Economics Major and Minor Requirements

Department: Economics, Business, and Accounting 
Department Chair: S. Scheer 
Department Members: C. Evert, C. Fleming, E. Jones, S. Scheer, J. Squires 

Major: Economics (Tracks: Traditional and Graduate School Preparation) and Political Economy 
Minor: Economics and Political Economy 

The department provides theoretical and practical education in these programs: economics, business, and accounting. Majors and minors are offered in each of these programs. 

The economics curriculum is designed to provide majors with sufficient knowledge, skills, and experiences in their chosen discipline so they can understand and apply economic analysis. The program offers courses that survey the various sub disciplines within economics, develop the analytical skills necessary to “do” economics, and provide, by way of assignments and experiences, opportunities for using the knowledge and skills. Students completing the major will then be in a position to take the next step in their careers, whether it be employment in business or government, continued education in law or other graduate schools, or family and community service. 

Franklin College’s interdisciplinary major, the political economy examines the relationship between politics and economics in modern societies and focuses on problems of both domestic and international policy. Students study the political and economic factors that affect, and are affected by, systems of production, exchange, and distribution, that is, political economy analyzes how international and domestic political factors interact with micro- and macro-economic factors to determine outcomes in a wide variety of areas including globalization, international trade and finance, regulation, development, taxes, and income distribution. As a result, students will be able to think logically and analytically about the problems that face humankind internationally and domestically. They will be prepared for law school, graduate school and employment by private sectors and government at the local, state, and federal levels, as well as careers in teaching. 

A major or minor in economics or political economy requires the student to have a minimum graduation GPA of 2.00 (A=4.00) in all required major/minor courses and to complete with grades of C- or better all coursework for the major, minor, and related field. Furthermore, regardless of major, all students taking economics courses must complete all prerequisites with a C- or better. 

Students who excel in the program have the opportunity to join Delta Mu Delta, the national business honor society. Juniors and seniors who have earned an overall GPA of 3.3 at the time of invitation are eligible to join. Additionally, many scholarships are available to students who excel in the program. 

Note: Economics and Political Economy majors and minors must complete MAT 131 (except Graduate School Preparation Track), ECO 115 and ECO 225 with a ‘C-’ or better before enrolling in 300 or 400 level course in the department.  

Economics Major – Traditional Track 
This track provides students with a broader and deeper view of primary area of study in economics. 

Core requirements 
ECO 115 Principles of Economics 
ECO 221 Intermediate Microeconomics 
ECO 223 Intermediate Macroeconomics 
ECO 380 Econometrics 
ECO 475 Strategic Implementation Project 
ECO 499 Senior Competency Practicum 
MAT 131 Introduction to Quantitative Analysis 

Four of the following courses 
ECO 300 Topics in Economics 
ECO 330 Money and Banking 
ECO/BUS 340 Business Organization and Public Policy 
ECO/BUS 350 International Business and Finance 
ECO/BUS 360 Labor Economics and Management 
ECO/BUS 362 Consumer Behavior 
BUS 351 Business Finance 
PHL 220 Principles of Ethics 

Professional Development Requirements 
ECO 498 Portfolio 
PDP 200 Preparing for Your Internship 
INT XXX Internship in Economics or related field 

Related field courses required 
ACC 221 Principles of Accounting I 
ACC 235 Data Management and Analysis 
MAT 224 Basic Applied Statistics 
CMP 130 Introduction to Computing 

Economics Major – Graduate School Preparation Track 
This track is designed for students who are interested in graduate school (PhD in economics). Students become ready for graduate work in economics (PhD level) once they complete the track. Note that this track does not require students to apply for graduate school. 

Core requirements/ 
ECO 115 Principles of Economics 
ECO 221 Intermediate Microeconomics 
ECO 223 Intermediate Macroeconomics 
ECO 380 Econometrics 
ECO 475 Strategic Implementation Project 
ECO 499 Senior Competency Practicum 

Four of the following courses 
ECO 300 Topics in Economics 
ECO 330 Money and Banking 
ECO/BUS 350 International Business and Finance 
ECO/BUS 360 Labor Economics and Management 
ECO/BUS 362 Consumer Behavior 
BUS 351 Business Finance 

Professional Development Requirements 
ECO 498 Portfolio 
PDP 200 Preparing for Your Internship 
INT XXX Internship in Economics or related field 

Related field 
Statistics Requirement: 
MAT 224 Basic Applied Statistics 

Mathematics Requirement: all of the following courses 
MAT 135 Calculus 
MAT 142 Calculus II 
MAT 233 Linear Algebra 
MAT 253 Calculus III 
MAT 256 Differential Equations 

Political Economy Major 
Cannot be combined with Economics and/or Political Science majors and/or minors 

Core requirements 
Political Science Field 
POL 110 American National Government 
POL 120 Introduction to International Relations 
POL 130 Introduction to Comparative Politics 
POL 336 Introduction to Public Policy 
POL 360 Social and Political Thought

Economics Field 
ECO 115 Principles of Economics 
ECO 223 Intermediate Macroeconomics 

Statistics Field 
ECO 380 Econometrics 

Senior Capstone Courses 
ECO 475 Strategic Implementation Project 
ECO 499 Senior Competency Practicum or POL 499 Senior Competency Practicum 

Elective courses 
Political Science Field – choose three courses from the following 
POL 316 American Presidency 
POL 317 American Congress 
POL 320 International Security and Conflict Management 
POL 341 International Law and Organizations 
POL 350 Public Administration 
POL 390 American Foreign Policy 
POL 410 American Constitutional Law I: Powers and Duties 
POL 420 American Constitutional Law II: Civil Rights and Liberties 

Economics Field – choose two courses from the following 
ECO 330 Money and Banking 
ECO 350 International Business and Finance 
ECO 360 Labor Economics and Management 

Professional Development Requirement 
PDP 200 Preparing for Your Internship 
INT XXX Internship in Economics or related field (4 credits) or SNR/SNT489 (POL) Senior Internship/Project (4-6 credits) 
ECO 498 Portfolio or POL 498 Portfolio (take with POL 470) 

Related Field Requirement 
MAT 131 Introduction to Quantitative Analysis 
MAT 224 Basic Applied Statistics 

Two of the following courses 
ACC 341 Introduction to Taxation 
BUS 341 Business Law I 
PHL 220 Principles of Ethics 
PSY 320 Social Psychology 
SOC 210 Criminal Justice 
SOC 321 Criminology 
Other course approved by faculty from both political science and economics 

Economics Minor 

Required courses 
ECO 115 Principles of Economics 
ECO 221 Intermediate Microeconomics 
ECO 223 Intermediate Macroeconomics 

Three of the following courses 
ECO 300 Topics in Economics 
ECO 330 Money and Banking 
ECO/BUS 340 Business Organization and Public Policy 
ECO/BUS 350 International Business and Finance 
ECO/BUS 360 Labor Economics and Management 
ECO/BUS 380 Econometrics 

Political Economy Minor 
Cannot be combined with Economics and/or Political Science majors and/or minors 

Core requirements 
Political Science Field 
POL 110 American National Government 
POL 120 Introduction to International Relations 
POL 336 Introduction to Public Policy 

Economics Field 
ECO 115 Principles of Economics 
ECO 223 Intermediate Macroeconomics 

Elective courses 
Political Science Field – choose one course from the following 
POL 130 Introduction to Comparative Politics 
POL 225 State and Local Government 
POL 316 American Presidency 
POL 317 American Congress 
POL 360 Social and Political Thought 

Economics Field – choose one course from the following 
ECO 330 Money and Banking 
ECO 350 International Business and Finance 
ECO 360 Labor Economics and Management 

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