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Overview:
Economics is the study of how different economic systems determine
what goods and services will be produced, the prices and quantities
of those goods and services, and who will receive them. All societies,
from the most primitive to the most complex, must have economic
systems that determine how scarce resources (land, raw materials,
labor, machinery, and physical structures) will be used to satisfy
the demands of the people living in those societies. Knowledge of
economics is essential to understanding problems ranging from the
consumer's decision to purchase one brand of car over another, to
businesses' decisions as to which goods and services to produce
and how to price them. Economics also helps us to understand the
causes of inflation and unemployment, as well as the effects of
government budget deficits or international trade deficits. Lawyers,
bankers, managers of large and small businesses, government planners
and journalists find economics a useful tool in understanding and
solving problems.
Students choosing economics as their major pursue a core program
designed to provide a thorough grounding in economic theory followed
by more specialized study in such areas as money and banking, labor
and industrial relations, international economics, public finance,
industrial organization, and antitrust policy. Students develop
their programs in cooperation with an economics faculty adviser.
The Department of Economics offers two degrees through the College
of Arts and Sciences: a Bachelor of Arts degree with a major
in economics and a Bachelor of Science degree with a major in economics.
Candidates for either of these degrees must also declare and complete
a minor. Suggested minors include math, business or another discipline
within the arts and sciences. Those students planning to enter Ph.D.
programs in economics are strongly encouraged to take their minor
in mathematics. Students who plan to seek employment upon completion
of their bachelor's degree or who plan to pursue graduate work in
some other field are advised to elect a minor in a field related
to their chosen career.
For students majoring in non-business fields such as political science,
engineering, math, speech communication, or history, an Economics
Minor is an excellent complement.
Students interested in additional information may consult the Economics
Department, Alumni Hall, Room 3129. Students may also meet with
a faculty adviser in the Department of Economics.
Career paths:
Economists are employed in all areas of private industry; in federal,
state, and local government agencies; in international organizations
such as the United Nations and the World Bank; in labor unions;
and in colleges and universities. Duties performed by professional
economists include market research, forecasting, corporate planning,
policy evaluation, economic impact studies, and consulting.
During the past several years, graduates of the SIUE program in
economics (including the graduate program) have obtained employment
in a variety of institutions. These include commercial banks, brokerage
firms, government agencies, public utilities, state legislatures,
manufacturing and retailing firms, consulting firms, as well as
community colleges and small liberal arts colleges. A number of
students have continued their study of economics by entering highly
competitive Ph.D. programs. Law school is another popular option.
Admission, retention, and graduation:
The admission/entrance requirements for a degree in economics are
the same as for the University. High school deficiencies and Academic
Development courses must be complete before applying for a major
in economics. Students in the Bachelor of Arts and Bachelor of Science
degree programs are required to maintain a 2.0 (on a 4.0 scale)
grade point average in economics. Students must also obtain a grade
of C or higher in specified core courses. Program requirements are
summarized on the CAS BS
Econ Program Sheet and CAS
BA Econ Program Sheet.
Exit Requirments:
Students completing a degree in economics are required to maintain
a 2.0 in economics courses and a cumulative 2.0 grade point average.
Students must complete all economics courses in regularly scheduled
classes (no credit is granted for correspondence or extension courses.)
Students who have earned credit for a course required for a degree
in economics by taking a proficiency examination, by transferring
credit for a course, or by taking the course, may not earn credit
for graduation by taking a similar or lower division course in economics
at SIUE or at other higher education institutions.
To graduate, in addition to satisfying the major requirements, students
must obtain a grade of C or higher in one of the research courses
(Economics 415 or 417). Students must also present to the faculty
their research projects from either course as the Senior Assignment/Exit
Requirement of the program.
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