Amy McCormick Diduch, department head

Economics is available as a major (BA or BS) and a minor. Through the lens of economics, students attain an extraordinarily powerful and flexible set of tools. Economics majors develop highly desired skills such as analytical thinking, research, quantitative reasoning, and an understanding of computer technology. The economics department offers an excellent combination of the liberal arts and career preparation.

Requirements for the Bachelor of Arts in Economics

42 semester hours
ECON 101
ECON 102
POLS 100
POLS 111 or 112
ECON 303
ECON 314
INT 222
ECON/POLS 301 or MATH 233
ECON 401
Four electives in economics or related fields (including BUAD 307, MATH 212, MATH 234 or POLS 300). At least two electives must be economics courses.
One Math course at or above MATH 159

Note: Economics majors are strongly advised to take BUAD 208, BUAD 209, INT 251, MATH 211, and MATH 212.

Requirements for the Bachelor of Science in Economics

53–56 semester hours
All of the requirements listed for the BA, plus the following:
MATH 211
MATH 212
MATH 301 or MATH 306
Two 200-level lab science courses

Requirements for the Minor in Economics

18 semester hours
ECON 101
ECON 102
ECON 303 or ECON 314
INT 222
Two of the following: ECON 112, ECON 150, ECON 215, ECON 232, , ECON 253, , ECON 272, ECON 277, ECON 254, ECON 272, ECON/POLS 301, ECON 303, ECON 310 or ECON 314.

Honors Credit

Honor Scholars who are comfortable with calculus may take ECON 101 and/or ECON 102 for Honors credit. Please see Professor Diduch for details.

Civic Engagement Opportunities

Courses provide important tools for analysis of social problems. Courses include issues like root causes and possible responses to poverty, education, health care, the environment, women’s labor market participation, the impact of international trade on workers in developed and developing countries, and immigration. ECON 215, PHIL 140, and SOC 282, among others include service learning components. Relevant internships can be arranged.

Economics Course Descriptions

101 Principles of Microeconomics (3 s.h.) (S, Q)
Economics is the study of scarcity and choice in response to incentives. Students learn how economists analyze choices, how markets determine prices and quantities exchanged, and how individuals and businesses make optimal decisions. Students gain skills in cost-benefit analysis, the process of logical thought behind basic economic models, using graphs as analytical tools, and interpreting articles on markets and decision-making.

102 Principles of International and Macroeconomics (3 s.h.) (I)
Students learn how economists measure economic performance, how national economies function and how to analyze national and international economic government policies. Students learn basic economic theories of international trade and finance and explore controversies surrounding exchange rates. Students learn the advantages and disadvantages of specialization and discuss how trade policy can be seen as beneficial or harmful to development. *Prerequisite: ECON 101.

112 Economic Geography (3 s.h.) (S)
What brings resources and people together to create an opportunity for exchange?  What are the physical, economic, and political influences that affect this decision-making process? This course includes a review of methodologies used in economics and economic geography to analyze the spatial distribution of firms, consumers and cities and patterns of exchange between these groups.  Theories and models of firm and consumer behavior will be examined and compared to actual patterns and clusters of economic activity.

150 Experimental Economics (3 s.h.) (S)
Through highly interactive games and experiments, students participate in market decision-making, bargaining, and auctions, analyze experimental results, and determine whether models predict actual behavior. Students learn models of supply and demand, market structure, public goods, and basic techniques of game theory.

215 Poverty and Inequality in the U.S. (3 s.h.) (D)
This course focuses on methods of defining and examining the extent of income inequality and poverty in the United States and engages in the public policy debates surrounding such issues as welfare reform, discrimination, and labor market difficulties of low-skilled workers. Students gain the critical thinking skills necessary to assess poverty programs and policies.

222 Social Science Statistics (3 s.h.) (Q)
For course description, see INT 222 in the Interdisciplinary Studies listing.

232 Topics in Economic Development (3 s.h.) (I)
This seminar critically examines the goals of economic development, measurements and indicators of progress and growth for less developed countries, and policies directed toward development (including the concept of sustainable development). We discuss progress in achieving the Sustainable Development Goals and policy options for agriculture, education, women’s rights, health care, and international trade. *Prerequisites: ECON 101 and ECON 102.

253 International Trade (3 s.h.) (I, W)
This course examines the importance of, the size of, and the directions in foreign trade within the world economy. Gains from trade, trade theory and policy, and barriers to trade will be studied. Class discussions focus on current issues in world trade. Students complete a series of research papers on the international exchange of one particular commodity. Writing emphasis. *Prerequisites: ECON 101 and ECON 102. ECON 102 may be taken concurrently.

260 Public Policy (3 s.h.)
For course description, see POLS 260 in the Political Science section.

272 Environmental Policy (3 s.h.)
Environmental issues are at the forefront of many policy discussions around the world. Economic theory provides useful and important tools for analyzing and comparing public policy options to global warming, resource use in developing countries, and allocation of scarce water resources. Students learn the tools to recognize and analyze environmental externalities, learn and evaluate the use and effectiveness of cost-benefit analysis and discuss current and potential policy alternatives in both developed and developing countries. Prerequisite: Econ 101.

277 Economics Colloquium (3 s.h.)
This course provides the opportunity for the extensive study of a special topic in which students have expressed particular interest. The topic will change each time the course is offered. In recent years, topics have included social science research on the Internet; economic transition from socialism to capitalism; and environmental policy.

301 Advanced Data Analysis (3 s.h.) (Q)
Applied statistics builds on social science statistics. Students use data, theoretical models, and statistical techniques to explore relationships between variables, use computer graphics and exploratory data analysis to examine economic, social, and financial data. Technical topics include index numbers, forecasting, time series analysis, regression, correlation. Research projects involve data collection, statistical analysis, and interpretation of results. Cross listed as POLS 301. *Prerequisite: INT 222.

303 Intermediate Microeconomic Theory (3 s.h.)
This course presents the analytical methods of consumer choice theory and the theory of the firm, including the use of indifference curves and budget constraints, welfare analysis of perfectly competitive markets, cost minimization, applications of game theory, implications of market structure for profit and output, and the impact of government policies on decisions of consumers and businesses. *Prerequisite: ECON 101.

310 Global Labor Issues (3 s.h.) (I)
This course addresses the concerns of workers on a global scale: how changes in international trade, business practices and national economic policies affect employment, wages, unionization, child labor, and immigration. Students discuss the determinants of labor demand and supply, the benefits and costs of education and job training, and the impact of low wages in developing economies on developed country wages. Cross listed as BUAD 247. *Prerequisites: ECON 101 and ECON 102.

314 International Finance (3 s.h.) (I)
This course examines the finance of international trade and investment and the channels and institutions of world capital flows. Focus will be on models of exchange rate systems, open economy macroeconomic theory, international policy coordination, the roles of the IMF and the World Bank, and the management of international debt. Students follow international macroeconomic and financial events and discuss current policy issues. *Prerequisites: ECON 101 and ECON 102.

320 Economics and Finance of Health Care Systems (3 s.h.)
For course description, see HCA 320 in the Health Care Administration listing.

401 Senior Project (3 s.h.) (M)
The Senior Project requires the economics major to design and implement a major independent research project on a topic of interest to the student. The project draws on a student’s mastery of economic theory and quantitative reasoning and results in two written and oral presentations. The student is expected to discuss an appropriate research topic with economics faculty before the beginning of the course. *Prerequisites: INT 222 and ECON 254 or ECON 303.