Economics

Economics is a cutting-edge social science that equips students for a wide range of professional and career opportunities, including business, law, politics and education. A recent article in the Chronicle of Higher Ed describes economics as the "Just Right" major. According to the Chronicle, economics has "the appropriate middle ground of skill preparation, analytic rigor, and intellectual excitement students look for in a major and that employers look for when hiring students." A degree in economics opens opportunities in many fields and provides excellent preparation for those who want to pursue advanced study in a variety of disciplines.

Economics is often called the “science of choice” based on assumption that we live in a world characterized by limited resources and unlimited human material wants. Economics is the study of how people allocate resources and uses methodologies, models, and theories to help understand, explain, and predict economic phenomena. Economists typically spend a great deal of their time testing models and applying these models to the real world to help predict human behavior.

The College of Business and Public Policy's Economics Program is particularly strong in experimental economics with a new, state-of-the-art lab that is used for both research and teaching.

The Economics program offers courses for both degree and non-degree-seeking students. Students who want to major in Economics can choose either the Bachelor of Business Administration or Bachelor of Arts degree. A minor in Economics is also an option.

Economics Tracks

Are you interested in concentrating in a specific area within economics? Consider the following course sequences:

  • Environmental and Natural Resource Economics

  • ECON 210
    Environmental Economics and Policy
  • ECON 310
    Energy Economics
  • ECON 390
    Special Topics: Fisheries Economics
  • ECON 435
    Natural Resource Economics 1

  • Business Economics

  • ECON 341
    Labor Economics
  • ECON 350
    Money and Banking
  • ECON 363
    International Economics
  • ECON 329
    Business Forecasting
  • ECON 459
    Industrial Organization and Public Policy 1

  • Economics and Public Policy

  • ECON 315
    Urban and Regional Economics
  • ECON 337
    Development Economics
  • ECON 351
    Public Finance
  • ECON 390
    Special Topics: Health Economics
  • ECON 445
    Methods for Public Policy Evaluation 1
  • ECON 640
    Economics of Transportation (graduate class, can’t be repeated for MPA/MPP degree)

  • Quantitative Economics

  • ECON 390
    Special Topics: Applied Economic Modeling
  • ECON 445
    Methods for Public Policy Evaluation 1
  • ECON 435
    Natural Resource Economics 1
  • ECON 494
    Advanced Micro & Mathematical Economics 1
  • ECON 459
    Industrial Organization and Public Policy 1

  • Behavioral and Experimental Economics

  • ECON 123
    Introduction to Behavioral Economics
  • ECON 333
    Experimental Economics
  • ECON 390
    Special Topics: Game Theory
  • ECON 456
    Behavioral Economics*
  • ECON 445
    Methods for Public Policy Evaluation 1

  • Economics and Philosophy

  • PHIL 101
    Intro to Logic
  • ECON 325
    History of Economic Thought
  • ECON 360
    Modern Economic History
  • ECON 390
    Special topics: Worldly Philosophers
  • PHIL 301
    Ethics
1 Course has ECON 321 and ECON 312 as a prerequisite.

Economics PhD Graduate School Preparation

Ideally, a grad school prep track would include the following courses beyond the economics core:
  • Minimal additional mathematics and statistics courses
    • MATH 251, 252, 253 Calculus I, II, III
    • MATH 314 Linear Algebra
    • MATH 407, 408 Mathematical Statistics I, II
    • STAT 307 Probability and Statistics
  • Optional Math and Statistics courses, especially for those considering top programs
    • any 400- or 600-level Statistics course
    • MATH 324 Real Analysis
    • MATH 371 Stochastic Processes
    • MATH 422 Partial Differential Equations
    • MATH 426 Numerical Methods
  • Optional Economics courses
    • ECON 445 Public Policy Evaluation
    • ECON 494 Mathematical Economics and Advanced Micro Theory
    • ECON 390 Applied Economic Modeling
    • Independent study. Students should consider getting independent research experience. This could include applying for an undergraduate research grant and presenting results at the undergraduate research showcase.

The American Economic Association has two useful web pages dedicated to advice when preparing for graduate school:
Recommended Mathematical Training to Prepare for Graduate School in Economics
Math Preparation for Graduate School

Law School Preparation

Considering a career in law? Did you know that Economics majors tend to be among the best performers on the LSAT? In a recent study, economics ranked second among all majors in average LSAT scores (Nieswiadomy, 2017).

The American Bar Association does not recommend a specific major or particular courses in preparation for law school. Instead they identify some fundamental skills and values that are useful in preparing for law school. These include analytic skills, critical reading and writing skills, and ability to conduct independent research.

The B.A. in Economics degree helps students develop these essential skills while providing the opportunity to pursue additional areas of interest.