Why Study Economics at IU Southeast?

Some students are attracted to economics through public policy or a desire to understand how the world works. Students who are unsure of a concentration or major will benefit from this program, since their future options are more flexible with an Economics degree. Many graduates use Economics as a stepping stone in preparation for graduate school in Law, Business, and Public Administration, since that it develops one’s ability to think analytically.

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Economics is a social science that develops models for organizing facts and thinking effectively and critically, preparing students to be interested, alert, and competent observers of current events.  A degree in economics empowers a student to make well-reasoned decisions about personal matters, business problems, and public policy.

For a complete list of degree requirements, visit the Bachelor of Science in Business program page »

Business Economics and Public Policy Concentration (24 Cr. Hrs.)

Probably more than any other factor, it is the relevance of economics that initially attracts students. Few, if any, disciplines are equal to economics in preparing one to be an interested, interesting, and competent observer of current events. This is because economics is a social science that develops models for organizing facts and thinking effectively. This empowers its students to make well-reasoned decisions in analyzing personal decisions and business problems and in drawing informed conclusions about public policy–based on a comprehensive analysis of the costs and benefits of alternatives. Because economics is so often connected to governmental policy, students also learn about the legal and political institutions that affect consumers, workers, and businesses. “But what kind of job can I get?” Most graduates use economics as a stepping stone to other occupations. Economic training is wide reaching, and thus, career alternatives are relatively well paid and unusually varied, including business, finance, banking, journalism, and government service. If one is unsure of what major to choose or what career to pursue, economics offers the ability to keep one’s options for the future more flexible. Moreover, the study of economics is an excellent preparation for graduate school in law, business, and public administration, given that it develops one’s ability to think analytically. Law students list economics and accounting as the  undergraduate courses they value most and wish they had taken more often. Those who majored in economics as undergraduates have the highest LSAT scores (Journal of Economic Education, Spring 2006, pp. 263–281). In a word, economics offers a course of study that is interesting and provocative, beneficial in terms of career options, and useful in understanding the world.

Required Courses

Dept. Course Number Title Credit Hours Minimum Grade Co-Reqs or Pre-Reqs
ECON-E 321 Intermediate Microeconomic Theory 3 C- ECON-E 200
ECON-E 322 Intermediate Macroeconomic Theory 3 C- ECON-E 200
Plus any 4 additional courses from these:
ECON-E 323 Urban Economics 3 C- ECON-E 200
ECON-E 333 International Economics 3 C- ECON-E 200
ECON-E 338 Business and Economics Applications of GIS 3 C- ECON-E 200, ECON-E 280
ECON-E 340 Labor Economics 3 C- ECON-E 200
ECON-E 350 Money and Banking 3 C- ECON-E 200
ECON-E 470 Econometrics 3 C- ECON-E 200, ECON-E 281

Required Electives

Any two (six cr. hrs.) 300/400-level Business courses outside Economics. Cannot be satisfied by internship, professional practice or BUS-M 300.

ECON–E 150 Introduction to Economics (3 cr.)
First course in a two-semester sequence, including both macro- and microeconomics, and an emphasis on intuition and concepts. Explains macroeconomics issues such as economic growth and government efforts to regulate the business cycle. Explains microeconomic concepts such as demand/supply and market structures. Will cover topics such as pollution, education, poverty, health, and
international trade/finance.

ECON–E 200 Fundamentals of Economics (3 cr.)
Second-semester combined course in macroeconomics and microeconomic, with an emphasis on the more graphical and theoretical aspects of principles of economics. Explains macroeconomic issues such as economic growth and the benefits and costs of government activism in trying to regulate the business cycle. Further explains the microeconomic topics such as demand/supply and market structures. Will also cover international business and a variety of policy applications.

ECON–E 321 Intermediate Microeconomic Theory (3 cr.)
Consumer and producer theory; pricing under conditions of competition and monopoly; allocation and pricing of resources; partial and general equilibrium theory and welfare economics.

ECON–E 322 Intermediate Macroeconomic Theory (3 cr.)
Theory of income, employment, and the price level. Study of counter-cyclical and other public policy measures. National income accounting.

ECON–E 323 Urban Economics (3 cr.)
Introduction to basic concepts and techniques of urban economic analysis to facilitate understanding of urban problems; urban growth and structure, poverty, housing, transportation, and public provision of urban services.

ECON–E 333 International Economics (3 cr.)
Forces determining international trade, finance, and commercial policy under changing world conditions; theory of international trade, monetary standards, tariff policy, trade controls.

ECON–E 338 Business & Economic Applications of Geographical Information Systems (3 cr.)
The use of Geographic Information Systems (GIS) has become a standard feature amongst government and corporate agencies either for resource management or planning. In the corporate world, GIS is heavily used in locating businesses or retail outlets, food industries, transportation networks, etc. In this course students will be exposed to various applications of GIS with a primary focus on business and economic issues. This course does not cover GIS programming and development of application programs.

ECON–E 340 Introduction to Labor Economics (3 cr.)
Economic analysis of labor markets, including market structure and labor market policies. Topics include minimum wage, mandated benefits, labor unions, discrimination, welfare policy.

ECON–E 350 Money and Banking (3 cr.)
Monetary and banking system of the United States; problems of money and prices, of proper organization and functioning of commercial banking and Federal Reserve systems, of monetary standards, and of credit control; recent monetary and banking trends.

ECON–E 470 Econometric Theory and Practice (3 cr.)
The purpose of this course is to teach students to model and estimate economic problems effectively. Classical regression analysis and its most important exceptions (special cases) will be addressed. Understanding the intuition behind modeling the system and the subsequent results will also be heavily emphasized.

  

Resident

Faculty Bio Thumbnail
Janardhanan A. (Johnny) Alse
Professor of Economics
Director, Center for Economic Education
jalse@ius.edu
Phone: (812) 941-2520
Office Location: HH 219 B
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Kathleen G. Arano
Assistant Professor of Economics
karano@ius.edu
Phone: (812) 941-2536
Office Location: HH 028
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David Baird
Lecturer in Economics
dmbaird@ius.edu
Phone: (812) 941-2362
Office Location: HH 002
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Jon Bingham
Senior Lecturer in Economics
jebingha@ius.edu
Phone: (812) 941-2364
Office Location: HH 119
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D. Eric Schansberg
Professor of Economics
Coordinator of Economics, Finance, and Statistics
dschansb@ius.edu
Phone: (812) 941-2527
Office Location: HH 018
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Arun K. Srinivasan
Assistant Professor of Economics
asriniva@ius.edu
Phone: (812) 941-2067
Office Location: HH 216 M
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Training in Economics is broader than most fields, thus career paths are unusually varied. Career fields include business, finance, banking, journalism, teaching, politics, and government.

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