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Economics

  • Bachelor of Arts
  • Bachelor of Science
  • Minor

The Economics Program

The major in Economics is designed to provide a comprehensive education in both theoretical and applied economics. The Economics program seeks to provide a strong academic foundation for understanding the complexities of economic activity and decision making within both the private and public sectors and for understanding the relationship between the economy and society as a whole. Students will be able to apply rigorous analysis to economic issues and problems through the use of market-oriented theoretical models, quantitative techniques and economic reasoning.

Undergraduate Programs

What Can I Do With a Degree in Economics?

McKenna economic majors pursue jobs in banking and finance, insurance, consulting and research, to name a few. Others go on to earn graduate and/or law school degrees. Our graduates are known for their quantitative skills and regularly place into the top 20 U.S. Ph.D. economics programs.

Curriculum Requirements

  • Requirements for a Bachelor of Arts in Economics

    All economics majors (Economics B.A., Economics B.S. and Business Economics B.S.) must take the College Core Curriculum.

    College Core (48 credits)
    TH 119 First Theology (freshman year) - 3 credits
    Theology (200 Level) - 3 credits
    Theology (300 Level) - 3 credits
    History (100 Level) - 3 credits
    History (200 Level) - 3 credits
    PL 101 1st Philosophy - 3 credits
    Philosophy Elective (PL 215 Ethics suggested) - 3 credits
    Natural Science 100 Level with lab - 4 credits
    Natural Science 200 Level with lab - 4 credits
    EL 102 Language and Rhetoric (freshman year) - 3 credits
    English Elective (Literature Course) - 3 credits
    English Elective - 3 credits
    Fine Arts (100 Level) - 3 credits
    Foreign Language Intermediate Level - 3 credits
    Foreign Language Intermediate Level - 3 credits
    First-Year Seminar (additional hour) - 1 credit

    Economics Major Requirements - B.A. (44 credits)
    BA 350 Statistics I and BA 350A Excel Lab (sophomore year) - 4 credits
    EC 101* Principles of Microeconomics (freshman year) - 3 credits
    EC 102* Principles of Macroeconomics (freshman year) - 3 credits
    EC 201 Microeconomic Theory (sophomore year) - 3 credits
    EC 202 Macroeconomic Theory (sophomore year) - 3 credits
    EC 310 Labor Theory - 3 credits
    EC 351 International Trade and Development - 3 credits
    EC/BA 353 International Finance - 3 credits
    EC 360 Econometrics (sophomore year) - 3 credits
    EC 380 Game Theory - 3 credits
    EC 390 Experimental Economics - 3 credits
    EC 480 Senior Thesis - 3 credits
    MA 109/111* Calculus I - 4 credits
    PS 100* Principles of American Politics - 3 credits

    * Satisfies the core curriculum requirement for social sciences and mathematics.

     

  • Requirements for a Bachelor of Science in Economics

    All economics majors (Economics B.A., Economics B.S. and Business Economics B.S.) must take the College Core Curriculum.

    College Core (48 credits)
    TH 119 First Theology (freshman year) - 3 credits
    Theology (200 Level) - 3 credits
    Theology (300 Level) - 3 credits
    History (100 Level) - 3 credits
    History (200 Level) - 3 credits
    PL 101 1st Philosophy - 3 credits
    Philosophy Elective (PL 215 Ethics suggested) - 3 credits
    Natural Science 100 Level with lab - 4 credits
    Natural Science 200 Level with lab - 4 credits
    EL 102 Language and Rhetoric (freshman year) - 3 credits
    English Elective (Literature Course) - 3 credits
    English Elective - 3 credits
    Fine Arts (100 Level) - 3 credits
    Foreign Language Intermediate Level - 3 credits
    Foreign Language Intermediate Level - 3 credits
    First-Year Seminar (additional hour) - 1 credit

    Economics Major Requirements - B.S. (53 Credits)
    BA 350 Statistics I and BA 350A Excel Lab - 4 credits
        or MA 208 Probability and Statistics - 3 credits
    EC 101* Principles of Microeconomics (freshman year) - 3 credits
    EC 102* Principles of Macroeconomics (freshman year) - 3 credits
    EC 201 Microeconomic Theory (sophomore year) - 3 credits
    EC 202 Macroeconomic Theory (sophomore year) - 3 credits
    EC 310 Labor Theory - 3 credits
    EC 351 International Trade and Development - 3 credits
    EC/BA 353 International Finance - 3 credits
    EC 360 Econometrics - 3 credits
    EC 380 Game Theory - 3 credits
    EC 390 Experimental Economics - 3 credits
    EC 401 Advanced Microeconomic Theory - 3 credits
    EC 402 Advanced Macroeconomic Theory - 3 credits
    EC 480 Senior Thesis - 3 credits
    MA 109/111* Calculus I - 4 credits
    MA 110/112 Calculus II - 4 credits
    PS 100* Principles of American Politics - 3 credits

    * Satisfies the core curriculum requirement for social sciences and mathematics. 

    Candidates for the B.S. degree who plan to pursue graduate work in economics, finance or related disciplines are strongly encouraged to complete, at minimum, Calculus III, Differential Equations and Linear Algebra. Consult with a member of the departmental faculty for further assistance in planning course work.

  • Requirements for a Major in Business Economics

    Business Economics Major Requirements - B.S. (70 credits)

    All economics majors (Economics B.A., Economics B.S. and Business Economics B.S.) must take the College Core Curriculum.

    Business Core (45 credits)
    BA 100* Financial Accounting I (freshman year) - 3 credits
    BA 170* Organizational Behavior (freshman year) - 3 credits
    BA 220 Principles of Marketing (sophomore year) - 3 credits
    BA 265 Management Information Systems (sophomore year) - 3 credits
    BA 305 Business Ethics (junior year preferred) - 3 credits
    BA 320 Corporate Finance I (sophomore year) - 3 credits
    BA 340 Business Law (junior year) - 3 credits
    BA 350/BA 350A Statistics I (sophomore year) + Excel Lab - 4 credits
    BA 351/BA 351A Statistics II (sophomore year) + Excel Lab - 4 credits 
    BA 495 Business Policy and Strategy (senior year) - 3 credits
    EC 101 Principles of Microeconomics (freshman year) - 3 credits
    EC 102 Principles of Macroeconomics (freshman year) - 3 credits
    PS 100* Principles of American Politics - 3 credits
    MA 109/111* Calculus I (freshman year) - 4 credits
    BA 00P ePortfolio Requirement (semester of graduation--pass/fail)

    Economics Major requirements (27 credits)
    BA 101 Financial Accounting II (freshman year) - 3 credits
    BA 321 Corporate Finance II (sophomore year) - 3 credits
    EC 201 Microeconomic Theory (sophomore year) - 3 credits
    EC 202 Macroeconomic Theory (sophomore year) - 3 credits
    EC 310 Labor Theory - 3 credits
    EC 351 International Trade and Development - 3 credits
    EC/BA 353 International Finance - 3 credits
    EC 360 Econometrics (sophomore year) - 3 credits
    EC 380 Game Theory - 3 credits

  • Requirements for a Major in Economics and Mathematics

    For those students who will pursue upon graduation an advanced degree (masters or Ph.D. level) in finance or economics.

    College Core (40 credits)
    TH 119 First Theology (freshman year) - 3 credits
    Theology (200 Level) - 3 credits
    Theology (300 Level) - 3 credits
    History (100 Level) - 3 credits
    History (200 Level) - 3 credits
    PL 101 1st Philosophy - 3 credits
    Philosophy Elective - 3 credits
    EL 102 Language and Rhetoric (freshman year) - 3 credits
    English Elective (Literature Course) - 3 credits
    English Elective - 3 credits
    Fine Arts (100 Level) - 3 credits
    Foreign Language Intermediate Level - 3 credits
    Foreign Language Intermediate Level - 3 credits
    First-Year Seminar (additional hour) - 1 credit
    Electives (5 credits)

    Economics Requirements (50 credits)
    BA 350 Statistics I or
         MA 208 Probability and Statistics - 3 credits
    EC 101* Principles of Microeconomics - 3 credits
    EC 102* Principles of Macroeconomics - 3 credits
    EC 201 Microeconomic Theory - 3 credits
    EC 202 Macroeconomic Theory - 3 credits
    EC 310 Labor Theory - 3 credits
    EC 351 International Trade and Development - 3 credits
    EC 360 Econometrics - 3 credits
    EC 380 Game Theory - 3 credits
    EC 390 Experimental Economics - 3 credits
    EC 401 Advanced Microeconomic Theory - 3 credits
    EC 402 Advanced Macroeconomic Theory - 3 credits
    EC 480 Senior Thesis - 3 credits
    MA 111* Calculus I - 4 credits
    MA 112 Calculus II - 4 credits
    PS 100* Principles of American Politics - 3 credits

    Mathematics Requirements (29 credits)
    MA 211 Calculus III - 4 credits
    MA 212 Ordinary & Partial Differential Equations - 4 credits
    MA 251 Linear Algebra - 3 credits
    MA 321 Complex Variables - 3 credits
    MA 421 Real Analysis I - 4 credits
    MA 422 Real Analysis II - 4 credits
    PH 111* General Physics I - 3 credits
    PH 113* General Physics I Lab - 1 credit
    PH 112* General Physics II - 3 credits
    PH 114* General Physics II Lab - 1 credit

    * Satisfies core curriculum requirements for social sciences, mathematics and natural sciences.

    A programming course, EC 353 International Finance and MA 207 Real Analysis II are strongly suggested.

  • Requirements for a Minor in Economics

    Minor in Economics (19 credits) Requirement:

    EC 101 Principles of Microeconomics - 3 credits
    EC 102 Principles of Macroeconomics - 3 credits
    EC 201 Microeconomic Theory - 3 credits
    EC 202 Macroeconomic Theory - 3 credits
    BA 350/BA 350A Business Statistics I + Excel Lab - 4 credits


    Plus one elective (3 credits) from the following offerings:
    EC 310 Labor Theory - 3 credits
    EC 351 International Trade and Development - 3 credits
    EC 353 International Finance - 3 credits
    EC 360 Econometrics - 3 credits
    EC 380 Game Theory - 3 credits
    EC 390 Experimental Economics - 3 credits
    EC 401 Advanced Microeconomic Theory - 3 credits
    EC 402 Advanced Macroeconomic Theory - 3 credits

Program Highlights

Results

Distinctive features of the McKenna School’s Economics Degree
  • Economics Major: Nationally ranked program, based on data up to 2004, in terms of the absolute number of undergraduates who go on to finish a PhD in Economics, SVC ranked 38th of all BA I and BA II Colleges and universities in the U.S.  Since 1984, SVC has had 100 percent placement at highly ranked PhD programs. We have two students with full scholarships and $18,000-$26,000 stipends at U. of Albany and Georgetown University. Since 2011, four of our economics graduates finished their PhDs at Princeton University, University at Albany, Ohio State University and the University of Virginia.
  • A well designed joint mathematics and economics major for students intending to pursue PhDs in Economics or Finance. Some have also used the major to seek advanced degrees in public policy and statistics. Economics majors interested in immediate employment may choose a corporate finance oriented track by majoring in business economics or pursuing a finance minor or joint finance major. These students go directly into the job market and have been highly successful with respect to finance and consulting placements with BNY Mellon, Federated Investors, PNCbank, Edward Jones, Westinghouse, Genesis Health Square, S&T Bank, SAP consulting jobs (e.g., Third Wave Business Systems and Crossroads Partner), actuarial jobs, the Naval District and Sun America Securities.
  • The Economics major is supported by the McKenna School’s Center for Political and Economic Thought (CPET), which brings to campus numerous public policy and economic scholars from around the world. CPET has four major programs, one of which is the Alex G. Economic Education Series which, since 1986, has featured over 100 renowned economists from the top graduate universities in the U.S. and Canada, government and major think tanks. To date, we have had seven Nobel Laureates in economics lecture as part of this series.
  • An outstanding faculty with PhDs from Indiana University of Bloomington (game theory and experimental economics, PhD student of Nobel Prize winner Dr. Elinor Ostrum), Pennsylvania State University (Statistics), University at Albany (international trade, international finance and monetary theory) and Purdue University (econometrics, microeconomics, labor theory and industrial organization).
  • Students may join our nationally ranked mock trial team or SVC Law Society. 

Student Work and Research in Economics

“Granger-Causality Testing Within the Eurozone: Policy Analysis of the Efficacy of the European Central Bank’s Policy Tools.”
Alexander Billy – Top 4 finish (#1 U.S.) in the 11th Annual Best Undergraduate paper competition sponsored by the International Atlantic Economic Society

“Loss Aversion in the Volunteer’s Dilemma”
Marla Turk, Sam Homan, and Samantha Case

“Effects of Lead Donor Framing on Contribution Behaviors in a Threshold Public Goods Fame”
Julia Hlavacik, Ronald Monack, Jonathan Wetzel

“Opportunity Cost of Time Considerations in a Provision Point VCM: Experimental Evidence”
Joshua Gongaware, Ryan Rozanski, Joe Stopansky

“Gender Discrimination in Online Auctions of Gift Cards”
Mike Belitsky and Alexander Billy

“Impace of the Inclusion of Small Monetary Payouts on Labor Market Reciprocity”
Joseph Yusko and Eric Houghton

Accreditations and Affiliations

  • Majors may join Omicron Delta Epsilon, the National Honor Society of Economics.
  • The McKenna School of Business has seven undergraduate programs and one graduate program accredited by the Accreditation Council for Business Schools and Programs (ACBSP). They are: Accounting, Business Education Information Technology, Business Economics, Finance, International Business, Management, Marketing and the Master of Science in Management: Operational Excellence graduate program. The Economics, Politics and Criminal Justice programs are not accredited by the ACBSP; however, all programs in the McKenna School have regional accreditation through the Middle States Association.

Internships and Careers in Economics

  • Ph.D Placements

    Boston College
    Brandeis University
    Clemson University
    Duke University
    George Mason University
    Georgetown University
    Indiana University at Bloomington
    Johns Hopkins University
    Princeton University
    The Ohio State University
    University at Albany
    University of Pittsburgh
    University of Virginia
    University of Washington in St. Louis

  • Professional Schools

    Carnegie Mellon University Heinz School
    George Mason University Law School
    M.A. University of Maryland
    M.B.A. Boston University
    M.B.A. University of Maryland
    M.B.A. University of Pittsburgh
    M.P.A. University of Wisconsin at Madison
    M.S. The Pennsylvania State University
    MES Yale University
    University of Pittsburgh GISPIA
    University of Pittsburgh Law School
    Washington University Law School
    William & Mary Law School 
    Georgetown University Law School

  • Outstanding Job Placements

    Ameriprise
    BNY Mellon
    Citigroup
    Crossroads Partner (SAP B1)
    Dominion Resources
    Federated Investors
    Kennametal Inc.
    Naval District Management Analyst
    PNC Bank Executive Training Program
    SEI
    SOPRIM (Djibouti)
    Sun America Securities
    Third Wave Business Systems (SAP B1)
    U.S. Office of Controller of Currency
    U.S.D.A. Program Technician
    Washington Post Economics Editor
    WSJ Editor (Italy)

  • Job Positions

    Account Specialist
    Actuary
    Advanced Manufacturing Engineer
    Assistant National Bank Examiner
    Associate Field Engineer
    Business Analyst
    Collateral Analyst for Derivatives Team
    Credit Analyst
    Data Analyst
    Financial Analyst
    Market Research Analyst
    Public Policy Research Analyst
    Securities Settlement Processor

Student Learning Outcomes

  • Demonstrate a comprehensive understanding of applied and theoretical economics.
  • Communicate complex economics concepts clearly and concisely in writing and orally.
  • Apply Rigorous analysis to economic issues and problems through the use of market-oriented theoretical models, quantitative techniques, and economic reasoning.
  • Utilize statistical and econometric techniques to test theoretical models.
  • Deliver a presentation with an in depth analysis on an economic topic.
  • Complete an original research project.

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