With a minor in economics, students will be in demand in both the private and public sectors. A course of study in economics will provide students with an understanding of economics and train students to engage in critical thinking by studying behaviors of firms, workers, resource distribution, and the performance of exchange systems.Knowledge of economics is important to creating an informed public, and a minor in economics will equip students to engage society in an informed manner.
Required courses: ECON 248, 249, 348, 349 plus 6 credits of electives; 3 of which may be applied from BUS.
ECON 110 3 credits
Current Economic Issues
The class is designed to use basic economic theory and demonstrate how it is applied to current real-world public policy decisions, and how the outcomes have immediate and personal impact.
ECON 248 3 credits
Surveys the performance of the American economic system through National Income Accounting with emphasis on the aggregates of government, consumers and business. The focus is on total employment, total income, total output, general level of prices and the major current problems of unemployment, inflation, and fiscal and monetary policy.
ECON 249 3 credits
Surveys behavior of individual economic units (household and business firms) and the price mechanism interacting in the market structures of American capitalism. Emphasis is on the specific product price and specific amount of production in an efficient and profit-oriented competitive economic system.
ECON 348 3 credits
Measurement and determination of national income, employment, and output; economic significance of consumption, saving, investment, foreign trade, money and prices, fiscal and monetary policy. Prerequisite: ECON
ECON 349 3 credits
Theory and application of microeconomics; demand, supply, optimal consumer choice, production, cost, profit-maximizing pricing and output decisions, employment of resources, externalities, efficiency and welfare.
Prerequisite: ECON 249.
ECON 352 3 credits
History of Economic Thought
Survey of economic ideas from Ancient Greece to present, emphasizing the
changing focus and methodologies of economics relative to economic problems perceived at the time.
ECON 353 3 credits
Economic Justice and Judeo-Christian Conscience
Examination of economics and Judeo-Christian concern for justice.
Topics include: the meaning of 'economic justice" in economic development; North-South relationships; economic system theories; poverty and prosperity; business ethics and labor-management issues; issues related to economic faithfulness for individual Judeo-Christians.
ECON 432 3 credits
International Political Economy
The course emphasizes the nature of international trade and international
economic theory, monetary and fiscal policies, and development. It will discuss the interplay between politics and economics. Current problems affecting international economic relations will be discussed.