Economics

Chair: Mark P. Zaporowski, PhD

Introduction

Economics B.A. Program

The Economics Department provides courses designed to help all Canisius students understand the national and global economy. The major in the College of Arts and Sciences provides preparation for entry-level and advanced positions in a variety of career choices through its broad based study of economic activity. Potential career choices include sales, marketing, production, finance and banking, and at various levels of government such as municipalities, local development authorities, the Federal Reserve, the Department of Labor and the Department of Commerce. All of these employers value the critical thinking and analysis skills fostered in an economics curriculum.

The Economics program has also proven to be an excellent preparation for graduate schools. Some students choose to continue the study of economics in PhD and master’s programs. Other students use the strong analytical foundations of their economics training to pursue advanced degrees in business, health, public administration or law. For a more detailed description of the program including policies, faculty, facilities, academic and co-curricular opportunities please view the Economics program 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

Mathematics Requirement 14-6
Mathematics Requirement - Option 1: Two Course Sequence
Finite Mathematics
Calculus for the Non-Sciences
Mathematics Requirement - Option 2 - One of the following advanced courses:
Calculus with Review I
Calculus I
Calculus for Business
Economics Courses
ECO 101Principles of Macroeconomics3
ECO 102Principles of Microeconomics3
ECO 205Intermediate Microeconomic Analysis3
ECO 206Intermediate Macroeconomic Analysis3
ECO 255Business Statistics I3
ECO 256Business Statistics II3
Economics Electives
Five courses at the 300 or 400 level15
Total Credits37-39
1

MAT 115 is recommended over options, although students who are not well prepared in mathematics may wish to take MAT 105 and MAT 106 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 should consult with a departmental adviser if they have questions about the most appropriate way to satisfy the mathematics requirement.

Major Electives

Up to 2 of the following courses (with a minimum grade of C- in each) may be substituted for ECO elective credit: MAT 112, MAT 211, MAT 219, MAT 222. All Finance courses serve as Economics electives. ECO 455 and additional Mathematics and Accounting courses are strongly recommended for graduate school and the business world.

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

Economics majors may also obtain a concentration in Finance by using Economics electives to take the following courses:

FIN 201Introduction to Finance3
FIN 311Corporate Finance3
FIN 312Investments3
FIN 414Portfolio Analysis3
Any FIN elective at the 300 or 400 level

This specialization is appropriate for students who wish to make a career in banking or finance.

Recommended Semester Schedule for Major Course Requirements

Freshman
FallSpring
FYS 101ENG 101
ECO 101ECO 102
Select one of the following math courses:PHI 101
MAT 105, MAT 109, MAT 111 or MAT 115MAT 106 (or Free Elective if MAT109, MAT 111 or MAT 115 was taken in the fall.)
RST 101Free Elective
Free Elective 
Sophomore
FallSpring
ECO 205ECO 206
ECO 255ECO 256
Field of Knowledge 4ECO Elective
Free ElectiveFree Elective
Free ElectiveFree Elective
Junior
FallSpring
ECO ElectiveECO Elective
Field of Knowledge 1Field of Knowledge 2
Field of Knowledge 3Free Elective
Field of Knowledge 6Free Elective
Free ElectiveFree Elective
Senior
FallSpring
ECO ElectiveECO Elective
Core CapstoneFree Elective
Free ElectiveFree Elective
Free ElectiveFree 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.