Credit Guide for Economics

The detailed requirements to complete the economics major can be found on the program's website. Students who major in economics can declare a concentration in finance, but are not required to do so. Students may also choose to have a second major or a minor from a different department, but students who major in economics cannot major or minor in business or finance. Popular minors for economics majors include communication, computer science, data science, history, international relations, legal studies, mathematics, politics, psychology, and public policy. 

This document is a resource that offers guidance about appropriate preparation for a successful transition to Lake Forest College for those students intending to major in economics. The first section describes the general requirements and framework for satisfying the major requirements in a timely manner. The second section specifically evaluates classes offered at several nearby community colleges and indicates which classes will count toward the department’s graduation requirements. Transfer advisors, Admissions, and the Registrar’s Office can use this guide to credit students for these classes and to acknowledge prerequisites for higher level classes being satisfied as indicated by the mapping. For courses not listed in the mapping, authorization by the Department Chair is required to count the class toward a major or minor requirement.

General Preparation for Transfer Students

Transfer students will need some prior preparation if they expect to graduate on time.  Ideally, students will have completed seven of the required courses for their major before the beginning of their junior year. Transfer students intending to major in economics, however, must have at least three of the required classes completed before the start of their junior year in order to graduate in two years. Students with this level of preparation should be able to complete the major and participate in an internship, if desired. Internships are highly recommended, but are not required and do not replace courses required to complete the major. 

Students transferring to Lake Forest College who intend to major in economics have usually taken at least three of the following classes: 

  • Introduction to macroeconomics and introduction to microeconomics to satisfy ECON 110 Principles of Economics
  • A statistics class to satisfy ECON 130 Applied Statistics
  • A math class to satisfy Math 110 Calculus

Community College Transfer Guide

College of DuPage County Transfer Guide
College of DuPage County Class Lake Forest College Class
MATH 2134 Calculus for Business and Social Sciences
OR
MATH 2231 Calculus and Analytic Geometry I
MATH 110 Calculus
MATH 1533 Finite Mathematics MATH 160 Math Methods with Applications 
ECO 2201 Macroeconomics and the Global Economy
AND
ECO 2202 Microeconomics and the Global Economy
ECON 110 Principles of Economics
MATH 1635 Statistics ECON 130 Applied Statistics
ACCOU 1140 Financial Accounting BUSN 230 Financial Accounting
BUSIN 2210 Principles of Finance FIN 210 Financial Management
ECO 2210 Money and Banking
OR
ECO 2220 Comparative Economic Systems

ECON 200-Level Elective
College of Lake County
College of Lake County Class Lake Forest College Class
MTH 145 Calculus and Analytic Geometry I
OR
MTH 224 Calculus for Business and Social Sciences
MATH 110 Calculus
MTH 127 Finite Mathematics MATH 160 Math Methods with Applications
ECO 221 Principles of Macroeconomics
AND
ECO 222 Principles of Microeconomics

ECON 110 Principles of Economics
MTH 222 Business Statistics ECON 130 Applied Statistics
ACC 121 Financial Accounting BUSN 230 Financial Accounting
ECO 223 Money and Banking
OR
ECO 224 Public Finance
OR
ECO 225 Comparative Economic Systems
ECON 200-Level Elective
Elgin Community College
Elgin Community College Class Lake Forest College Class
MTH 126 Calculus for Business/Social Science MATH 110 Calculus
MTH 125 Finite Math for Business & Management MATH 160 Math Methods with Applications 
ECO 201 Microeconomics
AND
ECO 202 Macroeconomics
ECON 110 Principles of Economics
BUS 140 Business Statistics ECON 130 Applied Statistics
ACC 200 Financial Accounting BUSN 230 Financial Accounting

Harper College
Harper College Class Lake Forest College Class
MTH 134 Calculus for Social Scientists
OR
MTH 200 Calculus and Analytic Geometry I
MATH 110 Calculus
MTH 124 Finite Math MATH 160 Math Methods with Applications 
ECO 211 Microeconomics
AND
ECO 212 Macroeconomics
ECON 110 Principles of Economics
MTH 165 Elementary Statistics
OR
MGT 225 Applied General Statistics
ECON 130 Applied Statistics
ACC 101 Introduction to Financial Accounting BUSN 230 Financial Accounting
ECO 210 Money and Banking ECON 200-Level Elective
McHenry County College
McHenry County College Class Lake Forest College Class
MAT 171 Calculus for Business/Social Science
OR
MAT 175 Calculus with Analytic Geometry I
MATH 110 Calculus
ECO 251 Microeconomics
AND
ECO 252 Macroeconomics
ECON 110 Principles of Economics
MAT 220 Statistics ECON 130 Applied Statistics
ACC 151 Financial Accounting BUSN 230 Financial Accounting
Oakton College
Oakton College Class Lake Forest College Class
MAT 180 Calculus for Business and Social Sciences
OR
MAT 250 Calculus I
MATH 110 Calculus
MAT 143 Finite Mathematics MATH 160 Math Methods with Applications
ECO 201 Principles of Macroeconomics
AND
ECO 202 Principles of Microeconomics
ECON 110 Principles of Economics
MAT 190 Business Statistics ECON 130 Applied Statistics
ACC 153 Principles of Financial Accounting BUSN 230 Financial Accounting
Triton College
Triton College Class Lake Forest College Department Credit
Math 131 Calculus & Analytic Geometry MATH 110 Calculus
MAT 124 Finite Mathematics MATH 160 Math Methods with Applications
ECO 102 Macroeconomics
  AND
ECO 103 Microeconomics
ECON 110 Principles of Economics
ECO 170 Statistics for Business and Economics ECON 130 Applied Statistics
ACC 101 Financial Accounting BUSN 230 Financial Accounting
BUS 212 Principles of Finance FIN 210 Financial Management