Knowledge of microeconomic theory, macroeconomic theory, and market failure, and the ability to apply them to domestic and global economic issues.
The skills necessary to identify and analyze the economic dimensions of individual, firm, and social problems.
The ability to use an economic way of thinking to identify solutions to problems that are unfamiliar.
The ability to recognize the limitations of proposed solutions to individual, firm, and social problems and situations.
Program Information
Historically, economists tracked and studied global and national macroeconomic trends — recessions, currency exchange rates — either to help a business better position itself for long run success or to help large financial institutions and government agencies intervene appropriately during challenges and crises.
In the data age, as the pace of both business and behavioral change quickens, economists focus on smaller trends across shorter time frames.
Do supply chain efficiencies improve a hybrid car maker’s profits?
Will changes in insurance rules and procedures impact health care labor markets?
Are default rates lower for consumers who secure a mortgage through an on-line app?
What causes someone to begin to book online travel, but then procrastinate?
While tech giants like Google, Facebook and Amazon capture most of the attention, as an economist you might work in teams using data to innovate across a range of settings: law firms, government agencies, national and regional banks, or non-profits.
Economics draws on important liberal arts frameworks — history, philosophy, mathematics — to address questions in diverse topics in business ( e.g. tax rates) and in such non-traditional areas as:
marriage and child-rearing
criminal behavior
social justice and discrimination
sustainability and ethics
The new “ordinary” business life is more global and extraordinary, you will need a broad understanding and specific skills to keep pace. The Boler Bachelor of Science in Economics combines the best of the liberal arts tradition with exposure to specific business skills. Your core courses will emphasize an ability to think critically, communicate orally, write, and solve problems as well as perform quantitative analysis.
The Bachelor of Science in Economics curriculum will challenge you to understand more detailed topics:
microeconomic and macroeconomic theory
market failure
domestic and global economic diversity
economic dimensions of individual, firm, and social problems
Your knowledge and experience will underpin an ability to use an economic way of thinking to identify solutions to problems that are unfamiliar. That’s why a major in economics provides a comprehensive background valuable in many academic and professional fields. Law and business graduate programs see economics as strong preparation because of its logical, ordered approach to problem solving.
Students must complete the University’s Integrative Core Curriculum in addition to the Boler Core Curriculum. In completing the Integrative Core Curriculum, Boler College of Business students must take PL3311 (Business Ethics) as one of the choices in the category of Jesuit Heritage.
Analysis of the behavior of consuming and producing units, determination of prices and outputs through the market, resource allocation and distribution. Problems of decision-making and planning. Prerequisite: EC 2201, EC 2202; MT 1130 or MT 1133 and MT 1134 or MT 1135; or permission of chair.
Course Code
EC 3302
Course Description
Theories of the determination of the level of national economic activity: output, income, employment, and its relationship to economic growth, stability, and the price level. Particular emphasis on the components of aggregate demand and aggregate supply. Prerequisite: EC 2201, EC 2202; MT 1130, MT 1133 and MT 1134, or MT 1135; or permission of chair.
During senior year, all economics majors must take an economics comprehensive examination. Consult the department for details.
Students who seek to double major in economics and finance can use their finance elective also to count as an economics elective, and are permitted the choice of taking MHR 4499 or EC 4499. Students may double major in economics and financial planning and wealth management. In addition, economics works well as a double major with disciplines in Arts and Sciences such as Sports Studies, Political Science, History and Philosophy. Economics majors who are interested in a double major should speak to their advisor or to the chair of the Economics department.
Professional Experience: Relevant professional work, internship, or volunteer experience is required prior to graduation. This requirement must be satisfied by completing BPD 4490.
Economics Electives
Course Code
Course Name
Course Code
EC 3310
Course Description
This course is designed to prepare students to handle big data, run quantitative analyses of economic models using computers, interpret regression analysis, and perform several empirical analyses on their own using real-life data. Topics covered include linear regression models, simultaneous-equations models, panel data analysis, discrete choice models, among others. Offered: Fall only.Prerequisites: EC 2201, EC 2202, EC 2210, EC 3301, EC 3302.
Course Code
EC 3311
Course Description
Money and credit; historical and institutional development of the U.S. financial system; monetary theory; policies of financial regulators. Prerequisite: EC 2201 and EC 2202.
Course Code
EC 3312
Course Description
Theoretical and empirical analysis of public (government) expenditures and taxation. Topics include welfare economics, public goods, externalities, theories of distributive justice, income taxation, tax incidence, taxation and efficiency, and public choice theory. Prerequisite: EC 2201 and EC 2202.
Course Code
EC 3315
Course Description
Designed to acquaint students with analytical tools of environmental economics, including cost-benefit analysis, user charges, rationing of scarce resources, investment allocation criteria, and public expenditure criteria. Prerequisite: EC 201 and EC 202.
Course Code
EC 3318
Course Description
Overview and analysis of health care systems around the world, including the US. Topics include the determinants of health disparities, new global health policies, global interventions, and how health care policies impact the political-economic environments. Students will examine how health economic principles and economic incentives are used to address sustainability issues to enhance healthier lifestyles and accessibility to quality health care, to impacts on the behavior of stakeholders in the healthcare industry. Through case studies, students will learn how to evaluate health programs and the impact of social and economic problems on public health. Prerequisite: EC 2201. Recommended prerequisite: EC 2202.
Course Code
EC 3321
Course Description
Examines the organization, functioning, and outcomes of labor markets; the decisions of prospective and present labor market participants; and public policies that relate to the employment and payment of labor resources. Topics include determination of wages, prices, profits; individual human capital acquisition and labor supply decisions; labor unions and collective bargaining; labor law and public policy. Prerequisite: EC 2201 and EC 2202.
Course Code
EC 3326
Course Description
Designed to focus on the interface between sports, professional and amateur, and the economic behavior of individuals, teams, firms, and institutions. Students will learn how economic systems and economic incentives shape the world of sports. Further, students will become competent in using economic tools, and analytical methods, and quantitative skills to understand efficiency, trade-offs, costs, and benefits associated with decisions in the sports world. Prerequisite: EC 2201 and EC 2202.
Course Code
EC 3342
Course Description
International trade theory, commercial policy, and economic interdependence. Exchange rates and the foreign exchange market, the balance of payments, parity conditions, and the international monetary system. Prerequisite: EC 2201 and EC 2202.
Course Code
EC 3343
Course Description
Theoretical and policy issues in economic growth and development with emphasis on specific country policies and experience; alternative development paths; problems of development planning; policies for achieving growth and development in emerging countries; and conditions necessary for continued growth in advanced countries. Prerequisite: EC 2201 and EC 2202
Course Code
EC 3361
Course Description
Applies analytical techniques of economic theory to urban and regional problems. Economic rationale of cities, urban and regional growth and development, classical location theory, analysis of urban markets, and policy approaches to urban and regional problems. Prerequisite: EC 2201 and EC 2202.
Course Code
EC 4405
Course Description
Contemporary issues in economics not covered in depth in other department courses. Specific topic, method of presentation, and student requirement designated by the seminar leader. Examples might include, but are not limited to, health economics, the portfolio approach to exchange rates and the balance of payments; alternatives to standard international trade models; causes and consequences of income and wealth inequalities. Prerequisite: EC 2201 and EC 2202, and/or as announced.
Course Code
EC 4412
Course Description
This course is designed to prepare students to take the Certified Business Economics and Data Analytics (CBE) exam. The course is a study support class provided by the Economics faculty and focuses primarily on economic measurement topics as well as additional topics of data analysis, including time series analysis and forecasting, serial correlation and inference, heteroscedasticity and inference, simultaneous equations, limited dependent variable models, and the polling of time series and cross-sectional data (among other topics). Offered: Spring only. Prerequisite: EC 3310 or Instructor’s permission.
A total of 5 elective courses (15 credits) are required for the major. Elective courses must be upper-division economics courses in addition to EC courses required in the business core (EC 2201, EC 2202, and EC 2210). Students may choose from the above courses.
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