Economics
Major Advisor: Travis Wiseman, Ph. D.
Office: 210 McCool Hall
Economics is the scientific study of how people and institutions make choices concerning the use of society’s scarce resources. It is a broad social science that shares common interests with both the behavioral sciences (e.g. sociology and psychology) and the decision sciences (e.g. finance and management). The importance of economic analysis is recognized by being the only social science in which a Nobel Prize is awarded. Economics students receive training in the methods and uses of economic analysis as applied to households, businesses, and governments.
The study of economics offers students many career options. Economics majors are found pursuing careers in industry, trade, finance, law, government, and education. An economics major or minor also helps prepare the student for graduate professional training in business, public administration, and law. The flexibility of the economics major is reflected in relatively high starting salaries and lifetime earnings of economists. Undergraduates at Mississippi State may pursue an economics major through either the College of Arts & Sciences (B.A. degree) as described below or through the College of Business and Industry (B.B.A. degree). The business program in economics is described later in this Bulletin.
Economics Major
Students seeking the B.A. with a major in economics are required to complete all College of Arts & Sciences core and University general education requirements. Majors must also complete the program of study on this page, including 12 hours of advanced electives. Elective courses should be chosen with the advisor’s approval and used to enhance the student’s overall program. Although not required, economics majors may elect to pursue a minor in another discipline with the advisor’s approval. Only grades of C or higher will be accepted for EC courses that are counted toward the major.
Economics Minor
A minor in economics is attained by selecting, in consultation with the economics minor advisor, at least 15 hours of economics course work. Three hours of courses from finance (FIN) or agricultural economics (AEC) may be applied to the economics minor with approval from the advisor. All economics minors must register with the economics minor advisor in the Department of Finance and Economics, 312 McCool Hall. Students with majors in business, engineering, agriculture, the social sciences, mathematics, and pre-law are especially encouraged to consider the economics minor. Only grades of C or higher will be accepted for courses to counted toward the minor.
Advising and Honors Organization
Academic advising and career counseling are available from the economics faculty for both majors and minors. Students interested in the study of economics should contact the Department of Finance and Economics, 312 McCool Hall. Any student who completes 12 credit hours of economics with at least a 3.0 GPA and has an overall GPA of 3.0 or higher is eligible for membership in Omicron Delta Epsilon, the international honor society in economics.
General Education and College Requirements
| English Composition | ||
| EN 1103 | English Composition I | 3 |
| or EN 1163 | Accelerated Composition I | |
| EN 1113 | English Composition II | 3 |
| or EN 1173 | Accelerated Composition II | |
| Foreign Language | ||
| 3 semesters - one Foreign Language (see advisor) | 9 | |
| Humanities | ||
| Literature - see General Education courses | 3 | |
| History - see General Education courses | 3 | |
| Humanities Elective 1 | 9 | |
| Philosophy Elective - see General Education courses | 3 | |
| Math | ||
| MA 1613 | Calculus for Business and Life Sciences I | 3 |
| ST 2113 | Introduction to Statistics | 3 |
| Fine Arts | ||
| See A&S Core Requirements | 3 | |
| Natural Sciences | ||
| Physical Science w/Lab 2 | 3-4 | |
| Biological Science w/Lab 3 | 3-4 | |
| Natural Science Elective 4 | 3-4 | |
| Social Sciences 5 | ||
| Met in major requirement | 3 | |
| PS 1113 | American Government | 3 |
| AN 1103 | Introduction to Anthropology | 3 |
| PSY 1013 | General Psychology | 3 |
| PS 1513 | Comparative Government | 3 |
| SO 1003 | Introduction to Sociology | 3 |
| Major Core | ||
| EC 2113 | Principles of Macroeconomics | 3 |
| EC 2123 | Principles of Microeconomics | 3 |
| EC 3113 | Intermediate Macroeconomics | 3 |
| EC 3123 | Intermediate Microeconomics | 3 |
| EC 4643 | Economic Forecasting and Analysis | 3 |
| EC Upper Division Electives | 12 | |
| Oral Communication Requirement | ||
| CO 1003 | Fundamentals of Public Speaking | 3 |
| Writing Requirement | ||
| EC 3113 | Intermediate Macroeconomics | 3 |
| EC 4643 | Economic Forecasting and Analysis | 3 |
| Computer Literacy | ||
| BIS 1012 | Introduction to Business Information Systems | 2 |
| or TKT 1273 | Computer Applications | |
| General Electives | ||
| General Electives - See advisor | 20 | |
| Total Hours | 124 | |
(31 hours must be A&S 3000/4000 work)
| 1 | Must be selected from 2 different areas. Not required to be selected from core listing; may have to be taken at Upper Division level to meet 32 hours A&S UD requirement. |
| 2 | CH, GG, or PH; see General Education courses. |
| 3 | BIO, EPP, or PO; see General Education courses. |
| 4 | Consult advisor. |
| 5 | Must be from 2 different areas and must cross 4 disciplines over the 18 hours. Only one Economics allowed. See advisor. |
Courses
EC 1001 First Year Seminar: 1 hour.
One hour lecture. First-year seminars explore a diverse arrary of topics that provide students with an opportunity to learn about a specific discipline from skilled faculty members
EC 1033 Economics of Social Issues: 3 hours.
Three hours lecture. Basic economic principles introduced and developed through the study of important social issues such as unemployment, health care, poverty, crime, pollution, inflation, and government debt. (Not open to students with prior credit in Principles of Economics)
EC 2113 Principles of Macroeconomics: 3 hours.
(Prerequisite: Sophomore standing.) Three hours lecture. Introduction to macroeconomics: free enterprise principles, policies, institutions; national income, employment, output, inflation, money, credit, business cycles, and government finances
EC 2123 Principles of Microeconomics: 3 hours.
(Prerequisite: Sophomore standing.) Three hours lecture. Introduction to microeconomics: emphasizes American industrial structure, demand and supply, pricing and output, income distribution, factor pricing, international trade
EC 2990 Special Topics in Economics: 1-9 hours.
Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)
EC 3113 Intermediate Macroeconomics: 3 hours.
(Prerequisites: EC 2113 and EC 2123). Measurement and determination of national income, employment, and output; economic significance of consumption, saving, investment, foreign trade, money and prices, fiscal and monetary policy
EC 3123 Intermediate Microeconomics: 3 hours.
(Prerequisites: EC 2113 and EC 2123). Theory and application of microeconomics; demand, supply, optimal consumer choice, production, cost, profit-maximizing pricing and output decisions, employment of resources, externalities, efficiency and welfare
EC 3333 Managerial Economics: 3 hours.
(Prerequisites: EC 2113 and EC 2123). Three hours lecture. The application and use of economic models in analyzing and solving selected problems of the firm such as product pricing, product mix, demand forecasting, market analysis
EC 3423 Economics of Regulation and Antitrust: 3 hours.
(Perquisites: EC 2113 and EC 2123). Three hours lecture. Examination of the evolution and composition of the economic relationship between government and business in the U.S., focusing on regulation and antitrust
EC 3513 Comparative Economic Policy: 3 hours.
(Perquisites: EC 2113 and EC 2123 or consent of instructor). Three hours lecture. Comparative analysis of major government policies, economic structure, institutions around the world, emphasis on the organization o production and distribution of good and resources
EC 4000 Directed Individual Study in Economics: 1-6 hours.
Hours and credits to be arranged
EC 4043 Survey of Economics: 3 hours.
(Prerequisite: Senior or Graduate standing). Three hours lecture. Introduction to macro and microeconomics, national income accounts, monetary system, macroeconomic policy, international trade, supply and demand, distribution of income, markets, pricing,and output. (Not open to BACC or BBA Business majors )
EC 4183 U.S. Economic History: 3 hours.
(Prerequisite: Completion of any 1000-level history course). Three hours lecture. An intensive study of economic change in the United States and its impact on political and social development. (Same as HI 4183/6183)
EC 4213 Personnel Economics: 3 hours.
(Prerequisites: EC 2113 and EC 2123). Three hours lecture. Economic analysis of human resource issues within business organizations. Theoretical examination of hiring standards, productivity, compensation schemes, training, teamwork, incentives, benefits, worker empowerment, and evaluation
EC 4223 Labor Law and Employment Policy: 3 hours.
(Prerequisites: Three hours credit of economics or consent of instructor). Three hours lecture. Examination of the legal and regulatory environment of the employment relation- ship in today's American economy; including, unionization, equal employment opportunity, occupational health and safety
EC 4233 Labor Economics: 3 hours.
(Perquisites: EC 2113, EC 2123, and EC 3123). Three hours lecture. Labor Market behavior of households and firms. Emphasizes wage determination, optimal employment decision, income distributions, unionization, human capital, and discrimination
EC 4303 International Economic Development: 3 hours.
(Perquisites: EC 2113 and EC 2123). Three hours lecture. An analysis of problems facing developing economies and polices designed to promote economic growth with an emphasis on income distribution, trade, agriculture, industry, and technology
EC 4323 International Economics: 3 hours.
(Prerequisite: EC 2113 and EC 2123).Three hours lecture. The nature of international trade.International theory. Economic analysis of the movement of goods,resources, and financial assets across national borders
EC 4423 Public Finance: 3 hours.
(Perquisites: EC 2113,EC 2123 and EC 3123). Three hours lecture. Economics of the public sector. Analysis of government’s influence on distribution, allocation, and stabilization functions. Emphasis on public goods, externalities, social insurance, and taxation
EC 4433 State and Local Finance: 3 hours.
(Perquisites: EC 2113 and EC 2123). Three hours lecture. Fiscal and economic effects of state and local budgets; alternative tax and expenditure models; fiscal administration and budgeting with emphasis on local economic development
EC 4443 Economics of Education: 3 hours.
(Prerequisites: EC 2123 or instructor consent). Three hours lecture. Examines provision of education using economic theory. Topics include research methods, education production functions, school finance, labor market outcomes, economic growth, teacher quality, school accountability, equity, and access to higher education
EC 4523 History of Economic Thought: 3 hours.
(Prerequisites: EC 2113 and EC 2123 or consent of instructor). Three hours lecture. Survey of economic ideas from Ancient Greece to present, emphasizing the changing foci and methodologies of economics relative to economic problems perceived at the time
EC 4643 Economic Forecasting and Analysis: 3 hours.
(Prerequisites: EC 2113,EC 2123, and BQA 2113 (or equivalent) or consent of the instructor). Three hours lecture. Forecasting tools and econometric estimation techniques utilizing regression,exponential smoothing, decomposition, frontier analysis, etc. Real-world data, business applications, and model building are emphasized
EC 4713 Industrial Organization: 3 hours.
(Perquisites: EC 2113,EC 2123 and EC 3123). Three hours lecture. Behavior of firms in imperfectly competitive market. Analysis of market structure, strategic interaction, price and non-price competition with emphasis on the implication for public policy
EC 4990 Special Topics in Economics: 1-9 hours.
Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)
EC 6183 U.S. Economic History: 3 hours.
(Prerequisite: Completion of any 1000-level history course). Three hours lecture. An intensive study of economic change in the United States and its impact on political and social development. (Same as HI 4183/6183)
EC 6213 Personnel Economics: 3 hours.
(Prerequisites: EC 2113 and EC 2123). Three hours lecture. Economic analysis of human resource issues within business organizations. Theoretical examination of hiring standards, productivity, compensation schemes, training, teamwork, incentives, benefits, worker empowerment, and evaluation
EC 6223 Labor Law and Employment Policy: 3 hours.
(Prerequisites: Three hours credit of economics or consent of instructor). Three hours lecture. Examination of the legal and regulatory environment of the employment relation- ship in today's American economy; including, unionization, equal employment opportunity, occupational health and safety
EC 6303 International Economic Development: 3 hours.
(Perquisites: EC 2113 and EC 2123). Three hours lecture. An analysis of problems facing developing economies and polices designed to promote economic growth with an emphasis on income distribution, trade, agriculture, industry, and technology
EC 6323 International Economics: 3 hours.
(Prerequisite: EC 2113 and EC 2123).Three hours lecture. The nature of international trade.International theory. Economic analysis of the movement of goods,resources, and financial assets across national borders
EC 6423 Public Finance: 3 hours.
(Perquisites: EC 2113,EC 2123 and EC 3123). Three hours lecture. Economics of the public sector. Analysis of government’s influence on distribution, allocation, and stabilization functions. Emphasis on public goods, externalities, social insurance, and taxation
EC 6433 State and Local Finance: 3 hours.
(Perquisites: EC 2113 and EC 2123). Three hours lecture. Fiscal and economic effects of state and local budgets; alternative tax and expenditure models; fiscal administration and budgeting with emphasis on local economic development
EC 6443 Economics of Education: 3 hours.
(Prerequisites: EC 2123 or instructor consent). Three hours lecture. Examines provision of education using economic theory. Topics include research methods, education production functions, school finance, labor market outcomes, economic growth, teacher quality, school accountability, equity, and access to higher education
EC 6523 History of Economic Thought: 3 hours.
(Prerequisites: EC 2113 and EC 2123 or consent of instructor). Three hours lecture. Survey of economic ideas from Ancient Greece to present, emphasizing the changing foci and methodologies of economics relative to economic problems perceived at the time
EC 6643 Economic Forecasting and Analysis: 3 hours.
(Prerequisites: EC 2113,EC 2123, and BQA 2113 (or equivalent) or consent of the instructor). Three hours lecture. Forecasting tools and econometric estimation techniques utilizing regression,exponential smoothing, decomposition, frontier analysis, etc. Real-world data, business applications, and model building are emphasized
EC 6990 Special Topics in Economics: 1-9 hours.
Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)
EC 7000 Directed Individual Study in Economics: 1-6 hours.
Hours and credits to be arranged
EC 8000 Thesis Research/ Thesis in Economics: 1-13 hours.
Hours and credits to be arranged
EC 8063 Foundations of Microeconomic Theory: 3 hours.
(Prerequisite: Graduate standing.) Three hours lecture. Exposition of the theoretical foundations to microeconomic theory: market process, price mechanism, exchange and production, cost and supply, non-market decision making, and the international economy
EC 8103 Economics for Managers: 3 hours.
(Prerequisites: Graduate Standing and FIN 3123 or equivalent). Three hours lecture. Primarily for masters level candidates. Exposition of the fundamental theoretical and analytical tools of economics used by business managers engaged in decision making
EC 8113 Labor Theory and Analysis: 3 hours.
(Prerequisites: Graduate Standing). Three hours lecture. Theoretical and empirical examination of labor market processes and policy; Wage determination, resource allocation, labor mobility, human capital investment, discrimination and income distribution
EC 8123 8123 Mathematics for Economists: 3 hours.
(Prerequisite: Graduate standing.) Three hours lecture. The course covers topics in linear algebra, logic and set theory, topology, real analysis, and optimization theory
EC 8133 Econometrics I: 3 hours.
(Prerequisite: AEC 8413 or consent of instructor). Econometric theory and methods. Topics include the classical linear regression model, maximum likelihood estimation, generalized least squares, and estimation with panel data. equations
EC 8143 Econometrics II: 3 hours.
(Prerequisite: EC 8133). A continuation of EC 8133. Topics include advanced theories of simultaneous equations estimation methods, time series econometrics, and estimation with qualitative and limited dependent variables
EC 8163 Microeconomics I: 3 hours.
(Prerequisite: EC 3123 or EC 8103 or equivalent). Three hours lecture. Survey of demand analysis, production, cost, and supply relationships, analysis of pricing under competitive and noncompetitive conditions, analysis of income distribution with emphasis on input pricing
EC 8173 Macroeconomics I: 3 hours.
(Prerequisites: EC 3113, EC 3123, and one semester of calculus, or consent on instructor). Three hours lecture. Synthesis of short and long run analysis of the macroeconomy with special emphasis on the role of fiscal and monetary policy
EC 8263 Microeconomics II: 3 hours.
(Prerequisite: EC 8163 ). Three hours lecture. An exposition of general equilibrium theory, the theory of welfare economics and the economics of information
EC 8273 Macroeconomics II: 3 hours.
(Prerequisites: EC 8173 or equivalent). Three hours lecture. Examination of the modern macroeconomic synthesis. Studies in dynamic economic growth, rational expectations, monetarism, disequilibrium analysis, and open market economies
EC 8313 Regional Economic Analysis: 3 hours.
(Prerequisities:EC 4313/6313 and EC 8133 or equivalent or consent of instructor). Three hours lecture. Theories and tools. Includes economic base, recursive and simultaneous equation econometric models, input-output analysis, and mixed models
EC 8403 Game Theory: 3 hours.
(Prerequisite: AEC 8163 or EC 8163 or consent of instructor).Three hours lecture. An exploration of how agencies interact strategically. (Same as AEC 8403)
EC 8643 Applied Economic Skills: Advanced Estimation and Diagnostics of Econometric Models: 3 hours.
(Prerequisites: EC 8133 and EC 8143 or consent of the instructor). Advanced econometric tools, diagnostics, and estimation techniques with an emphasis on applied economic model building. Application of econometric theory to real- world problems and issues
EC 8990 Special Topics in Economics: 1-9 hours.
Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)
EC 9000 Dissertation Research/ Dissertation in Economics: 1-13 hours.
Hours and credits to be arranged