Economics



Bachelor of Arts, Bachelor of Science
Major
Bill and Vieve Gore School of Business
Four-Year Degree

Overview

Economics examine the very foundation of life itself: How individuals and societies provide for their material existence. As such, through this program we will explore the causes of both wealth and poverty. Students will be required to post and ask their question like: What are the economic implications of the war on terrorism? How is a market economy organized? Why are unemployment rates higher in Europe than in the US? Why do women on average earn less than men? What do increases in government deficits mean for the economy? Why is consumer spending so important to the economy?

Key Benefits

  • We involve students in real-world applications of theory, such as assessing the value of wilderness or conducting forecasts.
  • We offer students the opportunity to do an internship. Many of our students have found internships with the Governor's Office of Planning and Budget, the Department of Natural Resources, and the State Tax Commission, among others.
  • Economics at Westminster offers a broader perspective than that found at most other academic institutions. This involves exposing students to the different perspectives within economics as well as honing their quantitative skills.
  • Our program offers a strong international component. Three of our economics faculty are from countries outside the US. Moreover, many of our courses deal with important developments ongoing in the world economy: the transition from communism to market-based economies, the market reforms ongoing in China, and a number of special topic courses involving international travel.
  • We offer students a choice of one of two tracks: the Bachelor of Science degree or the Bachelor of Arts degree.

Accreditation Employers Trust

The Bill and Vieve Gore School of Business is nationally accredited by the Association of College Business Schools and Programs (ACBSP).

Other Economics Programs

We also offer an academic minor in Economics. A minor in Economics is an excellent complement to all business majors and many of the majors in arts and sciences.

About the Program

What You'll Learn

Bachelor of Science in Economics

The Bachelor of Science degree emphasizes the relation of economics to business. Economics makes an excellent complement to businesses disciplines. Most business disciplines look at the business from the inside out. Economics looks at business in the context of its relation to other businesses, to the government, to consumers, to employment, and to the evolution of society as a whole. The Bachelor of Science degree also offers students the option to enter the MBA program taking one less class than students would have to take otherwise.

Economics provides excellent preparatory work for business in general. Why? Because Economics provides the basic theoretical construct that underlies many business theories. Students must have a basic foundation in business: principles of management, Marketing, Accounting, and Information Systems. An Economics degree also provides basic skills for making economic forecasts, analyzing quantitative data, and doing regression analysis.

Bachelor of Arts in Economics

The Bachelor of Arts degree emphasizes the relationship to disciplines in the arts and sciences. Students take eight hours in advanced Mathematics, History, Philosophy, and the Social Sciences:
  • Mathematics: Economics uses mathematics--algebra and geometry--in order to present models of economics processes. These models are essentially deductive approaches to economics reasoning.
  • History: Economics is intimately concerned with historical process. An important theme in economics involves understanding how the capitalist system (the market economy plus the associated culture) originated and evolved.
  • Philosophy: Economics originated with Adam Smith, who was a moral philosopher. The grand theories in economics have been referred to as worldly philosophies, insofar as they are concerned with understanding the most worldly of human activities-- our drive for wealth. Many of the questions that economists are concerned with involve issues of both fairness and efficiency.
  • Political Science: All economic theories have implications for policy which necessarily involves government. In fact, economics prior to 1900 was called "political economy."

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    Career Opportunities

    Potential Careers

    Economics provides excellent preparatory work for jobs in business, banking, or government. Economics teaches you to think. It teaches you to look at issues critically, how to analyze an issue and construct an argument, all of which are important job skills.

    Many law schools require or look favorably on an Economics degree. Much of the law is based on economic principles. Many aspects of the law involves economic issues, such as contracts and torts. Economics teaches you both how to follow an analytical argument, as well as how to write, which are both valuable skills in a law practice.

    Approximately half of our graduates in Economics have gone on to graduate school, mostly in law. Our students have also gone on to do graduate work in Economics, MBA, Finance, History, Philosophy, Political Science, and even medical school. Almost every year one or two of our students go on to do Ph.D. work in Economics.

    Tuition and Aid

    There's No Better Investment Than You

    We know you want an education where you matter—a place that will serve as a launchpad for a successful career and a meaningful life. We’ll work with you individually through every step of the financial aid process. From scholarships to grants and loans, we help you make it happen.

    With the highest percentage of students who complete one or more internships in the state, our students hit the ground running with real-world experience. Plus, 90% of our students were either employed or attending graduate school within 5 months of graduating. With a Westminster degree, you don't have to choose between a successful career and a fulfilling life.

    Tuition and Fees (2016–2017)

    Full-Time Annual Tuition (12–16 credits)

    $32,104 ($16,052 per semester)

    Financial Aid

    Average Total Financial Aid

    $26,631 (merit scholarship,work-study, grants and loan funds)

    Scholarships

    You’ll be Automatically Considered for Scholarship and Grant Opportunities

    In addition to general merit scholarships, we have other scholarship programs to support you throughout your time at Westminster.

    View Additional Financial Aid Opportunities

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