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Economics BS

Semester Requirements

Michael J. Vernarelli, Department Chairperson
(585) 475-2455, mjvgss@rit.edu

http://www.rit.edu/cla/economics

Program overview

The economics major emphasizes the quantitative analytical approach to dealing with economic problems in both the public and private sectors, providing students with marketable skills and the intellectual foundation for career growth. Graduates are prepared for entry-level managerial and analytical positions in both industry and government and to pursue graduate studies in economics, business, and law.

Curriculum

The economics curriculum develops communication, computational, and management skills in addition to economic reasoning and quantitative abilities. The program's required courses develop student's abilities to apply economic analysis to real-world problems. Liberal arts courses enhance oral and written communication skills. Business courses include accounting and finance. Quantitative analytical skills are developed by a course sequence that includes computer science, mathematics, and statistics. Free electives allow students to pursue advanced study in their individual areas of interest and/or develop a double major. Along with finance, marketing, mathematics, statistics, or computer science, there are many other possibilities. Faculty advisers help students develop professional options that will assist them in attaining their career goals.

Cooperative education

Cooperatuive education is optional. Students who participate in co-op may find positions with financial and brokerage institutions, government offices, and large corporations. Co-op can be completed during any semester, including summer, after the sophomore year. The Office of Cooperative Education and Career Services assist students in identifying and applying to co-op positions.

Economics, BS degree, typical course sequence (semesters), effective fall 2013

Course Sem. Cr. Hrs.
First Year
ECON-100 Foundational Seminar in Economics 1
ECON-101 Principles of Microeconomics 3
MATH-171 LAS Perspective 7A: Calculus A 3
  LAS Foundation 1: First Year Seminar† 3
  LAS Perspective 1, 2, 5 9
STAT-145 Introduction to Statistics I 3
ECON-201 Principles of Macroeconomics 3
MATH-172 LAS Perspectives 7B: Calculus B 3
  LAS Foundation 2: First Year Writing 3
  Wellness Education* 0
Second Year
ECON-401 Intermediate Microeconomic Theory 3
  LAS Perspective 3, 4 6
ECON-404 Mathematical Methods: Economics 3
  Track Courses 6
ECON-403 Econometrics I 3
  Free Elective 3
  LAS Immersion 1 3
  LAS Elective 3
Third Year
ECON-402 Intermediate Macroeconomic Theory (WI) 3
  Track Courses 6
ISTE-140 Web I 3
  LAS Immersion 2, 3 6
  Free Electives 6
  LAS Elective 3
  LAS Perspective 6 3
Fourth Year
Choose one of the following:  
   ECON-405    International Trade and Finance 3
      Track Courses 6
  LAS Elective 12
  Free Electives 6
ECON-407 Industrial Organization 3
Total Semester Credit Hours 121

Please see New General Education Curriculum-Liberal Arts and Sciences (LAS) in the Graduation Requirements section of this bulletin for more information.

(WI) Refers to a writing intensive course within the major.

* Please see Wellness Education Requirement for more information. Students completing bachelor's degrees are required to complete two Wellness courses.
† The First Year Seminar requirement is replaced by an LAS Elective for the 2013-14 academic year.

Capstone experience

Students required to complete a creative capstone experience. Students may publish a paper in a refereed journal, present a paper at a professional conference or at an RIT-sponsored conference, present research at an approved exhibit at Imagine RIT: Innovation and Creativity Festival, or fulfill a comparable creative capstone requirement in the student's primary major (if economics is the secondary major).

Additional information

Double major

Because of the flexibility of the economics curriculum, many students choose to pursue a double major in economics and a secondary field of study. Students are able to graduate in four years.

Accelerated 4+1 MBA option

An accelerated 4+1 option is available for students who wish to earn a BS in economics and an MBA. The option is offered in conjunction with Saunders College of Business and allows students to obtain both degrees in five years of study.

Academic enrichment

Economics faculty members serve as mentors and are available to enhance students' personal and professional growth. Students may work as teaching assistants for professors in economics courses or learn about research techniques as research assistants for faculty. For both of these activities, students receive a stipend. Finally, students can engage in independent or joint research with a faculty member, receiving academic credit and obtaining funding for their research needs.

[arrow] Click to view program requirements in the Quarter Calendar

Quarter Curriculum - For Reference Only

Effective fall 2013, RIT will convert its academic calendar from quarters to semesters. The following content has been made available as reference only. Currently matriculated students who began their academic programs in quarters should consult their academic adviser for guidance and course selection.

Program overview

The economics program emphasizes the quantitative analytical approach to dealing with economic problems in both the public and private sectors, providing students with marketable skills and the intellectual foundation for career growth. Graduates with a BS degree in economics are prepared for entry-level managerial and analytical positions in both industry and government and to pursue graduate studies in economics, business, and law.

Curriculum

The economics curriculum prepares students by developing communication, computer, and management skills in addition to economic reasoning and quantitative abilities. Students in the program are involved in a wide variety of management and analytical positions, both during co-op and after graduation.

The program's required courses are specifically designed to develop student's abilities to apply economic analysis to real-world problems. Liberal arts courses enhance oral and written communication skills. Business courses include accounting and finance. Quantitative analytical skills are developed by a course sequence that includes computer science, mathematics, and statistics. Free electives allow students to pursue advanced study in their individual areas of interest and/or develop a double major. Along with finance, marketing, mathematics, statistics, or computer science, there are many other possibilities. Faculty advisers help students develop professional options that will assist them in attaining their career goals.

Cooperative education

Students in the program who participate in co-op may be placed with financial and brokerage institutions, government offices, and large corporations. Co-op can be completed during any quarter, including summer, after the sophomore year.

Semester conversion
Effective fall 2013, RIT will convert its academic calendar from quarters to semesters. Each program and its associated courses have been sent to the New York State Department of Education for approval of the semester plan. For reference, the following charts illustrate the typical course sequence for this program in both quarters and semesters. Students should consult their academic advisers with questions regarding planning and course selection.

Economics, BS degree, typical course sequence (quarters)

CourseQtr. Cr. Hrs.
First Year
0511-200 Foundational Seminar in Economics 1
0511-211 Principles of Microeconomics 4
0511-402 Principles of Macroeconomics 4
0511-459 Managerial Economics 4
  Calculus Requirement‡ 12
  Computing Elective 4
  Liberal Arts* 16
1720-050, 052 Discovery and Pathways 2
  Wellness Education† 0
Second Year
0511-452 Monetary Analysis and Policy 4
0511-457 Applied Econometrics 4
0511-458 Economic Forecasting 4
1016-319 Data Analysis 4
0101-301 Financial Accounting 4
Choose one of the following: 4
   0101-302    Management Accounting  
   0511-464    Game Theory: Economic Applications  
  Liberal Arts* 8
  General Education Electives 12
  Laboratory Science 8
  Wellness Education† 0
Third Year
0511-453 Intermediate Microeconomic Theory 4
0511-455 Intermediate Macroeconomic Theory 4
0511-460 Mathematical Methods for Economics 4
0104-441 Corporate Finance 4
  Free Electives 8
  Computing Electives 8
  Liberal Arts* 12
Fourth Year
0511-454 International Trade and Finance 4
0511-456 Industrial Organization 4
0511-450 Benefit Cost Analysis 4
  Free Electives 19
  General Education Electives 8
Total Quarter Credit Hours 182

* Please see Liberal Arts General Education Requirements for more information.

† Please see Wellness Education Requirement for more information.

‡ Economics majors are required to take three pre-calculus and calculus courses and complete the equivalent of Calculus B.

Economics, BS degree, typical course sequence (semesters), effective fall 2013

CourseSem. Cr. Hrs.
First Year
ECON-100 Foundational Seminar in Economics 1
ECON-101 LAS Perspective 3: Principles of Microeconomics 3
MATH-171 LAS Perspective 7A: Calculus A 3
  LAS Foundation 1: First-Year Seminar 3
  LAS Perspective 1, 2, 5 9
ECON-201 LAS Perspectives 4: Principles of Macroeconomics 3
MATH-172 LAS Perspectives 7B: Calculus B 3
ENGL-150 LAS Foundation 2: Writing ­Seminar 3
  LAS Elective 3
  Wellness Education* 0
Second Year
ECON-401 Intermediate Microeconomic Theory 3
STAT-145 Introduction to Statistics I 3
  LAS Electives 6
  LAS Perspectives 6 3
  Track Courses 6
ECON-403 Econometrics I 3
  Free Elective 3
  LAS Immersion 1 3
Third Year
ECON-402 Intermediate Macroeconomic Theory (WI) 3
  Track Courses 6
ISTE-140 Web I 3
  LAS Immersion 2, 3 6
  Free Electives 9
ECON-404 Mathematical Methods: Economics 3
Fourth Year
Choose one of the following: 3
   ECON-405    International Trade and Finance  
   ECON-406    Global Economic Issues  
  Track Courses 6
  LAS Electives 9
  Free Electives 9
ECON-407 Industrial Organization 3
Total Semester Credit Hours 121

Please see New General Education Curriculum-Liberal Arts and Sciences (LAS) in the Graduation Requirements section of this bulletin for more information.

(WI) Refers to a writing intensive course within the major.

* Please see Wellness Education Requirement for more information.

Capstone experience

All economics majors are required to complete a creative, capstone experience. Students may publish a paper in a refereed journal, present a paper at a professional conference, present a paper at an RIT-sponsored conference, present research at an approved exhibit at Imagine RIT: Innovation and Creativity Festival, or fulfill a comparable creative capstone requirement in the student's primary major (if economics is the secondary major).

Additional information

Double major

Because of the flexibility of the economics curriculum, many students choose to pursue a double major in economics and a secondary field of study. Students are able to graduate in four years.

Accelerated 4+1 option

An accelerated 4+1 option is available for students who wish to earn a BS in economics and an MBA. The program is offered in conjunction with the E. Philip Saunders College of Business and allows students to obtain both degrees in five years of study.

Academic enrichment

Economics faculty members serve as mentors and are available to enhance students' personal and professional growth. Students may work as teaching assistants for professors in Principles of Economics courses or learn about research techniques as research assistants for the faculty. For both of these activities, students receive a stipend. Finally, students can engage in independent research or joint research with a faculty member, receiving academic credit and obtaining funding for their research needs.