Economics
Dr. Thomas Kelly, chair
Dr. Michael Welker
Prof. Joseph Zoric
Mission
The mission of the Department of Accounting, Business Administrator, and Economics is to provide undergraduate and graduate students a business education that is grounded in real-world best practice and illuminated by Catholic social thought. Our programs equip students with an outstanding professional competence that is fully integrated with the Franciscan value of transformational leadership in order for them to become business leaders that are ready to advance society in both profit and non-profit organizations.
Aims
Economics is concerned with the decisions made by persons and other economic agents participating in and affected by the process of exchange which is the organization of markets and a society of free work, enterprise, and participation. Economists study this process of exchange to develop an understanding of society, culture, and the human person.
A major objective of the curriculum is to expose students to philosophy, theology, history, and culture so that questions often perceived as purely political, historical, or philosophical may be more completely understood and analyzed. The overarching goal of the major is to enable students to think like economists. At the same time, students are encouraged to draw upon insights from other fields when studying economic problems.
The curriculum exposes students to economic theory and tools, to the methods and insights of economic thinking, and to special aspects of contemporary economic questions. In addition, students gain insights into the proper role of economic analysis and theory in the intellectual tradition through the study of the human sciences. Finally, the curriculum offers a solid technical foundation to ensure that students have the quantitative skills needed by modern economists.
The intellectual skills and knowledge acquired by persons who study economics are prized by business, government, and graduate schools. Students completing the degree requirements will be prepared for employment in a variety of careers and for graduate study in diverse fields such as economics, business administration, finance, law, public administration, and policy analysis and formulation.
Assessment Learning Goals (BS in Economics)
Students will be able to:
- Identify and distinguish the most essential definitions and theories in the core areas of business.
- Develop effective written forms of communication which demonstrate analytical and critical-thinking skills using decision support tools in an integrated manner in the analysis of organizational problems and challenges.
- Develop and present effective oral forms of communication.
- Evaluate ethical issues involving complex organizational and societal issues in light of Catholic social thought.
- Examine evidence-based solutions for contemporary ethical business challenges within a team-based problem-solving framework.
Assessment Learning Goals (BA in Economics)
Students will be able to:
- Identify and distinguish the most essential definitions and theories from macroeconomic and microeconomic theory.
- Define the determinants of macroeconomic conditions (national output, employment, and inflation), causes of business cycles, and relationships of fiscal and monetary policy.
- Apply economic theories and analytical skills in assessing economic situations in applied microeconomics and international economics and make policy recommendations for a variety of economic problems.
- Develop and present effective oral forms of communication.
- Evaluate ethical issues involving economic and societal issues in light of Catholic social thought.
Economic Course Descriptions