Bachelors (BA) in Economics

Overview

Economics is the study of how individuals and societies strive to meet their material wants and needs. As a social science, it is fundamentally concerned with improving human welfare. To understand the economy, economists draw upon a number of other academic disciplines including philosophy, mathematics, history, and other social sciences. This is done to understand individual and household decision making, the behavior of firms and industries, and the role of government. Economists are active in addressing many of humanity’s most pressing challenges, from escaping poverty to environmental degradation. In keeping with the University's mission, the faculty examine economic topics from a Christian perspective, emphasizing themes such as service, stewardship, and justice. 

The economics major offers a 45–46 semester-hour course of study. During their studies students must complete an internship or original research project. Students that graduate with an economics degree are prepared for careers as economists in the business, non-profit, government, or education sectors. The course of study also prepares students for graduate studies in business administration, economics, law, public policy, and public administration. Like other majors in the College of Business and Economics, it requires completion of general core classes, and specialized selected courses. Students are required to obtain a minimum grade of C- in all courses taken for the major.

Program Objectives

Graduates with a BA in economics will:

  • Develop an understanding of the many ways humans have resolved economic challenges and opportunities, both across time and space
  • Apply economic theory to decision making from the level of the individual to the nation and world
  • Demonstrate strong analytical skills in order to gather, evaluate, and analyze economic data
  • Demonstrate effective writing and presentation skills with respect to economic topics
  • Examine economic issues and controversies from a Christian perspective
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Major Requirements

Complete the following:

Statistical procedures with applications in management and economics. Emphasis on the development of a basic knowledge of the statistical tools available for analysis of problems and decision making. Prerequisites: MATH 180 College Algebra or higher math course, or an SAT math score of 620 or higher or an ACT score of 28 or higher.
This course is designed to prepare students to meet the ethical challenges facing employees in modern business and nonprofit organizations. The course will address moral issues at every organizational level - personal, interpersonal, group, and system wide. Topics will include identifying personal mission and values; developing character; faith in the workplace; ethical perspectives, moral reasoning, and decision-making formats; ethical organizational communication and influence; ethical group behavior and leadership; and the creation of ethical organizational climates. Prerequisite or Co-requisite of BUSN 110.
An introduction to the macro aspects of the social science concerned with the allocation of resources. Consideration is given to the fundamental principles of the economy as a whole, dealing with economic data, behavior, and theory at the aggregate level of the economy. The course studies topics such as government spending, taxation, and monetary policies, as well as events and issues in the global economy. ECON 211 and ECON 212 are complementary courses; however, it is preferred that ECON 211 be taken first.
An introduction to the micro aspects of the social science concerned with the allocation of resources. Consideration is given to the fundamental principles governing production, distribution, consumption, and exchange of wealth. The course studies the behavior of microeconomic units such as individuals, households, firms, and industries. ECON 211 and ECON 212 are complementary courses; however, it is preferred that ECON 211 be taken first. Prerequisites: Students must have completed MATH 180 College Algebra or higher math course, or an SAT math score of 620 or higher or an ACT score of 28 or higher.
This course focuses on the following topics: basic theory of consumer behavior; production and costs; partial equilibrium analysis of pricing in competitive and monopolistic markets; general equilibrium; welfare; and externalities. The approach involves advanced algebra and rigorous application of concepts and methods to the analysis of markets from a decision making perspective. While required for economics majors this course is also valuable for student majoring in finance and management. Prerequisites: ECON 212 Principles of Microeconomics and MATH 190 Precalculus or higher.
The course studies the economy as a whole by examining the national income account, monetary policy and its aggregates such as money supply, price level, and interest rates, and fiscal policy and its aggregates such as real income, consumption, and investment. It covers topics presented in ECON 202 in a more advanced manner. The course will analyze the economy in the long run when prices are flexible, in the very long run with a special emphasis on capital accumulation, and in the short run when prices are sticky. It also discusses the microeconomics behind macroeconomics by analyzing the aggregate consumption function in more detail. Prerequisites: ECON 202 and MATH 190 or higher.
This course deals with the application of statistical techniques to the analysis of economic data. Economists, financial analysts and others rely on econometric methods to estimate relationships and forecast employment, income and other trends. This course emphasizes hands-on application of econometric techniques to a variety of publicly available data. Considerable attention will be paid to the nature and sources of economic data and the application of econometric methods to common questions of value to managers and public decision-makers. Prerequisites: College level statistics course 200 level or higher. Students who've taken PSYC 240 or SOCI 340 must also complete MATH 150 or higher, or have a SAT math score of 620 or higher or have an ACT score of 28 or higher.
An integrative seminar focusing on current issues and developments in the discipline of economics, including discussion of ethical issues and the integration of faith and economics. A research paper is a significant component of the course requirements.¡

Choose 15 semester hours from the following courses:

An overview of the economic role and impact of government, including topics in public finance, fiscal policy, monetary policy, and the banking system, and the economics of regulation. Prerequisites: ECON 211 Principles of Macroeconomics and ECON 212 Principles of Microeconomics.
This course introduces students to causes and consequences of 'the wealth of nations.' Students will learn theories of economic growth and poverty alleviation. Topics to be covered include: globalization, education, international trade, holistic conceptions of development, and the role of institutions. (Identical to INTL 370 and SOCI 370.) Prerequisite: ECON 212 Principles of Microeconomics
This course introduces students to the particular economic challenges and opportunities faced by rural areas, towns, and cities within the United States. Students will gain an understanding of the role of the market, firms,and government as local areas seek to improve the well-being they afford their citizens. Particular attention will be paid to transportation, affordable housing, natural amenities and other contemporary topics. Prerequisite: ECON 212 Principles of Microeconomics
Course provides an overview of international trade and finance. Trade theory is applied to understanding the direction of trade flows, the impact of trade barriers, and the role of bilateral and multilateral trade negotiations. The international finance portion of the course will consider the balance of payments, foreign exchange rates, and the globalization of financial markets. Throughout the course attention will be paid to global and national institutional arrangements which determine and influence trade and financial flows. Prerequisites: ECON 211 Principles of Macroeconomics and ECON 212 Principles of Microeconomics.
Occasional special courses chosen to fit the interests and needs of students and faculty.
This is an exploration of financial markets and institutions. The course will examine the role of depository institutions, insurance companies, investment banks and other financial intermediaries in the global economy. Topics include recent developments in financial markets and in the regulatory environment of these markets and institutions. Prerequisites: ECON 211 Principles of Macroeconomics, ECON 212 Principles of Microeconomics and FINC 260 Business Finance.

Choose one of the following:

A practical application of personal financial management and an introduction to the field of financial planning. Topics include money history, stewardship, budgets, loans, spending, housing, insurance, investments, and retirement. Prerequisite: Business and economics majors only.
The class is a study of limits limits of functions, applications of derivatives, and an introduction to integration. Prerequisite: MATH 190 Precalculus Mathematics or equivalent.
A study of differential and integral calculus for functions of one variable. Additional topics include polar coordinates, infinite series, and parametric equations. Prerequisite: MATH 201 Calculus I.
This course is an extension of MATH 201 and 202 Calculus I and II to functions of more than one variable. Topics include vectors, vector-valued functions, partial derivatives, and multiple integration. Prerequisite: MATH 202 Calculus II.
A study of the theory, methods of solution, and applications of ordinary differential equations and the techniques of linear algebra necessary to accomplish that study. Prerequisite: MATH 202 Calculus II.
A study of matrices and their properties and application, linear transformations, and vector spaces. Prerequisites: MATH 310 Differential Equations with Linear Algebra.
This course explores questions crucial to the virtue tradition: What is a good life? What are virtues? How do virtues contribute to a good life? What is the role of natural law and divine commands in understanding virtues? How does the study of moral philosophy contribute to living well? This course in ethical theory examines the history of the virtue tradition as represented by philosophers such as Plato, Aristotle, Aquinas, Hume and Kant as well as the tradition¿s revival by contemporary philosophers, including Alasdair MacIntyre and Robert Adams. Prerequisite: PHIL 180 Ethics.
A critical study of major social philosophers from Comte to the present. Required for sociology majors. (Identical to SOCI 373) Prerequisite: SOCI 150 Principles of Sociology or PHIL 150 Introduction to Philosophy.
The origins, evolution, structure, and present functions of state, county, and city government, with particular reference to Oregon. Special attention is given to the rising problems of urban government and regional planning.
A survey of the major developments in U.S. political theory from the Puritans to the present. The relationship between Christianity and American political theory is given special attention. (Identical to HIST 300 and PHIL 300.)
Examines the nature, causes, and consequences of inequality in society. An understanding of how social resources are distributed, and the resulting distribution of life chances, is central to understanding the fundamental bases of social order and social organization. This course takes a sociological approach to the study of inequality in which we argue that inequality is a characteristic of societies, not individuals.

Complete 3 semester hours in one of the following:

Students will conduct an original research project that is overseen by a faculty member or approved party outside of the University. Prerequisites: upper division economics majors and by permission.
Supervised experiences in business, financial and research firms, and government agencies. Pass/No Pass. Prerequisite: upper-division students and by permission.