Economics is a social science concerned with choices made by individuals and society as well as a business science essential to understanding the business world. Economics provides the foundation for analytical applications in accounting, finance, management, marketing and public policy analysis. The tools of economics can actually be applied to any area of human choice.
Students develop skills in analytical and critical thinking, quantitative and statistical proficiency, and economic literacy and knowledge that are broadly useful in many jobs. An economics education opens up opportunities for career paths in business, government, non-governmental organizations, non-profit organizations and education. Economics is also valuable as a major or minor for those planning to pursue further professional or graduate training, including MBA, law, public policy, public administration and data analytics, as well as industrial, labor and international relations. Students who are considering graduate work in economics or related business disciplines should consider a minor in mathematics or a double major in economics and mathematics.
Economics is divided into economic theory, quantitative methods and a variety of applied subfields. The department offers courses in Micro- and Macroeconomic fundamentals which provide a theoretical framework for understanding the world. The department also offers courses in Econometrics which provide the quantitative tools necessary to analyze data to inform decision-making. Lastly, a diverse array of courses are available for students to choose from which apply economic reasoning and tools to specific areas of interest, including Money and Banking, Growth and Development of Economies, Globalization, International Trade, International Finance, Discrimination and Labor Markets, Natural and Environmental Resources, Public Finance, Urban and Regional Issues (such as crime and city planning) and the History of Economic Thought. Economic theory and quantitative methods provide students with analytical skills and with the tools of empirical investigation.
Students can major in economics within the College of Business and Economics (or the College of Letters and Sciences). Students from the College of Business and Economics can pursue a minor in economics through the College of Letters and Sciences. Students from the College of Letters and Sciences can combine a major in economics with a professional minor in business studies. Students in the College of Education can obtain a BSE with a major in economics. The requirements for the economics major courses are the same in all cases with only the courses required for the type of degree (BA, BS, BBA, BSE) being different.