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Financial Economics Certificate Program Prerequisites and Corequisites

Prerequisite FAQs

Northwestern University undergraduate students* who are interested in applying for the Financial Economics Certificate must complete a series of prerequisite and corequisite courses.


Prerequisite courses should be completed by the time applications are due in Winter Quarter.  However, if necessary, one prerequisite course may be taken during Winter quarter of the application year.  Students are encouraged to complete as many corequisites as possible prior to applying and during the application cycle, but many students will continue working on the corequisites during their first year in the program.


Beginning in academic year 2022-23, new prerequisite and corequisite requirements have been implemented for the Financial Economics and Managerial Analytics certificates.  These changes will apply to all students applying to either certificate to begin in Spring 2023.  This change has been implemented to increase accessibility to the program to students from a variety of majors and backgrounds


Students admitted to the Financial Economics Certificate prior to 2022-23 will still be required to complete the corequisite requirements set forth to them in their offer letter.  These requirements are outlined here.



New Financial Economics Requirements

These advanced courses cover four subject areas:


  1. Calculus
  2. Microeconomics


  1. Probability
  2. Econometrics/Statistics 

Download the Complete Prerequisite and Corequisite Checklist (pdf)


Important Course Planning Notes for Prospective Students

Please take the following information into consideration when planning your major/elective courses.  

  • Students cannot earn credit for both ECON 360 Foundations of Corporate Finance Theory and FE 310 Principles of Finance or  for both BUS_INST 304 Corporate Finance and KELLG_FE 310: Principles of Finance


  • Students interested in taking Civ_Env 205: Economics and Finance for Engineers must take the course prior to be admitted to the program.  Students cannot earn credit for Civ_Env 205 if it is taken concurrently with or after KELLG_FE 310: Principles of Finance.

*The program does not accept applications from high school seniors, students attending other universities or other individuals who are not currently undergraduate students at Northwestern University.

Find out more about undergraduate admission at Northwestern University.

Prerequisites and Corequisites for Financial Economics Certificate - Option 1 "New Option"
Requirement 1: Calculus (Prerequisite)
Option 1: Regular Math
MATH 230-1 and
MATH 230-2
Option 2: MENU 290
MATH 290-2 and
MATH 290-3
Option 3: MENU 291 Accelerated
MATH 291-2 and
MATH 291-3
Option 4: ISP students only
MATH 281-1 and
MATH 281-2
Option 5: MMSS students only

MATH 285-2 and

MATH 285-3 

Option 6: McCormick students

MATH 228-1 or 
ES_APPM (Honors)


MATH 228-2 or
ES_APPM (Honors)
Option 7: Data Science Major

MATH 230-1 and

STAT 228-0



Requirement 2: Microeconomics (Prerequisite) [select one]
Requirement 3: Probability (Corequisite)
[select one]

Requirement 4: Econometrics/Statistics (Corequisite)

ECON 310-1*

MMSS 211-1 (MMSS Students Only)

MATH 314-0*

MATH 310-1*

MATH 311-1*

STAT 320-1*

STAT 383-0 (ISP Students Only)

MATH 385-0 (MMSS Students Only)

IEMS 202-0

ELEC_ENG 302-0

EECS 302-0

BMD_ENG 312-0 ^

CHEM_ENG 312-0 ^


Option 1:

ECON 381-1*

Option 2: MMSS students only

MATH 386-1

Option 3: 

 IEMS 303-0^ and
 IEMS 304-0

 Option 4:

 STAT 320-2 and
 IEMS 304-0

 Option 5:

 STAT 320-2 and
 STAT 350-0

 Option 6:

 STAT 383-0 (ISP only) and
 STAT 350-0 or IEMS 304-0

Option 7: Data Science Major Only^^

 STAT 301-1 or 303-1and
 STAT 301-2 or 303-2 and
 STAT 301-3 or 303-3
*ECON 201 and ECON 202 are prerequisites
*MATH 226-0 is a prerequisite or corequisite for these courses.  Please see the course catalog for more information.

^Students who take BMD_ENG 22-0 or CHEM_ENG 312-0 do not need to complete IEMS 303; IEMS 304 is sufficient.

 *Refer to the Economics Department Website FAQ for information about Econ 381-1 prerequisites.

^^Only available to students who are in the Data Science Minor. Students who have not been admitted to the Data Science Minor should not plan to pursue this option, as the minor has limited seats available. 


Q: Do any of the prerequisite courses have their own prerequisites? 
A: In most cases, yes consult the Northwestern Undergraduate Catalog or contact the appropriate academic department.   

Q: Do I have to take all honors classes?
A: Equal consideration is given to students who take honors and non-honors courses. Students may mix and match honors and non-honors courses.

Q: In what school should I take my prerequisite and corequisite classes?
A: Most prerequisite and corequisite courses are offered in both the Weinberg College of Arts & Sciences and McCormick School of Engineering. Students may choose to take courses in either or both schools.

Q: Do I have to complete all prerequisites before I apply during Winter Quarter?
A: Students should complete the prerequisite courses prior to the Winter Quarter of the year in which they apply to the program. One prerequisite course may be taken during Winter quarter if necessary.  This is often ECON 310-1.  In other words, if you are applying to begin in Spring 2023, you would complete your Calculus requirements by Fall 2022 and could choose to take ECON 310-1 in Fall 2022 or Winter 2023.

Q: When do I need to complete the corequisite courses?
A: Students are encouraged to take as many of the corequisite courses as possible prior to applying, but many students will complete their corequisites over the first year of the certificate program. 


Students applying as sophomores should work on corequisite courses during their sophomore year, including during the Winter quarter in which the application is due and the Spring quarter when they take their first Certificate courses.


Students applying as Juniors are strongly encouraged to begin corequisite courses during their sophomore year and complete them by the end of their Junior year.  Students who apply as juniors but have not begun any prerequisites may find it difficult to complete both the corequisites and the certificate courses during their senior year.


All Certificate Program students must complete corequisite courses within one year of starting the program.  Students are also responsible with familiarizing themselves with the Certificate course prerequisites, as some of the courses require that students have completed certain corequisite courses prior to beginning the course.

Certificate Program for Undergraduates
Kellogg School of Management
555 Clark Street, Lower Level
Evanston, IL 60208-2800