INTRODUCTION

Economics is often described as the social science that studies how societies and individuals allocate scarce resources to satisfy competing and unlimited wants. From another perspective, economics deals with the individual’s relationship to the material base and the distribution of resources among social classes. In particular, economics concentrates on decisions made about the production and distribution of goods and services. By developing a diverse set of analytical tools, economics provides insight into how such decisions are made and what consequences flow from them.

The study of economics also allows students to develop a framework for analyzing and answering broad questions related to important public policy issues. How do unemployment and inflation affect the economy? Why do the ups and downs of the stock market matter? Should the Federal Reserve focus more on maintaining low inflation or promoting economic growth? What role should the government play in a market-based economy? Why have wage and income inequality increased in the United States? How will the retirement of millions of baby-boomers impact social security? What policies would help curb U.S. dependency on foreign oil? Is outsourcing a major problem for the U.S. economy? Why do many inner cities continue to experience high rates of poverty and unemployment? How should public health insurance and education policies be designed?

Stockton’s economics program is practical, rigorous and flexible. In addition to learning basic economics theories and how modern market-based economies work, students develop a portable set of analytical thinking and writing skills, making a major in economics the pathway to a diverse array of careers in business, banking and finance, government, law, journalism, public policy and academics.

PROGRAM ORGANIZATION

The components of the core curriculum include the following:

• Introduction to Macroeconomics (ECON 1200)
• Introduction to Microeconomics (ECON 1400)
• Two of the following three courses:
  Intermediate Micro Theory (ECON 3601);
  Intermediate Macro Theory (ECON 3602);
  or Political Economy (ECON 3636).
  For those students who are planning to continue with graduate courses, taking all three courses is recommended.
• History of Economic Thought (ECON 3605)
• Introduction to Econometrics (ECON 3610)
• Senior Seminar (ECON 4695)

The remaining three courses can be drawn from various fields of the discipline, two of which should be 3000 level courses.

The study of economics is interdisciplinary; economics courses are well supplemented by theories and concepts from such fields as political science, sociology, mathematics, history, and business studies. Economics program preceptors assist all economics majors in selecting courses from these fields to broaden the student’s understanding of the social and political implications of economics.

MINOR IN ECONOMICS

Students may obtain a minor in economics if they pass at least five Economics program courses of which two must be ECON 1200 and ECON 1400. The other three economics courses, at least two of which must be at the 3000 level or higher, will be decided on a case-by-case basis in consultation between the student and his/her preceptor and the Economics program.

THREE-YEAR DEGREE PROGRAM

Freshmen and first semester sophomores may obtain a B.A. degree in three years. Interested students should contact the Economics coordinator.

ADMISSION TO THE PROGRAM

The program is open to all students. However, satisfactory progress in program courses is necessary for continuation as an economics major. Each student majoring in economics is assigned a program preceptor for regular consultation about course selection and general academic progress. Those interested in economics are urged to seek program guidance as early as possible.

GLOBAL ECONOMICS CONCENTRATION

Offerings in the Global Economics concentration provide educational opportunities for individuals interested in careers in global network agencies, institutions and corporations. Various agencies of the United Nations, international non-profit research institutions, government agencies and multinational corporations provide employment opportunities for students. With the growing interdependence of nations, there are promising career opportunities for graduates in New York, Washington, D.C. and Philadelphia.

Course work within the concentration will make students aware of major international issues and international economic problems and demonstrate how domestic policy must go beyond the parochial or national levels to assure real progress.

In addition to the seven core courses, students selecting the Global Concentration must include two of the following three courses:

ECON 3655 International Trade
ECON 3670 International Economic Development
ECON 3675 International Money and Finance

GRADUATION REQUIREMENTS

An important goal of the Economics program at Stockton is to provide students with a recognized level of competence in the discipline. This implies an ability to establish hypotheses, in particular those concerning the economic system, and to test them in a rational and consistent manner. In addition to meeting the College’s General Studies requirements, every student is expected to complete satisfactorily 64 program and cognate credits. Besides the seven core courses (See Program Organization, above), all students must complete at least 12 other credits in economics. Of these, at least 8 credits must be from upper-level courses, i.e., courses currently designated at the 3000 level. Of these electives, one or more can be nonclass instruction (See Career Opportunities below).

The remaining 24 credits may be selected from other disciplines as appropriate to the student’s goals. Possible course selections are suggested by the “model curricula” developed by the program. However, every Economics major must consult with his/her preceptor before course selection. All majors must have a C average for economics courses.

GRADUATION WITH DISTINCTION

A bachelor of arts degree with distinction in economics will be awarded to those students who achieve 70% A or A- grades in program and cognate course work completed at Richard Stockton College and maintain at least a B+ average in economics courses. Only Stockton courses will be reviewed for this distinction. The award will be conferred by the economics faculty on those students whose senior thesis or project is judged to be academically excellent.

INTERNSHIPS

Economics program internships provide students with practical knowledge of how the public and private sectors work in solving economic problems. Internships are available at the local and state levels through the economics internship coordinator and at the federal level through the Washington Internship Program.

Any internship experience must be complemented with a formal written report of the student’s activities as they relate to the content of the economics curriculum. Students interested in this form of cooperative education should obtain a copy of Guidelines for Economics Program Internships from Professor Reza Ghorashi.

CAREER OPPORTUNITIES

The thought processes encouraged by the study of economics have wide application outside the discipline itself. A background in economics is useful for someone who plans a career in business or government or who wishes to teach social studies in secondary schools. It is also excellent preparation for those who intend to pursue graduate study in business administration, public administration, urban planning or any of the social sciences. It is also useful for the study of law and, of course, for pursuit of an advanced degree in economics. In fact, a graduate degree in economics may make available more options than any other single discipline because the skills developed are demanded by business, federal, state and local governments, and by colleges and universities for teaching and research. The recent employment opportunities for economists have been better than for many other major

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