Economics and Decision Sciences

Undergraduate Advisory Tracks

General Business Economics Specialty

This is designed for students intending to pursue a Masters of Business Administration (MBA) or enter a training program of a large corporation after completing the baccalaureate degree. This program of study provides a broad background in economic theory with the analytical skills needed for handling a wide range of business problems.

Economics Courses

(in addition to the core courses)

  • ECON 287 Applied Economic Research
  • ECON 332 Managerial Economics
  • ECON 340 Labor Institutions and Public Policy
  • ECON 345 Private Enterprise and Policy
  • ECON 421 Business Cycles and Economic Growth
  • Plus 6 hours of electives in Economics
Recommended Courses in Other Disciplines
  • None

 

Pre-Professional and Law Specialty

Many graduates with an economics major pursue additional degrees such as a Ph.D. or a law degree. The range of opportunities available attests to the versatility of economics as a discipline. The economics curriculum at Western offers a broad range of courses including all major subfields of economics. Students interested in pursuing an advanced degree are encouraged to select courses which will provide sufficient background to make them effective in their chosen careers. For other tracks providing a background for advanced study, see the Government and Planning and Advanced Degree tracks.

Economics Courses

(in addition to the core courses)

  • ECON 287 Applied Economic Research
  • ECON 332 Managerial Economics
  • ECON 340 Labor Institutions and Public Policy
  • ECON 432 Public Finance
  • Plus 6 hours of electives in Economics
Recommended Courses in Other Disciplines

ACCT 201 Introduction to Financial Accounting (or ACCT 241 or ACCT 261) and ACCT 202 Introduction to Managerial Accounting (or ACCT 242 or ACCT 251 or ACCT 260)

  • DS 210 Business Statistics for Managerial Decision Making I
  • DS 211 Business Statistics for Managerial Decision Making II
  • BL 431 The Law of Commercial Contracts
  • CS 101 Introduction to Computers

 

Note: Students electing this option should seek the advice of an economics faculty member in determining additional courses which will best prepare them for a chosen career. In addition, students are encouraged to take courses in accounting, business law, and finance if these are not already included in their college requirements.

 

Financial Institutions Specialty

This track provides a borderwork of courses for those interested in pursuing a career in a variety of financial institutions.

Economics Courses

(in addition to the core courses)

  • ECON 325 Money, Banking, and Credit
  • ECON 332 Managerial Economics
  • ECON 425 Money, Capital Markets, and Monetary Theory
Recommended Courses in Other Disciplines
  • ACCT 201 Introduction to Financial Accounting (or ACCT 241 or ACCT 261) and ACCT 202 Introduction to Managerial Accounting (or ACCT 242 or ACCT 251 or ACCT 260)
  • FIN 341 Financial Institutions
  • FIN 441 Bank Management
  • FIN 471 Security Analysis
  • FIN 493 Seminar in Banking

 

Business Analysis Specialty

This track is designed to provide a background for those students wishing to be employed as entry level analysts immediately upon graduation. It also serves to prepare students interested in advanced degrees in business or economics. By their choice of electives, students can obtain the technical knowledge needed for employment in a specific industry.

Economics Courses

(in addition to the core courses)

  • ECON 287 Applied Economic Research
  • ECON 332 Managerial Economics
  • ECON 345 Private Enterprise and Public Policy
  • ECON 421 Business Cycles and Economic Growth
  • ECON 425 Money Markets, Capital Markets, and Monetary Theory
  • ECON 381 Mathematical Economics I and/or ECON 481 Mathematical Techniques or ECON 387 Econometrics I
  • Plus 3 hours of electives in Economics
Recommended Courses in Other Disciplines
  • DS 461 Managerial Decision Making and Problem Solving
  • IM 340 Management Information Systems
  • MKTG 329 Marketing Research
  • MKTG 497 Marketing Management
  • MGT 350 Advanced Organizational Behavior
  • OM 352 Operations Management
  • OM 455 Total Quality Management

 

International Economics Specialty

This track prepares students for employment in firms or government agencies with international interests as management trainees or as entry level analysts. It provides excellent preparation for further graduate study in this area.

Economics Courses

(in addition to the core courses)

  • ECON 287 Applied Economic Research
  • ECON 470 International Trade
  • ECON 420 Economic Development
  • ECON 435 Comparative Capitalist Systems
  • Plus 9 hours of electives in Economics
Recommended Courses in Other Disciplines
  • MKTG 317 International Business
  • MKTG 417 International Marketing
  • POLS 228 Fundamentals of International Relations
  • POLS 305 International Relations: Theories and Approaches
  • GEOG 110 World Regional Geography
  • GEOG 341 Economic Geography (formerly GEOG 446)
  • GEOG 444 Political Geography
  • Foreign Language - Selection based on locational preferences.

 

Agribusiness And Economics Specialty

Students interested in pursuing a career or interest in agribusiness should consider the following courses.

Economics Courses

(in addition to the core courses)

  • ECON 465 Economics of Energy
  • ECON 470 International Trade
Recommended Courses in Other Disciplines
  • AgEc 442 Marketing Grain and Livestock Products
  • AgEc 457 Market Profile
  • AgEc 458 Advanced Market Profile

 

Advanced Degree In Economics Specialty

The Ph.D. degree in Economics is a rigorous degree requiring a strong quantitative background in addition to a strong background in economic theory. The first tier courses contain material every Ph.D. student needs to know. Second tier courses contain material those intending to specialize in highly quantitative fields such as mathematical economics and econometrics should gain exposure to.

Economics Courses

(in addition to the core courses)

  • ECON 381 Mathematical Economics
  • ECON 387 Econometrics I
  • ECON 470 International Trade
Recommended Courses in Other Disciplines
First Tier Courses:
  • MATH 311 Linear Algebra
  • MATH 333 Ordinary Differential Equations
  • MATH 430 Multivariable Calculus
  • MATH 431 Partial Differential Equations
  • STAT 471 Introduction to Mathematical Statistics I
Second Tier Courses:
  • MATH 421 Abstract Algebra
  • MATH 424 Advanced Linear Algebra
  • MATH 435 Introduction to Real Variables
  • MATH 461 Introductory Topology
  • MATH 481 Numerical Analysis I
  • STAT 472 Introduction to Mathematical Statistics II
  • STAT 474 Regression and Correlation Analysis

 

 

Government And Planning Specialty

The following track is recommended for students interested in pursuing government and planning careers. The approach also provides a solid foundation for advanced work in public administration and law.

Economics Courses

(in addition to the core courses)

  • ECON 287 Applied Economic Research
  • ECON 432 Public Finance
  • ECON 360 Economics and Urban Problems
  • ECON 421 Business Cycles and Economic Growth or ECON 460 Rural and Regional Economic Analysis
  • And two of the following: ECON 390 Introduction to Health Economics, ECON 425 Money Markets, Capital Markets, and Monetary Theory, ECON 387 Econometrics I

 

Students should be aware that some of the above courses have prerequisites and should plan far enough in advance to be sure that prerequisites can be met.

Recommended Courses in Other Disciplines
  • POLS 370 Urban Government and Politics
  • POLS 392 Public Personnel Administration
  • POLS 394 Introduction to Public Policy
  • POLS 494 Public Budgeting Systems
  • GEOG 448 Introduction to Urban and Regional Planning
  • SOC 471 Urban Sociology