will require both ECON301 and ECON302 as prerequisites.
In addition, there is a probability and statistics pre-requisite for ECON300 and ECON302. The probability and statistics prerequisite can be fulfilled by completing ECON103, MATH132, or PSYC200, or by receiving a score of 4 or higher on AP Statistics or a 5 or higher on the IB Higher Math test.
Through spring 2026: a student who fails to obtain a grade of C+ or better in ECON110 may be admitted to the major only after obtaining a grade of C+ or better in ECON300, ECON301, or ECON302 and a student who has the ECON110 bypass must obtain a grade of C+ or better in one of the ECON300, ECON301, or ECON302. From fall 2026: a student who fails to obtain a grade of C+ or better in ECON110 may be admitted to the major only after obtaining a grade of C+ or better in ECON301, or ECON302.
Economics majors are expected to complete ECON301 and ECON302 no later than the fall of junior year. As of fall 2026: ECON300 will be replaced with ECON303, which requires prior completion of both ECON301 and ECON302. Students are expected to complete ECON303 by the end of junior year.
For students who enter Wesleyan in 2026 or later: To enter the Economics major, students must declare the major in the second semester of sophomore year and must complete
- Introduction to Economic Theory (ECON110). The prerequisite for ECON110 is calculus. Through 2026-27: the calculus requirement can be fulfilled by completing ECON102, MATH120, or MATH121, a score of 4 or higher in AP Calculus (AB or BC), by receiving a 5 or higher on the IB Higher Math test, or by placing into MATH122 or higher according to the Wesleyan Math Placement test. From fall 2027: the calculus requirement can be fulfilled by completing a MATH class numbered 120 or higher, a score of 4 or higher in AP Calculus (AB or BC), or by receiving a 5 or higher on the IB Higher Math test.
- At least one of the three core theory courses – Microeconomic Theory (ECON301), Macroeconomic Theory (ECON302), and Introduction to Econometrics (ECON303). Both ECON301 and ECON302 must be completed prior to enrollment in ECON303. ECON302 has a probability and statistics pre-requisite.
- At least three courses, with at least two numbered 200 or higher, with grades of B- or higher in at least two core courses (ECON110, ECON301, ECON302, ECON303).
- General Education Stage 1 expectations.
- Overall Wesleyan GPA of 85.0 or better.
No student may enter the major after sophomore year.
Major Requirements
The Economics curriculum consists of three types of courses: Introductory, Core, and Elective. All students majoring in economics must complete the introductory course, ECON110, and complete at least eight letter-graded courses numbered 201 or above. Of these eight, three must be the core courses, and five must be electives (at least 3 must be at the 300-level or higher). All courses counted toward the economics major must be taken for a letter grade.
Economics majors fulfill the capstone requirement by successfully completing three upper-level electives, each of which requires a substantial research paper or project.
For students who entered Wesleyan in 2025 or earlier: Students may bypass ECON110 as per the exemption explained in the first paragraph of “ADMISSION TO THE MAJOR”. All core classes must be taken at Wesleyan. Up to two elective courses in economics taken at another institution may count toward the minor as the lower-tier electives only, subject to the department chair’s approval. ECON301 and ECON302 must be completed by fall of junior year, and ECON303 must be completed by the end of junior year.
For students who enter Wesleyan in 2026 or later: these rules for pacing and completion of the major also apply:
- Majors must complete all core courses (ECON110, ECON301, ECON302, ECON303) with passing grades by the end of junior year.
- Majors must complete at least 5 letter-graded economics courses by the end of junior year.
- Elective courses in economics taken at another institution may transfer to Wesleyan towards graduation only, with limited exceptions for credit towards the major subject to the department chair’s approval. Exceptions are likely to be made only for academic year courses (not summer courses) at the London School of Economics, Oxford, and Cambridge.
- Students cannot count more than one course towards this major that is also counted towards completion of any of their other majors, minors, or certificates.
- Majors must maintain an overall Wesleyan GPA of 85.0 or better.
- Majors must also complete General Education Stage 2 expectations to complete the major.
| Code | Title | Hours |
|---|---|---|
| Required Courses | ||
| Core Courses | 3 | |
| Microeconomic Analysis | ||
| Macroeconomic Analysis | ||
| Introductory Econometrics | ||
| Electives | 5 | |
200-Level Electives | ||
300-Level Electives (3 required) | ||
Student Learning Goals
Economics majors acquire the following knowledge and competencies:
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The cultivation of a critical mindset and rigorous logical reasoning
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The capability to read and understand scholarly literature
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Quantitative methodologies and statistical skills, and working with large data sets
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The capability to engage in theoretical and empirical analysis of economic problems
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Research, analysis, and communications skills
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A fundamental knowledge of how resources and wealth have been created, consumed, and transferred through human history
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An understanding of economic principles and market forces and how they shape society such as macroeconomics, microeconomics, supply and demand, market structures, economic growth, inflation, employment, and international trade
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Adaptability and versatility in strategic problem-solving.
Students will demonstrate their knowledge and abilities through research projects, critical analysis papers, participation in class discussions, collaborative group work, and multimedia presentations. Written exams, peer review, faculty committees, and self-assessments will also evaluate their class performance.
Advanced Placement
Please see the department web page for the latest information on the advanced placement policy.
Additional Information
Academic Opportunities
Phi Beta Kappa
This is a national honor society for the liberal arts. The department nominates senior Economic majors based on an evaluation of their GPA in economics courses, their overall GPA, their fulfillment of General Education expectations, and their performance in the department's core courses.
Contact Info
Ryan Launder
Telephone: (860) 685-2348
Email: rlaunder@wesleyan.edu
Honors
Honors and high honors in economics are awarded based on a completed honors thesis representing two semesters of independent research. To be considered for departmental honors, a student may choose one of two options:
- Enroll in the two-semester senior honors thesis tutorial sequence (ECON409 and ECON410). The student begins thesis research with a faculty advisor in the fall and completes the thesis by the spring term.
- Expand a research paper completed in a 300-level elective in the fall of senior year with a suitable faculty advisor and complete the thesis in the spring term (ECON410).
No matter which path a student follows, all honors candidates must submit a prospectus and present their work in progress to the faculty at the end of the fall semester. Theses are evaluated by a committee of readers, including the thesis advisor and two other faculty members.
All candidates for honors should have at least a B+ average in their economics courses before their senior year and a three-year cumulative average of B or better for all courses.
A student who does not meet these requirements may petition the department for an exception; the petition must be signed by the student and by the faculty member who has agreed to supervise the project. The petition should address the student’s capability to undertake independent research and the feasibility of the proposed project.
Capstone Experience
Economics majors will fulfill the department’s capstone requirement by completing three upper-level electives, each of which requires the successful completion of a substantial research paper/project.