Economics
Mission
The mission of the Department of Business is to provide experienced, skilled and supportive faculty who offer relevant curricula that will help prepare students to thrive in and face the challenges of an ever-changing world. More specifically, the department strives:
- To prepare students for ethically and socially responsible roles in business, not-for-profit organizations, and society in general;
- To develop in students the ability to recognize, analyze, and solve problems;
- To prepare students to speak and present in front of various audiences in an articulate and compelling manner;
- To help students achieve their personal and career goals; and
- To prepare students for entry-level positions in either the private or public sector and/or to prepare students for coursework at the graduate level.
Minor Description
The Economics minor provides students with a foundation in economic theory and analysis with courses in Macroeconomics and Microeconomics. Students build on that foundation by learning to apply concepts, techniques and analysis in courses such as Environmental Economics, Ecological Economics, Economic Development of the United States, Health Economics, Money Credit and Banking, International Trade and Finance, Evolution of Modern Economic Theory, and International Political Economy.
Curricular Requirements
A student with a major other than Business Administration may, with the permission of the academic director, minor in Economics. Students with a major in Business Administration may pursue one of the concentrations within the business administration degree, including but not limited to: management, marketing, economics, international business, social innovation, and entrepreneurship, or health sector management.
| Required Courses | Credits |
|---|---|
| BUEC 203 - Macroeconomics | 3 |
| BUEC 204 - Microeconomics | 3 |
| Plus four 300- or 400-level Economics courses as prescribed below. Economic courses may include but are not limited to the following: | |
| BUEC 365 - Evolution of Economic Theory | 3 |
| BUEC 370 - Money Credit and Banking | 3 |
| BUEC 375 - International Trade and Finance | 3 |
| BUEC 380 - Economic Development of the U.S. | 3 |
| BUEC 385 - Health Economics | 3 |
| BUEC 390/ENV 324 - Environmental Economics | 3 |
| BUEC 395 - Ecological Economics | 3 |
| PSC 322 - International Political Economy | 3 |
| Total Credits | 18 |
Academic and Technical Standards
Economic minors must earn a minimum of a 2.0 GPA ("C") in the two required courses and the four 300- or 400-level economics elective courses.
Accreditation
All degree programs offered by the Department of Business are accredited by The New England Association of Schools and Colleges (NEASC). The Business Administration Degree Program in the Department of Business is additionally accredited by the Accreditation Council for Business Schools and Programs (ACBSP).
Learning Outcomes
- Explain how individuals and businesses respond to market incentives and how incentives resolve in real-world situations.
- Demonstrate the conditions under which the market allocates resources efficiently and under what conditions it fails to produce socially optimal outcomes.
- Demonstrate the assumptions, limitations, and applications of the neoclassical school of thought reflected in both micro and macroeconomic models.
- Identify and explain the key concepts in macroeconomic analysis and be able to demonstrate how they are impacted by external events and policy using Keynesian and Classical models.
- Explain the factors that have determined productivity trends in the history of U.S. economic development with reference to theory and empirical data.
Transfer Credits
Admissions
Financial Information
TUITION AND FEES
Tuition and fees for subsequent years may vary. Other expenses include books and housing. For more information regarding tuition and fees, please consult the Financial Information section of this catalog.