Contemporary economics is intertwined with mathematics. For example:

  • The New Keynesian Model uses differential equations and partial derivatives to model how market equilibrium is achieved even when buyers? demand and desired production levels do not match.
  • Microeconomics models how price changes for one good affect demand for another, using multivariable calculus that students should master prior to the intermediate theory course.
  • Econometrics employs linear algebra to analyze data and estimate the marginal impacts of numerous variables on a particular phenomenon.

Students will demonstrate:

  • understanding of economic theories and institutions in both microeconomics and macroeconomics.
  • the ability to find and interpret economic information and data.
  • the ability to answer economic questions by applying advanced econometric techniques to economic data
  • the ability to analyze complex problems and arguments using formal mathematical economic models
  • the ability to communicate economic arguments in oral and written form following the communications conventions of economics.