Frequently Asked Questions - Undergraduate
- How much math do I need to take?
Calculus I (MAT 121 or 145) is the highest math course required for the general and managerial economics major sequences. Math is not required for an economics minor, but it may be a prerequisite for some courses.
Statistics is also a major requirement and can be applied to the minor as an elective. ECO 138 is listed for the sequence, but MGT/MQM 100, MAT 252, or MAT 351 can also count towards this.
- When can I apply for a major or minor in economics?
We accept applications from current ISU students on a rolling basis.
- Should I take ECO 101 or ECO 102 first?
- I am currently a business major. How many additional courses do I need to complete a minor in economics?
Business majors are required to take ECO 101, ECO 102, and ECO 138/MGT 100; all three of these courses also count toward a minor in economics. Since the minor only requires 18 credit hours, you only need 9 credit hours (3 courses) after that.
ECO 239 is an elective for Finance majors that counts toward course requirements. You only need 6 credit hours (2 courses) after that.
- I am currently a statistics major. How many additional courses do I need to complete a minor in economics?
Statistics majors are required to take MAT 351; if you select Economics as your cognate area, you will also be required to take ECO 101, ECO 102, and two other ECO electives. Since the minor only requires 18 credit hours, you only need 3 credit hours (1 course) after that.
- Can I take ECO 240 and ECO 241 in the same semester?
Yes. ECO 240 and ECO 241 can be taken in any order or during the same semester.
- What’s the difference between the general and managerial economics sequences?
The general economics sequence empowers students to personalize their career paths and capitalize on emerging opportunities flexibly. The managerial economics sequence integrates economic theory with practical business knowledge to facilitate informed managerial decision-making.
To complete the general economics sequence, 35 credit hours are required. For the managerial economics sequence, 47 credit hours are required.
- Can I take courses outside ISU to meet my ECO major/minor requirements?
Yes. We recommend that you review the Registrar's course articulation guides for transferring credits from Illinois Community Colleges. Additionally, you may take courses abroad or at other four-year institutions after the Department of Economics at ISU has reviewed them. Remember that 30 out of your last 60 credit hours must be taken at ISU. Your senior capstone project (ECO 300) must be completed at ISU.
- Can I take ECO 240 or ECO 241 during the same semester as my senior capstone (ECO 300)?
No. ECO 240 and ECO 241 are prerequisites for ECO 300; they must be completed in a semester prior to enrolling in ECO 300 and cannot be taken in the same semester as ECO 300.
- I have an internship and want to receive credit. How do I do this through the Department of Economics?
Your internship application must be approved before the internship begins to earn academic credit (not toward the major/minor) in ECO 398. Please visit this link to view additional information, complete the form, and submit your application essay.
A successful application depends on the essay in which you will discuss how your assigned projects are related to economics and how you will be able to apply the knowledge obtained from your economics courses to the internship. For economics minors, it is essential that you discuss the relevance to economics. If you’ve only taken ECO 101 and 102, you may not have sufficient economics background to undertake any substantial tasks directly related to the subject.