Transfer Students

Prospective Students

I. Introduction: Two Key College Rules

Transferring to the University of Virginia and completing a degree in Economics is much easier if you plan in advance and satisfy certain prerequisites before you arrive. Before entering into the details, there are two college rules you must know.

1. If you are a new third-year student, you must formally defer or declare a major early in your first term.
2. You will not be allowed to enter your sixth semester without having declared a major. In the case of rising third year transfer students, this rule creates a very tight deadline. Rising third year transfer students must declare or defer a major immediately upon entering the University. Such students must be in a position to declare a major by the end of their first semester at the University.

II. Economics Prerequisites

The interaction between these University rules and the Economics department’s prerequisites create special challenges for transfer students.

There are 5 headings. Let me discuss how they pertain to transfer students.

1. Complete 2 graded economics courses at the University.

   One implication is that no transfer student, no matter how well prepared, can declare an economics major before they finish their first semester at Virginia. If you are a rising third year transfer student, either the Director of Undergraduate Studies in Economics must sign a deferral of major form, or you must declare or defer in some other major.

   If you are a rising third year transfer student, you need to consider the implications if you fall short of satisfying all the economics declaration prerequisites. You need to select a fallback major and make sure that you will be able to meet the declaration prerequisites of your fallback major by the end of your first semester at Virginia. Most departments have less stringent prerequisites for declaring the major, so qualifying for a fallback major is not difficult. However, depending on what courses you have completed and your choice of a fallback major, it is possible you may need to take a course in that discipline during your first semester to meet its declaration prerequisites.

2. Minimum Econ GPA of 2.3.

   This is based on economics courses taken at the University of Virginia: You can’t count the grades received at your previous institution.

3. A minimum grade of C+ in either introductory micro or intermediate micro.

   If you have received transfer credit for Econ 3010 (intermediate microeconomics), then this doesn’t apply to you, and you can jump to the next section. Most of you, I presume, will have received transfer credit for Econ 2010, which is microeconomic principles. Assuming you have credit for Econ 2010 but not Econ 3010, the most common case, you need to take Econ 3010 or Econ 3110 at Virginia in order to meet this prerequisite. Again, a grade of C+ or above in your micro principles class at your previous institution does not count. Econ 3110 is a more mathematically intense version of Econ 3010. It is only appropriate if you are well versed in calculus and enjoy mathematics. However, if you are such a student, then we encourage you to sign up for Econ 3110. If you haven’t completed any courses in microeconomics, you need to contact the Director of Undergraduate Studies, because it is unclear how this can be consistent with timely completion of the economics major.

4. Calculus

   You must complete two semesters of calculus before declaring the economics major, and if you take Calc II here, you must get a minimum grade of C+. The College of Arts and Sciences offers two introductory calculus sequences: Math 1210-1220 and Math 1310-1320. Either one meets our requirements. On our web page you will see other options in the department of applied math. We accept these courses largely for the convenience of people double majoring in engineering and economics. Unless you are such a double major, you will presumably be taking either Math 1210-1220 or Math 1310-1320. Math 1210-1220 is the easier sequence and the one most often taken, but if you plan to do any further work in mathematics, you need to take Math 1310-1320. We encourage mathematically gifted students to take Math 1310-1320 but do not require it. If you do not arrive with credit for either Math 1210 or Math 1310, the earliest you can possibly declare an economics major is the end of your third year (your first year at Virginia) so at least as an interim measure you must declare another major.

5. Statistics

   Check your transfer credit statement carefully. Some of you will have transfer credit for Stat 112 (a.k.a. Stat 1120) which does NOT meet the economics department statistics prerequisite. If you are a rising third year transfer student who plans to major in economics, and you do not have transfer credit for an acceptable statistics course, it is important that you take statistics in your first semester at the University of Virginia. This is because the economics department requires all majors to complete a second semester of statistics – most commonly by taking Econ 3720 – by the end of their third year. If you do not finish the first semester of statistics in the fall, it will be impossible for you to comply with this requirement. On our requirements page you will see that we accept several different statistics courses. However, the easiest option and the one most people select is Stat 2120. If you are adept at mathematics, considering going to graduate school in economics, taking the finance concentration, or pursuing a double major in economics and engineering, then you need to investigate the more advanced alternatives, such as Stat 3120. For most people, however, Stat 2120 is the best choice. You must achieve a grade of C+ or above.

III. Conclusions: Where does this put you?

1. Determine your current Status

   If you planning your transfer and still have time to complete courses at your original institution, try to satisfy the calculus and statistics prerequisites before you arrive at the University of Virginia. The University has a useful tool, the Transfer of Credit Analyzer that will help you determine what courses at your current school can be used to meet our prerequisites. If the Transfer of Credit Analyzer does not answer your questions, you need to contact Ms. Gloria Gates, Transfer Credit Evaluator for the College of Arts and Sciences, for further assistance. If you are transferring as a rising third year student, and it is impossible for you to complete these requirements at the school in which you are currently enrolled, you should consider attending summer school at the University of Virginia in the summer before your planned matriculation. If you are a rising second year at the time you transfer, you have more time to complete all the prerequisites and such drastic action is not necessary.

2. Third-Year Transfers without Calculus and/or Statistics

   If you arrive at the University of Virginia as a rising third year transfer student and you still need to take calculus and/or statistics in order to meet the economics department prerequisites, you face a struggle to be admitted to the major. Your situation is not hopeless, but you need to consider your fallback major carefully – you may need to use it. Fulfilling three or more prerequisite courses in your first semester at Virginia is difficult under the best circumstances, and it has often proven to be too much for transfer students trying to make the transition to a new university. Therefore, to force all such transfer students to carefully consider alternatives, I refuse to sign deferral forms for students who lack three or more courses. Don’t make too much of a refusal to sign. The “deferral of major” form does exactly one thing – it buys you the fifth semester in which to qualify for a major. My refusing to sign simply means you must meet with my counterpart in your fallback major and determine what must be done to guarantee you can qualify for the fallback major at the end of the fifth semester. You will be able to declare or defer in your fallback major. If you eventually satisfy the declaration prerequisites in economics, you may switch your major to economics or double major.

   What can you do in such a case to eventually qualify for economics? I would suggest taking no more than two of the prerequisite courses in the first semester, in order not to overburden yourself and to limit the downside risk in case the prerequisite courses do not go well. If you take 3 or more prerequisite courses your first semester and then fail to qualify for economics, having “wasted” a large number of courses may put you behind in your fallback major or in meeting college requirements.

   To illustrate the strategy I  recommend, consider a rising third year transfer student who has completed Econ 2010 and 2020, but lacks 2 economics courses taken at Virginia, one statistics course, and one calculus course. I would recommend taking Econ 3010 or 3110 and satisfying the statistics prerequisite in the first semester at Virginia. In the second semester at Virginia, I would recommend taking Econ 3720 (or an approved alternative) and satisfying the calculus prerequisite. Assuming all goes well, one could then declare in Economics at the end of the third year.

   I repeat that it is necessary to take statistics in your first semester, because you need to take the follow-on course (usually, Econ 3720) in your second semester. Econ 3720 is not a prerequisite to declare, but the department does require all majors to complete it by the end of their third year. It is therefore critical that you take the first statistics course – a prerequisite for Econ 3720 – in your first semester. Intermediate micro, Econ 3010 or 3110, is needed to satisfy the microeconomics prerequisite. It is also a prerequisite for many 400 level elective courses, which is why I recommend completing it during the first semester. However, you can take Calc. II instead, if you wish, and finish Econ 3010 in the spring semester. Both Econ 3010/3110 and Econ 3720 must be finished by the end of the third year if you wish to declare then.

Transfer Credit

To receive economics major credit for courses taken away from the University of Virginia, you should obtain permission from the Director of Undergraduate Studies in Economics before taking the course.

After having matriculated at the University, majors and minors still may transfer in ECON 2010 and 2020. Grades received in ECON 2010 at another institution, however, cannot be used to meet the declaration prerequisite, which states you must have a minimum required grade of C+ in ECON 2010 (or ECON 3010 or ECON 3110). Majors may transfer a maximum of 6 credits in economics electives. Economics minors are not allowed to use transfer credit for any classes other than ECON 2010 and ECON 2020.

Once they have matriculated at the University, prospective economics majors and minors should not take calculus II or statistics elsewhere, since transfer credit in these classes cannot be used to fulfill the declaration prerequisites.

No course taken outside the University after matriculation may be counted towards the major in place of the following required courses: ECON 3010 (or ECON 3110), ECON 3020, or ECON 3720 (or STAT 3220 or ECON 4720). This limitation includes direct credit courses, such as Semester at Sea courses. The only exception is students who declared their major before 1 February 2010. For such students, ECON 3720 and ECON 4720 are classified as elective courses, and as such, they may be credited if taken elsewhere.

Subject to the restrictions detailed above, economics electives at any reputable college or university will count towards your major if they clearly parallel elective courses that are offered here with an Economics (ECON) mnemonic. Here are the rules that we normally follow in awarding transfer credit for courses taken elsewhere:

• Courses that have no course prerequisites transfer as economics 2000 level courses;
• Courses that have introductory economics as a prerequisite transfer as economics 3000 level courses;
• Courses that have intermediate economics as a prerequisite transfer as economics 4000 level courses.

NOTE:  Only one course numbered below 3000 can be used to satisfy the economics electives requirement. If you have already taken ECON 2060, a second course that transfers at the ECON 2000 level will not help you to complete your economics major.

When you are ready to apply for transfer credit, please bring the following items to Kathryn Snow at 251 Monroe Hall or to Ron Michener at 253 Monroe Hall.

• For transfer credit for study abroad: a completed green Request for Transfer of Credit form, available at the International Studies Office, 208 Minor Hall. Students must first apply and be accepted to study abroad through the International Studies Office.
• For transfer credit from a U.S. school: a completed PDF document icon Request for Transfer of Credit form (.pdf) (.pdf).
• A catalog description or syllabus for the course, showing the prerequisites and content.
• A current VISTAA report or transcript.

Occasionally, a course offered outside the College of Arts and Sciences covers material similar to that offered by a course in the Economics Department. At the time these rules were drafted, there were two such courses: COMM 3720 (Corporate Finance) and SYS 4044 (Economics of Engineering Systems). The first course is similar to ECON 4350 (Corporate Finance) and the second is similar to ECON 4190 (Industrial Organization). Our policy is to offer economics elective credit for such courses as if they were transfer courses, with the following qualifications.

• Only students in the Commerce school may count Commerce school courses as electives towards an economics major, and then only in cases such as COMM 3720, where a Commerce school course mimics the content of an existing economics elective. Only students in the Engineering school may count Engineering school courses as electives towards an economics major, and then only in cases such as SYS 4044, where the Engineering school course mimics the content of an existing economics elective.
  
• Like other transfer credits, no elective credit towards the major will be awarded unless the student achieves at least a C. Such courses count towards the maximum six hours of elective transfer credits allowed by the department. In addition, the level of transfer credit is set by the Economics Department based on, among other things, the prerequisites of the class. Both COMM 3720 and SYS 4044, for example, require only ECON 2010 as a prerequisite, so we credit these as 300-level electives in the Economics Department.
  
• Students may not receive Economics Department elective credit for both the SYS/COMM version of a course and its analogue in the Economics Department.