Economics

Office: 2074 Faculty/Administration Building; 313-577-3345
Chairperson: Stephen Spurr
Administrative Assistant: Delores G. Tennille
Academic Advisor: Katie Curtis
Website: http://www.clas.wayne.edu/Economics/


‘AGRADE' Program (Accelerated Graduate Enrollment)

Degree Programs

Economics (B.A. Program)

Economics Courses (ECO)

Economics Honors (B.A. Program)

Economics Minor


Professors

Ralph M. Braid, Allen C. Goodman, Li Way Lee, Robert J. Rossana, Stephen J. Spurr, Gail Jensen Summers

Associate Professors

Michael H. Belzer, Kevin D. Cotter, Tatsuma Wada

Assistant Professors

Shooshan Danagoulian, Liang Hu, Yong-Gook Jung, Xu Lin, Jennifer Ward-Batts, Young-Ro Yoon

Adjunct Lecturer

David J. Strauss

Degree Programs

BACHELOR OF ARTS with a major in economics

MASTER OF ARTS with a major in economics

DOCTOR OF PHILOSOPHY with a major in economics

Economics is the study of how individuals and societies allocate lim­ited resources to try to satisfy unlimited wants; it is therefore a study of choices. Households and business firms must decide what and how much to consume or produce and how much labor, land and capital to supply. Governments make decisions affecting inflation and unemployment, taxation and expenditures, the monetary system and international trade. Together these public and private choices deter­mine the nation's prosperity and shape the distribution of its wealth. Since every social relationship has economic aspects, an under­standing of economic principles and systems is an integral part of a liberal education.

Economics majors have a wide choice of careers. Many supplement their major with cognate courses to prepare for careers in business, journalism, health care administration or public service. Others find it excellent preparation for law school. Ph.D. graduates in economics are in demand at universities, corporations, financial institutions and government agencies. M.A. graduates may teach at junior colleges but more typically go into business or public service.

Economics (B.A. Program)

Admission requirements for the College are satisfied by the gen­eral requirements for undergraduate admission to the University; see Admission Guidelines, Freshmen, as well as the instructions for declaring a major (Declaration of Major). The Economics Department assumes that students taking economics courses have had at least two years of high school-level algebra and one year of geometry.

DEGREE REQUIREMENTS

Candidates must complete 120 credits in course work including satis­faction of the University General Education Requirements (see Gen­eral Education Program) and the College of Liberal Arts and Sciences Group Requirements (see College Requirements), as well as the departmental major requirements cited below. All course work must be completed in accordance with the academic procedures of the University and the College governing undergraduate scholarship and degrees; see Bachelor's Degree Requirements, Academic Reg­ulations, and Bachelor's Degree Requirements: Liberal Arts and Sci­ences.

Major Requirements: Students considering an economics major should take ECO 2010 and 2020 (Principles of Microeconomics and Macroeconomics) as soon as possible. They should also pass MAT 1500 or 1800 prior to the junior year or demonstrate eligibility for MAT 2010 in the Mathematics Placement Examination.

A major consists of at least thirty-two credits in economics courses including ECO 2010 and 2020, plus twenty-four credits in economics at the 5000 level or above. These must include ECO 5000 and 5050 (Intermediate Microeconomics and Macroeconomics) and ECO 5100 (Introductory Statistics and Econometrics). The Department recom­mends that majors complete all of these courses by the end of their junior year. At least sixteen credits in economics must be earned at Wayne State University.

Majors must elect at least three courses in two or more of economics fields C to H (see below). Each student should choose the econom­ics electives best suited to his/her intellectual and professional aims.

To satisfy the General Education Major Competency Requirement, Economics majors must have a cumulative grade point average of 2.0 in their economics courses.

Minimal Grade Requirements: The following courses must be passed with a grade of C or better in order to be applicable as eco­nomics major credit: MAT 1500, 1800; ECO 2010, 2020, 5000, 5050, and 5100. A grade of C-minus or better must be achieved for the three field course electives.

Writing Proficiency/Writing Intensive Requirement: To enable the Department to evaluate their writing proficiency, economics majors must register for ECO 5993, the zero-credit WI course. All economics majors must satisfy this requirement, even if they are not subject to the University General Education Requirements.

Combined Curriculum for Teaching Certificate

Economics majors wishing to enter secondary teaching should see Teaching, Secondary, Combined Curriculum for the procedures for combining a degree in Liberal Arts with a teaching certificate. Stu­dents must complete the Economics major requirements as part of their program of study.

Economics Honors (B.A. Program)

Economics majors with strong academic records and an interest in research are urged to apply to the Departmental undergraduate advi­sor for admission to the Honors Program. Applicants should have overall grade point averages of 3.3 or above.

In addition to the Bachelor of Arts requirements cited above, honors majors must take Economics 4997 (Senior Honors Research) during each of their last two semesters before graduation and therefore completing forty credits in economics courses. In this seminar they will conduct research under the close supervision of an Economics faculty member. The results of this research are written as an honors thesis, the length of which depends on the nature of the research project.

Honors majors also must elect at least one 4200-level seminar offered by the Honors College. (For information about honors-desig­nated coursework available each semester, including the required 4000-level Honors Program seminar, visit the Honors College web­site link at: http://www.honors.wayne.edu/classes.php.) Finally, the student must accumulate at least fifteen credits in honors-designated course work, including Economics 4997 and the Honors College Seminar. These honors credits need not all be in the Economics Department. Those who successfully complete these requirements and finish their undergraduate course work with an overall grade point average of 3.3 or above will graduate with the degree designa­tion 'With Honors in Economics'.

Economics Minor

A minor in economics requires completion of MAT 1500 or 1800 plus twenty credits of economics courses including ECO 2010 and ECO 2020. The additional twelve credits must be earned in ECO courses at the 5000-level or above. MAT 1500 or 1800; ECO 2010, 2020 and (if included in the minor) ECO 5000, 5050, and 5100 must be passed with a grade of C or better. The twenty credits must have a cumula­tive grade point average of 2.0 or better.

‘AGRADE' Program (Accelerated Graduate Enrollment)

Accelerated Graduate Enrollment: The Economics Department actively participates in the ‘AGRADE' Program, which enables quali­fied seniors in the College of Liberal Arts and Sciences to enroll simultaneously in the undergraduate and graduate programs of the College, and to apply a maximum of fifteen credits toward both an undergraduate and graduate degree in economics. Students inter­ested in ‘AGRADE' should contact the Director of Undergraduate Studies: 313-577-3345.