The Status of Econometrics in the Economics Major: A Survey

Abstract

In this article, the authors describe the place of econometrics in undergraduate economics curricula in all American colleges and universities that offer economics majors as listed in the U.S. News & World Report “Best Colleges 2010” guide (U.S. News & World Report 2009). Data come from online catalogs, departmental Web sites, and online course syllabi. About one-third of the schools require econometrics of all students majoring in economics, about half require it of none, and a sixth require it of some, but not all, economics majors. Among universities with economics PhD programs and liberal arts colleges, almost all those ranked in the top 10 require it. Below the top 10, there is little correlation between ranking and econometrics requirements. Liberal arts econometrics classes are much more likely to require research projects than their counterparts in universities.

Keywords:

• econometrics
• economics major
• undergraduate curriculum

Keywords:

• JEL codes
• A22

Notes

1. The June 2000 and June 2010 issues led off with versions of the previous years’ Nobel Laureate addresses, which are not included in the article totals.

2. In some cases the number of institutions included in each ranking tier is less than expected. In table 2, many National Universities ranked by U.S. News & World Report (2009) do not have economics PhD programs and are therefore excluded from the table. Among Liberal Arts Colleges in table 3, U.S. News & World Report ranks 18 in the range 11 to 25 due to ties (U.S. News & World Report 2009). Yet only 15 are included in the table because three do not offer economics majors. Because of additional ties, only 24 schools are ranked 26 to 50.

3. Of course, at schools with graduate programs in economics, some undergraduates may be able to take a graduate course in econometrics—our tables do not include any graduate courses.