Economics Major
Why study economics at CMU?
The economics program at CMU will help students develop the quantitative and analytical skills necessary for a successful career in economics. Consider these key features distinguishing this program at CMU:
- Exposure to the field of economics through a wide variety of courses
- Opportunities for graduate study in economics, including an accelerated master of arts program
- Professional development through on-campus organizations such as the Economics Club
- More than 90 percent of recent College of Business Administration graduates surveyed were employed within three months of graduation
Career outlook
According to the Bureau of Labor Statistics Occupational Outlook Handbook, for all occupations through the year 2014:
- Employment growth of economists is expected to be the fastest in private industry, especially in management, scientific, and technical consulting services.
- Economists skilled in quantitative techniques and their application to economic modeling and forecasting and who also have good communications skills, should have the best job opportunities.
- Bachelor's degree holders with good quantitative skills and a strong background in mathematics, statistics, survey design, and computer science may take on positions in private firms as researchers.
Career options
Graduates of the economics program at CMU will find a variety of career opportunities. Some of these may require additional education:
- Economist
- Economics Teacher
- Economic Analyst
- Market and Survey Researcher
- Financial Manager
- Financial Analyst
- Management Analyst
- Purchasing Manager
Program Overview
The course listings below are a representation of what this academic program requires.
For a full review of this program in detail please see our official online academic bulletin
AND consult with an academic advisor. This listing does not include the General Education
courses required for all majors and may not include some program specific information, such as admissions, retention, and termination standards.
(Click on the course name or number for a complete course description.)
Economics Major
( Total: 33 semester hours )
(9 hours)
Additional Common Body of Knowledge in Business Administration Courses
3
BUS 100 Essential Business Skills
Introduces students to the concept of a business, its disciplines, and essential business skills including decision making, team work, and oral and written communication.
3
BUS 300 Applied Business Statistics
Applications of statistical analysis to support business decision making. Covers collection of business data, analysis of business datasets, and presentation of results. Prerequisites: STA 282 or 382; Tier 2 Admission to Professional Business Studies.
3
MGT 499 Integrated Capstone-Strategic Management
An integrative capstone course applying and analyzing financial, marketing, supply chain and other business functions within a global strategic management perspective. Prerequisites: 86 semester hours completed; BUS 300, 301; MGT/MKT 303; FIN 302; MKT 304; Tier 2 Admission to Professional Business Studies. Preference given to graduating seniors.
(9 hours)
Required Courses
3
ECO 306 Money and Banking
The nature of money and credit; history, structure, and functions of banking institutions, with emphasis upon Federal Reserve System and questions of appropriate public policy. Prerequisites: ECO 201 or 204; ECO 202 or 203.
3
ECO 365 Intermediate Microeconomic Theory
An intensive treatment of the theories of supply and demand, consumer and producer behavior, market structure, and other micro theories and issues. Prerequisite: ECO 202 or 203.
3
ECO 370 Intermediate Macroeconomic Theory
National income accounting; income, employment, interest rate and inflation theory and policy; theory and problems of economic growth. Prerequisites: ECO 201 or 204; ECO 202 or 203.
Select hours from the following:
3
ECO 301 Environmental Economics
Basic economic understanding of environmental/ecological problems arising from a free enterprise system. Economists' solutions presented without advanced economic theory or mathematical computation. Recommended: ECO 202 or 203.
3
ECO 360 Public Economics
Appropriate and actual roles of government in market economies, and how government influences the use of resources and distribution of income. Prerequisites: ECO 202 or ECO 203.
3
ECO 372 International Economics
Basic background in international trade theory and practices, exchange rates and balance of payments, and international monetary arrangements. Prerequisites: ECO 201 or ECO 204; ECO 202 or ECO 203
3
ECO 385 Introduction to Econometrics
Introduction to the theory and practice of linear regression analysis in economics focusing on single equation methods. Extensive computer applications. Prerequisites: ECO 202 or 203; ECO 285 or STA 282 or STA 382.
3
ECO 410 Government and Business
Relations of industry, especially corporations, to government, antitrust laws and their enforcement; public policy toward business; problems of unfair competition; patents and trademarks. Prerequisites: ECO 202 or ECO 203.
3
ECO 414 Labor Economics
Labor Market operations and wage determination; human capital investment; labor market discrimination; wage differentials; impact of unionization on wages; collective bargaining. Prerequisite: ECO 202 or 203.
3
ECO 425 The Economics of Industrial Organization
Concepts, theories, and evidence which relate industry structure to behavior and performance of firms. Provides a basis for evaluating public policy. Prerequisites: ECO 202 or ECO 203. Recommended: ECO 201 or ECO 204.
3
ECO 440 Managerial Economics
Application of microeconomic theory to a variety of management decisions such as internal resource allocation, pricing, market entry and the boundaries of the firm. Prerequisite: ECO 202 or ECO 203.
3
ECO 532 Economic Forecasting
Nature and causes of economic fluctuations. Methods of predicting price levels and economic activity. Prerequisites: ECO 201 or ECO 204; ECO 202 or ECO 203.
Select 6 hours of ECO courses; 3 hours of ECO courses must be numbered 200 or above.