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Economics (Econ)
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Bagheri, Biederman, Blackwell, Chen, Flynn, Goenner, Hagen, Mialon, O’Neill (Chair), Owens, and da Silva

Economics is the study of how scarce resources are mobilized to meet the economic goals of individuals, businesses, organizations, governments and societies. The study of Economics is typically divided into two parts: macroeconomics (or aggregate economic analysis) studies economics from a broad-based perspective, including problems and issues such as unemployment, inflation and economic growth; microeconomics studies economics in terms of individual components, including problems and issues such as product pricing, competition, regulation and international trade. Students of Economics can expect to become familiar with key economic concepts and laws which give them an analytical perspective that is unique to this discipline, but is of great importance to individuals and to society.

The mission of the Economics Faculty falls into several important and interdependent areas. The faculty offers a curriculum that reflects the current state of knowledge and skills used by professional economists and that fosters an understanding of the workings of modern economies, whether at regional, national or international levels. The Economics Faculty carries out research objectives, consistent with those reported by the University and the College of Business and Public Administration, by completing research leading to publication in professional journals and other research outlets; and, as needed, by providing service-related and contracted research to the city, region and state. The Economics Faculty provides services to the college, university, community, region, the state and professional organizations. This includes: committee service, provision of appropriate expertise in matters relevant to the economics profession; memberships in civic organizations; memberships in professional organizations as well as other relevant service related activities.

All programs in Economics include the necessary undergraduate economics courses for students who intend to pursue graduate level study. In addition, the major in Business Economics and the major in Economics offer a quantitative track which is recommended for students preparing for graduate study in Economics or Actuarial Science. In addition to the aforementioned undergraduate degrees, the Economics faculty offers a Masters of Science in Applied Economics degree. Please see the graduate section of the catalog for more information.

College of Business and Public Administration

B.B.A. WITH MAJOR IN BANKING AND FINANCIAL ECONOMICS

The Economics Faculty together with other faculty in the College of Business and Public Administration offer a major in Banking and Financial Economics that is intended to prepare students for employment with financial institutions and government. The major is comprised of a comprehensive curriculum that provides a background in basic business, economic theory, the principles and practices of banks and other financial institutions, bank regulation, macroeconomic policy and international finance. Experience has shown the graduates of this program are prepared to immediately function in highly responsible positions in financial institutions and regulatory agencies.

All B.B.A. candidates must fulfill the College of Business and Public Administration degree requirements.

Required 125 credits (36 of which must be numbered 300 or above, and 60 of which must be from a 4-year institution) including:
  I. General Education Requirements (see University GER listing: 39 credit hours).
   
The following are required by CoBPA (12 credit hours)
    Comm 110 Fundamentals of Public Speaking
(3)
    Math 103 College Algebra
(3)
    Math 146* Applied Calculus I
(3)
    Pols 115 American Government I
(3)
    *Math 165, Calculus I, may be substituted for Math 146.
    Also, one of the following as required by CoBPA (3 credit hours)
    Anth 171 Introduction to Anthropology
(3)
    Psyc 111 Introduction to Psychology
(3)
    Soc 110 Introduction to Sociology
(3)
 
II.
College of Business and Public Administration Core Requirements (40 credit hours)
    Acct 200 Elements of Accounting I
(3)
    Acct 201 Elements of Accounting II
(3)
    Acct 315 Business in the Legal Environment
(3)
    Econ 201* Principles of Microeconomics
(3)
    Econ 202* Principles of Macroeconomics
(3)
    Econ 210** Introduction to Business and Economic Statistics
(3)
    Econ 303 Money and Banking
(3)
    ISys 117 Personal Productivity with Information Technology
(1)
    ISys 317 Information Systems in Enterprise
(3)
    Fin 310 Principles of Finance
(3)
    Mgmt 300 Principles of Management
(3)
    Mgmt 301 Operations Management
(3)
    Mgmt 475 Strategic Management
(3)
    Mrkt 305 Marketing Foundations
(3)
   

* 
This course satisfies part of the GER Social Sciences requirement.
**  This course satisfies part of the GER Math, Science, and Technology requirement.
 
III.
Required Major Courses (25 credit hours):
   
Acct 301*
Intermediate Accounting I

(4)
    Econ 305 Principles of Banking
(3)
    Econ 308 Intermediate Microeconomic Theory
(3)
    Econ 309 Intermediate Macroeconomic Theory and Policy
(3)
    Econ 405 Bank Regulation
(3)
    Econ 438 International Money and Finance
(3)
    Fin 340 Intermediate Financial Management
(3)
    Fin 350 Financial Statement Analysis
(3)
   

* 
Banking and Financial Economics majors are exempt from the Acct 218 prerequisite.
 
IV.
Elective Major Courses: Choose at least 9 credit hours from the following:
   
Acct 302
Intermediate Accounting II

(3)
    Econ 338 International Economics
(3)
    Econ 355 Government Regulation of Business
(3)
    Econ 395** Special Topics in Economics
(1-3)
    Econ 397* Cooperative Education
(1-4)
    Econ 409 Current Issues in Macroeconomic Policy
(3)
    Econ 410 Empirical Methods in Economics I
(3)
    Econ 411 Empirical Methods in Economics II
3)
    Econ 414 Managerial Economics
(3)
    Econ 416 Mathematics for Economists
(3)
    Econ 497* Internship
(1-4)
    Fin 321 Real Estate Finance and Investment
(3)
    Fin 324 Real Estate Appraisal
(3)
    Fin 360 Capital Market Financing and Investment Strategies
(3)
    Fin 420 Investment Analysis and Portfolio Management
(3)
    Fin 460 Management of Financial Institutions
(3)
    Fin 491** Senior Topics in Finance
(1-3)
   

* 
No more than 4 hours of electives from Econ 397 and 497 may count toward the elective major courses.  
**  Approval of the department required.


B.B.A. WITH MAJOR IN BUSINESS ECONOMICS

The major in Business Economics is offered through the College of Business and Public Administration. This program emphasizes the business firm — integrating economics with related areas in marketing, management, accounting, finance, and quantitative analysis. Students who complete a major in Business Economics possess a comprehensive background in the basic foundations of a business as well as the analytical skills in economics increasingly required to be successful in the business world at local, regional, national and international levels.All B.B.A. candidates must fulfill the College of Business and Public Administration degree requirements.

All B.B.A. candidates must fulfill the College of Business and Public Administration degree requirements.

Required 125 credit hours (36 of which must be numbered 300 or above, and 60 of which must be from a 4-year institution) including:
 
I.
General Education Requirements (see University GER listing: 39 credit hours).
   
The following are required by CoBPA (12 credit hours)
    Comm 110 Fundamentals of Public Speaking
(3)
    Math 103 College Algebra
(3)
    Math 146* Applied Calculus I
(3)
    Pols 115 American Government I
(3)
   
*Math 165, Calculus I, may be substituted for Math 146.
   
Also, one of the following as required by CoBPA (3 credit hours)
    Anth 171 Cultural Anthropology
(3)
    Psyc 111 Introduction to Psychology
(3)
    Soc 110 Introduction to Sociology
(3)
 
II.
College of Business and Public Administration Core Requirements (40 credit hours):
   
Acct 200
Elements of Accounting I

(3)
    Acct 201 Elements of Accounting II
(3)
    Acct 315 Business in the Legal Environment
(3)
    Econ 201* Principles of Microeconomics
(3)
    Econ 202* Principles of Macroeconomics
(3)
    Econ 210** Intro to Business and Economic Statistics
(3)
    Econ 303 Money and Banking
(3)
    ISys 117 Personal Productivity with Information Technology
(1)
    ISys 317 Information Systems in Enterprise
(3)
    Fin 310 Principles of Finance
(3)
    Mgmt 300 Principles of Management
(3)
    Mgmt 301 Operations Management
(3)
    Mgmt 475 Strategic Management
(3)
    Mrkt 305 Marketing Foundations
(3)
   

* 
This course satisfies part of the GER Social Sciences requirement. 
**  This course satisfies part of the GER Math, Science, and Technology requirement.
 
III.
Required Major Courses (15 credit hours):
   
Econ 308
Intermediate Microeconomic Theory

(3)
    Econ 309 Intermediate Macroeconomic Theory & Policy
(3)
    Econ 338 International Economics
(3)
    Econ 410 Empirical Methods in Economics I
(3)
    Econ 414 Managerial Economics
(3)
 
IV.
Elective Major Courses: Choose from either Option A, Option B, or a 12 credit hour combination from Options A and B below.
   
Option A - Choose at least 12 credit hours from the following:
    Econ 305 Principles of Banking
(3)
    Econ 324 Public Finance
(3)
    Econ 330 Business and Economic History
(3)
    Econ 341 Labor Economics and Labor Relations
(3)
    Econ 355 Government Regulation of Business
(3)
    Econ 380 Global Economic Development
(3)
    Econ 395 Special Topics in Economics
(1-3)
    Econ 397* Cooperative Education
(1-4)
    Econ 400 History of Economic Thought
(3)
    Econ 405 Bank Regulation
(3)
    Econ 409 Current Issues in Macroeconomic Policy
(3)
    Econ 411 Empirical Methods in Economics II
(3)
    Econ 416 Mathematics for Economists
(3)
    Econ 438 International Money and Finance
(3)
    Econ 489 Senior Honors Thesis
(1-8)
    Econ 495* Readings in Economics
(1-3)
    Econ 496* Research in Economics
(1-3)
    Econ 497* Internship
(1-4)
    Econ 575 Adv ST: Health Economics
(3)
   

* 
No more than 6 credit hours of electives from Econ 397, 495, 496, and 497 may count toward the elective major courses.
   
Option B (Quantitative Option)* - Choose 12 credit hours from the following:
    Econ 411 Empirical Methods in Economics II
(3)
    Econ 416 Mathematics for Economists
(3)
    Math 165 Calculus I
(4)
    Math 166 Calculus II
(4)
    Math 265 Calculus III
(4)
    Math 266 Elementary Differential Equations
(3)
    Math 327 Applied Linear Algebra
(3)
    Math 465 Operations Research
(3)
   

* 
Students seeking to prepare for graduate school in Economics are advised to choose Option B.


B.A. WITH MAJOR IN ECONOMICS

The major in Economics provides a critical examination of how the economic system works in the United States and throughout the world. The introductory courses are surveys of economic problems, policies, and theory; the required courses in micro theory and macro theory give a deeper analytical foundation. Electives permit further study in a wide range of fields, including international trade and finance, public sector economics, economic development, economic history, capital theory and finance, labor economics, income distribution, political economy, financial markets, and public policy analysis. The major in Economics provides a general background that is useful to those planning careers in law, government service, or business, as well as those planning careers as professional economists. Professional economists work as college professors, as researchers for government agencies, in businesses and consulting firms, and as administrators and managers in a wide range of fields.

Required 125 credits (36 of which must be numbered 300 or above and 60 of which must be from a 4-year institution) including:
 
I.
General Education Requirements (see University GER listing: 39 credit hours)
 
II.
Required Major Courses (24 credit hours):
   
Econ 201*
Principles of Microeconomics

(3)
    Econ 202* Principles of Macroeconomics
(3)
    Econ 210** Introduction to Business & Economic Statistics
(3)
    Econ 303 Money and Banking
(3)
    Econ 308 Intermediate Microeconomic Theory
(3)
    Econ 309 Intermediate Macroeconomic Theory & Policy
(3)
    Econ 338 International Economics
(3)
    Econ 410 Empirical Methods in Economics I
(3)
   

* 
This course satisfies part of the GER Social Sciences requirement. 
**  This course satisfies part of the GER Math, Science, and Technology requirement.
 
III.
Elective Major Courses: Choose from either Option A, Option B, or a 12 credit hour combination from Options A and B below.
   
Option A - Choose at least 12 credit hours from the following:
    Econ 305 Principles of Banking
(3)
    Econ 324 Public Finance
(3)
    Econ 330 Business and Economic History
(3)
    Econ 341 Labor Economics and Labor Relations
(3)
    Econ 355 Government Regulation of Business
(3)
    Econ 380 Global Economic Development
(3)
    Econ 395 Special Topics in Economics
(1-3)
    Econ 397* Cooperative Education
(1-4)
    Econ 400 History of Economic Thought
(3)
    Econ 405 Bank Regulation
(3)
    Econ 409 Current Issues in Macroeconomic Policy
(3)
    Econ 411 Empirical Methods in Economics II
(3)
    Econ 414 Managerial Economics
(3)
    Econ 416 Mathematics for Economists
(3)
    Econ 438 International Money and Finance
(3)
    Econ 489 Senior Honors Thesis
(1-8)
    Econ 495* Readings in Economics
(1-3)
    Econ 496* Research in Economics
(1-3)
    Econ 497* Internship
(1-4)
    Econ 575 Adv ST: Health Economics
(3)
   

* 
No more than 6 credit hours of electives from Econ 397, 495, 496, and 497 may count toward the elective major courses.
   
Option B (Quantitative Option)* - Choose 12 credit hours from the following:
    Econ 411 Empirical Methods in Economics II
(3)
    Econ 416 Mathematics for Economists
(3)
    Math 165 Calculus I
(4)
    Math 166 Calculus II
(4)
    Math 265 Calculus III
(4)
    Math 266 Elementary Differential Equations
(3)
    Math 327 Applied Linear Algebra
(3)
    Math 465 Operations Research
(3)
   

* 
Students seeking to prepare for graduate school in Economics are advised to choose Option B.


MINOR IN ECONOMICS

Students who are interested in obtaining a basic background in Economics to complement their chosen major course of study may elect a minor in Economics offered through the College of Arts and Sciences.

Required courses (20 credit hours):
    Econ 201 Principles of Microeconomics
(3)
    Econ 202 Principles of Macroeconomics
(3)
    Econ 303 Money and Banking
(3)
    Econ 308 Intermediate Microeconomic Theory
(3)