Minor in Economics

For Business Majors:

The minor in Economics is available for students majoring in Business.  The goal of the Economics minor for Business majors is to equip students with the analytical and technical tools for careers in the public and private sectors of a dynamically changing global economy.  The Economics minor recognizes the transmission of economic concepts, theories and methods that constitute the necessary knowledge and skills to prepare students for entry level positions in business economics and related fields.

Program Goals

  • Master basic principles of general economics, particularly microeconomics applicable to management of a business;
  • Interpret, analyze, and evaluate evidence to construct valid business arguments;
  • Apply quantitative methods to analyze economic problems and public policy issues;
  • Formulate and test hypotheses using statistical methods;
  • Use modern technological skills to facilitate the development of solutions in the conduct of business operations;
  • Communicate business analyses effectively.

Learning Outcomes

The student who takes the Economics minor must demonstrate competency in explaining microeconomic theory that is applied to business management and macroeconomic theory regarding money, banking, and monetary policy.  Upon completion of the minor, students will be able to:

  • Formulate economic models for micro- and macro- economic analyses
  • Demonstrate the working of the monetary economy and behavior of economic agents, and how these can be affected by public policy changes
  • Conduct empirical analysis of different economic and business issues
  • Perform descriptive statistics, compute probability, and demonstrate elements of hypothesis testing
  • Analyze the results of statistical procedures and apply optimal quantitative methods to solve daily organization specific problems
  • Use standard computer software packages to analyze data

To complete the minor, fifteen (15) ECON units are required in upper division courses that must be taken in residence.  These units consist of twelve (12) units of required courses and 3 units of electives.  The courses cannot be used to substitute required or elective courses in the Business major.  A 2.00 GPA in ECON courses is also required.

Required Courses
Credit
ECON 306 Applied Business and Economic Statistics
3
ECON 307 Spreadsheet Modeling for Business Decision Analysis
3
ECON 425 Managerial Economics
3
ECON 440 Money and Banking
3
Plus one course from the following
ECON 430 International Economics
3
ECON 441 Microeconomics II
3
ECON 442 Macroeconomics II
3
ECON 467 Economics of the Environment
3
ECON 470 Economics of Development
3
ECON 480 Comparative Economic Systems
3
ECON 481 Economics of the Asian Pacific
3

 

For Non-Business Majors

The Minor in Economics for non-Business majors is available for students majoring in areas other than Business.  The purpose of the minor is to equip students with the analytical and technical tools for careers in the public and private sectors of a dynamically changing global economy.

Students who complete this minor demonstrate competency in explaining micro-economic and macro-economic theories, money, banking, and monetary policy, while demonstrating knowledge in two areas of economics as indicated in the list of economics electives for non-Business majors.

Program Goals

  • Master basic principles of general economics, particularly microeconomics applicable to management of a business;
  • Apply scientific methods to analyze economic problems and public policy issues in order to offer effective solutions;
  • Formulate and test hypotheses using statistical methods;
  • Use modern technological skills to facilitate the development of solutions in the conduct of business operations;
  • Communicate economic analyses effectively;

Learning Outcomes

The program is designed to develop competency to:

  • Demonstrate the working of a typical modern monetary economy in a global setting;
  • Describe the role and function of markets and their participants as consumers and producers in both domestic and global settings;
  • Conduct empirical analyses of economic issues;
  • Consult corporate, governmental, and non-profit organizations;
  • Apply modern technological tools to collect and analyze data;
  • Communicate analyses of economic issues effectively.

A total of fifteen (15) units are required in upper division ECON courses that must be taken in residence.  These units consist of nine (9) units of required courses and six (6) units of elective courses.  To complete this minor, a student must maintain a 2.00 GPA for all ECON courses.

Required Courses
Credit
ECON 440 Money and Banking
3
ECON 441 Microeconomics II
3
ECON 442 Macroeconomics II
3
Plus two courses from the following:
ECON 306 Applied Business and Economic Statistics
3
ECON 307 Spreadsheet Modeling for Business Decision Analysis
3
ECON 425 Managerial Economics
3
ECON 430 International Economics
3
ECON 467 Economics of the Environment
3
ECON 470 Economics of Development
3
ECON 480 Comparative Economic Systems
3
ECON 481 Economics of the Asian Pacific
3