Our undergraduate training provides students with a firm grounding in modern economic theory, skills in quantitative research, and basic knowledge about the US and world economy. Graduates with an economics major are prepared for employment in industry and government, or further academic study in economics, law, business, and a variety of other fields. MIT Economics offers three majors (also called courses) that are tailored to students' interests and career goals.
Majors
Course 14-1 majors earn a Bachelor of Science in Economics. In addition to MIT's General Institute Requirements, students majoring in 14-1 must complete:
- 14.01 Principles of Microeconomics (Students with a score of 5 on the AP Micro exam may substitute 14.03: Micro Theory and Public Policy)
- 14.02 Principles of Macroeconomics
- One of:
- 14.04 Intermediate Microeconomic Theory
- 14.12 Economic Applications of Game Theory
- 14.15[J] Networks
- 14.16 Strategy and Information
- 14.19 Market Design
- 14.26 Organizational Economics
- 14.05 Intermediate Applied Macroeconomics (CI-M)* OR
- 14.06 Advanced Macroeconomics AND 14.18 Mathematical Economic Modeling (CI-M) OR 14.33 Economics Research & Communication OR 14.35 Why Markets Fail (CI-M)*
- 14.30 Introduction to Statistical Methods in Economics OR 18.650[J] Fundamentals of Statistics OR 15.069 Applied Probability and Statistics
- 14.32 Econometric Data Science
- 14.33 Economics Research & Communication (CI-M) OR 14.18 Mathematical Economic Modeling (CI-M) OR 14.35 Why Markets Fail (CI-M)*
- Thesis (14.18 or 14.33 or 14.35 is a prerequisite)**
- 48 units of economics electives (or four full subjects)
*Students must take two of the four Communication Intensive (CI-M) courses: 14.05, 14.18, 14.33, and 14.35.
**Thesis may be replaced by an elective subject in economics.
Students must earn grades of C or better in required subjects in order to fulfill departmental requirements.
The requirement for 48 units (or four full subjects) of electives can be satisfied from these economics classes:
- 14.03 Microeconomic Theory & Public Policy
- 14.06 Advanced Macroeconomics
- 14.11 Topics in Economics
- 14.12 Economic Applications of Game Theory
- 14.13 Psychology and Economics
- 14.15[J] Networks
- 14.16 Strategy and Information
- 14.18 Mathematical Economic Modeling
- 14.19 Market Design
- 14.20 Industrial Organization: Competitive Strategy and Public Policy
- 14.26 Organizational Economics
- 14.27 Economics of Digitization
- 14.36 Advanced Econometrics
- 14.38 Inference on Causal and Structural Parameters Using ML and AI
- 14.39 Large-Scale Decision-Making and Inference
- 14.41 Public Economics
- 14.42 Environmental Policy and Economics
- 14.43J Economics of Energy, Innovation, and Sustainability
- 14.44 Energy Economics
- 14.45 Climate & Energy in the Global Economy
- 14.54 International Trade
- 14.64 Labor Economics and Public Policy
- 14.70[J] The Development of Medieval Economies
- 14.73 The Challenge of World Poverty
- 14.74 Foundations of Development Economics
- 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
- 21H.290 Classics of Economics: Economic History and the History of Economics
Majors also have the option to take up to two of the following Sloan classes:
- 15.021[J] Real Estate Economics
- 15.401 Managerial Finance
- 15.402 Corporate Finance
- 15.433 Financial Markets
- 15.437 Options and Futures Markets
Note that up to three elective economics subjects may be used to partially satisfy the HASS requirement, 14.30 may be counted toward the REST requirement, and 14.32 may be used to satisfy the laboratory requirement.
Students majoring in 14-2 earn a Bachelor of Science in Mathematical Economics. In addition to the General Institute Requirements, Course 14-2 majors must complete:
- 14.01 Principles of Microeconomics (Students with a score of 5 on the AP Micro exam may substitute 14.03 Micro Theory and Public Policy.)
- 14.02 Principles of Macroeconomics
- 14.30 Introduction to Statistical Methods in Economics OR 18.650[J] Fundamentals of Statistics OR 15.069 Applied Probability and Statistics
- 14.32 Econometric Data Science
- 18.100 Real Analysis (Note that 18.100P and 18.100Q satisfy the math CI-M requirement)
- One economics CI-M course:
- 14.33 Economic Research & Communication
- 14.05 Intermediate Macroeconomics (Students who take 14.05 must take a CI-M in Mathematics that offers instruction in both oral and written communication (18.104, 18.204, 18.384, 18.424, 18.434, 18.504, 18.704, 18.784, 18.821, 18.904, or 18.994)
- 14.18 Mathematical Economic Modeling
- 14.35 Why Markets Fail
- One mathematics CI-M course:
- 18.100P/Q Real Analysis
- 18.104 Seminar in Analysis
- 18.504 Seminar in Logic
- 18.784 Seminar in Number Theory
- An approved alternative
- One of:
- 14.04 Intermediate Microeconomic Theory
- 14.12 Economic Applications of Game Theory
- 14.15[J] Networks
- 14.19 Market Design
- One of:
- 18.06 (or 18.061) Linear Algebra
- 18.03 Differential Equations
- 36 units of electives (or three full subjects - at least one in mathematics and one in economics)
Students must earn grades of C or better in required subjects in order to fulfill departmental requirements.
Students majoring in 14-2 cannot have a dual major in economics or mathematics (including major 18-C). They cannot use economics for their HASS concentration unless 14-2 is a secondary major.
Note that up to three elective economics subjects may be used to partially satisfy the HASS requirement; 14.30 may be counted toward the REST requirement; and 14.32 may be used to satisfy the laboratory requirement.
The requirement for 36 units (or three full subjects) of electives can be satisfied from these economics classes:
- 14.03 Microeconomic Theory & Public Policy
- 14.06 Advanced Macroeconomics
- 14.11 Topics in Economics
- 14.12 Economic Applications of Game Theory
- 14.13 Psychology and Economics
- 14.15[J] Networks
- 14.16 Strategy and Information
- 14.18 Mathematical Economic Modeling
- 14.19 Market Design
- 14.20 Industrial Organization: Competitive Strategy and Public Policy
- 14.26 Organizational Economics
- 14.27 Economics of Digitization
- 14.36 Advanced Econometrics
- 14.38 Inference on Causal and Structural Parameters Using ML and AI
- 14.39 Large-Scale Decision-Making and Inference
- 14.41 Public Economics
- 14.42 Environmental Policy and Economics
- 14.43J Economics of Energy, Innovation, and Sustainability
- 14.44 Energy Economics
- 14.45 Climate & Energy in the Global Economy
- 14.54 International Trade
- 14.64 Labor Economics and Public Policy
- 14.70[J] The Development of Medieval Economies
- 14.73 The Challenge of World Poverty
- 14.74 Foundations of Development Economics
- 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
- 21H.290 Classics of Economics: Economic History and the History of Economics
Note that up to three elective economics subjects may be used to partially satisfy the HASS requirement; 14.30 may be counted toward the REST requirement; and 14.32 may be used to satisfy the laboratory requirement.
Offered jointly with the Department of Electrical Engineering and Computer Science, Course 6-14 applies methods derived from economic analysis, computing, optimization, and data science to real-world challenges.
Economics as a double major
The economics curriculum is particularly well-suited to use in double majors, and students often combine an economics major with with mathematics, civil or electrical engineering, management, political science, and more. In order to receive two majors, students must complete the 17 General Institute Requirements and the departmental requirements for both majors.
Double majors in 14-1, 14-2, or 6-14 can count up to six of their economics subjects toward the HASS requirement (single majors can count three).
Students majoring in 14-2 cannot have a double major in economics (including major 6-14) or mathematics (including major 18-C). Double majors in 14-2 can count up to six of the economics subjects toward the HASS requirement if 14-2 is a secondary major.
MIT guidelines for double majors
After completing at least one semester in one major, students with a cumulative GPA of 4.0 or higher can petition the Committee on Curricula (CoC) to pursue a second major. Petitions must be submitted to the CoC no later than Add Date of the term prior to the term in which the student intends to receive the S.B. degree.