Department of Economics

Faculty

Distinguished Professor
Kajal Lahiri, Ph.D., University of Rochester

Professors Emeriti
Betty C. Daniel, Ph.D., University of North Carolina
Bruce Dieffenbach, Ph.D., Harvard University
Terrence W. Kinal, Ph.D., University of Minnesota
Kwan Koo Yun, Ph.D., Stanford University
Hamilton Lankford, Ph.D., University of North Carolina, Chapel Hill
Irene Lurie, Ph.D., University of California, Berkeley
Thad W. Mirer, Ph.D., Yale University
Donald J. Reeb, Ph.D. Syracuse University (Collins Fellow)

O’Leary Professor
Michael J. Sattinger, Ph.D., Carnegie Mellon University

Professors
Pinka Chatterji, Ph.D., Johns Hopkins University
Michael Jerison, Ph.D., University of Wisconsin
Laurence J. Kranich, Ph.D., University of Rochester (Department Chair)
Adrian Masters, Ph.D., University of Pennsylvania
Hany A. Shawky, Ph.D., Ohio State University
Baris Yörük, Ph.D., Boston College 

Associate Professors
Diane M. Dewar, Ph.D., University at Albany
Chun-Yu Ho, Ph.D., Boston University
Ulrich Hounyo, Ph.D., University of Montreal
Yue Li, Ph.D., University of Pittsburgh     
Zhongwen Liang, Ph.D., Texas A & M University
Gerald Marschke, Ph.D., University of Chicago
Byoung Gun Park, Ph.D., Yale University
Daiqiang Zhang, Ph.D., Texas A&M University
Rui Zhao, Ph.D., University of Minnesota

Assistant Professors
Cuicui Chen, Ph.D., Harvard University
Benjamin Griffy, Ph.D., University of California, Santa Barbara
Haruka Takayama, Ph.D., University of Virginia

Lecturers
Kenneth Bulko, Ph.D., University at Albany and J.D., Albany Law School (Director of Undergraduate Studies)
Lewis Segal, Ph.D., Northwestern University    

Adjuncts (estimated): 16
Teaching Assistants (estimated): 3

The B.A. in Economics and the B.S. in Quantitative Economics and Data Analysis are useful as training for employment in business, government, and nonprofit agencies and as preparation for further study at the graduate level. They also provide an excellent undergraduate background for study in professional schools of law, accounting, business administration, public administration, public policy, social work, and others.

The B.S. in Business Economics is a combined major and minor program that includes both the economic study of resource allocation and the development of business methods, practices and problem-solving. Students in Business Economics develop abilities in decision-making, policy analysis and deriving and communicating conclusions based on data in areas of business activity and services. The flexible program offers students a range of opportunities to develop their interests in business and economics. Graduates of the Business Economics program work as financial analysts, finance and credit officers for insurance companies and banks, economic analysts for corporations, policy and legislative fiscal analysts, and business officers for nonprofit and government organizations, as well as administrators and heads of businesses and government agencies. Compared to the B.A. in Economics and the B.S. in Quantitative Economics and Data Analysis, the Business Economics combined program provides students with an enhanced background that widens career prospects in business areas.

All three undergraduate majors in the Department of Economics qualify as Science, Technology, Engineering and Math (STEM) degrees for the purpose of extending Optional Practical Training. The department also offers the M.A. and Ph.D. degrees in economics.

Course Progression Restrictions 

Students must complete AECO 110 with a C or better to register for AECO 300. Students must complete AECO 111 with a C or better to register for AECO 301.

Degree Requirements for the Major in Economics

General Program B.A.:

A minimum of 36 credits as follows:

  • AECO 110 Principles of Economics I: Microeconomics (3)
  • AECO 111 Principles of Economics II: Macroeconomics (3)
  • AECO 300 Intermediate Microeconomics (3) or TECO 300 Honors Intermediate Microeconomics (3)
  • AECO 301 Intermediate Macroeconomics (3)
  • AECO 320 Economic Statistics (3)
  • Select one of the following:
    • AMAT 101 Algebra and Calculus I (3)
    • AECO 210 Tools of Economics (3)
    • AMAT 106 Survey of Calculus (3)
    • AMAT 111 Algebra and Calculus II (4)
    • AMAT 112 Calculus I (4)
    • AMAT 118 Honors Calculus I (4)

18 Additional Credits in Economics at the 300 level or above, one of which must have a suffix of W taken at the University. The courses AECO 300 or TECO 300, AECO 301, and AECO 320 must be taken at the University unless completed elsewhere prior to matriculation.

Degree Requirements for the Major in Quantitative Economics and Data Analysis 

General Program B.S.:

A minimum of 40 credits as follows:

  • AECO 110 Principles of Economics I: Microeconomics (3)
  • AECO 111 Principles of Economics II: Macroeconomics (3)
  • AECO 300 Intermediate Microeconomics (3) or TECO 300 Honors Intermediate Microeconomics (3)
  • AECO 301 Intermediate Macroeconomics (3)
  • AECO 320 Economic Statistics (3)
  • AECO 420W Applied Econometrics (3)

Select one of the following:

  • AMAT 111 Algebra and Calculus II (4)
  • AMAT 112 Calculus I (4)
  • AMAT 118 Honors Calculus I (4)

Select one of the following:

  • AECO 410 Mathematics of Economics (3)
  • AMAT 113 Calculus II (4)
  • AMAT 119 Honors Calculus II (4)

15 additional credits in economics at the 300 level or above, including at least 6 additional credits from among AECO 400-489 or 499Z. The courses AECO 300 or TECO 300, AECO 301, AECO 320, AECO 420W, and at least 6 credits from among AECO 400-489 or AECO 499Z that fulfill the additional credits requirement above must be taken at the University unless completed elsewhere prior to matriculation. Students considering graduate level coursework should discuss these options with their advisor. Permission of instructor is required for graduate level coursework.

Degree Requirements for the Combined Major and Minor B.S. in Business Economics

B.S. in Business Economics:

A minimum of 60 credits as follows:

  • AECO 110 Principles of Economics I: Microeconomics (3)
  • AECO 111 Principles of Economics II: Macroeconomics (3)
  • AECO 300 Intermediate Microeconomics (3) or TECO 300 Honors Intermediate Microeconomics (3)
  • AECO 301 Intermediate Macroeconomics (3)
  • AECO 320 Economic Statistics (3)
  • Select One of the Following Options:
    • AECO 210 Tools of Economics (3)
    • AMAT 106 Survey of Calculus (3)
    • AMAT 112 Calculus I (4)
    • AMAT 118 Honors Calculus I (4)
  • Select One of the Following Options:
    • AECO 374/374W Industrial Management Organization (3)
    • AECO 380 Contemporary Economic Issue (3)
  • AECO 466/466W Financial Economics (3)
  • BFIN 210 Personal Finance (3)
  • BACC 211 Financial Accounting (3)
  • BITM 215 Information Technology (3)
  • BLAW 200 Legal Environment of Business (3) or BLAW 220 Business Law (3)
  • 3 courses (9 credits) chosen from
    • BACC 222 Cost Accounting Systems (3)
    • BFIN 300 Financial Management (3)
    • BLAW 321 Law of Business Organization (3)
    • BMKT 310 Marketing Principles (3)
    • BMGT 341 Behavioral Foundations of Management (3)
    • BITM 330 Improving Business Performance with Information Technologies (3)
  • 2 Economics electives (6 credits) at the 300 level or above;
  • 1 Economics elective (3 credits) at the 400 level;
  • 2 additional courses (6 credits) from Economic electives at the 300 level or above or from the Business electives listed above, or from up to 6 transfer credits of Business electives.

At least one Economics course at the 300 level or above must have a suffix of W taken at the University.

Students who major in Business Economics may not minor in Business or in Economics.

Honors Program B.S. in Quantitative Economics and Data Analysis

The honors program is designed to provide capable and motivated students with a greater understanding of economics and to better prepare students for graduate and professional schools.

Students may apply to the honors program after completing any two of AECO 300 or TECO 300, 301, and 320. To be accepted and to complete the program, the student must have an average of at least 3.40 in all courses applicable to the major and 3.25 in all courses taken at the University. Interested students should see the department’s Director of Undergraduate Studies even before completing the required courses, for advice on choosing elective courses and on meeting the other requirements of the honors program.

The honors student must complete all requirements of the General Program B.S. in Quantitative Economics and Data Analysis, including AECO 499Z (the Senior Honors Research Seminar) as part of the program. In addition, the honors student must submit a senior honors thesis acceptable to the Economics Honors Committee.

A plan for the senior honors thesis normally arises from consultation with faculty concerning a suitable topic and method of inquiry. The student, with advice and consent of the Economics Honors Committee, will choose a faculty adviser who will assist the student in completing the thesis. Work on the thesis may begin in the junior year, but it must be completed while the student is enrolled in AECO 499Z.

If all requirements stated above are met, the department will recommend that the student be awarded the B.S. degree with honors in economics.

Combined Bachelor's/Master's Programs

A combined B.S./M.A. program in economics provides students of recognized academic ability and educational maturity the opportunity to fulfill integrated requirements for the undergraduate and graduate degrees. Also available is a combined program leading to a bachelor's degree (B.A. in economics or B.S. in Quantitative Economics and Data Analysis) and a master's degree in public administration (M.P.A.). With careful planning, it is possible to earn both degrees in five years.

To qualify for the bachelor's degree (B.A. or B.S., as approved), students must meet all requirements for the undergraduate major and minor described previously, the minimum credit liberal arts and sciences requirement, the general education requirements, and the residency requirements. To qualify for the master's degree (M.A. or M.P.A.), students must meet all requirements as outlined in the Graduate Bulletin including the completion of required graduate credits and any other conditions such as a research seminar, thesis, comprehensive examination, professional experience, and residence requirements. Up to 12 graduate credits may be applied simultaneously to the bachelor's and master's programs.

Students may be admitted to one of the combined degree programs at the beginning of their junior year, or after the successful completion of 56 credits. A grade point average of at least 3.20 (M.P.A.) and three supportive letters of recommendation from faculty are required. Students interested in learning more about the programs should contact the Director of Undergraduate Studies in the Department of Economics.