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 |
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