Student Handbook2020-21Bachelor of Sciencein Mathematical EconomicsInterdisciplinary Major with Reh School of Businessand Clarkson University Mathematics Department
BACHELOR OF SCIENCE IN MATHEMATICAL ECONOMICS ACADEMIC INFORMATIONMathematical economics is the application of advanced mathematical methods to microeconomics andmacroeconomics. Students will participate in a rigorous course of study in mathematics, economics, and theinteraction between these two disciplines. Students will learn a broad range of economic theories andmathematical techniques that, together, will enable the students to apply rigorous analytical (empirical and/ortheoretical) techniques to contemporary issues in economics, finance and beyond. Beyond core classes in eacharea, students have the freedom to direct their study towards areas of their own interest, including: EconomicTheory, Data Analytics, Financial Analysis, and others. Students are able to fulfill the complete set of coreBusiness classes as well, in which case they are well-prepared for managerial careers in the private sector, as wellas for the pursuit of graduate education in business, in addition to their expertise in Economics and Mathematics.Students who choose to major in Mathematical Economics will be able to: apply advanced mathematical methods to problems in the economic sciencesuse statistical and econometric techniques to analyze data related to economic and other phenomenabuild and analyze theoretical models which provide guidance about economic and other policiescritically read the scientific literature in the economic sciencesThey will be prepared for, among other things: advanced graduate study in the fields of mathematics and/or economicscareers in economic policy and consultingtraining in the field of actuarial sciencescareers in applied mathematics and statisticscareers as quantitative financial analystsProgram Requirements:Students must complete 120 credits in course work including satisfaction of the University Common ExperienceRequirements, as well as the major requirements cited below. All course work must be completed in accordancewith the academic procedures of the University and the College governing undergraduate scholarship and degrees.Minimum Grade RequirementsA grade of ‘C-’ or better must be achieved in each MA, STAT and EC course applied towards the degreerequirements. Students must obtain a grade point average of 2.0 or higher in all MA, STAT and EC coursescombined.For more information about the Mathematical Economics Major contact either:Dr. Diego NocettiProfessor of Economics & Financial StudiesReh School of Business - 382 Bertrand H. Snell HallPhone: 315/268-3870E-mail: dnocetti@clarkson.eduDr. Joseph SkufcaProfessor, Chair of MathematicsMathematics Department – 355 Science CenterPhone: 315/268-2399E-mail: jskufca@clarkson.edu
Mathematics requirements (at least 27 credit hours) MA 131 -- Calculus I: Cr. 3MA 132 -- Calculus II: Cr. 3MA 200 -- Introduction to Mathematical Modeling & Software: Cr. 3MA 211 – Discrete Mathematics and Proof: Cr. 3 (Communication pts: 2)MA 231 -- Calculus III: Cr. 3MA 232 -- Elementary Differential Equations: Cr. 3MA 339 -- Applied Linear Algebra: Cr. 3STAT 383 -- Probability and Statistics: Cr. 3At least one additional MA or STAT course numbered above 300Economics requirements (at least 24 credit hours) EC 150 -- Principles of Microeconomics: Cr. 3EC 151 -- Principles of Macroeconomics: Cr. 3EC 357 -- Intermediate Microeconomics: Cr. 3EC 358 -- Intermediate Macroeconomics: Cr. 3EC 311 -- Introduction to Econometrics: Cr. 3EC 313 -- Mathematical Economics: Cr. 3 (Communication pts: 2)At least two additional courses with an EC course prefix.Recommended MA electives: MA331 -- Fourier Series & Boundary Value Problems: Cr. 3MA332 -- Intermediate Differential Equations: Cr. 3MA363 – Mathematical Modeling: Cr. 3 (Communication pts: 2)STAT381 -- Probability: Cr. 3STAT382 -- Mathematical Statistics: Cr. 3STAT384 -- Advanced Applied Statistics: Cr. 3Recommended EC electives: EC 360 – Environmental Economics: Cr. 3EC 367 – International Economics: Cr. 3EC 370 – Economics of Innovation/Entrepreneurship: Cr. 3EC 384 – Game Theory and Economic Strategy: Cr. 3EC 451 – Industrial and Supply Chain Economics: Cr. 3EC 468 – Financial Markets and Institutions: Cr. 3EC 475 – Personnel Economics: Cr. 3Students who intend to pursue a career in actuarial sciences or graduate studies in economics are encouraged totake additional mathematics and economics courses. Recommended mathematics courses are any of the aboveMA or STAT courses. Recommended economics courses are any of the above EC courses.
Bachelor of Science in Mathematical Economics8 Semester PlanFirst Year — First SemesterFirst Year — Second SemesterCourseTitleCr. Hrs.CourseTitleCr.Hrs.EC150Prin. of Microeconomics (EC)3EC151Prin. of Macroeconomics (EC)3MA131Calculus I3MA200Math Modelling and Software3UNIV190Clarkson Seminar3MA132Calculus II3Science Course3Knowledge Area Course3Knowledge Area Course3Science Course w/lab3First-Year Seminar1TOTAL16TOTAL15Second Year — First SemesterSecond Year — Second SemesterCourseTitleCr. Hrs.CourseTitleCr. Hrs.EC313Mathematical Economics3EC357Intermediate Microeconomics3STAT383Probability and Statistics3EC311Econometrics3MA231Calculus III3MA232Elementary Differential Equations3Free Elective (TECH)3Free Elective3Free Elective3Free Elective3Total15TOTAL15Third Year — First SemesterThird Year — Second SemesterCourseTitleCr. Hrs.CourseTitleCr.Hrs.MA211Discrete Mathematics and Proof3MA339Applied Linear Algebra3EC358Intermediate Macroeconomics3ECXXXEcon Elective3Knowledge Area Course3Free Elective (C1)3Free Elective3Free Elective3Free Elective3Knowledge Area: Univ course3TOTAL15TOTAL15Fourth Year — First SemesterFourth Year — Second SemesterCourseTitleCr. Hrs.CourseTitleCr. Hrs.MA3XXMath Elective3ECXXXEcon Elective3Free3Free Elective3Free Elective (C2)3Free Elective (C1)3Free Elective3Free Elective3Free Elective3Free Elective3Total15TOTAL15
Student Advising Worksheet – Clarkson UniversitySTUDENT:GRAD DATE:STUDENT ID #:PHONE #:MAJOR:Mathematical EconomicsOTHER INFO:GPA:MINOR(S):COMMON EXPERIENCE COURSESTitleCourseThe Clarkson SeminarMathematical EconomicsTitleCourse Term GradeNotesUNIV190MicroeconomicsEC 150KA/ECMA131KA/ECMathematics (Calculus I)Term GradeNotesMacroeconomicsEC 151Mathematics (Probability & Statistics) STAT383Introduction to EconometricsEC311ScienceIntermediate MicroeconomicsEC357Science with a labIntermediate MacroeconomicsEC358Mathematical EconomicsEC313Professional Economics ElectiveECXXXProfessional Economics ElectiveECXXXCalculus IIMA132Intro to Mathematical ModelingMA200Discrete Mathematics and ProofMA211Calculus IIIMA231Elementary Differential EquationsMA232First Year Seminar**FY1001 creditFree ElectivesTitleCourseTermGradeNotesFree ElectiveFree ElectiveFree ElectiveFree ElectiveFree ElectiveFree ElectiveFree ElectiveApplied Linear AlgebraMA339Math Elective – see list belowMAXXXC2C2Free ElectiveFree ElectiveFree ElectiveFree Elective (Tech)Free ElectiveKnowledge AreaFree ElectiveKnowledge AreaFree ElectiveKnowledge AreaFree ElectiveKnowledge /UNIV CourseFree ElectivePROFESSIONAL ECONOMICS ELECTIVES : (choose 2)Any 300 level or higher Economics course. Recommended Econ courses:EC360 - Environmental Economics (pre-req: EC/EM150 or EC350)EC367 - International Economics (pre-req: at least one course in EC)EC370 - Economics of Innovation (pre-req: EC150 and soph std)EC384 - Game Theory and Econ Strategy (pre-req: EC/EM150 or EC350)EC451 - Industrial & Sup Chain Econ (pre-req: EC150 or EC350 & MA131)EC468 - Financial Markets & Institutions (pre-req: FN361)EC475 - Personnel Economics (pre-req: EC150)EXTRA COURSEWORK (IF DGE AREAS & COMMUNICATION POINTSKNOWLEDGE AREA12345Economics & Organizations (EC)KACourseEC 150COMMCourseMA211Points (6)EC313C2RECOMMENDED MATH COURSES: (choose 1)MA331 - Fourier Series & Boundary Value (pre-req: MA231 & MA232)MA332 - Intermediate Differential Equations (pre-req: MA231& MA232)MA363 - Mathematical Modeling (pre-req:MA231,MA232 & PH132) (C2)STAT381 - Probability (pre-req: MA231 or MA230 (MA211 recommended)STAT382 - Mathematical Statistics (pre-req: MA/STAT381)STAT384 - Advanced Applied Statistics (MA231 & Stat 383)C2PROFESSIONAL EXPERIENCEUNIVERSITY Course ( / )Students must complete at least 5 knowledge area courses that cover 4 ofthe following 6 knowledge areas: Contemporary & Global Issues (CGI) Cultures & Society (CSO) Imaginative Arts (IA) Science, Technology & Society (STS) Economics & Organizations (EC) Individual & Group Behavior (IG)One of these five courses must be University Course that has two knowledgearea designators (UNIV)Students must complete a total of at least 6 communication points.Date Completed:Company/Org:Notes:Notes:GLOBAL STUDY REQUIREMENTDate Completed:Location:Notes:
Bachelor of Science in Mathematical Economics with Double Major Option with Business8 Semester Plan (Business Core)First Year —CourseEC150SB113UNIV190MA131First SemesterTitlePrinciples ofMicroeconomics (KA:EC)Entrepreneur and BusinessInn. I (C1)Clarkson SeminarFirst Year —Second SemesterCr. Hrs.CourseTitleCr.Hrs.3EC151Prin. of Macroeconomics (KA:EC)33AC202Financial Accounting33MA132Calculus II3Science Course3Knowledge Area Course3Calculus I3Science Course w/lab3First-Year Seminar1TOTAL16TOTAL15Second Year — First SemesterCourseIS211AC203MA231OS286EC313Second Year — Second SemesterCr. Hrs.CourseTitleCr.Hrs.3Stat383Probability and Statistics33MK320Principles of Marketing3Calculus IIIOrganizational Behavior(KA:IG)Mathematical Economics3OS352Strategic Human Resource Mgmt33MA200Intro to Mathematical Modeling33EC357Intermediate Microeconomics3Total15TOTAL15TitleIntro to Enterprise InfoSystems (TECH)Managerial AccountingThird Year — First SemesterCourseEC358FN361OM331EC311MA211Third Year — Second SemesterTitleIntermediateMacroeconomicsFinancial Management ICr. Hrs.CourseTitleCr.Hrs.3MA232Elementary Differential Eq33ECXXXEcon Elective3Oper & Supply Chain MgmtIntroduction toEconometricsDiscrete Math. &Proof3Knowledge Area Course33Free Elective33Knowledge Area: Univ course3TOTAL15TOTAL15Fourth Year — First SemesterFourth Year — Second SemesterCourseTitleCr. Hrs.CourseTitleMA339Applied Linear Algebra3OS432Organiz. Policy & Strategy (C2)Cr.Hrs.3ECXXXEcon Elective3MAXXXMath Elective3LW270Law and Society I3Free Elective3Free Elective3Free Elective (C1)3Free Elective3Free3Total15TOTAL15
Student Advising Worksheet (Business Core) – Clarkson University School of BusinessSTUDENT:GRAD DATE:STUDENT ID #:PHONE #:MAJOR:Mathematical EconomicsOTHER INFO:GPA:MINOR(S):COMMON EXPERIENCE COURSESTitleCourseThe Clarkson SeminarMathematics (Calculus)Mathematics (*Statistics)Mathematical EconomicsTerm GradeNotesTitleCourse Term GradeUNIV190Intermediate MicroeconomicsEC357MA131Intermediate MacroeconomicsEC358STAT383ScienceScience with a labFirst Year Seminar**FY1001 creditSCHOOL OF BUSINESS CORE COURSESTitleCourseTerm GradeNotesEntrepreneurship & Bus Inn I or PEMicroeconomicsEC 150ECMacroeconomicsEC 151ECFinancial AccountingAC 202AC 203Law & Society ILW 270Intro to Bus Intell & Data AnalyticsIS 110TECHOrganizational BehaviorOS 286IGIntroduction to EconometricsEC311Financial ManagementFN 361Operations & Supply Chain MgmtOM 331Principles of MarketingMK 320Strategic Human Resource MgmtOS 352Organizational Policy & StrategyOS 432GradeNotesCourse12345Professional Economics ElectiveECXXXCalculus IIMA132Intro to Mathematical ModelingMA200Discrete Mathematics and ProofMA211Calculus IIIMA231Elementary Differential EquationsMA232Applied Linear AlgebraMA339Math Elective – see list belowMAXXXC2Free ElectiveFree ElectiveFree ElectiveFree /UNIV CourseC2TermGradeNotesKNOWLEDGE AREAS & COMMUNICATION POINTSEconomics & Organizations (EC)KACourseEC 150Individual & Group Behavior (IG)OS 286KNOWLEDGE AREAECXXXFree ElectiveEXTRA COURSEWORK (IF ANY)TermEC313Professional Economics ElectiveFree ElectiveManagerial AccountingCourseMathematical EconomicsNotesCOMMCourseOS 432Points (6)PROFESSIONAL ECONOMICS ELECTIVES : (choose 2)Any 300 level or higher Economics course. Recommended Econ courses:EC360 - Environmental Economics (pre-req: EC/EM150 or EC350)EC367 - International Economics (pre-req: at least one course in EC)EC370 - Economics of Innovation (pre-req: EC150 and soph std)EC384 - Game Theory and Econ Strategy (pre-req: EC/EM150 or EC350)EC451 - Industrial & Sup Chain Econ (pre-req: EC150 or EC350 & MA131)EC468 - Financial Markets & Institutions (pre-req: FN361)EC475 – Personnel Economics (pre-req: EC150)RECOMMENDED MATH COURSES: (choose 1)MA331 - Fourier Series & Boundary Value (pre-req: MA231 & MA232)MA332 - Intermediate Differential Equations (pre-req: MA231& MA232)STAT381 - Probability (pre-req: MA231 or MA230 (MA211 recommended)STAT382 - Mathematical Statistics (pre-req: MA/STAT381)STAT384 - Advanced Applied Statistics (MA231 & Stat 383)2PROFESSIONAL EXPERIENCEUNIVERSITY Course ( / )Students must complete at least 5 knowledge area courses that cover 4 ofthe following 6 knowledge areas: Contemporary & Global Issues (CGI) Cultures & Society (CSO) Imaginative Arts (IA) Science, Technology & Society (STS) Economics & Organizations (EC) Individual & Group Behavior (IG)One of these five courses must be University Course that has two knowledgearea designators (UNIV)Students must complete a total of at least 6 communication points.Date Completed:Company/Org:Notes:GLOBAL STUDY REQUIREMENTDate Completed:Location:Notes:NOTESSemester Exchange, UNIV399, and UNIV267 will satisfy the global studyrequirement. For other options, consult your advisor.Courses in BOLD satisfy NYS 50% non-business course requirement.**FY100 is required for 1st year students only and does not count towards the120 credit hour graduation requirement.
Required Global StudyA global experience is required for graduation for Mathematical Economics Students. Globalization is today. Employers areseeking graduates who understand culture & diversity and to have had first-hand exposure.We offer two options: semester exchange and short term faculty led trips.Semester ExchangeA semester exchange is usually completed in the junior year through exchange programs that Clarkson has with various universities throughoutthe world. Students are expected to apply through the International Center during their sophomore year with the expectation of study duringtheir junior year. Prior to departure, an Off-Campus Course Work Permission form must be completed and approved for each course. In addition,“Good Standing” status is a requirement. To find out more details, contact the International Center or visit their Web site it our Fall International Fair! Each fall the School of Business hosts an informational session to highlight all of the International programofferings that are offered through the International Center and faculty led trips for the upcoming year. The International Center will also hostinformation sessions about our semester exchange options. Some of our Partner Schools include:FranceSpainChinaEnglandCroatiaGermanyPast Spring/Fall Trip Choices included:AustraliaThailand
The Professional Experience requirement of the Clarkson Common Experience curriculum is the following:“All students participate in a project-based professional experience such as co-op, internship, directed research, or community projectclearly related to the student's professional goals.”Professional Experience ObjectivesStudents should develop an appreciation of the need for self-motivated, life-long learning:1. Students should understand the need for continuously updating their professional skills after graduation.2. Students should demonstrate learning effectively on their own.Students should develop an increased social awareness and interpersonal competence:3. Students should demonstrate leadership skills such as goal setting, change management, ethical behavior, andactionable feedback,4. Students should demonstrate teamwork skills such as building effective relationships with peers, being acollaborative team member, and identifying and managing team conflict,5. Students should demonstrate an understanding of the value of service to the University, to the community, or tothe profession.providingStudents can fulfill this requirement by one of the following(It is expected that students will work at least 150 hours towards this requirement):Option A: A meaningful professional experience, such as an internship in industry or a government facility,among others. This would typically take place during the summer, but could be a semester co-op assignment.Option B: Serving as a leader or taking on a role with significant responsibility in a professional or communityservice organization or in another volunteer activityOption C: Participation in an independent project under the direction of a qualified mentor. This could be atClarkson or elsewhere, could be a summer experience or during the academic year, could be for pay or forcourse credit (not both).Step 1 – Identify and define your proposed experience. Be sure to utilize the Career Center Resources.Step 2 – Gain approval for your experience by submitting your pre-approval information through your Handshake account.Step 3 – Once approved, Mathematical Economics majors can register for the Professional Experience – see below.SB310 – Reh School of Business Professional Experience: Internship Credits: (0) Project-based professional internshipexperience related to student career interests and/or field of study. Completion of course requires University approval of postinternship assessment by student and employer. Students can complete this internship during the spring, summer, or fall semester.Offered Pass/No Credit.MA499 – Mathematics Professional Experience: Internship Credits: (0) The requirement can be satisfied in a number of waysincluding internships or co-ops with appropriate professional content, participation in REU programs, a mathematical honors thesis,teaching assistance in mathematics, active participation in professional societies including attendance at regional or nationalconferences and presentation of work at such. Directed study or research courses that lead to such presentations would also satisfy therequirement. Check with the Math department for specific requirements. Offered Pass/No Credit.Step 4 – Complete your post assessment in Handshake. Your supervisor can submit their evaluation through Handshake.Upon completion you be granted a P grade for SB 310 or MA499. You are required to show SB310 or MA 499 with a Pgrade on your transcript in order to meet degree requirements.
MATHEMATICAL ECONOMICS CAREER INFORMATIONMathematical economics is a model of economics that utilizes math principles and methods to create economictheories and to investigate economic quandaries. Mathematics permits economists to conduct quantifiable testsand create models to predict future economic activity.Economists often wrestle with competing models capable of explaining the same recurring relationship called anempirical regularity, but few models provide definitive clues to the size of the association between centraleconomic variables. From Main Street to Wall Street to Washington, this is what matters most to policymakers.When setting monetary policy, for example, central bankers want to know the likely impact of changes in officialinterest rates on inflation and the growth rate of the economy. It is in cases like this that economists turn toeconometrics.Source: Investopedia – Investopedia.comThe starting average salary for a graduate with this degree ranges from 57,000 to 66,000.CHARACTERISTICS OF SUCCESSFUL STUDENTSStudents graduate with highly valued analytical skills, and will be able to integrate that knowledge with a deeperunderstanding of the business world. This combination of mathematics and economics knowledge makesMathematical Economics graduates both highly competitive on the job market and excellent candidates forgraduate school.CAREER POSSIBILITIES ActuaryBank ExaminerBudget and Finance ManagerEconomistFinancial PlannerInvestment ManagerMarketing ManagerReal Estate InvestorStatisticianManagement accountant Market research analystFinancial analystMarketing/sales managerFinancial plannerClaims examinerInvestment managerInternational trade specialistTeacherProfessor BloombergPreferred MutualPEMCO InsuranceCentral Garden & Pet CompanyToshiba Global Commerce SolutionsAllegiant TravelSalesforceNCSA – Next College Student AthleteVolkswagen Group of AmericaNationwideAbsolutdataPentagon Federal Credit UnionCOMPANIES THAT HIRE Quad Capital AdvisorsOriental Trading CompanyFlow TradersRapid AdvanceCredit Acceptance CorporationUSAAGap Inc.Quicken LoansCredit Acceptance CorporationManagement Consulting & ResearchNextwave EnterprisesAvalere HealthMurtech ConsultingNasdaq
COMPANIES THAT HIRE (CONTINUED) Nestle Waters North AmericaFederal Reserve Bank of PhiladelphiaRetailMeNotTransamericaUnited Auto Credit Corp.Heineken USAJust EnergyCitcoAddeparTaco BellWalmart eCommerce Wells FargoT-MobileAmazonApple Inc.Travelers CompaniesCareSourceVanguardAncestryUberFannie Mae* source: GlassdoorRELATED PROFESSIONAL GROUPS Occupational Outlook Handbook - www.bls.govSociety for Industrial and Applied MathematicsInstitute for Operations and the Management SciencesSociety of ActuariesAmerican Economic AssociationNational Bureau of Economic ResearchAmerican Mathematical SocietyMathematical Society of AmericaMATHEMATICAL ECONOMICS WEBSITES O*NET www.onetonline.orgJournal of Mathematical Economics - economicsIntelligent Economist - ectures in Quantitative Economics - https://lectures.quantecon.org/
Student Handbook 2020-21 Bachelor of Science in Mathematical Economics Interdisciplinary Major with Reh School of Business and Clarkson University Mathematics Department . . Recommended mathematics courses are any of the above MA or STAT courses. Recommended economics courses are any of the above EC courses.
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