What is Economics?
Alfred Marshall, one of the intellectual giants of economics, defined economics as “... a study of mankind in the ordinary business of life”. As such, microeconomics provides a framework for analyzing decisions made by individuals and firms, especially decisions concerning the allocation of scarce resources and the implications of those decisions for both the decision-maker and the wider society. Macroeconomics, which uses the foundations provided by microeconomics, focuses on the determinants of economic aggregates like the price level and national output and studies the effects of monetary and fiscal policy on these aggregates.
Opportunities in Economics
Areas: Economic Advising and Consulting, Industry & Market Analysis, Forecasting, Research, Teaching
Employers: Financial Institutions, Insurance Companies, Non-Financial Corporations, Government Agencies, Educational Institutions, Trade/Labor Organizations
BA in Economics
The Bachelor of Arts in Economics is a 120-hour program offered to students in the College of Humanities & Social Sciences. A minor in economics is also available in the College of Humanities & Social Sciences.
Those students majoring in economics are required to take Economics 2000, 2010, 2035, 4720, and 4710. Other economics courses (at least 30 semester hours) must be chosen with the advice and approval of the College of Humanities & Social Sciences advisor in the Department of Economics.
To graduate with a minor in economics, students in the College of Humanities & Social Sciences must complete Economics 2030 (or 2000 and 2010), 2035, 4720, 4710, and six additional hours in economics.
Students are required to have a minimum cumulative GPA of 2.0 and the completion of 30 credit hours to be admitted into the program.
- Identify the role of supply and demand in a market economy.
- Identify the necessary conditions for market economies to function well.
- Discuss market system advantages and pricing.
- Understanding of the economic role of government policy and the Federal Reserve.
- Define and analyze economic problems using algebraic and statistical methods.
- Identify the benefits and costs of a global economy.
Empirical Economic Analysis Concentration
An empirical economic analysis concentration is available to BS and BA majors in economics and International Trade & Finance majors. The concentration provides majors with skills in analyzing business and economic data to solve real world problems. See curriculum page for details.
- Energy - The energy minor is administered in the Department of Economics, but is available to any LSU student.
LSU Ogden Honors College provides the opportunity for exceptional students to earn the upper-division honors distinction along with the bachelor's in economics.