Undergraduate Program

 The Department of Economics at William and Mary offers a diverse and flexible undergraduate curriculum to a large and growing number of majors, dozens of minors, and hundreds of students interested in international relations, public policy, and environmental science

In addition, the Department offers several courses that satisfy General Education Requirements (GERs) at William and Mary.  “Principles of Microeconomics” (ECON 101) focuses on how individuals and firms make economic choices and interact in markets.  “Principles of Macroeconomics” (ECON 102) focuses on the aggregate activity of the national economy as a whole and how national economies interact on the international stage.

Once completing these introductory courses, students can choose from many 300-level courses that focus on a particular field of economic study. Some examples include “Money and Banking” (ECON 311), “Environmental and Natural Resource Economics” (ECON 322), “American Economic History” (ECON 341), and “Comparative Economics” (ECON 382).   These courses are designed for students who are interested in learning more about economic analysis, and for those thinking about becoming an Economics major or minor.

Three of the 300-level courses in Economics are required courses in the major:   “Intermediate Microeconomic Theory” (ECON 303), “Intermediate Macroeconomic Theory” (ECON 304) and “Econometrics” (ECON 308).  The two intermediate theory courses cover many of the same topics introduced in the corresponding Principles courses, but at a more advanced level of analysis.  Econometrics focuses on methods that are commonly used in economic research with emphasis on the application of these techniques rather than their theoretical development.

The 400-level courses in economics are designed to give students opportunities to apply the tools learned in the intermediate theory courses to specific areas or topics.  Some examples include “Economics of Information” (ECON 420), “Economic Analysis of Law” (ECON 460), “Industrial Organization” (ECON 461), and “International Trade Theory and Policy” (ECON 475). These courses differ from the 300-level courses in the analytical level of the discussion.