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Show M-Genjeriit DEPARTMENT OF ECONOMICS Elden E. Liechty, Chairman Professors: Richard M. Alston, Wan Fu Chi, Dix W. Cloward, Elden E. Liechty; Associate Proffessor; W. James Smith; Assistant Professors: Dan A. Fuller, Ronald J. Skocki, D. Scott S. Thompson, Michael B. Vaughan. Description —The central concept of economics is scarcity. Scarcity requires people to choose among various alternative employments of limited resources. As an economist, you will be concerned with the allocation of scarce resources in the most efficient way possible. Education —The career field selected will determine the educational goals a student must set. The Ph.D. is required for most college and university teaching. Governmental agencies prefer their economists to have at least a Master's degree. Private business has placed less emhasis on advanced degrees; however, recent studies have indicated a preference for a Master's degree. Professional Outlook — What are your opportunities as an Economics major? What type or work might you actually do as an economist? Depending upon the amount of education you ultimately receive, your future lies in three areas—private business, government, or teaching. Many economists combine their primary occupation with part-time work in another area. It is not unusual for a business economist to teach part-time or for a professor to also be a consultant to a business or government. Most economists work in private industry. They are employed by manufacturing firms, transportation companies, financial institutions, utilities, insurance firms, and investment and brokerage groups. Graduates in economics have employment opportunities that span the entire economy. The 1980-81 Occupational Outlook Handbook predicts that employment opportunities for economists will grow faster than the average for all occupations. Related Careers — People trained in economics complement numerous professions by analyzing both domestic and international trends. The training you receive also provides an excellent preparation for graduate studies in disciplines other than economics. This is particularly true for MBA and law schools. Whatever career you choose, private enterprise, government, education, law, etc., the analytical and communications skills of economics opens the door to a world of varied and exciting opportunities. Program: Business Economics Major — Bachelor Degree I. College Requirements: A. Specific course requirements of the college (see index). Economics SS274 (5) or 430 (4) is recommended to satisfy the state requirement. B. Bachelor Degree General Education requirements (see index). 197 Business & Economics CJ <-UUl/<HIUil natprar ^Sciences, Social ^Jaaencies. Tofhnnln/i rtJufiilUiyy | Education |
