Perhaps the best way to understand the world you live in is to understand the economics that drive it. The world is constantly and increasingly confronted with public policy issues that are essentially economic in character. Economic analysis provides a coherent and logical ordered framework for examining these issues and understanding the tradeoffs involved in attempting to solve social and business problems.

The study of economics will enhance your fundamental analytic and quantitative skills. The curriculum strives to not simply just provide a very good undergraduate education for people interested in studying economics but also provides skills to pursue a wide variety of careers in both the public and private sector. It leads naturally to careers in business, law, and in economics research and consulting, as well as provides a solid foundation for students who will pursue an MBA degree. Students who wish to attend graduate school in economics should take courses in mathematics beyond the requirements of the economics program.

The economics faculty at NYU Shanghai offers a rare combination of excellence in research and teaching. Many of the economics courses offer the advantage of a liberal arts college setting, including small class sizes and significant interaction between faculty and students. The economics curriculum at NYU Shanghai is designed to introduce students to these fundamental dynamics of human life and, in doing so, is grounded in three basic pedagogical principles:

  • Undergraduate students must be exposed to the “big ideas” and pressing social issues of our world and given economic frameworks for thinking about them.
  • Meaningful study of economics requires being able to think about problems from local, regional, and global perspectives.
  • Understanding how individuals’ make decisions also requires incorporating insights from neuroscience and psychology.

Effective economic analysis increasingly involves both conducting and effectively communicating the results from quantitative analyses of data using econometric methods.

The economics major requires the completion of 12 courses. Given the sequential nature of the major, students are strongly advised to begin as early as possible. Ideally, six full semesters are required to complete the economics major, as it is impossible for students to complete it in fewer than five semesters. Students must pay close attention to the prerequisites for each course, as they are strictly enforced.

Required for the major are six courses that ensure student proficiency in each of these three core areas: microeconomics, macroeconomics, and econometrics. Thus, all majors are provided a solid foundation of knowledge in understanding the economic way of thinking to analyze both individual and aggregate economic activity. In addition, these courses demonstrate how statistical analysis of economic data is conducted and provides an overview of how to carry out and interpret empirical research. Following the completion of these six core classes, students are free to choose among a host of courses that either further develop their theoretical foundation or demonstrate the application of this knowledge to specific fields of study within economics such as development economics, behavioral economics or public economics. All intermediate and advanced level courses at the 300 and 400 level are taught in small sections and include a great deal of interaction with the professor.

Many of the faculty members are associated with distinguished research institutions. Occasionally there is an opportunity to participate in a faculty research program or to work as a research assistant for an individual faculty member. By being able to study with faculty who are actively engaged in research, students learn not only about the fundamentals of economic theory but also about how such theory is utilized. Students typically find these opportunities via discussion with the professors of their elective classes. Students interested in doing individual research under the supervision of a faculty member can -- with a senior standing and that faculty member's permission -- sign up for a 400 level special topics in economics research course for up to 4 credits.

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Degree Requirements – 2020-2021 Bulletin

= offered in Spring '21 in Shanghai

MATH-SHU 131 Calculus* or MATH-SHU 201 Honors Calculus



Statistics for Business and EconomicsOR

Probability and Statistics* OR

Some other courses in Statistics


Prereq: MATH-SHU 131 Calculus



Principles of Macroeconomics* OR

Economics of Global Business*

ECON-SHU 3 Microeconomics* Prereq: MATH-SHU 131 Calculus or MATH-SHU 201 Honors Calculus
ECON-SHU 10 Intermediate Microeconomics Prereq: ECON-SHU 2 OR ECON-SHU 3 Microeconomics
ECON-SHU 202 Intermediate Macroeconomics* Prereq: ECON-SHU 1 Principles of Macroeconomics OR ECON-SHU 251 Economics of Global Business 
ECON-SHU 301 Econometrics* Prereq: Stats
ECON-SHU 210 Topics in Macroeconomics: Market Design* Prereq: Mirco and Game Theory
ECON-SHU 225 Advanced Economic Theory Prereqs: ECON-SHU 10 Intermediate Microeconomics AND (Math for Econ 1 OR Multivariable Calculus)
ECON-SHU 315 Competitive Analysis* Prereq: Microeconomics
ECON-SHU 416 Game Theory: Advanced Applications* Prereq: ECON-SHU 10 Intermediate Microeconomics
ECONOMICS ELECTIVES: 12 Credits (Choose Three)
BPEP-SHU 238  International Economics Prereqs: Mirco and Macro
BPEP-SHU 9042 Political Economy of East Asia  
ECON-SHU 215 Economic History  
ECON-SHU 216 Introduction to Game Theory  
ECON-SHU 238 Modern Economic Growth: Explore China  
ECON-SHU 306 Economics of Education  

Industrial Organization


Quantitative Methods for The Economics of Gender

Prereqs: ECON-SHU 301 Econometrics AND ECON-SHU 2, 3, or 150 Microeconomics
ECON-SHU 332 Monetary Economics  
ECON-SHU 335 Development Economics Prereq: ECON-SHU 1 Prin of Macroecon AND ECON-SHU 3 Microeconomics AND ECON-SHU 301 Econometrics
ECON-SHU 338 International Economics  
ECON-SHU 342 Behavioral Economics  
ECON-SHU 349 Health Economics  
ECON-SHU 351 Labor Economics  
ECON-SHU 353 Public Economics  
ECON-SHU 355 Law and Economics  
ECON-SHU 360 Experimental Economics Prereq: ECON-SHU 10 Intermediate Microeconomics
ECON-SHU 368 Financial Economics  
ECON-SHU 5 Math for Econ 1: Optimization (2 Credits)  
ECON-SHU 997 Economics Independent Study(2-4 credits)  

Economics Capstone Seminar

Prereqs: Mirco and Macro


Economics Honors Program

Same as BUSF-SHU 3 Business Honors Program

Recommended Spring 2021 Courses

Recommended Courses in Spring 2021 for Freshmen

  1. Writing as Inquiry
  2. Microeconomics
  3. Probability and Statistics or alternate courses
  4. English or Chinese

Recommended courses in Spring 2021 for Sophomores

  1. Principles of Macroeconomics
  2. Econometrics
  3. Economic Elective or General Elective
  4. Chinese or Core



  1. Intermediate Macroeconomics
  2. Econometrics 
  3. Economics Elective or Core 
  4. Chinese or Core
Faculty Mentors

Prof. Jens Hougaard Email: | Profile


Prof. Eric Set Email: | Profile

Minor in Economics - 24 Credits
Required courses: 16 Credits
ECON-SHU 1 Principles of Macroeconomics
ECON-SHU 2 / ECON-SHU 3 Principles of Microeconomics / Microeconomics
BUSF-SHU 1 Statistics for Business and Economics



Intermediate Microeconomics OR

Intermediate Macroeconomics

Two additional 4-credit courses from the Economics elective list
Major Curriculum Worksheet

Econ Major Curriculum Worksheet (AY 2020-21 Academic Bulletin)