Applied Mathematics-Economics

The Applied Mathematics-Economics concentration is designed to reflect the mathematical and statistical nature of modern economic theory and empirical research. This concentration has two tracks. The first is the advanced economics track, which is intended to prepare students for graduate study in economics. The second is the mathematical finance track, which is intended to prepare students for graduate study in finance, or for careers in finance or financial engineering. Both tracks have A.B. degree versions and Sc.B. degree versions, as well as a Professional track option. 

Standard program for the A.B. degree (Advanced Economics track) - through the class of 2015:

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Math Requirements
(a) 1
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 2
2
Select one of the following:1
Introduction to Scientific Computing
Introduction to Scientific Computing and Problem Solving
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
APMA 1650Statistical Inference I1
(b) 1
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Two 1000-level courses from the "mathematical-economics" group, below:2
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
One additional 1000-level economics course.1
Total Credits12
1

No course may be used to simultaneously satisfy (a) and (b).

2

APMA 0330 and APMA 0340 may be substituted with advisor approval.

3

Or ECON 1110 with permission.

Standard program for the Sc.B. degree (Advanced Economics track) - through the class of 2015:

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course requirements:
Applied Mathematics requirements:
(a) 1
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 2
2
Select one of the following:1
Introduction to Scientific Computing
Introduction to Scientific Computing and Problem Solving
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
APMA 1650Statistical Inference I1
(b) 1
Select two of the following:2
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Three 1000-level courses from the "mathematical-economics" group, below:3
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
Two additional 1000-level economics courses.2
Total Credits15
1

No course may be used to simultaneously satisfy (a) and (b).

2

APMA 0330 and APMA 0340 may be substituted with advisor approval.

3

 Or ECON 1110 with permission.

Standard program for the A.B. degree (Mathematical Finance track) - through the class of 2015:

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Requirements:
Applied Mathematics requirements:
(a)
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 1
2
Select one of the following:1
Introduction to Scientific Computing
Introduction to Scientific Computing and Problem Solving
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
APMA 1200Operations Research: Probabilistic Models1
APMA 1650Statistical Inference I1
(b)
Select one of the following:1
Introduction to Numerical Solution of Differential Equations
Methods of Applied Mathematics III, IV
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Monte Carlo Simulation with Applications to Finance (most preferred in this list)
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 21
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Select two 1000-level courses from the "financial economics" group: 32
Financial Econometrics
Investments I
Corporate Finance
Investments II
Data, Statistics, Finance
Financial Institutions
Finance, Regulation, and the Economy: Research
Fixed Income Securities
Corporate Strategy
Corporate Governance and Management
Select one 1000-level course from the "mathematical economics" group: 31
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
Total Credits12
1

APMA 0330 and APMA 0340 may be substituted with advisor approval

2

Or ECON 1110 with permission.

3

No course may be used to simultaneously satisfy the "financial economics" and the "mathematical economics" requirements.

Standard program for the Sc.B. degree (Mathematical Finance track) - through the class of 2015:

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course requirements:
Applied Mathematics requirements:
(a)
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 1
2
Select one of the following:1
Introduction to Scientific Computing
Introduction to Scientific Computing and Problem Solving
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
APMA 1200Operations Research: Probabilistic Models1
APMA 1650Statistical Inference I1
(b)
Select two of the following:2
Introduction to Numerical Solution of Differential Equations
Methods of Applied Mathematics III, IV
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Monte Carlo Simulation with Applications to Finance (most preferred in this list)
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 21
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Select three 1000-level courses from the "financial economics" group: 33
Financial Econometrics
Investments I
Corporate Finance
Investments II
Data, Statistics, Finance
Financial Institutions
Finance, Regulation, and the Economy: Research
Fixed Income Securities
Corporate Strategy
Corporate Governance and Management
Select two 1000-level courses from the "mathematical economics" group: 32
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
Total Credits15
1

APMA 0330 and APMA 0340 may be substituted with advisor approval.

2

Or ECON 1110 with permission.

3

 No course my be used to simultaneously satisfy the "financial economics" and the "mathematical economics" requirements.

Standard Program for the A.B. degree (Advanced Economics track) - class of 2016 and beyond:

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics Requirements
(a) 1
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 2
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
APMA 1650Statistical Inference I1
(b) 1
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Two 1000-level courses from the "mathematical-economics" group: 42
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
One 1000-level course from the "data methods" group: 41
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
One additional 1000-level economics course1
Total Credits13
1

No course may be used to simultaneously satisfy (a) and (b).

2

 APMA 0330 and APMA 0340 may be substituted with advisor approval. 

3

 Or ECON 1110 with permission.

4

  No course may be used to simultaneously satisfy the  "mathematical economics" and the "data methods" requirements.

Standard program for the Sc.B. degree (Advanced Economics track) - class of 2016 and beyond

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics Requirements
(a) 1
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 2
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
APMA 1650Statistical Inference I1
(b) 1
Select two of the following:2
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Three 1000-level courses from the "mathematical-economics" group: 43
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
One 1000-level course from the "data methods" group: 41
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
Two additional 1000-level economics courses2
Total Credits16
1

No course may be used to simultaneously satisfy (a) and (b).

2

APMA 0330 and APMA 0340 may be substituted with advisor approval.

3

 Or ECON 1110 with permission.

4

  No course may be used to simultaneously satisfy the "mathematical economics" and the "data methods" requirements.

Standard program for the A.B. degree (Mathematical Finance track) - class of 2016  and beyond

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics Requirements
(a)
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 1
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
APMA 1200Operations Research: Probabilistic Models1
APMA 1650Statistical Inference I1
(b)
Select one of the following:1
Introduction to Numerical Solution of Differential Equations
Methods of Applied Mathematics III, IV
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Monte Carlo Simulation with Applications to Finance (preferred)
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Select two 1000-level courses from the "financial economics" group: 22
Financial Econometrics
Investments I
Corporate Finance
Investments II
Data, Statistics, Finance
Financial Institutions
Finance, Regulation, and the Economy: Research
Fixed Income Securities
Corporate Strategy
Corporate Governance and Management
Select one 1000-level course from the "mathematical economics" group: 21
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
Select one 1000-level course from the "data methods" group: 21
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
Total Credits13
1

APMA 0330 and APMA 0340 may be substituted with advisor approval.

2

 No course may be used to simultaneously satisfy the "financial economics," the "mathematical economics," or the "data methods" requirements.

3

 Or ECON 1110 with permission.

Standard program for the Sc.B. degree (Mathematical Finance track) - class of 2016 and beyond:

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics requirements:
(a)
APMA 0350
  & APMA 0360
Methods of Applied Mathematics I, II
   and Methods of Applied Mathematics I, II 1
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
APMA 1200Operations Research: Probabilistic Models1
APMA 1650Statistical Inference I1
(b)
Select two of the following:2
Introduction to Numerical Solution of Differential Equations
Methods of Applied Mathematics III, IV
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Monte Carlo Simulation with Applications to Finance (preferred)
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Select three 1000-level courses from the "financial economics" group: 23
Financial Econometrics
Investments I
Corporate Finance
Investments II
Data, Statistics, Finance
Financial Institutions
Finance, Regulation, and the Economy: Research
Fixed Income Securities
Corporate Strategy
Corporate Governance and Management
Select two 1000-level courses from the "mathematical economics" group: 22
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
Select one 1000-level course from the "data methods" group: 21
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
Total Credits16
1

APMA 0330 and APMA 0340 may be substituted with advisor approval.

2

 No course may be used to simultaneously satisfy the "financial economics," the "mathematical economics," or the "data methods" requirements.

3

 Or ECON 1110 with permission.

Honors and Capstone Requirement

Admission to candidacy for honors in the concentration is granted on the following basis: 3.7 GPA for Economics courses, and a 3.5 GPA overall.  To graduate with honors, a student must write an honors thesis in the senior year following the procedures specified by the concentration (see Economics Department website).  Beginning with the class of 2016, students not writing an honors thesis must complete an alternative senior capstone project and obtain the approval of a faculty sponsor.

Professional Track

The requirements for the professional track include all those of the standard track, as well as the following:

Students must complete two two-to-four month full-time professional experiences, doing work that is related to their concentration programs.  Such work is normally done within an industrial organization, but may also be at a university under the supervision of a faculty member. 

On completion of each professional experience, the student must write and upload to ASK a reflective essay about the experience addressing the following prompts, to be approved by the student's concentration advisor:

  • Which courses were put to use in your summer's work?  Which topics, in particular, were important?
  • In retrospect, which courses should you have taken before embarking on your summer experience?  What are the topics from these courses that would have helped you over the summer if you had been more familiar with them?
  • Are there topics you should have been familiar with in preparation for your summer experience, but are not taught at Brown?  What are these topics?
  • What did you learn from the experience that probably could not have been picked up from course work?
  • Is the sort of work you did over the summer something you would like to continue doing once you graduate? Explain.
  • Would you recommend your summer experience to other Brown students? Explain.