Bachelor of Science in Economics

In the broadest sense, economics is the science of decision-making. In economics, students learn how to identify the costs, benefits, and consequences of a decision. Government economists assess economic conditions in the U.S. and abroad and estimate the economic impact of specific changes in legislation or public policy. Economists in private industry work largely for marketing research firms, management consulting firms, banks, investment firms, and insurance companies. A degree in economics is also highly desirable for students who plan to attend graduate school or law school. The College of Business and Economics has an excellent record of placing economics students in both. Major Learning Goals The objective of providing a foundational education in economics at the undergraduate level cannot be realized without appropriate curricula content, effective teaching, and ultimately, learning. Within the undergraduate economics major, we subscribe to the following learning goals for each of our undergraduate students. Students can use supply and demand to analyze how world events affect market equilibrium prices and quantities. Students understand the theory of the firm and its implications for prices and production under different market structures. Students understand the role of prices and profits and losses in coordinating economic activity. Students can evaluate the efficiency of competitive market outcomes relative to alternative arrangements. Students can explain how GDP, the unemployment rate, inflation, interest rates, and economic growth are measured, can distinguish between real and nominal variables, and can explain the significance of these measures. Students understand and can analyze the determinants of long-run variations in national economic growth rates, wealth, and income. Students understand and can analyze the determinants of short-run fluctuations of economic variables over the business cycle. Students understand the goals and tools of monetary and fiscal policy. Careers Economics is an excellent major for anybody interested in a career in: Banking Business Domestic government service Foreign Service Law Politics