Economics Major, BS

Program Description

The major program in economics is designed to prepare students for graduate studies in economics, law, and business, as well as careers in many areas of business, industry, and government. Banking, research and consulting organizations, financial institutions, insurance companies, not for profit agencies and government are among the many job options for economics majors. The WSSU economics faculty is committed to effective teaching, expanding intellectual knowledge in their fields and improving our local community. Concentrations are available in general economics, business economics, international economics, and political economy, which allow WSSU students to broaden their horizons and make them more marketable in the surrounding area and beyond. The courses required for the major of economics instill competence in essential economics principles, and require students to think critically and defend ideas both in oral and written argument. The major in Economics is an ideal program of study for students planning on attending Masters or Doctoral programs immediately following their completion of the Bachelor’s degree.

Student Learning Outcomes

The learning goals of the economics major are:

1. Effective Economic Policy Communication: Students will be able to prepare and deliver effective policy presentations or papers where key ideas, findings, and recommendations are presented in a thoughtful and logical manner utilizing economic models (Written Communications; Oral Communications)

2. Effective Critical Thinking and Problem Solving: Students will be able to objectively recognize and apply appropriate theoretical frameworks to economic issues/problems (Critical Thinking)

3. Quantitatively Literate Research and Application: Students will be able to summarize and discuss the impact of various economic variables using a real-world problem (Quantitative Literacy)

Major Requirements

The major requires a minimum of 33 semester hours (SH) of required courses, of which 9 SH may be used to satisfy general education requirements.

There are four concentrations within the economics degree program: general economics, business economics, international economics, and political economy. Each concentration has 12 SH of unique courses.

FOUNDATION COURSES (9 credit hours)

Course Number	Course Title	Credit Hours
ECO 2311	Principles of Microeconomics (GE)	3
ECO 2312	Principles of Macroeconomics (GE)	3
Choose one of the following approved courses
QBA 2325	Business & Economic Statistics	3
MAT 2326	Elementary Statistics (GE)	3
SOC 2326	Statistics for the Social and Behavioral Sciences (GE)	3
PSY 2326	Statistics for the Social and Behavioral Sciences (GE)	3
Total		9

BREADTH COURSES (9 credit hours)

Course Number	Course Title	Credit Hours
ECO 3313	Intermediate Microeconomics	3
ECO 3314	Intermediate Macroeconomics	3
ECO 3316	Applied Econometrics & Forecasting	3
Total		9

DEPTH COURSES (15 credit hours)

General Economics	Business Economics	International Economics	Political Economy
ECO 4301 - Applied Economics ECO - Any 3000 or 4000 level Economics Course ECO/FIN - Any 3000 or 4000 level Economics course or another approved course in Finance, Geography, or Political Science ECO/FIN - Any 3000 0r 4000 level Economics course or another approved course in Finance, Geography, or Political Science	ECO 4301 - Applied Economics ACC 2316 - Principles of Financial Accounting FIN 3351 -Principles of Financial Management MGT 2321 - Principles of Management MKT 2331 - Principles of Marketing	ECO 4301 - Applied Economics ECO 4384 -International Economics Any three of the following electives: MGT 3350 -International Business ECO 3315 - Economies of East Asia ECO 4331 - Money and Banking ECO 3332 - Economic Growth and Development ECO 3320 - Global Economic Systems FIN 3368 -International Finance A students who has at least two years of the same foreign language may use the last three courses in the foreign language sequence as fuldillment of the elective requirements for the concentration. A student with one year of a foreign language may substitue the second semester of the foreign language for one of the elective courses listed in the depth section of major. THe first semester of the first year of a foreign language course sequence may not be used to satisfy any part of this concentration	BLA 2325 - Business Law I POS 3355 -Criminal Law or POS 4369 Consitutional Law (prerequisite POS 2311 with C- or better) Any two of the following: ECO 3353 -Comparative Economic Systems ECO 3330 - Law and Economics ECO 3331 -Economics of Crime, Corruption and Terrorism ECO 4331 -Money and Banking
33	33	33	33
Total credit hours 60

These courses, called areas of concentration, offer a “deeper” dive” into one of the breadth areas of the discipline and culminate in the applied economics course.

ECO 4301 – Applied Economics

In addition, students must choose one of the following four concentrations consisting of 12 SHs:

General Economics Concentration

While the general economics concentration offers the most flexibility, it also requires greater advising responsibilities. As such, a student who wish to pursue a general economics concentration must make arrangements with her or his advisor to select appropriate courses to support the desired applied economics paper and to ensure a coherent whole.

ECO – Any 3000 or 4000 level Economics Course

ECO/FIN – Any 3000 or 4000 level Economics course or another approved course in Finance, Geography, or Political Science

Business Economics Concentration

ACC 2316   - Principles of Financial Accounting
FIN 3351   - Principles of Financial Management
MGT 2321   - Principles of Management
MKT 2331   - Principles of Marketing

International Economics Concentration

MGT 3350 – International Business

Any three of the following:

ECO 4331 – Money and Banking

ECO 4384 – International Economics

ECO 3332 – Economic Growth and Development

ECO 3320 – Global Economic Systems

FIN 3368 – International Finance

Political Economy Concentration

BLA 2325 – Business Law I

POS 3355 – Criminal Law or POS 4369 – Constitutional Law (prerequisite: POS 2311 with C- or better)

Any two of the following:

ECO 3353 – Comparative Economic Systems

ECO 3330 – Law and Economics

ECO 3331 – Economics of Crime, Corruption and Terrorism

Other Requirements

Optional for student wishing to pursue departmental honors:

HONORS PROGRAM

To earn departmental honors, students must:

Request admission into the Economics Honors Program. Students applying for admission must have completed or must be currently taking Principles of Microeconomics (ECO 2311 ) and Principles of Macroeconomics (ECO 2312 ). Students who have requested admission must receive a grade of at least B in both courses and receive a recommendation for admission from a majority of the Economic Faculty. They must also identify a faculty mentor who has agreed to take the student under his or her tutelage.
Have a cumulative GPA of at least 3.25 and a major GPA of at least 3.25 with no grade in the major lower than a B.
Complete ECO 4350 , Directed Honors Research Investigation in Economics (SLO: CR), and receive a grade of at least a B in that course. If a student takes the departmental honors route, he or she will not have to take ECO 4301 – Applied Business Economics. Note: this means that departmental honors requires a minimum of 36 credit hours, not 33 credit hours, to complete.
Complete an Honors Thesis by enrolling in Honors Thesis, Research/Creative Project (HON 4300 ). The honors thesis is in addition to other courses required for the major. To be considered for departmental honors, the Honors Thesis must comport with the following guidelines:
A student is required to write a senior thesis in an area that reflects the student’s depth interest. A student with an international economics concentration must write a senior thesis in international economics. A student with a legal and political studies concentration must write a thesis in legal studies or in political economy. A student with a general economics concentration will have to discuss the potential thesis topic with her or his advisor to ensure that the chosen courses form a coherent whole and decide on a topic that fits with those courses prior to writing the thesis. The student also must orally defend his or her thesis before the economics faculty on or before the final day of classes (SLO: OC, WC).