The objective of the economics program is to give students a broad background and knowledge of domestic and international economic systems that are essential for business managers in today’s competitive global economy. Graduates can apply economic theory to problems relating to market structures, resource markets, employment, and fiscal and monetary policies. Economists occupy a wide range of positions in profit and non-profit enterprises as well as in government. The economics concentration for business majors is highly recommended for pre-law students, as well as for students aiming for careers in banking, finance, government, or industry.
Students may also pursue a major or minor in this field. The requirements for the B.A. and B.S. degrees in economics can be found below. Students expecting to pursue graduate studies in economics are encouraged to pursue the B.S. degree. Students doing an Economics Concentration in Business are encouraged to take ECON 351 Managerial Economics and ECON 352 Money & Banking. Note that ECON 302 has a prerequisite of ECON 202 with a B- or better and ECON 301 has a prerequisite of ECON 201 with a B- or better.
Economics Concentration: 15 credits |
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| One of the following two courses: | 3 credits |
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ECON 302 Intermediate Macroeconomics
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ECON 352 Money and Banking
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| One of the following two courses: | 3 credits |
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ECON 301 Intermediate Microeconomics
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ECON 351 Managerial Economics
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| ECON 355 Regression Analysis | 3 credits |
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ECON 320-340 Applied Microeconomics course |
3 credits |
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ECON upper division elective |
3 credits |
In addition to a concentration under the Bachelor of Business Administration degree, Economics offers two degrees and one minor:
Bachelor of Science, Economics major
Bachelor of Arts, Economics major
Minor in Economics
The mission of the Economics program is to give students a broad background and knowledge of domestic and international economic systems that are essential for people in today’s competitive global economy. To this end, two Economics majors are offered. The B.S. Major in Economics includes extensive coursework in mathematics as well as economics in preparation for graduate study in economics and careers requiring strong quantitative skills. The B.A. Major in Economics is offered for students who want an extensive background in economics in preparation for careers in business or government as well as for those pursuing advanced study in law or business. A minor in Economics is also offered for students with other majors who need less extensive knowledge of economics. Regardless of the chosen degree, graduates can apply economic theory to problems relating to market structures, resource markets, employment, and fiscal and monetary policies. Students expecting to go into a business field are encouraged to take courses in accounting and may want to consider the general business minor or the minor in analytical finance offered by the School of Business Administration.
Lower Division
The First-Year Seminar (FYS) introduces new Gonzaga students to the University, the Core Curriculum, and Gonzaga’s Jesuit mission and heritage. While the seminars will be taught by faculty with expertise in particular disciplines, topics will be addressed in a way that illustrates approaches and methods of different academic disciplines. The seminar format of the course highlights the participatory character of university life, emphasizing that learning is an active, collegial process.
A one-semester economics course for General Business minors and others interested in a one-semester survey course. Key microeconomic and macroeconomic models which are critical to the development of modern economics are explored. Analysis includes theories of supply and demand, theory of the firm, pricing, employment, monetary and fiscal policy, and international trade and finance.
Equivalent:
ECON 103 - Taken before Fall 2007
ECON 270H - Successful completion
ECON 270H - Successful completion
Economics of the firm and the consumer. Principles underlying supply and demand; analysis of competition, monopoly, and other market structures; labor and other resource markets; international trade; taxation. Fall and Spring.
Equivalent:
ECON 101 - Taken before Summer Doctoral 2003
MBUS 500 - Successful completion
MBUS 500 - Successful completion
The structure and functioning of the national economy. Particular attention is given to determinants of national income, employment and the price level, fiscal and monetary policies, international trade, exchange rates, and trade restrictions. Fall and Spring.
Equivalent:
ECON 102 - Taken before Summer Doctoral 2003
Topic to be determined by instructor.
Lower division topic to be determined in consultation with the faculty. Directed study requires completion of a form and permission from Department Chair. Zagweb registration is not available. Summer only.
Upper Division
The focus of this course is economic decision-making in consumer and producer theory. Topics include: consumer's budget constraints and utility maximization, producer's profit maximization and cost minimization, comparison of decisions under perfect competition and monopoly, and externalities.
Prerequisite:
(ECON 201 Minimum Grade: B-
or ECON 270H Minimum Grade: B-)
and (MATH 114 Minimum Grade: D
or MATH 148 Minimum Grade: D
or MATH 157 Minimum Grade: D)
Equivalent:
ECON 403 - Taken before Summer 2016
Analysis of the determinants of the levels of national output and prices and the effects of monetary and fiscal policies.
Prerequisite:
ECON 202 Minimum Grade: B-
and (MATH 114 Minimum Grade: D
or MATH 148 Minimum Grade: D
or MATH 157 Minimum Grade: D)
Game theory is a study of strategic decision-making. Participants in games make decisions that are not only in their best interests but also anticipate and incorporate the fact that their decisions (and subsequent actions) have an impact on others and vice versa. This course includes a variety of economic applications of game theory in fields such as industrial organization and public economics.
Prerequisite:
(ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D)
and (MATH 114 Minimum Grade: D
or MATH 148 Minimum Grade: D
or MATH 157 Minimum Grade: D)
Equivalent:
ECON 303H - Successful completion
This course is a presentation of a broad range of global issues relevant to a number of disciplines including economics, political science, and international studies, focusing primarily on developing regions of the world. Topics include: economic growth and inequality, international trade, diseases/healthcare, education, and foreign aid. Spring.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
or ECON 200 Minimum Grade: D
or ECON 200 Minimum Grade: D
Equivalent:
INST 343 - OK if taken since Fall 1996
Explores the economic incentives present in both professional and amateur sports. Topics analyzed include league structure, advertising, ticket pricing, team decision making, labor relations, incentive structures, stadium financing and Title IX. Summer.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
The focus of this course is on international trade theory and macroeconomic issues related to international finance. Topics include: economic analysis of the basis for international specialization and trade; gains from trade; the balance of international payments; tariffs; international monetary problems; exchange rate adjustments; capital movements; and international economic organizations. Upon sufficient demand.
Prerequisite:
ECON 301 Minimum Grade: D
or ECON 351 Minimum Grade: D
Equivalent:
ECON 411 - Taken before Summer 2016
An economic perspective on labor market issues. Explores recent controversial topics such as inequality in earnings, race and sex discrimination in labor markets, immigration, minimum wage laws and labor unions, health and safety regulations in the work-place.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
Equivalent:
ECON 312 - Taken before Summer 2016
SOSJ 320 - OK if taken since Fall 2016
SOSJ 320 - OK if taken since Fall 2016
Explores the economic dimensions of environmental topics such as air and water pollution, deforestation, non-renewable resource depletion, recycling, global warming. The course studies the extent of environmental problems and alternative solutions.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
or ECON 200 Minimum Grade: D
Equivalent:
ECON 304 - Taken before Summer 2016
ENVS 320 - Successful completion
ENVS 320 - Successful completion
Develops economic tools used to analyze government expenditures and taxation. Discussion of public policy issues such as welfare reform, Social Security, and tax reform.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
Equivalent:
ECON 305 - Taken before Summer 2016
Examines the rationale for and effects of various government policies toward business. Analyzes the economic consequences of market power. Emphasis is placed on antitrust policy as a response to market power.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
Equivalent:
ECON 310 - Taken before Summer 2016
Consideration of microeconomic theory to the specialized area of health care. Topics include what makes health care distinctive as an economic good, the supply and demand for health and healthcare in theory and practice, and economic proposals to overcome market failure in the health care industry.
Pre-requisite: ECON 201
This course focuses on the insights gained from incorporating psychology into economic and financial modeling, an approach that leads to a better understanding of economic incentives, behavior and how individuals make decisions. By examining human behavior in this way, we are able to address and better design policies that improve decision-making in a variety of settings. As such, this class will examine how individuals make decisions in risky scenarios, nudges to alter decision-making and many other tools that can be used to influence choices. Summer.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
Applications of economic theory to business decisions. Topics include: demand analysis, economic forecasting; market structure; competition; pricing decisions; and price discrimination.
Equivalent:
ECON 400 - Taken before Summer 2016
This course will focus on the principles of money, credit, banking, and financial markets. It will explore the roles of the Federal Reserve and the banking system in stabilizing the financial system, employment, and prices. The course will also look at the international financial system.
Prerequisite:
ECON 202 Minimum Grade: D
Equivalent:
ECON 309 - Taken before Summer 2016
This course will provide the financial mathematical preparation to prepare students for the actuarial exam in financial mathematics or the charter financial analyst exam. Students will develop the mathematical foundations in relevant topics. Topics covered include the time value of money; annuities and cash flow; loans; bonds; immunization; interest rate swaps; and determinants of interest rates. This course will be required of all students pursuing the Applied Mathematics major with Actuarial Science concentration
Concurrent:
ECON 352
Introduction to the construction and use of regression models and data analysis. Topics include estimation and inferential techniques in Simple and Multiple Regression. Emphasis on interpreting and understanding regression results. Other data topics as applicable.
Pre-requisite: ECON 201 and ECON 202 and (BUSN 230 or MATH121 or MATH 321)
Topic to be determined by instructor. Summer only.
A course focused on reading and discussing the works of Adam Smith, Karl Marx, Frederick Engels and Henry George along with Pope Leo XIII on The Condition of Labor. Supplemented with material on other important economic thinkers from 1500 to 1891.
Emphasis on the works of Institutionalist, neoclassical, Austrian, Keynesian, post-Keynesian and Chicago School economists.
Prerequisite:
ECON 202 Minimum Grade: D
A survey of the origins and development of the European Community; its relation to GATT (General Agreement on Trade and Tariffs); monetary coordination; monopoly, competition, and the balances of payments. Florence campus only.
The focus of this course is on international trade theory and macroeconomic issues related to international finance. Topics include: economic analysis of the basis for international specialization and trade; gains from trade; the balance of international payments; tariffs; international monetary problems; exchange rate adjustments; capital movements; and international economic organizations.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
or ECON 101 Minimum Grade: D
The Core Integration Seminar (CIS) engages the Year Four Question: “Imagining the possible: What is our role in the world?” by offering students a culminating seminar experience in which students integrate the principles of Jesuit education, prior components of the Core, and their disciplinary expertise. Each section of the course will focus on a problem or issue raised by the contemporary world that encourages integration, collaboration, and problem solving. The topic for each section of the course will be proposed and developed by each faculty member in a way that clearly connects to the Jesuit Mission, to multiple disciplinary perspectives, and to our students’ future role in the world.
Mathematical and statistical techniques applied to economic and business research and forecasting. Students will undertake a research project.
Equivalent:
ECON 300 - Taken before Summer 2016
Introduction to forecasting and time series analysis. Topics include unit roots, cointegration, forecasting methods, vector error-correction and vector autoregression modeling, dynamic panel data, and appropriate use of time series modeling. Emphasis will be on theoretical, methodological and applied topics, and much of the work will be hands-on numerical analysis.
Prerequisite:
(ECON 355 Minimum Grade: C-
or MATH 425 Minimum Grade: C-)
and (MATH 321 Minimum Grade: C-
or MATH 421 Minimum Grade: C-)
and (ECON 201 Minimum Grade: C-
and ECON 202 Minimum Grade: C-)
Topics and credit by arrangement.
This course dives into the fascinating world of beer and wine from an economic perspective. It explores the intricacies of production, distribution, and consumption of these beverages, examining how they are influenced by economic forces, cultural trends, and regulatory environments. The course will also investigate the global impact of these industries, including their role in international trade, environmental concerns, and socio-economic implications.
Prerequisite:
ECON 201 Minimum Grade: D
or ECON 270H Minimum Grade: D
Individually-designed course at the upper division level appropriate to the student's major. Directed Study requires completion of a form and permission from the Department Chair. Zagweb registration is not available. Summer only.
Work experience directly related to the student's major area of study. Internship requires completion of an application form, a 3.00 GPA and permission from the department. Zagweb registration is not available. Fall, Spring, and Summer.
Required of all College of Arts and Sciences Economics majors. Students should take ECON 499 in the semester before they plan to graduate. Fall and Spring.