Academic Bulletin Economics - 2005-06

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Faculty: K. Widdows (chair), H. Barreto**, J. Burnette, F. Howland, P. Mikek, J. Naylor, T. Nesbit, S. Richardson#

**Sabbatical leave, fall semester
#Part-time

The Department of Economics is dedicated to providing a rigorous, challenging curriculum that emphasizes economic theory and focuses on how economists view the world. Students master a wide variety of philosophical, technical, logical, computer, and quantitative skills. The Wabash College Economics major is taught to evaluate arguments and policies, analyze empirical data, and present his views, rationales, and results.

Senior Comprehensive Exams: The Written Comprehensive Exam in Economics is spread over two days and designed to evaluate the student's understanding of both core concepts and the wide variety of applications of economic theory. The first day consists of an objective, standardized test that contains questions from every economics course offered at Wabash as well as a computer-based quantitative component. The second day consists of an essay exam comprising separate micro and macro sections. The interested student should visit the Department of Economics home page (http://www.wabash.edu/depart/economic/) to see the last several years of written comps essays.

Requirements for the Major: Economics majors must complete at least nine course credits in Economics which must include Economics 291, 292, 251 (1/2 credit), Division III 252 (or its equivalent), Economics 253, and 401. *Please note that Division III 252 does not count toward the nine required economics credits. In addition, the major must include at least two courses with a prerequisite of Economics 291 or Economics 292 (not including Economics 401).

A course in statistics is required for Economics 253 but does not count toward the major. Division III 252 or a Mathematics Department Statistics course must be taken before enrolling in Economics 253. In addition, Mathematics 111 or its equivalent is required for the major in economics. Mathematics 111 is best taken in the freshman year.

Recommended Sequence of Courses: The “typical” economics major takes Principles of Economics (ECO 101) in the second semester of his freshman year, the theory/empirical sequence (ECO 251, DV3 252, ECO 253, ECO 291, and ECO 292) during the sophomore year, electives during the junior year, and, finally, Senior Seminar (ECO 401) and electives during the senior year we recommend that the student opt to distribute the workload more evenly by taking Eco 292 in the Fall of his junior year.

Although the above sequence is preferred, there can be flexibility in this basic pattern. The well-prepared first-year student might want to begin the study of economics in the first semester of the freshman year, while “late contractors” (students who decide to major in economics during their sophomore or even junior years) may choose a more tightly packed junior/senior year combination of economics courses.

The prospective economics major should be careful in planning the theory/empirical sequence year. Although the order of ECO 291 and 292 does not matter, the sequence of DV3 252 in the FALL and ECO 253 in the SPRING is crucial. ECO 251 should be taken by the time the other courses in the theory/empirical sequence are completed. It is most convenient to take ECO 251 along with DV3 252 in the fall. Thus, if the economics major is planning to study off-campus as a second semester junior, it is absolutely imperative that he begin the empirical sequence as a sophomore.

Contact any member of the Economics Department if you have questions, need help in making course decisions, or want advice concerning the study of economics at Wabash and beyond.

Requirements for the Minor: Five course credits in economics including either Economics 291 or 292.

The department does not award credit for internships or business classes taken off campus.

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