Economics
California Lutheran University’s bachelor of arts degree program in economics prepares students for a variety of careers by offering a strong background in liberal arts and social science studies as well as in all aspects of business.
Economics majors will take a sampling of business courses including principles of marketing, finance, organizational behavior, career development, accounting and statistics. Advanced courses within the economics curriculum include the history of economic thought, macro-economics, price theory, international economics and research methods. Students are encouraged to work in internships and on independent projects in order to combine course work with hands-on experience in the world of economics.
Along with many other opportunities, economics majors have access to the University’s Economic Research Center which gathers economic data for Ventura County and parts of Los Angeles County. CLU students participate in and contribute to the formulation and gathering of the data.
Economics graduates may take many career paths, including careers in banking and finance, economic and demographic research and forecasting, and urban planning.
The CLU School of Management also offers graduate courses leading to the master of business administration and master of science in economics.
See Business Administration for faculty listing.
Bachelor of Arts in Economics
41 credits minimum, 20 credits upper division.
Select one of the following: | 5-6 | |
General Economics and General Economics Lab | ||
Introduction to Micro-Economics and Introduction to MacRo Economics | ||
MATH 245 | Applied Calculus | 4 |
ECON 311 | Statistical Methods | 4 |
ECON 406 | Intermediate Macro-Economics | 4 |
ECON 411 | Intermediate Micro-Economics | 4 |
ECON 445 | Research Methods - Capstone | 4 |
ECON 450 | Econometrics | 4 |
Select three of the following: | 12 | |
Economic Systems and Society | ||
Labor Economics | ||
Quantitative Analysis in Business | ||
Comparative Ecomic Systems | ||
Money and Banking and Capital Markets | ||
History of Economic Thought | ||
Economics of the Environment | ||
International Economics | ||
Economic Entepreneurship | ||
Advanced Statistics | ||
Economic Development | ||
Principles of Finance | ||
Mathematical Modeling | ||
Total Hours | 41-42 |
Honors in Economics
Students must have a GPA of 3.7 or higher by the end of their junior year after completing at least 75 credits in their study toward a BA in Economics, all lower division courses in the major, and a total of 20 upper division credits toward their major. Those who are qualified to pursue an Honors Degree in Economics will take 8 credits: ECON 445 and ECON 497 , Honors Thesis.
Minor in Economics
20 credits minimum in Business Administration and Economics, 16 credits upper division.
BUS 251 | Principles of Accounting | 4 |
ECON 311 | Statistical Methods | 4 |
Additional Upper Division ECON credits | 12 | |
Total Hours | 20 |
Required Supporting Course
ECON 203/203L | General Economics and General Economics Lab | 5 |
Total Hours | 5 |
Courses
Lower Division
ECON 200. Introduction to Micro-Economics. (3).
The study of principles of economics on the firm
level, including resource pricing and allocation,
market structures, supply and demand. (offered
one semester each year).
ECON 201. Introduction to MacRo Economics. (3).
The study of principles of economics on the
national level, including the role of government
and business, national income, employment, and
monetary and fiscal policy.
ECON 203. General Economics. (5).
Provides a basic understanding of how economic
decisions are made by individual economic agents
("micro") and within the context of large
("macro") economic systems. The course is
comprised of three major sections: basic economic
concepts, micro-economics and macro-economics.
ECON 203L. General Economics Lab. (0).
ECON 206. Economic Systems and Society. (4).
Examines the approaches of capitalist, socialist
and communist societies in the development of
economic systems and the formulation of
governmental economic policies. Emphasis is
placed on the ways in which nations attempt to
use economic forces to achieve such social
objectives as health care, education and social
stability.
ECON 282. Selected Topics. (1-4).
Upper Division
ECON 301. Labor Economics. (3).
The study of the theories of wages and
employment, the history and economics of the
labor movement and the economics of the labor
market, collective bargaining and trade unionism.
Prerequisite: ECON 203.
ECON 311. Statistical Methods. (4).
The basic methods in analysis of central
tendency, dispersion and probability
distributions. Prerequisite: MATH 115 or
equivalent.
ECON 312. Quantitative Analysis in Business. (4).
An introduction to quantitative decision making
from a managerial standpoint, plus the
formulation and solution of decision models under
certainty and uncertainty. Topics include model
building, linear programming, probability,
Bayesean decision theory and simulation.
Prerequisite: ECON 311.
ECON 313. Comparative Ecomic Systems. (4).
A comparative study of the economic goals,
theories of economic organization, institutions
and development processes in individual nations
and the reorganized multinational economic
entities. Prerequisite: ECON 203.
ECON 321. Money and Banking and Capital Markets. (4).
The study of modern monetary theories and the
principles of banking, with special emphasis on
the Federal Reserve System. Prerequisite:
ECON 203.
ECON 341. History of Economic Thought. (4).
A study of economic theories from Aristotle to
modern times. Special attention is given to the
period from Adam Smith's Wealth of Nations to
Keynes' General Theory and to emerging theories
of the management of the economics of
non-democratic societies. Prerequisite: ECON 203.
ECON 406. Intermediate Macro-Economics. (4).
The study of Keynesian economics, concepts and
theories of national income, stability and full
employment, rate of interest and investment,
including macro-economic models. Prerequisite:
ECON 203.
ECON 411. Intermediate Micro-Economics. (4).
A study of the modern theory of price and the
laws of supply and demand. Includes price and
output determination and optimal resource
allocation in different market situations and in
centrally managed versus free-market economies.
Prerequisite: ECON 203.
ECON 414. Economics of the Environment. (4).
Students investigate, in economic terms, various
environmental problems in today's world to
determine the costs and benefits of alternative
approaches to environmental remediation. Also
examines major policy alternatives for
environmental protection. Prerequisite: ECON 203.
ECON 416. International Economics. (4).
Includes theories of international trade and
finance, comparative advantage, foreign exchange,
capital movements and the impact of international
currency speculation on economic performance.
Prerequisite: ECON 203.
ECON 420. Economic Entepreneurship. (4).
A study of the entrepreneurial approach to
business development that covers venture
initiation and management. Consideration is given
to concept development and marketing for business
plan formulation. Recommended prerequisites:
BUS 252, junior standing.
ECON 421. Advanced Statistics. (4).
Decision making using estimation techniques and
tests of hypotheses and the use of advanced
statistical techniques in solving problems of
prediction. Prerequisite: ECON 312.
ECON 445. Research Methods - Capstone. (4).
Focuses on the application of scientific research
methods to problems in marketing, management and
business economics. Topics include research
design and methods, sample size and sampling
techniques, questionnaire design and data
analysis and interpretation.
ECON 450. Econometrics. (4).
Econometrics is concerned with how to learn from
economic data. Econometric techniques are
increasingly used in business, government and
academic setting to analyze markets, create
forecasts based on past data, study the impact of
economic policies, and test economic theories.
The objective of this course is to provide the
necessary tools to critically evaluate
econometric models and to prepare students for
empirical work in economics. The course will
focus in some details on the linear regression
model and the statistical theory behind it.
Students will be provided with the opportunity to
use actual economic data. Prerequisite: ECON 311.
ECON 460. Economic Development. (4).
A study of the theory and application of economic
development to Third World countries.
Consideration is given to the effect of the
policies of major multinational economic
institutions on developing economies.
Prerequisite: ECON 203.
ECON 482. Selected Topics. (1-4).
ECON 490. Independent Study. (1-4).
ECON 492. Internship. (1-4).
ECON 497. Honors Thesis. (4).