Studying Economics at Columbia University

Columbia University is one of the topmost Ivy League Universities that has made it to the top five colleges in the world for studying Economics. This university established in New York is 266 years ago and has a Department of Economics that believes in engaging students with policies relating to economy and finances through a combination of developing analytical skills with regard to social issues along with providing a strong basis for future academic and career opportunities.

The faculties in their Department of Economics deal specifically with concepts like Behavioral and Experimental Economics, Contracts and Organization, Developmental Economics, Econometrics, Finance, International Macroeconomics, Urban Economics, Political Economy, etc. among others.

The university has over 42 courses in the subject of Economics and has over 4969 undergraduate enrollments in total where over 777 students have taken up Economics. This subject and department are one of their strongholds in academia and hence is one of the best options for high-aspiring students if they are seeking out the best university that deals with equal amounts of theory and practice in their curriculum.

Undergraduates Programs at Columbia University

The undergraduate program in Economics is focused on the core theoretical courses that can lay the foundation in the subject before students can move on to advanced and theory-specific concepts. These courses also have a structure that molds the student into economists who can choose their higher-level electives through a certain understanding of the subject rather than a vague course name.

Application Requirements for Undergraduate Programs

All undergraduate course admissions are dealt with by the Columbia College and the School of General Studies. The general and Columbia-specific application requirements are as follows-

• Coalition Application/ Common Application- where the autobiographical information of the candidate including a description of their achievements, activities, employment, and even summer activities must be mentioned. A personal essay must also be included in the application.
• Secondary School Report- that includes a high school transcript from each school they have attended along with their school counselor’s recommendation and a school profile. It should also contain a Mid-Year report.
• Test Reports of standardized tests like SAT/ ACT.
• TOEFL/ IELTS have to be written by students if required.
• Teacher Recommendations- from teachers who have taught them academically.

Economics Majors

The Department of Economics in Columbia, like most universities, focuses mainly on the study of micro and macroeconomic theory but they also teach students on modeling economic relationships and testing hypotheses against data. They offer 6 Majors and one concentration where the majors are-

• Economics
• Financial Economics
• Joint with Math
• Joint with Philosophy
• Joint with Political Science
• Joint with Statistics

Course Requirements for all Economic Majors

The core courses for all economic majors are-

• Principles of Economics
• Intermediate Microeconomics- with Principles of Economics and Calculus III as a prerequisite.
• Intermediate Macroeconomics- with Principles of Economics and Calculus I as a prerequisite.
• Introduction to Econometrics- with Calculus III and Intermediate Microeconomics or Calculus-Based Introduction to Statistics as a prerequisite.

Other General Requirements for Economics Majors

• Students are supposed to score a grade of C- or above in order to clear the course
• If the student receives a grade of D or F they are supposed to take a higher-level elective course with the said core course as a prerequisite.
• Students should take Economics Electives after completing all perquisites.
• All students must take Calculus-Based Introduction to Statistics or a higher-level course.

Major in Economics

Students require a minimum of 44 points in total for them to be able to complete the course. They have to take Economics Core Courses, Mathematics, Statistics, Economics Electives, and one Economics Seminar where the Seminars are not considered as an Elective. The points that have to be earned in every subject for this course are-

• 35 points for Economics
• 6 points in Mathematics
• 3 points in Statistics

Major in Financial Economics

Students have to receive a total of 50 points to complete the course by doing Economics Core Courses, Finance Core Courses, Mathematics, Statistics, Electives and Seminars. The point distribution is as follows-

• 26 points in Economics
• 6 points in Mathematics
• 3 points in Statistics
• 3 points in Business
• 12 points from other selected courses

Major in Economics-Mathematics

The total number of points students ought to earn for this course is 52 or 56 based on the mathematics sequence the student opted for. Students have to take Economics Core Courses, Economics Electives, Mathematics, Statistics, Economics Seminar. The point distribution is as follows

• 28 in Economics
• 23-27 in Mathematics

Major in Economics-Philosophy

The points required to complete 54 points in all for the course by doing the Economics Core Courses, Mathematics, Statistics, Economics Electives, Philosophy, Seminar. The point distribution is as follows-

• 25 in Economics
• 16 in Philosophy
• 6 in Mathematics
• 3 in Statistics
• 4 in Interdisciplinary Seminar

Major in Economics-Political Science

The course requires students to complete 59 points in all by taking Economics Core Courses, Mathematics, Statistical Methods, Economics Electives, Political Science Courses and Seminars. The point distribution is as follows-

• 22 in Economics
• 17 in Political Science
• 6 in Mathematics
• 6 in Statistical Methods
• 4 in Political Science Seminar
• 4 in Interdisciplinary Seminar

Major in Economics-Statistics

The course requires students to complete 59 points in all which the student has to attain through Economics Core Courses, Economics Electives, Mathematics, Statistics, Computer Science, Economics Seminar. The points required have been distributed as follows-

• 29 in Economics
• 15 in Statistics
• 12 in Mathematics
• 3 in Computer Science

Concentration in Economics

This course requires students to receive 34 points in by taking Economics Core Courses, Mathematics, Statistics, and Economics Electives. The point distribution is-

• 25 in Economics
• 6 in Mathematics
• 3 in Statistics

Master’s Program at Columbia University

Students applying for the Master’s degree program in Economics must have prior knowledge in topics like principles of economics, intermediate microeconomics, intermediate macroeconomics, and introduction to econometrics since these are the courses that are focused on at their undergraduate level.

Most top-level universities do not offer a free-standing M.A in Economics course for students and hence Columbia University offers the opportunity for the same if they want to explore higher studies before applying for a Ph.D. program. But if students are not interested in doing a free-standing M.A, they can always choose to apply for the Ph.D. course directly. The tuition fee for the Master’s program is estimated to be $37,016 per semester for a residence unit for 20 points or below. An M.A. program requires two residence units in all.

Application Requirement

The application fee for applying for an M.A is $115.

• Transcript including information regarding courses taken and grades per school
• State of Purpose
• 3 Letters of Recommendation
• TOEFL/IELTS, if required
• Resume
• GRE

M.A. in Economics

This program requires students to receive a credit of 31 points by completing 8 core subjects and other electives. Students will also have to complete a research paper at the end of their third semester. The point distribution is as follows

• 22 points for Core Courses
• 9 points for Electives

Ph.D. in Economics at Columbia University

The Ph.D. program offered by Columbia University offers students the opportunity of earning their M.A and M.Phil. degrees within the duration of the course. Students who enrolled in this course will have to work on workshops dealing with macro/monetary economics, econometrics, labor/applied microeconomics, international economics, industrial organization, etc. which helps them develop their own research. The tuition fee for Doctoral Programs is estimated to be $24,512 per semester for a residence unit with 20 points of below. An overall of 6 residence units are required to complete a Ph.D. program including M.A. and M.Phil.

Application Requirements

Students are required to submit the following documents in order to apply for the Ph.D. program in Columbia University.

• Transcript containing information regarding their courses and grades from post-secondary school.
• State of Purpose.
• 3 Letters of Recommendation.
• TOEFL or IELTS, if required.
• Resume.
• Writing Sample of at least 40 pages.
• GRE.