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Economics Requirements

Economics and Business

Professors KAPURIA-FOREMAN, LAUX, SMITH, TIEFENTHALER;
Associate Professors DE ARAUJO, FENN, JOHNSON, LYBECKER, PARCO, REDMOUNT;Schlessman Visiting Executives-in-Residence MANN, PRESS; Visiting Faculty COOLEY, FULLERTON, JETER, RAPPAPORT, SAMELSON

 

THE MAJOR — REQUIREMENTS:

The Department of Economics and Business offers a major in economics and supports several interdisciplinary majors including mathematical economics, international political economy, and environmental science. The college’s location, resources, and unique Block Plan calendar allow the faculty to offer students truly extraordinary learning experiences. Many of the department’s courses incorporate experiential learning opportunities including guest lecturers, executives-in-residence, and field trips. Field trips range from one-day visits to Denver-based executives to longer trips to Nebraska, Boston or Britain. A large percentage of students take advantage of opportunities to study at another college or university in the United States or to study abroad at institutions such as the London School of Economics. The college also has an exchange agreement with the Jönköping International Business School in Sweden. Students who excel in the major will find many opportunities to pursue independent research projects or to work collaboratively with department faculty, and the department and college have significant resources to support these research activities. Distinction at graduation and other prizes are awarded by the department faculty to majors on the basis of the senior thesis, overall performance in department courses, and performance in courses outside the department and social science division. The department aims to provide students with rigorous grounding in economic principles and business concepts so that they can communicate effectively, analyze data, work independently, and frame/resolve ill-defined problems, in order to provide excellent preparation for careers in business and public service. In addition, many of the department’s students attend the nation’s finest business and law schools, and pursue graduate study in economics, public policy, and environmental management at leading research universities.

 

To declare a major in economics, students must complete an approved college-level course in calculus (MA 125 or MA 126) and Economic Theory I (EC 201). Other courses required for the major include Microeconomic Theory II (EC 301), Macroeconomic Theory II (EC 302), Statistics (MA 117 or MA 217), Econometrics I (EC 303) and five electives chosen from three thematic tracks: business, microeconomics and macroeconomics/international topics.  Students must complete at least two credits from each of two different tracks, including at least four at the upper (300 or 400) level of the curriculum. Finally, all economics majors work closely with a faculty advisor to complete an independent senior thesis research project growing out of one of their completed thematic tracks (EC 430 for business focus, EC 460 for micro focus, EC 490 for macro/international focus).

 

Themes are arranged to permit students to develop expertise in at least two sub-disciplines: 

  • Business courses are EC 211-230, 311-330 and 411-430
  • Microeconomics courses are EC 241-260, 341-360, 441-460
  • Macroeconomics/International courses are EC 271-290, 371-390, 471-490

Some courses may count toward more than one theme, as noted in individual course descriptions (e.g. 245, 347, 351, 405, 406, 407).

 

Students considering a major might elect to take 100-level courses in the department as a less mathematical introduction to the discipline, courses which do not count toward the majors.  The department recognizes the equivalency of AP scores of 4 or higher for calculus and statistics, and AP Economics as an equivalency for EC 100, but does not consider AP Economics as a substitute for Economic Theory I (EC 201), a course which is predicated upon calculus and other math skills. Transfer students, or students aiming to take courses at other schools for credit for the major within the department, should consult the department chair beforehand (or as soon as possible) to ensure equivalency of their coursework.