Department of Economics
Important Note: This is the archived version of the 2013–2015 Undergraduate Catalog. The information on these pages was archived on August 6, 2013 and will not be updated as requirement and/or program changes are approved. Please see www.uic.edu/ucat for the most up-to-date requirements.
Minor in Economics
Minor in Human Capital and Labor Markets
Distinction
725 University Hall (UH)
(312) 996–2683
uicecon@web.econ.uic.edu
http://www.uic.edu/depts/econ/
Head of Department, Steve Rivkin, sgrivkin@uic.edu
Director of Undergraduate Studies, Evelyn Lehrer, elehrer@uic.edu
The Department of Economics offers a Bachelor of Arts degree with a major in Economics. The program provides instruction on economic institutions and a rigorous foundation in the analytical tools and applied areas of economics, relying on mathematical and statistical techniques. Students learn how the price system operates; how consumers, firms, and government institutions allocate scarce resources; and the determinants of national output, inflation, unemployment, economic growth, and international trade. Laws, regulations, and institutions that influence economic activity are also studied. After learning the basic tools of microeconomics and macroeconomics in the introductory courses, students go on to study various applied areas of economics in the more advanced courses.
The program provides a strong grounding for many careers in banking, insurance, service and manufacturing firms, labor unions, business associations, government agencies, and not-for-profit organizations. It also gives an excellent background to students who intend to continue their education. In particular, it provides a solid preparation for law school, an MBA program, and graduate studies in economics, business, public administration, and public policy.
In cooperation with the Department of Hispanic and Italian Studies, the Department of Economics also offers instruction leading to the Bachelor of Arts in Spanish-Economics degree. See the appropriate section under the Department of Hispanic and Italian Studies for information regarding this program.
Students are encouraged to contact the director of undergraduate studies of the economics department for further information on the field of economics and career options for economics majors.
To earn a Bachelor of Arts in Liberal Arts and Sciences degree from UIC, students must complete University, college, and department degree requirements. The Department of Economics degree requirements are outlined below. Students should consult the College of Liberal Arts and Sciences section for additional degree requirements and college academic policies.
| BA with a Major in Economics Degree Requirements | Hours |
| Required Prerequisite and Collateral Course | 5 |
| Major Requirements | 37 |
| General Education and Electives to reach Minimum Total Hours | 78 |
| Minimum Total Hours—BA with a Major in Economics | 120 |
General Education
See General Education and Writing-in-the-Discipline in the College of Liberal Arts and Sciences section for information on meeting these requirements.
Required Prerequisite and Collateral Course
| Course | Hours |
| MATH 121-Precalculus Mathematicsa | 5 |
| Total Hours—Required Prerequisite and Collateral Course | 5 |
a MATH 121 fulfills the LAS Quantitative Reasoning Requirement.
Students are encouraged to complete MATH 121 as early as possible since many sophomore and junior courses require knowledge of the content of this course. This requirement is waived for students who have completed a course in Calculus or who place into Calculus upon admission to UIC.
Students who plan to go on to graduate school in a program that emphasizes quantitative skills are strongly encouraged to take additional mathematics courses, including MATH 180, 181, 210, and 310. MATH 180 may be taken in place of the required ECON 345.
Major Requirements
| Courses | Hours |
| ECON 120—Principles of Microeconomicsab | 3 |
| ECON 121—Principles of Macroeconomicsab | 3 |
| ECON 220—Microeconomics: Theory and Business Applications | 3 |
| ECON 221—Macroeconomics in the World Economy: Theory and Applications | 3 |
| ECON 270—Statistics for Economics | 4 |
| ECON 345—Introduction to Mathematical Microeconomics | 3 |
| One of the following courses: | 3 |
| ECON 300—Econometrics (3) | |
| ECON 400—Honors Econometrics (3) | |
| ECON 395—Research and Writing in Economicsc | 0 |
| Five additional economics courses at the
200-, 300- or 400-level, excluding ECON 441 and 442; at least three must be at the 300- or 400-level. |
15 |
| Total Hours—Major Requirements | 37 |
a This course is approved for the Understanding the Individual and Society General Education category.
b This course is approved for the Understanding U.S. Society General Education category.
c ECON 395 fulfills the Writing-in-the-Discipline requirement.
Course Suggestions for Economics Careers
Students may choose any 200-, 300- or 400-level courses for the 15 hours in advanced economics requirement. The following groups of courses are offered as guidance to students who may have an interest in one of the career/educational paths shown below.
Business/Financial Economics
Courses
ECON 322—Managerial Economics
ECON 323—Business Conditions Analysis
ECON 329—Industrial Organization
ECON 333—International Economics
ECON 339—Monetary Theory
ECON 450—Business Forecasting Using Time-Series Methods
Human Resources
Courses
ECON 214—Economics of Education
ECON 215 —Health Economics
ECON 331—Labor Economics
ECON 334—Economic Development
ECON 353—Economic Demography
Urban Economics/Real Estate
Courses
ECON 331—Labor Economics
ECON 332—Urban Economics
ECON 342—Regional Economics
ECON 371—Introduction to Urban Real Estate
ECON 370—Environmental Economics
ECON 472—Real Estate Finance
International Studies
Courses
ECON 323—Business Conditions Analysis
ECON 333—International Economics
ECON 334—Economic Development
ECON 339—Monetary Theory
ECON 353—Economic Demography
Pre-Graduate School in Economics/Business/Public Policy/Public Administration
Courses
ECON 213—Economic History of the United States
ECON 322—Managerial Economics
ECON 323—Business Conditions Analysis
ECON 326—History of Economic Thought
ECON 328—Public Finance
ECON 329—Industrial Organization
ECON 331—Labor Economics
ECON 332—Urban Economics
ECON 333—International Economics
ECON 334—Economic Development
ECON 436—Mathematical Economics
NOTE: Students who plan to pursue graduate studies in economics should take additional mathematics courses. Please consult the director of undergraduate studies for guidance.
Careers in Law
Courses
ECON 212—Law and Economics
ECON 213—Economic History of the United States
ECON 215—Health Economics
ECON 328—Public Finance
ECON 329—Industrial Organization
ECON 330—Government and Business
ECON 331—Labor Economics
To view a recommended plan of study for the major in Economics, please visit the LAS website
http://www.las.uic.edu/students/prospective-undergraduate/degree-programs/four-year-model-plans.
Students who wish to minor in Economics must complete 18 semester hours as outlined below:
| Required Courses—Economics Minor | Hours |
| ECON 120—Principles of Microeconomics | 3 |
| ECON 121—Principles of Macroeconomics | 3 |
| One of the following courses: | 3 |
| ECON 220—Microeconomics: Theory and Business Applicationsa (3) | |
| ECON 221—Macroeconomics in the World Economy: Theory and Applicationsa (3) |
|
| Three economics courses at the 200-, 300- or 400-level | 9 |
| Total Hours—Economics Minor | 18 |
a Students may take both Econ 220 and Econ 221.
Minor in Human Capital and Labor Markets
The College of Liberal Arts and Sciences offers a Minor in Human Capital and Labor Markets. The minor is an option for undergraduate students who wish to complement their major field of study with knowledge on various aspects of human resources, including investments in education and health, work in the labor market, and economic demography. The minor requires 18 hours as distributed below:
| Required Courses—Human Capital and Labor Markets Minor | Hours |
| ECON 120—Principles of Microeconomics | 3 |
| ECON 220—Microeconomics: Theory and Practice | 3 |
| ECON 331—Labor Economics | 3 |
| Three courses selected from the following: | 9 |
| ECON 214—Economics of Education (3) | |
| ECON 215—Health Economics (3) | |
| ECON 353—Economic Demography (3) | |
| ANTH 214—Sex and Gender in World Cultures (3) | |
| PSCH 210—Theories of Personality (3) | |
| SOC 224—Gender and Society (3) | |
| SOC 225—Racial and Ethnic Groups (3) | |
| SOC 244—Sociology of Work (3) | |
| Total Hours—Human Capital and Labor Markets Minor | 18 |
Note: Students may use courses to fulfill the requirements in both their major and this minor, but the credit hours may only be used in one or the other. For example, a student majoring in Sociology may use SOC 224 for this minor, but would need to take an extra 3-hour 200-level Sociology course towards the Sociology major. Please note that students choosing to take PSCH 210, SOC 224, SOC 225, or SOC 244 must take the corresponding prerequisite course(s).
Departmental Distinction may be awarded if the student meets the following criteria:
Distinction: 3.25/4.00 overall GPA and 3.25/4.00 economics GPA
High Distinction: 3.50/4.00 overall GPA and 3.50/4.00 economics GPA
Highest Distinction: 3.75/4.00 overall GPA and 3.75/4.00 economics GPA, and completion of an honors thesis via registration for one or two sections of ECON 399—Independent Study in Economics under the supervision of a faculty advisor (a minimum of 3 hours and a maximum of 6 hours).
