Teaching


Current Classes

ECON 332 Public Finance

ECON 462 Environmental and Resource Economics


Office hours

Tuesday 2-5 PM and Thursday 2-4 PM and by appointment.



Student FAQ

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Choosing a major

Why study economics?

Economics major

Economics minor

Post-graduate studies

REM students


If you are considering majoring or minoring in economics, taking a course I am teaching, pursuing graduate school, or have any other questions I can help address, fell free to set up an appointment with me via email: sipict@cwu.edu.

You can find additional useful advice at Prof.Carbaugh's and Prof. Tenerelli's websites. Remember, for advice you are always welcome to contact any economics faculty at CWU.

For another comprehensive resource on all questions relating to economics please visit the American Economic Association's (AEA) Resources for Economists on the Internet site.

 

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Choosing a major


Your choice of a college major is likely to be one of the most important decisions you will make during your college education and will certainly have significant implications for your professional career. When making this choice you should considering the following:

  • Which subject(s) do you find interesting and actually enjoy learning about?
    • Having a genuine personal interest in studying a particular subject increases your chance of excelling in college and later in your career.

  • What would you like to do after you graduate from college, and is the major you are considering aligned with your career goals?
    • If you can answer this question, you are likely to make an appropriate decision on your choice of major(s). More often than not, this question is hard to answer for most students. You might have limited information on what a particular major actually entails, and even less certainty about the type of job you could get. If you are in this situation, take your time to inform yourself by talking to professors and other students about the major(s) you are considering and potential career prospects. Don't be shy when approaching professors. It is a daily part of their job to discuss such questions with students. Take a class in a field you are considering majoring in. Often this is the best way to familiarize yourself with the subject (to minimize search costs try to take a class that counts towards your general education requirements).
    • Consider the feasibility of attaining the desired career path with your major. Will further post-graduate education be necessary to get there and are you willing to pursue it?
  • What is the impact of your major choice on your future income prospects?
    • College education is a costly investment in human capital. As with any investment, inform yourself about the returns to your investment, then decide on what level of return you are comfortable with. Now, the reality is that finding such information is not an easy task. There are no reliable sources on average earnings by major AND university. So you will have to make your investment decision based on imperfect information. Statistics on earnings by university suggest that a 30-year net return on investment from obtaining a CWU degree is $347,000 in 2010 dollars. National statistics on earnings by major can be found on PayScale degree rankings site).

    You should appropriately weigh the importance of each one of the above factors to you. Since it is inherently subjective, it is impossible to give any meaningful advice on the proper way of assigning these weights.

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    Why study economics?

    Economics is the study of how people choose to use resources under conditions of scarcity. Traditionally this entailed analyzing firm and consumer behavior, and market structures that arise from their interaction. However, with such a broad scope of the field, economists have ventured to study human behavior into areas traditionally inhabited by other social sciences like political science, psychology, sociology, geography, criminology, education, law and international relations.

    Economics major provides students with marketable skills that are in demand by a wide variety of employers within both private and public sectors. Most students fill positions that require strong analytical skills and are commensurately compensated. As a matter of fact, only students pursuing highly technical fields such as engineering, physics and computer science earn more than economics graduates (from PayScale degree rankings). In the first table below you can see that economics majors are quiet competitive in terms of earnings to other business and social science majors. The second table displays the top 10 most popular jobs with economics majors and their respective compensation levels. The third table presents you with information on the types of jobs popular with other business majors. If you are trying to decide between a business or economics major, compare these two tables and see if any of the jobs and earning profiles appeal to you.

    Recent CWU economics graduates have obtained positions with Boeing, Microsoft, Washington State Economic and Revenue Forecast Council, Puget Sound Energy, Federal Reserve Bank of San Francisco, US Bank, Wells Fargo and Weyerhaeuses, among others.

    Some graduates are pursuing graduate education at universities such as the University of Oregon, University of Washington, Oregon State University, University of Wyoming, Washington State University and University of North Dakota.







    Links to more resources on common careers for economists: American Economic Association (AEA), National Association for Business Economics (NABE), Bureau of Labor Statistics (BLS), University of Kansas, University of North Carolina

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    Economics major

    The Economics Department, located in the College of Business, offers a Bachelor of Science (BS) degree in economics with three possible specializations: General Economics, Economic and Business Forecasting, and Managerial Economics. For more information please refer to the current and official "Major Programs Advising Worksheets" page.

    The tables below display information on ALL required economics and non-economics courses, as well as ALL elective economics courses, for each specialization. Additional upper-division elective courses may be taken from other College of Business majors.

      General  Forecasting  Managerial
    # of credits per specialization    82-8397-9887-88

    Economics Courses\SpecializationsSpecializations  
    Economics Courses/SpecializationsGeneral  Forecasting  Managerial
    BUS 221 Introductory Business StatisticsR*R*R*
    ECON 102 World Economic IssuesNRNRNR
    ECON 201 Principles of Economics MicroR*R*R*
    ECON 202 Principles of Economics MacroR*R*R*
    ECON 310 International EconomicsRNRE
    ECON 324 Introduction to EconometricsRRE
    ECON 325 Introduction to ForecastingERE
    ECON 330 Money and BankingRNRE
    ECON 332 Public FinanceRNRE
    ECON 340 Development of Economic ThoughtENRE
    ECON 346 Comparative Economic SystemsENRE
    ECON 348 Economic History of the United StatesENRE
    ECON 349 Economic History of AsiaENRE
    ECON 352 Managerial EconomicsENRR
    ECON 355 Economics of LaborENRE
    ECON 356 Government and BusinessENRE
    ECON 401 Intermediate Microeconomic AnalysisRRR
    ECON 402 Intermediate Macroeconomic AnalysisRRR
    ECON 406 Economics AssessmentRRR
    ECON 426 Economic ResearchRRE
    ECON 462 Economics of Energy, Resources, and EnvironmentENRE
        
    Minimum # of elective ECONOMICS classes per specialization    203
    R - Required, NR - Not required, E - Elective  
    * - Pre-Admission

    Economics Courses\SpecializationsSpecializations  
    Non-Economics Courses/SpecializationsGeneralForecastingManagerial
    ACCT 251 Accounting INRR*R*
    ACCT 252 Accounting IINRR*R*
    BUS 241 Legal Environment of BusinessNRR*R*
    MATH 153 or 154 or 170 or 172 or 173 - Precalc through Calc IIR*R*R*
    MATH 130 - Finite MathR*R*R*
    FIN 370 Introductory Financial ManagementERR
    ADMG 385 or COM 345 or ENG 310 - Communications classesRRR
    MIS 386 Management Information SystemsRRE
    MGT 382 Principles of ManagementERE
    MKT 362 Essential Marketing ConceptsERE
    SCM 310 Supply Chain ManagementERE
        
    Maximum # of elective Non-ECONOMICS classes per specialization101
    R - Required, NR - Not required, E - Elective   
    * - Pre-Admission


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    Economics minor

    All students wishing to minor in economics are required to take:

    • ECON 201 Principles of Economics Micro
    • ECON 202 Principles of Economics Macro

    In addition, students have to choose one of the following five courses:

    • ECON 310 International Economics
    • ECON 330 Money and Banking
    • ECON 332 Public Finance
    • ECON 401 Intermediate Microeconomic Analysis
    • ECON 402 Intermediate Macroeconomic Analysis

    Finally, business administration and accounting majors have to take 10 additional upper-division economics credits to receive the minor. All other majors have to take 5 additional upper-division economics credits to receive the minor.



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    Post-graduate studies

    Economics majors are qualified to pursue a wide array of post-graduate education opportunities including:

  • Masters and PhD degrees in Economics
    • Additional courses in mathematics and statistics, beyond what is necessary for an economics undergraduate degree, are often required for admission.
    • For a PhD you should at minimum take MATH 172 Calculus I, MATH 173 Calculus II, MATH 272 Multivariate Calculus I and MATH 265 Liner Algebra I. You are advised to take additional proofs based (analysis and topology) and differential equations courses.
    • Graduate school in economics is most often paid for by graduate assistantships (teaching and/or research)
    • List of all the economics graduate degree granting institutions in the US and rankings by fields of expertise
    • Description of the application process, what graduate school entails, and other useful advice
    • Advice on getting a graduate degree in economics from faculty at other universities: Portland State, Davidson, Harvard, John Hopkins, Stanford and Virginia Tech
    • PhD admissions forum
  • Law school
    • Economics majors average 157.4 points on LSAT, putting economics among the top scoring majors
    • Analytical methods used in economic analysis develop the critical thinking and reasoning skills necessary for success in law school and legal career
  • Masters of Business Administration (MBA)
    • MBA programs highly value applicants with technical backgrounds, which includes economics majors. Here is a sample of MBA student profiles from several prominent programs showing the usefulness of economics degree for admissions and success in MBA: Chicago, Michigan, University of Washington and University of Virginia
    • Admission to MBA programs often requires several years of full time work experience
  • Masters and PhD in Finance, Accounting, Management and Marketing
    • Pursuing graduate education in business involves a surprising amount of economics and some prior training in economics is often required.
    • Quantitative methods we teach in econometrics courses are prerequisite knowledge for pursuing applied business research.
  • Masters and PhD in Public Policy and Administration
    • Description of Masters of Public Policy (MPP) and Masters of Public Administration (MPA) degrees
  • Masters and PhD in Political Science, Sociology, Environmental Studies and other interdisciplinary social science fields
    • Economics major is a great complement to other social science majors and minors. It is distinguished by its focus on quantitative analysis that can be applied to any social science related questions
    • Students interested in environmental economics are encouraged to explore the interdisciplinary Masters of Science in Resources Management (REM) program at CWU


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    REM students

    I am Program Faculty in the Resource Management Program (REM). I currently teach the required ECON 462 Economics of Energy, Resources, and Environment course. Principles of Microeconomics is a prerequisite for this course. If you have not taken an introductory microeconomics course, and you are comfortable with your microeconomics skills, you can test out of this requirement. See this document for more detail.

     
    Shaw-Smyser 424, 400 E. University Way, Ellensburg, WA 98926-7486 | p:(509) 963-2605 | f:(509) 963-1992 | sipict@cwu.edu