"The study of mankind in the ordinary business of life."
"Economics is the mother science for all business fields."
"The study of how society uses scarce resources to satisfy unlimited consumer wants."
Understanding today's economy is a necessity for everyone from influential politicians to corporate executives to the average citizen. Individuals and organizations are challenged to deal with issues and problems that a fast-paced, ever-changing global economy presents. Their success and survival will depend upon their ability to respond, change, and grow.
Back to top
Economics Jobs for a Major
Over 80% of economics majors use economics as a background for jobs in:
The Computer Industry
Sales and Marketing
Back to top
What is Economics About?
From Edward Elgar Publishing- Current Book Titles
The Economics of Housing
Trade and Environment
Women in the Labor Market
The Economics of Marketing
Service Industries and the Global Economy
Recent Developments in Game Theory
The Economics of Famine
The Economics of Science and Innovation
The Economics of Executive Compensation
The Economics of Unemployment
The Economic Theory of Auctions
Urban and Regional Economics
Economics and Biology
Ethics and Economics
Law and Economics
The Economics of Aging
Economics and Psychology
The Economics of Health
The Economics of Global Warming
Choas Theory and Economics
The Theory of the Firm
The Economics of Energy
Back to top
Economics As A Discipline Is Expanding
Marriage and Divorce
Stock Market Prices
Pollution and the Environment
Whether or not to quit a job.
Whether to have children.
Whether to smoke or use alcohol.
Whether to buy a new or used car.
Back to top
Macroeconomics and Microeconomics
Macroeconomics: An overall approach
Macroeconomics is concerned with the entire economic system. The major actors in economics systems are consumers, businesses and governments. Macroeconomics deals with these groups as aggregates (not as individuals). For example, Gross Domestic Product is the total dollar value of all newly produced good and services during some specific period of time.
Microeconomics: A Detailed Approach
Microeconomics is concerned with individual decision making units. The units include consumers, businesses and resource owners. For example, the price which consumers are willing to pay for an individual good is the type of topic covered here.
Back to top
Economics Deals With Vital Current Problems
Mergers of companies
Money and Inflation
Back to top
What Can Economics Majors Do?
Banking and Finance
Non University Teaching
Back to top
Economics at NAU: Two Degrees and a Certificate
An Economics degree equips the graduate with state-of-the-art analytical tools and knowledge-based skills, making the graduate employable in both the private and public sectors, where critical organizational decisions depend upon an understanding of domestic and global economic environments.
Because economics is so diverse and broad-based, there are two different and unique economics majors offered. One of the major programs grants a Bachelor of Science in Business Administration (BSBA) degree with a major in Economics. The other program grants a Bachelor of Science degree in Economics through NAU's College of Social and Behavioral Sciences. An Economics degree equips the graduate with state-of-the-art analytical tools and knowledge-based skills, making the graduate employable in both the private and public sectors, where critical organizational decisions depend upon an understanding of domestic and global economic environments.
College of Business- BSBA with a Major in Economics
BSBA degree emphasizes the core program in business courses along with the economics major courses
39 hour business core
18 hours in economics including ECO 384 , 385 and 498C. Nine hours from BA 321 and EC0 325, 346, 356, 420, 425, 445, 473, 480, 483, 484 486 and 497
15 hour certificate (other than Business Economics) or other advisor approved option
College of Business- Certificate in Business Economic (15 hours)
6 hours of ECO 284 and 285
9 hours from BA 321 and ECO 325, 346, 356, 384 , 385, 386, 420, 425, 445, 464, 473, 480, 483, 484, 486, 497 and 498C
College of Social and Behaviorial Sciences- Extended BS in Economics
BS in economics degree is based on a broader study of social science courses including political science, geography, history and sociology along with the economics major courses.
18 hour major core take from BA 201 and ECO 284, 285, 384 , 385, and 498
15 hour economics component take from ECO 325, 346, 356, 420, 445, 464, 473, 480, 483, 484, 486 497 and BA 321
18 hour Cross-Disciplinary Focus from one of the following focus areas: Environmental, Quatitative, Social, International and Southwest. See the current Online Course Catalog for the course included in each area.
Back to top
BA 201 Quantitative Methods (3). Basic business statistics including a review of descriptive measures, selected discrete probability distributions, selected continuous probability distributions, and statistical inference; statistical decision making, correlation, and regression. Prerequisites: CIS 120, CIS120L, MAT 110 and MAT 119 All semesters
BA 321 Intermediate Business Statistics (3). Further training in quantitative analysis and business problems; probability, unrestricted and stratified sampling, statistical estimation, statistical decision making, test of hypotheses, analysis of variance, single and multiple regression and nonparametric statistics. Prerequisite: business major status (or BA 201 for nonbusiness majors).
ECO 284 Principles of Economics: Micro (3). Overview of a market economy; analysis of supply and demand; using graphical techniques; consumer behavior; production and costs; determination of prices in various product and resource markets; international economics. Prerequisite: must be eligible to take MAT 110. All semesters
ECO 285 Principles of Economics: Macro (3). Measurement of national economic variables; the determination of output, income, employment, and price levels through aggregate supply and demand analysis and related graphical techniques; business cycles, fiscal and monetary policy, international trade. Prerequisite: must be eligible to take MAT 110. All semesters
ECO 325 Environmental Economics (3). Issues, theories, and policies of environmental economics, including cultural, social, and ethical issues; theories of externalities, property rights, optimal depletion rates and sustainable development; and policy and regulation of environmental economic activity. Prerequisites: ECO 284 and junior status. Fall, odd years
ECO 346 Economic and Business Forecasting (3). Regression, indicator methods, and time-series methods applied to industry and macroeconomic forecasting problems. Prerequisites: CIS 120 and CIS 120L, ECO 285, BA 201, and Junior status. Occasional..
ECO 356 Regional and Urban Economics (3). Theory of regional economics; techniques for analyzing historical and potential growth patterns; problems associated with rapid urbanization; public and private programs designed to alleviate these problems. Prerequisite: ECO 284 and Junior status. Occasional..
ECO 384 Intermediate Microeconomic Theory (3). Nature of economic analysis; theories of demand, production, and supply; price and output determination; and resource utilization. Prerequisites: CIS 120 and 120L, ECO 284, ECO 285 and Junior status. Fall
ECO 385 Intermediate Macroeconomic Theory (3). Measurement of economic activity; classical, Keynesian, neo-Keynesian, and monetarist theories of income and employment; fiscal and monetary policy; economic growth and fluctuations; international trade. Prerequisites: CIS 120 and 120L, ECO 284, ECO 285 and Junior status. Springl
ECO 420 Industrial Organization (3). Application of market theory to industrial organization. Prerequisite: ECO 284 and Junior status. Occasional..
ECO 425 Economic Development of the Reservation (3). Problems of economic development of Indian reservations and possible solutions. Historical, legal, and social problems; political, structural, economic, and cultural solutions. Prerequisites: ECO 284 and junior status. Occasional.
ECO 445 Public Finance (3). Theories of government financing, studies of taxation and expenditures, government debt, and intergovernmental fiscal relations. Prerequisite: ECO 284 and junior status. Fall
ECO 464 Labor Economics (3). Economic theory applied to the operation of the labor market; theory of and evidence for labor supply and demand and their interaction; the economics of unions; examines real wages and the wage structure. Prerequisites: ECO 284, ECO 285 and junior status. Spring
ECO 473 Money and Banking (3). History and functions of money and banking institutions; financial markets and interest rates; monetary theory and policy; and international finance. Prerequisite: ECO 285 and junior status. Fall, Spring
ECO 480, POLITICAL ECONOMY (3). Examines and assesses classical liberal, modern liberal, and socialist systems of political economy. Prerequisite: Junior status. Occasional.
ECO 483 Comparative Economic Systems (3). Political-economic comparison and analysis of contemporary capitalist economies in Europe, Asia, and North America in relation to the evolution and transformation of the Soviet model in eastern European Russia and the noncapitalist systems in China, Cuba, and other parts of the Third World. Prerequisite: ECO 285 . Fall, Spring
ECO 484 Development of Economic Thought (3). Historical development of the study of economics, beginning with mercantilism and including classical, Marxian, Austrian, institutional, Keynesian, neo-Keynesian, and new classical schools of thought. Prerequisites: ECO 284, ECO 285 and Junior status. Occasional..
ECO 486 International Economics (3). Economic theory as applied to international trade and finance, sources of comparative advantage, the benefits of trade including balance of payments analysis, theories of exchange rate determination, the international monetary system, costs and benefits of various exchange rate regimes, international cooperation, and the impact of various macroeconomic policies in an open economy setting. Prerequisite: ECO 284, ECO 285 and Junior status. Fall, Spring
ECO 497 Independent Study (3).
Experiential learning applied to real economic problems. Prerequisite: permission
ECO 498 Senior Seminar in Economics (3). Senior-level research course designed to give you research experience in your major field. Prerequisites: ECO 384 and 385. Spring.
Back to top
Back to top
2003NAU and CBA
ALL RIGHTS RESERVED Dr. James V. Pinto Economics Area Web Master