Politics and economics are deeply interconnected. Political institutions and decision-making impact economic growth, income distribution, and many other aspects of economic life. Both fiscal and monetary policies affect the economy, but these policies are often employed with political considerations in mind and can influence political activity. For example, while the United Nations is often thought of in purely political terms, the Security Council can and does impose sanctions on countries--an example of an economic policy used for political change.

The Economics and Politics major is offered jointly between the Undergraduate Economics Program (UEP) and the Carnegie Mellon Institute for Security and Technology (CMIST). Students are equal members of both academic units and receive advising from both units. The major will appeal to any student interested in the design, evaluation, and political implementation of policy. It will be especially attractive to students considering careers in politics, government agencies, political and business consulting, lobbying, or the law.

The BS in Economics and Politics is an interdisciplinary major. The major will develop the political context and underpinnings of economic policy making. It will explore how political institutions resolve the tradeoffs and disagreements associated with policymaking and how they can facilitate or impede desirable economic outcomes.

CMIST strengths lie in topics such as emerging technology, national security, and grand strategy. Economic policy is one facet of grand strategy, through which governments pursue domestic and international goals. It will enable students to understand economic statecraft from a broad perspective. This major will address key issues such as how multilateral economic institutions such as the IMF and World Bank use economic coercion.  Whether coercion is successful or not depends not only on the levers of power but also on variations in regime structures, alongside complex linkages in the international economy. For example, the viability of the “Euro Zone” depends on whether the political economic agreements necessary to mitigate institutional weaknesses are politically feasible or destined to failure.   In short, international economics affects everything from human rights practices to global compliance with climate change treaties.

Economics and Politics is available as both a primary and an additional major. The requirements are the same for both.

Students must earn a grade of "C" or better in all courses taken in the Department of Economics (73-xxx).

Mathematics (19 units)

Students must complete all of the following courses.

Foundations (36 units)

Students must complete all of the following courses.

Core (63 units)

Students must complete all of the following courses.

Communication (9 units)

Students must complete one course from the following list.

Electives (27 units)

Majors are required to take 27 units (three courses) from the elective lists below.  At least one course (9 units) must be taken from Economics (73-xxx) and at least one course (9 units) must be taken from the Carnegie Mellon Institute for Security and Technoloy (84-xxx).  Students may complete electives through coursework in the Carnegie Mellon University Washington Semester Program (CMU/WSP).

*Denotes courses taught in Washington, DC, through the Carnegie Mellon University Washington Semester Program (CMU/WSP).

CAPSTONE (15-21 units)

Students must complete all of the following courses.

DOUBLE-COUNTING RESTRICTION

A maximum of four courses may double count with another major or minor.