The Economics major is intended to provide students with an understanding of key concepts in Economics, at both the macro and micro levels, and how these concepts can be applied to a wide range of business and policy problems. In addition to major requirements, all students pursuing the BS in Business Administration with a major in Economics complete the Business Core.
Two required courses in the Economics major, Intermediate Price Theory (ECO 3101) and Intermediate Macroeconomics (ECO 3203) build students’ knowledge base of economic theory beyond the level achieved in the Principles courses. The variety of Economics elective courses allows students to tailor their education to their own personal goals. For example, preparation for law school would include courses such as Law and Economics and Economics of Crime; preparation for graduate work in economics would include courses such as Advanced Macroeconomics (ECO 4201) and Mathematical Economics (ECO 4401). Additional elective courses allow students to pursue interests developed in their exposure to the General Education Dimensions, such as International Economics (ECO 3703), Environmental Economics (ECP 3302), and History of Economics Thought (ECO 4303).
The major allows students to prepare themselves for employment in a variety of jobs in both industry and government, as well as for graduate study in fields such as economics, law, political science, and business. Upon completion of the economics major, students will demonstrate the following skills and abilities:
Critical Thinking Skills
Demonstrate critical thinking and analytical abilities, including the ability to engage in inductive, deductive and quantitative reasoning and to construct sound arguments.
Communication Skills
- Create and deliver effective oral presentations
- Develop effective written presentations
- Contribute effectively to group discussions
Content/Discipline Skills:
- Understand and use the tools and techniques addressed in the Business Core
- Use the “vocabulary” of economics
- Understand and use basic economic models of production, consumption, and markets.
- Understand and use basic economic models of a national economy when that economy is both open and closed to international trade
- Recognize the impact of external economic forces on the operation of the firm in domestic and global markets
- Recommend appropriate business strategies for firms in diverse market conditions
To assure that students meet these skill objectives, the economics major requires a minimum of 21 hours of upper level economics courses including 6 hours of required coursework. No more than 3 semester hours of credit from ECO 4905, Independent Study, and/or ECO 4914, independent Research, may be applied to the major.
Required Economics Courses (6 hours)
- ECO 3101 Intermediate Price Theory 3
- ECO 3203 Intermediate Macroeconomics 3
