Major Description

The Bachelor of Science degree requires that students concentrate in a particular area of economic analysis: Business Economics, International Economics, or Mathematical Economics. Each path requires five core courses, two allied requirements, three specified electives and two additional elective courses. In particular, the core consists of Principles of Macroeconomics, Principles of Microeconomics, Macroeconomic Theory, Microeconomic Theory, and Introduction to Econometrics. Students must also complete a calculus course and a statistics course. More details regarding the Bachelor of Science core requirements, the three paths, and the requirements of those paths, are listed below.

For majors, a minimum of twenty credits in economics must be completed in the Department of Economics at the University of St. Thomas. 

Major in Economics (B.S.) Requirements

Economics Core Requirements:

• ECON 251 Principles of Macroeconomics
• ECON 252 Principles of Microeconomics
• ECON 315 Introduction to Econometrics
• ECON 351 Macroeconomic Theory
• ECON 352 Microeconomic Theory

Note: Students are strongly encouraged to take ECON 315, 351, and 352 by the end of the junior year.

Allied Requirements:

One of the following:

• MATH 109 Calculus with Review II
• MATH 111 Calculus for Business and Social Science
• MATH 113 Calculus I

Plus one of the following:

• STAT 220 Statistics I
• MATH 303 Statistics for the Applied Sciences
• MATH 313 Probability and STAT 314 Mathematical Statistics

Plus:

• A set of courses in one of the three paths below: Business, International, or Mathematical Economics.

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Business Economics

The Business Economics path is designed for students whose interests include analyzing business situations as well as incorporating a basic foundation in the field of business. This path emphasizes the quantitative skills necessary to understand business forecasting, the structure of the industries within which business function, and the pricing and cost decisions that businesses must make in an uncertain economic environment.

• ECON 311 Forecasting
• ECON 332 Industrial Organization
• ECON 401 Managerial Decision Making

Plus:

• Eight credits in elective economics courses numbered 300 or above

Plus:

• ACCT 210 Introduction to Financial Accounting

Plus two of the following:

• ACCT 215 Managerial Accounting
• FINC 300 Finance for Non-Business Majors
• FINC 321 Financial Management
• MGMT 305 Management and Organizational Behavior

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International Economics

The International Economics path prepares students for careers in which an understanding of the complexities of cultural diversity and international economic relationships is important. this path emphasizes the study of international trade and finance, topics in economic development of third world countries, the relationship between industrialized and emerging economies, as well as the study of the economics of a specific country or region.

Three of the following:

• ECON 341 Economics of International Finance
• ECON 342 International Trade
• ECON 345 Economics of Development and Growth
• ECON 346 Country and Area Studies in Economics

Plus:

• Eight credits in elective economics courses numbered 300 or above

Plus:

• A minor in a foreign language or significant study abroad experience approved by the department chair

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Mathematical Economics

The Mathematical Economics path is designed to serve the needs of students who consider pursuing graduate study in economics. The path emphasizes the quantitative tools that academic economists use and prepares students for the core competencies necessary for graduate study.

• ECON 355 Game Theory
• ECON 418 Mathematical Economics

Plus one of the following:

• ECON 301 History of Economic Thought
• ECON 337 Economics of the Public Sector
• ECON 339 Labor Economics

Plus: