Economics Major, College of Business Administration

Business Economics Major, College of Business Administration

Secondary Specialization (minor), Coll of Bus Admin

Economics Major, Arts Sciences College

Economics Major, Continuing Studies

All Undergraduate Courses

The UNO Department of Economics, a part of the College of Business Administration, offers majors in economics to students in three colleges: the College of Business Administration, the College of Arts and Sciences, and the College of Continuing Studies. Economics is an excellent major for students preparing for careers in business and finance, government policy, educational administration, teaching, health administration, international trade policy, labor relations and collective bargaining, environmental analysis, law, and international relations. The full range of economics undergraduate programs are offered in both the evening and the day sessions for the convenience of students.

ECONOMICS DEGREE PROGRAMS

Economics is concerned with how the economy works, that is, how resources are allocated in production, prices are determined, incomes are distributed and growth occurs. Economists examine how and why individuals decide what jobs to do and what goods and services to buy. They also understand and guide decisions made by businesses and financial institutions about the efficient use of scarce resources to make goods and provide services. Economists also make decisions about how fiscal and monetary policy help us achieve price and employment stability, the effect of the balance-of-payments problem on international trade, the size and future composition of the labor force, the effect of government regulations on price, quantity and quality of goods and services, and environmental costs and benefits of economic activity.

Economists are employed by private businesses of all kinds, government at all levels, educational institutions, labor unions, trade associations and other institutions. In businesses, economists' duties may include forecasting the future environment of the firm, analyzing, making recommendations, and making decisions for important activities such as capital investments, marketing new products, environmental questions, health care financing issues, regulatory issues. In addition, economics is superb preparation for graduate work in areas such as finance management, marketing, public administration, law, political science, gerontology, social work, criminal justice, and accounting. Economics is also an excellent dual major or minor for these other areas of study.

For more information, please see a selection of jobs in which our former majors are employed, plus some information about the economics major from other schools. Students can choose a variety of career paths according to the suggested "directed electives" listed under the descriptions of the majors below.

For the College of Business Administration (1) economics or (2) business economics majors described below, students must completes a total of 18 credit hours in Economics or approved courses.

Summary of the Undergraduate Economics Programs:

1. College of Business BSBA Degree in ECONOMICS

Required Courses

ECON 3200 Economic Theory: Micro
ECON 3220 Economic Theory: Macro

Students must select a minimum of 12 credit hours from Economics Department courses, at the 3000 or 4000 level, of which at least 6 credit hours must be at 4000 level. Public Finance (FNBK 3550) and State and Local Finance (FNBK 4560) are approved as Economics courses.

2. College of Business BSBA in BUSINESS ECONOMICS

For this specialization students must complete a total of 18 credit hours in Economics or approved courses.

Required courses:

All of the following:
ECON 3200 Economic Theory: Micro
OR
ECON 3800 Managerial Economics;
ECON 3250 Business Conditions Analysis
ECON 3300 Intro to Econometrics

At least one of the following:
ECON 3200 Economic Theory: Micro
ECON 3220 Economic Theory: Macro
ECON 3600 Introduction to International Economics
ECON 3800 Managerial Economics
ECON 4210 Industrial Organization
ECON 4300 Quantitative Applications
ECON 4450 Monetary THeory and Policy

Specialization electives:

Any courses from the Economics Program. Of the 18 credit hours required for a Business Economics specialization, 6 credit hours must be at the 4000 level.

Secondary Specialization in Economics in College of Business Administration

A secondary specialization in economics, as a supplement to a specialization in another area, may be obtained by completing Economics 2200 and 2220, Principles of Economics, plus nine hours of upper division courses in economics. Any course that may be used for specializing in economics may also be used for the secondary specialization, provided that at least one of the courses is Economics 3200 (Economic Theory: Micro), 3220 (Economic Theory: Macro), or 3800 (Managerial Economics). A grade of "C" (2.0) or better is required in each course applied toward the secondary specialization.

Arts & Sciences BA Degree

Arts & Sciences General Requirements for the BA
30 Hours of Economics, including

6 hours of Principles of Economics
Economics 3200: Economic Theory Micro
Economics 3220: Economic Theory Macro
Economics 4000 or higher: Any 6 hours.
ISQA 213: Business Statistics
plus 3 additional hours of statistics or math.

Arts and Sciences BS Degree

Arts and Sciences General Requirements for the BS
(except foreign language requirement)
36 Hours of Economics, including

6 hours of Principles of Economics
Economics 3200: Economic Theory Micro
Economics 3220: Economic Theory Macro
Economics 4000 or higher: Any 6 hours.
ISQA 2130: Business Statistics
plus Math 1930, or math through calculus.

College of Continuing Studies BGS Degree

College of Continuing Studies Requirements, plus

• Principles of Economics Macro and Micro (6 hours)
  
• 21 Hours of Economics beyond Principles,
  
• Must include either Econ 3200 or Econ 3220 (both recommended)
  
• Math background: A solid background in algebra is required, statistics is strongly recommended, and calculus is needed to continue for graduate work.
  

CAREER OPPORTUNITIES FOR ECONOMISTS

A good place to start with job opportunities is the UNO Career Exploration and Outreach website. The employment prospects for economists are excellent according to the Occupational Outlook Handbook of the U.S. Department of Labor. Economic analysts are employed in a wide variety of businesses and private institutions. Economists in private sector jobs are involved in such activities as analyzing the impact of national and international economic activity on a business, forecasting cost and demand environment, advising on financial and capital investments, employment and collective bargaining policy, and analyzing the market for new products.

The internationalization of business activities has and will continue to create a vigorous demand for economists with international expertise. Also, financial institutions and health service institutions traditionally have a strong need for economic analysts. Government at all levels employs about a fourth of all economists. In public sector jobs, economists are concerned with economic development planning, monetary and fiscal policy, employment and labor force policy, tax and public spending policy at all levels of government, and urban and regional planning. In addition to familiar Federal agencies such as the Federal Reserve Board and Department of Agriculture, other public policy agencies hire economists in a myriad of other areas such as urban and regional planning, health administration, state and local government fiscal analysis, economic development planning, and environmental impact analysis.

Finally, demand for economists by educational institutions is projected to remain strong. Economics is also an excellent background for the study of law. UNO graduates have found employment in all of these important areas.