Economics (BA/BS)

Do longer prison sentences lower crime rates? Does socialized medicine improve health outcomes? Do lower taxes pay for themselves? Economics affords the intellectual architecture needed to systematically address these types of questions.

The economics discipline provides a rigorous framework for modeling how individuals and institutions make decisions, how these decisions shape our society, and how laws and policies can be designed to improve outcomes. This framework is implemented through advanced quantitative analysis, including statistical methods and data science, and can be used, quite simply, to change the world.

An economics degree indicates proficiency in data analysis, the modeling of behavioral patterns, the analysis of business practices, and the assessment of policy issues and challenges. Equipped with problem solving and analytical reasoning skills, undergraduate students in economics pursue careers in business, finance, data-science, law, government and many other paths, as well as advanced degrees in business, economics, law and public affairs. Economics majors also have the opportunity to complete a master’s degree in economics in just one additional year following their undergraduate studies.

Program Learning Outcomes
Upon successful completion of this program, students will be able to:

• Be proficient in basic microeconomic and macroeconomic concepts.
• Be proficient in microeconomic analysis.
• Be proficient in macroeconomic analysis.
• Use economic data to examine empirical evidence of hypothesized relationships through statistical/econometric techniques.
• Apply the knowledge outlined in goals 1) through 4) to particular issues across various fields in economics.

Learning Outcome Explanations: 

• Proficiency in basic microeconomic and macroeconomic concepts.
• Proficiency in microeconomic analysis. This builds on the microeconomic knowledge required in educational goal 1) and requires the ability to examine models of agents' decisions, including consumer utility maximization and firm profit maximization, using mathematical tools. 
• Proficiency in macroeconomic analysis. This builds on the macroeconomic knowledge required in educational goal 1) and requires knowledge of theoretical models that explain fluctuations in output, employment, the price level, inflation, interest rates, and other macroeconomic variables, as well as the effect of monetary and fiscal policies on these macroeconomic outcomes.
• The ability to use economic data to examine empirical evidence of hypothesized relationships through basic statistical/econometric techniques.
• The ability to apply the knowledge outlined in goals 1) through 4) to particular issues across various fields in economics which may include, for example, environmental, international, labor, or urban economics.