Chair: Professor Mark Kanazawa
Economics analyzes the ways in which scarce resources are allocated across competing uses, both by businesses in production decisions and individuals in consumption choices. It also investigates how resources can be organized most effectively to meet a variety of objectives, including public policy goals.
Can I major in it?
Yes, an Economics major is offered.
Individual choice, organization of firms, inflation, investment, international activities, economic history, the economics of developing countries, the economics of sports, law and economics, environmental economics, and finance.
STEM designation for Economics Major
The economics major enjoys STEM designation by US Citizenship and Immigration Services, reflecting the mathematical nature of our major. This means that if you are an international student who graduates with a major in economics, you may apply for up to 36 months of optional practical training (OPT). Experience has shown us that this change can make a big difference in the ability of international students to secure employment in the U.S. after graduation. For more information, contact Liz Cody, Director of International Life.
How to get started
The basic course sequence, ECON 110: Principles of Macroeconomics and ECON 111: Principles of Microeconomics, is a prerequisite for most advanced courses. Either course may be taken first. Courses numbered below 300 are open to first-year students who have completed ECON 110 and 111 (or their equivalents).
ECON 110. Principles of Macroeconomics This course gives students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 111, as a preparation for all advanced study in economics. Topics include analysis of the measurement, level, and distribution of national income; the concepts of inflation and depression; the role and structure of the banking system; fiscal and monetary stabilization techniques; implications of and limits to economic growth; and international economic relations. This course is offered every term.
ECON 111. Principles of Microeconomics This course gives the students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 110, as a preparation for all advanced study in economics. Topics include consumer choice theory; the formation of prices under competition, monopoly, and other market structures; the determination of wages, profits, and income from capital; the distribution of income; and an analysis of policy directed towards problems of public finance, pollution, natural resources, and public goods. This course is offered every term.