DEPARTMENT CHAIR
Morteza Rahmatian
DEPARTMENT OFFICE
Steven G. Mihaylo Hall 3313
DEPARTMENT WEBSITE
http://www.business.fullerton.edu/economics
DIRECTOR, CENTER FOR ECONOMIC EDUCATION
Chiara Gratton-Lavoie
CENTER FOR ECONOMIC EDUCATION
Steven G. Mihaylo Hall 3357
PROGRAMS OFFERED
Bachelor of Arts in Business
Administration
Concentration in Business Economics
Bachelor of Arts in Economics
Minor in Economics
Master of Arts in Economics
Master of Business Administration
Concentration in Business Economics
FACULTY
Naoko Akashi, Radha Bhattacharya, Victor Brajer, Nek Buzdar, Jannet Chang, James Dietz, Vincent Dropsy, Emira Farka, Adrian Fleissig, Andrew Gill, Chiara Gratton-Lavoie, Jane Hall, Larry Howard, Hao Jia, Sherif Khalifa, Emmanuel Lartey, Davina Ling, Robert Mead, Evelina Mengova, Robert Michaels, Howard Naish, Dipankar Purkayastha, Morteza Rahmatian, Jared Rubin, Ousmane Seck, Denise Stanley, Grigor Sukiassyan, David Wong, Feng Xiao
INTRODUCTION
A recent Wall Street Journal article titled “The Hot Major for Undergrads is Economics” stated, “In a global economy filled with uncertainty, many students see economics as the best vehicle for promising good pay and security.”
As a scholarly discipline, economics is over two centuries old. The nature of economic analysis has been described by John Maynard Keynes as “. . . a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessors to draw correct conclusions.”
Economic issues are powerful enough to shape the world. Slowly but surely, economic issues make their way to your pocketbooks. Many pressing social issues have their roots in economics. Microeconomic principles set the foundation for business. Macroeconomic policies shape the destinies of nations. Keynes put it a little more eloquently when he said, “The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else.”
Economics is a fascinating major that helps you develop analytical skills that are applicable to a wide range of jobs. Economists work in Wall Street; banking, finance and insurance, all aspects of business; multinational corporations; real estate; utility companies; non-profits; regulation, city, state and federal government agencies; international agencies like the International Monetary Fund and the World Bank; sports, health and aging; and in academia.
According to the National Association of Business Economists (NABE), “The key skills of the economic analyst compared to other business analysts is the ability to link industry/market developments to the overall economy, i.e., to see the forest as well as the trees. The broad training of economists provides a flexibility that allows them to turn their hand to a broad range of analytical problems – a critical attribute in a company experiencing a redirection of industry interests.”
Students pursuing graduate degrees in many other fields, such as the social sciences, business, public administration, public health, environmental studies, urban studies, law, and journalism find that economics is their best choice for an undergraduate major or minor, given the extensive economic content of these programs. Several studies have shown that lawyers with undergraduate degrees in business economics earn more than other lawyers. 1, 2
The Department of Economics offers graduate and undergraduate degrees:
Advisers
The Business Advising Center, Steven G. Mihaylo Hall 1201, provides information on admission, curriculum and graduation requirements; registration and grading procedures; residence and similar academic matters. In addition, all economics majors should see a faculty adviser in the Department of Economics for information on career opportunities and advanced study. Undergraduates should consult the undergraduate adviser, Dr. Radha Bhattacharya. Graduate students should consult the graduate adviser, Dr. Andrew Gill.
Credential Information
For students interested in a teaching credential, the Department of Economics offers courses that may be included in Subject Matter Preparation Programs and Supplementary Authorization Programs for elementary and secondary teaching.
Further information on the requirements for teaching credentials is found in the Teaching Credential Programs section of this catalog and is also available from the Department Office for Elementary and Bilingual Education and the Department Office for Secondary Education. Students interested in exploring careers in teaching at the elementary or secondary school levels should contact the Office of Admission to Teacher Education, Education Classroom 182.
Awards in Economics
Economics Outstanding Graduate Student Award
Economics Outstanding Senior Award
Economics Wall Street Journal Student Award
Formuzis-Pickersgill-Hunt Student Paper Award
Murray Wolfson Memorial Scholarship
Economics Faculty Student Achievement Award
Norman Townshend-Zellner Award
Levern Graves Award
The Emeriti Faculty and Staff Award
Stewart Long Graduate Study Award
Stewart Long Award for Outstanding New Graduate Student
Klein Family Awards
BACHELOR OF ARTS IN ECONOMICS
Admission to the Economics major involves two steps. Students who apply to the major are initially classified as Pre-economics. After completing the lower-division core requirements with grades of at least “C” (2.0), students may apply to the Economics major. Pre-economics students may take lower-division business and economics courses, but most upper-division courses are not open to Pre-economics students.
The Bachelor of Arts in Economics requires a minimum of 120 units, which includes courses for the major, General Education, all university requirements, and free electives. All of the following requirements must be met for the degree. Students must earn a grade of at least “C” (2.0) in each course listed below. However, a “C” (2.0) average will be acceptable in the upper-division economics electives. For assistance in interpreting these requirements, contact the Business Advising Center, Steven G. Mihaylo Hall 1201. Students should also contact their faculty adviser in the Economics Department prior to or during their first semester.
Required Lower-Division Courses
Accounting 201A Financial Accounting (3)
Accounting 201B Managerial Accounting (3)
OR Math 150B Calculus (4)
Business Admin 201 Business Writing (3)
Econ 201 Principles of Microeconomics (3)
Econ 202 Principles of Macroeconomics (3)
InfoSys/DecSci 265 Introduction to Information Systems and Applications (3)
Math 135 Business Calculus (3)
OR Math 130 Short Course in Calculus (4)
OR Math 150A Calculus (4)
Required Upper-Division Courses
Business Admin 301 Advanced Business Communication (3)
Econ 310 Intermediate Microeconomic Analysis (3)
Econ 320 Intermediate Macroeconomic Analysis (3)
Econ 340 Economic Research Methods (3)
Econ 490 Economics Capstone
InfoSys/DecSci 361A Quantitative Business Analysis:
Probability and Statistics (3)
Economics Electives
Fifteen units of upper-division economics electives (six of which must be 400-level).
No more than three units of independent study may be used to meet the 400-level electives requirement.
Other Requirements, Grades and Residence
Other Requirements. Students must complete all university requirements for the bachelor’s degree. A student who majors in economics can take a certain number of free electives toward the university requirements. The undergraduate adviser will guide the student in selecting courses that match a student’s specific interests and career goals. These courses can be in any field of the student’s interest, such as (but not limited to) finance, insurance, business, public administration, urban studies, geography, statistics and mathematics. Students planning to complete graduate work in economics are advised to take Math 150A,B; Econ 440 and Econ 441.
Grade-Point Average (GPA). Attain at least a 2.0 GPA (“C” average) in all university courses and in the upper-division economics electives. Earn at least a “C” (2.0) grade in each course required for the major (other than the upper-division economics electives where a “C” (2.0) average is required).
Grade Option. Take all required courses in economics, accounting and information systems/decision sciences for a letter grade (A,B,C,D,F). The credit/no credit grading option may not be used for these courses, and a grade of “CR” (credit) will not satisfy the requirements for the degree. Exception: a course in calculus may be taken under the credit/no credit grading option; however, if it is also taken to meet general education requirements, then it must be taken for a letter grade.
Residence. At least 15 units of courses must be taken in residence at the Mihaylo College of Business and Economics at Cal State Fullerton. Also, students must fulfill University residence requirements.
BACHELOR OF ARTS IN BUSINESS ADMINISTRATION
See “Business Administration, Business Economics Concentration.”
MINOR IN ECONOMICS
The economics minor covers the basics in the discipline of economics and gives students the opportunity to explore personal interests through electives. Note that a course in calculus (Math 135 or equivalent) is prerequisite to Econ 310, 315 and 320. Students must earn a grade of at least “C” (2.0) in each course listed below.
Required Lower-Division Courses
Econ 201 Principles of Microeconomics (3)
Econ 202 Principles of Macroeconomics (3)
Required Upper-Division Courses
Business Admin 301 Advanced Business Communications (3)
OR equivalent
Econ 310 Intermediate Microeconomics Analysis (3)
OR Econ 315 Intermediate Business Microeconomics (3)
Econ 320 Intermediate Macroeconomics Analysis (3)
AND nine units of upper-division economics electives
Required Courses for Business Administration Majors
Students with a major in business administration and a concentration other than business economics who wish to minor in economics, must take Econ 201, 202, and 310 (or 315) as part of their major.
For such students, these requirements in the minor will be waived and the minor will consist of Econ 320 and nine units of upper-division economics electives.
Students with a major in business administration and a concentration in business economics may not also minor in economics.
MASTER OF BUSINESS ADMINISTRATION
See “Business Administration, MBA.”
MASTER OF ARTS IN ECONOMICS
This program provides preparation for professional careers in private industry and government and provides a foundation for further graduate work at the doctoral level. Full- and part-time students can be accommodated. Most of the courses are scheduled in the evening.
The curriculum is designed for students with an undergraduate degree in business administration or economics and consists of 10-11 courses (30-33 units). The required courses progress from economic theory through economic model building and estimation to the seminar course on current research, where students are exposed to the latest research in various areas of economics. The graduate curriculum includes four to six courses (12-18 units) of electives. Students have the option of writing a thesis (the thesis track is 30 units) or taking a comprehensive exam (the comprehensive exam track is 33 units) to earn their degrees.
Most graduate courses in Mihaylo College of Business and Economics require classified “MCBE status” and are open only to students with classified standing in the M.A. in Economics, MBA, M.S. in Accountancy, M.S. in Information Systems, or M.S. in Taxation programs.
Admission
Minimum requirements for admission to the MA program are the following:
An applicant who does not meet one or more of the requirements above (including international students who score between 550 and 570 on TOEFL), may still be considered for admission, depending on the evaluation of the entire application file (the students must, however, have a GPA of 2.5 in the last 60 semester units at the time of admission). If admitted, an applicant with one or more deficiencies may be asked to take specified deficiency courses and exams. Students admitted with deficiencies are called “conditionally classified” students. Conditionally classified students can take a limited number of courses at the graduate level, subject to the approval of the graduate adviser of the department. Students are expected to advance promptly to classified standing. Classified students are eligible to take graduate courses for which they are qualified.
Application Deadlines
The deadlines for completing online applications are March 1 for the fall semester and Oct. 1 for the spring semester (see http://www.csumentor.edu). Mailed applications need to be postmarked by the same deadlines. However, deadlines may be changed based upon enrollment projections.
Study Plan
Within one semester of admission, the students are advised to prepare a study plan. A study plan reflects a selection of approved courses that have been taken or will be taken by the student to earn the graduate degree.
Students are urged to meet as soon as possible with the graduate adviser in the Department of Economics to file a study plan and advance to classified standing.
Any study plan course in which a “C-” (1.7) or below is received must be repeated with at least a “C” (2.0) grade, regardless of the overall grade-point average of the students. A minimum 3.0 GPA is required for graduation. Students are also required to graduate in a timely manner.
Required Courses (15 units)
Econ 441 Introduction to Mathematical Economics (3)
Econ 502 Advanced Microeconomic Analysis (3)
Econ 503 Advanced Macroeconomic Analysis (3)
Econ 504 Econometric Analysis (3)
Econ 595 Current Research in Economics (3)
OR approved 500-level substitute
Note: Econ 440, Introduction to Econometrics, is a prerequisite to Econ 504.
Area and Electives Courses (12–18 units)
Students may choose to focus on one of the following elective tracks:
In addition to Econ 441, only two more 400-level courses are allowed on the Study Plan.
Terminal Evaluation (0–3 units)
Econ 598 Thesis Research (3)
OR Comprehensive Examinations
These examinations are given at the end of each semester.
ECONOMICS COURSES
Courses are designated as ECON in the class schedule.
1Black, D., S. Seth, and L. Taylor. “The Economic Reward for Studying Economics.” Economic Inquiry, V41, n3, July 2003, 365-77
2Craft R.K., and J.G. Baker. “Do Economists Make Better Lawyers? Undergraduate Degree Field and Lawyer Earnings.” Journal of Economics Education, Summer 2003, 263-281.
