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2021-2022 Undergraduate Catalog [ARCHIVED CATALOG]
Economics, B.S. (R, A)
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Economics is the study of how people manage limited (scarce) resources. All kinds of resources are scarce: money, time, natural resources, energy, land, etc. There are not enough resources to produce everything we desire, so we must make choices about how to use what little resources we have. In the end, sacrifices must be made. Economists study individual decision-making behavior, as well as the system of social, political, cultural and commercial environments where these decisions happen. A major in economics prepares students for a diversity of career opportunities. Economics majors are competitive for jobs in business and industry, local, regional, national, or international government agencies and social service institutions in both the public and private sectors. The economics major also is a good foundation for graduate training in business (MBA or Ph.D.), economics (M.A., M.S. or Ph.D.), public administration, law, and related areas. This major focuses on the social science of Economics, with particular emphasis on critical thinking, analytical thinking, scientific reasoning, problem-solving, argument formation and policy analysis.
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REAL Curriculum
This major fulfills the R and A areas of the REAL Curriculum. Students develop scientific and quantitative reasoning by applying statistical and mathematical tools to assist decision makers in solving economic problems. Students also use logical reasoning, deduction and empirical analysis to form, test and evaluate hypotheses about economic behavior. Students develop cultural and behavioral analysis competencies by examining the interaction of cultures and behaviors within the domestic and global economic environment. Students analyze individual and group decision-making in organizations/governments/communities, describe how parts of an economy function together, and break complex economic issues into parts for analysis. Students need majors and/or minors to fulfill the E and L areas to complete the REAL Curriculum requirements.
REAL Foundational Requirements
Foundational Writing (3 credits)
Foundational Math (3 credits)
REAL Cornerstone Requirements
Writing Intensive (WI) Courses (6 credits)
Writing Intensive courses are denoted below with a (WI). Two writing intensive courses are required to graduate, with at least one at the 300- or 400-level.
General Education Requirements
General Education courses will be denoted below with a (GE). Students are required to take at least 30 credit hours of general education designated courses within their degree requirements. The Bachelor of Science in Economics program includes 18-19 general education credits.
Major Requirements (54-57 credits)
B.S. Requirements (6-8 credits)
BS Requirements (6-8 credit hours): Students must take 6-8 credits of courses outside the College of Business and Economics. These courses must come from Mathematics, Statistics, Philosophy, History, Political Science, Information Technology, Physics, Foreign Language, Sociology, Social Work, Psychology or Geospatial Science.
Required Coursework (24 credits)
Math Elective (3-4 credits)
Choose one of the following:
Innovation Elective (3 credits):
Choose one of the following:
Economics Electives (18 credits)
Students must take 18 additional credits in ECON not used above. At least 6 credit hours of elective coursework must be taken at the 300-400 level. Elective courses must be taken as follows:
Microeconomics (3 credits)
One of the following (not used above):
Macroeconomics (3 credits)
One of the following (not used above):
Additional Economics Electives (12 credits)
Any 12 additional credits in Economics (not used above).
Degree Completion Concentration
This concentration is intended for students who (1) have completed an eligible transferable Associate’s Degree (does not include Applied Science degree) or are within 6 hours of completing their general education requirements, or (2) wish to be readmitted to Radford University who are within 6 hours of completing their general education requirements. This concentration is only available for transfer and readmitted students who are unable to complete a degree on campus. All courses will be available in an online format. All requirements for Economics majors pursuing the online degree completion concentration in the B.S. in Economics are outlined below.
Students must complete the B.S. Requirements (6-8), Required Coursework (24 credits) and Math Elective (3-4 credits) that are listed above for the B.S. Degree in Economics.
Economics Electives (18 credits)
Students will take any six elective courses (18 credits) with an ECON prefix at the 200-300-400 level.
Additional Degree Requirements
Students must have at least a 2.25 GPA in in-major coursework (includes everything under Major Requirements except the BS Requirements) to graduate with a B.S. degree in Economics.
Open Credit Hours (66-69 credits)
These credits can be used to fulfill additional courses, majors, minors, and/or REAL Curriculum requirements, including Foundational Writing and Foundational Math.
Total Credits Needed for Degree 120
Additional Information
Bachelor of Science in Economics Probation Policy
Upon entry to the major, B.S. students are required to maintain a Grade Point Average (GPA) no lower than 2.25 in their college major, as defined by the Catalog. If a student’s GPA falls below 2.25 in his or her college major, that student will have one semester plus wintermester (if student is on probation for the fall semester) or the summer terms (if student is on probation for the spring term) to raise his or her GPA to the minimum level. Failure to achieve the minimum level GPA in one semester plus the summer or wintermester term will result in removal from the Bachelor of Science in Economics degree program.
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