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Economics

Economics2018-08-29T13:36:46-05:00

Economists study the prospects for individual companies and the forces that drive the economy.

Students majoring in Economics learn to gather, organize and interpret data, making connections and using mathematical formulas and statistics. They also create models to predict the impact of investments, policy decisions, industry trends, demographics, climate change and much more. A degree in Economics can be used in many areas, including public policy, finance, strategic planning and labor markets.

Economists possess a unique balance of analytical and communication skills. They must be able to translate complex findings into a format that business and community leaders can understand. They also are well prepared for a wide range of careers, including:

Economist
Market Researcher
Economic Consultant
Compensation and Benefits Manager
Actuary
Credit Analyst
Financial Analyst

Studying economics also prepares students for postgraduate work in law, finance, public policy, business and more.

According to the U.S. Bureau of Labor Statistics, Occupational Outlook Handbook the median annual income for economists was $101,050 in 2016.

In May 2016, the median annual wages for economists in the top industries in which they worked were as follows:

Industry Annual Wage
Finance and insurance $124,660
Federal government, excluding postal service $111,310
Management, scientific, and technical consulting services $110,900
Scientific research and development services $102,000
State government, excluding education and hospitals $69,170

Source: the U.S. Bureau of Labor Statistics, Occupational Outlook Handbook

Internships

Students gain experience beyond the classroom with a wide range of internship opportunities. Missouri Western students have interned at American Family Insurance, Citizens Bank, Hillyard Companies and Nodaway Valley Bank, to name a few.

Economics professor lectures in class

Economics (Bachelor of Science, B.S.)

General Studies
42-47
Major Requirements
ECO 260Principles of Macroeconomics3
ECO 261Principles of Microeconomics3
ECO 360Intermediate Macroeconomics3
ECO 361Intermediate Microeconomics3
Select one of the following: 13
Business Statistics I
Statistics for Economics and Social Sciences
Select two courses from the following Social Science grouping:6
Public Finance
Economics of Health Care
Economics of the Environment
History of Economic Thought
Select two courses from the following Business Economics grouping:6
Money and Banking
Labor Economics
Business and Economic Forecasting
International Trade
Select nine credit hours from Economics courses numbered 300 or higher and not used in the above groupings9
Other Required Courses
SOC 110Introduction to Sociology3
PSC 101American National Government3
HIS 140American History to 18653
or HIS 150 American History since 1865

Graduation Requirements 

  1. Earn a minimum of 120 credit hours, including 60 from a senior college (100 level and higher, maximum of 6 CED credit hours applicable).
  2. Earn a minimum of 30 credit hours in upper-division courses.  Lower-division transfer courses accepted as meeting upper-division departmental course requirements cannot be used to fulfill this requirement.
  3. Earn 30 of the last 45 credit hours at MWSU in institutional coursework (exclusive of credit by examination).
  4. Participate in required departmental and campus wide assessments. 
  5. Earn an overall GPA of at least 2.0 and a 2.0 GPA in the Economics courses required to satisfy the major.
  6. Fulfill the Missouri Constitution requirement.
  7. Successfully pass the Missouri Higher Education Civics Achievement exam. 
Are you ready to declare this major? Download, sign and submit the form to the Economics, Political Science and Sociology Department.

Mapping your degree plan is important. Consult with your academic advisor to create a plan and monitor it regularly.