ECONOMICS

Economics

The economics curriculum provides understanding of the origins, characteristics and functions of our economic organization, and develops ability to appraise the functioning of the economy and proposals for its improvement. The curriculum emphasizes the development of tools of economic analysis and the study of current institutional arrangements and their consequences. Attention is focused on the effects of individual and collective actions on the economic process.

The department offers the BA and BS degrees in economics. The BA degree offers an excellent background for students planning to enter careers or professional schools in business, law or public policy. The BS offers three specializations. The BS specialization in economic analysis provides the essential mathematical background for employment or graduate study in economics, especially for students planning to enroll in economics doctoral programs. The BS specialization in financial economics is offered for students planning employment or graduate study in financial analysis. The BS specialization in economic policy analysis is offered for students planning employment or graduate study in government, health care and other non-profit organizations. The department also offers a minor.

The Economics Department views the grade of C– as passing but unsatisfactory. Therefore, a course in which a grade of C– or less was received is not acceptable as a prerequisite and may not be used to fulfill the requirements for a major or minor in economics. A course taken under the Pass/Fail option may not be used to fulfill the requirements for a major or minor in economics.

To declare a major or minor in economics, students must have an overall GPA of 2.0 and have completed ECON 160 and 162 with a grade of C or better, or one of these courses with a grade of B or better and be concurrently enrolled in the second course. Students may take ECON 160 and 162 a maximum of two times before declaring the major. No course for the major may be taken more than twice. Any student meeting these requirements will initially be allowed to declare the BA only. Students who subsequently achieve grades of B– or better in both ECON 366, or its approved equivalent, and MATH 220 or 221 may change their major to any of the BS degrees.

Courses numbered 110 and below are intended for non-majors and may not be used to fill major requirements. Courses numbered in the 400s are advanced courses open to students with the proper prerequisites.

Economics Major — BA Degree

Departmental requirements for a BA degree in economics are 10 full courses in economics, or their equivalent, and one course in mathematics, distributed as listed below. ECON 360, 362 and 366 (or equivalent) and MATH 220/221 must be taken at Binghamton. At least five of the 11 total courses, including two at the 400 level, must be taken at Binghamton:

•     ECON 160 and 162;

•     MATH 220 or 221;

•     ECON 360 and 362;

•     ECON 366, MATH 147, MATH 448, CQS 112 or QMMG 111;

•     five other full courses in economics numbered above 110, or their equivalent, of which at least three must be chosen from courses numbered 400-489 (hence, practica, independent studies, internships and honors courses do not count for this requirement); no more than one may be chosen from courses numbered in the 100s.

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Economics Major — BS Specialization in Economic Analysis

Departmental requirements for the BS specialization in economic analysis are 16 full courses from economics and mathematics distributed as listed below. ECON 360, 362 and 366 (or equivalent) and MATH 221 must be taken at Binghamton. At least eight of the 16 required courses and six courses in economics, including two at the 400 level, must be taken at Binghamton:

•     ECON 160 and 162;

•     ECON 360 and 362;

•     ECON 366, MATH 147, MATH 448, CQS 112 or QMMG 111;

•     ECON 464 and 466;

•     MATH 221, 222, 304 and 323;

•     three additional full courses (or equivalent) chosen from economics courses numbered 400-489 (hence practica, independent studies, internships and honors courses do not count for this requirement);

•     two full courses (or equivalent) chosen from courses in economics numbered above 110, no more than one of which may be numbered in the 100s, or from the following courses in mathematics or computer science: MATH 314, 357, 371, 447, 448, 461, 471, 478, CS 140. Other mathematics courses numbered 300 and above may be substituted after written petition to the economics undergraduate director.

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Economics Major — BS Specialization in Financial Economics

Departmental requirements for the BS specialization in financial economics are 16 full courses distributed as listed below. ECON 360, 362 and 366 (or equivalent) and MATH 220/221 must be taken at Binghamton. No course may be counted toward more than one requirement. At least eight of the 16 required courses and six courses in economics, including two at the 400 level, must be taken at Binghamton:

•     ECON 160 and 162;

•     ECON 360 and 362;

•     ECON 366, MATH 147, MATH 448, CQS 112 or QMMG 111;

•     ECON 466 and 467;

•     MATH 220 or 221;

•     CS 205;

•     ACCT 211 and FIN 311;

•     Five other full courses in economics numbered above 110, or their equivalent, of which:

 

      —  no more than one may be chosen from courses numbered in the 100s;

      —  at least three must be chosen from courses numbered 400-489; and

      —  at least three must be chosen from the following list of courses:

            ECON 350, 436, 437, 440, 441, 442, 446, 449, 450, 461, 462.

An internship in financial markets is strongly recommended, in addition to the elective courses.

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Economics Major — BS Specialization in Economic Policy Analysis

Departmental requirements for the BS specialization in economic policy analysis are 16 full courses, distributed as listed below. ECON 360, 362 and 366 (or equivalent) and MATH 220/221must be taken at Binghamton. At least eight of the 16 total courses and six courses in economics, including two at the 400 level, must be taken at Binghamton:

•     ECON 160 and 162;

•     ECON 360 and 362;

•     ECON 366, MATH 147, MATH 448, CQS 112 or QMMG 111;

•     ECON 445;

•     ECON 466;

•     MATH 220 or 221;

•     CS 205;

•     Two courses chosen from PLSC 215, PLSC 456, ENVI 149, ENVI 215, ENVI 312, ENVI 339, ENVI 413, ENVI 415 or another course approved by the director of undergraduate studies;

•     Five other full courses in economics numbered above 110, or their equivalent, of which:

 

      —  at least three are numbered 400-489; and

      —  at least three must be chosen from the following list of courses:

            ECON 414, 430, 433, 436, 437, 443, 444, 446, 449.

An internship in public affairs is strongly recommended for inclusion in addition to the elective courses.

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Honors Programs

Students in either BA or BS degree programs may earn honors in economics in two ways: the curriculum honors program and the J. C. Liu Honors Thesis program. Completion of the curriculum honors program alone with a minimum GPA of 3.3 leads to a degree with honors in economics. Completion of the J. C. Liu Honors Thesis program may earn honors, high honors or highest honors in economics. Completing both programs earns high or highest honors in economics.

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Curriculum Honors Program

Students with grades of B+ or better in both ECON 160 and 162, or scores of 4 or better in the corresponding Advanced Placement examinations, may apply for admission to the curriculum honors program. Students accepted into the program must then earn grades of B+ or better in special honors sections of ECON 360 and 362, as well as a regular section of ECON 366, by the end of the fifth semester. Those maintaining a GPA of at least 3.3 in all five economics courses are invited to complete the program.

By the end of the sixth semester, students must complete ECON 466 with a grade of B+ or better, as well as one 400-level course, which must be designated as a C or W writing course.

J. C. Liu Honors Thesis Program

This is a senior-year program that includes ECON 498, Honors Research Design (four credits), ECON 499, Honors Thesis (four credits), and submission of a thesis judged worthy of honors in conjunction with ECON 499.

Admission to the honors thesis program and to ECON 498-499 is limited to majors with a 3.2 GPA in economics and a 3.0 GPA overall. Completion of or concurrent enrollment in ECON 466 and MATH 220 or 221 is recommended but not required. Requests for admission to the program should be directed to the instructor of ECON 498 in the second semester of the junior year.

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Economics Minor

Departmental requirements for a minor in economics are six full courses or their equivalent, distributed as listed below. Non-Harpur College students must also have a minimum overall GPA of 3.4. At least four of the courses must be taken at Binghamton:

•     ECON 160 and 162;

•     ECON 360;

•     ECON 366, MATH 147, MATH 448, CQS 112 or QMMG 111;

•     any two full courses in economics or their equivalent in addition to the above four, at least one of which must be chosen from courses numbered 400-489.

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Combined Five-Year Program in Economics and Finance

(Pending State Education Department approval) The five-year program in economics and finance offers majors the opportunity to enhance their training with master’s-level courses in economics and in finance, completing both the BS in economics with a specialization in financial economics and the MA in economics with a concentration in economics and finance in five years. To allow completion of both degrees in five years, three graduate courses substitute for undergraduate courses required for the BS. Credit for these courses will be applied to both programs.

Students may apply to the department for admission to the five-year program in the second semester of their third year. Admission to the fifth year is conditional on earning an average GPA of 3.0 in three graduate courses taken in the fourth year.

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