Bachelor in Economics
Economics is a social science that deals with making choices when resources are scarce. In addition to being used in business, economics is used to help the development of lower-income nations, aid nations dealing with problems of unemployment, figure out the best way to improve the environment, understand why consumers buy what they buy, and explain what determines people's income.
About the Major
If you choose to major in Economics, you'll take courses in microeconomics, macroeconomics, research methods, international and comparative economics, and an integrative senior seminar. You will be well-prepared to begin your career or work toward an advanced degree. And if you are considering graduate work, you'll want to include substantial work in mathematics.
For the economics and management economics majors, the department of economics reviews student
learning with respect to the following learning goals:
- Development of analytical and critical thinking skills
- Knowledge in core areas with an integrative view of economic concepts.
- Ability to interpret, analyze and present data
- Demonstrating command of the knowledge through effective communication of written and spoken word, and asking pertinent and constructive questions.
A total of 11 units consisting of the following:
6 units consisting of ECON 110, ECON 251, ECON 252, ECON 255 or ECON 259, ECON 499 and [MATH 105 or MATH 230 or PSYC 210]. A limited number of students each year may complete a senior project and presentation in ECON 355 or ECON 300 8 rather than ECON 499. A grade of C- or better is required in the capstone course—either ECON 499 or the substitute course. It is recommended that the statistics course be completed by the end of the sophomore year, as it is a prerequisite for ECON 251 and ECON 252. Students must pre-register for ECON 499 in the Economics Department in the spring semester of their junior year.
5 upper-level (numbered 250 or above) Economics (ECON) units. Of these five additional units, at least one must come from Group I (Advanced) and one from Group II (International), with the remaining units coming from any other ECON course.
Group I - Advanced Courses
(an Advanced Course is one that has ECON 252 as a prerequisite)
- ECON 372 - International Economics
- ECON 375 - Industrial Organization
- ECON 378 - Public Finance
- ECON 385 - Mathematical Analysis for Economists
- ECON 387 - Introduction to Game Theory
- ECON 300 8 - Behavioral Economics
Group II - International Courses
- ECON 282 - Global Poverty
- ECON 345 - The Economic Growth of Modern Japan
- ECON 353 - Economic Development
- ECON 370 - Economic Systems
- ECON 372 - International Economics
(NOTE: If both ECON 255 and ECON 259 are taken, one will serve as the required course, and the other may be used as one of the electives.)
A maximum of two units from ECON 490 A, ECON 490 B, ECON 491, ECON 495 and ECON 499R may count toward the major. Only one unit of ECON 495 can be counted and BUS 495 does not count toward the Economics major.
Recommended: Substantial work in mathematics is required if considering graduate work in economics.
Majors and minors should be declared no later than the sophomore year. In order to declare a major or minor in Economics, a student must have either a) a 2.5 cumulative University grade point average or b) a 2.0 cumulative University grade point average and have earned a minimum B grade in a course taken in the intended major or minor track.
Double majors in the department are allowed only if one of the majors in Accounting. Some major/ minor combinations are permitted, but a minor in business or economics may not be combined with a major in management economics or international business. Finance majors may not minor in economics, but they may minor in business by taking an extra business course above that otherwise required for the minor.
Students may not count more than two courses in a program when combining programs within the Economics department. For example, a Business Administration major (14 units) completing an Economics minor (7 units), may not count more than two courses for both programs, so additional coursework (beyond 19 units) will be necessary to complete the requirements for this combination of programs.
It is recommended that the statistics course (MATH 105 or MATH 230 or PSYC 210) be completed by the end of the sophomore year. MATH 105 may not be taken for credit after receiving credit for MATH 110 or above. (This includes credit for AP calculus or equivalent.)
Students considering a second economics course should consider courses numbered in the 200s.
All elective courses must be upper-level (numbered 250 and above.) Only one unit of 495 may be counted and a maximum of two units from 490A, 490B, 491, and 495 may be counted toward any major in the Economics department. BUS courses do not count toward the economics major, and ECON courses will not usually count toward the business administration major.
Students must attain a minimum 2.0-grade point average in their major to graduate. Courses eligible to be counted in the major or minor cannot be taken credit/no entry. All pre-requisite courses must be successfully passed with a grade of C- or better to qualify for enrollment in the subsequent course.
A maximum of 13 units of credit in any one discipline (accounting, business, or economics) and 17 total units of credit in the economics department may be counted in the 34 units required for graduation. Additional discipline or department units will result in greater than 34 units required for graduation.
All economics courses (ECON) below the 490 level meet the Social Science distribution requirement (Group I).
A-Levels, International Baccalaureate, Advanced Placement, and Other Credits
Students who pass A-Levels in Economics with a C or better will receive a total of two credits; one for ECON 110 and one general unit of lower-level Economics credit.
Information on credit for International Baccalaureate and Advanced Placement may be found in the Academic Regulations and Procedures section of this Catalog.
Students may use a proficiency examination or an advanced placement examination to meet the requirements of ECON 110. Information on the proficiency examination for ECON 110 will be given during new student orientation. Advanced Placement Rules are listed in the Academic Regulations and Procedures section of this Catalog.
Students who transfer courses to Ohio Wesleyan University should consult with the department chair regarding the appropriate credit to be awarded. If several courses are transferred at less than 1.0 unit (3.75 credits), additional courses may be required. For all majors and minors in the department, a majority of the courses must be completed at OWU.
Undergraduate research is a core part of The OWU Connection, and economics students participate in independent projects and research with faculty mentors throughout the department.
Students can present their research at the annual Student Symposium in the spring.
From your first year on campus, you can get off campus with Travel-Learning Courses or study abroad opportunities - key parts of The OWU Connection. Journey to a distant land and immerse yourself in another landscape and culture.
Economics Management Fellows also travel to New York City and Washington, D.C.
Build your connections to the professional world with internships in diverse workplaces—from Wall Street to San Francisco investment firms.
The Economics Department offers several exciting internships, including opportunities with the Federal Reserve in Washington, D.C. Economics students frequently participate in internships from coast to coast.
OWU faculties are outstanding scholars and researchers—and passionate teachers. They will push you, challenge you, inspire you, and work with you on your own research and creative projects.
They can even pack a 3-minute lecture with ideas, insight, and imagination. Check out our unique I³ lectures.