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ECONOMICS 179
human resources, health, natural resource use and the environment
and trade and development.
The major is an excellent choice for those interested in public
policy and market research and students wanting careers
in business, government and other organizations. An economics
major is also highly desirable for students wanting
to go on to study law, business, public administration and
international affairs.
Major Study Requirements
A major in economics requires a common core consisting of
ECON 105 (Introductory Macroeconomics), 106 (Introductory
Microeconomics), 300 (Intermediate Microeconomics I), 303
(Intermediate Macroeconomics I) and 309 (Introductory
Statistics and Econometrics) plus 18 credit hours of electives
in economics with a maximum of 3 credit hours from 200-level
courses, for a total of 33 hours.
All economics majors are encouraged to complete one
semester of calculus (MATH 162 or 180). Majors planning
to attend graduate school should consult with the economics
undergraduate advisor concerning additional requirements.
Students are encouraged to discuss the selection of electives
with the economics undergraduate advisor. Most students
select courses based on their career plans or interests.
Please note that the following listings are not intended to limit
the student’s choice.
Business economics for students planning to pursue a career
in the business sector: suggested electives include ECON
315, 320, 332, 333, 350, 408, 424 and 429.
Government economics for students planning to pursue a
career with a local, state or federal government agency: suggested
electives include ECON 315, 320, 332, 333, 335, 341,
342, 343, 350, 408, 409, 424, 429 and 445.
Pregraduate study preparation for students interested in
pursuing a graduate degree in economics, business, public
administration or other fields: suggested electives include
ECON 315, 320, 342, 350, 400, 403, 407, 409, 424, 429
and 442. A two-semester calculus sequence and a semester
of introductory statistics are essential for students planning
graduate work in economics.
Pre-law preparation for students interested in attending law
school: suggested electives include ECON 320, 330, 332,
333, 335, 342, 350 and 445.
Electives for students who wish to focus their study on specific
fields and current economic issues: suggested electives
include courses in International and Latin American economies
(ECON 321, 421, 423, 424 and 429), natural resources
and environmental economics (ECON 342, 343 and 442),
labor and human resources (ECON 320, 335, 410 and 427),
public finance (ECON 350, 445 and 450) and economic
modeling, forecasting and policy analysis (ECON 407, 408,
409 and 445).
Minor for Economics Majors
An interdisciplinary approach is useful in the study of
economics. Economics majors are encouraged to seek a
minor in disciplines such as Political Science, Sociology,
History, Business, Math or Computer Science. Students
should discuss the selection of a minor with the economics
undergraduate advisor. Students with specialized interests
may design a distributed minor and petition the Department
Chairperson for approval.
Minor Study Requirements
Economics makes an excellent minor for students pursuing
majors such as Management, Political Science, Journalism
and Biology and for those building a pre-professional bachelor’s
degree such as pre-law, pre-M.B.A. or pre-M.P.A.
For example, a student with a political science major may
consider, in addition to the core economics courses, electives
in international economics, public finance or human resource
economics. A student with a business major may consider
economics electives in public finance and international
economics. Students planning for a law degree might consider
an economics minor with emphasis on environmental
and natural resource economics.
A minor in economics requires a total of 18 credit hours consisting
of 9 hours in required courses (ECON 105, 106 and
either 300 or 303) plus 9 hours from elective courses with a
maximum of 3 hours at the 200-level.
Departmental Honors
The departmental honors program is open to outstanding
economics majors, typically in their junior year. After consulting
with a faculty member willing to supervise their research,
students must enroll in the department’s honors courses,
Reading for Honors (ECON 497 and/or 498) and Senior
Honors Thesis (ECON 499). These courses are in addition
to those required for the major. University requirements for
graduating with departmental honors include an overall grade
point average of 3.20 and at least 7 credit hours in departmental
honors courses. Interested students should contact
the economics undergraduate advisor for further information.
Graduate Program
Application Deadlines for Admission
Spring Semester: August 1 (only under extreme
circumstances)
Fall Semester: International Studies - March 1
Domestic with aid - March 1
Domestic without aid - July 12
Application Deadlines for Financial Aid
Financial aid decisions are made earlier than the application
deadlines, so timely receipt of application materials is advisable
if you are interested in financial aid.
Degrees Offered
The Department of Economics offers the M.A. degree in
economics, with concentrations in environmental/natural
resource economics, public finance, labor/human resources
economics, international/development economics, econometrics
or economic theory. The master’s degree is awarded
under Plan I or Plan II.
The Department of Economics offers the Ph.D. degree with
concentrationss in environmental/natural resource economics,
public finance, labor/human resources economics and
international/development economics. The Ph.D. degree is
awarded to students who have met the general requirements
specified elsewhere in this catalog and have demonstrated
competency in economic theory (micro and macro), econometrics
and their concentration (9 hours). See the Economics
Graduate Student Handbook for specific requirements.
Applicants to the Department of Economics M.A. and Ph.D.
Programs:
Recommended undergraduate course work consists of 12
upper-division economic hours including one semester of
intermediate micro theory and macro theory. Students are
required to have completed one semester of calculus (preferably
the equivalent of UNM’s MATH 162 or MATH 180). If
you are considering a Ph.D., a course in Linear Algebra or
Matrices is also strongly recommended. (e.g. UNM’s MATH
314 or MATH 321).
All applicants must submit their current (within the last three
yeas) GRE-General Test Scores (Verbal, quantitative, and
ARTS AND
SCIENCES
UNM CATALOG 2006–2007 Symbols, page 611.