# Mathematical Economics

Mathematics and Economics are complementary disciplines. Most branches of modern economics use mathematics and statistics extensively, and some important areas of mathematical research have been motivated by economic problems. Haverford’s area of concentration in mathematical economics enables students in both disciplines to not only gain proficiency in the other, but also to appreciate the ways in which they are related.

Students from a variety of backgrounds and career interests can benefit from completing the Area of Concentration in Mathematical Economics. For economics students who are interested in pursuing graduate study in economics, a strong mathematical background is essential. For mathematics students who are interested in pursuing graduate study in economics, exposure to advanced economics courses can be invaluable. A strong background in applied mathematics is also an asset for students going on to business school or graduate programs in public policy. Further still, many economics-related jobs in government, business and finance require strong quantitative skills. Students interested in these and many other positions are well-served by the Concentration.

### Learning Goals

Students in Area of Concentration in Mathematical Economics will:

- engage in theoretical and empirical analysis of economic problems using formal theoretical and empirical methods.
- develop tools and techniques, including the use of formal arguments, numerical computations, and empirical analysis, to understand the logic, validity and robustness of various economic ideas.
- recognize that most branches of modern economics use mathematics and statistics extensively, and that some important areas of mathematical research have been motivated by economic problems.
- understand the complementarities between the two disciplines to gain proficiency in each, and appreciate the ways in which they are related.

Haverford’s Institutional Learning Goals are available on the President’s website, at http://hav.to/learninggoals.

### Concentration Requirements

Students enrolling in the Area of Concentration in Mathematical Economics must major in either mathematics or economics.

**For students majoring in mathematics, the Concentration requires six courses:**

- ECON H204 (Economic Statistics with Calculus) or MATH H203 (Statistical Methods and Their Applications), or any applied statistics course at a higher level offered by the economics or mathematics department.
- ECON H300 (Intermediate Microeconomics)
- Two electives in economics from the list of approved courses.
- Two electives in mathematics from the list of approved courses. (These courses may also be used to fulfill the requirements of the mathematics major.)

**For students majoring in economics, the Concentration requires six courses: **

- Three required mathematics courses:
- MATH H121 (Multivariable Calculus) or MATH H216 (Advanced Calculus)
- MATH H215 (Linear Algebra)
- MATH H317 (Analysis I)

- One elective in mathematics from the list of approved courses.
- Two electives in economics from the list of approved courses. (These courses may also be used to fulfill the requirements of the economics major.)

### Additional Remarks

The Area of Concentration in Mathematical Economics differs from the minors in mathematics and economics in a specific way: it focuses on the complementarities between the two disciplines; the minors in mathematics and economics are designed to provide a basic foundation in each discipline, but not necessarily an inter-disciplinary orientation.

A student majoring in economics may choose to pursue either the Area of Concentration in Mathematical Economics or a minor in mathematics, but not both. A student majoring in mathematics may choose to pursue either the Area of Concentration in Mathematical Economics or a minor in economics, but not both. A student double-majoring in economics and mathematics may not enroll in the Area of Concentration in Mathematical Economics.

### Approved Electives

The courses listed below can be used to fulfill the mathematics and economics elective requirements. Not all of the courses listed below are offered every year. In some years, courses are offered that are not on these lists but that can be used as electives in the concentration. Students wishing to receive credit for an elective not listed below must obtain approval from the concentration coordinator.

#### Mathematics Electives

Code | Title | Credits |
---|---|---|

MATH/ECON H210 | Linear Optimization and Game Theory | 1.0 |

MATH H204 | Differential Equations | 1.0 |

MATH H218 | Probability | 1.0 |

MATH H222 | Scientific Computing: Continuous Systems | 1.0 |

MATH H318 | Analysis II | 1.0 |

MATH H328 | Mathematical Statistics | 1.0 |

MATH H340 | Analysis of Algorithms | 1.0 |

MATH/ECON H360 | Mathematical Economics | 1.0 |

MATH H396 | Advanced Topics: Probability and Statistics | 1.0 |

MATH H397 | Advanced Topics in Applied Mathematics | 1.0 |

#### Economics Electives

Code | Title | Credits |
---|---|---|

ECON/MATH H210 | Linear Optimization and Game Theory | 1.0 |

ECON H237 | Game Theory in Economics | 1.0 |

ECON H355 | Advanced Microeconomics: Uncertainty | 1.0 |

ECON/MATH H360 | Mathematical Economics | 1.0 |

ECON H374 | Jr Research Seminar: Topics in Industrial Organization | 1.0 |

ECON H377 | Junior Research Seminar: Political Economy | 1.0 |