Economics

Major and Minor

Faculty and professional interests
Jonathan Powers, chair
   Microeconomics, industrial organization, game theory, economics of information
Teresa L. Amott
   Labor economics, family and welfare policy, feminist economics
Roy R. Andersen
   Microeconomics, international economics, development
Steven M. Cohn
   Heterodox economics, macroeconomics, environmental economics, China's economy
Carol Scotton
   Microeconomics, business, public economics, healthcare economics
Richard A. Stout
   Microeconomics, macroeconomics, statistics, nonprofit enterprises

Cooperating faculty from other programs
Carissa Shoffner, Business and Management
John Spittell, Business and Management

Economics is primarily concerned with how to allocate scarce resources among the many competing demands for them, how to distribute the fruits of their productive efforts among the members of the group, and how to stabilize economies at high rates of employment and low rates of inflation. The study of economics applies theoretical, historical, institutional and quantitative approaches to the analysis of these questions.

In economics, students first study principles and techniques of economic analysis, then do more specialized and applied work in such fields as international trade, public economics, environmental economics, industrial organization or econometrics. Students also have the opportunity to explore diverse paradigms in economics. Students may pursue research in independent study or in senior honors projects.

The faculty stress the development of problem-solving abilities and familiarity with computer applications. Particular attention is given to developing critical thinking skills through emphasis on the analytical tools used by economists. The faculty stress the implicit and explicit value judgments involved in economic analysis and decision-making.

The study of economics has a place in any citizen’s education. Students may involve themselves deeply in public policy analysis, which takes advantage of the close relation between economics and political science, and may continue their study in several off-campus programs in Washington, Chicago, or abroad.

The major prepares students for study at the graduate level in economics, business, law and public policy, as well as for employment.

Because economics makes extensive use of mathematics, joint study of economics and mathematics is often pursued. Students interested in graduate work in economics should plan on taking additional classes in mathematics and consult with a member of the department early in their college career to ensure proper preparation.

The departmental curriculum contributes to the College's Key Competency Requirements as follows:

• Writing Key Competency - ECON 303 serves as a writing-intensive course for majors
• Speaking Key Competency - ECON 399 serves as a speaking-intensive course for majors
• Information Literacy and Informed Use of Technology - Information Literacy skills are developed in most courses required for the major, especially in the statistics sequence (STAT 200, ECON 303), ECON 302, most elective courses and Senior Seminar (ECON 399). In these classes students learn how to collect and analyze data (on-line and in print) using modern search techniques and various statistical methods.

Requirements for the Major and Minor

Economics Course Descriptions