Requirements

Major/Minor

The economics major emphasizes basic economic theory and its applicability to the analysis of problems in the economy and society. Economics majors may elect to earn the Bachelor of Science degree or the Bachelor of Arts degree. Each degree has different requirements.

Major Requirements

Bachelor of Science Degree Economics 190, 191, 260, 365, 366, 367, 370, 371, 376, 462, 480; Business Administration 220. Bachelor of Arts Degree Economics 190, 191, 260, 366, 367, 370, 371, 376, 462, 480; Two political science courses at the 200 level or above. Students intending to pursue graduate study in economics are strongly recommended to complete Mathematics 261 and 262. The satisfactory/fail grade option may be used in only one repeated course required for the major. A minimum of one half of the courses in the major field must be completed at Dominican University.

Minor Requirements

Six economics courses listed under major requirements or five economics courses and one course chosen from Economics 260 or Political Science 280, 320 or 385. The satisfactory/fail grade option may be used in only one repeated course required for the minor. A minimum of one half of the courses in the minor field must be completed at Dominican.

COURSES 190. PRINCIPLES OF MICROECONOMICS (3)
An introduction to economic theory and economic analysis of the American economy with emphasis on microeconomics —the price system, product and input market analysis. This course will satisfy the social science core area requirement.

191. PRINCIPLES OF MACROECONOMICS (3)
An introduction to economic theory and economic analysis of the American economy with emphasis on macroeconomics—national income analysis, fiscal and monetary policy. This course will satisfy the social science core area requirement.

260. STATISTICS FOR BUSINESS AND ECONOMICS (3)
An introduction to basic concepts and procedures including measure of central tendency and variability, probability sampling distributions, hypothesis testing, correlation and regression, and nonparametric methods. Prerequisites: Computer Information Systems 120; Mathematics 170 or equivalent is recommended.

365. APPLIED RESEARCH METHODS (3)
A study of the application of statistical research to the definition and resolution of financial marketing and economic business problems. The course will cover research design, sampling theory, methods of data collection, the use of statistical techniques in the data analysis, and introduce forecasting models. Prerequisites: Economics 260 and Computer Information Systems 120 Listed also as Business Administration 365.

366. AMERICAN ECONOMIC HISTORY (3)
The market and non-market forces and personalities shaping the development of the American economy from the colonial period through the early 1950s. Prerequisites: Economics 190 and 191 This course will satisfy the social science core area requirement.

367. FINANCIAL MARKETS ANDINSTITUTIONS (3)
This course examines money and capital markets, the instruments traded in these markets and the major financial institutions and regulation of these markets. The first part of the course explores market forces, determining the level and structure of interest rates. In the second part, the money, stock and bond markets as well as the foreign exchange markets and financial derivatives markets are analyzed. The last part of the course examines the changing structure, management and regulation of depository institutions and investment companies. Throughout the course, the emphasis will be on the application of the concepts being learned. Prerequisite: Economics 190 This course will satisfy the social science core area requirement.

370. INTERMEDIATE PRICE THEORY: MICROECONOMICS (3)
The mechanism of a free market economy. The theory of price and output as determined under conditions of perfect competition, monopoly and monopolistic competition. Prerequisite: Economics 190

371. INTERMEDIATE INCOME THEORY: MACROECONOMICS (3)
Theoretical study of questions concerning the economy as a whole: national income, consumption, investment, the role of government, monetary flows and national economic growth. Prerequisites: Economics 190

376. INTERNATIONAL ECONOMICS (3)
The course examines why nations trade, what determines the basis and direction of trade, who gains or loses from trade and the dynamic nature of comparative advantage. It analyzes how countries try to change their comparative advantage in trade through subsidies, industrial and regulatory policies and tariff and non-tariff barriers. Multilateral and bilateral trade arrangements and the impact of these arrangements are examined. Study of the strengths and weaknesses of fixed and floating rate systems and the factors that affect exchange rates are explored. Prerequisites: Economics 190 and 191 This course will satisfy the social science core area requirement.

450. INDEPENDENT STUDY (3)
Open to juniors and seniors majoring in economics.

455. INTERNSHIP (1-8)
Training in a business organization for a designated number of hours a week under the supervision of a faculty member and the manager of the business. Exposure to various aspects of business, finance or accounting. Prerequisite: Open to juniors and seniors majoring in economics

462. HISTORY OF CONTEMPORARY ECONOMIC THOUGHT (3)
This course offers an examination of the development of economic theory in the 20th century. New classical economics, rational expectations and the natural rate of unemployment are covered. Assessment is made of real business cycle theory, Keynesian, New Keynesian and Post-Keynesian macroeconomic theories, as well as imperfect competition and game theory, the economics of information and human capital theory. Prerequisites: Economics 190 and 191 This course will satisfy the social science core area requirement.

480. MANAGERIAL ECONOMICS (3)
An analysis of the techniques of economic decision making and their relation to business enterprise. Managerial models and applications are investigated and tested. Emphasis upon recent managerial thought. Prerequisites: Economics 190 and 260 This course will satisfy the social science core area requirement.