Economics

  • Bachelor of Arts in Economics
    • Major
    • Minor
    • Secondary Licensure

    Get Involved

    A college education is more than just taking courses. Meet new people, apply your skills and stretch beyond your comfort zone. Make your education an experience.

    • Capstone Experience: Senior economics majors incorporate the tools learned throughout the program to engage in an in-depth analysis of increasing economic inequality.
       
    • Internships: Recent students have interned with local government agencies and businesses to analyze current economic data.
       
    • Model United Nations: Compete in the National Model United Nations event in New York City.
       
    • Study Abroad: Experience Harlaxton College in the English Midlands.

    Scholarships

    Program-Based Scholarships

    Billmeyer, Matthew Memorial Scholarship

    Eligibility

    • Full-time students of any class
    • 2.0 GPA or greater
    • Preference given to students majoring in Business, Accounting, or Economics

    Description

    This scholarship is provided by the Billmeyer family in memory of Matthew Billmeyer "79."

    Award depends on funds available.

    Selected by: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Binford, Harold E. Business Scholarship

    Eligibility

    • Business or Accounting majors
    • Complete 60 credit hours of coursework (30 hours at Western)
    • Be among top five as ranked by overall GPA

    Description

    The scholarship is provided by friends to honor Dr. Binford when he retired from Western as Professor and Chairman of the Division of Business.
    Amount will be determined based on funds available. Two awards annually.

    Application:

    Contact The School of Business for scholarship application and deadline information. 
    970.943.2019 | Borick Business Building 213

    Selected by: The School of Bussines

    Borick, Business Scholarship

    Eligibility

    • Declared majors in Business, Accounting or Economics who are U.S. citizens
    • Full-time student
    • 3.4 GPA or higher
    • Must demonstrate academic promise and financial need
    • Preference given to students actively involved in The School of Busine

    Description

    This scholarship is provided by Steven Borick '75.

    Awards based on funds available

    Selected by: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213.

    Cherry, Denver Memorial Accounting Scholarship

    Eligibility

    • Full-time junior or senior Accounting majors 
    • 3.0 GPA or greater
    • Demonstrate academic promise

    Description

    This scholarship is provided by the family of Denver Cherry.

    Award depends on funds available.

    Selected By: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Cox, James H. Business Administration Scholarship

    Eligibility

    • Declared majors in Business Administration
    • Full-time students
    • Junior or senior status
    • 2.0 - 2.5 GPA preferred
    • Students need to be recommended by one or more Western Business division faculty
    • Preference given to members of Delta Sigma Pi, New York Residents, and Community College Graduates

    Description

    This scholarship is provided by James H. Cox 1966 and 1968 graduate of Western.

    Award depends on funds available.

    Selected by: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Depp, Stephen Paul Memorial Scholarship

    Eligibility

    • Nontraditional students who are enrolled as a Business major
    • 3.0 GPA or higher

    Description

    This scholarship is provided by the Depp family (Paul and Roberta) and friends to honor the memory of Stephen Paul Depp.

    Award depends on funds available.

    Selected by: The School of Business.

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Eastman, Donald S. Business Scholarship

    Eligibility

    • Students who are majoring in Accounting or Economics
    • Have earned at least 30 credit hours at Western

    Description

    This scholarship is provided by Don Eastman.

    Award depends on funds available.

    Selected by: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Gunnison Savings and Loan Scholarship

    Eligibility

    • 3.0 GPA or higher
    • Must be a Business, Accounting or Economics major
    • Must be a member of GS&L

    Description

    This scholarship is provided by donation from Gunnison Savings & Loan.

    Amount: $750 (pending funding)

    Selected by:The School of Business

    Application:

    Contact the School of Business for scholarship application and deadline information.

    970.943.2019  | Borick Business Building 213

    Haverly, F. S. Academic Scholarship

    Eligibility

    • Full-time Business, Accounting, or Economics majors
    • Recipients must maintain a GPA of 3.0 or higher
    • Must have completed 60 credit hours at Western by semester end in which the scholarship is awarded
    • Students must have financial need

    Description

    This scholarship is provided as a gift from F.S. Haverly who was an Accounting professor at Western for over 20 years.

    One scholarship for $1000 or two scholarships for $500.

    Selected by: The School of Business

    Application:

    Contact the School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Kregel, Kathleen Scholarship

    Eligibility

    • Full-time Female Business, Accounting or Economics majors
    • Colorado residents
    • Must maintain a GPA of 3.2 or higher
    • Recipient-year class standing of sophomore through senior
    • Students must have financial need

    Description

    This scholarship is provided by Kathleen M. Kregel ('87 MBA) & James R. Smith.

    Award depends on funds available.

    Selected by: The School of Business

    Application:

    Contact the School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Little, Robert and Gloria Memorial Business Scholarship

    Eligibility

    • Declared Business Accounting or Economic Majors
    • Full-time student
    • 2.8 GPA or higher
    • Demonstrate both academic promise and financial need

    Description

    This scholarship is provided by Robert Little in memory of Gloria Little.

    Fourteen awards of $500 each.

    Selected by:The School of Business

    Application:

    Contact the School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Mikesell Scholarship In Accounting

    Eligibility

    • Students with a declared majors in Accounting
    • Colorado and U.S. citizens
    • Must have a cumulative GPA of 3.0 or greater
    • Demonstrate financial need
    • Preference placed on students who attended High School in communities with a population of less than 10,000
    • Scholarship may be renewable

    Description

    This scholarship is provided by Greg and Monica Mikesell.

    Amount: One award for $1200.

    Selected by: Accounting Faculty

    Application: Contact the School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

     

    Miller, Marshall Business Scholarship

    Eligibility

    • Business majors who are graduates of a Colorado high school
    • Students must have junior/senior status
    • Minimum GPA of 2.25
    • Students must demonstrate financial need and high personal standards

    Description

    This scholarship is provided by Marshall Miller.

    Depending on funds available.

    Selected by: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Porter, Ralph E. Business Administration Scholarship

    Eligibility

    Description

    Ralph Porter who was associated with Western Colorado University for more than sixty years. He worked directly to serve the College as a student, Secretary to the President, Treasurer, and Business Manager.

    Award depends on funds available.

    Selected by: The School of Business

    Application:

    Contact the School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Reed, J. Ralph Business Scholarship

    Eligibility

    • Declared majors in Business, Accounting or Economics
    • Full-time student
    • 3.5 GPA or higher
    • Demonstrate academic promise 
    • Demonstrate financial need
    • Student who have distinguished themselves as people of strong character and morals
    • Preference given to those actively involved in the department

    Description

    This scholarship is provided by the LIATIS Foundation.

    Awards based on funds available.

    Selected by: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Whiting, Vern Memorial Scholarship

    Eligibility

    • Full-time students majoring in Business, Accounting or Economics
    • Must be junior or senior standing
    • Demonstrate financial need
    • Must have exhibited a work ethic that has assisted in financing their education
    • Preference given to non-traditional students

    Description

    This scholarship is provided by Vern's wife, Nell, and family and friends.

    Amount: $250

    Selected By: Faculty of the Business, Accounting and Economics programs in consultation with the Financial Aid Office.

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Wilson, Roger E. Memorial Business Scholarship

    Eligibility

    • Full-time Colorado residents
    • Demonstrate financial need
    • Must be majoring in Business, Accounting or Economics
    • 2.5 GPA or higher to maintain scholarship

    Description

    This scholarship is provided by Douglas A. Wilson to honor his brother.

    Depending on funds available.

    Selected by: The School of Business

    Application:

    Contact The School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

     

    Locke, Patty Accounting Scholarship for Women

    Eligibility

    • Excellent Female students in the Accounting program

    Description

    This scholarship is provided by Patty Locke.

    Award depends on funds available

    Selected by: The School of Business

    Application:

    Contact the School of Business for scholarship application and deadline information.

    970.943.2019 | Borick Business Building 213

    Learn more about Western's Accounting program. 

    Institutional Scholarships

    Common Scholarships

    Western offers approximately 70 common scholarships for which a wide variety of students are eligible (e.g., locals, veterans, transfers). Apply for any number of these common scholarships using Western’s Common Scholarship Application, which is due April 1. For more information, visit western.edu/scholarships.

    Early Action Credit

    If a student is accepted to Western by Nov. 1 and qualifies for a merit scholarship, the student will receive an additional $500 for the first year. Use our Net Price Calculator to determine whether you qualify for a merit scholarship.

    Mountaineer Alumni Recommendation Scholarship

    Western Colorado University alumni can nominate prospective students for a $500 scholarship ($250 per semester) for first year only. Application deadline is typically June 1. For more information, visit western.edu/mars.

    Neighboring States Program

    Students with a permanent address from one of the seven contiguous neighboring states to Colorado who have demonstrated financial need are automatically considered for a special $1,000 per year grant, totaling $4,000 over four years.

    The Western Neighboring States program can be added to WUE, CP or merit scholarships. So, if you are a permanent resident of one of those seven states—and show financial need—you are eligible.

    For more information about the Neighboring States program, visit Western’s Tuition Discount Programs Page.

    Presidential Promise

    The Presidential Promise is guaranteed to students who have received a scholarship through the Denver Scholarship Foundation (DSF) and/or GearUp—and are eligible for a Pell Grant.

    For students who meet these criteria, Western will cover the cost of tuition and fees through the combination of federal, state and institutional aid. For more information on the Presidential promise, visit western.edu/scholarships.

    Tuition Discount Programs

    Western Undergraduate Exchange (WUE) or Central Plains (CP) tuition represents a substantial savings relative to normal, out-of-state tuition. Students eligible for the WUE or CP program will be charged 150% of Western’s total in-state tuition. For 2018-19, total in-state tuition was $8,934. WUE/CP tuition was $13,401. The WUE/CP discount is valued at $4,695.

    For more information about the WUE and CP geography-based programs, visit Western’s Tuition Discount Programs Page.

    Western Merit Scholarship

    Immediately upon acceptance at Western, every student is considered for a merit scholarship worth between $2,500-$4,500 per year for in-state students and $8,000-$10,000 for out-of-state students. The amount is based on the student's GPA and ACT/SAT scores. Visit our Net Price Calculator at western.edu/cost to determine whether you qualify for a merit scholarship. 

    For more information about merit scholarships at Western, visit western.edu/scholarships.

    Faculty & Staff

    Faculty

    Sally E. Hays, Ph.D. headshot
    Professor of Economics
    Phone: 970.943.2893
    Office Location: Borick Business Building 228
    Scott Lazerus, Ph.D. headshot
    Professor of Economics
    Phone: 970.943.2097
    Office Location: Borick Business Building 227
    David J. Plante, Ph.D. headshot
    Professor of Economics
    Phone: 970.943.2207
    Office Location: Borick Business Building 244

    Courses

    FOR REQUIRED COURSES AND DEGREE PLANS, VISIT THE OFFICIAL UNIVERSITY CATALOG. This is a sample of courses offered by Western Colorado University. To ensure the courses you need are offered during the current semester, please visit the university course search.

     ECON 201 - Macroeconomics (3 credits)

    An introduction to the methods, models, and approaches used by economists to analyze and interpret events and policies related to the overall operation of the economy. The course endeavors to make sense of unemployment, inflation, recessions, debt and deficits, economic growth, the expanding role of the Federal Reserve, and policies to provide stability to the economy. Additional attention is given to the making of economic policy in an era of globalization. Finally, students are exposed to multiple schools of thought regarding macroeconomic reasoning. Prerequisite: ACT math score of 19 or above; SAT math score of 500 or above; pass MATH 099; or Accuplacer Elementary Algebra test score of 85 or higher, or university-level math requirement with a minimum grade of C-. Prerequisite or corequisite: ENG 102.

     ECON 202 - Microeconomics (3 credits)

    The theory of microeconomics makes use of the tools of marginal cost-benefit analysis to provide a framework for the economic analysis of decision-making. The focus is on the choices of individual firms and consumers, and the resultant outcomes in individual markets. The social implications of the functioning of competitive markets are examined, as well as the causes of market failure and the potential roles of government in correcting them. Prerequisite: ACT math score of 19 or above; SAT math score of 500 or above; pass MATH 099; or Accuplacer Elementary Algebra test score of 85 or higher, or college-level math requirement with a minimum grade of "C-."

     ECON 216 - Statistics for Business and Economics (3 credits)

    An introduction to descriptive statistics and statistical inference, with application in business, including hypothesis testing, confidence intervals, and simple regression analysis. Prerequisite: MATH 140, MATH 141, or MATH 151 with a minimum grade of ÒC-.Ó

     ECON 301 - Intermediate Macroeconomics (3 credits)

    An analysis of competing theories about the overall functioning of economies including both growth and stabilization policies. Alternative models are examined at the levels of assumptions, mechanics, dynamics, and policy implications. Theories are examined within their historical context and the sets of problems faced by the theorists. Students are asked to engage, analyze, interpret and provide a course of action for real-world cases. Prerequisites: ECON 201; ECON 202; and MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-."

     ECON 302 - Intermediate Microeconomics (3 credits)

    Intermediate Microeconomics extends the analysis of individual economic behavior and the functioning of markets learned in ECON 202 by incorporating the more sophisticated microeconomic models used in more advanced economic analysis. Topics include the theories of the consumer and the firm, the functioning of market, and the impact of market structure on price formation. Prerequisites: ECON 202; MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-"; ECON 201 recommended.

     ECON 303 - International Economics and Globalization (3 credits)

    An exploration of economic, political, and social effects of globalization. This is examined from the perspectives of trade, development, finance, and the environment. The first half of the course focuses on the impacts of international trade. This includes preferential trading relations, protectionism, global trade agreements, competitiveness, and possible conflicts between trade and social objectives. The second half of the course focuses on international monetary relations and regimes. This includes understanding the balance of payments, exchange rate determination, currency crises, and international debt. Prerequisites: MATH 140, MATH 141, or MATH 151with a minimum grade of ÒC-Ó; ECON 201; ECON 202 recommended.

     ECON 303 - International Economics and Globalization (3 credits)

    An exploration of economic, political, and social effects of globalization. This is examined from the perspectives of trade, development, finance, and the environment. The first half of the course focuses on the impacts of international trade. This includes preferential trading relations, protectionism, global trade agreements, competitiveness, and possible conflicts between trade and social objectives. The second half of the course focuses on international monetary relations and regimes. This includes understanding the balance of payments, exchange rate determination, currency crises, and international debt. Prerequisites: MATH 140, MATH 141, or MATH 151with a minimum grade of ÒC-Ó; ECON 201; ECON 202 recommended.

     ECON 316 - Econometrics (3 credits)

    The application of advanced statistical methods and modeling to an empirical understanding of economic issues. Combines elements of statistical reasoning with economic theory and provides an excellent opportunity to combine concepts learned in previous economics courses. Topics covered include multiple regression analysis, model specification, dummy variables, multicollinearity, heteroscedasticity, autocorrelation, limited dependent variables, simultaneity, time series, forecasting, and methodological issues. Prerequisites: ECON 201or ECON 202; and ECON 216 or MATH 213.

     ECON 317 - Economics and Public Policy (3 credits)

    An examination of the field of public economics, the branch of economics concerned with the reasons for market failure (monopoly, public goods, externalities, information asymmetry) and the potential for government policies to correct them. The application of the tools of economic analysis to understanding the causes of and potential solutions to social problems of current interest are emphasized. Prerequisites: MATH 140, MATH 141, or MATH 151 with a minimum grade of ÒC-Ó; ECON 202; ECON 201 recommended.

     ECON 476 - American Economic Development (3 credits)

    An inquiry into sources and character of American economic development. A survey is provided of several key moments in American political economy such as the market revolution, reconstruction, populism, progressivism, the Great Depression, the New Deal, and globalization. Students are asked to engage the ideas, social movements, and institutions that have shaped the modern American economy. Prerequisite: Instructor permission.

     ECON 498 - Income Distribution, Poverty and Wealth (3 credits)

    A seminar-style examination of the causes and consequences of historical trends in income and wealth distribution in the United States, concentrating especially on the trend toward increasing inequality that began in the 1970's. Topics include: empirical analysis of distributional data; causal analysis based on both microeconomic and macroeconomic analysis; the roles of institutional change, social attitudes, and government policy; and both positive and normative evaluations of the economic and social consequences. This course fulfills the Economics Capstone Requirement.

     GEOG 250 - Geography of North America (3 credits)

    A survey of the major biophysical, cultural, and economic regions of the United States and Canada. Major themes of human geography including demography, migration, land use change, and ecological concerns are addressed in appropriate regional contexts. Prerequisite: GEOG 120 or sophomore standing.

     HIST 327 - Colorado History (3 credits)

    A study of the history of Colorado from prehistoric times to the modern era, emphasizing the Native American and Spaniard, mining, cattle, transportation and farming frontiers, and problems of the 20th century involving water, energy, and growth. Prerequisites: minimum sophomore standing or instructor permission. HIST 200 recommended.

     MATH 213 - Probability and Statistics (3 credits)

    A course in the use of statistical techniques to draw knowledge from data. Topics include exploratory data analysis, descriptive statistics, t-procedures, ANOVA, chi squared procedures, regression, and non-parametric tests. Statistical software is used extensively to analyze real data sets. Prerequisite: MATH 141 with a minimum grade of C-, or Accuplacer university-level mathematics test score of 85 or above; or instructor permission. GT-MA1

     POLS 360 - American Foreign Policy (3 credits)

    Not since the Roman Empire has any nation had as much economic, cultural and military power as the United States does today. Yet, as has become all too evident through the problems of terrorism, environmental degradation and the proliferation of weapons of mass destruction, that power is not enough to solve many global issues. This course examines the way in which U.S. foreign policy is made and the variety of ongoing and emerging foreign policy problems the U.S. faces in the context of their evolution. Prerequisites: POLS 255 and/or POLS 260 recommended.

     POLS 476 - American Political Thought II (3 credits)

    A survey of American political thought and practice since the Civil War focusing on how democracy and capitalism have enabled and constrained one another in the course of the development of the American polity. Surveys key thinkers, social movements, and institutional developments such as Reconstruction, Populism, Progressivism, the Labor Movement, the Women's movement, the New Deal, and the Civil Rights Movement. Prerequisite: instructor permission.

  • Bachelor of Arts in Economics
    • Major
    • Minor
    • Secondary Licensure

    Economics at Western, more than the other social sciences, is focused on developing students’ abilities to analyze contemporary events using models and high-level data. Students interested in real-world issues such as natural resources, globalization, inequality and financial crises who want to approach these issues deductively as well as empirically will find that economics provides them a powerful set of skills for understanding the world. Students learn to question received knowledge and conduct research using the skills they have acquired. Before graduating, students participate in a major research project combining statistical analysis, economic reasoning, design and implementation.

    The Program

    • The Standard major is for students who wish to pursue Economics in addition with another major or minor.
       
    • The Secondary Teacher Licensure emphasis prepares students for the State of Colorado License in Social Science Education.

    Students in both tracks will focus on a practical and applied understanding of the world around them. Courses contain theoretical content but are geared toward understanding real issues and current problems. Historical analysis is used to place current events within a context. Before graduating, students will also participate in a major research project combining statistical analysis, economic reasoning and study design and implementation.

    Careers & Opportunities

    The combination of formal training in modelling and statistical methods with creativity makes economics training highly valued in a wide range of careers. In a world increasingly driven by growing amounts of data, economics training is particularly adept at uncovering useful information in new and creative ways.

    Students graduate ready to pursue any of the following:

    • Graduate School
    • Law School
    • Business School
    • Public Administration
    • The Government Sector
    • The Private Sector
    • College or High School Teaching

    Learn More

    Reach out to Sally E. Hays, Ph.D. for more information.