Economics

Economics 2020-2021

Economics is the study of how society allocates scarce resources (land, labor, capital) in an attempt to satisfy unlimited wants. It is broadly divided into two branches: Macroeconomics and Microeconomics. Macroeconomics is concerned with the workings of the economy as a whole. It is the study of broad measures of economic performance: Gross Domestic Product (GDP), unemployment, and inflation. Given these measures, it considers the role of the government in guiding the macroeconomy. Microeconomics focuses on the role of individual decision-makers--consumers and firms--and analyzes the efficiencies and failures of a market system. The potential role of government to wholly or partially correct market failures is then considered. The two branches approach the fundamental questions of resource allocation from opposite sides: one from the perspective of the economy as a whole (macroeconomics) and one from the perspective of the individual agents in the economy (microeconomics).

Program Learning Outcomes:

-Have a working understanding of the role of prices in a market economy, trade, economic growth, competition, market failures and the economic role of government.
-Employ economic reasoning and logic to explain the world and make better decisions.

Career Opportunities:

A major in economics is excellent undergraduate preparation for students who wish to enter the legal profession, politics, government service or teaching. Graduate degrees are necessary for those who wish to teach at the college or university level. Graduate degrees in economics also afford opportunities for banking careers at the higher management levels and in the fields of securities analysis, finance and, increasingly, in the fields of international finance and international trade. An economics major is highly recommended for entry into Master of Business Administration programs. Statistics and calculus are strongly encouraged for students intending to pursue a baccalaureate degree in economics.

Units Required

Degree Requirements:

-English proficiency: ENGL 1A, 1AH, 1S & 1T, or equivalent.
-Mathematics proficiency: MATH 105, 180, or any MATH course approved for Foothill GE Area V, Communication & Analytical Thinking.
A minimum of 90 units is required* to include:
-Completion of one of the following general education patterns: Foothill General Education, CSU General Education Breadth Requirements or the Intersegmental General Education Transfer Curriculum (IGETC)
-Core courses (18 units)
-Support courses (12 units)

*Additional elective course work may be necessary to meet the 90-unit minimum requirement for the associate degree.

NOTE: All courses pertaining to the major must be taken for a letter grade. In addition, a grade of "C" or better is required for all core and support courses used for the degree.

Additional Information:

NOTE: Students having difficulty attaining an associate degree because of timing or availability of classes should consult with a counselor to submit a petition for course substitution.

Core Courses (18 units)

ECON 1A Principles of Macroeconomics (5 units)
ECON 1B Principles of Microeconomics (5 units)
ECON 9 Political Economy (4 units)
or ECON 9H Honors Political Economy (4 units)
or POLI 9 Political Economy (4 units)
or POLI 9H Honors Political Economy (4 units)
ECON 25 The Global Economy (4 units)

Support Courses (12 units)

Select 12 units from the following:
BUSI 53 Survey of International Business (4 units)
GEOG 5 Introduction to Economic Geography (4 units)
or GEOG 10 World Regional Geography (4 units)
MATH 1A Calculus (5 units)
or MATH 1AH Honors Calculus I (5 units)
MATH 10 Elementary Statistics (5 units)
or PSYC 7 Statistics for the Behavioral Sciences (5 units)
or SOC 7 Statistics for the Behavioral Sciences (5 units)
PSYC 10 Research Methods & Designs (5 units)
or SOC 10 Research Methods & Designs (5 units)
ECON 54H Honors Institute Seminar in Economics (1 unit)
ECON 70R Independent Study in Economics (1 unit)
ECON 71R Independent Study in Economics (2 units)
ECON 72R Independent Study in Economics (3 units)
ECON 73R Independent Study in Economics (4 units)

Control Information:
2020-2021 | Status: Approved | Modified: 2020-04-27 13:52:24 | Dept Code: ECON