2006 - 2007 Economics Program (ECON)

Program Goals | Program Requirements | Bachelor of Science | Plan of Study for BS | Bachelor of Arts | Plan of Study for BA | BA Pre-Law | Plan of Study for Pre-Law | Economics Minor | Course Descriptions

Program Director: John Watkins
Faculty: Richard Chapman, Rich Collins, Aric Krause, Michael Mamo, James Seidelman, Christopher Tong, John Watkins, Maria Wrotniak

Program Goals

The Economics Program offers a major and a minor in economics, which prepares students for careers in government, business, banking, and finance. The majors also provide an excellent foundation for graduate work in economics, law, business, philosophy, history, and the social sciences. Students in the Economics Program select a program of study leading to a Bachelor of Arts (B.A.) degree or a Bachelor of Science (B.S.) degree.

The Bachelor of Science in Economics Degree emphasizes the close relationship between economics and business and is designed for students who wish a business background or who wish to follow a planned progression into the Accelerated MBA Program for Westminster Students. Students completing the Bachelor of Science degree in Economics should:

• Demonstrate an ability to interpret and analyze quantitative data.
• Demonstrate an ability to analyze economic, social, and business problems from the economic point of view, that is, weigh the costs and benefits.
• Demonstrate an appreciation of the historical, cultural, and institutional foundations of the economy.
• Demonstrate understanding of the policy implications of economic theories.
• Demonstrate an appreciation for how economics integrates with business.

The Bachelor of Arts in Economics has two major options for students to consider. The B.A. in Economics incorporates a significant liberal arts component emphasizing the close relationship between economics and the liberal arts. In consultation with the economics faculty, students may tailor their majors to their interests by selecting courses in the following areas: political science, sociology, psychology, anthropology, history, philosophy, mathematics, and other arts and sciences courses as approved by the economics program director. Courses need not be restricted to one area. Students completing the Bachelor of Arts degree in Economics should:

• Demonstrate an ability to interpret and analyze quantitative data.
• Demonstrate an ability to analyze economic, social, and business problems from the economic point of view, which means weighing the costs and benefits.
• Demonstrate an appreciation for the historical, cultural, and institutional foundations of the economy.
• Demonstrate understanding of the policy implications of economic theories.
• Demonstrate an appreciation of how the social sciences, history, and philosophy contribute to an understanding of economics.

The Bachelor of Arts degree in Economics with a Pre-Law Concentration prepares students for graduate work in law or economics. Economics trains students to analyze legal issues in terms of costs and benefits. The extensive use of models helps students to approach problems logically. Moreover, many law schools incorporate economic principles in their approach to the law. The program further requires a minor in English, Philosophy, or business. Students completing the Bachelor of Arts degree in Economics with a Pre-Law Concentration should:

• Demonstrate an ability to interpret and analyze quantitative data.
• Demonstrate an ability to apply economic reasoning to legal issues.
• Demonstrate an ability to communicate effectively.
• Demonstrate an appreciation of the historical, cultural, and institutional foundations of the economy.
• Demonstrate understanding of the policy implications of economic theories.

Students with a strong interest in Economics are invited to join the Westminster Chapter of Omicron Delta Epsilon. Membership is open to students who have completed at least 12 credit hours in economics with a minimum 3.0 GPA in economics and 3.2 in their overall GPA.

Students who wish to participate in the Accelerated MBA Program for Westminster Graduates should consider only the Bachelor of Science in Economics, and should plan to take the GMAT and apply for admission to the MBA program during their senior year. Students are encouraged to meet with their program advisor for specific requirements. Information on the MBA program admission requirements is found in the MBA section of this catalog.

Program Requirements

To fulfill requirements for a major in Economics, students must complete the courses listed below. Students must maintain a 2.3 GPA in courses required for the economics major.

Bachelor of Science in Economics

Note: All students must complete 124 hours of coursework to graduate, 40 hours of which must be upper division (300 level or above). Students may need to take other courses to complete the college hours requirement.

Please refer to the Undergraduate Degree Requirements section of this catalog for information about restrictions when completing a major and a minor or two majors.

Recommended Plan of Study for Bachelor of Science in Economics

Bachelor of Arts in Economics

Students completing the Bachelor of Arts in Economics do not complete the Undergraduate Business Core in Business. The following courses are required in addition to LE courses:

Note: All students must complete 124 hours of coursework to graduate, 40 hours of which must be upper division (300 level or above). Students may need to take other courses to complete the college hours requirement.

Recommended Plan of Study for Bachelor of Arts in Economics

In order to complete all major requirements, Economics majors should plan to take business courses in the following stages, subject to scheduling and availability constraints, in conjunction with other required courses and electives.

Bachelor of Arts in Economics - Pre-Law

Students completing the Bachelor of Arts in Economics with a Pre-Law concentration do not complete the Undergraduate Business Core in Business. The following courses are required in addition to LE requirements.

Note: All students must complete 124 hours of coursework to graduate, 40 hours of which must be upper division (300 level or above). Students may need to take other courses to complete the college hours requirement.

Recommended Plan of Study for Bachelor of Arts in Economics—Pre-Law

In order to complete all major requirements, Economics majors should plan to take business courses in the following stages, subject to scheduling and availability constraints, in conjunction with other required courses and electives.

Economics Minor

Note : Students pursuing a minor in Economics with a major in another Gore School of Business program cannot use their ECON electives in both programs.