Academic Bulletin Economics - 2008-09

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Faculty: F. Howland (chair), J. Burnette, C. Byun, P. Mikek, S. Richardson#, K. Widdows

#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. The second day consists of an essay exam on a previously assigned article.

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. Also, please note that Economics 262 does not count toward the major in economics for students entering in the fall of 2007 or after. 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, either Division III 252 or a Mathematics Department Statistics course must be taken before enrolling in Economics 253. In addition, Mathematics 110 or 111, or their equivalents are required for the major in economics. Mathematics 110 or 111 is best taken in the freshman year.

Recommended Sequence of Courses: The “typical” economics major takes Principles of Economics (Economics 101) in the second semester of his freshman year, the theory/empirical sequence (Economics 251, Division III 252, Economics 253, 291, and 292) during the sophomore year, electives during the junior year, and, finally, Senior Seminar (Economics 401) and electives during the senior year. In many cases we recommend that the student distribute the workload more evenly by taking Economics 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 Economics 291 and 292 does not matter, the sequence of Division III 252 in the FALL and Economics 253 in the SPRING is crucial. Economics 251 should be taken by the time the other courses in the theory/empirical sequence are completed. It is most convenient to take Economics 251 along with Division III 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 and take Economics 253 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. Economics 262 counts toward the minor, but not toward the major.

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

An Area of Concentration and High School Teaching licensure in this discipline is awarded by the Teacher Education Program. For licensure information please see the Indiana Teacher Licensing Requirements for Adolescent and Young Adult License section and for information on this specific discipline see the Content Area Course Requirements for Teaching at the Adolescent and Young Adult Licensure Level section.