Quantitative Economics

The Bachelor of Arts in Quantitative Economics at Tufts University offers students a rigorous and comprehensive education in economic theory, quantitative analysis, and data-driven decision making. Designed for individuals interested in understanding complex economic systems and applying mathematical and statistical methods to solve real-world problems, this program prepares graduates for careers in finance, consulting, government, policy analysis, and academia. The curriculum combines strong foundational courses in microeconomics and macroeconomics with advanced classes in econometrics, statistics, and applied mathematics, ensuring students develop both theoretical understanding and practical skills. Students have opportunities to engage in research projects, internships, and collaborative work that enhance their analytical capabilities and prepare them for the demands of the modern economic landscape. Tufts' strong emphasis on interdisciplinary learning encourages students to integrate knowledge from fields such as political science, computer science, and public policy, broadening their perspective and skill set. The program also emphasizes the importance of ethical considerations and social responsibility in economic analysis, fostering well-rounded graduates who are equipped to contribute thoughtfully to societal issues. Small class sizes and close faculty mentorship provide personalized educational experiences, while access to Tufts’ extensive resources and networks supports students’ professional development. Upon graduation, students will possess a solid foundation in economic theory, advanced quantitative skills, and practical experience, enabling them to analyze data, develop models, and provide strategic insights across various sectors. The Quantitative Economics program at Tufts prepares students not only for immediate employment but also for lifelong learning and leadership in an increasingly data-driven world.

Prerequisite
Principles of Economics (Economics 5) or equivalent. See note above.

Basic Mathematics Courses
Mathematics 32 (formerly Mathematics 11) and Mathematics 34 (formerly Math 12). 
Students can waive all or part of this requirement by showing adequate prior preparation as determined by the Departments of Economics or Mathematics. Students should be aware that Mathematics 39 and 44 can be offered as substitutes for Mathematics 32, 34, and 42.

Core Courses

There are five core courses required for Quantitative Majors.

Students must complete Economics 11 before taking either Economics 16 or 203. One core mathematics course is also required: Mathematics 70 (formerly Math 46) or Math 72. 

Students must complete Economics 11 before taking either Economics 16 or 203. Students in the classes of 2008 and 2009 who have not completed Economics 16 are strongly encouraged to pursue this option when completing their major.
One core mathematics course is also required: Mathematics 70 (formerly Math 46) or Math 72 (formerly Math 54).

Students should be aware that Mathematics 39 (formerly Mathematics 17) and Mathematics 44 may be substituted for Mathematics 32 (formerly Mathematics 11), Math 34, and Math 42. No course offered as a core course can also be used as an elective course. All 100-level economics electives have one or more of these courses as prerequisites.

Elective Courses

Quantitative economics majors must complete four additional upper-level economics courses numbered Economics 20 or above. There are three restrictions on choice. First, at least three of these four courses must be suitable courses at the 100 level or higher. Second, at least one elective course must be open only to students who have completed the relevant quantitative prerequisite course (Economics 16, 18, or 107) or its equivalent.

The third restriction varies depending on the student's graduation year. Beginning with the class of 2019, all majors are required to take at least one upper level seminar class. Upper level seminars are courses that focus on a specialized topic in the field of economics. Because of this specialized focus, all seminars have at least one of the core courses (Economics 11, Economics 16, Economics 12/18, Economics 13, Economics 15/107) as a prerequisite. In addition, seminars are small classes that place an emphasis on class interactions, the writing of papers, and the reading of journal articles. Seminar courses provide alternative ways to have "hands-on" research experience that satisfy the seminar requirement. This experience could be offered by a required research paper. However, courses that ask students to complete a series of short policy briefs, a critical literature review, or a group project that requires substantive research and writing all count as seminars. Courses that satisfy the seminar requirement are listed with an ampersand (&) in the Department's Course Offerings.

Quantitative Economics majors graduating before 2019 must include in their four electives either at least one of the upper level seminar classes described above; or at least one of the 100-level economics courses that are explicitly designated as a "research-paper course," or a senior thesis credit. 

1. Completed Common Application or Coalition Application
2. Completed Tufts Writing Supplement 
3. High School Transcript(s)
4. Senior Grades: All applicants will be required to send their senior grades as part of their application. Students applying Early Decision I should send first quarter or trimester grades no later than the last week in November. Students applying Early Decision II should plan for their first semester or trimester grades to arrive no later than the third week in January. Finally, Regular Decision applicants should submit their first semester or trimester grades by the middle of February. Students studying abroad (where predicted grades are common) should send those if senior grades are not available.
5. Testing:
   • For applicants to the School of Arts and Sciences, the School of Engineering or the Combined Degree Programs with the SMFA at Tufts or the NEC: SAT with two subject tests or ACT. See the standardized test requirements for information about these tests and recommendations regarding which subject tests to take.
   • For applicants to the SMFA at Tufts' BFA program: SAT or ACT. Subject tests are not required for BFA candidates applying to the SMFA at Tufts.
6. TOEFL Scores: Required only for students for whom English is not the first language or who attend a school where English is not the language of instruction.
7. Letters of Recommendation: Tufts requires one letter from a teacher in a junior or senior year major academic course (math, natural science, social science, English, or a foreign language) and one letter from a guidance counselor for all applicants. Candidates for the SMFA at Tufts' BFA or Combined Degree programs are required to submit a letter from their art teacher as well. An additional letter from all other applicants, though not encouraged, may be submitted if the student feels it can add new perspective to his or her application.
8. Extracurricular Activities: In addition to evaluating an academic fit, the admissions committee looks for ways a student may contribute to the community as a whole. They will assess the level and type of involvement in each activity and may ask questions such as: Has the student been a significant contributor or leader? How has the involvement contributed to the school or larger community? Does the student have a special talent in a particular area? We do not expect all students to be team captains, class presidents, or editors-in-chief; rather, we look for meaningful involvement in their school and/or community. The Common Application allows students to list up to ten different activities, but you don't need to fill every space. Some of the most successful applicants are heavily engaged in just a few activities. Keep in mind that the Common Application is your one chance to show your extracurricular engagements: we are not able to accept a supplemental resume of activities.
9. Art Portfolio: Required only for students applying to the Combined Degree BFA/BA or BFA/BS and BFA applicants to the SMFA at Tufts. Submit a 15-20-piece portfolio of recent work, which represents your strengths and interests, via SlideRoom.
10. $75 Application Fee or Fee Waiver - You may have the application fee waived by submitting either i) a written request from your college counselor or school official who can attest that the fee would represent a financial hardship, or ii) a College Board Request for Waiver of the Application Fee form. You may consider the waiver approved unless a member of the Office of Undergraduate Admissions notifies you otherwise. Without an application fee, or an approved fee waiver, we cannot continue to process your application to Tufts University.

The Quantitative Economics program at Tufts University offers a range of financing options to support students throughout their studies. Tuition fees for undergraduate programs vary depending on the year of study and residency status, with typical undergraduate tuition rates around $60,000 per year for Tufts College. Graduate programs, including specialized tracks in Quantitative Economics, have their own fee structures, which are generally comparable to other programs within the university’s School of Arts and Sciences. Tuition is billed on a per-year basis and may increase annually in accordance with university policy.

Tufts University provides several financial aid options to help offset the cost of attendance. Merit-based scholarships are awarded based on academic achievement, leadership, and extracurricular involvement. These scholarships can significantly reduce the financial burden for eligible students. Need-based financial aid is also available for qualified students, which includes grants, work-study opportunities, and loans. The university commits to meeting 100% of demonstrated financial need for admitted students who apply for aid and submit all required documentation by specified deadlines.

In addition to institutional aid, students may be eligible for external scholarships and fellowships offered by government agencies, private organizations, and industry partners. The university’s financial aid office provides resources and guidance to help students identify and apply for these opportunities. Students are encouraged to complete the Free Application for Federal Student Aid (FAFSA) and any other relevant application forms well in advance of deadlines to maximize their potential aid packages.

Tufts University also offers payment plans allowing students to divide tuition payments into manageable installments rather than a lump sum. Furthermore, students enrolled in the program may qualify for research or teaching assistantships, which provide stipends and tuition remission in exchange for academic workload contributions. These positions are competitive and are typically awarded based on academic performance and departmental needs.

For international students enrolled in the Quantitative Economics program, financial support options are similar, though they may have additional requirements or restrictions. International students are encouraged to explore both university-provided aid and external funding sources to finance their education.

Overall, Tufts University strives to make education accessible through a comprehensive financial support system, including scholarships, grants, work opportunities, and flexible payment options. Prospective and current students can consult the university’s financial aid office for personalized guidance and assistance in planning their education financing strategies.

The Quantitative Economics program at Tufts University offers students a rigorous and comprehensive education in economic theory, mathematical methods, and statistical techniques essential for analyzing complex economic issues. Designed for students interested in applying quantitative skills to real-world economic problems, the program emphasizes a strong foundation in calculus, linear algebra, and econometrics, alongside core courses in microeconomics and macroeconomics. Students gain proficiency in data analysis, computational methods, and economic modeling, preparing them for careers in academia, government, finance, consulting, or further graduate study.

Throughout the program, students are encouraged to develop critical thinking and analytical skills, engaging with contemporary economic challenges through a multidisciplinary lens. The curriculum often includes courses in game theory, behavioral economics, and development economics, providing a well-rounded understanding of economic systems and policy implications. Additionally, the program may offer specialized tracks or electives allowing students to focus on fields like financial economics, public policy, or international economics.

Tufts University provides access to state-of-the-art computational resources and encourages research involvement from early in the student experience. Students have opportunities to participate in ongoing faculty research projects, gaining practical experience and fostering a deeper understanding of quantitative methods. The program often emphasizes collaborative work, teamwork, and communication skills necessary for effective problem-solving in professional environments.

The Quantitative Economics program at Tufts is designed to prepare graduates for leadership roles in various sectors, equipping them with the analytical tools needed to interpret data and inform decision-making. The program's strong emphasis on empirical analysis and modeling enables students to evaluate policies, forecast economic trends, and contribute to solutions for economic issues such as inequality, inflation, unemployment, and globalization. Overall, it aims to produce well-rounded economists who can adapt to a rapidly changing economic landscape and contribute meaningfully to their fields.

Graduates of the program typically pursue careers in research institutes, governmental agencies, financial institutions, consulting firms, or continue their education at the graduate level in economics or related fields. Tufts also offers a vibrant academic community with numerous seminars, workshops, and networking opportunities to support student growth and professional development. The combination of rigorous coursework, practical experience, and a collaborative environment makes the Quantitative Economics program at Tufts University a distinguished choice for aspiring economists committed to quantifying and understanding the intricacies of economic systems.