Change in CIP Code for the Undergraduate Economics Program

We are pleased to announce a change in the Classification of Instructional Programs (CIP) code for the undergraduate Economics program at Stony Brook University. The program's CIP code has been updated from 45.0601 Economics, General to 45.0603 Econometrics and Quantitative Economics.

• 1. What is a CIP code?

  The CIP code is a classification system used by the U.S. Department of Education to categorize academic programs. It helps track enrollment and graduation statistics and determines eligibility for certain funding opportunities.

  Old CIP Code: 45.0601 Economics, General

  A general program that focuses on the systematic study of the production, conservation, and allocation of resources in conditions of scarcity, together with the organizational frameworks related to these processes. Includes instruction in economic theory, micro- and macroeconomics, comparative economic systems, money and banking systems, international economics, quantitative analytical methods, and applications to specific industries and public policy issues.

  Current CIP Code: 45.0603 Econometrics and Quantitative Economics

  A program that focuses on the systematic study of mathematical and statistical analysis of economic phenomena and problems. Includes instruction in economic statistics, optimization theory, cost/benefit analysis, price theory, economic modeling, and economic forecasting and evaluation.

• 2. Why the change?

  The field of economics has evolved significantly over time, with mathematical and analytical methods becoming increasingly sophisticated. In response, our program has adapted to equip students with stronger data-driven and analytical skills, aligning with both modern economic research and industry demands. This update reflects our growing emphasis on quantitative and econometric methods in the undergraduate curriculum.

  To support this shift, we have enhanced the program's mathematical foundation by increasing the calculus requirement and incorporating statistics and econometrics as core components of the major. Additionally, we have introduced new elective courses with a strong mathematical and analytical focus, including Machine Learning (ECO 322) and Empirical Industrial Organization (ECO 324).

  This enriched, quantitatively rigorous curriculum better reflects the current state of economics as a scientific discipline and more effectively prepares students for careers grounded in economics or advanced studies. The new CIP code accurately represents the focus and depth of our coursework and training.

• 3. What does this mean for students?

  STEM designation: The new CIP code classifies the program under the STEM category. Many currently declared Economics majors will not notice a change. However, eligible F-1 international students may apply to extend their Post-Completion OPT authorization by 24 months. F-1 international students should check with Visa and Immigration Services regarding the major listed on their I-20 document.

  Enhanced career opportunities: The shift highlights the program's strength in quantitative and econometric training, making graduates more competitive for careers in data analysis, finance, consulting, and research.

  Graduate school benefits: Students planning to pursue graduate studies in economics, finance, or related fields may find that the updated classification better aligns with research-intensive and quantitatively rigorous programs.

  For more details, visit 24-Month STEM OPT Extension.

• 4. Does this change the name of my major or degree?

  No. Students will still graduate with a BA in Economics.

• 5. Who will be affected?

  This change applies only to students who graduate after Spring 2025.

We believe this change will strengthen our undergraduate program's reputation and better prepare students for future academic and professional opportunities. If you have questions about the impact of this change, please contact the Department of Economics Undergraduate Office at ugeconomics@stonybrook.edu.