2021-2022 General Catalog [ARCHIVED CATALOG]
Department of Economics
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For information regarding the GRADUATE PROGRAM, click here.
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.
The Department of Economics is committed to excellence in teaching and research. Our goal is to provide students with analytic skills and a breadth of economic understanding that prepares them for careers in business, government, or for further study in economics, law, or public policy. Our faculty are frequently honored with teaching awards, regularly publish in prestigious professional journals, and several serve as editors of professional journals.
Economics is the study of how people make choices. It examines these choices and provides a way of understanding how to make the best use of natural resources, machinery and work efforts.
Through economics, the trade-offs between various goals and the anticipation of event outcomes are made more feasible. Training received in the undergraduate program enables one to analyze complex economic problems, think critically about a variety of issues, learn beyond the confines of the classroom, and be adaptable to the ever-changing demands of the workplace.
What is International Trade & Finance?
International Trade & Finance is a specialized course of study of the international dimensions of 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.
Opportunities in Economics and International Trade & 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 & 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
Concentrations in Economics and International Trade & Finance:
Empirical economic analysis is available to BS and BA majors in economics and international trade & finance majors. The concentration provides majors with skills in analyzing business and economic data to solve real world problems. See curriculum page for details.
Refer to the E. J. Ourso College section for admission requirements.
ProgramsMajor
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