Economics |
The economics program offers the opportunity to study how incentives affect human interaction (microeconomics) and how the economy grows and fluctuates (macroeconomics).
DEGREE OPTIONS
Two economics degree options are offered by the College of Business and Public Administration: a Bachelor of Science in Business Administration (BSBA) with a major in economics, and a Bachelor of Arts (BA) with a major in economics. In addition, candidates for degrees offered by other colleges at Drake University may add a second major in economics or a minor in economics to their programs.
PROGRAM SIZE
Approximately 40 students are enrolled in the major, but many non majors take economics courses. Average class size in introductory courses is between 40 and 50 students. Average class size in advanced courses is about30 students.
FACULTY
The Economics Department includes 4 full-time faculty; all have earned their doctoral degrees. All full-time faculty are engaged in teaching classes from the introductory to advanced levels.
ACADEMIC PREPARATION
Students who are comfortable with basic mathematics are likely to excel in economics.
Introductory courses in Principles of Macroeconomics and Microeconomics assume only a high school course in algebra, but some advanced courses require basic calculus. Although 100-level mathematics courses are not needed for economics, students planning to major in economics should be careful not to let their quantitative skills lapse.
REQUIRED CREDIT HOURS AND COURSES FOR A MAJOR
All candidates for an economics major must complete the following courses:
- MATH 28 or 50
- STAT 71, 72
- ECON 1, 2, 173, 174
- Five additional economics courses numbered 100 or above
ADDITIONAL REQUIREMENTS FOR THE BSBA DEGREE
Candidates must complete the required business core curriculum, described in the general catalog, including BUS 195 as the Capstone.
ADDITIONAL REQUIREMENTS FOR THE BA
Candidates must write a capstone paper, registered as a one-hour independent study (ECON 199). Candidates for the BA degree may add second majors from other colleges at Drake -- such as mathematics or politics. Students interested in business should consider the BSBA degree, which requires the same economics courses as the BA degree but includes broad training in business subjects.
REQUIRED CREDIT HOURS AND COURSES OUTSIDE MAJOR
The Drake Curriculum, required of all undergraduates, is designed to help students meet personal and professional goals as they acquire fundamental knowledge and abilities in ten Areas of Inquiry, including communication, critical thinking, artistic experience, historical consciousness, information and technology literacy, international and multicultural experiences, scientific and quantitative literacy, values and ethics and engaged citizenship. Students work closely with their academic advisers to craft a program of study in general education that prepares students for civic and professional leadership.
The Drake Curriculum also requires first-year seminars, which foster development of critical thinking and written and oral communication skills through a topical focus; and a Senior Capstone, in which students demonstrate the capacity to bring information, skills and ideas to bear on one project.
REQUIRED CREDIT HOURS AND COURSES FOR A MINOR
The minor is open only to students not enrolled in the College of Business and Public Administration. Candidates for an economics minor must complete the following courses:
- MATH 28 or 50
- ECON 1, 2
- ECON 173 or 174
- Three additional Economics courses numbered 100 or above
It is recommended that candidates for the minor complete both ECON 173 and ECON 174. The second course then counts toward the three additional 100-level courses.
SPECIAL OPPORTUNITIES/INTERNSHIPS
Internships are offered by the College of Business and Public Administration and by the Drake Career Center.
CAREER OPTIONS
An economics major with a BSBA degree provides excellent preparation for entry-level jobs in management and administration.
An economics major also provides excellent preparation for professional study in law, business, or public administration, because economics is an important analytical tool used in these fields. In fact, national data show that students majoring in economics tend to score high on the Law School Admission Test and the Graduate Management Admission Test.
An economics major supplemented by courses in mathematics provides excellent preparation for graduate study in economics or a closely related field such as finance, public policy, and international relations.
ORGANIZATIONS
Qualified students may join Drake University's chapter of Omicron Delta Epsilon, the national honor society in economics.
NOTED ALUMNI
- Jeffrey Parker, BN'74, George Hay professor of economics, Reed College, Portland, OR
- David M. Anhorn, BN'75, field attorney, National Labor Relations Board, Tampa, FL
- Mark S. Cady, BN'75, B.A., LW'78, justice of the Iowa Supreme Court, Des Moines, IA
- Jeffrey Lamberti, BN'85, LW'89, GR '89, attorney, Iowa state senator, and chair of Iowa Senate Appropriations Committee, Ankeny, IA
- Jack Uldrich, BN'86, deputy director of State Office of Strategic and Long-Range Planning and Advisor to Governor Ventura, Minneapolis, MN
- Barbara Oswalt, BN'87, senior utility analyst, State of Iowa, Des Moines, IA
- Russell Smith, BN'88, assistant professor of marketing, Winona State University, Winona, MN
- Jennifer Gerrish-Lampe, BN'94, LW'96, partner, James Law Firm, Des Moines, IA
- Neal Young, BN'97, economic analyst, Minnesota Department of Trade and Economic Development, Minneapolis, MN
