Economics

Economics major and Minor

Economics is a social science that studies how people respond to incentives in making choices and how those choices affect outcomes at both the micro and macro scale. A microeconomist studies how a firm or a family chooses to finance a home or new piece of equipment purchase. A macroeconomist studies how a change in interest rates affects economic growth, unemployment, or the balance of trade.

students in class

Economics At a Glance

93

Of students are employed within eight months of graduation.

A Dual Approach

Theory

Economics has come to include a core of widely accepted general theory, techniques for using data to test hypotheses and draw inferences, and skills that are often refined by experience in the application of theory to particular problems.

Practice

Economists apply those theories and techniques to topics often associated with the field, like banking and finance, but the range of topics studied by economists is very broad, including sports, the environment, health, crime, discrimination, and business.

Learn to think analytically and prepare for a diverse and dynamic marketplace.

The Economics curriculum includes a core of general theory and techniques for testing hypotheses and drawing inferences. These theories and techniques are refined by their application to concrete cases in a wide offering of elective courses and co-curricular activities.

Students take Introduction to Microeconomics and Macroeconomics and Calculus.

Students take courses in statistics and electives in various fields of economics: finance, banking, environmental economics/policy, poverty and inequality, law and economics, international economics, economic development, healthcare policy, and more.

Students take advanced elective courses in various fields of economics: finance, international trade, international business, public finance, contracts and organization, and more.

Students take the Senior Seminar, complete the Senior Project, and participate in experiential learning opportunities, including internships.

Learning Outcomes

Students who successfully complete an Economics major are able to:

Explain the basic elements of economic models.

Identify important economic actors, organizations, and institutions and describe their role and impact.

Understand and interpret statistical measures and techniques.

Use the spoken and written word, graphs, and mathematics to present economic phenomena and arguments.

Evaluate multiple economic arguments and multiple sources of evidence.

Propose and model economic hypotheses.

Collect relevant data for use in qualitative and quantitative research methods.

Evaluate economic arguments and policy proposals using empirical methods.

Thomas Manning, Alumnus

Managerial Economics Major/Chinese Minor, Class of 2016; Product Manager, GEICO

“ I quickly learned the real world isn’t always that simple, but my experience abroad and ability to communicate with different types of people landed me my first job in finance. And it ultimately got me to where I am today. ”

Next Steps

Early Decision App Deadline

November 15, 2020

Regular Decision App Deadline

February 15, 2021

For More Info

Stephen Z. Onyeiwu

Professor of Economics & Chair

814-332-3338