Advising Handbook 2023-2024 
    
    Jul 20, 2024  
Advising Handbook 2023-2024 [ARCHIVED CATALOG]

Economics (First Year and Transfer)


Economics
Academic Bulletin

Area of Study: Social and Behavioral Science
Programs: Major and Minor
Major/Minor Exclusions:
A student majoring in Economics may not double major in Business.
A student minoring in Economics may not major in Business. 

The Economics major consists of a core of six required courses (two each in Macroeconomics, Microeconomics, and Statistics), four elective courses (two at the 200 level and two and the 400 level), a seminar (taken 2nd semester junior or first semester senior year) and the senior project (taken the semester after the seminar). 

The recommended schedule for most students is to take Introductory Microeconomics (ECON 100) and Introductory Macroeconomics (ECON 101) during their first year and Microeconomic Theory (ECON 200), Macroeconomic Theory (ECON 201) and Statistics (ECON 202 and 203) beginning their sophomore year. It is recommended that this group of six core courses is completed by the end of the first semester junior year. 

When advising a student interested in Economics, please note:

  • The order in which ECON 100 and 101 are taken does not matter. The same is true for ECON 200 and 201.
  • MATH 140 or 151 is a prerequisite to ECON 200, 201, and 202 and should be taken First year.
  • Courses numbered 011 or 010 do not count towards the major or minor. 
  • ECON 190 and 226-286 are sophomore-level electives and can be taken without ECON 200-203. 
  • FSECO201 can substitute for a 200-level elective.
  • All economics majors take an ECON 570-580 level seminar in their first semester senior year or second semester junior year. They complete their senior projects the following semester. Most students do their senior projects under the supervision of their seminar instructor.
  • There is no minor in Business.
  • Students cannot double major in Business and Economics.
  • Major Advisor: Students can approach faculty directly about being their advisor. Students in search of advisors often approach the B&E department chair, who is happy to direct students to faculty who are most appropriate.
  • Junior Seminar and Senior Comp: Students should plan to take their seminar either spring of junior year of fall of senior year. They should plan to complete their senior project during the following semester. Since the junior seminar leads into the senior project, it is NOT recommended that students take the seminar and senior project at the same time. Students planning on graduating in January should take the seminar the previous spring and the senior project in the fall semester.
  • When choosing between the Economics and Business majors, students should consider the following:
    • There is a lot of overlap between the two majors, so for most students, there is no bad choice. Generations of Allegheny alumni have gone into every field of business after majoring in Economics, English, Philosophy, Political Science, etc.
    • The Economics major requires more of the core Economics courses. The Business major requires fewer core Economics courses, but more courses overall. 
      • The Economics major requires 12 courses plus the math prerequisite. The Business major requires 13 courses plus the math prerequisite.
      • Business majors are only required to take one of the theory courses (ECON 200 or 201) and only the first Statistics course (ECON 202 but not ECON 203). Students who are interested in developing stronger quantitative skills, for example students who want to go into the fields of economics, finance, or data analytics, should consider majoring in economics.
      • The Business major requires more Business classes, such as Accounting, Introductory and Advanced Business Economics, Business Ethics, and Business Communication. Business majors are introduced to concepts in business-related fields, such as Human Resource Management, Accounting, and Marketing. Students who are interested in studying a broad set of business-related topics should consider majoring in business.

Sample Schedule for an Economics Major placing into MATH 151:

  1st Semester 2nd Semester
First-Year FS 101
ECON 101
MATH 151
FS 102
ECON 100
Sophomore ECON 200
FSECO 201
ECON 202
ECON 200-level Elective
Junior ECON 201
ECON 203
ECON 400-level Elective
Senior ECON 570-580
ECON 400-level Elective
ECON 620

Sample Schedule for an Economics Major placing into MATH 151 and studying abroad:
 

  1st Semester 2nd Semester
First-Year FS 101
ECON 100
MAth 151
FS 102
ECON 101
Sophomore ECON 200
ECON 202
FSECO 201
ECON 201
ECON203
Junior Study Abroad. Transfer back one 200-level
economics elective plus three non-economic
classes.
ECON 400-level Elective
Senior ECON 570-580
ECON 400-level Elective
ECON 620

Sample Schedule for an Economics Major starting late and placing into MATH 140:
 

  1st Semester 2nd Semester
First-Year FS 101 FS 102
Sophomore ECON 100
ECON 101
MATH 140
ECON 200
ECON 200-level Elective
ECON 200-level Elective
Junior ECON 201
ECON 202
ECON 203
ECON 400-level Elective
Senior ECON 400-level Elective
ECON 570-580
ECON 620

Minor

Successful completion of at least 24 semester hours: Introductory Microeconomics, Introductory Macroeconomics, Microeconomic Theory or Macroeconomic Theory, and three additional courses numbered 190 or higher.


Information for Transfer Students


Suggested pathway of an Economics Major for a transfer student planning to finish in 3 years. Students are expected to be transferring MATH 140 or 151, ECON 100 and 101. See sample above for Economics Major starting late and placing into MATH 140 for another sample schedule.

  1st Semester 2nd Semester
Sophomore ECON 200
ECON 202
ECON 200-level elective or
minor course
ECON 201
ECON 203
FSECO 201
ECON 200-level elective or
minor course
Junior ECON 400-level elective
Elective in minor
Study Abroad (if needed)
ECON 400-level elective
Elective in minor
Senior ECON 580, Senior Seminar
Courses for distribution and minor
ECON 620, Senior Project
Courses for distribution and minor


Suggested pathway of an Economics Major for a transfer student planning to finish in 2 years. Students are expected to be transferring MATH 140 or 151, ECON 100, 101, 200, 201, and about two ECON 200-level electives.

  1st Semester 2nd Semester
Junior 

ECON 202
ECON 400-level elective
Elective in minor

ECON 203
FSECO 201
Elective in minor
Senior ECON 400-level elective
ECON 580, Senior Seminar
Courses for distribution and minor
ECON 620, Senior Project
Courses for distribution and minor