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Economics & Business
The Samuel J. Campbell Department of Economics and Business offers four majors— business management, economics, international political economy, and quantitative economics. These majors provide a basic understanding of the framework and key institutions of modern economic systems. Each major also gives students the opportunity to develop expertise in the quantitative analysis of economic and business data. In addition to these majors, the department offers three minors— entrepreneurship, finance, and market research. These minors tie to particular career paths.
Majors
The business management major is designed for students who want to understand how economic organizations function and who want to run economic organizations: for-profit firms, not-for-profit firms, and governmental organizations. The major has the analytical core of microeconomics and macroeconomics.
Graduates will be equipped to participate in the operation of all forms of economic organizations, to work in the financial services sector, to pursue professional programs, and/or to start their own businesses.
- Ten departmental units (6 of which must be Beloit College units):
Recommended courses for all Business Management majors: PRAX 202, Interdisciplinary Studies 313, Sociology 285, Philosophy 100, Mathematics 110.
The core of the economics major is economic theory. Economic theory is the set of tools an economist uses to understand the bewildering world of commerce to predict the behavior of individuals and certain groups into which they gather. The required and elective courses of this major will give students an appreciation for the way in which professional economists look at the world and how they try to understand how it works.
Students wanting to become professional economists should, of course, take this major. But it would also benefit those who are considering careers in other areas (law, public policy, business) and who have a flair for abstract reasoning and mathematics.
- Ten departmental units (6 of which must be Beloit College units):
- Economics 199, 211, 212, 251, 303, 305 or 306, and 380.
- Three elective units: no more than 1 unit from Economics 201, 202, 203, 204, 205, 209, 210, and at least 2 units from Economics 220, 235, 245, 301, 304, 305 or 306, 320, and 336.
- Supporting courses (3 units):
- Three units from Mathematics 110 or 113, 115, and 1 course numbered 175 or higher, chosen in consultation with the student’s advisor OR Mathematics 115 and two additional courses numbered 175 or higher.
International political economy (IPE) is a field of study that examines the systemic connections between the political and institutional rules of the social order and patterns of economic structure and performance in an international context. Though the field draws mainly upon economics and political science, the boundaries of IPE are somewhat fluid, incorporating sociology, anthropology, history, and area/regional studies.
The IPE major complements existing programs in international education by offering an international field of study that incorporates a rigorous quantitative sequence as part of its core curriculum. This internationally-oriented major that emphasizes social scientific empirical methods will be especially attractive to students interested in pursuing graduate programs in development studies and international economics, and careers in international business consulting, financial services, and NGO operations.
- Ten departmental units (6 of which must be Beloit College units):
- Economics 199, 211, 212, 235, 251, 303, and 380.
- Three elective units from Economics 201, 202, 203, 204, 205, 206, 209, 210, 220, 301, 304, 306, and 336.
- Supporting courses (3 units):
- A minimum of 1 unit on general world history of culture or on interactions or relations among countries.
- A minimum of 1 unit on a specific country or region of the world that is different from the student’s home country or region of the world.
- No more than 2 units from the same discipline can count toward these requirements.
- Students are strongly encouraged to take either Political Science 130, 160, or 246.
- Double majors in International Political Economy and International Relations may double count no more than 4 units.
The quantitative economics major enables students to use elements of mathematics to model scenarios in microeconomics and macroeconomics. It teaches students empirical techniques that enable them to test hypotheses emerging from the underlying micro and macro theory by using data drawn from individual firms and entire economies around the world. Through their course choices, students can observe quantitative comparisons between benefits and costs in a variety of contexts that range from the environment to health, gender, labor, and systems for organizing economic activity.
- Ten departmental units (6 of which must be Beloit College units):
- Economics 199, 211, 212, 251, 303, 305 or 306, 380.
- One from Economics 201, 202, 203, 204, 205, 209, 210, 220, and 271 (if the subject of this topics course is pertinent).
- Two elective units from Economics 235, 245, 301, 302, and any of the courses not used to satisfy the preceding requirement [Economics 201, 202, 203, 204, 205, 209, 210, 220, 271 (if the subject of this topics course is pertinent), 304, 305, 306].
- Supporting courses (3 units):
- Three units from Mathematics 110 or 113, 115, 205, 275, 290, 300, and 310.
Minors
- One unit of Economics 199.
- One unit of Economics 251.
- One unit of Business 301.
- One unit of Anthropology 100.
- One unit of Anthropology 208.
- One unit of Business 302.
Students may not count more than 2 units from the above listed minor requirements for their major.