Graduate admissions depends heavily on grades in economics and economics related (e.g., math) courses. The general advice is: take as many courses in econ and math as you can and do well in them. Admissions committees in top departments expect A grades in standard courses (e.g., Econ 401, Math 309); they tend to be more forgiving about grades in courses that are difficult (e.g., Math 4111).

On economics courses, graduate admissions committees look closely at advanced economics courses (generally speaking, 400 level and above). You should take more of these than the major requires. You should, in particular, take econometrics (Econ 413). For guidance on other courses, use the list of Economics Concentrations and talk to your advisor.

Graduate admissions committees in top programs are particularly interested in seeing grades in first-year graduate courses such as Econ 501 or 503. To prepare for such courses, whether here or in graduate school, students should take Econ 4111. We recommend that students take Econ 4111 in the spring semester of their junior year and then take one or more first-year graduate courses in the fall semester of their senior year, since fall semester grades will be available to admissions committees that year.

On mathematics courses, a minimum (typically not adequate to gain admission to a top department) is a third semester of calculus (Math 233) and a course in matrix algebra (Math 309). You will be much better prepared for your first year graduate classes if you take Math 318, which is a more advanced version of Math 233. Mathematics allows strong students to take Math 318 in place of Math 233 provided the student has already taken Math 309; students should consult with their Economics advisor and with the Mathematics department. Some admissions committees also want to see differential equations (Math 209).

All students should take Math 493 (Probability) and Math 494 (Mathematical Statistics). Students interested in empirical research should also consider Math 475 (Statistical Computation). A few top graduate programs have very demanding first year prob/stat sequences and for these programs Math 493 and 494 may prove inadequate; we therefore recommend that very strong students consider taking the ESE 520, 521 sequence.

All students interested in economic or econometric theory should take Math 310, 4111, and 4121, preferably prior to their senior year. Other very strong students should consider taking this sequence as well.

Students planning to apply to a Ph.D. program in finance should take Math 493, 494, and 495. Students planning to go to a top finance program should consider ESE 520, 521, 522 in place of Math 493, 494, and 495.

NOTE TO MATH MAJORS: The math major is divided into four “plans.” Of these, the two that are relevant for economics are A, Traditional, and B, Probability and Statistics.