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 ACC/BUS/ECO 150 (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. 144

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 150 Introduction to Quantitative Analysis for Economics, Business, and Accounting
ECO 225 Intermediate Economic Theory
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 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 145

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 225 Intermediate Economic Theory
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
BUS 351 Business Finance
ECO/BUS 362 Consumer Behavior

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 146

Economics Field
ECO 115 Principles of Economics
ECO 225 Intermediate Economic Theory

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
ECO 150 Introduction to Quantitative Analysis for Economics, Business, and Accounting
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 147

Economics Minor

Required courses
ECO 115 Principles of Economics
ECO 225 Intermediate Economic Theory

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 225 Intermediate Economic Theory

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

 

POSTED Dec. 4, 2018