Economics is a social science that seeks to model the behavior of economic agents (consumers, workers, firms, and government agencies) in an effort to explain the production, distribution, and consumption of goods and services in a world where scarcity exists. Economists develop theoretical models to explain and predict economic outcomes and test these predictions using advanced statistical techniques. Topics include the choice of production technologies, wage inequality, schooling decisions, inflation, unemployment, and many other economic phenomena that affect the lives of everyone in our society.
What careers can this major prepare you for?
Students go on to Masters and PhD programs in Economics, Accounting, Finance and other related fields, pursue a law degree, or work in a variety of different jobs. Career paths for students with a degree in Economics include, but are not limited to: Actuary, Budget analyst, Credit analyst, Economic analyst, Financial advisor, Financial analyst, Healthcare analytics specialist, Market analyst, Mortgage loan associate, Pricing analyst, Real estate analyst, Statistician.
What skills are developed within this major?
The Economics major develops students’ analytical, communication, and quantitative skills, including the ability to analyze and interpret data from a variety of sources and in different settings. Students learn how to analyze and solve problems and to critically assess solutions to economic problems.
Admission to Major
No requirements other than good academic standing in the College of Liberal Arts and Social Sciences
Hours Required for Degree
Minimum hours required for degree: 120
Minimum hours required for major: 37-38 credit hours, including 30 credit hours in economics, 3-4 credit hours in statistics, and 4 credit hours in mathematics
Economics majors in a regular B.A. program must complete a total of 37-38 credit hours, including 30 credit hours in economics, 3-4 credit hours in statistics, and 4 credit hours in mathematics.
Students must complete the following six 3-credit hour courses for a total of 18 credit hours.
In addition to the core courses for the economics major, four economics elective courses amounting to at least 12 credit hours must be completed. These elective courses should be chosen in consultation with a department adviser.
In addition to the economics coursework listed above, students are required to complete one introductory course in statistics from the following list:
Students must also demonstrate mathematics proficiency by completing the following course, or an alternative course approved by the department.
Economics Honors Program
Students in the Economics Honors Program must complete the same 30 credit hours of coursework in economics listed above, the statistics requirement (3-4 hours), and MTH 181 and MTH 182 (8 hours). Students in the Honors Program must also Honors contract two economics electives plus ECN 428 , for a total of three contracted courses. For students planning to pursue graduate studies in economics, additional courses in mathematics are recommended.
An honors candidate must have and maintain a 3.3 overall grade-point average and a 3.3 GPA in major-field requirements. Information about the honors program will be provided to all students at the time a major is declared in economics. For further information, contact the Department of Economics.
Honors Program/University Scholars Requirements
The requirements for both University Honors and University Scholars are the same as the Economics Honors Program described above. A University Honors candidate must have and maintain a 3.3 overall grade-point average and a 3.3 GPA in major-field requirements. A University Scholars candidate must have and maintain a 3.25 overall GPA and a 3.25 GPA in major-field requirements.
Business Economics Major
The College of Business Administration, in cooperation with the Economics Department, offers a program in business economics which leads to a B.B.A. degree. For further information on the business economics major, see Business Economics Major, B.B.A. in the College of Business Administration.
Accelerated 3+3 Degree
The CSU/Cleveland-Marshall College of Law 3+3 program permits a student who has completed three years of undergraduate study to be admitted to the College of Law to begin J.D. studies. The undergraduate degree will be awarded upon successful completion of the first full year of the J.D. curriculum, thus permitting the student to graduate with both an undergraduate and law degrees in six rather than seven years of full-time study (or its equivalent). In effect, the first year of law school completes the fourth year of the undergraduate degree (serving, in effect, as undergraduate elective courses) and serves as the first year of law school. This arrangement saves both time and money for the student.