ECONOMICS

How do people and businesses make decisions? Why does our economy have expansions and recessions? What is government’s role in the economy? What is the best use of natural resources? Is trading with other countries good for the economy? A degree in economics will help you answer these questions and many more!
The Economics faculty within the School of Business is dedicated to the success of our students. With average introductory class sizes of 35 and upper divisional class sizes of 12, students get the opportunity to interact with faculty, enhancing the learning experience.

Advisement within the major is available for many career options, including:
  • Law School
  • Graduate School (Master’s, Doctorate)
  • Small Business Management
  • Public Policy
An economics degree provides excellent preparation for careers in:
  • Business
  • Law
  • Academics
  • Research
  • Government
  • Entrepreneurship

B.B.A. with Major in Business Economics (120 hours)

1. Completion of the B.B.A. Common Requirements – 102 hours

2. ECON 310, 320, and 450 – 9 hours

3. Two ECON electives at the 300- or 400-level – 6 hours

4. One School of Business elective – 3 hours

B.S. or B.A. with Major in Economics (120 hours)

1. General Education Requirements for a Bachelor of Science or Bachelor of Arts, depending on desired degree (see catalog for details)
a) Bachelor of Science will require a minimum of 48 credit hours
b) Bachelor of Arts will require a minimum of 59 credit hours, including a language course through 202

2. ECON 310, 320, 450, and BUS 305 – 12 hours

3. Five additional courses above ECON 203 and 204 – 15 hours

4. MATH 134 and one additional semester of MATH – 6 hours

5. ENG 305 – 3 hours

6. Two approved 12-hour collaterals or one approved 18-hour minor

7. Other electives as needed to fulfill 120 credit hour requirement

Minor in Economics (18 hours)

1. ECON 203, 204, 310, and 320 – 12 hours

2. Two ECON electives – 6 hours

Collateral in Economics (12 hours)

1. ECON 203 and 204 – 6 hours

2. One of ECON 310 or 320 – 3 hours

3. One ECON elective – 3 hours

Course Descriptions

203 - Introduction to Microeconomics

Prerequisite: None
Offered: Fall, Spring, Summer
Credits: 3 hrs.

Introduction to the role of individuals in economic decision-making, the determination of relative prices and output, and problems associated with resource allocation, monopoly, government regulation, and international trade. Freshmen are allowed to take Economics 203 if they have a minimum SAT score of 800 and a projected grade point average of 2.0.

204 - Introduction to Macroeconomics

Prerequisite: None
Offered: Fall, Spring, Summer
Credits: 3 hrs.

Introduction to the operation and behavior of the economy as a whole. Primary focus is the determination of the level of gross domestic product, the inflation rate, and the unemployment rate. Additional topics include interest rates, monetary and fiscal policy, and an introduction to international economics.

300 - Economic History of the United States

Prerequisite: None
Offered: Spring
Credits: 3 hrs. (Cross-listed as HIS 300)

Development of business attitudes, institutions, organizations, and technology from the world of the colonial entrepreneur through stages of specialization and integration to the establishment of our modern industrial economy.

310 - Intermediate Microeconomic Theory

Prerequisite: 203
Offered: Fall
Credits: 3 hrs.

Application of economic analysis as it relates to decisions by individuals and firms under various market structures. Emphasis is placed on developing analytical skills and on applying consumer and producer theory to decisions of individuals, businesses and government.

320 - Intermediate Macroeconomic Theory

Prerequisite: 204
Offered: Spring
Credits: 3 hrs.

Examines the Classical, Keynesian, and ISLM models of the macroeconomy. The use of monetary and fiscal policy to achieve low rates of inflation and unemployment, and an acceptable rate of economic growth are also studied.

321 - Money and Banking

Prerequisite: 204
Offered: Fall
Credits: 3 hrs.

Study of characteristics and functions of money in the modern economy, the Federal Reserve System, and an introduction to financial intermediation, institutions and monetary policy. Emphasis is placed on credit markets, the fractional reserve banking system, and its relationship to financial markets.

323 - Urban and Regional Economics

Prerequisite: 203
Offered: Spring
Credits: 3 hrs.

Study of the growth and development of urban and rural areas of the United States. Topics include industrial, agricultural, and business location; labor migration; urbanization; benefit-cost analysis; and regional objectives and policies.

325 - International Economics

Prerequisite: 203
Offered: Fall
Credits: 3 hrs.

International trade and monetary theory including commercial policy, trade restrictions and
trade blocs, exchange rate determination, and the balance of payments. Emphasis is on applying economic analysis to international events and issues to improve understanding of how the world economy operates.

340 - Environmental and Natural Resources Economics

Prerequisite: 203
Offered: Spring
Credits: 3 hrs.

Examines the relationship between the market system and natural resources. Topics include: economic appraisal of energy policy; resource depletion; economic role of fisheries; pollution control of air, land, and water, regional and global air pollutants; and capital theory.

397 - Special Topics in Economics

Prerequisite: Previous economics course or permission of school
Offered: Fall
Credits: 3 hrs.

In-depth study of an area of interest in economics. May be taken twice for academic credit with departmental approval.

400 - Public Finance

Prerequisite: 203
Offered: Fall
Credits: 3 hrs.

Examines government spending and taxation as they relate to the provision of public goods, the redistribution of income, and the stabilization of the economy.

405 - Development of Economic Thought

Prerequisite: 203, 204
Offered: Spring
Credits: 3 hrs.

Examines the history of economic thought from the Ancient Greeks to John Maynard Keynes, with special emphasis on Adam Smith, Karl Marx, the marginalist revolution, and Alfred Marshall.

410 - Labor Economics

Prerequisite: 203
Offered: Fall
Credits: 3 hrs.

Examines the nature of the labor market and problems dealing with labor groups. Topics include history of the labor movement, union structures, labor law, and collective bargaining.

450 - Senior Seminar in Economics

Prerequisite: 310, 320
Offered: Spring
Credits: 3 hrs.

This course is designed for seniors majoring in Economics and will focus on selected economic issues. Emphasis will be placed on reading, discussion, debate, and preparation of reports and papers on the topics chosen.

497 - Special Studies

Prerequisite: Permission of school
Offered: As needed
Credits: Varies

Open only to juniors or seniors with a grade point average of 3.0 or higher in their major courses. A maximum of three semester hours may be earned. All individual research projects are reviewed by three faculty members from two different disciplines. May be taken for credit (three hours) towards the Honors degree by special arrangement.

Economics Major Flowchart

Quick Facts: Economists

2015 Median Pay

$99,180 per year

$47.68 per hour


Typical Entry-Level Education

Master’s degree

Work Experience in a Related Occupation

None


On-the-job Training

None


Number of Jobs, 2014

21,500