2010-2011 Academic Catalog

Dec 03, 2024

2010-2011 Academic Catalog [ARCHIVED CATALOG]

Economics Minor

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Overview

Undergraduate Program

Economics offers a flexible yet consistent framework for understanding key issues facing the economy and society—from globalization of international trade and finance to global warming. The major and minor in economics offer students an opportunity to learn the key elements of this framework and provide them with ample opportunities to apply it to a wide range of key economic issues. The Ph.D. program enriches the intellectual community in economics with opportunities for undergraduates to take advanced courses not typically available to undergraduate majors.

Since it first attempted to explain the growth and wealth of nations more than two hundred years ago, economics has evolved into a modern social science that combines a coherent analytical framework with careful analysis of information to understand how economies work and develop, and the consequences of economic policies and policy change. It applies the basic logic of individual choice and market forces to explore the tradeoffs inherent in addressing many of the key concerns on today’s agenda: ensuring rising living standards in developed and developing countries, assessing the impacts of international trade, and identifying the wisest use of scarce environmental resources, among many others.

The major in economics builds on the expertise the student develops in the introductory courses. It combines a solid background in the core of economic analysis with a wide range of applied courses that investigate fields of economics and important topics. The capstone experience, honors program, internships and study abroad offer opportunities for majors to acquire research experience, apply economics in government or business and deepen their understanding of economic issues.

The economics major provides skills that are highly valued in a number of careers and graduate programs. The economics major emphasizes developing skills of careful thinking and analysis in combination with the application of those skills in practical settings. Law schools welcome the background economics provides in logical thinking. Government agencies and graduate programs in public policy or economics appreciate the systematic approach to understanding the economy offered by economics. Business schools and businesses find the facility the economics major acquires in analytical thinking and quantitative methods of analysis attractive.

Courses

Study Abroad and Internships

A number of study-abroad programs and internships offer important opportunities for students in economics. Each year, a select group of juniors majoring in economics attend the prestigious London School of Economics for a full year of study. Many majors take advantage of study-abroad opportunities elsewhere as well. Economics majors receive major credit for participation in the London Internship program, which places students in government or business internships in London; the Washington Center program, which places students in internships designed to acquaint them with policy making at the federal level; and the Washington Semester program. Other internships can be arranged through the Clark Internship Office under ECON298. They offer students an opportunity to apply economic analysis in governmental, social service, or business settings. Although internships are taken for Clark credit, they do not count towards the 10 required courses in the major. Your faculty adviser can provide you with the departmental guidelines for internships in economics.

Program Minor

Students majoring in another discipline often discover that a minor in economics can provide a background that can complement their major and allow them to explore an interest in economics. The minor requires a minimum of six courses in economics including ECON 010 and ECON 011 . Two of the remaining courses must be at the 200 level. Only courses with a final grade of C– or better will be counted toward the minor.