Economics is the structured study of how people make decisions when faced with scarce resources. When aggregated, these individual decisions constitute markets - the key analytical construct in economics. In practice, economics combines analytical and mathematical models with statistical analysis to understand the functioning of markets, to explain market outcomes, and to prescribe mechanisms such as public policy to improve these outcomes.
The economics concentration at the Honors College combines solid theoretical training with necessary analytical tools. The concentration culminates with the Honors Thesis, which allows students to apply their training to a well-defined topic of their choice. Upon completion of the economics concentration at the Honors College, students will be prepared to pursue careers in a variety of fields or to enter graduate school in Economics or related disciplines such as International Studies, Public Policy, Law, and Business. Students interested in an MBA or courses in business may explore the MBA Pathway andBusiness minor options.
Concentration in Economics
Students take at least 18 credits of elective courses. Students should choose their elective courses in accordance with their general interests and with their proposed Honors Thesis topic. 3-6 credits of these elective courses must be "Interdisciplinary elective courses" and the remaining 12-15 credits must be upper-division (3000-4000) economics courses. Interdisciplinary elective courses must be (i) relevant to students' Honors thesis topic and (ii) must not be used to satisfy a requirement in the Honors Core (but may be an Honors Core course). Elective courses are listed below. Other courses may be used only with the permission of the concentration advisor. Note that 3 credits of Electives may be non-Honors courses without petition to the Concentration Advisory Board. Also, students are reminded that they need 45 upper-level (3000 or 4000-level) credits to graduate.
Thesis Research and Preparation: The capstone to the economics concentration will be an Honors thesis. Every student will be expected to write a thesis proposal in their junior year under the supervision of an HC faculty member. The thesis will be a year long project and will be written in the senior year.
Restrictions: Students must receive a grade of C or above in all concentration courses.
Minor Concentration in Economics
The Economics minor concentration provides students with a background in economic theory and introduces them to a variety of applications in economics the study of individual decision-making and society. A minor concentration in economics could complement any program of study. Students in other concentrations who are ultimately interested in business or law careers should seriously consider a minor concentration in economics (or the Business Administration Minor option).
To complete the economics minor concentration, students complete the following courses totaling 18 credit hours:
- ECO 2013 Honors Principles of Macroeconomics (3 credits)
- ECO 2023 Honors Principles of Microeconomics (3 credits)
- ECO 3101 Honors Intermediate Microeconomics or ECO 3203 Honors Intermediate Macroeconomics (3 credits)
- Three additional 3 credit upper level economics courses (9 credits)
Students must have at least a 2.0 grade point average in all the above courses. Note that 12 of the 18 credit hours for the economics minor concentration must be at the 3000 or 4000 level. At least 50% of these upper level credits must be earned in Honors College courses.
Revised 9/16/2011 and 3/30/2012 (to include MAC 1147). Updated 9-24-12. Prior version is online.