Program
The study of economics explores the way societies produce and distribute goods and services. Faculty members in Capital's economics program believe strongly that economics students must have a thorough background in the liberal arts. The economics major provides careful preparation in economic theory and work in applied fields of economic study.
There are two main areas of economics
Macroeconomics is the study of aggregates for the economy. The macroeconomist studies such issues as unemployment, inflation, the budget deficit, the money supply, interest rates and the trade deficit. Macroeconomists often are asked to explain major shifts in the economy, and to predict what will happen in the future. They are employed by banks, manufacturing companies, insurance companies and other businesses and organizations interested in what is happening to the economy.
Microeconomics is the study of individual markets. For example, micro-economists study the price of oil (or any other product), rent control, wage differentials and agricultural policies. They often are asked to examine how a policy will affect a particular market. There are a number of microeconomists working in the health sector and for public utilities.
Approach
The student who majors in economics will complete approximately 39 hours of course work in additional to the general education program. With the help of an adviser, students are encouraged to take additional courses that enhance careers that they may be considering. For example, students who are considering careers in finance or law may benefit from additional accounting or political science courses. Students who are considering post-graduate studies in economics should take additional mathematics and statistics courses.
Careers and Placement: Many of Capital's economics majors go on to graduate school, either in economics as preparation for careers as professional economists, or in law, business or public administration. Most economics graduates do not practice economics, but an economics degree is a highly valued degree because it indicates a strong aptitude for analytical reasoning and good quantitative skills, as well as good writing skills.
Some economics graduates enter the business sector directly, with placement possible at almost any kind of firm. In particular, economics majors often are recruited by banks, insurance companies and the public sector.
A graduate degree often is needed for employment as a professional economist in the public sector, and a doctorate usually is needed for employment at universities or in international organizations such as the World Bank or the IMF.
Recent Capital economics graduates have been accepted into graduate economics programs - and given substantial scholarships - by universities such as Cornell, Florida State, Ohio State, Clemson, North Carolina, and West Virginia.
Some majors go to graduate school in an area other than economics. As many Capital graduates have found, the analytical thinking skills that are developed in an economics major often are the same skills necessary for success in law school and/or an MBA program.
Students who want to earn a minor in economics are required to complete at least 18 hours, including introduction to political economy, economic principles, intermediate microeconomics, intermediate macroeconomics and two economics electives.
Sample Economics Schedule
General Education Goals - 36 hours (30 after waivers)*
Twelve General Education goals must be met:
- Reading and Writing Skills
- Speaking and Listening Skills
- Arts
- Religion
- Humanities
- Global Issues
- Quantitative Reasoning
- Natural Sciences
- Lifetime Health
- Social Sciences
- Cultural Diversity
- Ethical Thought
* All undergraduates must demonstrate that the General Education goals have been met.
Quantitative Courses - 9 hours
- College Algebra (or College Algebra and Trigonometry or Calculus I)
- Business Calculus (or Calculus II)
- Elementary Statistics (or Mathematical Statistics)
Required Courses - 12 hours
- Introduction to Political Economy
- Economic Principles
- Intermediate Macroeconomic Theory
- Intermediate Microeconomic Theory and Practice
Electives - 18 hours
Six economics electives. Students are encouraged to pursue an independent study project or an internship as one of the electives.
Capital offers a wide range of economics electives:
- Money and Banking
- Labor Economics and Industrial Relations
- International Economics
- International Finance
- Economic History of the United States
- History of Economic Thought
- Comparative Economic Systems
- Industrial Organization
- Environmental Economics
- Econometrics
- Public Finance
- Advanced Microeconomics
In addition, there are individual study, senior projects and internship opportunities, as well as selected topics of study.
All courses subject to availability and adviser approval.