Change in CIP Code | Department of Economics

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).

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: 45.0601Economics, 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: 45.0603Econometrics and Quantitative Econometrics

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.
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 (ECO322) and Empirical Industrial Organization (ECO324). 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.
- STEM Designation: The new CIP code classifies the program under the STEM (Science, Technology, Engineering, and Mathematics) category. For many currently declared Economics majors, you will not notice a change. However, eligible F-1 international students can apply to extend their Post-Completion OPT authorization by 24 months. F-1 international students can check with International Student Services (ISS) regarding their major stated on their I-20 document. For more details on 24-Month STEM OPT extension, visit 24-Month STEM OPT Extension | Visa and Immigration Services
- Enhanced Career Opportunities: The shift highlights the program’s strength in quantitative and econometric training, making our 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.

We believe this change will strengthen our undergraduate program’s reputation and better prepare students for future academic and professional opportunities. If you have any questions about the impact of this change, please feel free to contact the Economics Department Office.

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