USC: New Minor Program in Economics

USC Department of Economics - College of Arts and Sciences
Minor Program in Economics

RATIONALE
The Minor in Economics provides training in economic theory and methods at the intermediate level and at the level of upper class undergraduate field courses. It is designed to provide a student in allied fields of business, the social sciences, the natural sciences, and engineering with a familiarity with the economic perspective and methodology as it is applied on areas of common interest. These areas include but are not limited to, environmental management, financial markets, public management and policy, industrial organization, organizational efficiency and many others. In these areas, an understanding of the nature of the problems being studied is made more acute and complete with an appreciation of the implications of rational human behavior in dealing with the problem of scarce resources and the resulting incentives that ensue. This unique perspective to human behavior, the organization of institutions, and the resulting interplay is something that the discipline brings to the table.

In addition, the minor in economics is especially apt for students whose analytical and methodological skill sets in their majors coincide with those required for work in the economics major, roughly training in mathematical and empirical analysis, that would enable them to grasp economic principles at little added cost but with substantial benefits in terms of employability, workplace efficiency, and upward mobility. This will be especially true of students majoring in mathematics, computer science, physics, chemistry, statistics, and engineering. Increasingly, professionals with these skill sets are being tapped to bring these skills to bear on problems that intersect with those traditionally considered within the purview of the social sciences (e.g., networks, evolutionary games, regulation, financial markets). Opportunities for synergy are ripe in both cases.

The minor in economics will also make the transition to graduate or professional programs in economics, business or public policy easier for students with training other than these fields.

ACADEMIC REQUIREMENTS
1. Qualifying Requirements. A student opting to minor in economics must have completed the principles course sequence in economics consisting of Economics 21 (Microeconomics) and Economics 22 (Macroeconomics). As an alternative, a student who has completed Economics 1N (Principles of Economics with Taxation and Agrarian Reform) may minor in economics provided that his or her academic performance in the course indicates that he will complete the minor program at a standard acceptable to the Department. The Chair, in consultation with the faculty, will render judgment on admission on a case to case basis for the latter case.

2. Completion Requirements. (a) Six units of intermediate economic theory satisfied by taking Economics 121 (Intermediate Microeconomics) or its equivalent, and Economics 122 (Intermediate Macroeconomics) or its equivalent. (b) Nine units in upper level field and methods courses in economics and allowed equivalents.

PROCEDURAL REQUIREMENTS
1. An applicant for the minor program in economics must complete the application form for the program. Upon approval the student will be included in the list of student minors in economics. This will entitle the student to enroll in the listed economics courses in his/her minor program.

2. In all cases, the student must carry the normally required study load of his/her major program. Thus, a student minor in economics must proceed at a pace that is expected in his/her major program.

3. The grant of the credential of a minor in economics will only be possible if the student completes all the requirements for his major program.

4. If the requirements for the major and the minor program in economics are completed to the satisfaction of the Office of the Registrar, the Major Department Chair, the Chair of the Department of Economics, and the Dean(s) of both Programs, the student is recommended for the credential by the Vice-President for Academic Affairs and approved by the University President through the awarding of a Certificate of Completion. The student’s records will then reflect the completion of a “Minor in Economics” along with the student major field.