Curricular Advice

Potential economics majors are encouraged to

  • take ECON 100 in the winter term of the first year or in the fall term of the sophomore year. Occasionally, ECON 100 may have spots available also in the fall term of the first year.
  • take a 200-level elective course during the sophomore year.
  • take one of the required 200-level courses -- ECON 202, 203, 210, and 211 -- during the sophomore year.
  • discuss any plans to study abroad with a first-year advisor or a faculty member in the Economics Department. Additional guidelines for study abroad are available on the department website.

Prospective majors should fully immerse themselves in the liberal arts upon enrollment and continue to take courses outside economics during their time at W&L.

Choosing Electives

There are many ways to choose electives. Here are some ideas. You do not need to follow these specific areas. You can instead simply take courses which interest you.

If you are interested in public policy, you may be interested in taking:

  • Urban Economics (ECON 229)
  • Labor Economics (ECON 230)
  • The Economics of Social Issues (ECON 235)
  • Economics of Education (ECON 236)
  • Health Economics (ECON 237)
  • Poverty and Inequality in the U.S. (ECON 238)
  • Public Finance (ECON 250)
  • Environmental and Natural Resource Economics (ECON 255)

Most of the courses above qualify toward additional interdisciplinary programs as well.

If you are interested in international economics, you may be interested in taking:

  • Economics of War and Peace (ECON 241)
  • Caste at the Intersection of Economy, Religion, and Law (ECON 246)
  • International Trade (ECON 270)
  • International Finance (ECON 271)
  • Health Economics in Developing Countries (ECON 276)
  • Development Economics (ECON 280)
  • Comparative Institutional Economics (ECON 281)

If you are interested in environmental studies, you may be interested in taking:

  • Environmental and Natural Resource Economics (ECON 255)
  • Economics of the Chesapeake Bay (ECON 257)
  • The Environment and Economic Development in Amazonas (ECON 259)
  • Lakota Land, Culture, Economics, and History (ECON 286)

All of the above courses go toward the Environmental Studies minor.

If you are interested in banking, finance, and financial markets, you may be interested in taking:

  • Money and Banking (ECON 215)
  • International Finance (ECON 271)
  • Macroeconomic Forecasting (when offered as ECON 395)
  • Introduction to Accounting (ACCT 100)
  • Financial Statement Analysis (ACCT 311)

Graduate School Advice

If you are considering graduate study in economics, additional math and computer science courses are strongly recommended. Multivariable calculus and linear algebra are essential, although a minor or major in math is useful, too. Game Theory (ECON 302) and Mathematical Economics (ECON 320) are also recommended. Consider working as a Summer Research Scholar after your sophomore or junior year, and applying for research internships off campus after your junior year.

If you are considering graduate study in law, additional coursework might include some of the following economics electives: Money and Banking (ECON 215), Labor Economics (ECON 230), Public Finance (ECON 250), Comparative Institutional Economics (ECON 281), and Advanced U.S. Economic History (ECON 344). It is also useful to take additional English and politics coursework.

If you are considering graduate study for an M.B.A. after working for several years, additional coursework might include some of the following economics electives: Money and Banking (ECON 215), International Trade (ECON 270), International Finance (ECON 271), and Game Theory (ECON 302). It is also useful to take additional business administration and accounting coursework.

Economics majors have many options for graduate school fellowships (scholarships). There are also scholarships for undergraduate students in the first year, sophomore year, and junior year. Please visit the university's fellowship web site for more information.

Potential Schedules

Below are a few examples of ways to schedule an Economics major. There are many options.

BEFORE Declaring an Economics Major  

Option 1: Econ 100 in sophomore year

Year Fall term Winter term Spring term
First year   General education FDRs
Math 101
Politics		 General education FDRs
  		 General education
Sophomore Econ 100
ECON 202 (Statistics)
General education FDRs
Politics/ Math/ CSCI

ECON 202 or Econ 203
Econ 210 or 211
General education FDRs

 General education

  Option 2: Econ 100 in first year

Year Fall term Winter term Spring term
First year   General education FDRs
Math 101
Politics		 General education FDRs
Econ 100		 General education
Sophomore

Econ 210 or 211
ECON 202 (Statistics) General education FDRs
Politics/ Math/ CSCI

 ECON 202 or Econ 203
Econ 210 or 211
General education FDRs		 General education

   

AFTER Declaring an Economics Major

Typical schedule based on EITHER option above

Year Fall term Winter term Spring term
Junior Econ 210 or 211
Econ 203 or Econ elective 1
2 open choices		 Econ 210 or 211
if needed Econ elective 2
2 open choices		 Econ elective 3 OR open choice
Senior Econ elective 3 and 4, or 4 and 5
2 open choices		 Econ elective 5 and 6
2 open choices		 Open choice

  Study-abroad schedule*

Year Fall term Winter term Spring term
Junior

Study abroad: If you wish to take economics classes abroad, choose 200-level Econ electives. See the Economics Study Abroad page for more information

(If winter term study-abroad, switch fall and winter schedule)

 Econ 203 or 211
if needed Econ elective 1 and 2
1 open choice		 Econ elective 3 OR open choice
Senior Econ elective 3 and 4, or 4 and 5
2 open choices		 Econ elective 5 and 6
2 open choices		 Open choice

 *To study abroad for a full year, take Econ 203 plus one of 210 or 211 by end of sophomore year.