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

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).