Economics Programs

There are three different ways that students can pursue degree in Economics at Canisius.  Students can earn a Bachelor of Arts degree in Economics by completing a set of required Economics courses.  Students who wish to pursue careers in business should consider earning a Bachelor of Science degree in Economics which combines required Economics courses with a collection of courses called The Business Core Curriculum.  The Business Core Curriculum is designed to provide students with a broad understanding of other areas of business, preparing them to take leadership roles in the organizations they work for.  Finally, students earning degrees in other disciplines can get exposure to the field of Economics by earning a Minor degree.  You can explore the details associated with each of these degree options by clicking the tabs at the top of this page.  For additional information about the Economics program, please visit the Economics Program webpage.

QUALIFICATIONS

Students must maintain a 2.0 GPA in their major and a 2.0 overall average to graduate with a major degree in Economics. All students must complete a minimum of 120 credit hours to graduate.

Advisement

All students should have an advisor in the major and should contact the department directly to have an advisor assigned if they do not already have one.  Major advisors are normally assigned in the sophomore year, but may be requested in the freshman year to supplement a student's freshman advisor (their GRIF 101 facilitator). Meetings with academic advisors are required prior to students receiving their PIN for course registration each semester. All majors should work closely with their advisor in discussing career expectations, choosing their major electives, developing their entire academic program and planning their co-curricular or supplemental academic experiences.

Minors

Minors provide students the opportunity to pursue additional interests but generally do not require as many courses as a major.  Minors generally range from five to eight required courses. The minors page provides a complete list of minors and provides links to each minor. Some majors and minors can be completed within the minimum 120 credit hour degree requirement, but in some cases additional coursework may be required. Students must complete the appropriate minor request form.

Dual Majors

Students who wish to expand their educational opportunities may decide to declare a dual major. The decision may be based on career goals or planned graduate studies. Before a student declares a dual major, it is important to meet with the appropriate academic departments for advisement. Some dual major combinations can be completed within the minimum 120 credit hour degree requirement, but in some cases additional course work may be required. In order to declare a dual major, the student must complete the appropriate dual major request form and get the signature of each department chairperson and the appropriate associate dean.

A dual major in Economics and Mathematics & Statistics is strongly recommended for the student who is interested in graduate school in either finance or economics. Up to two mathematics courses beyond MAT 111 may be used as economics electives. 

Dual majors in Economics (BS) and Finance are required to take six electives in total. Two must be Economics electives and four must be Finance electives.

MAJOR EXPERIENCES

The department encourages internship experiences as part of the major and accepts one internship on a pass/fail basis as an Economics elective. Many of our majors have participated in the All-College Honors program and have written honors theses on topics in Economics and Finance.

ADDITIONAL COURSE CONSIDERATIONS

ECO 455 and additional Mathematics courses are strongly recommended for students wishing to obtain graduate degrees in Economics and Finance.

Students who wish to expand their educational opportunities may decide to declare a minor in addition to their major. The decision may be based on career goals or planned graduate studies. Minors generally range from six to eight required courses. A listing of the minors can be found under the Academic Curricula section of the catalog. Some majors and minors can be completed within the minimum 120 credit hour degree requirement, but in some cases additional course work may be required. Students must complete the appropriate minor request form.

Economics Minor

Required Courses
ECO 101Principles of Macroeconomics3
ECO 102Principles of Microeconomics3
ECO 255Business Statistics I3
Economics Electives
Four courses at the 200, 300, or 400 level one of which must be ECO 205 or ECO 20612
Total Credits21

ECO 101 Principles of Macroeconomics 3 Credits

Explanation of market system through supply and demand analysis. Measurement of macroeconomic variables and development of economic models to analyze problems of unemployment, inflation and economic growth. Various fiscal and monetary policies will be discussed.

Fulfills College Core: Field 5 (Social Sciences)

ECO 102 Principles of Microeconomics 3 Credits

Explanation of how the market system operates in the context of limited resources. Emphasis on the manner in which consumers and firms determine what to produce, how to produce and for whom to produce.

Fulfills College Core: Field 5 (Social Sciences)

ECO 205 Intermediate Microeconomic Analysis 3 Credits

Analysis of demand and supply under various market structures. Cost and production theory, factor pricing, and welfare economics.

Prerequisite: ECO 101 & ECO 102.

ECO 206 Intermediate Macroeconomic Analysis 3 Credits

The determination of national income and product in the short run and long run. Unemployment, inflation, fiscal and monetary policy will be examined in the context of static and dynamic macroeconomic models.

Prerequisite: ECO 101 & ECO 102.

ECO 255 Business Statistics I 3 Credits

Fundamental concepts of probability and statistics with emphasis on business and economic applications. Organizing and describing data, probability theory, sampling, estimation and hypothesis testing.

ECO 256 Business Statistics II 3 Credits

Hypothesis testing, regression analysis, goodness of fit, contingency tables, analysis of variance, time series analysis and forecasting.

Prerequisite: ECO 255.

ECO 310 Introduction to Geographic Information Systems 3 Credits

An applied introduction to Geographic Information Systems (GIS), a mapping and spatial analysis tool that is widely used in education, government, and industry to solve spatial problems. This course combines lectures and hands-on exercises and provides students the opportunity to use ArcGIS software.

Prerequisite: ECO 101 & ECO 102, or permission of the instructor.

ECO 311 Metropolitan Economic Development and GIS 3 Credits

Economic development is an essential component of local policy and governing, and a perceived driver of success and vitality for cities, metropolitan areas and regions. This applied course will introduce students to basic economic development theory and commonly used economic performance measures within a Geographic Information Systems (GIS) environment.

Prerequisite: ECO 101 & ECO 102.

ECO 320 Environmental Economics 3 Credits

How economic analysis can be applied to promote the efficient and equitable use of natural resources, such as land, air, soil, fauna and flora. Emphasis on how the principles of economic analysis can be applied to design policies that reduce or eliminate harmful environmental impacts such as pollution and environmental degradation and improve human welfare through natural resource management. Examines how best to strike a balance between economic activity and environmental quality.

Prerequisite: ECO 101 & ECO 102.

ECO 321 Economic Impact Analysis 3 Credits

Estimation of the impact of investment, public spending, and changes in taxation or regulatory policy on a regional economy. The impact of a new project on sales, income and employment will be projected. Case studies and hands-on experience using multiple software packages will be used to conduct analysis.

Prerequisite: ECO 101, ECO 102 & ECO 255.

ECO 330 Money, Banking and the Economy 3 Credits

The connection between financial markets, the economy and the Federal Reserve. Examination of the nature of financial markets, the determination of interest rates, bank management and regulation, money and monetary policy. Emphasis on the impact of monetary policy on the macro economy. This course also serves as a Finance elective.

Prerequisite: ECO 101 & ECO 102.

ECO 411 State and Local Finance 3 Credits

Municipal credit risk and municipal bonds analysis of revenue sources for state and local governments. Public/ private sector interaction in urban areas, city-suburban fiscal disparity and competition, state/local government structure, inter-governmental relations. This course also serves as a Finance elective.

Prerequisite: ECO 101, ECO 102, & ECO 256 (or equivalent).

ECO 455 Econometrics 3 Credits

Estimation and analysis of linear and non-linear regression models using statistical inference. Topics include multicolinearity, heteroskedastic and serially correlated errors, forecasting, dummy variables and simultaneous equations models. Emphasis on analysis of data using EViews statistical software.

Prerequisite: ECO 205, ECO 206, & ECO 256 (or equivalent).

ECO 460 International Trade 3 Credits

Theory and practice of international trade, why countries trade, what explains the patterns of trade, and what are the effects of trade on a country's welfare and income distribution. Analysis of international trade policies and their implications.

Prerequisite: ECO 101 & ECO 102.

Fulfills College Core: Global Awareness

ECO 497 Internship 3 Credits

Student must complete a WSB Internship Application Form. May be used for Economics elective credit. Pass/Fail only.

Prerequisite: student must complete a WSB Internship Application and obtain the approval of a faculty supervisor, department chair, & associate dean.

ECO 499 Independent Research 3 Credits

Students must work with a faculty mentor to develop their learning goals and complete a Wehle School of Business Independent Study Application Form.

Prerequisite: student must complete a WSB Independent Study Application Form and obtain the approval of a faculty supervisor, department chair, & the associate dean.