Economics

College: Social Sciences and Public Policy
Degree: BS
Specialized Admission: No

Description of Major

*Please Note: Face-to-face/in-person instruction of this program is available ONLY at the main campus in Tallahassee, FL. This program is NOT available via Online/Distance Learning.*

The Economics major strives to make students aware of the critical issues in economics; to provide them with a basic understanding of the tools needed to analyze those issues; and to prepare them for (a) entry-level positions in financial, managerial and administrative areas of the public and private sector, or (b) entry into graduate and professional schools of law, business, economics, and social sciences. Among the topics covered by the curriculum are the theory of markets and the price system, the organization of industries, labor supply and its uses, the commercial banking and credit system, government finance, the national income and its production and distribution, economic growth and development, and international trade and finance. An internship program (ECO 4941) is available to qualified students.

Prerequisite Coursework

Prerequisite Coursework: 6 hours.
A grade of C or higher is required in each course (C minus is not accepted).

Students must also earn a GPA of a 2.50 or higher between the two courses.

ECO X013 (3) Principles of Macroeconomics
ECO X023 (3) Principles of Microeconomics
or six (6) semester hours in economics courses (ECO).

These may also apply toward the major and General Education.

Note: State-wide common prerequisites are always under review. For the most current information and for acceptable alternative courses, visit the “Common Prerequisites Manual.” This is available from the “Student Services” section of http://www.flvc.org .

Supporting coursework
Students who plan to major in Economics:

MAC1105 College Algebra (or higher math) and a statistics course such STA 2023 Business Statistics or STA 2122 Applied Statistics (preferred option) or STA 4321 Mathematical Statistics are strongly recommended to be completed by the end of the sophomore year.

These may also apply toward the major and General Education.

**A calculus course (either MAC2233 Business Calculus or MAC2311 Calculus I) is required for graduation for students entering the Economics major as of Fall 2024. Students who enter the Economics major prior to Fall 2024 can choose among several math courses (MAC1105, MAC1140, MAC1147, MAC2233, or MAC2311).

Admission Requirements to the Upper-Division Major
Students must have 52 or more credit hours completed, including both ECO2013 and ECO2023 each completed with a grade of 'C' or higher, have a 2.50 or higher GPA in ECO2103 and ECO2023, and at least half the required General Education hours, including all English composition and mathematics requirements, or an A.A. Degree.

Requirements

Continuation/progress in the major
Students must earn grades of C minus or higher in all upper-level economics courses and supporting courses used to satisfy major requirements and must maintain an overall GPA of 2.00 in economics and supporting courses. Majors are required to complete all core courses by the first semester of their senior year, but are strongly encouraged to do so by the first semester of their junior year. To continue in the major, required milestones can be found on the Academic Map. At least 18 hours in economics courses must be taken at FSU. Any transfer credit intended to meet major requirements must be approved by the Undergraduate Director for Economics.

A student who has received more than two (2) unsatisfactory grades (U, F, D, D-, D+) in any ECO, ECP, or ECS upper division course, taken at Florida State University, including repeated unsatisfactory grades in the same course, will not be permitted to graduate with a degree offered by the Department of Economics.

Economics Major: 42-43 hours

Principles: (6 hours)
ECO 2013 (3) Principles of Macroeconomics (final grade of 'C' or better required)
ECO 2023 (3) Principles of Microeconomics (final grade of 'C' or better required)

Economics Core Courses: (12 hours)
ECO 3101 (3) Intermediate Microeconomic Theory
ECO 3203 (3) Intermediate Macroeconomic Theory
ECO 3431 (3) Analysis of Economic Data
ECO 4421 (3) Introduction to Econometrics

Other required Economics coursework: (15 hours)
15 additional hours of 3000/4000 economics elective courses must be completed. (For further details see the Department's website: http://coss.fsu.edu/economics ).

Supporting coursework: (9-10 hours)
MAC 1105 (3) College Algebra
STA 2023 (3) Business Statistics or STA 2122 (3) Applied Statistics (preferred option) or STA 4321 (3) Mathematical Statistics.
MAC2233 (3) Business Calculus or MAC2311 (4) Calculus I

Calculus is required for graduation with an economics major and is required for admission to the Master’s in Applied Economics.

Note that MAC 2311 Calculus I requires MAC 1140 Precalculus Algebra and MAC 1114 Analytic Trigonometry, or MAC 1147 Precalculus Algebra/Trigonometry as prerequisites. Students may use CLEP credit to satisfy prerequisites instead.

Note that STA4321 Mathematical Statistics requires MAC 2311 Calculus I as a prerequisite.

Minor Coursework: 12-18 hours.
A minor is required for the Economics major. Recommended minors are: business, business analytics, entrepreneurship, math, statistics, computer science, history, psychology, and anything in the social sciences. Students must contact the department offering the minor to determine requirements and must meet those requirements.

Digital Literacy:
ECO 4421 (3) Introduction to Econometrics fulfills this requirement for this major.

Oral Communication Competency: 0-3 hours
Students must demonstrate the ability to orally transmit ideas and information clearly. This requirement may be met with a University approved college-level course.

Minimum Program Requirements - Summary
Total Hrs. Required 120
General Education 36*
Major Coursework (including Supporting Courses) 42-43*
Minor Coursework 12-18
Digital Literacy 0 beyond major requirements
Oral Communication Competency
Other Coursework 0
Electives to bring total credits to 120

*Note: ECO 2013 (3) and ECO 2023 (3) are listed as “Major” requirements, but they may also satisfy some General Education requirements. Mathematics and statistics courses may also satisfy some General Education requirements. Calculus is strongly recommended for students who plan to enter graduate school.

Mapping
Mapping is FSU’s academic advising and monitoring system. Academic progress is monitored each Fall and Spring semester to ensure that students are on course to earn their degrees in a timely manner. Transfer students must meet mapping guidelines to be accepted into their majors. You may view the map for this major at www.academic-guide.fsu.edu/.

Remarks
1. A minimum of 45 hours at the 3000 level or above, 30 of which must be taken at this University.
2. Half of the major course semester hours must be completed in residence at this University.
3. The final 30 hours must be completed in residence at this University.
4. Students who plan to earn the B. A. degree must complete a foreign language through the intermediate (2200 or equivalent) level and nine additional hours in the fields of history and humanities.

Employment Information

Salary Information: For more information go to: National Association of Colleges and Employers (www.naceweb.org) or the Occupational Outlook Handbook (www.bls.gov/ooh/home.htm) provided by the U.S. Bureau of Labor Statistics.

Representative Job Titles Related to this Major: Bank Examiner, Consultant to business, government, etc., Credit Analyst, Economist, Investment Analyst, Economic Analyst, Loan Officer, Financial Reporter/Analyst, Purchasing Agent, Teacher at a College or Junior College (with further education), Securities Broker, Underwriter, Actuary, Insurance Claim Examiner.

Representative Employers: Banks and Financial Institutions, Large Manufacturing Firms, Insurance Companies, Research Firms, Brokerage Houses, Trade Unions, Governmental Agencies, Business Associations, College and Universities (Ph.D. graduate), Consulting Firms.