Economics
Areas of Study
In addition to core classes in microeconomics, macroeconomics and statistics, students can learn about:
- sports economics
- environmental economics
- economics of the arts
- development economics
- labor economics
- economics of gambling
- international trade
- international finance
- economics of immigration
- health economics
- monetary theory
- political economy
- financial economics
Recommended Course of Study
Students interested in majoring in economics are required to take the following minimum 9 courses within the department, in addition to a year of Calculus (in the math department). The College Catalog is the final authority on college and department policy. The Catalog should always be consulted when planning your curriculum.
- ECON 110 Principles of Economics
- ECON 249 Statistics
- ECON 255 Microeconomics
- ECON 256 Macroeconomics
- ECON 265 Quantitative Microeconomics OR ECON 266 Quantitative Macroeconomics
- Nine ECON courses plus one year of college calculus, or the equivalent
- Four electives in Economics department (at least three of these elective courses must be 300-level electives)
All majors are encouraged to enroll in the MATH 133-134 or the MATH 135-136 sequence in the first year. An acceptable alternative is a minimum score of 4 on all sections of the AP Calculus BC exam. Any principles or statistics courses that are covered through AP credit must be replaced by additional Economics electives.
The recommended course of study for the first year is as follows:
- ECON 110 Principles of Economics
- One year of college calculus
The recommended course of study for the second year is as follows:
- ECON 249 Statistics
- ECON 255 Microeconomics
- ECON 256 Macroeconomics
The recommended course of study for the third year is as follows:
- ECON 265 Quantitative Microeconomics
- ECON 266 Quantitative Macroeconomics
- An ECON elective (200 or 300 level)
The recommended course of study for the fourth year is as follows:
- Three 300 level ECON electives
Additional Requirements
Majors can take up to 14 total courses in the department (including ACCT courses). Majors may take up to two economics courses at other institutions including consortium schools, summer school, and study abroad. Microeconomics (ECON 255), Macroeconomics (ECON 256), and the Quantitative course (ECON 265 or ECON 266) must be taken at Holy Cross.
Students may use advanced placement (AP) credit for Principles of Economics (ECON 110) by earning a score of 4 or 5 on both the macroeconomics and microeconomics exams. Students may use advanced placement (AP) credit for Statistics (ECON 249) by earning a score of 4 or 5 on the statistics exam. Students who use AP credits must still take nine courses in economics and can make up this deficit with additional electives.
If planning on studying abroad or participating in the Washington Program, make sure to plan your course of study carefully. See the study abroad and Washington Program pages for guidance.
Students can declare the major after showing evidence that they have completed or are enrolled in an economics class at the College. First-year students cannot be signed in until their second semester at the College. Students must be signed in by the fall of their third year. All students who wish to major in economics must have completed ECON 110 and Calculus 1 by the end of their second year.
- Core Principles of Economics
- Social Welfare & Public Policy
- Statistical Analysis
- Monetary Theory
- Economics of European Union
- Gender Economics
- Econ Development Modern China
- Financial Markets and Institutions
- Latin American Economic History and Development
- Economics of Climate Change
- Macroeconomics
- Economics and Popular Culture: Insights from Film, TV, Ads, Social Media, Music, and Literature
- International Trade
- Labor Economics
- Econometrics
- Game Theory
- Economics of Gambling
- Economics of the Arts
- Development Economics
Meet Your Department Chair
Opportunities
There are multiple opportunities for economics majors to further their learning and prepare for a career in the field, including research, awards, study abroad, or honors programs.
Study Abroad
Many economics majors participate in study abroad programs, but course selection and timing should be factored into your decision, as only two courses taken away from Holy Cross may count towards your economics major. If you are interested in studying abroad, discuss your interests with your faculty advisor and department chair so that you can develop a plan to complete the major.
Washington Semester Program
The Washington Semester Program is a selective, semester-long program offered in Washington, D.C., through Holy Cross. The program welcomes students from all disciplines, and it allows them to have the opportunity to work with national leaders, engage in independent research, and live in the stimulating environment of Washington, D.C. Participation in the program counts as one semester's worth of credit (four units) toward graduation. However, credit towards economics major requirements is not granted for any of the elements of the Washington Semester Program.
Freeman M. Saltus Prize
The Freeman M. Saltus Prize is awarded each year for the best student essay in economics. Any topic in economics is acceptable, and the paper may be descriptive, empirical, or theoretical. The prize carries with it a substantial cash award.
Omicron Delta Epsilon Honor Society
Omicron Delta Epsilon is the international honor society for economics. Members receive The American Economist, a well-regarded economics journal.
Tutors & Graders
There are also opportunities for students to become tutors or graders to introductory classes. To learn more, contact the department chair.
Department Honors Program
An excellent opportunity for faculty-student collaboration, this program offers participants valuable experience in research, writing, and public speaking.
The program consists of three parts.
- Research Methods Seminar (ECON 460 Research Methods I) - offered in the spring of your junior year, you will learn the tools of economic research, develop a thesis topic and literature review, and choose an advisor. This course is also a lower-level elective for economics majors.
- Thesis (ECON 462 Honors Directed Research) - In the fall of senior year, you will write a thesis under the guidance of your advisor. The thesis counts as course credit and also an upper-level elective course for economics majors.
- Academic Conference (461 Research Methods II) - In the spring of your senior year, you will prepare a presentation to be given at the College’s Academic Conference, and provide guidance to the juniors in the research methods class. This is a half-course overload called ECON. To be granted honors at graduation, students must meet the standards in each course.
To be considered, email the following materials to the department’s administrative assistant.
- An unofficial transcript printed out by you from STAR. Make sure it is fully legible.
- A separate typed list of economics and accounting courses (including current courses) with faculty names.
- A letter of reference from a faculty member in the Department of Economics and Accounting. Ask the professor to send a letter directly to the department office.
- A one or two-page statement or purpose. Why do you want to participate in the Program?
- A short writing sample, e.g., a short paper from a class you've taken.
- A completed application cover page.
After all the applications are submitted, we will send out a follow-up email to schedule an interview. Decisions will be made prior to course enrollment. Applications are competitive, and decisions are made by the Honors Selection Committee following interviews.
Economics honors applicants will normally finish ECON 255 (Microeconomics), ECON 256 (Macroeconomics) and ECON 249 (Statistics) by the fall of junior year, though exceptions are routinely made for candidates with other strong credentials. Applications are competitive, and require a recommendation, transcript, essay, and other materials. Decisions are made by the Honors Selection Committee following interviews. Students studying away from the College in the spring of junior year or anytime during senior year are not eligible for the program. The program usually admits between four and six students per class.
Outcomes
Students enter a wide-range of fields after graduating, including careers in the consulting, finance, banking and insurance industries, as well as law, journalism, teaching, educational administration, politics and government service. Economics majors with strong math backgrounds are encouraged to apply to top graduate programs in economics, business and related fields. In recent years, Holy Cross economics students have entered graduate programs at leading institutions across the country.
The National Association of Business Economists (NABE) is a nonprofit organization for people interested in non-academic careers. They offer a free booklet on careers for business economists, which can be ordered from their site.
