Econometrics: Specific techniques for analyzing economic relationships using real-world data, grounded in classical statistics, provides tools for estimating all aspects of economic phenomena, including labor supply, supply and demand, and business cycles. Used to test hypotheses about the world that are developed from economic theory. Econometric estimates can be used to forecast future conditions, aiding individuals, businesses, and governments in making decisions.

Economics Minor Worksheet

Prerequisites for Declaring Econometric Track


We no longer require MATH 225 to be complete prior to applying for this track, but it is preferred and the course will need to be complete for completion of the Minor.



ECON 102
Micro Principles

ECON 202
Econ Stats I

ECON 203
Econ Stats II

ECON ILLINOIS GPA of 2.33 or above

  • At least one ECON course taken at ILLINOIS
  • Specific grades in ECON courses not required
  • AP/IB/Proficiency Credit accepted*
  • Approved substitutions may be used*
  • Transfer courses may be used*

*Only ECON courses at ILLINOIS counted in GPA

MATH 220
or 221

Grade of C or Higher

  • AP/IB/Proficiency Credit accepted
  • MATH 231 (Calculus II) may be used**
  • Transfer courses may be used**

**No other substitutions accepted; C Grade Required

MATH 225
Introductory Matrix Theory

*Recommended prior to application (Required within the curriculum) but not required to apply


Econometrics Track Requirements

MATH Requirements

MATH 220/221 – Calculus 4-5
MATH 225 – Introductory Matrix Theory See substitutions website 2

Core Economics Requirements (12 credit hours)

ECON 102 – Microeconomic Principles


ECON 202 – Economic Statistics I or equivalent (See substitutions website)


ECON 203 – Economic Statistics II


ECON 302 – Intermediate Microeconomic Theory


Econometrics Track (9 credit hours)

ECON 471 – Introduction to Applied Econometrics

Two 400 – Level ECON Econometrics Courses (see below)


Total ECON Hours


(+6-7 MATH hours)


 400-Level Econometrics Courses

The below courses are approved 400-level Courses for this Minor Track. Courses are not available every semester, and there may be limited availability within the courses as economics majors receive first priority to register.

You must be a declared economics minor student in order to take these courses!

ECON 425 Macroeconomic Policy
ECON 437 Game Theory
ECON 451 Program Evaluation in Developing Econ
ECON 460 Financial Economics
ECON 469 Economics of Risk
ECON 471 Intro to Applied Econometrics
ECON 472 Financial Econometrics
ECON 474 Econometrics of Policy Evaluation
ECON 475 Economic Forecasting
*ECON 490/491 Applied Macroeconometrics
*ECON 490/491 Applied Machine Learning
*ECON 490/491 Business Cycles
*ECON 490/491 International Finance
*ECON 490/491 International Macro Forecasting
*ECON 490/491 Macro of Labor Markets
*ECON 490/491 Nonlinear Econometric Models
*ECON 490/491 Numerical Methods: Economics
*ECON 490/491 Predictive Analytics
*ECON 490/491 Topics in Econometrics

*Spring 2022 & previous semesters, courses listed as 490. Fall 2022 & future semesters, courses listed as 491.

Apply to the Economics Minor