1998 - 2000 Catalog Archive

Department of Economics

Michael Magura, Chairperson
Steven J. Weiss, Undergraduate Adviser and Honors Adviser


Degrees Offered

The Department of Economics offers a baccalaureate degree program for a Bachelor of Arts.


Advanced Placement

The department will award credit after reviewing the advanced placement tests. Students with a score of 3, 4 or 5 will receive credit for ECON 1150 if the macroeconomics test was taken and ECON 1200 if the microeconomics test was taken.


Requirements for the Undergraduate Major

The economics major consists of a balanced set of core courses in economic theory and statistics, plus electives of the student's choice. Both macroeconomics (the study of a national economy) and microeconomics (the study of individual markets) comprise a body of consistent theory. The specific contents of our macroeconomic and microeconomic courses are prescribed by professional standards and are consistent with such courses offered at other colleges and universities across this country. Field courses, such as labor or monetary economics, illustrate applications of theories taught in our macroeconomic and microeconomic courses. The major then learns statistical techniques to test these applications. The ability to analyze economic data in consistent, precise and understandable terms gives our majors an ideal background for many kinds of business, government, legal and academic careers.

Beyond the required courses, the choice of courses is intentionally wide and numerous programs are possible. Each program is tailored to individual student needs and career objectives.

The major of 30 hours in Economics must include, from among the following, 15 hours of Core courses and 15 hours of electives:

1.Economics Core Courses Required for an Economics major. (a) ECON 1150 Principles of Macroeconomics (b) ECON 1200 Principles of Microeconomics * (c) ECON 3150 Intermediate Macroeconomic Theory (d) ECON 3200 Intermediate Microeconomic Theory (e) ECON 2640 Business and Economic Statistics (or equivalent) * Students may elect to take ECON 1880 Introduction to Macroeconomic and Microeconomic Analysis instead of ECON 1150 and 1200

2.Economics Electives: 15 hours, chosen in consultation with the Economics adviser.

3.Related Courses required for an Economics major.

The college requirement of 18 hours in related courses should be met with courses chosen in consultation with the Department's undergraduate adviser. The following courses are required: (a) Either: MATH 1850 Calculus I or MATH 1260 Modern Business Math I and MATH 1270 Modern Business Math II (b) MATH 2630 Introduction to Business Statistics

Majors are encouraged to meet the mathematics and statistics requirements at an early stage of their course work.

Inthe major area, 21 hours are to be taken under the regular grading system; the P/NC option is available for the remaining 9 hours and for all related courses.


Undergraduate Research

The Economics Department offers individual students the opportunity to gain research experience under faculty guidance. Research topics can be theoretical analysis, empirical analysis or both. Further options regarding the level of research are available as the department offers both junior and senior level courses: ECON 3900, 3910, 4910 and 4920. A student interested in conducting research needs to register for one of those four courses with the consent of a faculty member who agrees to direct the student's research. Students may enroll in these courses more than once. However, if they do, they are encouraged to work with different faculty members to obtain more diverse research experiences.


Requirements for a Minor in Economics

Students electing to minor in Economics must complete a minimum of 21 hours of course work. The 12 hours of required course work listed below for a minor in Economics provide the theoretical and quantitative skills essential for a fundamental understanding of the discipline of Economics and a rigorous background for an in-depth appreciation of our upper division courses. Each program of study for a minor must receive the prior approval of the Departmental adviser. A minimum GPA of 2.0 must be achieved in courses within the minor.

1.Courses required for a minor in Economics: (a) ECON 1150 Principles of Macroeconomics (b) ECON 1200 Principles of Microeconomics * (c) ECON 3150 Intermediate Macroeconomic Theory or another macro course chosen with the consent of the undergraduate adviser. (d) ECON 3200 Intermediate Microeconomic Theory or another micro course chosen with the consent of the undergraduate adviser. * Students may elect to take ECON 1880 Introduction to Macroeconomic and Microeconomic Analysis instead of ECON 1150 and 1200

2.Upper Division Economics Courses: In consultation with the departmental adviser, the student must select the additional nine hours from course work in economics at the 3000/4000 level. No more than three hours of ECON 4910 or 4920 may be included in the nine hours of additional course work.


Honors in Economics

Qualified juniors and seniors are invited to work for the citation "Honors in Economics."

A. Admission. The program is open to all undergraduate economics majors whether or not they are enrolled in College Honors. Students who have shown superior ability in their freshman and sophomore years and who show promise of continuing good performance in the major should apply to the department for enrollment in the Departmental Honors program. Ordinarily, the student must have a cumulative GPA of 3.0 or better.

B. Requirements. To be awarded Departmental Honors in Economics, the student must complete a senior thesis and must take 9 of the 30 hour major requirements in the Honors and Honors Recognition courses currently offered by the department. Every regularly scheduled 4000-level course can be given Honors Recognition by assigning readings and research in addition to the normal requirements of the course. To remain in the program, the student ordinarily must ßmaintain a 3.3 GPA in the major.

Last Updated: 11/15/23