Major Requirements

Declaration Requirements

To declare a major in Economics, a student must meet the following requirements:
 
  • Completion of 28.0 hours at DePaul University
  • The following courses must be completed with a minimum grade of C- and with a combined GPA of 2.000 or higher: ACC 101, ACC 102, BLW 201, ECO 105, ECO 106, MAT 135, MAT 136, and MAT 137
  • A minimum cumulative DePaul grade point average of 2.000
  • A minimum Economics (ECO) grade point average of 2.000
  • No grade of IN, R, or lower than C- in any Economics (ECO) course or course used toward the Economics major
  • Completion of ECO 105, ECO 106 and ECO 315 with minimum grades of C-

Course Requirements

In addition to ECO 105, ECO 106 and ECO 315, a student majoring in Economics is required to complete the following courses totaling at least 30.0 hours:
 

ECO 375 may be taken in place of FIN 202. Students selecting this option will earn an additional 2.0 hours toward their program of study.

ECO 101 is intended for non-Driehaus students and cannot be counted toward a major or minor in economics.

ECO 395 may not be used as an Economics Elective. 

Open Electives

Open elective credit (16.0 hours) is needed to meet the minimum graduation requirement of 192 hours.

Global Business Perspective

If an ECO course is shared between Global Business Perspective and the Economics major, additional hours of Open Elective credit are required.

Degree Conferral Requirements

All Economics (ECO) courses and any courses used toward the Economics major must be completed with a minimum grade of C- and with a combined GPA of 2.000 or higher.

ECO 305

INTERMEDIATE MICROECONOMICS

Continuation of topics treated in Economics 105, especially consumption and production theory. Marginal analysis and indifference curves are major tools used in discussion of demand for products, pricing output, wages, and distribution of output.
Prerequisites:
ECO 105 and MAT 135 or equivalent are a prerequisite for this class.

ECO 306

INTERMEDIATE MACROECONOMICS

The purpose of this course is to develop macroeconomic models that assist in understanding the myriad economic problems facing us today, both domestic and foreign, and in evaluating proposed solutions. These static and dynamic models are used to understand interactions in the macroeconomy, and will serve as a tool in predicting the level of GDP, inflation, unemployment and interest rates. Models included are: traditional short-run Keynesian analysis; the New Classical market-clearing approach; and the recent work in Neo-Keynesian thought.
Prerequisites:
ECO 105, ECO 106 and MAT 135 or equivalent are a prerequisite for this class.

FIN 202

QUANTITATIVE REASONING

This course is designed to provide the students with an overview of basic statistical tools of financial analysis. Is a course designed to familiarize the students with the design and application of spreadsheet models for the analysis of financial data and tests of hypotheses.
Prerequisites:
FIN 310 is a prerequisite for this class.

ECO 310

URBAN ECONOMICS

This course discusses the economic rationale for the existence of cities and urban areas. Location decision-making by both firms and households is analyzed with attention given to the resulting land values, land rents, population density gradients, and urban land use patterns. We study models of the supply and demand for housing, the measurement and determination of house value, and the corresponding problems of segregation, housing abandonment, property taxation, and public housing. Other urban problems such as poverty, crime, and transportation are also discussed.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 311

BUSINESS AND ECONOMIC FORECASTING

Students will learn forecasting tools for microeconomic variables such as sales and profits and macroeconomic variables such as interest rates and GDP growth rates.
Prerequisites:
ECO 375 is a prerequisite for this class.

ECO 312

THE CHICAGO ECONOMY

The first part of this course will focus on changes in the Chicago metropolitan economy over time. Topics to be covered will include the development of the Chicago economy in the 19th Century, modern economic development, land use, and suburbanization. The second part of the course will focus on selected policy issues including poverty, housing, pollution, crime, education, transportation, and taxes.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 313

ECONOMICS OF REGULATION & ANTI TRUST LAWS

Social Control of Business. Relationships between government, business and society. Both the institutional and theoretical aspects of governmental intervention in economic life examined.
Prerequisites:
ECO 305 is a prerequisite for this course.

ECO 314

ECONOMICS OF THE PUBLIC SECTOR

This course discusses market failures and the economic role of government. Topics covered will include: government interventions that correct market failures, the efficiency of government policies, collective decision-making and voting, as well as the theory of optimal taxation and the incentive effects of taxes. Specific government programs such as Social Security and welfare programs are also analyzed. The emphasis is on the revenues, expenditures and policies of the federal government.
Prerequisites:
ECO 305 is a prerequisite for this course.

ECO 316

EUROPEAN ECONOMIC HISTORY

European Economic History. Major factors and institutions which have influenced the economic development of European nations. Impact of these nations on U.S. development is also discussed.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 317

AMERICAN ECONOMIC HISTORY

This course addresses the major factors and institutions which have influenced the economic development of the United States, including differences in regional development, slavery, transportation improvements, western expansion, the rise of large scale business, and government policy responses.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 318

LABOR ECONOMICS AND ORGANIZATION

Historical and theoretical analysis of labor groups and labor market problems (including wage determination, unemployment and discrimination), with particular reference to the dynamic economy of the United States.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 319

ECONOMICS AND GENDER

This course covers economic trends concerning women in the economy and examines economic analyses of gender issues, with special emphasis on gender issues in the work place. The increase in the number of women in the work place has been a major change in labor markets, affecting workers, employers and families. Different economic perspectives are examined to give students an understanding of the range of contributions by economists to this field. The course also examines feminist economics which raises concerns about economic analysis in general and as it is applied to this field.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 320

ECONOMICS OF RELIGION

This course examines selected economic and sociological aspects of religion in society. Some of the topics that are covered include marriage and divorce, fertility and population growth, schooling, church contributions and work.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 321

LAW & ECONOMICS

The overall goal of this course will be to demonstrate how businesses and government interact by surveying the economic and legal aspects of this relationship. This course is designed to prepare students to engage in methods of formal inquiry. The students will examine the American historical aspects of this relationship from the industrial revolution to the present. All topics are discussed with an emphasis on real-world applications and will include: a review of microeconomic theory pertaining to market structures with an emphasis on oligopolies; the history of antitrust; a review of the US legal and political framework; government regulation and key judicial decisions affecting businesses and industries concentrating on the legal and economic logic of those decisions. Class will begin with a discussion of current events once a week and it is expected that each student will attempt to participate and be knowledgeable of what is occurring locally, nationally and internationally.

ECO 325

THE ECONOMICS OF POVERTY

This class addresses society's view of poverty. It begins with an introduction to theories of economic justice for perspective. The introduction is followed by empirical issues related to the measurement of poverty and identification of its causes. An assessment of programs designed to ameliorate the effects of poverty also is covered.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 330

THE ECONOMICS OF SOCIALISM

The origin of socialist economic theory and its relationship to modern economic analysis. Socialist critiques of capitalist economies and capitalist economic theory are developed and related to the theoretical basis for socialism in modern economic theory.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 333

TOPICS IN GLOBAL ECONOMIES

This course provides an introduction to the major changes in the global economy in the twentieth century. It will devote particular attention to comparative analysis of national economic institutions and performance and business conditions, as well as prominent international institutions such as the International Monetary Fund, World Bank, and World Trade Organization. Knowledge of microeconomic and macroeconomic analysis (Economics 105 and 106) will be presumed and applied to global economic flows and national institutions. Selection of countries and case studies from advanced and developing countries will vary according to recent economic developments.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 334

UNDERSTANDING CHINA'S ECONOMY

The expansion of relations between China and foreign enterprises continues to entwine China's economy with those of the world. This course will analyze China's continuing evolution into a global market economy. We will examine China's impact to the world economy and the problems that must be overcome for China to continue its dynamic growth. We will further discuss the characteristics of China's evolution and how they can be extrapolated to other nations undergoing similar transitions.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 335

ENERGY AND ENVIRONMENTAL ECONOMICS

The fundamental problems of resource depletion and environmental deterioration. Alternative methods to achieve an optimal ecological system. Methods of economic analysis include cost-benefit techniques, the role of effluent fees, government subsidies, and legislative action.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 340

DEVELOPMENT OF ECONOMIC THOUGHT

A study of the most influential contributions to our understanding of political economy broadly understood. An historical examination of the development of economic theories with special emphasis placed upon their relevance to present economic and political issues.
Prerequisites:
(ECO 105 or ECO 106), ECO 306 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 360

ECONOMICS OF LOW-INCOME COUNTRIES

This course analyzes economic development issues in low-income countries. Attention is given to several key issues including agricultural and rural development, population growth, human capital, international trade, foreign resource flows, the role of the public sector, and environmental quality.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 361

INTERNATIONAL TRADE

This course deals primarily with the trade side of international economic relations, the gains from trade and barriers to trade. The main objective is the development of analytical tools required for an understanding of the gains from trade and barriers to trade. Particular emphasis is placed on currently pressing issues including the impact of trade on domestic employment and income, international trade tensions, and the rise of regional trade blocks.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 362

INTERNATIONAL MONETARY ECONOMICS

How do fiscal and monetary policy choices change as a country's economy opens more and more to international trade and capital flows? This question and others of international importance will be analyzed with an open-economy, macroeconomic framework. Topics to be explored will include: the foreign exchange market under both fixed and floating exchange rate regimes; the balance of payments, output, prices, and income in an open economy; the international monetary system; and the macro issues of economic development and transition.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 375

INTRODUCTION TO ECONOMETRICS

Techniques of estimation and testing of economic relationships. Probability theory, probability distributions, least squares estimation and correlation.
Prerequisites:
ECO 105, ECO 106 and (MAT 137 or equivalents) are a prerequisite for this class.

ECO 380

MATHEMATICAL ECONOMICS

Review of various mathematical functions useful in formulating economic theories followed by elements of Matrix algebra and its application to concepts of micro and macro economic equalibria. Particular emphasis will be placed on differential calculus, including the use of partial derivatives. These mathematical tools will be applied to optimization problems in micro and macro economic theory.
Prerequisites:
ECO 105, (MAT 135 or equivalent) and (MAT 136 or equivalent) are a prerequisite for this class.

ECO 398

SPECIAL TOPICS

Special Topics. Content and format of this course are variable. All topics will include an in-depth study of current issues in Economics. Subject matter will be indicated in class schedule.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 399

INDEPENDENT STUDY

An Independent Study may be vailable to students of demonstrated capability for intensive independent work in economics. Written permission of supervising faculty member, chair, and director of undergraduate programs is required prior to registration.

ACC 101

INTRODUCTION TO ACCOUNTING I

Introduction to Accounting I, provides an introduction to financial accounting as the means of recording, storing and summarizing economic events of the business enterprise to meet external reporting needs. Emphasis is placed on the preparation and analysis of financial statements and other financial reports to the public based on the accounting equation, accrual accounting concepts, and data gathering techniques. Topics include corporate accounting for current and long term assets and current liabilities, and the corporate income statement.
Prerequisites:
MAT 130 is a prerequisite for this class.

ACC 102

INTRODUCTION TO ACCOUNTING II

Introduction to Accounting II, a companion and sequel course to Accounting 101, continues to explore basic accounting fundamentals and concepts. The course provides an introduction to managerial accounting and internal reporting. Topics include financial accounting for long-term liabilities, the components of stockholders equity, the statement of cash flows, financial statement analysis, budgeting and variance analysis, job costing for the service sector and cost analysis for decision-making.
Prerequisites:
ACC 101 is a prerequisite for this class.

BLW 201

LEGAL & ETHICAL ASPECTS IN THE BUSINESS ENVIRONMENT

Legal and Ethical Aspects in the Business Environment. Study of the nature and philosophy of law including ethical perspectives and fundamental concepts and legal principles of sales contracts, product liability, business organizations, and employment law including ethical and social responsibilities in the managerial process.
Prerequisites:
Sophomore standing is a prerequisite for this class.

ECO 105

PRINCIPLES OF MICROECONOMICS

Principles of Microeconomics. Basic theories of micro (or individual) economic units; the theory of consumer demand, the firm, and distribution; pricing and production in competitive, monopolistic and oligopolistic industries.
Prerequisites:
MAT 130 or equivalent is a prerequisite for this class.

ECO 106

PRINCIPLES OF MACROECONOMICS

Principles of Macroeconomics. Fundamental theories of macro (or aggregate) economics: supply and demand, national income accounting and analysis, and international trade. Analysis of unemployment, and inflation, and policies designed to combat these and other current problems.
Prerequisites:
MAT 130 or equivalent is a prerequisite for this class.

MAT 135

BUSINESS CALCULUS I

Differential calculus of one or more variables with business applications. Formerly BMS 125.
Prerequisites:
MAT 130 or equivalent is a prerequisite for this class.

MAT 136

BUSINESS CALCULUS II (FORMERLY BMS 126)

Integral calculus, matrix algebra, and probability theory with business applications. Formerly BMS 126.
Prerequisites:
BMS 125 is a prerequisite for this class.

MAT 137

BUSINESS STATISTICS

Basic concepts of statistics and applications; data analysis with the use of Excel; theoretical distributions; sampling distributions; problems of estimation; hypothesis testing; problems of sampling; linear regression and correlation. Formerly BMS 142.
Prerequisites:
MAT 136 or equivalent is a prerequisite for this class.

ECO 315

INTRODUCTION TO MONEY AND BANKING

Introduction to Money and Banking. The structure of the American banking system; role of the Federal Reserve System; private financial markets and institutions; the effectiveness of monetary policy, and international finance.
Prerequisites:
ECO 105, ECO 106 and (MAT 130 or equivalent) are a prerequisite for this class.

ECO 101

INTRODUCTION TO ECONOMIC ISSUES

This course will introduce students to basic concepts from both micro- and macroeconomics. The goal is for students to gain an appreciation of how economics can be used to understand the world. Students will enhance their analytical skills by using basic economic concepts to examine current domestic and international issues. Students will improve their oral communication skills during class discussions and debates. This course is intended for non-Commerce students and cannot be counted toward a major or minor in economics.
Prerequisites:
LSP121 or MAT 130 is a prerequisite for this class.

ECO 395

CAPSTONE SEMINAR IN ECONOMICS

A seminar in which students explore how the discipline of economics addresses issues from a different perspective than other disciplines within and beyond the social sciences. This course is the Liberal Studies Capstone Requirement for the LA&S Economics major and is restricted to LA&S economics majors with senior standing.
Prerequisites:
ECO 305, ECO 306 and status as an LAS Economics major with Senior standing is a prerequisite for this class.
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