Department of Economics

Grise Hall, Room 432
Phone: (270) 745-2249
Economics Fax: (270) 745-3190
Economics e-mail: ECON@wku.edu
Website: http://www.wku.edu/gfcb/economics

Dr. Michelle Trawick, Chair

Professors: M. Borland, M. Carey, B. Goff, R. Howsen, Y. Kim, S. Lile, T. Noser, R. Pulsinelli
Associate Professors: A. Lebedinsky, D. Myers, B. Strow, C. Strow, M. Trawick, D. Wilson,
Assistant Professor: D. Zimmer
Professors Emerti:  R. Cantrell, C. Roberts
Optional Retiree:  B. Davis

Mission Statement
The primary mission of the economics program is to offer educational opportunities to students in order to prepare them to become accomplished citizens and professionals capable of critical thinking and independent analysis. The economics faculty places an emphasis on excellence in teaching and continuous professional development in applied, instructional and basic research. The department also recognizes the importance of conducting professionally relevant service activities for the university, the public, and private constituents at the local, state and national levels.

Economics is an integral part of a well-rounded liberal arts education because the study of economics provides an antecedent to ethical judgments, to the assessment of the full range of both past and present public policies, and to an understanding of other economies and cultures. Economics is a versatile, multifaceted subject which includes global dimensions that are of increasing importance in today’s diverse society.

The program also recognizes the importance of economic science in the preparation of a wide variety of professionals including those in business, law, journalism, banking, government, and academia. The faculty also acknowledges the importance of communication and technical skills in the development of well-rounded students. Economics courses require the application of the appropriate verbal and writing skills which are crucial complements to analytical skills. The economics curriculum and course offerings are designed to highlight and illustrate the practical importance of a knowledge of economics in understanding today’s local, national and global issues.

Economics
Economics is a discipline concerned with how society chooses to allocate scarce resources among alternative uses in order to produce and distribute private and public goods.

The programs and course offerings are designed to provide a basic understanding of economic concepts, institutions, processes, and problems; to foster critical and analytical methods of thinking; and to lay the foundation for further study of economics.

Each year, the economics program awards the N.O. Taff and the Kenneth T. & Maria Cann Scholarships. The recipients must be economics majors and selection is made on the basis of academic performance. Faculty also select a graduating senior economics or business economics major whose outstanding performance merits the prestigious Wall Street Journal Award.  Additionally, economics majors participate in the “Best Papers in Applied Economics” competition for annual awards.

When planning a program of study in this department, each student should be aware of the University’s academic requirements and regulations contained in this catalog in the chapter “Academic Information.” Specific attention should be given to the subsections in the chapter entitled (a) Academic Programs, (b) General Education Requirements, and (c) Academic Requirements and Regulations. Students should be aware that some academic programs may require additional scholastic regulations and standards not specified in the catalog. To obtain a copy of these regulations, students should contact the department head.

Major in Economics
The major in economics (reference number 638) requires a total of 120 credit hours of course work with 31 hours in economics and leads to a Bachelor of Arts degree. The program requires completion of a second major or a minor. All majors must complete a 16 hour core composed of ECON 202, 203, 206, 302, 303, and 499. Either MATH 116, MATH 119 or ECON 464 must be completed. The remaining 15 hours for completing the major may be selected from other 300 and 400 level economics courses. In addition, students must complete CIS 141, MATH 116 (or higher), and COMM 161, all of which may be applied toward general education requirements. A sample schedule follows.

Admission to the economics major requires 1) the completion of MATH 116 (or higher), ECON 202, 203, and 206 and CIS 141 with a minimum GPA of 2.0 in the courses listed; and (2) completion of a minimum of 60 semester hours with a minimum GPA of 2.0; and (3) completion of a minimum of 12 hours at Western Kentucky University with a minimum WKU GPA of 2.0. All economics majors will be required to participate in an assessment process prior to graduation (ECON 499, 1 hour).

Suggested Program of Study

Major in Business Economics
The major in business economics (reference number 724) requires 73 hours in professional and elective courses and leads to a Bachelor of Science degree. The program of study requires 120 hours. Business economics majors must complete the Gordon Ford College of Business core consisting of ACCT 200, 201, CIS 141, ECON 202, 203, 206, COMM 161, FIN 330, MGT 200, 210, 314, 498, and MKT 220. Required courses in economics include: ECON 302, 303, 306 or 307, 414, 499; and either ECON 465 or ECON 480; fifteen hours of economics courses; and an approved 3-hour upper-division business elective. Either MATH 116, MATH 119 or ECON 464 must be completed. No minor or second major is required.

Business economics majors should refer to the Ford College of Business introductory section for sample course schedules for the freshman and sophomore years. That section also outlines the requirements for being formally admitted to the Gordon Ford College of Business, a condition which students must satisfy before they will be permitted to enroll in 300-level and 400-level professional courses. All economics majors will be required to participate in an assessment process prior to graduation (ECON 499, 1 hour).

Suggested Program of Study

Minor in Economics
The minor in economics (reference number 356) requires 21 semester hours. All minors must complete a 15-hour core composed of ECON 202, 203, 206, 302, and 303. The remaining 6 hours for completing the minor must be selected from other 300 and 400 level economics courses. All minors must also complete MATH 116 or higher. The remainder of the program depends on what other major or minor is pursued.

Graduate Program
The Economics Department offers a one-year graduate program leading to a Masters of Applied Economics (ref. #0410).  The program is designed to prepare students for private and public sector employment requiring analytical and communication skills sufficient for independent investigation and report writing.  There are opportunities for interdisciplinary study and internships.  Graduate assistantships are available.  Consult the Economics Department web page for details.