Graduation Requirements
Majors
Minors
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Timetable
Freshmen entering BYU-Idaho in Fall 2002 will be able to graduate from this program with a baccalaureate degree as early as 2005.
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What is Economics?
All individuals are affected by the ever-changing economy and the problems caused by scarcity. Economics uses clear and concise principles and quantitative methods to understand how individuals and societies make decisions and choices in the face of this scarcity problem.
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Why Study Economics?
The study of economics provides an opportunity to develop the strong analytical and quantitative skills necessary for success in the workplace and rigorous graduate studies in economics, MBA programs, and law school.
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Areas of Emphasis
BYU-Idaho students studying economics will choose one of the following areas of emphasis:
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1. Job Ready
Students graduating with this emphasis are prepared to work in international business, management, banking, finance, and for a variety of government agencies. Graduates are equipped with the tools necessary for the application of economic theory to specific business and government issues. In addition to the core classes, students must take Econ 397, six credits of upper-division economics classes, and nine credits of upper-divison classes in business, accounting, or economics. The selection of upper division classes must be approved by the adviser.
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2. General Economics
The general economics emphasis prepares a student for graduate study in economics, which is required for careers in research, teaching, and consulting. It is strongly recommended that students choosing this emphasis take additional upper-division mathematics and statistics courses. In addition to the core classes, students must take Econ 315, Econ 430, twelve additional credits in Economics as approved by the adviser, and a complementary minor.
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3. Pre-MBA
Students planning to pursue a Masters of Business Administration degree will benefit by choosing the pre-MBA emphasis. Students are introduced to business and management courses while developing the quantitative and analytical skills necessary for success in MBA programs. According to Richard A. Silverman, director of admissions at Yale School of Management, "Economics is viewed as the ticket to the nation's top business schools. It shows the students have the intellectual fire in the belly to perform well in an MBA program." (Wall Street Journal, November 30, 1998) In addition to the core classes, students must take Econ 300, Econ 358, Bus 275, Acctg 202, a three credit upper-division Economics class, a three-credit upper-division accounting, business, or economics class as approved by the adviser, and a complementary minor.
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4. Pre-Law
Economics consistently ranks as one of the top majors for students who are accepted to law school. The pre-law emphasis establishes a strong foundation for both the logical reasoning and analytical skills that are critical to legal studies. In addition to the core classes, the student must take Econ 300, Econ 358, Econ 475, Law and Economics, nine credits of upper-division Economics classes as approved by the adviser, and a complementary minor.
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Program Description
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A.A. in Economics (100)
This major will only be offered through the 2003-2004 school year.
General Education Requirements
For a complete listing of the General Education and University Requirements go to General Education
Major Requirements
Take all of these courses
ECON 111
ECON 112
MATH 110
MATH 111
MATH 112
MATH 221
Sample Sequence of Courses
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Consult with your advisor as you plan each semester.
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| A.A. in Economics |
| First Semester |
| ECON 111 | 3 |
| MATH 110 | 3 |
| Religion | 2 |
| General Education | 6 |
| Elective | 3 |
| Total Credits | 17 |
| Second Semester |
| ECON 112 | 3 |
| MATH 111 | 2 |
| Religion | 2 |
| General Education | 6 |
| Elective | 3 |
| Total Credits | 16 |
| Third Semester |
| MATH 112 | 4 |
| Religion | 2 |
| General Education | 6 |
| Elective | 3 |
| Total Credits | 15 |
| Fourth Semester |
| MATH 221 | 3 |
| Religion | 2 |
| General Education | 8 |
| Elective | 3 |
| Total Credits | 16 |
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B.S. in Economics (720)
All economics majors must complete a complementary minor.
The graduate receiving a BS degree in economics will need to complete the prescribed course of study with a minimum GPA of 2.5 and no more than three credits with a grade of D or less.
Minor Required
General Education Requirements
As you fill the General Education and University Requirements take the classes listed below and then go to General Education for a complete listing of the requirements
Take the specific classes listed below as you fill the general education and university requirements as listed in that section of the catalog.
Take all of these courses
ECON 111
IS 140
MATH 110
AND
Take 1 Course
ENG 312
ENG 315
Major Requirements
Economics Core courses. All areas of emphasis require the following courses.
Take all of these courses
ACCTG 201
ECON 112
ECON 380
ECON 381
ECON 421
ECON 499
MATH 119
MATH 221
Sample Sequence of Courses |
Consult with your advisor as you plan each semester.
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| B.S. in Economics |
| First Semester |
| ECON 112 | 3 |
| Religion | 2 |
| General Education | 10 |
| Total Credits | 15 |
| Second Semester |
| IS 140 | 3 |
| Religion | 2 |
| General Education | 10 |
| Total Credits | 15 |
| Third Semester |
| ECON 112 | 3 |
| MATH 221 | 3 |
| Religion | 2 |
| General Education | 6 |
| Total Credits | 14 |
| Fourth Semester |
| ACCTG 201 | 3 |
| MATH 119 | 4 |
| General Education | 9 |
| Total Credits | 16 |
| Fifth Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
| Sixth Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
| Seventh Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
| Eighth Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
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B.A. in Economics (725)
All economics majors must complete a complementary minor or two clusters as approved by the advisor.
The graduate receiving a BS degree in economics will need to complete the prescribed course of study with a minimum GPA of 2.5 and no more than three credits with a grade of D or less.
Minor Required
General Education Requirements
As you fill the General Education and University Requirements take the classes listed below and then go to General Education for a complete listing of the requirements
The B.A. degree requires 11 credits in a foreign language. See the general education requirement page for details.
Take all of these courses
ECON 111
MATH 110
AND
Take 1 Course
ENG 312
ENG 315
Core
Take all of these courses
ACCTG 201
ECON 112
ECON 380
ECON 381
ECON 421
ECON 499
MATH 119
MATH 221
Sample Sequence of Courses |
Consult with your advisor as you plan each semester.
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| B.A. in Economics |
| First Semester |
| ECON 111 | 3 |
| General Education | 12 |
| Total Credits | 15 |
| Second Semester |
| General Education | 15 |
| Total Credits | 15 |
| Third Semester |
| ECON 112 | 3 |
| MATH 221 | 3 |
| General Education | 9 |
| Total Credits | 15 |
| Fourth Semester |
| ACCTG 201 | 3 |
| MATH 119 | 4 |
| General Education | 9 |
| Total Credits | 16 |
| Fifth Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
| Sixth Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
| Seventh Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
| Eighth Semester |
| Elective | 3 |
| Minor Courses | 6 |
| Emphasis Courses | 6 |
| Total Credits | 15 |
Minor in Economics (149)
For a Minor in Economics the student must take Econ 111, Econ 112 and complete 15 credits of upper-division economics courses as approved by the advisor.
Minor in Economics Education (165)
For a minor in Economics Education, the student must take Econ 111, Econ 112, Econ 358, Amher 170, and complete 9 credits of upper-division economics courses as approved by the advisor.
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Course Descriptions
| ECON 111 Economic Principles and Problems - Macro |
(3:3:0)
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| Fullfills GE American Institutions requirement. |
| An elementary course emphasizing the workings of the U.S. macro economy. |
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| ECON 112 Economic Principles and Problems - Micro |
(3:3:0)
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| Fullfills GE Social Science requirement. |
| An elementary course emphasizing the functioning of the price system and its effect on households and businesses. |
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| ECON 300 Managerial Economics |
(3:3:0)
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| Prerequisite: Economics 111, 112 |
| This course is designed to enhance the student's understanding of how micro economic analysis can be applied to modern business decision making. |
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| ECON 315 Quantitative Methods |
(3:3:0)
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| Prerequisite: Economics 111, 112; and Math 112 or 119 |
| This course develops the mathematical tools used in the construction and manipulation of economic models. The fact that the field of economics strives to explain how and why people buy, sell, produce, trade, pollute, give to charities, etc., means that we can quantify most of the actions we are interested in. This means that mathematics plays a central role in economics. To be sure, economists can be though of as, in part, applied mathematicians. Thus, it is essential that economics students develop a facility with the standard mathematical tools of the economist to prepare students for gradate-level economics studies (should they choose that path). |
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| ECON 358 International Economics |
(3:3:0)
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| Prerequisite: Economics 111, 112 |
| An introduction to international trade and finance. It examines international institutions, policies, and issues. |
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| ECON 380 Intermediate Microeconomics |
(3:3:0)
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| Prerequisite: Economics 111, 112, Math 119 or Math 112 |
| Intemediate microeconomic theory emphasizing theories of the firm and consumer behavior. |
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| ECON 381 Intermediate Macroeconomics |
(3:3:0)
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| Prerequisite: Economics 111,112, Math 119 |
| This course analyzes basic models of income determination which attempt to explain how the price level, the interest rate, and the level of output and employment are determined. Monetary and fiscal policies are discussed within the framework of these models, and competing theories are compared. |
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| ECON 390R |
(1-3:0:0)
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| Prerequisite: Economics 111, 112 |
| An arranged research , special project, or Econ Ed methods course. |
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| ECON 398 Professional Internship |
(3:3:0)
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| Prerequisite: Prior completion of seven of the nine 100-300 level courses in the Economics Core Requirments. |
| Students gain internship experience working in a career related position. The internship allows students to apply the knowledge gained in the classroom while gaining valuable work experience and exploring career opportunities in their field of study. As part of the 270 hours of work experience, students complete the learning objectives of the internship and undertake a special project. |
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| ECON 421 Introduction to Econometrics |
(3:3:0)
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| Prerequisite: Economics 111, 112, Math 221 |
| This course emphasizes the application of empirical methods commonly used to analyze economic phenomena. Methods of empirical analysis are used to test the validity of hypothesized economic relationships and to forecast economic trends. A mixture of theory and applied computer work with respect to estimation, hypothesis testing, model construction and development, and simulation of econometric models. Other related topics include forecasting, computer applications, and the use of econometrics in business and government. |
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| ECON 430 Economic Thought and History |
(3:3:0)
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| Prerequisite: Economics 111, 112, MATH 221 |
| This course explores the development and application of major economic doctrines from classical through contemporary economics. Contributions of selected writers and schools of thought are analyzed, with emphasis on how these theories are used in our day. |
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| ECON 440 Law and Economics |
(3:3:0)
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| Prerequisite: Economics 111, 112 |
| This course uses economic analysis to analyze the basic common law areas of torts, contracts, property, and criminal law. Economic tools are used both to understand the basic structure of the law (positive analysis), and to suggest how the law might be made more efficient (normative analysis). The course assesses whether individuals or collective action (courts) are better for addressing market failures. Transaction costs and litigation costs (among other things) are crucial to the assessment. This course is recommended for economics majors who are planning to go to law school or who intend to pursue a career in the legal field. "For the rational study of the law...the man of the future is the man of statistics and economics." (Oliver Wendell Holmes, The Path of Law, 1897) |
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| ECON 444 Regional Economics |
(3:3:0)
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| Prerequisite: Econ 111, Econ 112 |
| This course presents an economic approach to the study of regions and communities. |
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| ECON 450 Development Economics |
(3:3:0)
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| Prerequisite: Economics 111, 112, 358 |
| This course is designed to provide students with an understanding of the history, concepts and stimulus for economic development and growth. |
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| ECON 453 Money, Banking, & Financial Markets |
(3:3:0)
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| Prerequisite: Economics 111, 112, Math 221
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| Money, Banking, and Financial Markets examines money and banking issues from an economics perspective. This course is composed of three general sections. First, it considers how investors make decisions in order to maximize financial returns. Second, the course examines the nature and behavior of financial institutions relating to risk management, performance measures, and government regulations. Finally, the course analyzes various theories of monetary policy and their implications for financial markets, and the economy. |
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| ECON 454 |
(1:1:0)
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| Prerequisite: B 301, 321, 341, 361 with C- or higher and acceptance to the Business Management Integrated Emphasis program. |
| Students gain insight into the workings of the Federal Reserve System, and understand how the Federal Reserve can affect the economy and finanical markets. |
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| ECON 475 Public Economics |
(3:3:0)
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| Prerequisite: Economics 111, 112 |
| This course develops economic tools to analyze the role of the public sector in a market economy. Students examine how goverment intervenes when markets "fail" as a result of externalities, public goods, or monopoly situations; to restore efficient outcomes. The process of collective decision making is an important topic in the course. The class observes the ways that government generates revenue (mainly taxes) from the perspective of their impacts on the behavior of economic agents. Students will try to determine what types of taxes are most efficient and those that are less efficient. Finally, the course looks at the relationships between the various levels of government (national, state, and local). Thereby students can develop an economic theory of a federal system of government. |
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| ECON 499 Senior Capstone |
(1:1:0)
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| Prerequisite: Completion of Economics Major Core. |
| A one credit course designed to help prepare the student for entry into the work force or further graduate studies. |
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