J. Horowitz, Chairperson 

Economics studies how markets coordinate the activities of people and societies as they make the best use of scarce resources.  Economics provides a framework to analyze a wide variety of issues in business, society and politics. For example, economists study everything from business, politics, health, education, poverty, and the environment. Economics majors excel in careers in business, government, law, and education. 

The Department of Economics offers courses in a variety of topics including microeconomics, macroeconomics, money and banking, public finance, labor economics, health economics, international economics, economic development, game theory, and econometrics. Economics majors often double major in related fields such as accounting, actuarial science, finance, management, marketing, mathematics, and political science. For information on the many careers available to economics majors and minors, go to the departmental Web site bsu.edu/economics.

Students majoring in economics may choose from three concentrations and an interdepartmental major in mathematical economics.

  1. Business concentration: Designed for students planning careers in business especially in accounting, finance, management, and marketing. This option requires completion of the core business classes and students can choose from a wide variety of economics classes.
  2. Financial analyst concentration: Designed for students planning careers in financial portfolio management. The Department of Economics is a Chartered Financial Analyst (CFA) recognized department. This option requires completion of the core business classes and students specialize in classes on money and banking and finance.
  3. Liberal arts concentration:  Students in this concentration have three options 1) general economics, 2) law and economics and 3) financial economics. This concentration does not require completion of the core business classes and students can choose from a wide variety of economics classes based on the option they choose. 
  4. Mathematical economics: This interdepartmental major is offered in conjunction with the Department of Mathematical Sciences. Mathematical economics prepares students for careers as economic analysts and for graduate work in economics or related fields. A mathematical economics major also facilitates a double major in either mathematical economics and actuarial science or mathematical economics and mathematical sciences (See Interdepartmental Programs)

Minors in economics are available to majors in the Miller College of Business and all other majors throughout the University. Students in the Social Studies Teaching Major may also select economics as a licensing area.


MAJOR IN ECONOMICS, BUSINESS CONCENTRATION (BA/BS),
69 credits

PREFIX 

NO 

SHORT TITLE 

CREDITS 

Miller College of Business core, 45 credits   

ACC

BL
ECON


FIN
ISOM



MATH
MGT

MKG

201
202
260
201
202
221
300
125
210
249
351
132
300
491
300 

Principles of Accounting 1
Principles of Accounting 2
Principles of Business Law
Elementary Microeconomics
Elementary Macroeconomics
Business Statistics
Principles of Finance
Micro Apps for Business
Business Information Systems
Foundations of Business Comm
Operations Management
Brief Calculus
Managing Behavior in Org
Bus Policy and Strategy Mgt
Principles of Marketing 

3
3
3
3
3
3
3
3
3
3
3
3
3
3
3

     

45 crs
       

ECON
 

301
302 

Intermediate Microeconomics
Intermediate Macroeconomics 

3
3

18 credits from 300-400-level ECON electives (may include the following)   

ACC
 

301
302 

Intermediate Accounting 1 (3)
Intermediate Accounting 2 (3) 

18 

     

69 crs
To pursue this program, students must have sufficient mathematical preparation to meet the prerequisite for ECON 221. The prerequisite for ECON 221 is a C or better grade in MATH 111 or a passing grade (D- or better) in MATH 132, 161, 162, 165, or 166 and a C or higher grade in ISOM 125. MATH 132 simultaneously substitutes for the University Core Curriculum math requirement. All students will be required to take the Major Field Test in Economics before graduation.

MAJOR IN ECONOMICS, FINANCIAL ANALYST CONCENTRATION (BA/BS), 72 credits 

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NO

SHORT TITLE

CREDITS

Miller College of Business core, 45 credits   

ACC

BL
ECON
 
  
FIN 
ISOM 
 
 

MATH
MGT  

MKG

201 
202
260
201
202
221
300
125
210
249
351
132
300
491
300

Principles of Accounting 1
Principles of Accounting 2
Principles of Business Law
Elementary Microeconomics
Elementary Macroeconomics  
Business Statistics 
Principles of Finance
Micro Apps for Business
Business Information Systems
Foundations of Business Comm
Operations Management 
Brief Calculus
Managing Behavior in Org
Bus Policy and Strategy Mgt
Principles of Marketing

3
3
3
3
3
3
3
3
3
3
3
3
3
3
3





45 crs
       

ACC 
  
ECON  
   
  
FIN   
  
  

301 
302
301
302
441
301
310
410

Intermediate Accounting 1
Intermediate Accounting 2
Intermediate Microeconomics
Intermediate Macroeconomics 
The Theory of Monetary Policy
Intermediate Finance
Investments 
Portfolio Management

3
3
3
3
3
3
3
3





24 crs
     
3 credits from    

ACC      
   
ECON 
  
  
FIN

430
440
351
369
424
445

Government and Nonprofit Acctg (3)
Advanced Financial Accounting (3)
International Economics (3) 
Internship in Economics (1-6) 
Econometrics (3) 
Financial Statement Analysis (3)

3





72 crs
To pursue this program, students must have sufficient mathematical preparation to meet the prerequisite for ECON 221. The prerequisite for ECON 221 is a C or better grade in MATH 111 or a passing grade (D- or better) in MATH 132, 161, 162, 165, or 166 and a C or higher grade in ISOM 125. MATH 132 simultaneously substitutes for the University Core Curriculum math requirement. All students will be required to take the Major Field Test in Economics before graduation.

MAJOR IN ECONOMICS, LIBERAL ARTS CONCENTRATION (BA/BS),
33-40 credits

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NO

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CREDITS

Liberal arts core requirements, 18-19 credits   

ECON 
  
  
   


MATH

201
202
301
302
221
or
321
132

Elementary Microeconomics
Elementary Macroeconomics  
Intermediate Microeconomics
Intermediate Macroeconomics 
Business Statistics (3)

Mathematical Statistics (4)
Brief Calculus 

3
3
3
3


3-4
3





18-19 crs
 
Complete general or one concentration
General, 15 credits

9 credits from
300-400-level ECON electives

9

6 credits from
300-400-level ECON


or

ACC
 
FIN
  

201
202
300
320

Principles of Accounting 1 (3) 
Principles of Accounting 2 (3)
Principles of Finance (3)
Markets and Institutions (3)

6





33-34 crs
   
Economics and law concentration, 21 credits   

ECON
PHIL
POLS

346
200
130

Law and Economics
Symbolic Logic  
American National Government  

3
3
3

6 credits from

ECON 
  
  
  
  
  
 

310
311
331
332 
345
351
370

Amer Econ Hist 2: 1860-1990 (3)
Environmental Economics (3)
Labor Economics (3)
Labor Relations and Law (3)
Public Finance (3)
International Economics (3)
Industrial Organization (3)

6

   
6 credits from
300-400 level ECON


or

BL

CJC


POLS

  
  
  
  

260
363
250
350
351
210 
340 
347 
443 
444
455

Principles of Business Law (3)
Uniform Commercial Code (3)
Introduction to Courts (3)
Criminal Evidence Procedure (3)
Criminal Law (3)
Pol Sci Res Methods (3)
Intro to Law and Enforce (3)
Environmental Law and Policy (3)
American Constitutional Law (3)
Constitutional Liberties (3)
Administrative Law (3)

6





39-40 crs
 
Financial economics concentration, 21 credits

ECON

MATH 
ACC


FIN


MATH

424
or
428 
201
202
301
300
310
or
454

Econometrics (3) 

Regression Time Series Models (3)
Principles of Accounting 1
Principles of Accounting 2
Intermediate Accounting 1
Principles of Finance
Investments (3)

Mathematics of Investments (3)

 

3
3
3
3
3


3

     
3 credits from

ACC 
ECON  
FIN
 

302
441
301
410

Intermediate Accounting 2 (3)
The Theory of Monetary Policy (3)
Intermediate Finance (3)
Portfolio Management (3)

3





39-40 crs
To pursue this program, students must have sufficient mathematical preparation to meet the prerequisite for ECON 221. The prerequisite for ECON 221 is a C or better grade in MATH 111 or a passing grade (D- or better) in MATH 132, 161, 162, 165, or 166 and a C or higher grade in ISOM 125. MATH 132 simultaneously substitutes for the University Core Curriculum math requirement. All students will be required to take the Major Field Test in Economics before graduation. The economics and law concentration is appropriate for pre-law students; the financial economics concentration is appropriate for students who are interested in financial analyst careers.

MINOR IN ECONOMICS, 18 credits

Open to both business and non-business majors.

PREFIX 

NO    

SHORT TITLE

CREDITS

ECON

201
202

Elementary Microeconomics
Elementary Macroeconomics  

3
3

12 credits from electives in ECON with at least 9 credits from 300- or 400-level courses

12



18 crs

TEACHER EDUCATION

TEACHING MAJOR IN SOCIAL STUDIES (BA/BS), 99 credits

See Teaching Major in Social Studies, College of Sciences and Humanities, for total requirements for this area. 

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NO    

SHORT TITLE

CREDITS

Economics area, 15 credits

ECON
  
 

201
202
301

Elementary Microeconomics
Elementary Macroeconomics  
Intermediate Microeconomics

3
3
3

6 credits from 300-400-level ECON

6



15 crs

ECONOMICS (ECON)

116 Survey of Economic Ideas (3)
The important conclusions of economics are surveyed and applied to topics chosen by the instructor. Especially valuable to students with no high school background in economics. Not applicable to a major or minor in economics. Core Transfer Library: Behavioral Sciences/Humanities (ISH 1040) 
    Not open to students who have credit in ECON 201 or 202. 

201 Elementary Microeconomics (3)
A study of why people specialize as producers and exchange what they produce with others. Includes analysis of how market structure affects prices. Discusses the issue of whether self-interested economic behavior promotes or hinders society. Core Transfer Library: Behavioral Sciences/Humanities (ISH 1042) 

202 Elementary Macroeconomics (3)
Survey of the major explanations for fluctuations in general business conditions. Focuses on how the private sector's economic behavior is affected by various governmental policies and institutions. Core Transfer Library: Behavioral Sciences/Humanities (ISH 1041)
    
Prerequisite: C or better grade in ECON 201.

221 Business Statistics (3)
Introduction to various statistical and probabilistic concepts and techniques with application to business problems including random variables and probability distributions, measures of central tendency and dispersion, testing of hypotheses, simple linear regression, and correlation.
    Prerequisite: C or better grade in MATH 111, or a passing grade (D- or better) in MATH 132, 161, 162, 165, or 166 and a C or higher grade in ISOM 125.

247 Economics and Statistics in the Media (3)
Provides communications and journalism majors with skills in applying and intuitively understanding statistical and economic concepts. Students will be expected to use these concepts in developing news and feature stories. 

279 Economic and Political Problems of Emerging Nations (3)
A survey of historical and contemporary problems of the less-developed nations. Conditions contributing to economic, political, and social change. Problems of economic development policies and programs within the institutional structure. Internal and external pressures that influence patterns of development. 
    Not open to students who have credit in POLS 281. 

299X Experimental/Developmental Topics (1-6)
Topics relevant to the discipline. Course titles will be announced before each semester. 
    A total of 6 credits may be earned. 

301 Intermediate Microeconomics (3)
An investigation of the ways in which economic units direct resources into production. Involves analyses of product pricing, output determination, resource pricing, and employment in various market structures. Includes graphical and, in some instances, simple algebraic analyses. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202. . 

302 Intermediate Macroeconomics (3)
Analyzes national income as a measure of economic activity. Emphasizes the determination of national income, employment, and price level and the rate of growth of the economic system. Includes examination of the theories of consumption and investment spending, interaction between money and national income, and implications of alternative models for public policy. Includes graphical and, in some instances, simple algebraic analyses. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202. 

309 American Economic History/Development from Origins to the Civil War (3)
An economic history of America from its origins through the Civil War; topics vary, but the subjects usually covered include demography, various forms of labor institutions including slavery, colonialism, the impact of revolution and independence, developments in transport, industry and agriculture, environmental issues, and impacts of war and trade. 
    Prerequisite: minimum grade of C in ECON 116 or 201.

310 American Economic History/Development from the Civil War to the Present (3)
An economic history of America since the Civil War; subjects usually include: the post-Civil War South, money and banking, the Great Depression and the New Deal, urbanization, diseases, demographics, the environment and ecology, developments in transport, industry and agriculture, labor, and the impact of conflicts. 
    Prerequisite: minimum grade of C in ECON 116 or 201.

311 Environmental Economics (3)
Application of economic analysis to pollution, natural resource usage, and sustainability. “Sustainability” expands the concepts of economic growth and optimization to include a balanced set of goals that include environmental carrying capacity, social and intergenerational equity, and community values. 
    Prerequisite: minimum grade of C in ECON 116 or 201 or permission of the instructor. 

321 Advanced Business Statistics (3)
This second course in business statistics focuses on statistical techniques used in business and economics. Topics include categorical data analysis, analysis of variance, multivariate regression analysis, and distinguishing relevant from spurious correlations. Also includes communication skills for explaining statistical results to audiences without knowledge of statistics.        
    Prerequisite: ECON 221 or equivalent or permission of the department chairperson.  

330 Sports Economics (3)
Economics affects sports players, teams, leagues and institutions. The course applies economic principles to sports and covers topics such as the organization of sports, the market for franchises, financing sports venues, ticket prices, labor relations, player drafts, athlete compensation, betting markets, cooperative, collusive and competitive strategic behaviors in sports, and anti-trust issues. Students successfully completing this course will be able to understand and apply economic principles to sports and in their own lives.
    
Prerequisite: ECON 201 and ECON 221.

331 Labor Economics (3)
Students learn how labor is allocated under various institutional settings. Topics include: slavery, labor unions, discrimination, compensating wage differentials, comparable worth, household labor supply decisions, social security, the earned income tax credit, welfare minimum wage laws, immigration, and the differing consequences of allocating labor under communism, socialism, and capitalism. 
    Prerequisite: minimum grade of C in ECON 116 or 201.

332 Labor Relations and Law (3)
Study of collective bargaining, the joint determination by employers and employees (through their representatives) of the problems of the employment relationship—encompassing both the negotiation and administration of the labor agreement with primary emphasis upon the rules governing these processes. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202; or permission of the department chairperson.

345 The Economics of Government Budgets (3)
Analysis of economic theory behind alternative methods of financing government budgets and debt management. Emphasizes economic consequences of budgets by examining incidence, shifting, and incentives regarding provision of public services and alleviation of economic insecurity. 
    Prerequisite: minimum grade of C in ECON 201.

346 Economic Analysis of Legal Issues (3)
Applies microeconomic analysis to legal issues such as property rights, crime, contracts, and liability rules. Strengthens the ability to engage in economic reasoning by demonstrating its applicability to law and economics. 
    Prerequisite: minimum grade of C in ECON 201. 

347 Economics Projects (3)
Immersive economics course where economics students normally partner with students in other disciplines to produce tangible outputs such as films, policy reports, podcasts, websites, articles, public events, and other outputs under the supervision of an economics faculty member. The projects should have a primary economics focus.
    
Prerequisite: ECON 116 or 201 or 247 or permission of the instructor.

348 Health Economics (3)
Examines how institutions and incentives affect the health care choices people make. Topics include the demand and supply of medical care, the effects of health insurance, professional licensing, pharmaceutical regulations, and government involvement in health care.
    Prerequisite: minimum grade of C in ECON 201.

351 International Economics (3)
Examines international trade, finance, and commercial policy. 
    Prerequisite: minimum grade of C in ECON 201

369 Internship in Economics (1-6)
Under a program approved and supervised by the Department of Economics, economics majors or minors work full-time for one semester as economics interns for private or public organizations. Periodic written reports of job experiences are required. 
    Prerequisite: ECON 301 or 302; permission of the department chairperson. 
    A total of 6 credits may be earned. 
    Open only to economics majors or minors and second-semester junior or senior standing. 

370 Industrial Organization (3)
Monopolistic, oligopolistic, and competitive market structures. Unsettled issues concerning structure and conduct of industry; concentration, vertical integration, and problems of economic regulation by the government. 
    Prerequisite: minimum grade of C in ECON 201.

371 Economics Games of Strategy (3)
Explores the strategic interaction of rational decision makers. Students will be introduced to the basic concepts of game theory and explore a variety of applications. Numerous models will be explained and played in the classroom and then evaluated to further understand the nature of strategic human interaction. Advanced students will be encouraged to develop experimental models and then assisted in setting up the virtual laboratory, running the experiments, and evaluating the results.
    
Prerequisite: ECON 201.

380 Economic Growth (3)
An analysis of the causes, mechanisms, and patterns of economic growth. Compares and analyzes growth rates of various countries. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202.

381 Economics for Teachers: Content Issues and Pedagogy (3)
Pre-service teachers explore content and pedagogy issues related to teaching high school economics. Economic content is given by the national and state standards. Explore pre- and post-tests of student mastery of the standards. Explore economic concepts and pedagogies in lesson plans used with students. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202.

390 Honors Colloquium in Economics (1-3)
Exploration of selected issues, themes, problems, or interpretations with emphasis on individualized study and reporting. 
    Restricted to honors students; others by permission of the department chairperson. 
    A total of 3 credits may be earned. 

416 History of Economic Doctrines (3)
The history of how humankind has looked at its economic life, surveys the changing ways economists have rationalized, articulated, and criticized economic organization from biblical times to the present. The successive reformulations place a major emphasis on the economic doctrines of the recent past and the present. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202.

421 Mathematical Economics (3)
Use of mathematics in the development of selected economic theories. Survey of input-output analysis and examination of the application of linear programming and the theory of games to selected economic problems. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202; MATH 132 or its equivalent. 

424 Econometrics (3)
Applies statistical methods to economics. Emphasizes constructing, estimating, and testing economic models. Topics include multiple regression analysis, advanced regression techniques, time series analysis, and forecasting. Considers specific problems that arise in applying these topics to economic and business data.                
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202, and either ECON 321 or MATH 321 or permission of the department chairperson.

441 The Theory of Monetary Policy (3)
A theoretical presentation of how the board of governors of the Federal Reserve System modifies the economic climate within which the institutions of the nation operate and of the problems of government finance as they relate to the board’s goal of general economic stability. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202. 

461 Comparative Economic Systems (3)
Historical and comparative study of economic theories and systems. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202. 

485 Urban Economics (3)
The systematic economic structure of cities and the component parts of that structure. Attention is given to the ways in which the economic structure of cities and regions obstructs or facilitates the attainment of the goals of the community. 
    Prerequisite: minimum grade of in ECON 201. 

492 Readings and Directed Study in Economics (1-3)
Students will pursue their interests in specialized economics subjects under the direction of a member of the economics staff. Subjects studied will differ from or be studied in greater depth than subjects treated in other economics courses. 
    Prerequisite: 6 credits in economics. 
    A total of 6 credits may be earned, but no more than 3 in any one semester or term. 

495 Seminar in Economics (1-3)
Topics center on economic problems and issues of special interest to students and instructor. Permits in-depth studies of topics not formally treated in other courses, thereby exposing interested students to a wider variety of economic problem-solving situations. 
    Prerequisite: ECON 201 with a minimum grade of C; ECON 202; permission of the department chairperson. 
    A total of 6 credits may be earned, but no more than 3 in any one semester or term.