Economics B.A. with a Concentration in Methods and Models

The B.A. in Economics provides a basis for professional work in business and government or for graduate study. In addition, the B.A. in Economics complements many other areas of study, such as political science, history, or mathematics, as part of a double major. The Methods and Models concentration is intended for students who are considering the pursuit of graduate training in economics, business or finance. Students should consult with their academic adviser for help in determining which concentration will best suit their goals for future study or career.

Degree Requirements

A major in Economics with Concentration in Methods and Models is achieved by completion of the following requirements, in addition to the General Education and electives required for a degree:

Required Core Courses

ECO 301Intermediate Macroeconomics

1 Course Credit

ECO 302Intermediate Microeconomics

1 Course Credit

ECO 250/MAT 438Applied Statistics

1 Course Credit

ECO 350Econometrics

1 Course Credit

NOTE: Knowledge of ECO 101 and ECO 102 will be required for admission to ECO 301 and ECO 302. This may be accomplished by waiving these courses by Advanced Standing examination, by transfer credit, or by successful completion of ECO 101 and ECO 102.  Students should also complete or waive MAT 115, MAT 125, and any other prerequisites to required courses in the major.

Required Capstone Course

ECO 310Research in Economics I

1/2 Course Credit

ECO 410Research in Economics II

1/2 Course Credit

ECO 310 and ECO 410: 1/2 credit

Required Distribution Courses

Three (3) additional ECO courses at the 300 level or above

Required Collateral Courses

MAT 135Calculus I

1 Course Credit

MAT 135: or waiver

Two courses selected from

MAT 214Linear Algebra

1 Course Credit

MAT 225Calculus II

1 Course Credit

MAT 311Probability

1 Course Credit

MAT 312Operations Research

1 Course Credit

MAT 330Calculus III

1 Course Credit

MAT 438Statistics

1 Course Credit

See “Other Considerations and Recommendations,” to follow.

Optional Concentration in Finance

With either the Concentration in Methods and Models, or with the International Politics and Policy Concentration, Economics majors may elect to complete an Optional Concentration in Finance.  This optional concentration does not replace the requirement to complete a Concentration in either Methods and Models, or in International Politics and Policy, but can be added as an Optional Concentration to either.

Four Collateral Courses

BUS 120Accounting I

1 Course Credit

BUS 346Investment Analysis

1 Course Credit

BUS 366Financial Management

1 Course Credit

BUS 368Intermediate Corporate Finance

1 Course Credit

Required Courses for the Optional Finance Concentration

ECO 332Money and Banking

1 Course Credit

ECO 357International Finance (BUS)

1 Course Credit

Note: The ECO 332 and ECO/BUS 357 courses will satisfy existing requirements for both the Methods and Models and International Politics and Policy concentrations.  With careful planning, these do not have to represent additional courses for the Finance concentration.

Exploring the Major— Students considering Economics as a major should begin exploring the discipline through the Department’s introductory courses—ECO 101 and ECO 102, and through various Special Topics courses offered during regular or summer terms. Also, because mathematics is a significant component of the Economics major with a Concentration in Methods and Models, prospective students are encouraged to explore math courses as well.

Admission to the Major— No special curricular requirements must be met for admission into this major.

Course Sequencing Considerations (in order to complete degree requirements within eight terms)— Prospective Economics majors should: 1) Complete the Developmental Mathematics requirement, if applicable, as soon as possible because this is a prerequisite for both ECO 101 and ECO 102, which are the foundational courses for Economics, and one or both are therefore required for any 300-level ECO course. 2) Continue on with the Mathematics sequence, completing or waiving MAT 115, MAT 125, and MAT 135, the latter of which is a required collateral course. These Mathematics courses serve as prerequisites for core courses required of Economics majors. In addition, they serve as prerequisites for two additional required math collaterals. MAT 115 also serves as one of the prerequisites for ECO 250, one of the core courses in the major, which must be taken prior to ECO 350, also a core course. It is also vital to complete or waive MAT 135 as early as possible because it is a prerequisite for the other three core courses in the Economics major. Junior standing is preferred for ECO 310 and senior standing for ECO 410. Students may enroll in up to two departmental Internship experiences for a maximum of three credits. However, no more than one credit from Internships may be counted toward the major requirements.

Proficiency Requirements for Retention in and Completion of the Major— In addition to completing specified course requirements, each student must satisfy departmental standards for written and oral communication. For more about these standards, please see the Department’s website. Opportunities to do so are provided in a number of courses throughout the curriculum. The Department also requires that a majority of courses taken to satisfy major and minor degree requirements must be taken at Berea College.

Other Considerations and Recommendations— The selection of collateral courses in Mathematics depends to some extent on the intended graduate-school emphasis. For those students interested in an applied program or a program with a policy emphasis, such as urban studies or public administration, MAT 135 should be supplemented by MAT 225 and MAT 312. For graduate programs that are more theoretical, MAT 135 (or waiver), MAT 214, MAT 225, and MAT 311 are a minimum; and MAT 330, MAT 437, and MAT 438 are strongly recommended.