Economics

Welcome to the Department of Economics, History, and Political Science

ECONOMICS

Advising

Concentrations
•Major
•International Business with Economics
•Minor

Faculty Schedules Fall

Courses
•Descriptions
•Fall 2009

Economics Honors Society

Economics Club

Career
•Study Abroad
•Internships
•Jobs

Resources for Economists

Fun Sites

Library

Programs

Faculty

Contact

Department News

Events

Financial Crisis, September 2008

"Most of economics can be summarized in four words: "People respond to incentives." The rest is commentary."
excerpts from Chapter 1 of THE ARMCHAIR ECONOMIST: Economics and Everyday Life by Steven E. Landsburg

"What improves the circumstances of the greater part can never be regarded as an inconveniency to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable." Adam Smith

"No science in the world is more elevated, more necessary and more
useful than economics." Carl Linnaeus, excerpts from The Economist, May 17, 2007

Economics is the branch of social science that studies how people choose to allocate scarce resources to unlimited wants. There are two main branches of economics - Microeconomics and Macroeconomics. Microeconomics examines the behavior and function of individual decision-making units i.e. business firms and households. It is applied in areas like environment, health, industrial organization, labor and urban economics. Macroeconomics examines the behavior and functioning of the aggregate economy including income, output, employment, price, wages etc. Monetary, development and international economics are some fields where the tools of macroeconomics are used.

The Economics Program offers Liberal Arts and Sciences courses which focus on understanding the principles of economics for private enterprise market economies especially, the United States economy, as well as the workings of the global economy. Undergraduate courses in economics provide broad knowledge of the field including theory and real life applications of theory. The program offers both a major, a minor and a concentration with International Business to students who are interested in professional graduate training in economics or in careers in business, law, government, or journalism.

Why Study Economics? Careers in Economics. Comments from Rest of the World Hot Major

For more detailed information, students are encouraged to inquire at the department office.

CONCENTRATIONS

Major

The degree of bachelor of science in Economics requires 36 credits. The suggested four year plan of study for a B.S. in Economics is shown here.

Requirements

Four Courses Selected from the Following

ECON 1100 Principles of Macroeconomics
ECON 1200 Principles of Microeconomics
ECON 2400 Money and Banking
ECON 3000 History of Economic Thought*
ECON 3650 Intermediate Macroeconomics
ECON 3660 Intermediate Microeconomics
MATH 2200 Calculus for Business
MATH 1800 Business Statistics
SPCH 1000 Speech

*ECON 3000 satisfies the Junior/Senior Writing Requirement

ECON 1300 Consumer Economics
ECON 2200 Comparative Economic Systems
ECON 2450 Human Resource Economics
ECON 2500 Economic Development
ECON 2550 Urban Economics
ECON 2600 Public Finance
ECON 3550 International Economics
ECON 3700 Econometrics
ECON 3750 Managerial Economics
ECON 4900 Independent Study in Economics
ECON 4940 Internship in Economics
ECON 5000 Topics in Economics
GEOG 3000 Economic Geography
BSAD 4230 Business Fluctuations and Forecasting

International Business with Economics

The suggested four year plan of study for a B.S. in International Business with Economics is shown here.

LAS Requirements	Requirements in Business Administration and Economics	And Two Courses from Either List
BSAD 1700 Introduction to Computer Information Systems for Business ECON 1100 Principles of Macroeconomics ECON 1200 Principles of Microeconomics ENGL 2400 World Literature I or ENGL 2500 World Literature II ENGL 3100 World Novel I or ENGL 3110 World Novel II IDIS 1200 Introduction to International Studies or IDIS 1800 Global Issues HIST 1150 World Civilizations III MATH 1800 Business Statistics MATH 2200 Calculus for Business SPCH 1000 Speech	BSAD 2010 Introduction to Financial Reporting BSAD 2020 Introduction to Managerial Accounting BSAD 3200 Principles of Management BSAD 3210 Human Resource Management BSAD 3300 Fundamentals of Marketing BSAD 3400 Basic Finance BSAD 3500 Business Law I BSAD 4330 International Marketing BSAD 4880 International Business Management BSAD 4890 Business Policy and Strategy ECON 3550 International Economics ECON 3600 International Finance Economics	*Microeconomics*	*Macroeconomics*
		ECON 2300 Industrial Organization ECON 2400 Money and Banking ECON 3660 Intermediate Microeconomics Theory ECON 3750 Managerial Economics	ECON 2200 Comparative Economic Systems ECON 2400 Money and Banking ECON 2500 Economic Development ECON 3650 Intermediate Macroeconomics Theory

Minor

Requirements

Four Courses Selected from the Following

ECON 1100 Principles of Macroeconomics
ECON 1200 Principles of Microeconomics

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COURSES

Courses offered in Summer I 2009
Name and Description of the Course	Instructor	Time
40031 ECON 1200: Principles of Economics: Microeconomics Students examine the theory of the consumer and the business firm in this course. Efficiency in the allocation of resources is examined in four different market structures: pure competition, pure monopoly, monopolistic competition and oligopoly.	Pirudas Lwamugira	MW 5:30-9:15 PM

Courses offered in Fall 2009
Name and Description of the Course	Instructor	Time
ECON 1100: Principles of Economics: Macroeconomics This course is a study of the theory of employment, income and growth. Stabilization policy and current problems in American capitalism are emphasized.	Michael Turk	TR 12:30-1:45
	Michael Turk	MW 12:30-1:45
	STAFF	WF 8:00-9:15
	STAFF	WF 11:00-12:15
ECON 1200: Principles of Microeconomics Students examine the theory of the consumer and the business firm in this course. Efficiency in the allocation of resources is examined in four different market structures: pure competition, pure monopoly, monopolistic competition and oligopoly.	Pirudas Lwamugira	MW 8:00-9:15
	Pirudas Lwamugira	MW 9:30-10:45
	STAFF	TR 12:30-1:45
ECON 2400: Money and Banking This course focuses on the role of money, credit and banking in the American economy. special emphasis is placed on the applicability of monetary policy to the problems of economic stability.	Pirudas Lwamugira	MW 12:30-1:45
ECON 3600: International Finance The course considers the theory and practice of financial management by governments, corporations and individuals in a changing international monetary environment. The course also discusses the influence of central governments, central banks, and international monetary institutions on interest rates, exchange rates, capital flows and financial stability.	Michael Turk	TR 11:00-12:15
ECON 3650: Intermediate Macroeconomics As a second course and more advanced treatment of macroeconomic, this course provides a detailed examination of major topics in macroeconomics. Topics of discussion include theories of consumption, investment, and growth recession, as well as efforts by the government to stabilize the economy through fiscal, monetary, or other measures. This course introduces the Keynesian, neoclassical and Marxian models of the macroeconomy.	Michael Turk	MW 2:00-3:15
ECON 3700: Econometrics This course is an introduction methods, statistical inferences and testing hypotheses. Model building techniques and their theoretical justifications are presented and evaluated in terms of their performance.	Pirudas Lwamugira	TR 12:30-1:45

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ECONOMICS HONORS SOCIETY MEMBERS

2007-2008

Elizabeth Kane
Vonmarie Rodriguez
Przemyslow Walkowski
Kevin Wersal Jr.

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ECONOMICS CLUB

Spring 2008-Present

President: Vonmarie Rodriguez
Treasurer:Christelle Kamelu
Media Person: Emma McHugh

Events

Spring 2009

March 31, 2009: Sheila Sykes, VP of Finance of Fitchburg State College, Miller Oval
February 10, 2009: Visit to the City Hall with Fitchburg Mayor Lisa Wong
January 27, 2009: Erin Kelleher, Director of Career Services, Fitchburg State College, Miller Oval

Fall 2007: Trip to the Federal Reserve, Boston

Trip to the Federal Reserve Boston, Fall 2007

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CAREER

Best Entry-Level Salaries, 2007

Interns

The Carter Center
City of Worcester, Worcester, MA
Council of Economic Advisers Internships, Washington D.C.
Federal Reserve, Boston, MA
Global Internships
Massachusetts Alliance for Economic Development, MA
New England Public Policy Center, Boston, MA
North Central Massachusetts Economic Development Council
Oxfam America
Research Assistant Program, International Monetary Fund, Washington D.C.
Summer Placements
Washington Center
Wilson Center, Washington D.C.
Worcester Regional Research Bureau

Jobs

Economics Jobs
International Development Jobs
Economics Jobs
Economic Development Research Group

Jobs Posted - 20 September, 2008

Abt Associates

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RESOURCES FOR ECONOMISTS

1. Advice for Applying to Graduate School in Economics
2. AmosWEB
3. Ask Dr. Econ
4. Business Week
5. Economist
6. Economist's View
7. Financial Times
8. Economists Portaits
9. Graduate Studies in Economics
10. Greg Mankiw's Economic Blog
11. Minneapolis Fed Economics Literacy Test
12. NCEE Test Your Economic Literacy
13. OANDA Currency Converter
14. Online Interest Calculator
15. Undergraduate Economics
16. Video on Stand-Up Economics
17.Wall Street Journal
18. What's a Dollar's Worth?
19. Writing for Economists

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FUN SITES

1. Great Economists Treasure Hunt
2. Economist Jokes
3. Why Study Economics?

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