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Program Overview
The BS in Applied Economics at the University of Minnesota Twin Cities focuses on practical economic analysis with strong quantitative and policy-oriented training. It’s ideal for students looking to work in government, business, or nonprofit sectors, using data-driven methods to solve real-world problems.
Curriculum Structure
Year 1: Foundations in Economics and Math
Students begin with ECON 1101 (Principles of Microeconomics) and ECON 1102 (Principles of Macroeconomics), along with MATH 1271 (Calculus I), establishing a strong base in economic concepts and mathematical techniques.
Year 2: Intermediate Theory and Econometrics
In year two, students take ECON 3101 (Intermediate Microeconomic Theory) and ECON 3102 (Intermediate Macroeconomic Theory), combined with ECON 4131 (Econometrics), focusing on statistical methods and economic modeling.
Year 3: Advanced Applied Economics and Data Analysis
The third year offers advanced applied courses such as ECON 4411 (Applied Economic Forecasting) and ECON 4412 (Policy Analysis), emphasizing the use of data analytics and forecasting in economic decision-making.
Year 4: Specialization and Capstone Experience
Students select electives aligned with their interests, such as environmental economics or labor markets, and complete a senior capstone project that applies quantitative methods to real economic issues.
Focus Areas:
Applied Microeconomics, Macroeconomics, Econometrics, Policy Analysis, Forecasting
Learning Outcomes:
Graduates develop strong analytical, quantitative, and communication skills, enabling them to interpret data and provide policy-relevant economic insights.
Professional Alignment (Accreditation):
The program is accredited by the Higher Learning Commission, reflecting high standards and strong career preparation.
Reputation (Employability Rankings):
The University of Minnesota’s Applied Economics graduates are highly sought after in public policy, finance, and consulting fields.
The University of Minnesota’s B.S. in Applied Economics is intensely hands-on. With required experiential learning and a curriculum centered around real-world problem-solving, you’ll build skills in data analysis, policy evaluation, and consulting. Students often work on live economic questions through internships, research labs, or field-based courses—making the classroom come alive through practical experience.
Here’s what that looks like in action:
High-Impact Experience Requirement – All students complete a professional internship, research project, or approved service-learning experience.
APEC 3551 (Concept Design & Entrepreneurship) – Work in teams to create economic models and pitch innovative solutions to real problems.
CFANS 3096 & 4096 – Take professional development and internship courses tailored to applied economics.
Undergraduate Research Opportunities Program (UROP) – Apply for funding to conduct your own research with a faculty mentor.
Faculty-Led Study Abroad (1–4 weeks) – Complete intensive, credit-earning experiences in countries like Italy, Thailand, or New Zealand.
Applied Economics Research Labs – Collaborate with peers and faculty on studies in food security, environmental economics, and trade policy.
Diversity & Inclusion Focus – Many projects focus on equity in economic development and public policy, preparing students to lead in diverse communities.
Dedicated Career Services – Get resume help, interview coaching, and direct referrals to industry partners and government agencies.
Graduates from BS in Applied Economics at UMN are equipped for technical and applied roles such as economic forecasters, policy advisors, market analysts, and agricultural economists. Both degrees are housed within the College of Food, Agricultural and Natural Resource Sciences (CFANS), blending economic rigor with real-world application:
Career support: The CFANS Career Services team offers targeted internship support, employer visits, and job search coaching focused on data-driven and policy-related roles.
Graduate employment: Over 90% of students are employed or in graduate school within six months, with starting salaries typically around $60,000–$66,000.
Industry partners: UMN has deep connections with the Federal Reserve Bank of Minneapolis, USDA, and 3M, among others.
Accreditation value: The Applied Economics program is nationally respected, particularly for its focus on agricultural and policy economics.
Outcomes: Graduates thrive in industries like energy, food systems, environmental policy, and economic development.
Further Academic Progression:
UMN prepares students for graduate study in Applied Economics, Public Affairs, Environmental Policy, or Agricultural Economics, offering clear pathways into top-tier master’s and PhD programs, including at UMN itself.
Application Deadlines Regular Decision: February 1, 2026 (No Early Action/Early Decision)SAT/ACT Policy Mandatory: Test-optional for 2026; submit if available Superscoring: Not specified Testing Codes: SAT - 6870; ACT - 2392English Language Proficiency Requirements Tests Accepted: TOEFL, IELTS, Duolingo English Test When Required: For non-native English speakers without 2+ years postsecondary education in English Minimum Scores: TOEFL iBT 79+, IELTS 6.5+, Duolingo 105+Essays Required Common App Essay: 1 essay, up to 650 words Supplemental Essays: NoneLetters of Recommendation Required: None for general admissionInterview Policy Offered: No interviewsAcademic Prerequisites 4 years of English 3 years of Mathematics (Algebra, Geometry, Trigonometry; Calculus recommended) 2 years of Science 2 years of Foreign LanguageEconomist – Analyze economic data and trends to advise government agencies private corporations or consulting firms on policy markets or business strategyInvestment Banking Analyst – Support capital raising mergers and acquisitions and financial transactions by building detailed financial models and conducting valuations at investment banksData Analyst or Data Scientist – Use programming languages like Python R and SQL and statistical techniques to analyze large datasets and provide actionable insights for business or policy decisionsActuary – Combine economics statistics and mathematics to assess and manage financial risks for insurance companies pension funds and financial service firmsManagement Consultant – Advise organizations across industries on operational efficiency market entry and strategic challenges to improve overall performanceFinancial Analyst – Evaluate company financial statements market conditions and investment opportunities to guide corporate finance portfolio management or banking decisionsPolicy Analyst – Research and assess public policies related to economics labor health or education for think tanks NGOs or government agenciesQuantitative Analyst or Econometrician – Apply advanced quantitative methods and econometric models to forecast economic outcomes and guide investment or policy decisionsCertified Public Accountant CPA – Provide auditing tax planning and financial consulting services combine economic understanding with regulatory compliance in accounting firms or corporationsEconomic Researcher – Conduct academic or applied research for universities government bodies like the Federal Reserve or Bureau of Labor Statistics or international organizationsMarketing Analyst – Analyze consumer data and market trends to optimize pricing strategies product launches and promotional campaigns for corporationsFinancial Risk Analyst – Identify and quantify financial risks in banking insurance or corporate finance to develop risk mitigation strategiesInternational Development Specialist – Work on economic development projects focused on poverty reduction trade or policy reform for international agencies like USAID or the World BankFederal Reserve Analyst or Central Banker – Support monetary policy economic research and financial regulation to promote economic stability and growth at regional Federal Reserve Banks or the Board of GovernorsEntrepreneur or Startup Founder – Leverage economic principles to build businesses especially in sectors like fintech healthtech or analytics-driven platforms
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University of Minnesota Twin Cities
