Program Goals
The goal of the Department of Economics is to help students prepare for
a career requiring a bachelor’s degree in economics and for
graduate study. In order for a student to be successful in these
pursuits, the following skills must be obtained:
1. Learn how economists interpret and
apply economic data to understand and predict economic events.
2. Develop an ability to objectively and critically
identify and analyze economic issues.
3. Acquire an understanding of the theory and
technical analysis required for graduate study.
One way or another, economic forces affect every individual, and thus
an understanding of economics helps individuals cope with and adapt to
the rapidly changing global marketplace. Most issues discussed at
local, domestic, and international centers have an economic component.
As our society moves through the twenty-first century, issues such as
the role and the size of the government, to what extent a
nation’s borders remain open to the foreign sector, the trade-off
between the quality of the environment and the quantity of
production, and the distribution of a country’s income between
labor and other resources will continue to dominate the national
agenda. Indeed, the technological advances of the past century, which
could have alleviated problems of scarcity and the need to make
difficult decisions, seem only to have exacerbated the trade-offs
nations face and the competing uses for the world’s limited
resources.
While it is true that to be hired with the title of economist generally
requires graduate study, there are ample employment opportunities for
those who achieve a baccalaureate degree. An economics degree is an
excellent background for careers in banking, real estate, litigation
analysis, planning, government, bond trading, financial analysis,
teaching and a host of other employment opportunities. An economics
background is also excellent preparation for graduate study in
economics, law, business and international relations.
The Economics Department offers programs leading
to Bachelor of Arts and Bachelor of Science degrees. A student
may choose an option in
economic theory,
applied economics, or
law and economics.
Bachelor of Arts or Bachelor of Science in
Economics
The following courses are required in addition to the General Education
Requirements for the B.A. or B.S. degree. Recommended electives for
economics majors are political science, finance, or mathematics
depending upon the student’s specific interests.
Option 1—Economic Theory
This option provides a broad-based background to the many specialties
within the realm of economics. It provides a comprehensive
overview to
those who plan to pursue graduate study in Economics. It is also
appropriate as a terminal degree for those who seek a diverse
background in Economics.
ECON 2201-2202 Principles of Macro- and Microeconomics 6 cr
ECON 3301 Macroeconomic Theory 3 cr
ECON 3302 Microeconomic Theory 3 cr
ECON 3306 History of Economic Doctrines 3 cr
ECON 3384 Mathematics for Economics 3 cr
ECON 4474 Current Economic Problems 3 cr
ECON 4485 Econometrics 3 cr
MATH 1170 Calculus I 4 cr
MATH 1153 Introduction to Statistics 3 cr
Plus 12 additional hours of upper-division courses in economics and 6 additional hours in advisor approved courses.
Option 2—Applied Economics
This option is designed for students wishing to major in business
economics, political economy, or any other applied area approved by the
student’s departmental advisor.
ECON 2201-2202 Principles of Macro- and Microeconomics 6 cr
ECON 3301 Macroeconomic Theory 3 cr
ECON 3302 Microeconomic Theory 3 cr
ECON 4474 Current Economic Problems 3 cr
ECON 4485 Econometrics 3 cr
MATH 1160 Applied Calculus 3 cr
OR
MATH 1170 Calculus I 4 cr
MATH 1153 Introduction to Statistics 3 cr
Plus 12 additional upper-division economics credits* and a minor in an outside field.
* All electives shall be selected by the student with prior approval
from a Department of Economics faculty member.
Option 3—Law and Economics
Economics is widely viewed as a very good major for students planning
on attending law school. This option provides a clearly specific
path
for those planning to pursue a career in the legal profession.Students
choosing this option must obtain a B.A. rather than a B.S., and must
satisfy Goal 8 with PHIL 1103.
Required Courses
ECON 2201 Principles of Macroeconomics 3 cr
ECON 2202 Principles of Microeconomics 3 ce
ECON 3301 Macroeconomic Theory 3 cr
ECON 3302 Microeconomic Theory 3 cr
ECON 4474 Current Economic Problems 3 cr
ECON 4482 Internship* 1-9 cr
ECON 4485 Econometrics 3 cr
ENGL 4401 Advanced Composition 3 cr
PHIL 2201 Introduction to Logic 3 cr
MATH 1160 Applied Calculus 3 cr
OR
MATH 1170 Calculus I 4 cr
MATH 1153 Introduction to Statistics 3 cr
Plus 18 credits chosen from the following:
ANTH 4478 Federal Indian Law 3 cr
ANTH 4479 Tribal Governments 3 cr
ENGL 4410 Writing Internship (max 3 credits) 3 cr
HCA 3375 Health Law and Bioethics 3 cr
MC 4440 Media Law and Ethics 3 cr
MGT 4461 Business Law 3 cr
MGT 4480 Labor and Employment Law 3 cr
PHIL 4450 Ethical Theory 3 cr
POLS 3342 American Legal Systems 3 cr
POLS 3345 Jurisprudence and Legal Systems 3 cr
POLS 4442 Constitutional Law 3 cr
POLS 4443 Constitutional Law 3 cr
PSYC 4463 Clinical Psychology and the Law 3 cr
Plus 12 additional hours of upper division economics courses (excluding additional ECON 4482 credits)
* Internship must be with a member of the legal profession.
Economics Minor
Required Courses:
ECON 2201-2202 Principles of Macro- and Microeconomics 6 cr
ECON 3301 Macroeconomic Theory 3 cr
ECON 3302 Microeconomic Theory 3 cr
Plus 9 additional upper-division economics credits.*
TOTAL: 21 cr
* All electives shall be selected by the student with prior approval
from a Department of Economics faculty member.
Economics Courses
The following courses satisfy Goal 11 of the General Education
Requirements: ECON 1100, ECON 2201, ECON 2202.
ECON 1100 Economic Issues 3 credits. Introduction to current
economic problems as they affect such matters as inflation,
unemployment, discrimination, war, peace, taxes, retirement, welfare,
education, profits, poverty, pollution, and the quality of life. This
course may not be taken if both ECON 2201 and 2202 have been taken.
Satisfies Goal 11 of the General Education Requirements. F, S, Su
ECON 2201 Principles of Macroeconomics 3 credits. Introduction to
economic analysis, including the structure, processes, and
problems of modern economic society. Satisfies Goal
11 of the General Education Requirements. F, S, Su
ECON 2202 Principles of Microeconomics 3 credits. Introduction to
economic analysis, including the structure, processes, and problems of
modern economic society. Satisfies Goal 11 of the General
Education Requirements. F, S, Su
ECON 3301 Macroeconomic Theory 3 credits. Techniques of
measuring aggregate economic activity including theories of general
equilibrium. PREREQ: ECON 2201 and ECON 2202. F
ECON 3302 Microeconomic Theory 3 credits. Theory of partial
equilibrium, including economics of the firm, price theory,
competition, monopoly, and linear processes. PREREQ: ECON 2201 and ECON
2202. S
ECON 3303 Economics of Health Care 3 credits. Study of the
economics of the health care sector. The class will focus on the
allocation of resources to health care, financing, and distribution of
health care services. PREREQ: ECON 2201 and ECON 2202. F
ECON 3306 History of Economic Doctrines 3 credits. Survey of the
development of economic thought from early times to the present,
including doctrines developed by Aristotle, Aquinas, Smith, Malthus,
Ricardo, Marx, Mill, Marshall, Veblen, and Keynes. PREREQ: ECON 2201
and ECON 2202. S
ECON 3323 Economic History 3 credits. The origin and development
of modern economic institutions and the study of economic forces
which have contributed to this development. PREREQ: ECON 2201 and ECON
2202. F
ECON 3331 Money and Banking 3 credits. Principles of money,
credit, and government controls of monetary institutions. History and
organization of the money and banking systems of the United States.
PREREQ: ECON 2201 and ECON 2202. F
ECON 3334 International Economics 3 credits. Study of the
principles and practices of international trade including the
historical and economic background of foreign trade tariffs, foreign
exchange, international finance, international balance of
payments, and contemporary problems and policies in the field of
foreign trade. PREREQ: ECON 2201 and ECON 2202. S
ECON 3338 Public Finance 3 credits. Study of government
revenues, expenditures, and debt management, including an analysis of
the effects of these governmental activities on the American economy.
PREREQ: ECON 2201 and ECON 2202. F
ECON 3341 Labor Economics 3 credits. History of the American
labor movement and the structure and functioning of the labor market.
PREREQ: ECON 2201 and ECON 2202. D
ECON 3351 Business Cycles 3 credits. Introduction to national
income analysis and an analytical presentation of theories of
fluctuations in general economic activity. Study of the general
problems involved in forecasting economic fluctuations. PREREQ: ECON
2201 and ECON 2202. D
ECON 3352 Environmental Economics 3 credits. An introduction to
the economic principles relevant to pollution control, the use of
exhaustible natural resources, and conservation. Federal, state and
local policy and legislation concerning the environment are examined.
PREREQ: ECON 2201 and ECON 2202. S
ECON 3362 Theory of Interest 3 credits. Interest rate concepts
applied to solving time value of money problems such as: valuation of
bonds and annuities (level, arithmetic increasing/decreasing, geometric
increasing/decreasing), loan amortization, capital budgeting, portfolio
returns (dollar-weighted and time-weighted) and portfolio management
(immunization). Introduction to financial instruments, including
derivatives, and the no-arbitrage concept. Suitable for students
pursuing a career in actuary, insurance or risk management. PREREQ:
ECON 2201, ECON 2202; MATH 1160 or MATH 1170; and MATH 1153 or MGT
2216. F
ECON 3384 Mathematics for Economics 3 credits. Introductory
study of mathematical methods that are frequently used in economics.
Includes their application to basic economic theory. PREREQ: ECON 2201
and ECON 2202 or permission of instructor. S
ECON 4404 Game Theory 3 credits. A mathematical modeling
technique used to describe the behavior of interdependent economic
agents. We define Nash equilibria in games with varying information
structures: normal and extensive form games of perfect, imperfect, and
incomplete information. PREREQ: ECON 2201 and ECON 2202. F
ECON 4409 Industrial Organization 3 credits. Industrial
organization extends the theory of the firm to examine firms’
strategic behavior, including methods to differentiate products and
aggressive pricing schemes, and the government’s response to
these activities. PREREQ: ECON 2201 and ECON 2202. D
ECON 4411 Political Economy 3 credits. A critical introduction to
the relationship between economic institutions and social analysis. The
social implications of different views on economic concepts, such as
the division of labor, capital, and value, are investigated from a
classical, neoclassical and an institutional perspective. PREREQ: ECON
2201 and ECON 2202. D
ECON 4433 Economic Development 3 credits. Theories and
principles of economic development, characteristics, and problems of
underdeveloped and developing countries, alternative techniques
and policies for the promotion of growth and development. PREREQ: ECON
2201 and ECON 2202. D
ECON 4439 State and Local Finance 3 credits. Study of
taxation, borrowing and spending by state, city, county and other local
governments. Taxing and spending patterns are evaluated and compared by
states. PREREQ: ECON 2201 and ECON 2202. D
ECON 4472 Comparative Economic Systems 3 credits. Study and
comparison of the theories and practices found in various economic
systems. Includes a study of both the free market and socialist
planning. PREREQ: ECON 2201 and ECON 2202. D
ECON 4474 Senior Seminar 3 credits. Discussion-driven capstone
class that integrates selected topics in economics. Students will be
required to do economic research, and write on and discuss current
economic issues. PREREQ: At least senior standing. S
ECON 4482 Internship 1-9 credits. Directed student internship in
economic organizations and businesses involving supervised work
experience. The internship must be approved by the chair of the
department. May be repeated for up to 9 credits. F, S, Su
ECON 4485 Econometrics 3 credits. The application of statistical
and mathematical methods to the analysis of economic data, with a
purpose of giving empirical content to economic theories and verifying
them or refuting them. PREREQ: ECON 2201, ECON 2202, and MATH 1153. F
ECON 4481 Independent Studies 1-3 credits. Individuals will be
assigned independent problems for research under the supervision of a
departmental faculty member. May be repeated for up to 6 credits. F, S,
Su
ECON 4491 Seminar 1-3 credits. F
ECON 4492 Seminar 1-3 credits. S
ECON 4497 Workshop 1-2 credits. Workshops aimed at the
development and improvement of skills. Does not satisfy requirements
for a major or a minor. May be repeated. Graded S/U. D
