Economics - B.A.

Chair: Lee Dunham
Department Office: Harper Center

The Department of Economics, supervised by the Department of Economics and Finance in the Heider College of Business, provides a program of study for students in the College of Arts and Sciences who wish to obtain the degree of Bachelor of Arts with economics as the field of concentration. This program is designed to acquaint the student with the tools and techniques of economic analysis and the contribution of economic analysis to decision-making in the business firm and to society. The program is designed to prepare those interested in careers as economists or economic analysts in business, government, and non-government organizations and for graduate study in economics. Alternatively, students can receive the degree of Bachelor of Science in Business Administration with Economics as the field of concentration. Please refer to the department’s listing under the Heider College of Business for further information about this degree.

B.A., Major in Economics requirements: 40 credits

Course requirements
ECO 203Introductory Microeconomics3
ECO 205Introductory Macroeconomics3
ECO 303Intermediate Microeconomics3
ECO 305Intermediate Macroeconomics3
ECO 508History of Political Economy3
MTH 141Applied Calculus3
or MTH 231 Calculus for the Biological Sciences
or MTH 245 Calculus I
MTH 161Business Statistics3
BIA 261Business Analytics4
Select 15 credits of upper-level courses (300 or above) in Economics.15
Total Credits40

Note: MTH 161 Business Statistics, MTH 141 Applied Calculus, MTH 231 Calculus for the Biological Sciences or MTH 245 Calculus I are pre-requisites to BIA 261 Business Analytics and should be completed by the second semester of the junior year, at the latest. 

Minor in Economics Requirements: 18 Credits*

The Economics minor offers the student the opportunity to achieve a basic understanding of the economic fundamentals at work in actions by individuals, firms, and governments. Students will examine resource allocation, income distribution, production, employment, and prices in a market economy.

ECO 203Introductory Microeconomics3
ECO 205Introductory Macroeconomics3
ECO 303Intermediate Microeconomics3
ECO 305Intermediate Macroeconomics3
Select 6 credits of 300-level and above ECO courses. 6

Courses

ECO 203. Introductory Microeconomics. 3 credits. FA, SP, SU

Nature of economics and the economic problem. Principles and problems of resource allocation and income distribution in a market economy with special reference to the American economic system; basic microeconomics of the household, firm and product and factor markets.

ECO 205. Introductory Macroeconomics. 3 credits. FA, SP, SU

Microeconomics versus macroeconomics; major macroeconomic problems in an open economy. Measurement, analysis, and control of the overall levels of income, production, employment, and prices with a focus on the modern U.S. economy; monetary, fiscal and related policies for economic growth and stability. P: ECO 203.

ECO 303. Intermediate Microeconomics. 3 credits. FA, SP

Advanced analysis of resource allocation and income distribution. The individual household and market demand; market supply and production/cost relationships. Price and output decisions of firms in different types of market structures; factor market relationships. General equilibrium analysis and welfare economics. P: ECO 205; MTH 141 or MTH 245 or MTH 231.

ECO 305. Intermediate Macroeconomics. 3 credits. SP

Advanced analysis of the measurement, determination, and control of national income and product and the aggregate levels of employment and prices; problems of, and policies for, economic growth and stability. P: ECO 205; MTH 141 or MTH 245 or MTH 231.

ECO 315. Money and the Financial System. 3 credits. FA

Analysis of the functions of money; U.S. monetary and banking system and the role of financial markets; monetary policy, price level, interest rates, national income, and international finance. P: ECO 205.

ECO 318. Economics of Public Finance. 3 credits. SP

Theoretical and applied aspects of public budgetary management. Students learn the economic theories and economic tools used to analyze government budgets, expenditures, and taxation. Course also includes discussions of public policy issues from both a theoretical and pragmatic perspective. P: ECO 205.

ECO 328. Public Choice. 3 credits. SP

Application of economic analysis to politics with a focus on theoretical models and empirical analysis of voting and election systems, the rent seeking society, the legislative and executive branches of government, as well as bureaucratic agencies. The course concludes with an exploration of constitutional political economy models synthesizing public choice insights into a prescriptive institutional reform proposal. P: ECO 205.

ECO 333. Economics of Sports. 3 credits.

Economic analysis of the sports industry and its applications. Topics include industrial organization of sports, the public finance of sports, the labor economics of sports, and selected special topics such as the NCAA. P: ECO 205.

ECO 353. Environmental Economics. 3 credits. SP (Same as EVS 353)

The application of economic analysis to environmental issues. Emphasis on global environmental problems and policies and environmental problems and policies that are common to all nations. P: Junior standing.

ECO 366. Economics Internship. 3 credits. FA, SP, SU

This course is designed to award credit to students for major-related significant practical business experience. A qualifying internship should allow students to apply higher-level concepts and technical skills learned in the classroom to real work settings, and must be secured before a student registers for the class. Students must work 150 hours during a semester and complete all online course requirements, including readings, discussions, a performance evaluation from their supervisor and a paper that reflects upon their achievements. The course is graded on a satisfactory/unsatisfactory basis and only 3 hours of internship credit may be used to satisfy graduation requirements. P: Completion of at least 80 credit hours in the Heider College of Business; instructor consent.

ECO 408. Current Issues in Social Economics and Political Economy. 3 credits. OD

Selective examination of current socioeconomic problems confronting both developed and developing countries and the world at large in light of the major politico-economic philosophies of the day. P: ECO 205; junior standing.

ECO 413. Market Power and Antitrust Policy. 3 credits. OD

Study of the economic and legal forces affecting the evolution and performance of large firms in concentrated markets in the United States. Focus on the structure, conduct, and performance of concentrated industries and the role of the antitrust laws in regulating behavior in these industries. P: ECO 205; junior standing.

ECO 418. Econometrics. 3 credits. FA, SP

Application of economics, mathematics, and statistics to the quantification of economic relationships. Intensive use of computer. P: Junior standing; ECO 205; BUS 229 or BIA 261 or PLS 310 or equivalent; Mathematical Reasoning course; Understanding Social Science course.

ECO 423. Transportation Economics and Policy. 3 credits. OD

Relationship of transportation to the national economy and to the business sector. Focus on principles of transportation economics, government regulation, passenger and freight transport, and such urban policy issues as energy and environment. P: ECO 205; junior standing.

ECO 433. Regional Economic Analysis. 3 credits. OD

Examination of regional economic problems and solutions as they relate to public policy initiatives. Course consists of theory development and empirical testing with statistical models. Emphasis on the use of the most recent advancements in computer hardware and software. P: ECO 205; BUS 229 or BIA 261 or equivalent.

ECO 443. Labor Economics. 3 credits. OD

The study of labor market theory and policy. The relevant theoretical analysis of labor demand and supply. Analysis of current labor market policies and institutions including discrimination, unemployment, immigration, minimum wages, and unions. P: ECO 205; junior standing.

ECO 479. Seminar in Economics. 3 credits. FA, SP

Exploration and analysis of selected problems, topics, and issues in today's economic environment. Course content changes from semester to semester. This course is repeatable as long as topic differs (12 credits). P: Junior standing.

ECO 493. Directed Independent Readings. 1-3 credits. OD

Directed readings course investigating theory and problems in the field of economics. Limited to students who want to develop a more in-depth knowledge of a subject beyond the regular course coverage and who have a QPA of 3.0 or better. May be repeated for credit to a limit of six hours. P: Senior standing; department consent and Dean's approval.

ECO 497. Directed Independent Research. 1-3 credits. OD

Supervised independent research on topics in theoretical/applied economics. Limited to students who want to develop a more in-depth knowledge of a subject beyond the regular course coverage and who have a QPA of 3.0 or better. May be repeated for credit to a limit of six hours. P: Senior standing; department consent and Dean's approval.

ECO 508. History of Political Economy. 3 credits. FA, SP

This course explores the evolution of economic thought through an understanding and comparison of economic theorists and scholars throughout history. The course critically examines the impact of changing social, political and economic conditions on the evolution of economic thought. P: ECO 303 or ECO 305 or equivalent for graduate students.

ECO 513. Health Economics. 3 credits. OD

Economic concepts and their application to the health services industry. Addresses demand, supply, distribution, utilization of resources, market theory and analytic techniques including cost-benefit and cost-effectiveness analysis. P: Junior standing; ECO 205 or equivalent for graduate students.

ECO 518. Comparative Economic Systems. 3 credits. FA

Analysis of modern variants of capitalism and socialism in light of the basic problems and principles applicable to all social economies. P: ECO 205 or equivalent for graduate students.

ECO 528. International Economic Development. 3 credits. SP

Contemporary theories of economic development and their relationship to areas of income distribution, population growth, urbanization, and economic growth in low- and middle-income countries. P: ECO 205 or equivalent for graduate students.

ECO 538. International Economics. 3 credits. FA

Basic theory of inter-regional and international trade; analysis of the international economy, including the institutions, procedures and policies of world trade and finance. Fulfills the College of Business requirements for an international course. P: ECO 205 or equivalent for graduate students.