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 into 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 tradeoff 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 tradeoffs 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, or applied economics:
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.
This option is designed for students wishing to major in business economics, pre-law, political economy, or any other applied area approved by the students departmental advisor.
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 ECON 201-202 Principles of Macro- and Microeconomics 6 cr ECON g301 Macroeconomic Theory 3 cr ECON g302 Microeconomic Theory 3 cr ECON g306 History of Economic Doctrines 3 cr ECON g384 Quantitative Methods 3 cr ECON g474 Current Economic Problems 3 cr ECON g485 Econometrics 3 cr MATH 170 Calculus I 4 cr MATH 253 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 ECON 201-202 Principles of Macro- and Microeconomics 6 cr ECON g301 Macroeconomic Theory 3 cr ECON g302 Microeconomic Theory 3 cr ECON g474 Current Economic Problems 3 cr ECON g485 Econometrics 3 cr MATH 160 Brief Calculus 4 cr OR MATH 170 Calculus I 4 cr MATH 253 Introduction to Statistics 3 cr Plus 12 additional upper-division economics credits and a minor in an outside field. Economics Minor Required Courses: ECON 201-202 Principle of Macro- and Microeconomics 6 cr ECON g301 Macroeconomic Theory 3 cr ECON g302 Microeconomic Theory 3 cr TOTAL: 12 cr Plus 9 additional upper-division economics credits. All electives shall be selected by the student with prior approval from a Department of Economics faculty member.
The following courses satisfy Goal 11 of the General Education Requirements: ECON 100, ECON 201, ECON 202.
ECON 100 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. NO PREREQ. This course may not be taken if both ECON 201 and 202 have been taken. Satisfies Goal 11 of the General Education Requirements. F, S, Su
ECON 201-202 Principles of Macroeconomics-Principles of Microeconomics 3 credits each. Introduction to economic analysis, including the structure, processes, and problems of modern economic society. NO PREREQ. (ECON 201, macro; ECON 202, micro). Satisfies Goal 11 of the General Education Requirements. F, S, Su
ECON g301 Macroeconomic Theory 3 credits. Techniques of measuring aggregate economic activity including theories of general equilibrium. PREREQ: ECON 201 AND ECON 202. F
ECON g302 Microeconomic Theory 3 credits. Theory of partial equilibrium, including economics of the firm, price theory, competition, monopoly, and linear processes. PREREQ: ECON 201 AND ECON 202. S
ECON 303 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 201 AND 202. D
ECON g306 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 201 AND ECON 202. S
ECON g323 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 201 AND ECON 202. F
ECON g331 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 201 AND ECON 202. F
ECON g334 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 201 AND ECON 202. S
ECON g338 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 201 AND ECON 202. F
ECON g341 Labor Economics 3 credits. History of the American labor movement and the structure and functioning of the labor market. PREREQ: ECON 201 AND ECON 202. D
ECON g351 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 201 AND ECON 202. D
ECON g352 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 is examined. PREREQ: ECON 201 AND ECON 202. D
ECON g384 Quantitative Methods of Economics 3 credits. Introductory study of the application of mathematical methods to the analysis of economic problems. PREREQ: ECON 201 AND ECON 202 OR PERMISSION OF THE INSTRUCTOR . S
ECON 397 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
ECON g411 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 201 AND ECON 202. D
ECON g433 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 201 AND ECON 202. D
ECON g439 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 201 AND ECON 202. D
ECON g472 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 201 AND ECON 202. D
ECON g474 Current Economic Problems 3 credits. Covers the use of reference materials, research sources, and the preparation of written papers and reports on economic topics selected by the students. PREREQ: ECON 201 AND 202. S
ECON g481 Independent Studies 1-3 credits. Individuals will be assigned independent problems for research under the supervision of a departmental faculty member. F, S, Su
ECON g485 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 201-202 AND MATH 253. F
ECON g491-g492 Seminar 1-3 credits. F, S, Su
IDAHO STATE UNIVERSITY