Economics examines why and how people produce, consume, and trade goods and services. It also examines the rationale for government intervention in markets, how governments intervene, and the effects of government intervention.
The economics major provides preparation in theoretical and applied economics. The program is based on a comprehensive core of economic theory—two courses in the principles of economics and two intermediate courses. Students broaden and add to their knowledge of economics by taking four economics electives. Students are also required to take classes in mathematics and a class in statistics to enhance the skills used in economic analysis. Opportunities exist for more intensive preparation in quantitative techniques. Students may also extend their knowledge through a senior thesis, individual studies, or internships.
The major in economics is grounded in liberal studies. The faculty believes strongly that economics students should have a thorough background in liberal arts. Students are encouraged to acquire knowledge of other areas and develop skills to complement their studies in economics. Double majors are often possible.
Many of Capital’s economics majors go on to graduate school in economics, law or business. An economics major also provides a good background for a career in government or business upon graduation from Capital. Students who plan to go to graduate school, or who would like to develop their quantitative abilities, should take MATH 215 and MATH 230. Taking additional courses beyond MATH 215 and MATH 230 is highly recommended. (Many economic majors choose to add a mathematics minor or major.) Students may satisfy the mathematics and statistics requirements for economics by taking MATH 221, but this is definitely not recommended for students who plan to attend graduate school.