Undergraduate Economics Program
Carnegie Mellon’s long history of innovative research in economics provides students with the knowledge and experience needed to understand how the economy works today and how it can work better in the future.
The Undergraduate Economics Program at the Tepper School offers a solid foundation built upon analytical rigor, asks data-informed questions about key societal issues, and provides a curriculum in which students are exposed to forefront research by the faculty doing the work. These are the hallmarks of Carnegie Mellon Economics.
Your Journey in Undergraduate Economics
With five Economics majors available at Carnegie Mellon, there is a wide variety of career avenues to explore. In whichever major you choose, research will be an integral part of your experience in and out of the classroom, from start to finish — beginning with your first economics courses and ending with independent research in the Senior Project capstone course or the Senior Honors Program in Economics. In the end, you’ll be prepared to lead, innovate, and stand apart in any field you choose.
“One of the things that stands out about Carnegie Mellon’s economics program is that a lot of courses are offered through the Tepper School. I’ve been able to dabble in all sorts of learning environments and become a well-rounded graduate.”
Ayushi RayUndergraduate Economics, Class of 2023
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Economics Placement Exam
The Tepper School offers an Economics Placement Exam to students wishing to place out of 73-102: Principles of Microeconomics. The placement exam allows students to demonstrate their mastery of introductory microeconomic knowledge which then allows for appropriate placement in economics courses and economics-adjacent courses (e.g., business courses, public policy courses, etc.). The placement exam tests students’ understanding of microeconomic tools, methods, and intuition. It is used to determine the proficiency of students in majors which require introductory microeconomics. The placement exam is solely for assessment purposes and has no bearing on student grades or QPA.
What should I consider before taking the placement exam?
Students do not have to take the Economics placement exam; it is okay if you decide not to do so! Before signing up for the exam, we encourage you to review the learning outcomes in the 73-102 Principles of Microeconomics course to learn more about the content covered in the course and the type of material that will be included in the placement exam. CMU has an excellent resource called the syllabus registry where faculty link the course syllabi each semester. A syllabus (or if you have more than one, syllabi) outlines the learning outcomes, class policies, office hour information, and assignments/exams. It is an important resource for all CMU courses. You can access the syllabus registry on Canvas (you will enter your Andrew ID and password to enter this site). The syllabi are organized by semester. If you scroll down to the most recent fall semester and click Economics, you will find the syllabus for 73-102-1.
If you've taken AP Microeconomics and feel confident in the topics included in the course, you should consider taking the placement exam. Once you receive your score, you can talk with your advisor about your placement. If you do earn a score that allows you to place out of 73-102 but decide after taking the exam that you still want to take the course, you can.
Who is eligible to take the exam?
How do I access the registration form? When does registration close?
Does my performance on pre-university economics work automatically provide me with a 73-102 waiver?
What is a pre-requisite waver?
When and where will the exam be held?
How is placement determined and what does it mean?
Passing the exam is the equivalent of earning a “C” or higher on the exam. Students who pass the placement exam may elect to have a prerequisite waiver for 73-102 placed into their student record (SIO). A prerequisite waiver will enable you to enroll in future courses that require 73-102 as a prerequisite.
Please note that no units are awarded for passing the exam.
Should I/May I enroll in 73-102 if I pass the exam?
Skipping 73-102 is an individual decision that should be made in consultation with one’s academic advisor(s).
The Undergraduate Economics Program encourages students to reflect on the following when making their decision: a) passing the exam is the equivalent of a "C" or higher; it does not imply excellence; b) downstream courses often refer to topics and examples from pre-requisite courses; and c) a goal of 73-102 is to introduce students to the analytical and data-centric CMU way of economic thinking. 73-102: Principles of Microeconomics has greater depth and breadth than high school/AP/IB/A-level economics courses.