Economics Catalog
Chair: Mark P. Zaporowski, PhD
Introduction
Economics BS Program – Business Economics
The objective of the Economics curriculum is to provide students with an understanding of the economic environment in which they will participate as professionals. The major in Economics requires a sequence of economics courses from which the student is expected to obtain an understanding of the economic environment and the ability to develop solutions to economic problems that exist in society. In addition, Business Economics majors in the Richard J. Wehle School of Business take a set of courses called the Business Core Curriculum. The Business Core is designed to provide students with a breadth of important business skills and knowledge that will allow them to grow and become leaders in their organizations.
Many economics graduates find rewarding and challenging employment in government and industry positions where their specialized training is put to the test and found valuable. Other students choose to deepen their knowledge of economics by attending graduate school. Still others find professional studies in business, law and health sciences more rewarding because of their economics training. We also offer a BA in Economics.
Curriculum
An Ignatian Foundation
All undergraduate students must complete either the Canisius Core Curriculum or the All-College Honors Curriculum. Many schools refer to their college-wide undergraduate requirements as "general education" requirements. We believe that the core curriculum and the honors curriculum are more than a series of required classes; they provide the basis for a Jesuit education both with content and with required knowledge and skills attributes that are central to our mission.
Free Electives
Students may graduate with a bachelor's degree with more but not less than 120 credit hours. Free electives are courses in addition to the Canisius Core Curriculum or All-College Honors Curriculum and major requirements sufficient to reach the minimum number of credits required for graduation. The number of credits required to complete a bachelor's degree may vary depending on the student's major(s) and minor(s).
Major Requirements
| Code | Title | Credits |
|---|---|---|
| Business Core (required courses for all business majors) 1 | 49-51 | |
| ECO 205 | Intermediate Microeconomic Analysis | 3 |
| ECO 206 | Intermediate Macroeconomic Analysis | 3 |
| Economics Electives (4 courses, see text below) | 12 | |
| Total Credits | 67-69 | |
| 1 | To satisfy the Business Core mathematics requirement, MAT 115 is recommended over options for Business Economics majors. However, students who are not well prepared in mathematics may wish to take MAT105 and MAT106 before moving on to more advanced math courses. Additional mathematics courses are recommended if the student is preparing for a graduate program in economics or finance. Students are strongly encouraged to consult with a department adviser if they have questions about the best way to satisfy the Business Core mathematics requirement. |
Economics Electives
Students must take four 300- or 400-level Economics (ECO) or Finance (FIN) courses. Up to 2 of the following courses (with a minimum grade of C- in each) may be substituted for Economics elective credit:
| Code | Title | Credits |
|---|---|---|
| MAT 112 | Calculus II | 4 |
| MAT 211 | Calculus III | 4 |
| MAT 219 | Linear Algebra | 4 |
| MAT 222 | Differential Equations | 3 |
| Accounting courses beyond ACC 202 | ||
Roadmap
Recommended Semester Schedule for Major Course Requirements
| Freshman | |
|---|---|
| Fall | Spring |
| ENG 111 | ENG 112 |
| ECO 101 | ECO 102 |
| Select one of the following: | MAT 106 (or Free Elective if MAT 109, MAT 111 or MAT 115 is taken in the fall.) |
| MAT 105 or MAT 109, MAT 111, or MAT 115 | PHI 101 |
| RST 101 | Business International Requirement II |
| Business International Requirement I | |
| BUS 101 | |
| Sophomore | |
| Fall | Spring |
| ACC 201 | ACC 202 |
| ECO 205 | ECO 206 |
| ECO 255 | ECO 256 |
| ISB 101 | FIN 201 |
| Field of Knowledge 4 | MGT 101 |
| BUS 201 | |
| Junior | |
| Fall | Spring |
| ECO Elective | ECO Elective |
| MKT 201 | MGT 325 |
| Field of Knowledge 1 | MGT 370 |
| Field of Knowledge 3 | Field of Knowledge 2 (Ethics) |
| Field of Knowledge 6 | A&S Elective |
| Senior | |
| Fall | Spring |
| ECO Elective | ECO Elective |
| Core Capstone | MGT 446 |
| A&S Elective | A&S Elective |
| Free Elective | A&S Elective |
| Free Elective | Free Elective |
Learning Goals & Objectives
Student Learning Goal 1
ECONOMICS MAJORS WILL be able to critically assess economic arguments.
Students will be able to:
- Objective A: Analyze economic arguments using economic models.
- Objective B: Be able to apply statistical tools in the analysis of economic arguments.
Student Learning Goal 2
STUDENTS WILL be able to apply MACROECONOMIC theory in analysis of economic growth and the problems of unemployment and inflation.
Students will be able to:
- Objective A: Display an understanding of the determinants of macroeconomic equilibrium.
- Objective B: Analyze the impact of exogenous shocks and various fiscal and monetary policies on macroeconomic equilibrium.
Student Learning Goal 3
STUDENTS WILL be able to apply MICROECONOMIC theory to explain the behavior of consumers and firms in a market economy.
Students will be able to:
- Objective A: Display an understanding of the determinants of the consumer choice given the constraints of limited household income and market prices.
- Objective B: Display an understanding of firm behavior under alternative market structures.
Double Major: Economics and Finance (BS)
A common double major for Business Economics student is Finance. Please use the following program requirements and roadmap if you wish to add the additional major.
Curriculum
| Code | Title | Credits |
|---|---|---|
| Business Core (required courses for all business majors) | 49-51 | |
| Economics Courses | ||
| ECO 205 | Intermediate Microeconomic Analysis | 3 |
| ECO 206 | Intermediate Macroeconomic Analysis | 3 |
| Economics Electives 1 | 6 | |
| Finance Courses | ||
| ECO 330 | Money, Banking and the Economy 2 | 3 |
| or FIN 420 | Financial Institutions and Markets | |
| FIN 312 | Investments | 3 |
| FIN 414 | Portfolio Analysis | 3 |
| Finance Electives (select 4 FIN courses at the 300- or 400-level) 3 | 12 | |
| Total Credits | 82-84 | |
| 1 | Economics Electives: Students must take four 300- or 400-level Economics (ECO) or Finance (FIN) courses. Up to 2 of the following courses (with a minimum grade of C- in each) may be substituted for Economics elective credit: MAT 112, MAT 211, MAT 219, MAT 222, or ACC 300 or higher. |
| 2 | Students may receive credit for ECO 330 or FIN 420, but not both. |
| 3 | Finance Electives: Four Finance (FIN) courses are required. Students can take up to 2 of the following ECO courses for a Finance elective: ECO 401, ECO 410, ECO 411, and ECO 455. If you complete these ECO courses for a Finance elective, it will not count as an Economics elective. Dual majors require 6 distinctive electives. An elective can only count for one major. |
Roadmap
| Freshman | |
|---|---|
| Fall | Spring |
| ENG 111 | ENG 112 |
| ECO 101 | ECO 102 |
| MAT 105, 109, 111, or 115 | MAT 106 (or Free Elective if MAT 109, MAT 111 or MAT 115 is taken in the fall.) |
| RST 101 | PHI 101 |
| Business International Requirement I | Business International Requirement II |
| BUS 101 | |
| Sophomore | |
| Fall | Spring |
| ACC 201 | ACC 202 |
| ECO 205 | ECO 206 |
| ECO 255 | ECO 256 |
| ISB 101 | FIN 201 |
| Field of Knowledge 4 with attribute | MGT 101 |
| BUS 201 | |
| Junior | |
| Fall | Spring |
| FIN 312 | MGT 325 |
| MKT 201 | FIN 414 |
| Field of Knowledge 1 with attribute | MGT 370 |
| Field of Knowledge 3 with attribute | Field of Knowledge 2 (Ethics) |
| Field of Knowledge 6 | FIN 420 |
| or | |
| ECO 330 | |
| Senior | |
| Fall | Spring |
| ECO Elective | ECO Elective |
| Core Capstone | MGT 446 |
| A&S Elective | Finance Elective |
| Finance Elective | A&S Elective |
| Finance Elective | Finance Elective |
Double Majors
Students who wish to expand their educational opportunities may decide to declare a double major. This decision may be based on career goals, planned graduate studies, and/or other student interests. Before a student declares a double major, it is important to meet with the appropriate academic departments for advisement. In order to declare a double major, the student must complete the appropriate double major request form and get the signature of each department chairperson and the appropriate associate dean.
Per college policy, each additional major requires a minimum of 15 credits that do not apply to the student's first or subsequent major. Some double major combinations can be completed within the minimum 120 credit hour degree requirement, but in other cases additional course work may be required. Please note that students will receive only one degree, regardless of the number of majors they complete. Both (all) majors appear on a student’s transcript.