Want to explore economics as a complement to your primary field of study? Earn a minor by completing six subjects in economics, or a concentration by completing three subjects in economics.
Professor Ricardo Caballero is the department's minor advisor for 2023-2024.
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*The only acceptable substitutes are: 6.041 or 18.600 AND 14.32, 15.075, or 18.650. For example, pairing 6.041 and 15.075 is an acceptable substitute. Any of these courses alone is not a substitute for 14.30 or 18.05 or 1.010. NOTE: 18.600 and 18.650 are the new course numbers for 18.440 and 18.443 respectively.
**Both subjects may be taken to satisfy one elective. Neither subject alone or with another subject will count toward the minor. There will be no exceptions to this rule. Because of the maximum two-subject overlap, course 15 majors cannot use these subjects as an elective (14.01 and 14.02 are requirements for the course 14 minor and the course 15 major).
Please note: For students who began undergraduate studies at MIT prior to fall 2020, the junior/senior pass/fail option may not be used for courses that fulfill a minor program in HASS.
Under no circumstances may a student complete a minor with fewer than six subjects. Any student who receives permission from the Economics Department to skip 14.01 and/or 14.02 must take a higher-level replacement subject for one or both.
No more than two subjects counting toward your economics minor can overlap with the subjects that are required for any other majors or minors. If your other majors/minors require more than two of the subjects that are required for the economics minor, you must take additional subjects so that at least four subjects are counting toward the economics minor only.
Professor Benjamin Olken is the department's concentration advisor for 2023-2024
The concentration requirement consists of three subjects:
*Students who received a 5 on the AP Micro exam may substitute 14.03 for 14.01.
The following subjects are not acceptable: 14.30, 14.32, 14.33, and 14.47
Any student who receives permission from the Economics Department to skip 14.01 and/or 14.02 and take a higher-level subject must take replacement subject(s) for 14.01/14.02.
Students whose primary major is Economics (14-1) or Mathematical Economics (14-2) may not concentrate in economics or development economics; students whose secondary major is Economics (14-1) or Mathematical Economics (14-2) and students whose major is Computer Science, Economics, and Data Science (6-14) may concentrate in economics or development economics.
The concentration in development economics is designed for students with an interest in studying the challenge of massive and persistent world poverty and how the tools of economics can help address it.
The concentration requires three subjects. Students usually take:
*Students who received a 5 on the AP Micro exam may substitute 14.03 for 14.01.
**Other advanced subjects in development economics will be considered as substitutes on request.
Students can also opt for 14.01 and two of 14.74, 14.75, and 14.76.
Students whose primary major is Economics (14-1) or Mathematical Economics (14-2) may not concentrate in economics or development economics; students whose secondary major is Economics (14-1) or Mathematical Economics (14-2), and students whose major is Computer Science, Economics, and Data Science (6-14) may concentrate in economics or development economics.
Subjects used for a concentration in economics or development economics can also be used toward the minor.