Mathematics with Economics Major
The Mathematics with Economics major (SME) is a Math Department major (with an advisory committee of faculty from both departments). SME was initially developed in recognition of the fact that economics has in recent years become an increasingly mathematical discipline, provides students with a broad set of mathematical concepts and tools and a solid background in economic theory. Economics is basically about resource allocation — how to get the most good out of whatever is available. Resource allocation problems often lend themselves to mathematical solutions, and professional economists and mathematicians often work together. Public policymakers inside and outside the defense establishment, as well as business executives, frequently use quantitative models developed by their staffs in making decisions. Applying mathematics is also part of the job of many naval officers. The SME major focuses on applying mathematics and statistics specifically to economic reasoning and economic problems. The major consists of 14 courses. It is fully interdisciplinary - half of the courses required are taught in the Mathematics Department and half in the Economics Department, and the program is administered by the Math Department (with an committee of faculty from both departments).
Learning OutcomesSME majors will be able to:
- Speak, read and write several mathematical languages
- Understand basic ideas of microeconomic and macroeconomic theory and apply them to economic problems, issues and policies.
- Analyze economic models using appropriate mathematical languages.
- Interpret economic models using appropriate mathematical languages
- Collect and analyze data using appropriate mathematical languages to address empirical economic questions.