You may be eligible to receive credit for economics study completed outside of the University of Wisconsin-Madison campus. Below are guidelines for receiving transfer credit.
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You may be eligible to receive credit for economics study you completed while in high school. All high school advanced-standing credits should be submitted to the Admissions Office when you are offered admission or sooner. This will assign appropriate course credit to your official UW-Madison record and allow our staff and faculty to place you in the proper level of coursework. For questions about this, please contact the Office of Admissions and Recruitment.
Advanced Placement (AP) Coursework
If you took AP courses in microeconomics or macroeconomics in an accredited high school AP curriculum and earned a test score of at least "4," you may apply to receive credit for either Economics 101, Principles of Microeconomics, Economics 102, Principles of Macroeconomics, or both, depending on which exam(s) you took.
International Baccalaureate (IB) Coursework
If you earned a score of at least "4" on the International Baccalaureate economics exam, you will earn eight (8) credits for introductory economics courses, four (4) credits each for Economics 101, Principles of Microeconomics, and Economics 102, Principles of Macroeconomics.
College Courses Taken While in High School
Economics coursework you completed at an accredited post-secondary institution may be considered for transfer credit. Submit information at the time of your admission to the University of Wisconsin-Madison Office of Admissions and Recruitment along with an official transcript from the institution granting credit. If a course was taken at a University of Wisconsin system school, you may use the Transfer Information System to see how it will transfer to your UW-Madison Transcript.
Credit for Other Courses and Prior Knowledge of Economics
You may also earn credits for other courses by taking the College-Level Examination Program (CLEP) exam. Successful results on the CLEP exam may qualify you for up to three (3) credits of general elective coursework in economics, but it will not exempt you from the introductory microeconomics or macroeconomics courses. Contact the Office of Admissions and Recruitment if you are interested in taking the CLEP exam.
The Office of Admissions will advise you on how credits will transfer from one post-secondary institution to UW-Madison.
Majoring in Economics as a Transfer Student
You are not automatically accepted into the economics program when you first transfer to UW-Madison, even if you have declared the economics major at another college or university. You will need to complete at least two economics courses at UW-Madison and earn a GPA of at least 2.0 for all economics courses taken on campus. Once you have fulfilled this and calculus, visit the undergraduate office to declare the major.
Courses Taken at Other Institutions During Summer
You may be granted transfer credit for courses taken outside of UW-Madison during the summer. Refer to the Course Equivalency Service for up-to-date information and guidelines. Be sure to confirm that any course you take will be given transfer credit before you enroll or pay for it.
Stipulations for Economics Majors Transferring Credits
The Department of Economics requires that a minimum of two Advanced Electives in Economics are completed at UW-Madison. This is separate from the general residency requirement of your degree plan.
If you participate in a UW-affiliated study abroad program, your credits will post to your UW-Madison transcript the same as credits taken on campus, with letter grades. Please see Study Abroad Information and Guidelines for more information.
If you choose to study abroad as part of a program that is not affiliated with UW-Madison, your coursework, credits and grades must be evaluated by the Office of Admissions. You are responsible for initiating and completing this transfer process. There is no guarantee that courses taken in non-UW-Madison study abroad programs will be given credit.
Courses in economics taken abroad from non-UW-Madison programs will transfer following the general guidelines outlined below.
Course with an Exact Equivalent to a UW-Madison Course
If the course has an exact UW-Madison equivalent, you will be given credit for that equivalent course. Please note that an Advanced Elective Economics course completed abroad will not count towards the requirement of two Economics Advanced Electives taken on the UW-Madison campus, even if it is a direct equivalent.
Course without an Exact Equivalent to a UW-Madison Course
Econ 109: Study Abroad Course in Introductory Economics
Introductory level class with no exact UW-Madison equivalent. The course is unlikely to have any prerequisites. Economics 109 does not fulfill any of the requirements of the Economics major. It will provide Social Science credit.
Econ 309: Study Abroad Course in Intermediate Economics
Intermediate level economics courses with no exact UW-Madison equivalent. The course has introductory microeconomics and/or macroeconomics as prerequisites. It will provide credit as an applied elective in Economics.
Econ 409: Study Abroad Course in Advanced Economics
Advanced level economic courses with no exact UW-Madison equivalent. The course has calculus or intermediate microeconomic theory and/or intermediate macroeconomic theory as prerequisites. It will provide credit as an applied elective in Economics.