Sound EconomicsSound Economics
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Economics focuses on decision making and problem solving. It concerns itself with making intelligent individual and social choices in a world of scarcity. The department believes that a student who spends four years wrestling with economic issues and developing the analytical tools necessary to resolve them will emerge with sharpened reasoning and communication skills and will be more alert to the complexities of the world.
The mission of the economics program is to educate undergraduates in the fundamental concepts and methods of economics and to help them become better informed and more productive citizens. Learning outcomes for students include the development of sufficient facility with the tools of economics to critically analyze private and public decision-making processes, contemporary and historical socioeconomic issues, and the fundamental role that economic forces play in society.
The programs in economics are designed to provide students with a strong background in economic theory and applied analysis. The department offers majors leading to both the Bachelor of Science and Bachelor of Arts degrees in economics, as well as a minor. The BA degree is designed for students seeking broad preparation in more than a single area and is often combined with second majors in international political economy, politics and government, or business. The BS degree is designed for students with strong quantitative skills or those with an interest in graduate study in economics or applied mathematics.
All economics students should: (1) develop sufficient facility with the tools of economics to be able to critically analyze private and public decision-making processes and contemporary and historical socioeconomic issues, and (2) understand the fundamental role that economic forces play in society.
Economics majors should demonstrate the ability to: (1) understand and manipulate complex economic models and draw meaningful connections between these models and empirical applications; (2) conduct an empirical economic research project and convey the findings effectively, both orally and in writing;(3) develop the implications of alternative policy choices by application of microeconomics and macroeconomics; (4) understand and critique recent economic research; (5) be aware of recent developments in the U.S. and world economy; and (6) acquire skills appropriate to their career goals.
Economics majors should develop excellent communications skills, including the ability to communicate effectively both orally and in writing. Using these skills, they should be competent to convey: (1) their understanding of the technical aspects of economics, (2) the results of empirical analysis and applied theory, and (3) their familiarity with economic events.
In addition, economics majors planning to undertake graduate study should develop expertise in mathematics, mathematical economics, and econometrics.
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Top row (left to right): Matt Warning, Lisa Nunn, Lea Fortmann; Middle row (left to right): Kate Stirling, Andrew Monaco, Garrett Milam; Front row (left to right): Bruce Mann, Peter Sullivan, Wade Hands, Isha Rajbhandari