Economics Department lobby

Minor and Concentrations

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.

Minor

  • 14.01 Principles of Microeconomics
  • 14.02 Principles of Macroeconomics
  • One of*:
    • 14.30 Introduction to Statistical Method in Economics
    • 18.05 Introduction to Probability and Statistics
    • 1.010 - Uncertainty in Engineering (also called Probability and Causal Inference)
  • One of:
    • 14.03 Micro Theory and Public Policy
    • 14.04 Intermediate Microeconomic Theory
    • 14.05 - Intermediate Applied Macroeconomics
  • Two of:
    • 14.06 Advanced Macroeconomics (Not offered in AY 2022-23)
    • 14.11 Topics in Economics (Not offered in AY 2022-23)
    • 14.12 Economic Applications of Game Theory
    • 14.13 Psychology and Economics
    • 14.15[J] Networks (Not offered in AY 2022-23)
    • 14.16 Strategy and Information
    • 14.18 Mathematical Economic Modeling
    • 14.19 Market Strategy
    • 14.20 Industrial Organization: Competitive Strategy and Public Policy
    • 14.26 Organizational Economics
    • 14.27 Economics and E-commerce (Prerequisite: 14.30 or 6.041) (Not offered in AY  2022-23)
    • 14.41 Public Finance and Public Policy
    • 14.42 Environmental Policy and Economics (Not offered in AY 2022-23)
    • 14.43[J] Economics of Energy, Innovation, and Sustainability
    • 14.44 Energy Economics and Policy
    • 14.54 International Trade
    • 14.64 Labor Economics and Public Policy (Not offered in AY 2022-23)
    • 14.70 Medieval Economic History in Comparative Perspective
    • 14.73 The Challenge of World Poverty
    • 14.74 Foundations of Development Economics (Not offered in AY 2022-23)
    • 14.75 Political Economy and Economic Development
    • 14.76 Firms, Markets, Trade and Growth
    • 14.78[J] Shaping the Future of Technology: from Early Agriculture to AI
    • 15.401/417 Managerial Finance AND 15.402/418 Corporate Finance**

*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.

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See more information and guidance from SHASS


Concentrations

The concentration requirement consists of three subjects:

  • 14.01 Principles of Microeconomics* and/or
  • 14.02 Principles of Macroeconomics
  • One or two of:
    • 14.03 Micro Theory and Public Policy
    • 14.04 Intermediate Microeconomic Theory
    • 14.05 Intermediate Applied Macroeconomics
    • 14.06 Advanced Macroeconomics (Not offered 22-23)
    • 14.11 Topics in Economics (Not offered 22-23)
    • 14.12 Economic Applications of Game Theory
    • 14.13 Psychology and Economics
    • 14.15[J] Networks (Not offered 22-23)
    • 14.16 Strategy and Information (Prereq. 14.03/14.04)
    • 14.18 Mathematical Economic Modeling
    • 14.19 Market Design (Not offered 22-23)
    • 14.20 Industrial Organization: Competitive Strategy and Public Policy
    • 14.26 Organizational Economics
    • 14.27 Economics and E-Commerce (Prereq. 14.30 or 6.041) (Not offered 22-23)
    • 14.41 Public Finance and Public Policy
    • 14.42 Environmental Policy and Economics (Not offered 22-23)
    • 14.43[J] Economics of Energy, Innovation, Sustainability
    • 14.44 Energy Economics and Policy
    • 14.54 International Trade
    • 14.64 Labor Economics and Public Policy (Not offered 22-23)
    • 14.70 Medieval Economic History in Comparative Perspective
    • 14.73 The Challenge of World Poverty
    • 14.74 Foundations of Development Economics (Not offered 22-23)
    • 14.75 Political Economy and Economic Development
    • 14.76 Firms, Markets, Trade and Growth
    • 14.78[J] Shaping the Future of Technology: from Early Agriculture to AI

*Students who received a 5 on the Economics AP exam can 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.

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:

  • 14.01 Principles of Microeconomics*
  • 14.73 The Challenge of World Poverty
  • One of**:
    • 14.74 Foundations of Development Economics
    • 14.75 Political Economy and Economic Development
    • 14.76 Firms, Markets, Trade and Growth

*Students who received a 5 on the Economics AP exam can 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.

The department's minor and concentration advisor for academic year 2022-2023 is Professor Josh Angrist