Economics
Program Description
The Economics Department is committed to providing students with a rigorous and relevant economic education necessary for informed citizenship. The Department is committed to teaching and research, believing that research informs what is taught and how it is taught. For its majors, the Department seeks to develop a deep understanding of how markets and economies work and do not work. Further, the Department seeks to assure that majors and minors are capable of applying the tools of economic reasoning to consider questions of policy, efficiency, and equity.
Why take this major?
Economics is a major which provides students analytical tools to improve decision making and to address real-world problems. This major offers room for double-majoring or multiple minors, as well great flexibility for careers. Students learn to analyze and evaluate macroeconomic issues like the impact of fiscal and monetary policies on inflation and unemployment, and microeconomic issues like how firms decide how much to produce and the impact of taxes and regulations. Emphasis is also placed on considering what policies and actions are consistent with social justice. Some students go on to corporate and non-profit positions. Others go on to graduate programs in law, public policy, applied economics, and PhD programs in economics.
Student Learning Outcomes
- Students will possess the basic knowledge and skills in micro and macro-economic analysis.
- Students will possess the basic quantitative knowledge and skills (statistics and linear regression).
- Students will be able to design a research project to address a particular question and explain the project's relevance.
- Students will be able to develop theoretical expectations in answer to their research question.
- Students will select a research method consistent with the question they seek to answer in their senior seminar research project.
- Students will provide and present a critical review the literature relevant to their research topic.
- Students will present a conclusion appropriate to the project and specify appropriate limitations of those conclusions.
- Students will present a well-organized and well-written research paper containing all the elements mentioned in Learning Goals 4 through 8.
Program Contact Information
Elizabeth A. Paulin, Chair
Hayman Hall, Room 264
(215) 951-1181
Degree Earned
B.A.
Number of Courses Required for Graduation
Major: 15
Total: 38
Number of Credits Required for Graduation
Major: 49
Total: 120
GPA Required for Graduation
Major: 2.0
Cumulative: 2.0
Progress Chart
Level One - Core Courses
12 courses and 2 modules required
Universal Required Courses (4 Courses)
Students must complete the following 4 courses.
ILO 8.1: Written Communication
ENG 110 - College Writing I: Persuasion
ILO 5.1: Information Literacy
ENG 210 - College Writing II: Research
ILO 1.1: Understanding Diverse Perspectives
FYS 130 - First-Year Academic Seminar **
NOTE. The following students use Level 2 Capstone Experience in Major instead of FYS 130: Honors, BUSCA, Core-to-Core, Transfer, and Non-Traditional/Evening.
ILO 2.1: Reflective Thinking and Valuing
REL 100 - Religion Matters
Elective Core Courses (4 Courses)
Students must complete 1 course in each of the following 4 ILOs.
ILO 3.1a: Scientific Reasoning
Choose course within ILO
ILO 3.1b: Quantitative Reasoning
MTH 114 or MTH 120
ILO 6.1: Technological Competency
Choose course within ILO
ILO 8.1a/12.1: Oral Communication/ Collaborative Engagement
Choose course within ILO
Distinct Discipline Core Courses (4 Courses)
Students must complete 1 course in each of the following 4 ILOs. Each course must be from a different discipline. (A "discipline" is represented by the 3- or 4-letter prefix attached to each course.)
ILO 4.1: Critical Analysis and Reasoning
ECN 150
ILO 9.1: Creative and Artistic Expression
Choose course within ILO
ILO 10.1: Ethical Understanding and Reasoning
Choose course within ILO
ILO 11.1: Cultural and Global Awareness and Sensitivity
Choose course within ILO
Universal Required Modules (2 Courses)
Students must complete the following 2 non-credit modules.
The Modules are not required for Transfer Students, Core-to-Core Students, or BUSCA Students. BUSCA students are required to take modules if/when they pursue a bachelor’s degree.
ILO 7.1a
Health Literacy Module
ILO 7.1b
Financial Literacy Module
Major Requirements
Major requirements include 4 Level Two ILO requirements, fulfilled through the major.
Students in this major must complete 38 courses in total in order to graduate. 15 courses will be from this major program.
Level Two (4 Courses)
Students must complete 1 course/learning experience in each of the 4 commitments.
ILO 2.2: Broader Identity (Capstone Course/Experience)
ECN 481 - ILO 2.2
Choose one ILO from 3.2a, 3.2b, 4.2, 5.2, 6.2, 7.2a, or 7.2b: Expanded Literacies
ECN 213 - ILO 3.2b
ILO 8.2b: Effective Expression (Writing-Intensive Course)
ECN 214 - ILO 8.2b
Choose on ILO from 10.2, 11.2, or 12.2: Active Responsibility
ECN 221 - ILO 10.2
All Other Required Courses
ECN 150 - Introductory Macroeconomics: The U.S. in the Global Economy I
ECN 201 - Introductory Microeconomics: Business Firm and Market Analysis I
ECN 213 - Statistics for Economics and Political Science
ECN 314 - Econometrics
ECN 221 - Intermediate Microeconomics: Business Firm and Market Analysis II
ECN 222 - Intermediate Macroeconomics: The U.S. in the Global Economy II
ECN 441 - History of Economic Thought
ECN 481 - Seminar in Economics
Five ECN electives
MTH 114 or MTH 120
One additional Social Science course
Free Electives
In addition to the requirements listed above, students must take enough courses to the fulfill graduation credit requirements for their School and major.
Dual Major Requirements
12 courses, 2 ECN electives are waived as is the extra Social Science course.
Minor Requirements
Any 6 ECN courses. BUS 202 counts as a substitute for ECN 213 and can be counted towards the minor.
Recommended Course Sequence
The suggestion below is merely a suggestion. Because many students double major or change majors and arrive in the ECN Department as sophomores or juniors, the suggested order and timing is not all that common among students.
Freshman Year:
ECN 150 - Introductory Macroeconomics: The U.S. In the Global Economy I
ECN 201 - Introductory Microeconomics: The Business Firm and Market Analysis I
MTH 114 or MTH 120 A calculus-based math course
Sophomore Year
ECN 213 - Statistics for Economics and Political Science
ECN 314 - Econometrics
ECN 221 - Intermediate Microeconomics: The Business Firm & Market Analysis II
ECN 222 - Intermediate Macroeconomics: The U.S. In the Globla Economy II
Junior Year
ECN 441
At least 3 other ECN electives
The additional Social Science elective
Senior Year
ECN 481 - Economics Seminar
Two additional ECN electives
Course Descriptions
ECN 150 - Introductory Macroeconomics: The U.S. in the Global Economy I
After introducing students to the what and how of economic thinking, the course explores the causes of national economic prosperity and economic problems such as unemployment and inflation. It also discusses the role of fiscal and monetary policies, economic growth, and international economic relations among the U.S. and other countries.
Number of Credits: 3
When Offered: Fall, Spring, Summer
How Offered: Face-to-Face, Online
ILO Met: ILO 4.1 - Critical Analysis and Reasoning
ECN 201 - Introductory Microeconomics: Business Firm and Market Analysis I
This course explores many issues pertaining to the operation of businesses and the markets in which they operate. Among these are the behavior of consumers, the determinants of prices and production levels, and the efficiency of market outcomes. As time allows, the course applies economic thinking to issues like economic inequality, environmental concerns, international trade, and firms with monopoly power.
Number of Credits: 3
When Offered: Fall, Spring, Summer
How Offered: Face-to-Face
Prerequisites: ECN 150
ECN 221 - Intermediate Microeconomics: Business Firm and Market Analysis II
This course studies how business firms interact with consumers and one another in product and resource markets. Besides distilling profit-maximizing criteria for different firms in different markets, the course also evaluates how the operation of firms impacts the welfare of society in general.
Number of Credits: 4
When Offered: Fall
How Offered: Face-to-Face
Prerequisites: ECN 201; MTH 114 or 120 or equivalent
ECN 222 - Intermediate Macroeconomics: The U.S. in the Global Economy II
This course analyzes the factors behind countries' long-term growth and also those responsible for short-term fluctuations in their levels of output and prices. It also demonstrates how economic booms and busts have prompted economists to search for explanations and possible policies for addressing these instabilities. Finally, the course compares and contrasts U.S. historical experience with that of other nations.
Number of Credits: 4
When Offered: Spring
How Offered: Face-to-Face
Prerequisites: ECN 150; MTH 114 or 120 or equivalent
ECN 270, 370, 470 - Special Topics in Economics
Topics include Labor Markets, Employment and Wages; Women in the Economy; European Union; Economics of Sports; Economics of Entertainment; and Law and Economics.
Number of Credits: 3
Prerequisites: Permission of instructor
ECN 287, 288 - Economics Internship
Working approximately 10 to 15 hours per week under professional supervision, students learn experientially the linkages between their formal studies and the demands of particular positions. Under faculty supervision, students complete informal and formal written assignments and an oral presentation that describe their duties and interpret their intern experience.
Number of Credits: 3 or 6
When Offered: Fall, Spring, Summer
Prerequisites: ECN 201, at least sophomore standing, and permission of Department Chair
ECN 314 - Econometrics
This course introduces the student to advanced statistical techniques used by economists, other social scientists, and people in business and law to test theories, predict future events, and provide empirical support for various types of hypotheses. The course emphasizes the applied nature of econometrics. As such, the student will construct, estimate, and evaluate well-specified regression models through computer application-based exercises using SAS statistical software.
Number of Credits: 4
When Offered: Spring
How Offered: Face-to-Face
Prerequisites: ECN 213 or BUS 202 or permission of Chair
ECN 331 - International Economics
This course involves an introduction to the theory of international trade. Topics include specialization and the gains from trade, tariffs, and protectionist policies, trade imbalances, the role of international institutions, foreign exchange markets, and monetary and fiscal policies in an open economy.
Number of Credits: 3
When Offered: Fall
How Offered: Face-to-Face
Prerequisites: ECN 150 and ECN 201
ECN 332 - Political Economy of Africa
This course examines the political and economic conditions in Sub-Saharan Africa and provides a historical perspective on these conditions. Issues examined include the political and economic consequences of colonialism, post-independence political forces and economic policies, and U.S. foreign policy toward Africa.
Number of Credits: 3
When Offered: Spring
How Offered: Face-to-Face
Prerequisites: ECN 150
ECN 334 - The Political Economy of Latin America
This course begins by examining aspects of the indigenous societies prior to the arrival of Europeans in what has come to be called "Latin America." Throughout, it considers issues such as colonialism, militarism, race, gender relations, and religion that have shaped the societies, polities, and economies of nations from Mexico and the Caribbean to those of the Southern Cone. The goal of the course is to afford class members the opportunity to better understand Latin America's history as a basis for comprehending its likely future. Cross-listed with HIS334 and POL 334.
Number of Credits: 3
ECN 335 - International Trade and Trade Wars
This course provides an overview of the U.S. in the global economy and the history of the World Trade Organization (WTO), an examination of the WTO's dispute settlement mechanism, and an examination of major trade disputes that involve the U.S. The course ultimately explores how international trade laws, politics, diplomacy, and multi-national corporations in pursuit of profits interact.
Number of Credits: 3
When Offered: Summer
How Offered: Online
Prerequisites: ECN 150
ECN 337 - Political Economy of Eastern Europe
This course first explores the structure and outcomes of a centrally-planned economic system in contrast to a market-based economic system. Second, it examines how the transition from planned to market took place (or is still under way) in Eastern Europe and the countries of the former Soviet Union. Lastly, it considers a wide range of contemporary political and economic challenges facing countries across the region, from building democratic institutions and strengthening the rule of law to establishing competitive markets and addressing social and economic injustices.
Number of Credits: 3
When Offered: Spring
How Offered: Face-to-Face
Prerequisites: ECN 150
ECN 340 - American Economic History
This course describes and analyzes long-term economic growth and development since colonization. It stresses changes in demographic, technological, and institutional factors as they interact with the market system. Basic economic concepts and theories of growth are applied to significant historical questions.
Number of Credits: 3
Prerequisites: ECN 150
ECN 351 - Environmental Economics
Provides an introduction to the trade-offs (costs versus benefits) associated with environmental issues. Evaluating trade-offs requires an examination of the magnitude or current environmental problems and some consideration of how to measure the costs and benefits of regulatory changes. Approximately half the course will be devoted to examining the current regulations, how the regulatory process works, and the economic implications of the regulations.
Number of Credits: 3
When Offered: Spring
How Offered: Face-to-Face
Prerequisites: ECN 150 or permission of Chair
ECN 354 - Economics of the Entertainment Industry
The course surveys the economics of the entertainment industry with an emphasis on the importance of market structure (perfect competition, monopolistic competition, oligopoly, monopoly) in determining behaviors and profitability. In this course, we will apply many microeconomic, and a few macroeconomic, concepts to evaluate structure, workings, and profitability of various segments in the entertainment industry, ranging from movies to music, TV, radio, publishing, casinos, and theme parks. Case studies will be used to highlight the issues facing particular firms.
Number of Credits: 3
When Offered: Spring
How Offered: Face-to-Face
Prerequisites: ECN 150
ECN 356 - Healthcare Economics
This course explores the economics of health and health care. It introduces students to different economic perspectives on the determinants of health, how health insurance markets are organized, and the challenges facing the U.S. health care system. The course also examines how health care services are financed and delivered in other countries. Special attention is paid to recent health care reforms, including the Affordable Care Act.
Number of Credits: 3
When Offered: Fall
How Offered: Face-to-Face
Prerequisites: ECN 150
ECN 385, 386 - Cooperative Education
This experience will be a full-time paid employment in a cooperating firm such as a bank, economics forecasting company, or public utility; a nonprofit company such as a Community Development Corporation; or a government agency such as a county planning department or a statistical analysis office. Under faculty supervision, students also complete job-related learning assignments that involve oral and written presentations.
Number of Credits: 3 or 6
When Offered: Fall, Spring, Summer
Prerequisites: ECN 214; ECN 221; and junior standing or senior standing, and permission of Department Chair
ECN 441 - History of Economic Thought
The course details the development of economics as a coherent analytical discipline through a historical study of its main schools and contributors, including the Physiocrats; the Classical Economists (especially Jevons, Walras, and Clark), Marshall, and Keynes. Lesser figures are treated as time allows. Attention throughout is given to the changing philosophical and cultural background of economic thought.
Number of Credits: 3
When Offered: Fall
How Offered: Face-to-Face
Prerequisites: ECN 150 and ECN 201
ECN 455 - Public Finance
This course involves an analysis of the revenue and expenditure activity of government with particular emphasis on the rationale of federal government activity. Also considered are the issues of distribution, efficiency, equity, and stability in the economy.
Number of Credits: 3
Prerequisites: ECN 150; ECN 201
ECN 481 - Seminar in Economics
This course is intended to be a capstone course for economics majors, one that aids the student in integrating the material from diverse economics courses. It stresses techniques for the preparation of written research reports. Students will ordinarily deliver to the seminar an oral presentation of their research results.
Number of Credits: 3
When Offered: Fall
How Offered: Face-to-Face
Prerequisites: Senior standing in ECN 213, ECN 221 or ECN 222
ECN 485 - Seminar in Economics and International Studies
This capstone course for Economics and International Studies majors aims to assist students to research, integrate, and communicate information about the global economy. Specifically, students will learn to conduct research on economic problems and policies of countries and regions of the world not native to them. Students will compose a 250 to 300 word abstract of their seminar papers in two languages, English and a second language. Further, students will be expected to demonstrate at least one of the following competencies: a) to write, in a non-native language, summaries of research in sources written in non-native language; b) to write the seminar paper in a non-native language; or c) to present research results orally in a non-native language.
Number of Credits: 3
When Offered: Fall
How Offered: Face-to-Face
Prerequisites: Senior standing in ECN 213, ECN 221 or ECN 222
ECN/POL 213 - Statistics for Economics and Political Science
This course focuses on basic statistical methods used in the analysis of economic and political phenomena and decision-making. Emphasis is on the application of statistical techniques and the sound interpretation of statistical results. Topics include descriptive statistics, probability, sampling and sampling distributions, statistical estimation, hypothesis testing, simple regression, and correlation.
Number of Credits: 3
When Offered: Fall
How Offered: Face-to-Face