Economics (B.A.)

Program Overview

This major fosters an appreciation of the importance of personal economic life as well as an understanding of the U.S. economic system and the global context within which it operates. The B.S. in Economics is intended for the student who wants to major in economics but also receive a broad background in business. The B.A. in Economics is designed for the student who wants to focus on economics, but do so within a liberal arts curriculum. Both majors offer broad preparation for any career choice while also providing a solid foundation for graduate studies in economics, law or business.

Program Learning Outcomes

Graduates from Messiah’s Economics program can:

  1. Demonstrate a mastery of knowledge in market capitalism and how it compares to other economic systems. (UCLO 2)
  2. Use quantitative analysis in business decision-making. (ULO 3)
  3. Recall, recognize, and interpret foundational content related to ACBSP accreditation Common Professional Component—disciplinary areas in which all business majors need to be proficient regardless of their major including Marketing, Finance, Accounting, Management, Law, Economics, Ethics, Information Systems, Global, Quantitative and Integrative (ULO 2)
  4. Apply business concepts, strategies and tactics (ULO 2)
  5. Conduct methodological secondary research into business issues. (ULO 3)
  6. Articulate how the Christian faith informs one’s work life, career, and daily business practices (ULO 4, ULO 5, ULO 6)

Major Requirements

Complete the following for your major:

Financial Accounting

ACCT 141 / 3 Credits

Accounting procedures, use of special journals, general and subsidiary ledgers, preparation of financial statements, and contents of accounts and external reporting concepts.

Strategic Use of Information Technology

CIS 190 / 3 Credits

This course introduces students to the strategic, tactical and operational aspects of information technology (IT) as it relates to business. It surveys a broad range of topics, challenging students to understand the strategic relevance of IT to every aspect of business including, but not limited to quality, innovation, globalization, competitive advantage, collaboration, and outsourcing. The course also examines representative best practices of common IT business tools, including MS-Excel, Access, Word, and PowerPoint, as well as collaboration tools.

Principles of Macroeconomics

ECON 120 / 3 Credits

A study of the fundamentals of economic analysis and basic economic institutions, with an emphasis upon understanding the impact of individual and social choices upon aggregate output, employment, inflation, relative income distribution and the environment. Monetary, fiscal and social welfare policies are evaluated in light of historical and current experience, with an attempt to understand the role of changing institutional structures, social values, and concerns for justice in an increasingly globally integrated world.

Principles of Microeconomics

ECON 220 / 3 Credits

A study of the fundamentals of individual market behavior, emphasizing the use of demand and supply analysis. The focus is upon understanding the implications of actions taken by individual decision-makers, operating within various market structures, upon the allocation and use of resources, distribution of income, and ability of markets to meet the needs and desires of individuals. Special attention is given to understanding the impact of market outcomes upon social and individual justice, and upon the environment.

Intermediate Macroeconomics

ECON 301 / 3 Credits

Examines the development of various macroeconomic models as tools for analyzing factors which influence the level of national income, output, inflation, employment, etc. Explains the usefulness and limitations of these models in determining appropriate fiscal, monetary and international trade policies.

Intermediate Microeconomics

ECON 302 / 3 Credits

This course studies individual market behavior and applies microeconomic concepts to decision-making processes of business. Primary focus is on demand, cost, production, market structure, and pricing policies.

Comparative Political Economy

ECON 303 / 3 Credits

This course surveys the historical development of economic analysis and current economic schools of thought in a philosophical, social, political, and cultural context. Among the various schools of thought examined are 'Classical' and 'Modern Liberalism,' Marxian, Keynesian, and 'New' Classical/Supply-Side Analysis. An emphasis is placed upon examining and critiquing the underlying methodological and philosophical principles of each school of thought, and exploring the implicit and explicit links between economics and politics.

ECON 303: Writing in the major requirement.

Four of the following (12 credits total):

Issues in Environmental Economics

ECON 117 / 3 Credits

Introduction to the nature and application of the methods of economic analysis to the problems and issues associated with the environment. Deals with case studies and policy options relevant to local, national, and international environmental concerns.

Money and Financial Markets

ECON 307 / 3 Credits

The role of finance in the economy and the nature of money and other financial assets. Emphasizes the role of principal financial markets and their relationship to the economy through study of fund flows, monetary theory, and policy.

Money and Financial Markets

FINA 307 / 3 Credits

The role of finance in the economy and the nature of money and other financial assets. Emphasizes the role of principal financial markets and their relationship to the economy through study of fund flows, monetary theory, and policy.

Economic Development II

ECON 312 / 3 Credits

Examination of the process of economic development with reference to developing countries. Considers a variety of case studies and viewpoints.

The Economics of Wages and Employment

ECON 315 / 3 Credits

The economics of labor markets, labor unions, and collective bargaining. Topics include labor force participation, labor mobility, employment and unemployment, wage rate determination (education, training, labor market discrimination, and collective bargaining strategies), and public policies affecting income distribution. Both orthodox and heterodox frameworks of analysis are considered, with attention placed on questions of justice and equity.

International Business and World Economy

IBUS 375 / 3 Credits

Introduction to international economic relations with emphasis on both private and public sectors. Topics include theories of trade, protectionism, balance of payments and the international monetary order, economic integration, the developing world, and global corporations. Focuses on current trends, policies, and institutions.

Three or four credits from the following:

Intuitive Calculus with Applications

MATH 108 / 3 Credits

A one-semester survey of the basic topics of the calculus of functions of one variable, demonstrating their applications in a wide variety of fields. Recommended for students who will take only one semester of calculus.

Calculus I

MATH 111 / 4 Credits

Introduction to differential and integral calculus with associated analytic geometry. Note that all MATH 111 registrations have a concurrent MATH 103 registration until the proficiency exam is taken.

Three credits from the following:

Introductory Statistics

STAT 269 / 3 Credits

Descriptive measures, normal distributions, one-sample and two-sample hypothesis testing and estimation, correlation, and analysis of variance.

Applied Statistics for Management

STAT 281 / 3 Credits

Topics in probability and statistics: descriptive numerical and graphical measures, discrete and continuous probability distributions, and one-sample estimation and hypothesis testing.

Probability and Statistics

STAT 291 / 3 Credits

Topics in probability and statistics: descriptive methods, conditional and unconditional probability, discrete and continuous distributions, one-sample estimation and hypothesis testing.

QuEST Requirements

Experiential Learning requirement 0
QuEST requirements Credits
First Year Seminar3
Oral Communication3
Created and Called for Community (W)3
Mathematical Sciences (MATH 108 or MATH 111 )met/major
Laboratory Science3 or 4
Science, Technology & the World 3
Social Science (ECON 120)met/major
European History or United States History 3
Literature3
Philosophy and Religion3
Arts3
First Semester of Language3
Second Semester of Language3
Third Semester of Language or Cross Cultural3
Non-Western Studies 2-3
Bible3
Christian Beliefs3
Wellness course1
Ethics, World Views or Pluralism3
QuEST requirements48-50
Major requirements39-40
Free electives36-33
Total credits 123