The study of economics stems from the scarcity of resources and the limitless nature of our demands for products and services. Societies must therefore choose the goods and services that will be produced from among the larger range of production possibilities. Economics develops the principles and concepts that follow from this fact of scarcity and applies them to the analysis of various aspects of human activity.
Students interested in careers as economists are encouraged to acquire mathematics skills, take our more quantitative course offerings and pursue advanced work in their chosen subject area through the directed studies option.
All economics majors must take the following required courses:
- Economics I
- Economics II
- Statistics I
- Statistics II
- Microeconomic Theory
- Macroeconomic Theory
Economics I and II are introductory courses which may be taken in either order, and survey economic problems, policies and theory. Required courses in microeconomic and macroeconomic theory and in statistics provide a deeper analytical foundation and the necessary quantitative tools to pursue graduate study in economics.
In addition to these required courses, students choose six economics electives. These electives provide students with opportunities to explore subject areas that are of personal interest and consistent with career objectives.
A major in Economics must also choose one of two options:
- proficiency in a modern language, or
- proficiency in quantitative skills
Consult the “University Academic Policies: Language Requirement” section for details of the language proficiency requirement.
General Economics Track
This track is designed to provide the student with a strong and flexible background in economic theory and some important applications of that theory. In addition to the six required courses, the student chooses six additional economics courses. The minimum mathematics requirement for an economics major, even those choosing the language proficiency option, is Management Pre-Calculus (92.121).
Minor in Economics
Eighteen credit hours are needed for a minor in Economics. All minors must take Economics I and II. Four additional economics electives are required, two of which must be at the 300 or 400 level.
Within this general framework, a wide variety of options is open to students who minor in economics. Courses can be taken to emphasize a particular area such as international, quantitative or environmental economics, or a series of courses can be chosen from different areas to strengthen or complement the student’s major discipline. Some of these courses are required in many MBA programs, and some schools waive them if they have been taken at the undergraduate level.