Economics is the social science that studies decision making given limited resources. The undergraduate major is designed to instruct students in the basic tools of economic theory and statistical methods, and to teach students how to use these tools to think critically about both current and historical economic issues.
Economics majors are expected to:
1. demonstrate an understanding of the role of markets in allocating resources and the efficiency and equity effects of government policies;
2. demonstrate an understanding of the economy as a whole, including the determination of output, prices, and employment as well as the impact of monetary and fiscal policies;
3. demonstrate an ability to locate, read, interpret, and evaluate existing economic data and related statistical information; and
4. demonstrate a beginning ability to apply the tools of economic theory, statistics, and econometrics to study current and historical economic problems.
The first two learning goals are accomplished by the successful completion of the required economic theory sequence:
Econ 101 Introduction to Economics-Micro
Econ 102 Introduction to Economics-Macro
Econ 323 Intermediate Microeconomic Theory
Econ 324 Intermediate Macroeconomic Theory
The third learning goal is accomplished by the successful completion of the required statistical methods sequence:
Econ 231 Statistical Methods
Econ 322 Introduction to Econometrics
The fourth learning goal is accomplished by the successful completion of six elective courses in which economic theory and statistical methods are used to study a wide variety of current and historical economic issues; it is also accomplished by the successful completion of:
Econ 406 Seminar in Economics
In addition, the economics major strengthens the following collegewide competencies:
- proficiency in mathematics and basic computer literacy
- problem solving and critical thinking
- effective written and oral communication skills