The Williams School of Commerce, Economics, and Politics
2018 - 2019 Catalog
Economics major leading to BA degree
A major in economics leading to a Bachelor of Arts degree requires completion of at least 43 credits as follows:
- ECON 100 or both ECON 101 and 102,
- ECON 203, 210, 211; INTR 201, 202
- One economics course numbered at or above 330
- One additional economics course numbered above 300
- Four additional courses in economics numbered above 211
- Achievement in calculus at a level equivalent to MATH 101
- Two additional courses in politics or computer science, or in mathematics for which MATH 101 is a prerequisite
- Grade-point average: at least 2.000 in the economics credits offered for the major, and at least 2.000 in the total of all credits, from whatever department, offered for the major.
Students pursuing Honors in Economics are required to take ECON 399.
- Take either:
- ECON 100 - Introduction to Economics
FDR SS1 Credits 3 Faculty Staff
Open only to students who have not taken ECON 101 and/or ECON 102. Economics is the study of how a society (individuals, firms, and governments) allocates scarce resources. The course includes a survey of the fundamental principles used to approach microeconomic questions of consumer behavior, firm behavior, market outcomes, market structure, and microeconomic policy, and macroeconomic questions of performance of the aggregate economy, including unemployment, inflation, growth, and monetary and fiscal policies.
- or both
- ECON 101 - Principles of Microeconomics
FDR SS1 Credits 3 Prerequisite Open only to members of the Class of 2020 and earlier Faculty Staff
Survey of economic principles and problems with emphasis on analysis of consumer behavior, firm behavior, market outcomes, market structure, and microeconomic policy. The first half of a two-term survey of economics. Should be followed by ECON 102.
- ECON 102 - Principles of Macroeconomics
FDR SS1 Credits 3 Prerequisite ECON 101. Open only to members of the Class of 2020 and earlier Faculty Staff
Emphasis on performance of the aggregate economy. Analysis of unemployment, inflation, growth, and monetary and fiscal policies.
- ECON 203 - Econometrics
Credits 3 Prerequisite INTR 202 or consent of instructor or department head Faculty Anderson, Blunch
Explorations of regression models that relate a response variable to one or more predictor variables. The course begins with a review of the simple bivariate model used in INTR 202, and moves on to multivariate models. Underlying model assumptions and consequences are discussed. Advanced topics include non-linear regression and forecasting. Examples in each class are drawn from a number of disciplines. The course emphasizes the use of data and student-directed research.
- ECON 210 - Microeconomic Theory
Credits 3 Prerequisite ECON 100 or 101, and MATH 101 Faculty Grajzl, Guse
Contemporary theory relating to consumer behavior, the firm's optimizing behavior, the nature of competition in various types of markets and market equilibrium over time. Recommended for economics majors not later than their junior year.
- ECON 211 - Macroeconomic Theory
Credits 3 Prerequisite ECON 100 or both ECON 101 and 102, or instructor consent Faculty Davies, Goldsmith
This course develops the classical macroeconomic framework and uses this to explore the causes and consequences of economic growth, inflation, output, and employment. This same exercise is conducted using alternative theoretical frameworks, including those associated with Keynes, Monetarists, and New Classical thinkers. Emphasis is placed on investigating the impact and effectiveness of monetary and fiscal policy under each of the theoretical paradigms or schools of thought developed.
- INTR 201 - Information Technology Literacy
Credits 1 Prerequisite First-year or sophomore standing Faculty Ballenger, Boylan (administrator)
Pass/Fail only. Available to all students, required of all Williams School majors. MUST be completed by the beginning of the fall term of the junior year. Through the use of interactive online tutorials, students gain proficiency in and a working knowledge of five distinct areas of information technology literacy: Windows Operating System, spreadsheets (Microsoft Excel), word processing (Microsoft Word), presentation software (Microsoft PowerPoint), and basic networking (the Washington and Lee network, basic Web browsing, and Microsoft Outlook). Lessons, exercises, practice exams and exams mix online efforts and hands-on activities.
- INTR 202 - Applied Statistics
Credits 3 Prerequisite INTR 201
An examination of the principal applications of statistics in accounting, business, economics, and politics. Topics include descriptive statistics, probability, estimation, hypothesis testing, and regression analysis.
(Note: A maximum of nine credits from supervised study abroad and/or special topics courses may apply toward major requirements.)
at least 2.000 in the economics credits offered for the major, and at least 2.000 in the total of all credits, from whatever department, offered for the major.