econ students studying

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 or Online
Est. time to complete:
1-2 years
Credit hours:
16

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.
  • 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.
  • Business Analytics: A degree in Business Analytics prepares you to lead with data — blending business strategy, technology and hands-on skills for today's data-driven economy.
  • Real Estate: Prepare for diverse career paths, meaningful impact and strong wealth-building potential in the dynamic real estate industry.

Economics Minor Courses

ECON 308. Intermediate Microeconomic Theory. 3 Credits.

Theory of demand, production, and cost; price determination under alternative market structures; general equilibrium and economic welfare; analysis of market failure; applications to public policy. (Core requirement for students planning advanced study in Economics.). Prerequisite: ECON 201 and ECON 202. F.

ECON 309. Intermediate Macroeconomic Theory and Policy. 3 Credits.

A framework for studying national income, employment, and the general price level is developed. Theoretical perspectives on the National Income and Product accounts, expenditures in the public and private sectors of the economy, and supply and demand for money, labor and other resources are surveyed. Macroeconomic Theory is then applied to a study of monetary, fiscal, incomes, and other policies intended to influence unemployment, inflation, balance of international financial payments, and economic growth. (Core requirement for students planning advanced study in Economics.). Prerequisite: ECON 201 and ECON 202. S.

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 410. Empirical Methods in Economics I. 3 Credits.

This course examines the statistical techniques for economic data analyses, estimation of causal effects, hypothesis tests, prediction of economic relationships/theories. Core topics include basic statistical methods and probability distributions, ordinary least squares, multiple regression, non-linear regression, introduction of time-series analysis and problems in their application such as multicollinearity, heteroskedasticity, and dummy variable, among others. As part of the course, students will manage data and estimate regression models using statistical software. Prerequisite: ECON 201, ECON 202 and ECON 210. F.

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