Business Economics

Chair: Mark P. Zaporowski, PhD

Introduction

Economics BS Program – Business Economics

The objective of the Economics curriculum is to provide students with an understanding of the economic environment in which they will participate as professionals. The major in Economics requires a sequence of economics courses from which the student is expected to obtain an understanding of the economic environment and the ability to develop solutions to economic problems that exist in society. In addition, Business Economics majors in the Richard J. Wehle School of Business take a set of courses called the Business Core Curriculum.  The Business Core is designed to provide students with a breadth of important business skills and knowledge that will allow them to grow and become leaders in their organizations.

Many economics graduates find rewarding and challenging employment in government and industry positions where their specialized training is put to the test and found valuable. Other students choose to deepen their knowledge of economics by attending graduate school. Still others find professional studies in business, law and health sciences more rewarding because of their economics training.  For further information about this program, please consult the Economics webpage.

General Education Requirements

All undergraduate students must complete either the Canisius Core Curriculum or the All-College Honors Curriculum.

Free Electives

Free electives are courses in addition to the Core Curriculum or Honors Curriculum and major requirements sufficient to reach the minimum of 120 credit hours required for graduation. Students may graduate with more but not less than 120 credit hours.

Major Requirements

Business Core
Required courses for all business majors 149-51
Economics Major Requirements
ECO 205Intermediate Microeconomic Analysis3
ECO 206Intermediate Macroeconomic Analysis3
Economics Electives
Four courses at the 300 or 400 level12
Total Credits67-69
1

To satisfy the Business Core mathematics requirement, MAT 115 is recommended over options for Business Economics majors.  However, students who are not well prepared in mathematics may wish to take MAT105 and MAT106 before moving on to more advanced math courses.  Additional mathematics courses are recommended if the student is preparing for a graduate program in economics or finance. Students are strongly encouraged to consult with a department adviser if they have questions about the best way to satisfy the Business Core mathematics requirement.

Major Electives

Up to 2 of the following courses (with a minimum grade of C- in each) may be substituted for Economics elective credit:

MAT 112Calculus II4
MAT 211Calculus III4
MAT 219Linear Algebra4
MAT 222Differential Equations3
Accounting courses beyond ACC 202
All 300 and 400 level Finance courses serve as Economics electives

Recommended Semester Schedule for Major Course Requirements

Freshman
FallSpring
FYS 101ENG 101
ECO 101ECO 102
Select one of the following:MAT 106 (or Free Elective if MAT 109, MAT 111 or MAT 115 is taken in the fall.)
MAT 105 or MAT 109, MAT 111, or MAT 115PHI 101
RST 101Business International Requirement II
Business International Requirement IGRIF 101
GRIF 101 
Sophomore
FallSpring
ACC 201ACC 202
ECO 205ECO 206
ECO 255ECO 256
ISB 101FIN 201
Field of Knowledge 4MGT 101
Junior
FallSpring
ECO ElectiveECO Elective
MKT 201MGT 325
Field of Knowledge 1MGT 370
Field of Knowledge 3Field of Knowledge 2 (Ethics)
Field of Knowledge 6A&S Elective
Senior
FallSpring
ECO ElectiveECO Elective
Core CapstoneMGT 446
A&S ElectiveA&S Elective
Free ElectiveA&S Elective
Free ElectiveFree Elective

LEARNING GOALS AND OBJECTIVES

STUDENT LEARNING GOAL 1

ECONOMICS MAJORS WILL SOLVE PROBLEMS WITHIN AN ECONOMIC FRAMEWORK.

Students will be able to: 
  • Objective A: Analyze economic problems.
  • Objective B: Conceptually evaluate the economic consequences of potential solutions to economic problems 

Student Learning Goal 2 

STUDENTS WILL BE ABLE TO THINK CRITICALLY USING VARIOUS ECONOMIC FRAMEWORKS.

Students will be able to: 
  • Objective A: Critically assess economic arguments.
  • Objective B: Apply analytic tools in evaluation of economic outcomes.

Student Learning Goal 3

STUDENTS WILL UNDERSTAND MACROECONOMIC FRAMEWORKS.

Students will be able to: 
  • Objective A: Display an understanding of the determinants of macroeconomic equilibrium.
  • Objective B: Analyze the impact of exogenous or policy related shocks on macroeconomic equilibrium. 

Student Learning Goal 4

STUDENTS WILL UNDERSTAND MICROECONOMIC FRAMEWORKS.

Students will be able to:  
  • Objective A: Display an understanding of the determinants of the consumer behavior model in the context of consumer demand.
  • Objective B: Display an understanding of the theory of the firm in perfectly and imperfectly competitive markets.