Economics
Why Study Economics?
In Caltech's Bachelor of Science (BS) in Economics degree program, prepare to catalyze new knowledge and gain practical experience in economic theory, history, and mathematical modeling, backed by a well-rounded theoretical background in economics and social sciences.
Whether you endeavor to research or work professionally in finance, statistics, business, law, economics, government, science, or engineering, equip yourself with the quantitative skills to tackle complex questions on local, national, and global scales, from how new technology can impact market competition to how the brain's neural networks predict economic patterns.
Why Economics at Caltech?
If you love to theorize about bringing mathematical precision to hard-to-define processes, like the decision to make a purchase or the stock market movements, the economics option at Caltech offers unrivaled access to high-level research experience and interdisciplinary collaboration to feed your curiosity. The program's flexibility lets you combine economic theory, policy, and computing with other engineering, math, or science studies, preparing you to break new ground in many fields and industries.
The Ronald and Maxine Linde Institute of Economic and Management Sciences is Caltech's hub for interdisciplinary economics, finance, and entrepreneurship research. As early as the first year as an Economics major, you can reach out to faculty to secure research or internship opportunities across Caltech's vast network, contributing to investigations into the mathematical, social, and even neurobiological principles behind economic behavior.
What You'll Learn
In our economics major curriculum, you won't just study economic theory, data analysis, applied microeconomics, and macroeconomics/growth. You will thoroughly understand the mechanisms and philosophies behind global markets and historical economic crises, learn how to use economic models in real-world scenarios, and collaborate with other students and active research groups to create experiments to explain the dynamics of human behavior and economic interactions.
In courses like Behavioral Game Theory, you learn directly from the world's leading expert in the topic, Colin Camerer, discovering how to think strategically with anchors in real-world insights. In other advanced classes, you'll continue to examine market and human behavior through multiple theoretical models, discuss the root meanings of "value" and other concepts and develop the computing and analytical skills necessary to excel in today's economics careers.
View the Caltech catalog for degree requirements and curriculum information.
Who You'll Learn From
Caltech's 20+ economics professors are distinguished theorists, economic historians, and researchers in traditional and experimental areas of economics such as neuroeconomics. They study human behavior and reasoning, develop mathematical models for predicting economic outcomes, engineer cost-effective environmental solutions, and pioneer subfields like neuroeconomics.
In highly interdisciplinary courses in the Caltech-wide core first-year curriculum and your choice of advanced coursework, you'll also learn from economists, social scientists, political scientists, financial experts, and leaders in machine learning.
Studying economics will help give you a different perspective on the world. No matter what you do later in engineering, math, or computer science—if you know about business, economics, and management, you can progress in your career.
Career Possibilities
Students majoring in economics learn to apply mathematical, statistical, and social science methodologies to make informed decisions for businesses and economies. Many students pursue graduate degrees to become government economists or researchers in higher education, while others leverage economic skills and insights for analytical or policy-related positions in government agencies, financial institutions, and startups. Economics majors excel as:
- Academic and research faculty
- Business growth strategists
- Economists
- Financial analysts and strategists
- Financial researchers
- Information and computer scientists
- Market researchers
Curriculum Components and Prerequisites
Economics degree requirements include introductory courses in economic theory, coursework in applied economics and economic growth, data analysis, advanced mathematics, and soft skills like scientific writing and oral presentation. After passing the first-year core curriculum, students begin major-specific requirements, including:
- Humanities undergraduate core
- Foundations in theory, quantitative analysis, and applied micro and macro econ
- Advanced economics and social science courses
- Advanced science, mathematics, and engineering courses
Pursue a Bachelor's in Economics at Caltech
The theoretical foundation and mathematical and analytical rigor of Caltech's Bachelor of Science in Economics degree program builds the skills and experiences that lead to impactful careers in industry, economic policy, and research, from Wall Street to global policy think tanks.