Economics
UW-PARKSIDE 2019-21 CATALOG
Molinaro 248 • 262-595-2314
College:
Business, Economics, and Computing
Degree and Programs Offered:
Bachelor of Arts
Major - Economics
Minor - Economics
Major Concentrations – Monetary and Financial Economics, Quantitative Economics
Associate of Science – Financial Economics (see associate degree section of catalog)
Student Organizations/Clubs:
Economics Club; Economics Honor Society Omicron Delta Epsilon.
Career Possibilities:
Graduates with a bachelor’s degree in economics are employed in a wide variety of jobs in both the private and public sectors of the economy. Recent economics graduates have obtained positions at Amazon, Snap-on Inc., Modine Manufacturing, Humana Healthcare, US Bank, Northwestern Mutual, Blue Cross and Blue Shield, Educators Credit Union, CNH Industrial, Hewitt Associates, the U.S. Veteran’s Administration, Prudential Financial, Fannie Mae, Cardinal Health, the U.S. Internal Revenue Service, S.C. Johnson, the Shedd Aquarium, Mercer, Joy Global, AXA Advisors, Johnson Controls, Merz North America, BMO Global Asset Management, and Johnson Bank. In addition, economics graduates have become teachers in area high schools or have begun their professional careers by working for local government agencies or nonprofit organizations. Other economics graduates have harnessed their entrepreneurial abilities and have started up their own firms, such as PricingCloud LLC, IVT Investment Group, LH Consulting, and Edgerton Travel Plaza.
Department Overview
Economics is the study of rational choice and the allocation of scarce resources in light of social values and competing needs and wants. Economics examines the fundamental choices that individuals, businesses, and governments face: what goods and services should be produced; how should they be produced; and how should they be distributed in today’s interconnected world. Studying economics develops methods of thinking that can be directly applied to a wide variety of problems in many different areas. The Economics Department teaches core principles and theory courses in microeconomics and macroeconomics and a wide range of advanced elective courses in various subfields of economics, including economic development, environmental economics, financial economics, industrial organization, international economics, labor economics, money and banking, public economics, and sports economics. Economics graduates possess analytical and problem-solving skills that enable them to understand economic phenomena and make optimal economic decisions.
The Economics Department offers a bachelor of arts degree with a major in economics and a minor in economics. Within the economics major, three courses of study are possible: the general major; the monetary and financial economics concentration in the major; and the quantitative concentration in the major.
The Economics Department also offers an associate of science degree in financial economics. The AS-Financial Economics focuses on the functions and operation of the financial and banking sectors of the economy. After completing this degree, a student will have a significant amount of coursework that can be directly applied toward a bachelor’s degree in either economics, business management, accounting, marketing, or a number of other majors.
Preparation for Graduate School
The economics program provides an excellent foundation for advanced graduate work in economics, business, law, or the social sciences. The quantitative concentration in the economics major is designed particularly for students who expect to study economics or related fields in graduate school. Recent economics graduates have been accepted into graduate programs at the University of Georgia, George Washington University, the University of Oregon, the University of Wisconsin-Milwaukee, Boston University, and the University of Wisconsin-Madison.
Internships
The internship in economics is a 1-3 credit learning experience in either the private or public sector for students with a minimum 2.50 cumulative GPA and with department approval.
Program Level Outcomes
- Economics graduates will be able to evaluate the implications of economic scarcity in the context of resource allocation, production, and consumption and various economic institutions (aligns with Reasoned Judgment).
Outcomes/Objectives:- Students can compare and evaluate the consequences of and the tradeoffs resulting from economic scarcity in the context of different market structures.
- Students can compare and evaluate the consequences of and the tradeoffs resulting from economic scarcity in the context of macroeconomic variables.
- Economics graduates will be able to apply tools of economic decision-making to make optimal (efficient) economic decisions (aligns with Reasoned Judgment).
Outcomes/Objectives:- Students can construct and apply economic models and analytical tools to explain economic relationships and evaluate solutions to economic problems.
- Students can create economic databases, work effectively with data, and perform quantitative analysis.
- Economics graduates will be able to evaluate the desirability of economic decisions and policies in terms of their effects on individual and social welfare (aligns with Social and Personal Responsibility).
Outcomes/Objectives:- Students can compare and evaluate changes in the economic welfare of individuals, households, firms, government, and society resulting from domestic economic policies and global external economic shocks.
- Students can compare and evaluate changes in the economic welfare of individuals and households in the context of diversity, equity, and other social goals.
- Economics graduates will be able to communicate economic concepts, data, models, theories, and analysis effectively using various forms of media and communication technologies (aligns with Communication).
Outcomes/Objectives:- Students can communicate in writing and by using tables, graphs, or mathematical representations (models) effectively to demonstrate comprehension of the underlying economic concepts and relationships.
- Students can communicate verbally by using the spoken word or multimedia technologies effectively.
Requirements for the Economics Major (33-38 credits)
The Economics Department offers three courses of study in the economics major: the general major; the monetary and financial economics concentration in the major; and the quantitative concentration in the major. Economics majors must attain a minimum cumulative GPA of 2.25 in courses for the major. Transfer students must attain a minimum cumulative GPA of 2.25 in transfer courses applied to the major in addition to UW-Parkside courses for the major. Courses in introductory accounting and computer skills are recommended.
- Required Core Courses (15 credits)
The economics core courses provide students with a solid foundation in both macroeconomics and microeconomics and an introduction to basic quantitative techniques and analytical tools. The following courses, or their equivalents, are required of all students.ECON 120 Principles of Microeconomics 3 cr ECON 121 Principles of Macroeconomics 3 cr ECON 320 Intermediate Micro Theory 3 cr ECON 321 Intermediate Macro Theory 3 cr QM 210 Business Statistics I 3 cr
- Completion Options (18-23 credits)
Choose one option:- General Economics Major (18 credits)
The general major is intended for students who seek a broad experience in economics and do not expect to study economics in graduate school.
Elective Economics Courses (18 credits)300- or 400-level economics courses 12 cr 200-level or above economics courses 6 cr - Monetary and Financial Economics Concentration (21 credits)
The monetary and financial economics concentration is designed for students who are interested in professional positions in the financial and banking sectors.- Additional Required Courses (18 credits)
ACCT 201 Financial Accounting 3 cr ECON 366 Money and Banking 3 cr ECON 367 Financial Institutions and Markets 3 cr ECON 402 International Economics 3 cr ECON 409 Econometrics 3 cr FIN 330 Managerial Finance 3 cr - Elective Course (3 credits)
Choose one course:ECON 360 Industrial Organization and Public Policy 3 cr FIN 335 Investments 3 cr FIN 431 Advanced Managerial Finance 3 cr
- Additional Required Courses (18 credits)
- Quantitative Concentration (23 credits)
The quantitative concentration is strongly recommended for students who expect to study economics in graduate school or seek a career using quantitative methods.- Additional Required Courses (11 credits)
ECON 409 Econometrics 3 cr ECON 412 Managerial Economics 3 cr MATH 221 Calculus and Analytic Geometry I 5 cr - Elective Economics Courses (12 credits)
300- or 400-level economics courses 9 cr 200-level or above economics course 3 cr Additional courses in mathematics are strongly recommended. Consult your economics advisor regarding recommended courses.
- Additional Required Courses (11 credits)
- General Economics Major (18 credits)
Requirements for the Economics Minor (18 credits)
The economics minor is intended for students who wish to acquire an understanding of economics that will complement their primary field of study. Whatever the major, a minor in economics signals to prospective employers that a UW-Parkside graduate possesses the analytical tools needed to understand economic phenomena and changing economic conditions.
Economics minors must attain a minimum cumulative GPA of 2.25 in courses for the minor. Transfer students must attain a minimum cumulative GPA of 2.25 in transfer courses applied to the minor in addition to UW-Parkside courses for the minor.
- Required Courses (9 credits)
ECON 120 Principles of Microeconomics 3 cr ECON 121 Principles of Macroeconomics 3 cr Choose one theory course: ECON 320 Intermediate Micro Theory 3 cr ECON 321 Intermediate Macro Theory 3 cr - Elective Economics Courses (9 credits):
300- or 400-level economics courses 6 cr 200-level or above economics course 3 cr
Recommended Courses Outside of Economics
Economics majors who are either seeking a career in business or planning on pursuing an M.B.A. at UW-Parkside are strongly encouraged to complete a minor in business management. Please consult the Business Department for details.
Courses in Economics (ECON)
101 |
The American Economy |
3 cr |
120 |
Principles of Microeconomics |
3 cr |
121 |
Principles of Macroeconomics |
3 cr |
260 |
Industrial Organization and Public Policy |
3 cr |
280 |
Comparative Economic Systems |
3 cr |
290 |
Special Topics in Economics |
1-3 cr |
300 |
Environmental Economics |
3 cr |
303 |
The Economics of Discrimination in Banking |
3 cr |
304 |
Economics of Urban Problems |
3 cr |
305 |
Economics of Sports |
3 cr |
308 |
Economic Development |
3 cr |
320 |
Intermediate Micro Theory |
3 cr |
321 |
Intermediate Macro Theory |
3 cr |
325 |
American Economic History |
3 cr |
330 |
The Economics of Gender |
3 cr |
340 |
Health Economics |
3 cr |
360 |
Industrial Organization and Public Policy |
3 cr |
366 |
Money and Banking |
3 cr |
367 |
Financial Institutions and Markets |
3 cr |
380 |
The Labor Market |
3 cr |
402 |
International Economics |
3 cr |
405 |
Public Economics |
3 cr |
409 |
Econometrics |
3 cr |
412 |
Managerial Economics |
3 cr |
490 |
Special Topics in Economics |
1-3 cr |
492 |
Research Experience in Economics |
1-3 cr |
494 |
Economics Internship |
1-3 cr |
499 |
Independent Study |
1-3 cr |
Graduate Courses
The 500 and 600-level courses listed below are intended only for students enrolled in the UW-Parkside Master of Business Administration program.
566 |
Money and Banking |
3 cr |
567 |
Financial Institutions and Markets |
3 cr |
602 |
International Economics |
3 cr |
609 |
Econometrics |
3 cr |
612 |
Managerial Economics |
3 cr |
690 |
Special Topics in Economics |
1-3 cr |