Economics
Department Overview
Students majoring in economics learn analytical skills and methods of the field, including deductive reasoning, decision-making techniques, quantitative analysis, and modeling principles, and apply these skills in analysis of the ways in which economic forces affect national and international policies and issues. In keeping with the liberal arts tradition and goals of the College, the economics major supports the students’ growth in critical thinking, problem solving, global understanding and appreciation, and communication skills. In core courses, students learn analytical and quantitative skills. In upper-level courses, students apply these analytical, quantitative, and writing skills, focus on a variety of domestic and international policy-oriented issues, and engage in independent research. The economics major at Skidmore is classified as STEM.
Omicron Delta Epsilon, Alpha Zeta Chapter
Omicron Delta Epsilon is an economics honor society that was initially formed in 1915 and became an international honor society in 1969. Omicron honors academic achievement in economics and encourages devotion and advancement in the field. The eligibility requirements include:
- a strong interest in economics;
- completion of at least four economics courses and a 3.60 or higher average in economics; and
- a GPA of 3.60 or higher in all college courses taken.
Credit for Advanced Placement
Students receiving a score of 5 on the Advanced Placement (AP) microeconomics exam will receive credit for having taken EC 104 Introduction to Microeconomics. Students receiving a score of 5 on the AP macroeconomics exam will receive credit for having taken EC 103 Introduction to Macroeconomics. Students who receive scores of 4 on either AP exam can elect to take a qualifying exam(s) as a petition to grant credit for EC 103 Introduction to Macroeconomics and/or EC 104 Introduction to Microeconomics. The department strongly recommends that students take at least one introductory course at Skidmore. Students may consider taking an honors section, if offered.
Students receiving a score of 6 or higher on the Higher Level International Baccalaureate (IB) exam in economics can choose to earn credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics. Students who earned a 5 on the IB economics exam can elect to take a qualifying exam as a petition to grant credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics.
Students receiving a score of A or higher on the Advanced Level (A-level) exam in economics can choose to earn credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics. Students who earned a B on the A-level economics exam can elect to take a qualifying exam as a petition to grant credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics.
The qualifying exams are offered before the start of classes in each semester by the department chair. (Note: AP, IB, and A-level courses in economics do not satisfy general education requirements.)
Chair of the Department of Economics: Peter von Allmen
Professors: Joerg Bibow, Peter von Allmen
Associate Professors: Monica Das, Smriti Tiwari; Director of Quantitative Reasoning, Marketa Wolfe
Assistant Professors: Liudmila Malyshava, Patrick Reilly, Rodrigo Schneider, Sakshi Upadhyay
Visiting Assistant Professor: Joe Ballard, Sanchit Shailesh Shrivastava
Emeritus Professors: Robert Jones, Mehmet Odekon, Roy J. Rotheim
Economics B.A.
Effective for Students Who Entered Skidmore in Fall 2019
Code | Title | Hours |
---|---|---|
Required Courses | ||
EC 103 | Introduction to Macroeconomics | 4 |
EC 104 | Introduction to Microeconomics | 4 |
EC 235 | Macroeconomic Theory | 4 |
EC 236 | Microeconomic Theory | 4 |
EC 237 | Statistical Methods | 4 |
EC 375 | Senior Seminar in Economics | 4 |
Select four additional elective economics courses, at least three of which must be at the 300-level while one may be a 200-level elective 1 | 12-16 | |
MA 111 | Calculus I | 4 |
or MA 109 | Calculus with Algebra II | |
Total Hours | 40-44 |
- 1
All electives must be 3- or 4-credit courses. EC 399 Internship in Economics may not count as one of the electives.
Students may not count economics classes taken S/U above the 100 level towards the major.
Current Skidmore students studying abroad or at other institutions in the U.S. may transfer a maximum of one economics course per term of study and no more than two courses in total. At a minimum, for majoring in economics, students must have taken at least six economics courses at Skidmore, including two of the required 200-level courses (EC 235 Macroeconomic Theory, EC 236 Microeconomic Theory, EC 237 Statistical Methods, two electives, and EC 375 Senior Seminar in Economics).
Transfer students should work with the registrar’s office regarding potential credit for economics courses taken prior to matriculating at Skidmore.
Note: Calculus II and III, as well as Linear Algebra (offered by the Department of Mathematics), are strongly recommended for students planning to go to graduate school in economics or business.
Note: Only economics courses will appear in the major GPA.
Effective for Students Who Entered Skidmore in Fall 2020 and Beyond
Code | Title | Hours |
---|---|---|
Required Courses | ||
EC 103 | Introduction to Macroeconomics | 4 |
EC 104 | Introduction to Microeconomics | 4 |
EC 235 | Macroeconomic Theory | 4 |
EC 236 | Microeconomic Theory | 4 |
EC 237 | Statistical Methods | 4 |
EC 339 | Applied Econometrics | 3 |
EC 374 | Pre-Capstone Seminar in Economics | 1 |
EC 375 | Senior Seminar in Economics | 4 |
Select three additional elective economics courses, at least two of which must be at the 300-level while one may be a 200-level elective 1 | 9-12 | |
MA 111 | Calculus I | 4 |
or MA 109 | Calculus with Algebra II | |
Total Hours | 41-44 |
- 1
All electives must be 3- or 4-credit courses. EC 399 Internship in Economics may not count as one of the electives.
Students may not count economics classes taken S/U above the 100 level towards the major.
Current Skidmore students studying abroad or at other institutions in the U.S. may transfer a maximum of one economics course per term of study and no more than two courses in total. At a minimum, for majoring in economics, students must have taken at least six economics courses at Skidmore, including two of the required 200-level courses (EC 235 Macroeconomic Theory, EC 236 Microeconomic Theory, EC 237 Statistical Methods, two electives, EC 374 Pre-Capstone Seminar in Economics and EC 375 Senior Seminar in Economics).
Transfer students should work with the registrar’s office regarding potential credit for economics courses taken prior to matriculating at Skidmore.
Note: Calculus II and III, as well as Linear Algebra (offered by the Department of Mathematics), are strongly recommended for students planning to go to graduate school in economics or business.
Note: Only economics courses will appear in the major GPA.
Credit for Advanced Placement
Students receiving a score of 5 on the Advanced Placement (AP) microeconomics exam will receive credit for having takenEC 104 Introduction to Microeconomics. Students receiving a score of 5 on the AP macroeconomics exam will receive credit for having taken EC 103 Introduction to Macroeconomics. Students who receive scores of 4 on either AP exam can elect to take a qualifying exam(s) as a petition to grant credit for EC 103 Introduction to Macroeconomics and/or EC 104 Introduction to Microeconomics. The department strongly recommends that students take at least one introductory course at Skidmore. Students may consider taking an honors section, if offered.
Students receiving a score of 6 or higher on the International Baccalaureate (IB) exam in economics can choose to earn credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics. Students who earned a 5 on the IB economics exam can elect to take a qualifying exam as a petition to grant credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics.
Students receiving a score of A or higher on the Advanced Level (A-level) exam in economics can choose to earn credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics. Students who earned a B on the A-level economics exam can elect to take a qualifying exam as a petition to grant credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics.
The qualifying exams are offered before the start of classes in each semester by the department chair. (Note: AP, IB, and A-level courses in economics do not satisfy general education requirements.)
Writing Requirement in the Major
The Economics Department has a strong commitment to helping its students become proficient writers who are able to communicate their analyses in a manner generally accepted in the economics profession. Students will fulfill the writing in the major requirement upon satisfactory completion of EC 375 Senior Seminar in Economics, in which they typically write a major paper of 7,500 to 10,000 words. The effective written communication of complex economic issues requires a thorough reading of the relevant literature, synthesizing those readings into a coherent form, and developing one’s own thesis question which is then analyzed in a manner appropriate to the thesis question. Writing in Economics builds on the skills developed in papers written in other 200- and 300-level economics courses.
Economics Minor
Effective for Those Who Entered Fall 2017
Code | Title | Hours |
---|---|---|
Required Courses | ||
EC 103 | Introduction to Macroeconomics | 4 |
EC 104 | Introduction to Microeconomics | 4 |
EC 235 | Macroeconomic Theory | 4 |
EC 236 | Microeconomic Theory | 4 |
MA 111 | Calculus I | 4-6 |
or MA 108 & MA 109 | Calculus with Algebra I and Calculus with Algebra II | |
Select at least two additional economics courses, at least one of which must be at the 300-level 1 | 6-8 | |
Total Hours | 26-30 |
- 1
EC 399A-D may not count as one of the electives. Students may count a maximum of one 200-level elective course toward the minor, including courses transferred from study abroad or other institutions. All electives must be 3- or 4-credit courses.
Effective for Those Who Entered Fall 2019 and Beyond
Code | Title | Hours |
---|---|---|
Required Courses | ||
EC 103 | Introduction to Macroeconomics | 4 |
EC 104 | Introduction to Microeconomics | 4 |
EC 235 | Macroeconomic Theory | 4 |
EC 236 | Microeconomic Theory | 4 |
Select two additional economics courses, at least one of which must be at the 300 level while one may be at 200-level elective 1 | 6-8 | |
MA 111 | Calculus I | 4 |
or MA 109 | Calculus with Algebra II | |
Total Hours | 26-28 |
- 1
All electives must be 3- or 4-credit courses.
Students may not count economics classes taken S/U above the 100 level toward the minor. EC 237 Statistical Methods (or equivalent) and EC 399A-D do not count toward the minor. Current students studying abroad or at other institutions in the U.S. may transfer a maximum of one economics course per term of study and no more than two courses in total. At a minimum, for minoring in economics, students must have taken at least four economics courses at Skidmore.
Transfer students should work with the registrar’s office regarding potential credit for economics courses taken prior to matriculating at Skidmore.
Credit for Advanced Placement
Students receiving a score of 5 on the Advanced Placement (AP) microeconomics exam will receive credit for having taken EC 104 Introduction to Microeconomics. Students receiving a score of 5 on the AP macroeconomics exam will receive credit for having taken EC 103 Introduction to Macroeconomics. Students who receive scores of 4 on either AP exam can elect to take a qualifying exam(s) as a petition to grant credit for EC 103 Introduction to Macroeconomics and/or EC 104 Introduction to Microeconomics. The department strongly recommends that students take at least one introductory course at Skidmore. Students may consider taking an honors section, if offered.
Students receiving a score of 6 or higher on the International Baccalaureate (IB) exam in economics can choose to earn credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics. Students who earned a 5 on the IB economics exam can elect to take a qualifying exam as a petition to grant credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics.
Students receiving a score of A or higher on the Advanced Level (A-level) exam in economics can choose to earn credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics. Students who earned a B on the A-level economics exam can elect to take a qualifying exam as a petition to grant credit for either EC 103 Introduction to Macroeconomics or EC 104 Introduction to Microeconomics.
The qualifying exams are offered before the start of classes in each semester by the department chair. (Note: AP, IB, and A-level courses in economics do not satisfy general education requirements.)
Honors
Effective for Students Who Entered Skidmore Prior to Fall 2016
To be considered for honors in economics, students must meet the all-College requirement of a GPA of 3.00 overall and 3.50 in the major. In addition, they must receive a grade of at least A- on the Senior Seminar thesis paper.
Effective for Students Who Entered Skidmore in Fall 2016 and Beyond
To be considered for honors in economics, students must meet the all-College requirement of a GPA of 3.00 overall and 3.65 in the major. In addition, they must receive a grade of at least A- in the Senior Seminar course.