Overview
Economists study how society distributes scarce resources such as land, labor, raw materials, and machinery to produce goods and services. They conduct research, collect and analyze data, monitor economic trends, and develop forecasts.
They research issues such as energy costs, inflation, interest rates, imports, or employment levels.
Most economists are concerned with practical applications of economic policy. They use their understanding of economic relationships to advise businesses and other organizations ,including insurance companies, banks, securities firms, industry and trade associations, labor unions, and government agencies.
Economists use mathematical models to develop programs predicting answers to questions such as the nature and length of business cycles, the effects of a specific rate of inflation on the economy, or the effects of tax legislation on unemployment levels.
Economists devise methods and procedures for obtaining the data they need. For example, sampling techniques may be used to conduct a survey, and various mathematical modeling techniques may be used to develop forecasts. Preparing reports on research results is an important part of an economist's job. Relevant data must be reviewed and analyze, applicable tables and charts prepared, and the results presented in clear, concise language that can be understood by non-economists. Presenting economic and statistical concepts in a meaningful way is particularly important for economists whose research is directed toward making policies for an organization.
Economics Major Requirements
Finance Concentration
Principles / 8 credits (Choose one combination):
1. ECON 255JG: Principles of Macroeconomics and ECON 256J: Principles of Microeconomics
2. ECON 240J: Principles of Economics and ECON 121J: Scarcity and Social Justice
3. ECON 240J: Principles of Economics and ECON 290G: The Global Economy
Intermediate / 8 credits
ECON 350: The Economics of Labor, Poverty, Income Distribution
ECON 460: Money Banking and International Capital Markets
Methodology / 12 credits
SS 368 U Social Science Research Methods
SS 369 Social Science Statistics
SS 484 KX COR III Senior Social Science Seminar
Electives / 8 credits
Eight additional credits in ECON prefixed courses beyond the common introductory and intermediate courses
Total Credits: 36
Interdisciplinary Requirements / 15 credits
MATH 122 Finite Math
BUS 29 Integrated BUS Sem 1-A
BUS 299 Integrated BUS Sem 1-B
BUS 398 Integrated BUS SEM 3-A
BUS 399 Integratead BUS SEM 3-B
Three credits of one: BUS 411 Intermediate Corporate Finance or BUS 412 Investments
Total Credits for Major: 54
Political Economy Concentration
Principles / 8 credits / Choose one combination
1. ECON 255JG: Principles of Macroeconomics and ECON 256J: Principles of Microeconomics
2. ECON 240J: Prinicples of Economics and ECON 121J: Scarcity and Social Justice
3. ECON 240J: Principls of Economics and ECON 290G: The Global Economy
Intermediate / 8 credits
ECON 350: The Economics of Labor, Poverty, Income Distribution
ECON 460: Money Banking and International Capital Markets
Methodology / 12 credits
SS 368 U: Social Science Research Methods
SS 369: Social Science Statistics
SS 484 KX COR III: Senior Social Science Seminar
Electives / 4 credits
Four additional credits in ECON prefixed courses beyond the common introductory and intermediate courses.
Total Credits: 32
Interdisciplinary Requirements
8 credits: PS 210 Introduction to International Relations and PS 301 Political Ideas
4 credits of one: PS 350 Public Policy Process, PS 351 Select Issues in Public Policy, or PS 364 State and Local Politics
4 credits of one: PS 275 GJ Introduction to Comparative Poiltics, PS 380 Politics of Latin America, or PS 381 Politics of Europe
Total for Major: 48 credits
Quantitative Concentration
Principles / 8 credits / choose one combination
1. ECON 255JG: Principles of Macroeconomics and ECON 256J: Principles of Microeconomics
2. ECON 240J: Principles of Economics and ECON 121J: Scarcity and Social Justice
3. ECON 240J: Principles of Economics and ECON 290G: The Global Economy
Intermediate / 8 credits
ECON 350: The Economics of Labor, Povery, Income Distribution
ECON 460: Money Banking and International Capital Markets
Methodology / 12 credits
SS368U Social Science Research Methods
SS 369 Social Science Statistics
SS 484 KX COR III Senior Social Science Seminar
Electives / 8 credits
Eight additional credits in ECON prefixed courses beyond the common introductory and intermediate courses.
Total Credits: 32
Interdisciplinary Requirements / variable credits 10-15
MATH 114A M Pre-calculus College Algebra (3 cr)
MATH 114B M Pre-calculus Trigonometyr (2 cr)
MATH 122 Finite Math (3 cr)
MATH 231 Calculus I (4 cr)
MATH 341 Linear Algebra (3 cr)
Calculus II recommended
Total Credits: 42 to 50
All Social Science students must maintain a cumulative GPA of at least 2.0. Some majors may require more credits and higher GPA within the degree for completion of the degree. Economics majors must work with their economics faculty advisor to meet discipline specific rquirements for their senior paper. These requirements are in additon to all SS 484 requirements as set forth by the department.
Economics Minor
A minimum of 18 credits in ECON courses to be approved by the Social Science economics faculty advisor. Required courses include:
One of the following combinations at 8 credits:
ECON 255 and ECON 256
ECON 240 and ECON 121
ECON 240 and ECON 290
ECON 350 Labor, Poverty, Income Distribution at 4 credits
A minimum of 6 additional credits in Economics.
Advising Notes
Courses are offered as need arises and rotation is subject to change. However every effort is made to offer the following courses regularly:
Every semester:
ECON 240 Prinicples of Economics
Once per year:
ECON 255 GJ Principles of Macroeconomics
ECON 256J Principles of Microeconomics
Every one to two years:
ECON 350 Economics of Labor, Poverty and Income Distribution
ECON 460 Money, Banking and International Capital Markets
ECON 121 J Scarcity and Social Justice
Contact Information:
Dr. Kevin Biller at biller@edgewood.edu
Dr. Belkis Cerrato at bcerrato@edgewood.edu