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Academic Bulletin Economics - 2012-13

Currently viewing 2012-13 bulletin

Faculty: F. Howland (chair), J. Burnette, C. Byun, J. Hatcher~, P. Mikek, 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 ECO 291, 292, 251 (1/2 credit), Division III 252* (or its equivalent), ECO 253, and 401. *Please note that DV3 252 does not count toward the nine required economics credits. Also note that ECO 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 ECO 291 or ECO 292 (not including ECO401). A course in statistics, either Division III 252 or a full credit  Mathematics Department Statistics course above the 100 level must be taken before enrolling in ECO 253. In addition, MAT110 or 111, or an equivalents is required for the major in economics. MAT 111 is best taken in the freshman year; students placed into MAT 010 should enroll in ECO 101 their freshman year and take MAT 010 the fall semester of their sophomore year, and MAT 110 in the spring semester of their sophomore 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, 291, and 292) during the sophomore year, electives during the junior year, and, finally, Senior Seminar (ECO 401) and electives during the senior year. It is recommended, but not required, that students take ECO 291 before 292.

Although the above sequence is preferred, there can be flexibility in this basic pattern. The wellprepared 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.  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 and 291 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 and take ECO 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. ECO 262 counts toward the minor, but not toward the major (DV3 252 does not count toward the minor.).

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

An Area of Concentration in Education and Middle and High School Teaching licensure (grades 5-12) with this major is administered through the Teacher Education Program. For Education AOC and teaching licensure information, please see the Teacher Education section of the Academic Bulletin. Students are asked to consult with their academic advisor AND the Director of Teacher Education to learn more about course and licensure requirements.

 Curriculum Map/Path

Please note that all bolded courses are required for a major. 

  Quantitative Economic Theory Only Principles or consent of instructor required
Freshman
Calculus
101: Principles of Economics
All college courses
Sophomore
251: Economic Approach w/ Excel
(1/2 semester; Fall)
Div 3-252: Statistics in Social Science
(1/2 semester; Fall)
253: Econometrics
(Spring)

 

291: Intermediate Micro
292: Intermediate Macro
262: Financial Institutions and Markets
213: U.S. Economic History
214: European Economic History
224: Development
222: Comparative Economic Systems
277: Global Economy
277: Game Theory

Junior/
Senior

353: Topics in Econometrics
331: Public Finance
332: Labor
333: Industrial Organization
321: International Trade
361: Corporate Finance




 

362: Money & Banking
322: International Finance

 



 

Independent Study Courses
Special Topics Courses

 

401: Senior Seminar
491: Advanced Micro
492: Advanced Macro

 

 


Course Title Credits Prerequisites
 
ECO 101 Principles of Economics 1

 Prerequisite: None.

 
ECO 205 Development of Economic Thought (HIS 236) 1

  Prerequisite: None.

 
ECO 213 Topics in Economic History: US (HIS 245) 1

Prerequisite: ECO 101.

 
ECO 214 Topics in Economic History: European (HIS 235) 1

Prerequisite: ECO 101.

 
ECO 220 The Global Economy 1

Prerequisite: ECO 101.

 
ECO 221 Economics of the European Union 1

Prerequisite: ECO 101.

 
ECO 222 Comparative Economic Systems 1

Prerequisite: ECO 101.

 
ECO 224 Economic and Political Development (PSC 324) 1

Prerequisite: ECO 101.

 
ECO 232 Public Policy 1

Prerequisite: ECO 101.

 
ECO 234 Evironmental Economics 1

Prerequisite: ECO 101.

 
ECO 235 Health Economics 1

Prerequisite: ECO 101.

 
ECO 241 Game Theory 1

 Prerequisite: None.

 
ECO 251 The Economic Approach with Microsoft Excel 1/2

Prerequisites: MAT 110 or 111, concurrent registration in MAT 111.

 
ECO 253 Introduction to Econometrics 1

Prerequisite: DV3 252.

 
ECO 262 Financial Institutions and Markets 1

Prerequisite: ECO 101.

 
ECO 277 Special Topics 1

Prerequisite: ECO 101.

 
ECO 287 Independent Study 1 or 1/2

 Prerequisite: Permission of the instructor and the department chair.

 
ECO 288 Independent Study 1 or 1/2

 Prerequisite: Permission of the instructor and the department chair.

 
ECO 291 Intermediate Microeconomic Theory 1

Prerequisites: ECO 101 and MAT 110 or 111.

 
ECO 292 Intermediate Macroeconomic Theory 1

Prerequisites: ECO 101 and MAT 110 or 111.

 
ECO 321 International Trade 1

Prerequisites: ECO 251, 253, 291.

 
ECO 322 International Finance 1

Prerequisites: ECO 292, 253.

 
ECO 331 Economics of the Public Sector 1

Prerequisites: ECO 291, 253.

 
ECO 332 Labor Economics 1

Prerequisites: ECO 291, 253.

 
ECO 333 Industrial Organization and Control 1

Prerequisites: ECO 251, 253, 291.

 
ECO 353 Topics in Econometrics 1

Prerequisites: ECO 253, and 291, or 292. MAT 223 (Linear Algebra) recommended.

 
ECO 361 Corporate Finance 1

Prerequisites: ECO 251, 253, and 291.

 
ECO 362 Money and Banking 1

Prerequisites: ECO 253 and 292. 

 
ECO 363 Topics in Macroeconomics 1

Prerequisites: Economics 253, 292.

 
ECO 364 Case Studies in Macroeconomics 1

Prerequisites: ECO 251, 253.

 
ECO 377 Special Topics 1

Prerequisites: ECO 101, 253, 291 or 292.

 
ECO 387 Independent Study 1 or 1/2

 Prerequisite: Permission of the instructor and the department chair.

 
ECO 388 Independent Study 1 or 1/2

 Prerequisite: Permission of the instructor and the department chair.

 
ECO 401 Senior Seminar 1

Prerequisites: ECO 251, 253, 291, 292.

 
ECO 491 Advanced Microeconomic Theory 1

Prerequisites: ECO 291, MAT 111, MAT 112

 
ECO 492 Advanced Macroeconomic Theory 1

Prerequisites: ECO 292 and MAT 110 or 111.

 
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