Economics

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  • 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

Scholarships associated with academic programs usually have a specific scholarship application form that can easily be obtained by contacting that academic program's office or visiting that academic program's web page. If you have any questions, please contact the Financial Aid office at 970.943.3085 or 800.876.5309.

Billmeyer, Matthew Memorial Scholarship

Available to:

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

Provided by:

The Billmeyer family in memory of Matthew Billmeyer "79."

Amount:

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

Available to:

Students majoring in Business or Accounting; must have completed 60 hours of course work of which a minimum of 30 hours must at Western, be among top five as ranked by overall GPA.

Provided by:

Friends to honor Dr. Binford when he retired from Western as Professor and Chairman of the Division of Business.

Amount:

Amount will be determined based on funds available. Two awards annually.

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

Borick, Business Scholarship

Available to:

Declared majors in Business, Accounting or Economics who are U.S. citizens. Must be a full-time student with a GPA of 3.4 or greater. Must demonstrate academic promise and financial need. Preference given to students actively involved in The School of Business. 

Provided by:

Steven Borick '75

Amount:

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

Available to:

Full-time junior or senior Accounting majors with a GPA of 3.0 or greater and demonstrate academic promise.

Provided by:

Family of Denver Cherry.

Amount:

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

Available to:

Declared majors in Business Administration, junior or senior status, full-time students with a GPA of 2.0 - 2.5 preferred. Student needs to be recommended by one or more Western Business division faculty. Preference given to members of Delta Sigma Pi, New York State Residents and Community College graduates.

Provided by:

James H. Cox 1966 and 1968 graduate of Western.

Amount:

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

Available to:

Nontraditional students enrolled as a Business major with a GPA of 3.0.

Provided by:

The Depp family (Paul and Roberta) and friends to honor the memory of Stephen Paul Depp.

Amount:

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

Available to:

Students who are majoring in Accounting or Economics and have earned at least 30 credit hours at Western.

Provided by:

Don Eastman

Amount: 

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

Available to:

Must have a GPA of 3.0 or higher and be a Business, Accounting or Economics Major. Must also be a member of GS&L.

Business Scholarship Provided by:

Donation from Gunnison Savings & Loan.

Amount:

$750 (pending funding)

Scholarship Recipient 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

Haverly, F. S. Academic Scholarship is Available to:

Full-time Business, Accounting or Economics majors. Recipients must maintain a GPA of 3.0 or better and have completed, or will complete 60 credit hours at Western by semester end in which scholarship is awarded. Students must have financial need.

Business Scholarship Provided by:

A gift from F.S. Haverly who was an Accounting professor at Western for over 20 years.

Amount:

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

Scholarship Recipient 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

Available to:

Full-time female Business, Accounting or Economics majors who are Colorado residents. Recipients must maintain a GPA of 3.2 or better and have recipient-year class standing of sophomore through senior. Students must have financial need.

Business Scholarship Provided by:

Kathleen M. Kregel ('87 MBA) & James R. Smith.

Amount:

Award depends on funds available.

Scholarship Recipient 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

Available to:

Declared majors in Business, Accounting or Economics, full-time students with a GPA of 2.8 or greater. Have both academic promise and financial need.

Business Scholarship Provided by:

Robert Little in memory of Gloria Little.

Amount:

Fourteen awards of $500 each.

Scholarship Recipient 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

Available to:

Students with a declared majors in Accounting. Colorado residents and U.S. citizens. Must have a cumulative GPA of 3.0 or greater, and 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.

Accounting Scholarship 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

Available to:

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

Provided by:

Marshall Miller

Amount:

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

Available to:

Full-time Business Administration majors. Recipients must maintain a GPA of 3.0 or better.

Provided by:

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.

Amount:

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

Available to:

Declared majors in Business, Accounting or Economics. Must be a full-time student with a GPA of 3.5 or greater. Must demonstrate academic promise and financial need. Students who have distinguished themselves as people of strong character and morals. Preference given to those actively involved in the department.

Provided by:

LIATIS Foundation.

Amount:

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

Available to:

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

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

Available to:

Full-time Colorado residents who demonstrate financial need. Must be majoring in Business, Accounting or Economics. 2.5 GPA required to maintain scholarship.

Provided by:

Douglas A. Wilson to honor his brother.

Amount:

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

Available to:

Excellent female students in Accounting.

Business Scholarship Provided by:

Patty Locke

Amount:

Award depends on funds available

Scholarship Recipient 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. 

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.

Overview

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 create new knowledge using the skills they have acquired.

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.