FAQ, Economics Department, Mihaylo College of Business and Economics, CSUF

Answers to Frequently Asked Questions

1. Why Economics?

A Wall Street Journal article (July 5, 2005) titled, The Hot Major for Undergrads is Economics, states, "In a global economy filled with uncertainty, many students see economics as the best vehicle for promising good pay and security."

According to Lawrence Summers, president of Harvard and former Secretary of the Treasury, "People are fascinated with applying the economics mode of reasoning to a wide variety of issues, and these forces are causing them to study economics more and more."

Economics and business majors ranked among the five most most-desirable majors in a 2004 survey of employers by the National Association of Colleges and Employers.

2. What does the Department of Economics at CSUF offer?

Bachelor of Arts in Economics

Bachelor of Arts in Economics, Minor in Business Administration

Concentration in Business Economics: Bachelor of Arts in Business Administration

Minor in economics.

Masters of Arts in Economics.

Please see viewsheets (available at SGMH3100, SGMH1201, SGMH3270) for details.

3. What is the Difference between a BA in Economics and a BA in Business Administration with concentration in Business Economics?

The Bachelor of Arts in Economics (p 166-p 171 of catalog) gives you the flexibility to use your “free electives” (about 18 units) to

· Take courses in just about any field of your interest such as (but not limited to) Public Administration, Urban Studies, Geography, Statistics, Mathematics, and Insurance to supplement your economics major. The undergraduate advisor in Economics, Professor Bhattacharya, can help you select “free electives” that match your interests and enhance your job opportunities.

· Take an internship course, Econ 495 that provides you with hands-on experience which will be very useful in your job search. (Note: econ 495 is not counted as an econ elective)

The Concentration in Business Economics is a major in Business Administration with a concentration in Business Economics. In this case you are required to take specific business courses instead of the “free electives.” Please see viewsheets (available at LH 731, LH 725, or LH 702) for details. Pages 98-99 of catalog

4. What are the requirements for the econ major and for the business economics concentration?

The required courses and the list of electives to choose from are listed in the respective viewsheets. You may obtain these from the dept office (LH 702), undergraduate advisors office (LH 725) or the College of Business advising office (LH 731). Pages 98-99 of catalog

5. What are the requirements for the Economics Minor?

Please consult the viewsheet in addition to the guidelines below. P 168 of catalog

Let us look at 2 cases:

A. Your major is business administration and your concentration is a field other than business economics such as—Accounting, Marketing, Finance, Management, ISDS, International Business, etc.

In this case, you need to take Econ 320 + 3 electives to fulfill your requirements for a minor. These have to be distinct courses which do not double count for anything else. In today’s global world, a minor in economics with a focus on global courses is an excellent supplement to your major.

B. Your major is outside the College of Business and Economics: please see p 168 of catalog.

6. How do I enroll for an internship class, Econ 495?

Note that this is not counted as an economics elective, but is counted towards the university units. It is a credit/no credit class. The form for registering for an internship is obtained from LH 209. Please check with LH 209 or with the undergraduate advisor for guidelines in choosing an internship that matches your career goals.

7. What is the Independent Study, Econ 499?

Guidelines for the Independent Study can be picked up from the Economics department office LH 702 or from Professor Bhattacharya, the undergraduate advisor at rbhattachary@fullerton.edu or (657) 278-3652

8. What skills does the Economics Major provide for the job market?

According to the recent Occupational Outlook Handbook:

"The growing need for economic analyses in virtually every industry should result in additional jobs for economists. Employment of economists and survey researchers is expected to grow faster than the average for all occupations through 2010."

The Economics major provides you with the following skills that are highly valued by employers.

A solid understanding of economic principles that form the foundation of the corporate world and the basis of policy making

A solid understanding of the global economy

Overall quantitative and qualitative analytical ability

Skills in problem solving and computation

Skills in looking for sources of data

Compilation of data and interpretation of data trends

Testing of hypothesis

Written communication: writing reports and research papers

Oral communication: class presentations and class discussions

Experience with statistical packages, such as SAS, Stata, and Eviews

Knowledge of these skills opens doors to a wide range of jobs: city, state, and federal government, Wall Street, law, banking, finance, insurance, real estate, utility companies, non-profits, regulation, sports, health, aging, academia, all aspects of business, and international agencies like the International Monetary Fund and the World Bank.

According to the National Association of Business Economists (NABE), "The key skills of the economic analyst compared to other business analysts is the ability to link industry/market developments to the overall economy, i.e., to see the forest as well as the trees."

Our majors have landed jobs in Merrill Lynch, Walt Disney, Southern California Edison, local consulting companies, city, state, and federal govt agencies, banks, and insurance companies.

9. How does Economics as a major strengthen selection at a graduate school?

Many of our undergraduates have pursued graduate studies in law, business, public administration, public health, environmental studies, urban studies, the social sciences, and journalism. Studies have shown that lawyers with undergraduate degrees in economics earn more than other lawyers.

10. How does Economics as a major strengthen your selection at a graduate school?

11. What Scholarships/awards are available to students?

Please consult the Scholarship Bulletin for several economics awards. These have a deadline early in Spring. This includes 3 awards for the best student paper and awards for graduate study in CSUF and other schools.

12. What are some Job Links?

USEFUL LINKS

This is not an exhaustive list. The following links were functional at the time this document was made. If the links do not work, please do a search with the name of the agency.

Sample Resumes at CSUF career center:

http://campusapps.fullerton.edu/career/pdf/sampleresumes.pdf

http://campusapps.fullerton.edu/career/student/default.aspx

Resources For economists RFE:

http://www.rfe.org has a list of companies that hire economists Check the sites individually.

National Association of Business Economists: http://www.nabe.com

Glossary of Economics Terms

http://www-personal.umich.edu/~alandear/glossary/d.html

International

Deutsche Banks: http://www.thebigchoice.com/Registration/Quick_Registration.html

Check out their advice center for students http://www.thebigchoice.com/Careers/Undergraduate_Advice/

Export Import Banks http://www.exim.gov