Department of Economics
Faculty:
Niloufer Sohrabji, Professor and Chair
Masato Aoki, Associate Professor
Carole Biewener, Professor
Zinnia Mukherjee, Associate Professor and Program Director, Master of Public Policy
Overview:
Economics is a social science that helps people understand how best to manage resources to promote individual and social well-being. It helps students make sense of worldviews, current events and economic policy debates, while preparing students for informed decision making and a range of careers. The analytical tools of economics are increasingly important to the study of domestic and global issues – from the environment, sustainable resource use and food systems, to economic justice, international relations, and social institutions such as education and health care. Decision makers in business, government, and the nonprofit sector evaluate complex economic issues; informed citizenship makes increasing demands on a person’s knowledge of economics.
The major in economics also provides students with an excellent background for successful careers in finance, industry, government, and the nonprofit sector. Economics majors distinguish themselves by their ability to analyze complex economic and social issues, to engage in empirical and quantitative research, and to communicate the results of their analysis and research through writing and oral presentation. In addition, Economics prepares students for graduate work in many disciplines, including economics, law, business, and public policy. Economics majors develop institutional knowledge about the business world and the domestic and global economic environment in which businesses, households, and communities operate. Majors also come to understand how government policies affect economic activity, along with businesses, communities and individuals.
The Economics Department annually offers the Econnect program to help students transition successfully to careers or graduate study. Econnect features the annual Economics Student-Alumnae Networking Dinner, where Economics alumnae engage in structured and friendly networking with current students. Outcomes include job offers, interviews, internships, guidance in effective networking practices, advice about graduate programs, and networking beyond the Simmons community. In other Econnect activities, alumnae participate in skill-development workshops in interviewing, negotiating, and preparation for graduate study.
The Department’s Internship program (ECON 370) further supports students’ exploration of career interests and provides practice in interviewing, résumé preparation, networking, research, and the opportunity to apply in a professional setting the analytical and communication skills they have developed in their Economics coursework.
The two-course introductory sequence (ECON 100 & ECON 101) gives students the conceptual frameworks for understanding and evaluating the economy from theoretical, historical, and global perspectives. Intermediate microeconomics and macroeconomics (ECON 200 & ECON 201) present major theoretical approaches along with their analytical applications and policy implications.
Economics electives (ECON 124 through ECON 393) extend theoretical and empirical analyses to various aspects of the U.S. and global economy. Econometrics (ECON 393) applies empirical and statistical techniques to the analysis of economic issues.
The senior thesis (ECON 355) is a year-long independent research and writing project for academically outstanding and highly motivated students. It prepares students for graduate-level work and qualifies the student for consideration for Honors in economics.
ECON 355 and ECON 370 do not count toward the 16-semester hour elective requirement for the economics major.
Economics majors may complete the all-College Capstone requirement through ECON 355 Thesis, ECON 370 Internship, ECON 390 Special Topics, or ECON 393 Econometrics. If used for the Capstone, ECON 390 and ECON 393 do not count toward the elective requirement.
Economics is complemented by other fields of study in the liberal arts and sciences and in the professional areas. Students often either double-major in economics and a complementary discipline or combine the economics major with a minor; the variety of possible combinations reflects the intellectual and aspirational diversity of the Simmons student body. In addition, the Department collaborates with other departments in offering courses in East Asian Studies, Environmental Science, International Relations, Public Policy, Sustainability, and Women’s and Gender Studies. Depending on their areas of special interest and future plans, students might consider the joint major in Economics and Mathematics, the joint major in Financial Mathematics, or the minor in Public Policy Studies.
The minor in Economics complements the student’s major area of study. The minor provides either a survey of economic analysis or a focused concentration in particular fields such as the economics of the environment and sustainability, international economics, monetary economics, social analysis, gender, or public policy.
Learning Outcomes:
Economics Major Learning Outcomes:
1. To acquire knowledge of economic concepts, institutions, theories, models, and methodologies, and to demonstrate competency in applying this information to analyze economics events and to evaluate alternative economic policy initiatives.
2. To develop and demonstrate an ability to access and retrieve economic data and information, to manipulate and interpret critically such information, and to identify key relationships among economic data and behaviors.
3. To develop and demonstrate economic literacy through discussion and creative synthesis of economics articles which apply and integrate data, quantitative tools, theoretical models, and policy prescriptions.
4. To refine and demonstrate analytical and critical thinking skills, including logical reasoning and the abilities to apply and interpret quantitative, qualitative, and graphical information in a problem-solving context.
5. To develop and demonstrate the critical thinking skill of comprehending the logical construction of theories and, on that basis, comparing competing explanations and policy implications.
6. To develop and demonstrate an understanding of heterodox approaches to economics and to engage in the study of economics in an interdisciplinary context.
7. To apply course material and analysis in new areas or in new ways, including formulating and conducting economic research and presenting this research both orally and in writing in a polished, professional manner.
Joint Major in Economics and Mathematics Learning Objectives:
1. To understand the basic concepts and techniques in core content areas of mathematics and statistics, and to comprehend and articulate economic concepts.
2. To acquire knowledge of economic concepts, institutions, theories, models, and methodologies including econometrics, and to demonstrate competency in applying this information to analyze economics events and to evaluate alternative economic policy initiatives.
3. Ability to use the knowledge of mathematics, statistics and economics to build theoretically sound economic models, choose relevant data, use appropriate modeling tools and software, and critically interpret the results.
4. Ability to communicate mathematical and economic ideas clearly and precisely.
5. Ability to independently read and learn economic issues expressed and analyzed through mathematical models and techniques.
6. To develop and demonstrate the critical thinking skill of comprehending the logical construction of theories and, on that basis, comparing competing explanations and policy implications.
Departmental Honors:
Candidacy for Honors in Economics requires a minimum GPA of 3.50 or higher in Economics courses by the beginning of the student’s third to last semester (not including Math 118 and Math 120), and a thesis proposal which must be approved by the Department. The Honors candidate must complete ECON 350 Independent Study and ECON 355 Thesis. Upon completion of the thesis, the department determines whether the thesis merits designation of Honors in Economics.