Undergraduate Bulletin - Loyola Marymount University

Economics
Faculty
Chairperson: James Konow
Professors: James Devine, James Konow, Seid Zekavat
Associate Professors: Joseph E. Earley, Zaki Eusufzai,
Robert Singleton, Renate Thimester
Assistant Professors: Andrew J. Healy,
Dorothea K. Herreiner, Jennifer P. Offenberg
Objectives
The study of economics illuminates both the limitations
and successes of different systems of the production,
distribution, and consumption of material wealth. Because
of the economy’s importance to the human condition,
economic knowledge is useful to many other fields, such as
political science, sociology, anthropology, law, and history.
It, thus, is as central to a liberal arts education as it is to
the business program.
The study of economics involves (1) the development of
theories of economic behavior and their application to new
problems; (2) the use of statistics and other evidence to
test or add content to existing theories; (3) the development
of perspective on economic institutions, economic history,
and the development of economic philosophy. Students are
encouraged to engage in independent research on all of
these levels.
The goal of the program is to provide the student with the
best preparation for employment in business, government,
or secondary education, or for continuation to graduate
studies in business, law, or economics, leading to careers
in management, banking, finance, law, government, or
academia.
Economics Student Learning Outcomes
• Students should demonstrate a solid understanding
of modern microeconomics, macroeconomics,
and statistics, including the dominant theories
of decision-making, markets, and the macroeconomy;
• Students should be able to think analytically using
both the verbal and quantitative tools commonly
employed in economics and to apply those tools
to solve both theoretical as well as practical real
world problems;
• Students should appreciate the importance of
economics in human endeavors and the value of
rigorous economic training for evaluating social
phenomena; they should understand the ethical
concerns that underlie economic policy, including
efficiency and equity.
Major Requirements
ECONOMICS / 125
Students may pursue either a Bachelor of Arts (B.A.) or
Bachelor of Science (B.S.) degree. The specific requirements
of these degrees are explained below.
Bachelor of Arts (B.A. Economics)
This degree is suitable for pre-law students or those
interested in careers in education; urban planning; and
federal, state, and local government.
Lower Division Requirements:
Economics requirements (6-9 semester hours): ECON
110 and 120, or 105, and ECON 230 or 235. A
grade of at least B- (2.7) is required in each of these
courses.
Mathematics requirements (6 to 8 semester hours):
The mathematics requirement for economics may be
satisfied with one of two plans, Plan A or Plan B:
Plan A: Two courses from MATH 120, 131, 132,
and 234. A grade of at least C (2.0) is required in
each of these two courses.
Plan B: MATH 111 and 112. A grade of at least
B- (2.7) is required in each of these courses.
Students are encouraged to follow Plan A and to take
additional mathematics courses beyond these basic
requirements in consultation with their economics
advisor.
Upper Division Requirements (24 semester hours):
Eight upper division economics courses. Three theory
courses are required: ECON 310, 320, and 410.
These courses should be taken by the junior year,
although well-prepared students can take them in
their sophomore year. Five additional upper division
economics courses are required, of which at least one
must be at the 400 level. No more than 30 semester
hours of upper division economics may count toward
the degree requirement of 120 hours.
Bachelor of Science (B.S. Economics)
The Bachelor of Science degree is suitable for students who
1) wish to continue to graduate school in economics or
business (especially finance), 2) are particularly interested
in statistics or forecasting, or 3) are interested in any of
the careers mentioned for the B.A. degree but who desire
a more quantitative preparation. The B.S. degree has the
same requirements as the B.A. degree, except for two
upper division economics course requirements. Specifically,
the B.S. degree additionally requires Mathematics for
Economics (ECON 530) and Econometrics (ECON 532).