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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
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