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Economics Overview & Goals

Economics majors study how individuals and firms make decisions, government actions impact the economy, and globalization affects people. The program has two tracks and a dual major. The Managerial Economics track focuses on how firms behave. The International Economics Track focuses on how the economies of the world differ and how that impacts our economy.

The dual major in Economics and Mathematics focuses on the more mathematical aspects of economics. Graduates have gone on to work for places such as law school, the International Monetary Fund and international charities. The dual major is designed for students planning to study economics in graduate school and provides opportunity for additional applied specialization.

The Managerial Economics track is designed to provide students an understanding on how firms work. Graduates of the program have gone directly to work, law school, and graduate school for an MBA.

Happy young university students studying with books in library. Group of multiracial people in college library.

Areas Of Study

Economics (Major)
Economics and Mathematics (Major)
Economics, International or Quantitative (Minor)


Specialties: Micro, Macro, Financial, International, Industrial Organizational, Demographic or Labor, Natural Resource and Environmental, Public Finance, Econometrics, Business

Data Collection

  • Data Analysis
  • Research Analysis
  • Forecasting
  • Planning
  • Consulting
  • Policy Advising
  • Economic Development

Banking and Finance

  • Financial Analysis
  • Commercial Banking
  • Retail/Consumer Banking
  • Credit Analysis
  • Lending
  • Trust Services
  • Mortgage Loans
  • Branch Management
  • Operations
  • Securities: Sales, Research
  • Market Research Analysis

  • Sales
  • Claims
  • Underwriting
  • Risk Management
  • Asset Management
  • Loss Control
  • Customer Service
  • Actuarial Science


  • Industrial Sales
  • Consumer Product Sales
  • Financial Services Sales
  • Services Sales
  • Advertising Sales
  • Corporate Sales
  • Manufacturer Representation
  • Direct Consumer Sales
  • E-commerce
  • Customer Service
  • Sales Management: District, Regional, and Higher

  • Types of Management Include:
  • Entry-Level/Management-Trainee
  • Supervision of Employees and Operations
  • Project Management
  • Team Management
  • Information Management
  • Operations Management
  • Middle Management
  • Top Management


  • Teaching
  • Research
Meet The Faculty

Lisa Reilly

Associate Professor of Chemistry; The Goulding-Woolery Professorship in Chemistry; Chair; Associate Provost

Richardson Hall, 219
Aaron M. Honsowetz

Assistant Professor of Economics

Richardson Hall, 23


All majors in the program are required to complete the following courses: ECON 162, 163, 222, 301, 302, 304, 350, 376, 476, 495; either ECON 205 or MATH 201; ACCT 202; and MATH 281, 282. Students considering a major in Economics should complete all of the 200-level courses listed above by the end of the sophomore year.

Additionally, students majoring in Economics are required to complete one of two tracks:

Managerial Economics: ACCT 203; ECON 280; BUSI 310, 312, 332, 482; ECON 287 or
BUSI 311; and a Senior Project in Economics.

International Economics: BUSI 371; ECON 260, 360; POLS 243, 244; a Senior Project in Economics; and either four of the following or a semester long study abroad and one of the following: ACCT 203, BUSI 482, ECON 113, POLS 325, one language course (or equivalent proficiency) at the 130 level or above. It is recommended that if a student does study abroad, it should be in the fall of their junior year. There may be an additional language requirement for the study abroad program selected by the student.


This major is designed for students who would like to strengthen their degrees in either mathematics or economics by demonstrating skills in the other discipline. For example, students wishing to attend graduate school in economics or in applied mathematics, but because of any of a number of potential reasons would not be able to complete a double major. Majors will have two advisors, one in each program.

Bachelor of Science Degree: ACCT 202; CPSC 151; BUSI 482; ECON 162, 163, 222, 301, 302, 304, 350, 376, 476; MATH 106, 201, 202, 203, 210, 220, 354, 373, 383, 384, 390, 477; BUSI 311 or PSYC 287; ECON or MATH 495; and a three-credit senior project.


Quantitative Economics track requirements: ECON 162, 163, 222, 301, 302; either ECON 205 or MATH 201; MATH 281 or MATH 383; MATH 282 or MATH 384.

International Economics track requirements: ECON 113. 162, 163, 260, 301, 302, 360; either ECON 205 or MATH 201


ECON 113 Comparative Economic Systems 3 credits
Comparative Economic Systems examines the post World War II performance of the industrialized economies. The course compares the relative economic performance of the market capitalist economies and the former centrally planned socialist economies. Emphasis is on international competition among the industrialized economies. The course concludes with a brief survey of the less developed economies and their prospects for economic modernization.

ECON 162 Principles of Macroeconomics 3 credits
Principles of Macroeconomics introduces the fundamental topics of macroeconomics. The course focuses on the empirical characteristics of the modern American economy and on how those characteristics are measured. Topics covered include aggregate demand and supply analysis, national income determination, fiscal policy, the banking system, and the role of fiscal and monetary policies in controlling and stabilizing unemployment and inflation. Prerequisite: Level II mathematics placement, or successful completion of the Mathematical Understanding Liberal Arts Core (L6). Recommended: Level III mathematics placement, or successful completion of L6.

ECON 163 Principles of Microeconomics 3 credits
Principles of Microeconomics introduces the fundamental principles of microeconomic theory and their application to consumer behavior, profit maximization, labor markets, and public choice. Alternative market structures are explored with formal emphases placed on resource allocation and issues of productivity. Prerequisite: Level II mathematics placement, or successful completion of the Mathematical Understanding Liberal Arts Core (L6). Recommended: Level III mathematics placement, or successful completion of L6.

ECON 205 Quantitative Methods for Business and Economics 3 credits
Quantitative Methods for Business and Economics teaches the mathematical tools from Calculus and Linear Algebra which are used in Economics and Business. Topics include derivatives, multivariate derivatives, and systems of equations applied to problems from Economics and Business. (Not open to students who have taken MATH 201. This course cannot replace MATH 201 as a pre-requisite for MATH 202.) Prerequisites: Level IV mathematics placement, or successful completion of a Level III mathematics course; or permission of the instructor. (This course may be taken for credit as BUSI 205).

ECON 222 Research Methods in Economics 3 credits
Research Methods in Economics introduces elementary research methods in economics. The course includes the use of microcomputers in economics and business. Emphasis is on using spreadsheets to prepare quantitative research projects in economics. The course also covers writing quantitative reports in economics. (This course may be taken for credit as BUSI 222). Prerequisites: ECON 163 and MATH 281 or 383 or PSYC 205. Prerequisite or corequisite: MATH 282 or 384.

ECON 260 Comparative Sustainable Economic Development 3 credits
Comparative Economic Development examines major analytical economics and environmental policy issues facing the “lesser developed” nations of the world. Development is defined and contrasting policies of individual countries that have succeeded or failed are examined. The developmental role of agriculture, export-oriented policies, women, labor markets, multinational corporations, the public sector, the World Bank, and the International Monetary Fund, upon the environment and the economy are also considered.

ECON 280 Managerial Economics 3 credits
Managerial Economics is a study of profit-maximizing managerial decision-making with emphasis on the external environment of the firm. The course introduces students to quantitative techniques of decision-making. Prerequisite: ECON 163.

ECON 287 Organizations and Human Behavior 3 credits
This course is a study of specific aspects of organization culture, such as motivation, conflict, power, and leadership. Focus is on improving the effectiveness of organizations by strengthening human processes. (This course may be taken for credit as PSYC 287 or BUSI 287.)

ECON 301 Intermediate Microeconomics 3 credits
Intermediate microeconomics is a study of consumer behavior, demand analysis, market development, output determination, cost analysis, and pure competition. The course includes exposure to mathematical constructs Prerequisites: ECON 163, and either BUSI/ECON 205 or MATH 201.

ECON 302 Intermediate Macroeconomics 3 credits
Intermediate Macroeconomics is a study of the determinants and the behavior of the national economy, with emphasis on income determination, employment, price levels, and monetary and fiscal policy. Prerequisite: ECON 162.

ECON 304 Advanced Microeconomics 3 credits
Advanced microeconomics is a study of imperfect competition, general equilibrium and welfare economic analysis, game theory, resource pricing, price discrimination, information and time, external costs and benefits, and public goods. This course also includes exposure to appropriate mathematical constructs. Prerequisite: ECON 301.

ECON 350 Business Cycles and Forecasting 3 credits
Business Cycles and Forecasting explores economic fluctuations in the modern American economy against the backdrop of the alternative theories explaining these fluctuations. Students in the course are presented with the quantitative data which describes the cycles and the analytical techniques used to generate economic forecasts. Prerequisites: ECON 302 and MATH 282.

ECON 360 International Trade 3 credits
International trade is an examination of the principles of international trade and finance and their application to the modern world. The concepts emphasized are exchange rates, theories of comparative advantage, economies of scale, tariffs, quotas, commercial policy, capital movements, reciprocal effect of changes in microeconomic and macroeconomic policies, the role of international organizations, and aid to developing countries. Prerequisites: ECON 162 and 163.

ECON 376 Junior Seminar in Economics 1 credit
The Junior Seminar in Economics is designed to prepare the student for Senior Seminar in Economics and Senior Project. In the course students gain command of the writing and research methods characteristic of contemporary economics and their incorporation in written and oral reports in economics. Prerequisites: Junior standing or permission of instructor.

ECON 476 Senior Seminar in Economics 2 credits
The Senior Seminar in Economics is a review of economic analysis with attention to the mathematical concepts and writing in Economics. In the course students improve their command of the research methods characteristic of contemporary economics and their incorporation in the preparation of oral and written reports in economics. Prerequisites: MATH 201 or ECON 205, ECON 376, and senior standing or permission of the instructor.

ECON 487-488 Independent Study 3 credits

ECON 490 Senior Project 2 credits
The Senior Project is open only to students majoring in Economics. Students prepare and present a senior project. The topic for the senior project must be selected during the first semester of the senior year and must be approved by the department chair.

ECON 495 Comprehensive Exams
This course is an administrative placeholder used to record a student’s score on Comprehensive Exams (CR/NCR).

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