The Minor in Economics

Why Minor in Economics?

Economics is an essential tool for understanding the complexities of modern society.  Economics analyzes how people with limited resources make choices and how we might make better choices.  It is an extremely flexible and marketable minor.  Whether your primary interest is in business, communications, policy, data management, international studies, or engineering, a minor in economics can give you an additional edge in the workplace. 

What does the Minor require?

You must take 3 required courses and 4 electives for a total of 21 hours. At least 6 hrs of upper-level economics must be taken at GMU and 8 hrs must be independent from your major courses. See the minor webpage.

Requirements (9 credits)

ECON 103 -- Contemporary Microeconomic Principles -- Introduction to microeconomics in the context of current problems.  Explores how the market mechanism allocates scarce resources among competing uses; uses basic tools of supply and demand and production and distribution theory to analyze diverse problems.

ECON 104 -- Contemporary Macroeconomic Principles -- Prerequisite: Econ 103 --Introduction to macroeconomics in the context of current problems.  National income analysis, money and banking, economic growth and stabilization, unemployment, inflation, and the role of government.

ECON 306 -- Intermediate Microeconomics -- Prerequisites: Econ 103 & 104, and Math 108 (Business Calculus) or 113 (Analytical Geometry & Calculus I).  Basic factors of price and distribution theory, including analysis of demand, costs of production and supply relationships, and price and output determination under various market structures.

Electives (12 hours)

Four upper-level economics electives (300-400) -- Whether your major is in business, communication, public and international affairs, information technology, engineering, decision sciences, health science, history, or philosophy, there are Economics electives to complement your major. See the Courses web page. With the permission of the department chair or undergraduate coordinator, a course in a closely related field may substitute for 3 credits of economics electives. Please note that Econ 385 will no longer count for economics elective credit starting in Fall 2009.


A course in statistics is highly recommended and could substitute for up to 3 hours of economics electives. Consider taking:  OM 210, MATH 352, STAT 250, or STAT 344.