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Economics Hidden

Section 1

Prospective Students

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Are you interested in attending the University of Illinois at Urbana-Champaign in the Department of Economics? We offer an excellent program which is growing in popularity every semester. Currently, we have over 900 students in our major, and we are continuing to grow.

We encourage you to visit the different pages on our website (including the main undergraduate studies page) to find out more about our program, view the different events we offer students, see the resources provided, and the opportunities we offer.

We are always happy to meet with prospective students! Please schedule your visit through Admissions and let them know you would like to schedule a Department visit. You may also email econug@illinois.edu if you have specific questions we can answer.

Admissions into the Department of Economics (New and Transfer Students)

All admissions are handled through the University Admission's Office and the LAS College Office. The Department does not review applications or may any decisions on admitting students. If you have questions about the transfer process and applying to the program, please refer to the two websites below. Any questions about the curriculum or Department once you transfer may be directed to our office (econug@illinois.edu or 217-333-2682).

Transfer Students must meet the admissions criteria and submit all application requirements to the University. Students wishing to major in economics typically must have taken the Introductory Micro and Macro courses (ECON 102 & 103) and Calculus 1 (MATH 220 or 221). Business Calculus (MATH 234) is not accepted as Calculus 1.

The Economics @ ILLINOIS Experience

Here in the Department of Economics at the University of Illinois at Urbana-Champaign we create an experience for our students! We want to ensure that you are working towards your degree, but also getting involved and building the skills you need for your future. We offer many activities and opportunities to build upon your foundation of academic training, creating well-rounded students who are prepared for post-college life. Special events, networking opportunities, workshops, student organizations, and other activities promote students’ personal growth. View our Brochure

The placement of Economics within the School of Liberal Arts and Sciences means that our majors receive a comprehensive broad education that prepares them for a wide variety of post-college paths. We are around 1,300 majors strong, and our student population is global. Our alumnae and alumni are found at for-profit and non-profit firms, at all levels of government in the U.S. and around the world, and in graduate programs, Universities, and other research and educational institutions.

What types of opportunities do Economics students have?

Here are just a few of the programs for students:
Econ Ambassadors
Econ Career Services
Networking Events, Career/Internship Preparation, Alumni Panels (view all upcoming events)
Econ Club
Independent Research Projects & Econ Research Symposium
Mentoring Program
Econ Tutoring Center
Student Awards and Scholarships
Illinois in Washington Internship Program
Honors Programs (Distinction, Omicron Delta Epsilon, James Scholars, Campus Honors)

Study Abroad Programs with Faculty or with Internships

In addition, the Economics Undergraduate Studies Office and the University provide a host of opportunities for personal, scholarly, and career development through workshops, conferences, study abroad, internships, career fairs, and other events that strengthen the on-campus experience. There are many student organizations and clubs of interest to Economics majors. Events to bring undergraduate and graduate students, faculty, staff, and alumni together are held throughout the year, offering excellent learning and networking opportunities. The Undergraduate Studies Office in the Department of Economics works closely with The Career Center, Study Abroad, Office of Inclusion and Intercultural Relations, International Student and Scholar Services, Office of Volunteer Programs, The Leadership Center, and many other departments and offices throughout campus to provide timely information and resources to our students.

What is Economics?

Economics is concerned with the creation, consumption, and transfer of wealth. The study of economics encompasses the major areas of microeconomics, which studies of how people and firms produce and consume goods and services, and macroeconomics, which studies mass economic progress and inter-country trade. Economic methods can be used to study all kinds of issues, from land and other natural resource use, to how much people should work, to how to develop human capital through education. Economics can provide insights in areas as diverse as how workers should be rewarded, how government should conduct fiscal and monetary policy, and how health care markets work.

The basic theoretical and statistical tools of economics are applied to virtually every field of human endeavor. Major fields of study within economics include Behavioral Economics, Development, Econometrics, Economic History, Financial Economics, Industrial Organization, International Economics, Labor Economics, Macroeconomics, Mathematical Economics, Political Economics, Public Economics, Economic Theory, and Urban Economics.

About Economics Courses

Students choose from many courses to build their major. Beyond the introductory and intermediate courses in Microeconomics, Macroeconomics, and Statistics and Econometrics, topics courses offer specialized studies in a wide range of fields.

Microeconomics is concerned with understanding how individual persons and firms make choices. From a basic grounding in microeconomic theory, one can describe and predict the responses of consumers and firms to economic conditions and extrapolate from these individual choices to understand aggregate supply, demand, and price determination.

Macroeconomics takes a higher-level perspective on the economy, focusing on national production, national income, and the overall level of employment of productive resources such as labor and capital. Benefits of this perspective are better understanding of country growth, monetary policy, and international trade.

Economics has developed specific techniques for analyzing economic relationships using real-world data. Econometrics, grounded in classical statistics, provides tools for estimating all aspects of economic phenomena, including labor supply, supply and demand, and business cycles. Econometrics is used to test hypotheses about the world that are developed from economic theory. Econometric estimates can be used to forecast future conditions, aiding individuals, businesses, and governments in making decisions.

The department offers varied topics courses each semester. Recent examples:
Applied Econometrics
Development Economics
Economic Analysis of Env. Policy
Economics of the Household
Economics of Innovation and Tech.
Economics of Labor Markets
Environmental Economics
Game Theory
Gov’t Regulation of Economic Activity
Health Economics
Industrial Competition and Monopoly
International Economics
The Latin American Economies
Law and Economics
Mathematical Economics
Public Sector Economics
Topics in Economic Growth
Topics in International Finance
Urban Economics
Women in the Economy

Double Majors, Dual Degrees, and Minors

Virtually any major or minor compliments the economics degree. Popular choices for double majors (within LAS) include Math, Statistics, Actuarial Science, Political Science, Sociology, Communications, Psychology, History, and Global Studies. Dual Degrees consist of majors in different colleges, such as Business and Engineering, and require additional hours. Minors are a great way to add a concentration in an interest area and offered in many areas.

Careers

Because students gain a variety of analytical skills through the Economics major, career opportunities are broad. Sectors where our graduates work include for-profit and non-profit business organizations, all levels of government, and education. Examples of some of the industries our graduates have gone on to include banking and finance, marketing, insurance, and consulting. Visit the Econ Career Center Page for Information

Graduate Programs

Our majors have entered graduate programs in everything from law to medicine. Historically, the most popular programs are in Business, Accounting, Finance, Public Policy, and Law. Some pursue a Master’s or Ph.D. degree in Economics. The student may wish to gain post-college work experience first, depending on the program. The economics major prepares students to do well in a wide variety of graduate programs in which analytical thinking is stressed. Find information about Graduate School (scroll to the bottom under 'Resources').

Honors and Distinction

Eligible students have the opportunity to be a part of many honors programs, including James Scholars, Campus Honors, and the Economics honor society Omicron Delta Epsilon. Students receiving high major and overall GPAs and who have completed an independent study (ECON 399) under the supervision of a recommending faculty member may graduate with Economics Departmental Distinction. The Department, College and University have several scholarships that are awarded for undergraduate students.

Events

Throughout each semester we have many events such as tailgates, social events, networking events, panels, seminars, and many more. If you have an idea for an event you believe would be great for the department to host, pleaselet us know by sending an email (econug@illinois.edu)! We look forward to planning new events to bring our students together and experience things on- and off-campus. View Our Upcoming Events