Download the Economics Major Handout
The modern economics program at Franklin College is designed to respond to a rapidly changing economic situation in the world. The program emphasizes economic theories and practice, including decision making and policy, as well as a variety of specialty areas shown below.
This program also provides students with opportunities to learn professional research methods (econometrics) employed in modern economics and to conduct real economic research as a senior capstone course. Both opportunities are offered in response to the increasing importance of data analysis skills in the workplace, graduate school and government offices. The program, therefore, helps students to enhance their ability to develop their knowledge and ability to think logically and apply economic theories to real economic and business problems.
The economics program has two tracks, the “traditional track” and the “graduate school preparation track” to meet a variety of student academic and career goals. The traditional track prepares students for a career in business or government, while the graduate school preparation track prepares students for a doctorate program in graduate school or a career in business or government focusing more on research.
Students also have the option of combining economics with related majors or minors, such as mathematics, computing, accounting, marketing, finance, management, quantitative analysis, political science or history.
Economics Major Highlights
Franklin’s EBA programs are built upon a strong liberal arts foundation. This enables our graduates to adjust professionally to changes in business and society in ways that narrowly trained technicians cannot. Our courses emphasize:
- Problem-solving skills
- Data-analysis skills and research capability
- Communication skills: Written and oral
- Teamwork skills
- Confronting current and future ethical issues
- Case studies: Allowing students to practice making the same decisions they will be making throughout their careers
- Pursuit of lifelong learning
“The economics program helps students learn to think in new ways that will help them advance in all aspects of the future.” – Jill Baum ’14
“I wanted a challenging program that would allow me to research topics that I found interesting while also providing a unique and individualized learning experience. What I found was much more. Through this program, I was able to focus on real-world issues, develop my academic skills and pursue my field of passion.“ – Jeff Murr ’13
Outcomes and Placements
The job placement rate for economics, business and accounting (EBA) graduates is approximately 95 percent. While almost all our graduates choose full-time employment in their chosen field, some opt for graduate school or law school. Previous graduates have been hired and, in some instances, have risen to partner status, at firms such as:
- Cummins Inc.
- Simon Properties
- Aeon Corp, Japan
- Celadon Trucking
- Wells Fargo
- PNC Bank
- BKD Accounting Firm
- DOZ Accounting Firm
- Gauthier & Kimmerling Accounting Firm
- University of Kansas (Phd in economics)
- Ohio State University (PhD in statistics)
- Indiana University School of Law
- Butler University (MBA)
Professional experience is a key factor in the development of successful executives; therefore, we require one internship of all EBA majors and recommend the completion of two. Internships usually take place during Winter Term, but summer internships are often available to students who desire a longer work experience. Past examples include Deloitte Touche Tohmatsu, Cummins Inc., Simon & Associates and ESPN Radio 1000, Chicago. Research internship is also available for economics major students at Franklin College or other universities.
Each year since 1994, Franklin College seniors have taken the Major Field Achievement Test, covering all their knowledge in economics, business and accounting. In almost all of those years, the students have scored at or above the top 10 percent nationwide, including several years in the top 1percent nationwide of all colleges taking the exam. Also economics major students successfully present their own unique research in the economics seminar and the Butler Undergraduate Research Conference every year, to which they receive high reputation.
The Franklin College Difference
Franklin College professors teach more than just facts and theories. They believe that professional success comes from four factors emphasized in all of the EBA courses:
- Content – You have to have a solid understanding in the fundamentals of all EBA subjects, regardless of what your job is. The era of very narrow specialization is over.
- Process – The world of EBA changes rapidly. You must learn to think like an economist, businessperson and accountant.
- Mastering this will allow you to adapt to any changes that occur in your profession. You will have to develop a passion for lifelong learning if you want to succeed in the long run.
- Attitude – You will have ample opportunity in our classes to develop the professionalism and work ethic that will help position you for the job you want, and lead you to future success.
- Ethics – Content, process and attitude are diminished without a firm grounding in ethical principles. Ben Franklin called them virtues – humility, sincerity and justice are a few. These ethical principles are an integral part of all EBA classes at Franklin College.