Economics, B.S.
Program Description
Economics majors choose from a B.A., B.S. or B.B.A. degree. The B.A. and B.S. degrees are traditional liberal arts degrees that lead to a variety of career and graduate school options; the B.B.A. is designed to prepare students for careers in business.
The minimum requirement for a B.S. degree in economics is 36 credit hours of economics including 21 credit hours of core courses and 15 credit hours of electives. It is also necessary for the student to complete the quantitative and scientific literacy requirements for a B.S. degree as well as complete the General Education program.
Admission and Retention Requirements
College of Business Progression Standards
Any student admitted to JMU can declare any major offered by the College of Business. However, students must make satisfactory progress in order to be formally admitted into the College of Business. Requirements to continue pursuing a B.B.A. degree, often referred to as progression standards or formal admission, can be found on the College of Business catalog page.
Degree Requirements
| Degree Requirements | Credit Hours |
|---|---|
| General Education 1 | 41 |
| Quantitative requirement 2 | 3 |
| Scientific Literacy requirement 2 | 3-4 |
| Major requirements (listed below) and electives | 72-73 |
| Total | 120 |
- 1
The General Education program contains a set of requirements each student must fulfill. Some credits may be fulfilled by courses required within the major.
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In addition to course work taken to fulfill General Education requirements.
Major Requirements
| Code | Title | Credits |
|---|---|---|
| Required Economics, B.S. Courses | ||
| ECON 200 | Introduction to Macroeconomics [C4GE] 1 | 3 |
| ECON 201 | Introduction to Microeconomics 1 | 3 |
| ECON 284 | Introduction to Quantitative Analysis in Economics 1,2 | 3 |
| ECON 331 | Intermediate Microeconomic Theory 3 | 3 |
| ECON 332 | Intermediate Macroeconomic Theory 3 | 3 |
| ECON 385 | Econometrics 3,4 | 3 |
| ECON 488 | Senior Capstone Seminar in Economics | 3 |
| Economics electives (at least six credits must be at the 400 level) 5 | 15 | |
| Subtotal | 36 | |
| Additional Required Courses | ||
| Choose one of the following calculus courses: | 3-4 | |
| Applied Calculus [C3QR] | ||
| Calculus with Functions I [C3QR] | ||
| Calculus with Modeling I [C3QR] | ||
| Calculus I [C3QR] | ||
| Topics in Applied Calculus in ISAT [C3QR] | ||
| Choose one of the following statistics courses: | ||
| MATH 220 | Elementary Statistics [C3QR] | 3 |
| or COB 191 | Business Analytics I | |
| Subtotal | 6-7 | |
| Total Credits | 42-43 | |
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Students need a grade of "C" or better in ECON 200, ECON 201, and ECON 284 as a prerequisite for advanced economics courses.
- 2
- 3
Students need to complete ECON 331, ECON 332, and ECON 385 with a grade of "C" or better to graduate with an Economics degree.
- 4
Students must complete ECON 385 with a grade of "B-" or better in order to choose ECON 483 or ECON 485 as an elective option.
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Economics Concentrations
Concentration in Environmental and Natural Resource Economics
Students who elect a major in Economics with a concentration in Environmental and Natural Resource Economics are required to meet degree requirements and complete the following Economics courses (which can also be used to satisfy degree requirements) as well as the classes specified in either Option A or Option B.
| Code | Title | Credits |
|---|---|---|
| Environmental and Natural Resource Economics Concentration Courses | ||
| Choose two of the following: | 6 | |
| Environmental Economics | ||
| Economics of Natural Resources | ||
| Urban Economics | ||
| Choose one of the following: | 1-3 | |
| Economics Internship (topic must be related to Environment and Natural Resources) | ||
| Special Studies in Economics (topic must be related to Environment and Natural Resources) | ||
| Subtotal | 7-9 | |
| Electives | ||
| One 200- or 300-level economics elective | 3 | |
| Two 400-level economics electives | 6 | |
| Subtotal | 9 | |
| Options | ||
| Choose one of the following options: | 9-12 | |
| Option A (12 Credits) | ||
| For students with an interest in environmental sustainability as it applies to forests, fisheries and wildlife. | ||
| Foundations of Biology I [C3NS] and Foundations of Biology I Laboratory [C3L] | ||
| Quantitative Ecology and Evolution and Quantitative Ecology and Evolution Laboratory | ||
Choose one of the following: | ||
| Foundations of Biology II and Foundations of Biology II Laboratory | ||
| Physical Geography (2, 2) | ||
| Physical Geology [C3NS] and Physical Geology Laboratory [C3L] | ||
| Environmental Issues in Science and Technology (2,3) [C3PP] | ||
| Option B (9-11 Credits) | ||
| For students interested in global climate change and environmental sustainability (including traditional approaches to pollution prevention and control). | ||
Choose one of the following: | ||
| Physical Geography (2, 2) | ||
| Earth Systems and Climate Change [C3NS] | ||
| Environmental Issues in Science and Technology (2,3) [C3PP] | ||
Choose two of the following: | ||
| Environmental Ethics | ||
| Climatology | ||
| Global Climate Change | ||
| Water Resources of the World | ||
| Sustainability: An Ecological Perspective | ||
| U.S. Environmental History | ||
| Fundamentals of Environmental Science and Technology I | ||
| Fundamentals of Environmental Science and Technology II | ||
| Industrial Environmental Management | ||
| Industrial Hygiene | ||
| Industrial Ecology | ||
| Sociology of the Environment | ||
| Subtotal | 9-12 | |
| Total Credits | 25-30 | |
Concentration in Financial Economics
Students who elect a major in Economics with a concentration in Financial Economics are required to meet Economics degree requirements and complete the following courses (which can also be used to satisfy degree requirements).
| Code | Title | Credits |
|---|---|---|
| Financial Economics Concentration Courses | ||
| ECON/FIN 372 | International Finance and Payments | 3 |
| ECON 430 | Monetary Theory | 3 |
| or ECON 483 | Applied Time Series Analysis | |
| It is also required that the following 12 credits of Finance courses be used to satisfy six credits of the 300-level Economics elective credits required for the degree. 1 | ||
| FIN 301 | Principles of Finance | 3 |
| or COB 300B | Integrative Business: Finance | |
| FIN 360 | Analytical Methods in Finance | 3 |
| FIN 371 | Principles of Investments | 3 |
| FIN 380 | Elemental and Derivative Securities Analysis | 3 |
| Subtotal | 18 | |
| Elective | ||
| One 400-level ECON elective (not including ECON 490, ECON 499A) | 3 | |
| Subtotal | 3 | |
| Total Credits | 21 | |
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Note that this makes it possible to receive a degree in Economics with a concentration in Financial Economics with no more than 30 credits in Economics.
Concentration in International and Development Economics
Students who elect a major in Economics with a concentration in International and Development Economics are required to meet degree requirements and complete the courses listed below (which can also be used to satisfy degree requirements).
| Code | Title | Credits |
|---|---|---|
| International and Development Economics Concentration Courses | ||
| Choose four of the following: | 12 | |
| Comparative Economic Systems | ||
| Economic Development | ||
| International Trade and Trade Policies | ||
| International Finance and Payments | ||
| Economic Growth | ||
| Subtotal | 12 | |
| Electives | ||
| Two 400-level economics electives | 6 | |
| Subtotal | 6 | |
| Total Credits | 18 | |
Concentration in Political Economy
Students who elect a major in Economics with a concentration in political economy are required to meet degree requirements and complete four of the following courses (which can also be used to satisfy degree requirements).
| Code | Title | Credits |
|---|---|---|
| Political Economy Concentration Courses | ||
| Choose four of the following: | 12 | |
| Comparative Economic Systems | ||
| Public Finance | ||
| Game Theory | ||
| Political Economy | ||
| Theory of Public Choice | ||
| Economics of Regulated Industries | ||
| Subtotal | 12 | |
| Electives | ||
| Two 400-level economics electives 1 | 0-6 | |
| Subtotal | 0-6 | |
| Total Credits | 12-18 | |
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ECON 405, ECON 426 and/or ECON 455 also fulfill this 400-level elective requirement if taken to satisfy the 12 credit hour concentration requirement.
Concentration in Quantitative Economics
Students who elect a major in Economics with a concentration in Quantitative Economics are required to meet degree requirements and complete the following courses (which can also be used to satisfy degree requirements). Note that along with the required 12 credit hours in the Quantitative Economics concentration, students are required to complete additional elective courses to satisfy the major requirements.
| Code | Title | Credits |
|---|---|---|
| Quantitative Economics Concentration Courses | ||
| ECON 483 | Applied Time Series Analysis | 3 |
| or ECON 485 | Advanced Econometrics | |
| Choose two of the following: | 6 | |
| Mathematical Economics | ||
| Advanced Microeconomic Theory | ||
| Advanced Macroeconomics | ||
| Economic Growth | ||
| Applied Time Series Analysis 1 | ||
| Advanced Econometrics 1 | ||
| Subtotal | 9 | |
| Electives | ||
| One 300- or 400-level economics elective in addition to the courses taken to satisfy the credit hour concentration requirement | 3 | |
| Subtotal | 3 | |
| Total Credits | 12 | |
- 1
If taken as a required course above, students cannot also apply the course in this category.
Concentration in Socioeconomics
Students who elect a major in Economics with a concentration in Socioeconomics are required to meet Economics degree requirements and complete the following courses (which can also be used to satisfy degree requirements).
| Code | Title | Credits |
|---|---|---|
| Socioeconomics Concentration Courses | ||
| Choose four of the following: | 12 | |
| The Economics of Women and the Family | ||
| Behavioral Economics | ||
| Health Economics | ||
| Economics of Natural Resources | ||
| Labor Economics | ||
| Economic Development | ||
| Urban Economics | ||
| Experimental Economics | ||
| Subtotal | 12 | |
| Electives | ||
| Two 400-level economics electives | 6 | |
| Subtotal | ||
| Total Credits | 18 | |
Recommended Schedule for Majors
First Two Years
During the first two years, students should complete:
| Code | Title | Credits |
|---|---|---|
| Most of the General Education program | ||
| ECON 200 | Introduction to Macroeconomics [C4GE] | 3 |
| ECON 201 | Introduction to Microeconomics | 3 |
| ECON 284 | Introduction to Quantitative Analysis in Economics | 3 |
| COB 191 | Business Analytics I | 3 |
| Choose one of the following: | 3-4 | |
| Topics in Applied Calculus in ISAT [C3QR] | ||
| Applied Calculus [C3QR] | ||
| Calculus with Functions I [C3QR] | ||
| Calculus with Modeling I [C3QR] | ||
| Calculus I [C3QR] | ||
| Total Credits | 15-16 | |
Additional Information
Students are encouraged to take ECON 331 and/or ECON 332 in their sophomore year (provided that the course prerequisites have been met).
Third and Fourth Years
B.S. economics majors should complete ECON 331, ECON 332, and preferably ECON 385 by the end of their junior year. While most majors will complete the 400-level requirements in economics during their senior year, students may take a 400-level course during their junior year if the prerequisite for the course has been met. ECON 488 should be taken during the senior year.