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Economics Minor

Study how scarce resources are allocated to meet economic goals.

Supplement your education with a minor in Economics and gain experience in economic policy and principles.

Program type:
Minor
Format:
On Campus
Est. time to complete:
1-2 years
Credit hours:
20

Why minor in Economics?

When you study economics, you'll investigate the subject from two perspectives. The view from 30,000 feet, or macroeconomics, covers society-wide issues such as inflation, unemployment and economic growth. You'll also study the field on a closer, or microeconomic, level, learning to analyze product pricing, competition between businesses in an industry, and the effects of regulation.

Because you'll perform wide-ranging quantitative and qualitative analysis of economic and social forces as an economics student, this minor is a great launching pad for careers in law, journalism and other fields that demand an understanding of individuals and society - as well as, of course, careers in academia and as professional economist.

What majors pair well with an Economics minor?

Combining an Economics minor with certain majors can enhance your skill set and broaden your career options. Or deepen your expertise with a bachelor’s degree in Economics, Business Economics, or Banking & Financial Economics. Here are some bachelor’s degrees that pair well with an Economics minor:

  • Finance Degree: A Finance degree deepens understanding of financial markets and corporate finance and provides knowledge applicable to economic analysis, particularly in areas like investment analysis and financial management.
  • Mathematics Degree: Math develops strong analytical skills crucial for economic research and data analysis, complementing an Economics minor by providing the quantitative tools necessary for advanced economic modeling and empirical analysis.
  • Political Science Degree: A Political Science major provides insights into how economic policies are formulated and implemented within different political contexts.
  • Data Science Degree: This degree enhances an Economics minor by strengthening the ability to collect, process, and analyze economic data.
  • Environmental Studies Degree: Combining an Environmental Studies major with an Economics minor provides an understanding of environmental challenges and the economic implications of environmental policies.

Economics Minor Courses

ECON 201. Principles of Microeconomics. 3 Credits.

Nature, method, and scope of Economic analysis: economic scarcity, resources, specialization and division of labor, supply and demand, production and cost, technology, product and resource market structures, distribution of income, and international trade. Prerequisite or Corequisite: MATH 103 or MATH 107 or MATH 146 or MATH 165 or MATH 166. F,S,SS.

ECON 202. Principles of Macroeconomics. 3 Credits.

Nature, method, and scope of economic analysis: aggregate levels of income and employment, inflation, monetary and fiscal policy, the role of the U.S. economy as part of a world economic system. Prerequisite: ECON 201. F,S,SS.

ECON 303. Money and Banking. 3 Credits.

Nature of our current Monetary system; functional analysis of commercial bank operations; limits to credit expansion; alternative theories of the value of money; monetary and fiscal policies for control of the business cycle; powers of the Federal Reserve System and the Treasury; mechanics of international payment; balance-of-payments and other problems. Prerequisite: ECON 201 and ECON 202. F,S,SS.

ECON 338. International Economics. 3 Credits.

The course introduces to the students the sources of international trade, traditional international trade model (the Ricardian, the Specific-factors, Heckscher-Ohlin model), movement of labor and capital between countries, new trade theories (increasing returns to scale, monopolistic competition, and offshoring) and trade policies such as tariffs, quotas and export subsidies. Prerequisite: ECON 201 and ECON 202. S.

ECON 405. Bank Regulation. 3 Credits.

The regulations imposed upon the banking industry are examined at several levels: state, federal, and global. Both the historical development of banking regulation as well as current issues/controversies are discussed. In addition, the banker's perspective of regulatory compliance is explored. Prerequisite: ECON 303. S.

ECON 411. Economic Forecasting. 3 Credits.

An introduction to Economics Forecasting and Time Series Analysis. The course will cover specifications and estimation of ARMA models, seasonality, non-stationarity, unit roots and forecast evaluations. Empirical applications are used throughout the course. Prerequisite: ECON 410 or ECON 506. S.

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