JCU Undergraduate Bulletin 2005-2007: Economics

Economics (EC)

Professors: F. J. Navratil, J. C. Soper, T. J. Zlatoper (Interim Dean), D. C. Schirm (Chair), L. Brooks
Associate Professors: L. R. Cima, L. N. Calkins, W. O. Simmons
Assistant Professors: A. M. Welki, S. K. Kahai, I. A. Mirzaie

The primary goal of the economics faculty is to provide its students, the university, and the community with an understanding of economic theory and practice, through quality teaching and advising, significant research, and appropriate community involvement.

The general goals of the economics program are to develop the following qualities in our students:

Proficiency in the use of the language of economics in both written and oral form based on knowledge and understanding of economic theory and practice.
Cultivation of critical thinking skills and development of a logical, ordered approach to problem solving.
Ability to apply the scientific method to problems in social science research.
Preparation of students for graduate study in economics, and for transition into the workforce.
Understanding of the historical significance of economics and its continuing contribution to social outcomes.
Ability to evaluate positive and normative economics within the context of their moral and spiritual principles.

Economics is the study of scarcity, of choice, and of efficiency. As British economist Alfred Marshall wrote, "Economics is a study of mankind in the ordinary business of life." As such it draws on history, philosophy, and mathematics to address such diverse topics as product and resource pricing, inflation, unemployment, interest-rate determination, environmental issues, and federal government expenditure and taxation policies. In addition, the theories and models of economics have been applied to non traditional areas, including marriage, child rearing, criminal behavior, discrimination, and ethics.

Major and Minor

Economics is considered one of the most flexible of all the potential fields of undergraduate study for two reasons. First, students can choose to major in economics either through the College of Arts and Sciences (bachelor of arts), or through the Boler School of Business (bachelor of science). Second, a major in economicsprovides a comprehensive base for a variety of academic and professional fields. It is an ideal preparation for careers in business or for many graduate programs. Economics majors find employment in banking and other financial institutions, sales, consulting firms, government service, and teaching. In addition, many graduate programs—most notably law, business administration, and economics—regard the study of economics to be particularly beneficial because of its logical, ordered approach to problem solving.

Furthermore, the study of economics—the only social science honored by its own Nobel Prize—is intellectually challenging and rewarding. Economists use the scientific method to develop and test hypotheses and with their findings address vital current issues.

Students who choose to major in economics may apply to the department after completing EC 201-202. Acceptance as a major requires a 2.0 cumulative grade-point average and a 2.0 grade-point average in previous course work in economics.

Interdisciplinary Concentrations

International Economics/Modern Languages — offered in conjunction with the Department of Classical and Modern Languages and Cultures.
International Business — offered in conjunction with the other academic disciplines of the Boler School of Business and the Department of Classical and Modern Languages and Cultures.
International Studies — offered in conjunction with the Center for Global Education.
Mathematics and Economics — offered in conjunction with the Department of Mathematics and Computer Science and strongly recommended for those who plan to do graduate work.
Public Administration and Policy Studies — offered in conjunction with the Department of Political Science.

Students interested in one of these concentrations should see the section in this Bulletin on interdisciplinary concentrations or, for any of them, the chair of one of the departments involved.