Michael J. Vernarelli, Department Chairperson
(585) 475-2455, mjvgss@rit.edu
http://www.rit.edu/cla/economics
Program overview
The BS in economics 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 positions in management and quantitative analysis or to pursue graduate study in economics, business, or 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 the ability to apply economic analysis to real-world problems. Liberal arts courses enhance the student's 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.
Economics, BS degree, typical course sequence (quarters)
| Course | Qtr. 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 | |
| Computer Science/Information Technology/ Management Information Systems 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 | |
| Computer Science/Information Technology/ Management Information Systems 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
| Course | Sem. Cr. Hrs. | |
|---|---|---|
| First Year | ||
| ECON-100 | Foundational Seminar in Economics | 1 |
| ECON-101 | LAS Perspectives 3: Principles of Microeconomics | 3 |
| MATH-171 | LAS Perspectives 7A: Calculus A | 3 |
| First Year Seminar | 3 | |
| LAS Perspectives 1 | 3 | |
| LAS Perspectives 2 | 3 | |
| ECON-201 | LAS Perspectives 4: Principles of Macroeconomics | 3 |
| MATH-172 | LAS Perspectives 7B: Calculus B | 3 |
| First Year Writing | 3 | |
| LAS Elective | 3 | |
| LAS Perspectives 5 (Lab Science) | 3 | |
| Second Year | ||
| ECON-401 | Intermediate Microeconomic Theory | 3 |
| STAT-145 | LAS Elective: Introduction to Statistics I | 3 |
| LAS Elective | 3 | |
| LAS Perspectives 6 | 3 | |
| Track Course 1 | 3 | |
| ECON-403 | Econometrics I | 3 |
| Track Course 2 | 3 | |
| LAS Elective | 3 | |
| Free Elective 1 | 3 | |
| LAS Immersion 1 | 3 | |
| Third Year | ||
| ECON-402 | Intermediate Macroeconomic Theory (WI) | 3 |
| Track Course 3 | 3 | |
| ISTE-140 Web I | 3 | |
| LAS Immersion 2 | 3 | |
| Free Elective 2 | 3 | |
| ECON-404 | Mathematical Methods: Economics | 3 |
| Track Course 4 | 3 | |
| LAS Immersion 3 | 3 | |
| Free Elective 3 | 3 | |
| Free Elective 4 | 3 | |
| Fourth Year | ||
| Choose one of the following: | 3 | |
| ECON-405 | International Trade and Finance | |
| ECON-406 | Global Economic Issues | |
| Track Course 5 | 3 | |
| LAS Elective | 3 | |
| Free Elective 5 | 3 | |
| Free Elective 6 | 3 | |
| ECON-407 | Industrial Organization | 3 |
| Track Course 6 | 3 | |
| LAS Elective | 3 | |
| Free Elective 7 | 3 | |
| LAS Elective | 3 | |
| Total Semester Credit Hours | 121 | |
Capstone experience
All economics majors are required to complete a creative, capstone experience which may be fulfilled in one of the following ways. 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 ImagineRIT, or fulfill a comparable creative capstone requirement in the student's primary major is economics if the secondary major.
Additional information
Double major in economics
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 dual degree options
In cooperation with the E. Philip Saunders College of Business, students may choose to pursue an accelerated BS/MBA option that permits qualified students to obtain a BS degree in four years and an MBA degree after one additional year of study. In cooperation with the public policy program, qualified students obtain a BS degree in economics and the MS degree in science, technology, and public policy in approximately five years of study. Students are encouraged to speak with an adviser to discuss courses and planning for this option.
Academic enrichment
Economics faculty members serve as mentors and are available to enhance students' personal and professional growth. There are many special opportunities for students in the economics program. They 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, receiving academic credit and obtaining funding for their research needs.