Economics

The Economics program at USAO is designed to give students a broad range of exposure to economic theory and applications. Because economics seeks to understand how societies arrange complex systems of production and distribution within larger political, cultural and social institutions, it is necessarily interdisciplinary in nature. The Economics program thus draws from the disciplines of history, political science, sociology, mathematics and other liberal arts disciplines.

The major offers two curriculum options. Students may choose a Bachelor of Arts degree with a Social Science emphasis, or a Bachelor of Arts degree with a Business emphasis. The Social Science emphasis prepares students well for graduate studies in Economics and other social sciences, as well as law school and employment in business, government and teaching. The Business emphasis, which combines the social science nature of Economics with practical business applications, prepares students well for graduate business programs as well as a business career.

 

Bachelor of Arts in Economics (36 hours total)

Required Core (18 hours)

Course                                                    Title                                                                           Hours Required

ECON 2113                                            Principles of Macroeconomics                                                3

 ECON 2123                                           Principles of Microeconomics                                                 3

ECON 3133                                            Intermediate Macroeconomics                                               3

ECON 3113                                            Intermediate Microeconomics                                                3

 ECON 3653                                           History of Economic Thought                                                 3

MATH 2203                                            Elementary Statistics                                                            3

 

Social Science Emphasis

Required Economics core (18 hours) +

Economics Electives chosen from the following (15 hours):

ECON 3313                                            Money and Banking                                                             3

ECON 3443                                            Comparative Economic Systems                                            3

ECON 3773                                            International Economics and Finance                                     3

ECON 3783                                            Public Finance                                                                     3

ECON 4223                                            U.S. Economic History                                                          3

ECON 4333                                            Regional Economics                                                             3

ECON 3553                                            Economics of Race, Class and Gender                                    3

ECON 3223                                            Labor Economics                                                                 3

ECON 4880                                            Special Topics                                                                     1-3

ECON 4990                                            Economics Tutorial                                                              1-3

 

Social Science Electives chosen from the following (9 hours):

BADM 3483                                           Principles of Finance                                                               3

BADM 4453                                           Business Ethics                                                                       3

HIST 3223                                            Russian History                                                                       3

HIST 4403                                            History of England & France 1515-1815                                     3

HIST 4503                                            Ideology & Mass Culture in the Modern World                            3

HIST 3663                                            Colonial and Revolutionary America                                           3

HIST 3773                                            The United States, 1789-1877                                                   3

HIST 3883                                            The United States, 1877-1945                                                  3

HIST 3993                                            Contemporary United States                                                     3

INST 3443                                            American Indian Economics                                                      3

MATH 1743                                           Calculus and Analytic Geometry I                                              3

MATH 2223                                           Calculus and Analytic Geometry II                                             3

MATH 2243                                           Calculus and Analytic Geometry III                                            3

MATH 3233                                           Linear Algebra                                                                         3

MATH 3263                                           Calculus and Analytic Geometry IV                                            3

PSCI 3103                                            State and Local Government                                                     3

PSCI 3213                                            Interest Groups and Political Parties                                           3

PSCI 3234                                            Introduction to Political Theory                                                  3

PSCI 3643                                            International Relations                                                              3

PSCI 3753                                            Public Administration                                                                3

PSCI 3803                                            Public Policy                                                                            3

PSCI 4213                                            American Foreign Policy                                                            3

SOC 3543                                             Social Stratification                                                                  3

SOC 3863                                             Population                                                                              3

SOC 4773                                             Social Theory                                                                          3

SOC 4783                                             Methods of Social Research                                                      3

 

Business Emphasis

Required Economics Core (18 hours) +

Economics Electives chosen from the following (12 hours):

ECON 3313                                            Money and Banking                                                                3

ECON 3443                                            Comparative Economic Systems                                               3

ECON 3773                                            International Economics and Finance                                        3

ECON 3783                                            Public Finance                                                                        3

ECON 4223                                            U.S. Economic History                                                             3

ECON 4333                                            Regional Economics                                                                3

ECON 3553                                            Economics of Race, Class and Gender                                       3

ECON 3223                                            Labor Economics                                                                    3

ECON 4880                                            Special Topics                                                                        1-3

ECON 4990                                            Economics Tutorial                                                                 1-3

 

Business Electives chosen from the following (12 hours):

ACCT 2103                                            Principles of Accounting I

ACCT 2203                                            Principles of Accounting II

BADM 3103                                           Business Law I

BADM 3223                                           Business Communication

BADM 3243                                           Principles of Marketing

BADM 3483                                           Principles of Finance

BADM 4453                                           Business Ethics

MGMT 3253                                           Principles of Management

MGMT 3393                                           Small Business Organization and Management

Minor in Economics
18 hours to be selected with the approval of the discipline chair.

COURSE LISTINGS in ECONOMICS (ECON)

1003       ECONOMICS IN LIFE
              This course teaches the utilization of present and future income. Money management strategy, banking services,
              credit management, consumer decisions, insurance and estate planning are introduced. 3 hours

2113       PRINCIPLES OF MACROECONOMICS
              Introduction to theory of income and employment, money and banking, fiscal policy, and economic growth.
              3 hours

2123       PRINCIPLES OF MICROECONOMICS
              Introduction to theory of price, price and output determination in different market situations, and public policy
              toward business. 3 hours

2880       SPECIAL TOPICS
              Special topics in economics. 1-4 hours (may be repeated for total of 6 hours).

2900       WORKSHOP
              Guided study in economics under faculty supervision; various topics and methods of instruction. 1-4 hours (may
              be repeated for total of 6 hours with change in title and topic).

2990       TUTORIAL
              Independent study in economics under faculty supervision. 1-4 hours (may be repeated for total of 9 hours with
              change in title and content).

3113       INTERMEDIATE MICROECONOMICS THEORY
              Principles of demand, supply, production, and costs; price and output determination in different market
              situations. Prerequisite: ECON 2123. 3 hours

3133       INTERMEDIATE MACROECONOMIC THEORY
              Measurement and analysis of determination of national income and employment; general price level; stabilization
              and growth. Prerequisite: ECON 2113. 3 hours

3223       LABOR ECONOMICS
              Labor Economics is an applied Microeconomic theory course that studies how labor markets are organized, the
              outcomes of labor markets, and how participants make decisions within that market. This course applies not only
              that narrow micro approach, but also presents labor issues as part of a larger institutional arrangements, historical
              development of labor markets, labor law, and the social consequences of work and income distribution. 3 hours

3313       MONEY AND BANKING
              Essentials of commercial and central banking; monetary theory and policy. Prerequisites: ECON 2113 and
              ECON 2123. 3 hours

3443       COMPARATIVE ECONOMIC SYSTEMS
              Comparative study of different economic systems proposed or used to deal with economic organization of society.
              3 hours

3553       ECONOMICS OF RACE, CLASS AND GENDER
              Economics is choice theory: how people make decisions and how those decisions impact the economy as a whole
              as well as the individual. The Economics of Race, Class and Gender addresses the reality that different people will
              have different opportunities to make choices, different abilities to make choices, and different outcomes from
              those choices when their race, class and/or gender is taken into consideration. The purpose of this course is
              twofold: first, to understand how economics as an academic discipline incorporates social groups into theory; and
              secondly, to understand how group membership impacts economic outcomes by analyzing a specific issue such as
              poverty. 3 hours

3653       HISTORY OF ECONOMIC THOUGHT
              Economic theory since Smith, including theories and doctrines of Smith, Marx, Veblen, Keynes, and others.
              3 hours

3773       INTERNATIONAL ECONOMICS AND FINANCE
              Basis of trade, foreign exchange, foreign investments, and world economic growth. Prerequisites: ECON 2113 and
              ECON 2123. 3 hours

3783       PUBLIC FINANCE
              Fiscal theory and policy; incidence of taxation. Prerequisites: ECON 2113 and ECON 2123. 3 hours

3893       GOVERNMENT AND BUSINESS
              Factors determining industrial organization and economic behavior; operation of antitrust laws; public regulation
              of business. Prerequisites: ECON 2113 and ECON 2123. 3 hours

4223       U.S. ECONOMIC HISTORY
              This course discusses critical events in U.S. economic history from colonial times through the Great Depression. In
              addition, methods of economic history are analyzed. The cumulative nature of history is emphasized, as well as
              how political and social change impacts the functioning and performance of the American economy. 3 hours

4333       REGIONAL ECONOMICS
              This course discusses the factors that affect the size and character of regional economies. Regional Economic
              theory that evaluates the character and health of regional economies is discussed, and the research methods used
              to evaluate specific economies are practiced by analyzing the history, health, and development options of the
              area’s local economy. 3 hours

4880       SPECIAL TOPICS
              Special topics in economics. 1-4 hours (may be repeated for total of 6 hours).

4893       SENIOR SEMINAR IN ECONOMICS ANALYSIS
              Selected topics in economics depending upon instructor and interest of students. 3 hours (may also be taken as
              independent study). Prerequisites:  Senior standing and permission of instructor.

4900       WORKSHOP
              Related topics and problems in economics. 1-6 hours (may be repeated for total of 9 hours with change in title
              and content).

4990       TUTORIAL
              Independent study in economics under faculty supervision. 1-4 hours (may be repeated for a total of 9 hours with
              change in title and content).