What is Economics?
Alfred Marshall, one of the intellectual giants of Economics, defined economics as “… a study of mankind in the ordinary business of life”. As such, microeconomics provides a framework for analyzing decisions made by individuals and firms, especially decisions concerning the allocation of scarce resources and the implications of those decisions for both the decision-maker and the wider society. Macroeconomics, which uses the foundations provided by microeconomics, focuses on the determinants of economic aggregates like the price level and national output and studies the effects of monetary and fiscal policy on these aggregates.
What is International Trade and Finance?
International Trade & Finance is a specialized course of study of the international dimensions of Economics.
Opportunities in Economics and International Trade and Finance
Areas: Economic Advising and Consulting, Industry and Market Analysis, Forecasting, Research, Teaching
Employers: Financial Institutions, Insurance Companies, Non-Financial Corporations, Government Agencies, Educational Institutions, Trade/Labor Organizations
A 2.0 or better GPA is required in all economics coursework in order to graduate with a major in economics or international trade and finance. This requirement applies both to the total economics coursework taken and to LSU economics coursework.
B.S. in Economics and B.S. in International Trade and Finance
The Bachelor of Science in Economics and the Bachelor of Science in International Trade & Finance are 120-hour degree programs with several learning objectives for students:
- Identify the role of supply and demand in a market economy
- Identify the necessary conditions for market economies to function well
- Discuss market system advantages and pricing
- Understanding of the economic role of government policy and the Federal Reserve
- Define and analyze economic problems using algebraic and statistical methods
- Identify the benefits and costs of a global economy
An empirical economic analysis concentration is available; see curriculum page for details.
Refer to the E. J. Ourso College section for admission requirements.