Economics Minor

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Objectives:

The minor in economics is designed to allow a student the opportunity to learn the foundations of economics, including the economic tools required for a deeper understanding of markets and for public policy analysis.

Competencies, Knowledge, or Skills to be Achieved:

Economics informs the business disciplines, many of which trace their foundations to economics. Top financial firms, for instance, seek graduates with a strong foundation in economic theory, since economics is essential to understanding financial markets. Much of marketing and management theory, since economics is essential to understanding financial markets. Much of marketing and management theory evolved from a base in economics.

As citizens, we are frequently asked to support legislative proposals. Should taxes be raised or lowered? Should Social Security benefits be raised or lowered? Should the U.S. adopt a single-payer system of health care? Should businesses be further regulated to slow climate change? Should parents be permitted further choice on where and how their children are educated? Should we spend more on the social safety net or on defense? Should we permit more or less immigration? Should domestic industry be protected with tariffs to save U.S. jobs? Should the minimum wage be raised? A thorough understanding of economics is critical to answering these questions.

Economics is excellent preparation for anyone interested in law school. Economic principles ground much of judicial decision-making. Economics is also great preparation for the LSAT. A 2010 study using data from the Law School Admission Council, which administers the LSAT, found that economics and philosophy majors tied for first on average LSAT score among 12 largest disciplines.

No students are excluded from pursuing this minor; however, students may not use more than one course to fulfill both the minor requirement and a core curriculum requirement.¹

Structure of the Minor

*Prerequisites must be met - see course descriptions for prerequisite requirements

Required Courses (12 Credit Hours):

ECON 201 - Principles of Microeconomics Credit Hours: 3 *
ECON 202 - Principles of Macroeconomics Credit Hours: 3 *
ECON 301 - Intermediate Microeconomics Credit Hours: 3 *
ECON 302 - Intermediate Macroeconomics Credit Hours: 3 *

Elective Course (3 Credit Hours):

**Other 3-credit hour courses must be approved by the MSCME Department Head ²

Choose one of the following

ECON 330 - Current Economic Controversies Credit Hours: 3 *
ECON 401 - Money & Banking Credit Hours: 3 *
ECON 402 - The Cuban Economy Credit Hours: 3 *
ECON 470 - Special Topics in Economics Credit Hours: 3
ECON 480 - Undergraduate Research in Economics Credit Hours: 3
ECON 490 - Independent Study in Economics Credit Hours: 3
ENTR 301 - Principled Entrepreneurship & the Free Enterprise System Credit Hours: 3
ENTR 411 - Technology & Entrepreneurship Credit Hours: 3
FINC 303 - Financial Modeling Credit Hours: 3 *
FINC 304 - Financial Markets & Institutions Credit Hours: 3
FINC 401 - Investments Credit Hours: 3 *
FINC 403 - Risk Management Credit Hours: 3
MATH 131 - Analytic Geometry and Calculus I Credit Hours: 4 *
MATH 132 - Analytic Geometry and Calculus II Credit Hours: 4 *
PSCI 351 - International Political Economy Credit Hours: 3
PSCI 401 - Political Issues and Public Policy Credit Hours: 3
STAT 461 - Data Analysis Credit Hours: 3 *

Total Credit Hours Required:

15 (at least 9 of which must be completed at The Citadel)

Note: Please refer to Academic Minor policy within the Undergraduate Curriculum section of the College Catalog regarding the applicability of courses towards core major curriculum and minor curriculum requirements. For more information, please contact the MSCME Department Head.

Note:

¹ In compliance with the Academic Minor policy found in the Undergraduate Curriculum section of the College Catalog, students pursuing any undergraduate major within the Baker School of Business, which all require ECON 201 and ECON 202 , must take one additional elective beyond the prescribed curriculum to fulfill the economics minor course of study. Students must contact the Marketing, Supply Chain Management, and Economics Department Head for approval of additional course and its applicability.

² In compliance with the Academic Minor policy found in the Undergraduate Curriculum section of the College Catalog, students pursuing a BSBA degree must select a course not already required for their specified major to fulfill the economics minor elective requirement.