Economics

College of Arts and Sciences

3002 Business Administration, 419-372-2646

Economics focuses on how people choose to use resources when faced with competing uses for them. The analysis can be directed to individuals and how time and income are spent, or to society and how it allocates scarce resources. For society, issues of unemployment, inflation, and growth are also focal points of the analysis. Economics majors gain strong analytical skills and the ability to critically evaluate alternatives. Communication skills are also stressed. These skills translate into entry-level positions in business or provide a foundation for law school, an M.B.A., or graduate school. The department also offers a master of arts in economics.

Learning Outcomes

Upon completion of the baccalaureate degree, students in economics are expected to:

• Demonstrate a command of basic characteristics of the American and global economy by using this knowledge to critically evaluate economic outcomes;
• Demonstrate a command of basic economic theory by using this theory to make predictions and to analyze alternative economic policy options;
• Demonstrate the ability to communicate in both oral and written forms by presenting arguments and evidence clearly and concisely;
• Demonstrate the ability to engage in and understand moral reasoning with respect to economic issues by recognizing the implicit value conflicts present in all economic policy debates;
• Demonstrate the ability to engage in problem solving, using basic economic theory;
• Demonstrate the ability to engage in critical thinking as a part of the analysis of economic problems.

Major, Bachelor of Arts (36 hours) - minor required - Fall 2020 course requirements

All economics majors must satisfy a written and oral communications requirement in economics. Certification by an economics faculty member is required. Details are available in the department office.

Minor (21 hours)
The Economics Minor (offered through the College of Arts & Sciences) is available to all students except those majoring or specializing in Economics.

21 Credit Hours Required:

1. ECON 2020, Principles of Microeconomics (3)
2. ECON 2030, Principles of Macroeconomics (3)
3. Select 15 additional ECON hours (except ECON 2000) (15)
4. Satisfy a written and oral communications requirement in Economics. Certification by an Economics faculty member that the requirement has been met is required. Details are available in the Economics Department office.

Notes: ECON 2000 does not count in the minor

Substitute courses must be approved by the department. All students must complete at least 15 credit hours toward the minor that are not counted in the student's major or specialization or another minor. For non-business students, the total number of hours earned in the Schmidthorst College of Business courses may not exceed 25 percent or 30 hours of the 122 needed for graduation, counting the major and the minor. All courses must be taken for a letter grade. (Note: six hours of STAT and nine hours of ECON are exempt from this limitation.)

Other programs
Programs in economics also are offered by the Schmidthorst College of Business.