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Department of Economics

Faculty:

Niloufer Sohrabji, Chair and Associate Professor

Masato Aoki, Associate Professor

Carole Biewener, Professor

Zinnia Mukherjee, Assistant Professor

Mark Valentine, Administrative Assistant

Overview:

Decision-makers in business, government, and the nonprofit sector evaluate complex economic issues. Intelligent citizenship makes increasing demands on an individual’s knowledge of economics. Finally, the analytical tools of economics are increasingly important to studies of health care and educational systems, the environment, sustainable resource use, food systems, gender and racial inequality, technology, economic policy, international relations, economic justice, and other domestic and global issues of public and private life.

The major in economics provides students with an excellent background for careers in finance, industry, government, and the nonprofit sector. In addition, it prepares students for graduate work in many disciplines, including economics, law, business, and public policy. Economics majors develop institution- al knowledge about the business world, the domestic and global economic environment in which businesses, households, and communities operate. Majors also come to understand how governmental policies affect overall economic activity along with businesses, workers, and communities. Further, economics majors distinguish themselves by their ability to analyze complex economic and social issues and to communicate the results of their analysis through writing and oral presentation.

The Economics Department annually offers the Econnect program, a series of interactive programs aimed at helping students’ success- fully transition to careers or graduate study. Since 2001, Econnect features the annual Economics Student-Alumnae Networking Dinner, at which Economics alumnae engage in structured and friendly networking with current students. Outcomes include job offers, first interviews, internships, lessons in effective networking practices, advice about graduate programs, and networking beyond the Simmons community. In other Econnect activities, alumnae participate in skill-development workshops in interviewing, negotiating, LinkedIn, and preparation for graduate study.

The Department’s Internship program further supports the student’s exploration of career interests and provides practice in interviewing, résumé preparation, networking, research, and the opportunity to apply in a professional setting the analytical and communication skills they have developed in their Economics coursework.

The two-course introductory sequence (ECON 100 & ECON 101) provides students with conceptual frameworks for understanding and evaluating the U.S. economy from theoretical, historical, and global perspectives. Intermediate microeconomics and macroeconomics (ECON 200 & ECON 201) rigorously present major theoretical approaches and their analytical applications and policy implications. Economics electives (ECON 124 through ECON 393) extend theoretical and empirical analyses to various aspects of the U.S. and international economies. ECON 393 Econometrics applies mathematical principles and statistical techniques to the analysis of economic issues. The department’s internship supervisor places students in internships (ECON 370) where they develop and apply their skills and knowledge in a professional, research, or policymaking setting. The senior thesis (ECON 355) challenges intellectually ambitious majors to propose, research, and write a defensible thesis; the thesis is the culminating product of a two-semester project and prepares students for graduate-level work, and qualifies the student for consideration for Honors in economics. Economics is complemented by other fields of study in the liberal arts and sciences and in the professional areas. According to their individual interests, strengths, and priorities, students might consider either double-majoring in economics and a complementary discipline or combining the economics major with a minor; the variety of possible combinations reflects the intellectual and aspirational diversity of the Simmons student body. In addition, the department collaborates with other departments in offering courses in East Asian studies, Environmental Science, International Relations, Public Policy, Sustainability, and Women’s and Gender Studies. Depending on their areas of special interest and future plans, students might consider the joint major in economics and mathematics, the joint major in financial mathematics, and the minor in public policy studies.

The minor in economics complements the student’s major area of study. The minor provides a survey of economic analysis or a focused concentration in particular fields of economic study such as the economics of the environment and sustainability, international economics, monetary economics, social analysis, gender, or public policy.

Learning Outcomes:

Economics Major Learning Outcomes:

  1. To acquire knowledge of economic concepts, institutions, theories, models, and methodologies, and to demonstrate competency in applying this information to analyze economics events and to evaluate alternative economic policy initiatives.
  2. To develop and demonstrate an ability to access and retrieve economic data and information, to manipulate and interpret critically such information, and to identify key relationships among economic data and behaviors.
  3. To develop and demonstrate economic literacy through discussion and creative synthesis of economics articles which apply and integrate data, quantitative tools, theoretical models, and policy prescriptions.
  4. To refine and demonstrate analytical and critical thinking skills, including logical reasoning and the abilities to apply and interpret quantitative, qualitative, and graphical information in a problem-solving context.
  5. To develop and demonstrate the critical thinking skill of comprehending the logical construction of theories and, on that basis, comparing competing explanations and policy implications.
  6. To develop and demonstrate an understanding of heterodox approaches to economics and to engage in the study of economics in an interdisciplinary context.
  7. To apply course material and analysis in new areas or in new ways, including formulating and conducting economic research and presenting this research both orally and in writing in a polished, professional manner.

Joint Major in Economics and Mathematics Learning Objectives:

  1. To understand the basic concepts and techniques in core content areas of mathematics and statistics, and to comprehend and articulate economic concepts.
  2. To acquire knowledge of economic concepts, institutions, theories, models, and methodologies including econometrics, and to demonstrate competency in applying this information to analyze economics events and to evaluate alternative economic policy initiatives.
  3. Ability to use the knowledge of mathematics, statistics and economics to build theoretically sound economic models, choose relevant data, use appropriate modeling tools and software, and critically interpret the results.
  4. Ability to communicate mathematical and economic ideas clearly and precisely.
  5. Ability to independently read and learn economic issues expressed and analyzed through mathematical models and techniques.
  6. To develop and demonstrate the critical thinking skill of comprehending the logical construction of theories and, on that basis, comparing competing explanations and policy implications.

Departmental Honors:

Candidacy for honors in economics requires a minimum GPA of 3.67 in economics courses and a thesis proposal, which must be approved by the department normally in the student’s junior year. The honors candidate must complete ECON 350 Independent Study and ECON 355 Thesis. Upon completion of the thesis, the department will determine whether the thesis merits designation of honors in economics.

Recommendations:

The student should work closely with her faculty advisor, who can provide invaluable assistance in various aspects of the student’s success. First, the student may seek guidance in selecting economics courses that focus on a particular field of interest within economics such as the economics of the environment and sustainable resource use, international economics, monetary economics, social analysis, gender, or public policy. Second, the advisor may help the student identify non-economics courses that would enhance the student’s intellectual growth according to their interests, strengths, and goals. Third, the student may want assistance in identifying student organizations or other co-curricular activities that would enhance their study and application of economics. Fourth, the advisor may assist the student in planning and preparing for graduate study or careers. Students considering graduate study in economics or related fields should take ECON 393 and courses in calculus and possibly other areas of mathematics; they should also consider various options that combine economics and mathematics, including the joint major in Economics and Mathematics. Economics majors must also complete a four-credit Capstone in order to fulfill the all-College requirement. While the capstone requirement may be completed in other departments, students are encouraged to complete the requirement within economics. The capstone may be met within the department through ECON 355 Thesis, ECON 370 Internship, ECON 390 Special Topics, and ECON 393 Econometrics. ECON 355, and ECON 370 do not count toward the 16-semester hour elective requirement for the economics major. If used for the Capstone, ECON 390 and ECON 393 also do not count toward the elective requirement.