May 28, 2024  
2015-2016 University Catalog 
2015-2016 University Catalog [ARCHIVED CATALOG]

Economics, Department of

Return to {$returnto_text} Return to: Mihaylo College of Business and Economics


Department Chair

Dipankar Purkayastha

Department Office/Website

Steven G. Mihaylo Hall 3313


Kazi Ahmed, Gabriela Best, Radha Bhattacharya, Rokon Bhuiyan, Nek Buzdar, James Dietz, Ermira Farka, Adrian Fleissig, Andrew Gill, Chiara Gratton-Lavoie, Jane Hall, Larry Howard, Nicholas Huntington-Klein, Sherif Khalifa, Kristin Kleinjans, Emmanuel Lartey, Mitchell Livy, Robert Mead, Robert Michaels, Howard Naish, Huiran Pan, Aaron Popp, Dipankar Purkayastha, Morteza Rahmatian, Denise Stanley, Feng Xiao, Fang Zhang


As a scholarly discipline, economics is over two centuries old. The nature of economic analysis has been described by John Maynard Keynes as “… a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessors to draw correct conclusions.”

According to the National Association of Business Economists (NABE), “The key skills of the economic analyst compared to other business analysts is the ability to link industry/market developments to the overall economy, i.e., to see the forest as well as the trees. The broad training of economists provides a flexibility that allows them to turn their hand to a broad range of analytical problems - a critical attribute in a company experiencing a redirection of industry interests.”

Students pursuing graduate degrees in many other fields, such as the social sciences, business, public administration, public health, environmental studies, urban studies, law, and journalism find that economics is their best choice for an undergraduate major or minor, given the extensive economic content of these programs. Several studies have shown that lawyers with undergraduate degrees in business economics earn more than other lawyers. 1,2

1 Black, D., S. Seth, and L. Taylor. “The Economic Reward for Studying Economics.” Economic Inquiry, V41, n3, July 2003, 365-77
2 Craft R.K., and J.G. Baker. “Do Economists Make Better Lawyers? Undergraduate Degree Field and Lawyer Earnings.” Journal of Economics Education, Summer 2003, 263-281.

Learning Goals and Student Learning Outcomes

The following goals and learning outcomes have been established for students pursuing a degree in Economics:

Understand critical concepts

  • Understand the economic challenge of allocating limited resources among competing uses in a global economy and across different market structures under conditions of limited information
  • Understand the behavior of consumers and producers in product and factor markets and the concept of efficient allocation of resources as a maximizing mechanism
  • Understand the role of government in the economy in the context of business activity, income distribution, economic growth, globalization and market failure

Engage in policy oriented analysis

  • Understand the theory used to analyze economic variables and how they are affected by public policy and other factors
  • Critically evaluate and compare alternative schools of thought and expected policy outcomes
  • Understand the interaction between goods, factors and financial markets

Operate professionally

  • Understand how to access, use and interpret economic data and apply theory to analyze and discuss economic issues and events
  • Understand how to access existing economic literature and analyze economic problems using theoretical, statistical, and quantitative methods

Programs and Courses Offered

Bachelor of Arts in Business Administration

Master of Business Administration


    Bachelor of ArtsMaster of ArtsNon-Degree



      Courses are designated as ECON in the class schedule.

      Return to {$returnto_text} Return to: Mihaylo College of Business and Economics