College of Arts & Sciences

Mathematical Economics

120

Total hours

49

Major hours

28

Core hours

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Mathematical Economics combines the study of mathematics, statistics, and economics. A strong preparation in the fundamentals of both economics and mathematics is crucial to success in the increasingly complicated international business world. At its core Mathematical Economics is the study of economic phenomena through mathematical methods and modeling. 

Careers

Grow Your Future

There are excellent job opportunities in all areas of risk management. Many of the Mathematical Economics majors go into the actuarial profession after graduation. The major is also provides a strong foundation for graduate work in mathematics, economics, finance, and operations research.

Career opportunities in Mathematical Economics

  • economist   
  • management accountant
  • actuary
  • bank examiner  
  • market research analyst
  • financial analyst  
  • marketing/sales manager
  • financial planner  
  • claims examiner  
  • investment manager
  • international trade specialist  
  • real estate investor
  • statistician
  • teacher
  • professor

Classes & Requirements

What You'll Study

The mathematical economics major combines mathematics, statistics, and economics. The major offers a strong preparation in the fundamentals of both economics and mathematics. The program prepares students to go directly into the business world with skills that are in high demand, or to go on to graduate study in economics or finance use.

 

Graduation Requirements

Any student earning a Bachelor of Arts (BA) degree must complete a minimum of 39 hours at the 300+ level. These hours are generally completed by the major requirements. However, keep this hour requirement in mind as you choose your course work for the requirements in the major. Students interested in earning a Bachelor of Science (BS) degree must complete a minimum of 60 hours in biological, physical, mathematical and/or computer sciences. See the complete description of College requirements for a Bachelor of Arts and Bachelor of Sciences degrees in the Arts and Sciences section of the 2019-2020 Undergraduate Bulletin.

UK Core Requirements

  • The Nature of Inquiry in Arts and Creativity (3 hours)
  • The Nature of Inquiry in the Humanities (3 hours)
  • The Nature of Inquiry in the Social Sciences (3 hours)
  • The nature of Inquiry in the Natural, Physical and Mathematical Sciences (3 hours)
  • Composition and Communication I (3 hours)
  • Composition and Communication II (3 hours)
  • Quantitative Foundations (3 hours)
  • Statistical and Inferential Reasoning (3 hours)
  • Community, Culture and Citizenship in the USA (3 hours)
  • Global Dynamics (3 hours)

Total Credit Hours - 30


Pre-major Requirements 

  • MA 113 - Calculus I [4 hours]
  • MA 114 - Calculus II [4 hours]

Total Hours - 8

Major Requirements 

Mathematics Core Requirements

  • MA 213 - Calculus III [4 hours]
  • MA 214 - Calculus IV [3 hours]
  • MA 322 - Matrix Algebra and Applications [3 hours]
  • MA 320 - Introductory Probability [3 hours] or STA 524 Probability [3 Hours]

Economics Core Requirements

  • ECO 201 - Principles of Economics I [3 hours]
  • ECO 202 - Principles of Economics II [3 hours]
  • ECO 391 - Economic and Business Statistics [3 hours]
  • ECO 401 - Intermediate Microeconomic Theory [3 hours]
  • ECO 402 - Intermediate Macroeconomic Theory [3 hours]

Mathematics Component

  • MA 416G - Introduction to Optimization [3 hours]
  • MA 417G - Decision Making Under Uncertainty [3 hours]
  • STA 525 - Introduction to Stat Inference [3 hours]

OR

  • MA 417G - Decision Making Under Uncertainty [3 hours]
  • MA 471G - Advanced Calculus I [3 hours]
  • MA 472G - Advanced Calculus II [3 hours]

Economics Component

  • ECO 491G - Applied Econometrics [3 hours]
  • ECO 300+ Elective [3 hours]
  • ECO 400+ Elective [3 hours]

Statistics Component 

  • STA 296 - Statistical Methods and Moivations [3 hours] or a higher level Statistics course​

Total Hours - 49


Mathematical Economics | Bachelor of Arts

2020-21 Major Sheet B.A. Four Year Plan

Mathematical Economics | Bachelor of Science

2020-21 Major Sheet B.S. Four Year Plan

Imagine Your Future

Economists

Economists collect and analyze data, research trends, and evaluate economic issues for resources, goods, and services.

Source: Bureau of Labor Statistics | Click the link for more info.

Median Salary

$104,340

per year in 2018

Number of Jobs

21,000

in 2018

10 Year Job Outlook

1,700

new jobs (average)

Work Environment

Although the majority of economists work independently in an office, many collaborate with other economists and statisticians. Most economists work full time during regular business hours, but occasionally they work overtime to meet deadlines.

Source: Bureau of Labor Statistics

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Similar Occupations

Source: Bureau of Labor Statistics

  • Actuaries
  • Budget Analysts
  • Financial Analysts
  • Market Research Analysts
  • Mathematicians and Statisticians
  • Operations Research Analysts
  • Political Scientists
  • Postsecondary Teachers
  • Survey Researchers
  • Urban and Regional Planners

A&S Undecided/Exploratory Studies

Understanding that over 70 percent of university students will change their declared major at least once during their college careers, the College of Arts and Sciences has developed an Exploratory Studies program for students who have yet to decide the specific field of study that most closely aligns both their personal interests and their professional career goals and objectives. The Exploratory Studies Program provides students with an extraordinarily diverse educational environment that includes coursework spanning Math and Natural Sciences, Humanities, and Social Sciences and provides students with the unique opportunity to explore multiple areas of interest during their first several semesters on campus. For more information please contact a recruiting representative at asrecruting@uky.edu. 


Enhancing Your Time at UK

There are countless ways to “see blue.” on campus, but the best way to maximize your journey at the University of Kentucky is by engaging in an Education Abroad opportunity.

This will allow you to gain a global perspective and enhance future employability. As you take the first step towards investing in your future, we encourage you to take advantage of all the opportunities UK has to offer. Take a look at some of the options UK Education Abroad & Exchanges office suggests to complement your major! #SeeBlueAbroad

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