Program Description
The best way to understand the world you live in is arguably to understand the economics that drive it. The world is constantly and increasingly confronted with public policy issues that are essentially economic in character. Economic analysis provides a coherent and logical ordered framework for examining these issues and understanding the tradeoffs involved in attempting to solve social and business problems.
The economics curriculum at NYU Shanghai is designed to introduce students to these fundamental dynamics of human life and, in doing so, is grounded in three basic pedagogical principles:
- Undergraduate students must be exposed to the “big ideas” and pressing social issues of our world and given economic frameworks for thinking about them.
- Meaningful study of economics requires being able to think about problems from local, regional, and global perspectives. Understanding how individuals make decisions also requires incorporating insights from neuroscience and psychology.
- Effective economic analysis increasingly involves both conducting and effectively communicating the results from quantitative analyses of data using econometric methods.
Building on these principles, the Economics major is designed to foster rigorous analytical abilities both in neoclassical and behavioral economics, critical writing and communication skills, and the capacity to use and interpret statistical data—all in the service of developing sound economic reasoning and problem-solving skills. These transferable strengths are of value in a broad array of academic and professional paths, from economics, business, or law, to public service or graduate studies.
Admissions
New York University's Office of Undergraduate Admissions supports the application process for all undergraduate programs at NYU. For additional information about undergraduate admissions, including application requirements, see How to Apply.
Learning Outcomes
Upon successful completion of the program, students will display:
- Proficiency in critical thinking. Students are able to work in an independent fashion to analyze the logical essentials of a problem. They understand basic microeconomic and macroeconomic concepts and can apply them to analyze real-world events.
- Proficiency in written and oral communication. Students are able to write coherent and accurate reports when analyzing current economic events and when interpreting their own findings. They can deliver effective oral presentations that explain economic concepts, and they know how to justify their economic analysis carefully and accurately. They demonstrate computer literacy in the preparation of reports and presentations.
- Proficiency in neoclassical economic analysis. Students are sufficiently prepared to be able to understand the contributions of current research papers and of other current work in neoclassical microeconomics and macroeconomics. They are able to use the concepts they encounter to analyze contemporary economics events and policies.
- Proficiency in behavioral Economic analysis. Students are able to articulate the limitations of neoclassical economic analysis and can also appreciate how insights from psychology, neuroscience, and other cognitive sciences can expand the explanatory power of economic analysis and can reshape the design of public policies.
- Proficiency in empirical analysis. Students understand how to turn economic theories into testable hypotheses. They can work independently to collect and use economic data from a wide variety of sources and can conduct empirical tests of hypothesized relationships. They have familiarity with a range of research designs that can help uncover causal relationships in data. Students have achieved an effective working knowledge of current statistical software and data management tools.
- Interpret data through various forms of evidence by employing qualitative and quantitative methods by means of appropriate research design, rigorous investigation, and critical analysis of a wide range of social phenomena.
Policies
Calculus Requirement
Economic major students must either take MATH-SHU 131 Calculus, place out of Calculus, or take Honors Calculus, in order to satisfy the Mathematics requirement in the core curriculum.
Economics and Data Science Double Major Guidelines
Students who are interested in pursuing a Data Science major along with an Economics major have the option to double-count more than two courses between the majors. To complete both majors successfully, students would need to complete the course requirements for both majors. However, the following courses are allowed to be double-counted toward both majors:
Economics and Data Science (Concentration in Economics)
Economics and Data Science (Concentration in Finance)
NYU Policies
University-wide policies can be found on the New York University Policy pages.
NYU Shanghai Policies
Additional academic policies can be found on the NYU Shanghai Academic Policies page.