Undergraduate Catalog

• Table of Contents
•  |  Undergraduate Programs
•  |  Undergraduate Course Descriptions
•  |  Academic Calendar
•  |  Alphabetical Index

Economics (ECON) Undergraduate Programs

386 STEWART HALL/(320) 308-2227
www.stcloudstate.edu/economics

Also see College of Social Sciences description and requirements.

Chairperson: King Banaian
Faculty: Banaian, Bodvarsson, Edwards, Gallagher, Garcia-Perez, Grossman, Hampton, Hughes, Kang, Komai, Lo, MacDonald, L., MacDonald, R., Moghaddam, Qin, Ratha, Rebeck, Switzer

Economics is concerned with society's arrangements for the production and distribution of goods and services in an environment of scarce resources and unlimited human wants. In the United States with its modified, free-enterprise, capitalistic system, the basic problems are solved by the pricing system. The knowledge of economics as a discipline has expanded greatly during the last forty years, and the means of influencing the level of income, employment, and prices are quite well known. More recent developments in economics have resulted in the more direct application of economics in decision-making in private and public sector organizations. An understanding of economics is necessary for intelligent participation in society.

The major and minor programs in economics offer students a set of required and elective courses designed to provide students a greater understanding of society and a method of thinking useful for a variety of career opportunities. The economics department offers students majors (1) in an economics concentration through a traditional liberal arts program and (2) in a business economics concentration, which provides training in practical problem solving techniques useful in private and public sector decision making as preparation for careers in private business, banking, and government. Economics minors can emphasize studies in applied economics in addition to general economics. Students seeking background in the applied areas should discuss course selection with the Economics Department adviser.

Considerations for Majors and Minors

Some suggested minor programs which complement the economics program are: mathematics, accounting, finance, management, marketing, geography, philosophy, and political science. Those majoring in the above fields and others (community development, environmental and technological studies, international relations, etc.) may find an economics minor to be interesting and rewarding.

Students who are preparing for graduate work in economics are encouraged to take ECON 485 and ECON 486. The following courses are recommended as substitutes for a minor: MATH 221, 222, 312; a one-year sequence of a foreign language.

Economic Education

The Department of Economics is committed to economic education, offering specific courses such as ECON 602, 610, 631, 645, 679 and occasional workshops. For further information, see the description elsewhere in this catalog of the Center for Economic Education - an autonomous university unit of an interdisciplinary nature charged with furthering economic education.

Admission to a Major Program in Economics

To be admitted as a major in economics, a student must satisfy the all-university requirements and complete ECON 205 and 206 with a grade of "C" or better in each course. The prospective major should complete ECON 405 and 406 early in her/his major program. The department requires either MATH 112, 115 or 211. The department recommends students intending to do graduate work in economics take MATH 221 and 222 and consider MATH 312 and 321.

Bachelor of Arts

Major (46)
Economics Concentration
Core (22): ECON 205, 206, 405, 406, 481
MATH 112, 115 or 211; IS 242. Minimum grade of C (2.0) in each of: ECON 405, 406, and 481.
Electives (24): Selected from 400 level ECON courses. ECON 350 or 360 may be substituted for one 400 level course. If approved by the adviser, the following may be substituted for ECON electives: MATH 221*, 222*, 312*, 321*. Alternatively, a maximum of two of the following may be substituted for ECON electives: ANTH 372*; FIRE 371, 373; HIST 345; POL 313*, 380*, 463*; STAT 427*.

Major (49)
Business Economics Concentration
Core (22): ECON 205, 206, 405, 406, 481;
MATH 112, 115 or 211; IS 242. Minimum grade of C (2.0) in each of: ECON 405, 406, and 481.
Required (18): ECON 417, 470; ACCT 291, 292*; FIRE 371, 373.
Electives (9): Selected from 400 level ECON courses. ECON 350 or 360 may be substituted for one 400 level course. A maximum of two of the following non-economics courses may be taken for electives: ANTH 372*; FIRE 471*, 473*, 474*; HIST 345; MGMT 365, 462, 470; STAT 427*, 433*.

The core of both economics concentrations is the principles of economics, intermediate economic theory and the senior seminar. The senior seminar fulfills the university's upper division writing requirement and is mandatory.

The courses with asterisks (*) have prerequisites. Read the catalog course descriptions and see your adviser.

Economics Minor (18)
Required (6): 205, 206.
Electives (12): Electives from 400-level ECON courses or one of ECON 350 or ECON 360.

Elementary Education Minor (18)
Required (9): ECON 201 or 205, and 206, 360.
Electives: ECON 300-400: (9)

Bachelor of Science-Teaching

For those students who would like to prepare to teach economics in the public schools, see the social studies program in this catalog for a description of the social studies major; economics emphasis.

Social Studies Major-Teaching
The Social Studies Education major prepares students for Minnesota licensure as middle/secondary (5-12) social studies teachers. Students selecting this major must complete the General Education program, the Social Studies Licensing Core, one of the emphases in the B.S. Social Studies major designated for licensure, and the Professional Education component.

The following courses make up the University's approved Social Studies Licensing Core:
ANTH: 250; ECON 201; GEOG 253, 270; HIST 140** or 141**, 106* (global only), 385; ETHS 310; POL 195, 251; PSY 240; SOC 160; SST 253, 453.
Many of these social studies licensure core courses may be used in the general education program. (*Students emphasizing history will use HIST 210, 211 and electives in African, Asian, and/or Middle Eastern history instead of HIST 106 (global only). **They will also include both HIST 140 and 141 in their emphasis.)

Individuals who plan to seek this licensure should consult the Director of Social Studies Education in the College of Social Sciences, SH 361, 320-308-5226, immediately upon enrolling at SCSU or changing to this field to determine the current plan for the social studies licensure competencies to be developed and demonstrated. Fifteen credits of coursework at SCSU and a 2.50 GPA at SCSU are required for admission to the Bachelor of Science Social Studies Education (Teaching) major leading to middle/secondary social studies licensure.

Economics Emphasis (21)
Economics Core: ECON 205, 206, 360, 405, 406.
One of ECON 471 or 474, and one of the following: ECON 417, 420, 442, 451, 460, 461, 465, 472, 473.
Note: Students in this emphasis are not required to take ECON 201 in their Social Studies Licensing Core.

Bachelor of Science in Mathematical Economics

Admission requirement: Completion of ECON 205, ECON 206, MATH 221, MATH 222, STAT 229 and STAT 321 with a grade of C or better in each course is required for the admission to the B.S. Mathematical Economics program.

This is an interdisciplinary degree offered by the Department of Economics, the Department of Mathematics and the Department of Statistics and Computer Networking. The program offers students solid training in economic theory and applications of mathematical, statistical and computational methods in economics and other related areas. It is designed to prepare students for technical/research positions in industries (e.g., marketing, banking, finance, etc.), government agencies and other organizations. It will also build a strong foundation for students who are inspired to advance to graduate studies in economics, applied mathematics and statistics and finance engineering.

ECON 497 and 498 satisfy the Upper Division Writing Requirement.

Major (61)
ECON 205, 206, 405, 406, 485, 486; ECON 497 or ECON 498; MATH 221 (5 Cr.), 222 (4 Cr.), 312, 321 (4 Cr.), 353; STAT 229, 304, 321, 417, 421, 447; STAT 427 or ECON 470.

(This program does not offer a minor. All of the above courses are required.)

5 Year B.A./M.S.

The 5-year B.A./M.S. track is a program option available to undergraduates who show the ability and discipline necessary to successfully complete an accelerated combination undergraduate and graduate program in Economics. The track allows a student completing it to receive the BA in Economics and the MS in Applied Economics in 5 years. Students are usually admitted to this track during the sophomore or junior years and are granted early conditional admission to graduate school upon completion of a special undergraduate core program. Students are allowed to take graduate courses prior to completion of the BA and may double-count some credits towards both degrees. For information about the 5-year track, contact the Economics department chair.  Also see the Graduate Catalog.

Internship Program

The internship program of the Department of Economics is designed to give competent, interested students an opportunity to participate in an approved off-campus learning and work situation in an area of interest which relates to the major. The program offers the student a method to relate course work and major requirements to the working world. The program is an extension of the classroom to broaden and deepen the student's understanding of the discipline of economics. See ECON 444 in the course listings. A maximum of three credits may be applied to the elective credits needed in the major program. Any remaining credits apply as general electives toward graduation. Students interested in the internship program should contact the department as early as possible to apply for the program.

Honors in Economics

The department requirements for the major must be met. However, the department honors adviser may make suggestions for possible changes in the major program to tailor the program for individual honor students. Work must be continued with a minimum 3.0 GPA on all subsequent courses taken to remain in the program.

In addition to the above requirements the student must: (1) complete an honor thesis project; and (2) take a comprehensive oral examination in the major area. The thesis project should be selected after consultation with the faculty no later than the beginning of the senior year. The student may register for no more than three credit hours of ECON 499, Honors Thesis, which will be counted as elective credit in the major. The comprehensive oral should be scheduled early in the final semester before graduation. The oral may cover discussion of the thesis project and any part of the major work.

To graduate with department honors the student must satisfactorily complete all requirements in effect at the time of admission to the department honors program and have a grade point average of 3.3 or higher for all college work and a GPA of 3.5 or higher for work completed in the major.