Economics

Course 14-1, leading to the Bachelor of Science in Economics, combines training in technical economics with opportunities for a broad and balanced undergraduate education. Students may choose from a diversified group of undergraduate subjects and are encouraged to engage in independent research. The aims of the SB in Economics degree program are threefold: to give students a firm grounding in modern economic theory and a basic understanding of economic processes; to provide a descriptive knowledge of the US and world economies; and to develop in students the capabilities for quantitative analysis and independent thought. These aims correspond roughly to the requirements in the Course 14-1 program of theory, electives, statistics and econometrics, and research. The requirements allow substantial freedom for students in designing individual programs within economics and balancing the programs with subjects in other disciplines. The large amount of unrestricted elective time encourages students to shape programs close to their own needs and interests. Students may select programs that concentrate on economics and other social sciences or may combine economics with other fields. They may emphasize the relation of economics and technology by choosing their free electives in engineering and science, or they may combine their studies in economics with subjects in history and the other humanities. The successful completion of the degree program prepares students for further study in economics or for careers in business administration and finance, consulting, law and related fields, and public policy. Although there are several satisfactory alternative subject sequences, students who by the end of their second year have taken 14.01 Principles of Microeconomics and 14.02 Principles of Macroeconomics can follow a program that permits considerable depth in electives in their third and fourth years . With that preparation, students can complete an intermediate...