Economics addresses the problem of using scarce resources to satisfy society’s unlimited wants. The discipline is divided into two general areas: microeconomics and macroeconomics. Microeconomics explores questions about the way society allocates resources; it applies to public policy in such areas as urban, industrial organization, and labor economics. Macroeconomics considers such questions as the causes of inflation and unemployment; it applies to such areas as monetary development and international economics.
Suggested preparation for freshmen is four years of high school mathematics. Prospective majors are strongly urged to satisfy part of their science group requirement with an introductory calculus sequence and the combination of mathematics and computer and information science required for the bachelor of science degree, to be taken in the freshman or sophomore year. Suggested preparation for second-year college transfers is (1) the equivalents of Introduction to Economic Analysis: Microeconomics (EC 201) and Introduction to Economic Analysis: Macroeconomics (EC 202) and (2) the equivalents of either Calculus for Business and Social Science I,II (MATH 241, 242) or Calculus I,II,III (MATH 251, 252, 253) as well as Introduction to Methods of Probability and Statistics (MATH 243). Students considering graduate school are urged to take the complete calculus series: MATH 251, 252, 253, along with the MATH 243 statistics course.
A bachelor’s degree in economics provides an excellent background for careers in federal, state, and local government agencies; private industry; various nonprofit organizations; and journalism. Students also pursue graduate studies in law, business, and public policy. Those with superior undergraduate academic records frequently go on to graduate work in economics, which leads to careers in higher education, economic research organizations in government, and private industry.
Careers in Teaching
Economics majors interested in completing additional course work can also apply for admissions to the elementary or secondary teaching programs in the Department of Education Studies, if they meet the additional requirements of the program. For more information, please see the College of Education Section of the UO catalog or contact the department at firstname.lastname@example.org.