Home
Skip Navigation Links Home: / Academic Life / Academic Programs / Business & Economics Division / Economics Program

The Economics Program at Lyon College

    Economics has been defined as the science of choice in the face of scarcity. Limited resources, limited time, limited manpower, limited energy, limited knowledge — such factors as these define the boundaries of possibilities and require human beings and societies to make choices. Economic theory is an attempt to capture the essence of that decision-making process, free of the details of particular situations. Students in the Economics Major learn to use this theoretical foundation to analyze decision-making throughout society — from an individual’s decision to purchase a car to a state’s decision to raise or lower taxes to a society’s decision to choose a particular form of government. In the classic sense of liberal education, students learn to use the intellectual tools of economics as a key to understanding the human experience and as a guide to individual and societal action. This understanding of the forces underlying our economy — and, to a great degree, our society — provides a strong foundation for a range of professions and business careers.  The Economics major is considered as a solid preparation for graduate studies in business administration, finance, and law.

Summary of Requirements for a Major in Economics

ECO 101, 102 Principles of Economics I* & II

6 credits

ACC 210, 211 Principles of Accounting I & II

6 credits

BUS 323 Statistical Applications to Business Decision Making

3 credits

MTH 205 Calculus Applications in Business & Economics

3 credits

ECO 301 Intermediate Macroeconomic Theory

3 credits

ECO 302 Intermediate Microeconomic Theory

3 credits

Four economics courses numbered 300 or above

12 credits

TOTAL

36 credits

*This course may also be used to satisfy Core requirements.
† Students may substitute MTH 210 for MTH 205.

   The Economics Minor is a course of study designed as a second field for students seeking an understanding of the tools of economic theory and their use in analyzing the decision-making process on both an individual and a societal level.

Summary of Requirements for a Minor in Economics
 

BUS 323 Statistical Applications to Business Decision Making

3 credits

ECO 101 Principles of Economics I

3 credits

ECO 102 Principles of Economics II

3 credits

ECO 301 Intermediate Macroeconomics

   OR ECO 302 Intermediate Microeconomics

 

3 credits

Two upper division Economics electives

6 credits

MTH 205 Calculus Applications in Business & Economics

3 credits

TOTAL

21 credits