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 1650 | Statistical Inference I | 1 |
| (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 | ||
| Analysis: Functions of One Variable | ||
| Economics Requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) 3 | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Two 1000-level courses from the "mathematical-economics" group, below: | 2 | |
| Welfare Economics | ||
| 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 Credits | 12 | |
| 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 1650 | Statistical Inference I | 1 |
| (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 | ||
| Analysis: Functions of One Variable | ||
| Economics requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) 3 | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Three 1000-level courses from the "mathematical-economics" group, below: | 3 | |
| Welfare Economics | ||
| 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 Credits | 15 | |
| 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 1200 | Operations Research: Probabilistic Models | 1 |
| APMA 1650 | Statistical Inference I | 1 |
| (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) | ||
| Analysis: Functions of One Variable | ||
| Economics Requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) 2 | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Select two 1000-level courses from the "financial economics" group: 3 | 2 | |
| 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: 3 | 1 | |
| Welfare Economics | ||
| 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 Credits | 12 | |
| 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 1200 | Operations Research: Probabilistic Models | 1 |
| APMA 1650 | Statistical Inference I | 1 |
| (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) | ||
| Analysis: Functions of One Variable | ||
| Economics requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) 2 | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Select three 1000-level courses from the "financial economics" group: 3 | 3 | |
| 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: 3 | 2 | |
| Welfare Economics | ||
| 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 Credits | 15 | |
| 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 1650 | Statistical Inference I | 1 |
| (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 | ||
| Analysis: Functions of One Variable | ||
| Economics Requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) Or ECON 1110 with permission. | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Two 1000-level courses from the "mathematical-economics" group: | 2 | |
| Welfare Economics | ||
| 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: | 1 | |
| Economics of Education: Research | ||
| Labor Economics | ||
| Health Economics | ||
| Research Methods for Economists | ||
| 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 course | 1 | |
| Total Credits | 13 | |
| 1 | No course may be used to simultaneously satisfy (a) and (b). |
| 2 | APMA 0330 and APMA 0340 may be substituted with advisor approval. |
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 1650 | Statistical Inference I | 1 |
| (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 | ||
| Analysis: Functions of One Variable | ||
| Economics Requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) Or ECON 1110 with permission | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Three 1000-level courses from the "mathematical-economics" group: | 3 | |
| Welfare Economics | ||
| 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: | 1 | |
| Economics of Education: Research | ||
| Labor Economics | ||
| Health Economics | ||
| Research Methods for Economists | ||
| 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 courses | 2 | |
| Total Credits | 16 | |
| 1 | No course may be used to simultaneously satisfy (a) and (b). |
| 2 | APMA 0330 and APMA 0340 may be substituted with advisor approval. |
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 1200 | Operations Research: Probabilistic Models | 1 |
| APMA 1650 | Statistical Inference I | 1 |
| (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) | ||
| Analysis: Functions of One Variable | ||
| Economics Requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) Or ECON 1110 with permission | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Select two 1000-level courses from the "financial economics" group: 2 | 2 | |
| 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: 2 | 1 | |
| Welfare Economics | ||
| 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: 2 | 1 | |
| Economics of Education: Research | ||
| Labor Economics | ||
| Health Economics | ||
| Research Methods for Economists | ||
| 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 Credits | 13 | |
| 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. |
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 1200 | Operations Research: Probabilistic Models | 1 |
| APMA 1650 | Statistical Inference I | 1 |
| (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) | ||
| Analysis: Functions of One Variable | ||
| Economics Requirements: | ||
| ECON 1130 | Intermediate Microeconomics (Mathematical) Or ECON 1110 with permission | 1 |
| ECON 1210 | Intermediate Macroeconomics | 1 |
| ECON 1630 | Econometrics I | 1 |
| Select three 1000-level courses from the "financial economics" group: 2 | 3 | |
| 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: 2 | 2 | |
| Welfare Economics | ||
| 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: 2 | 1 | |
| Economics of Education: Research | ||
| Labor Economics | ||
| Health Economics | ||
| Research Methods for Economists | ||
| 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 Credits | 16 | |
| 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. |
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.