A: Yes. The economics faculty will offer several first-year seminars this year. For description of theses courses,
click here.
The department also offers many sections of "Introduction to Economics," or ECN-111, which will satisfy an empirical studies/human behavior (HB) requirement. This course uses economic analysis to address a wide variety of topics, from the causes of inflation and recession to minimum wage policy and the legalization of marijuana. Students who are comfortable with quantitative reasoning using basic algebra and two-variable diagrams (graphs), and who have an interest in economics, business, or public policy, might wish to consider taking ECN-111 in their first or second semester at Furman. ECN-111 is also an excellent course for students who are considering pre-law. If you go on to major in economics, mathematics-economics, business, or urban studies, you'll need to take ECN-111 as part of your major.
If you have received AP credit for both Microeconomics and Macroeconomics, you may wish to take a 200-level course, such as Economics of Gender, Urban Economics, International Trade, Labor Economics, or another topics-oriented economics course. This will help reinforce your theoretical skills and give you a feeling for how economists think about major policy and business issues. Most of our 200-level courses satisfy an empirical studies/human behavior (HB) requirement.
Q: I received AP credit for Microeconomics but not Macroeconomics (or Macroeconomics but not Microeconomics). Which economics course should I take first?
A: You should take Introduction to Economics (ECN-111) since it covers both microeconomics and macroeconomics. While a portion of this course will be review for you, the rest of it will present new material that may be used in subsequent courses.
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Q: I have heard that economics courses use a lot of math. Is that true?
A: Yes and no. Although our first-year seminars and Introduction to Economics courses use basic quantitative reasoning (e.g., By how much will gasoline consumption fall if the price rises by 10%?), algebra and graphing are the primary mathematical skills used in these courses. As you move into intermediate theory (ECN-345, ECN-346), basic differential calculus and optimization techniques will be used. In our Statistics (ECN-225) and Empirical Methods (ECN-331) course, various statistical analysis techniques are introduced.
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Q: In addition to the empirical studies-human behavior (HB) category, do economics courses satisfy any other general education requirements?
A: Yes. But first note that most of our two-hunderd level courses satisfy the human behavior requirement (HB). In addition, the department is offering several first-year seminars (FYS and FYW), and our statistics course, ECN-225, satisfies the mathematical and formal reasoning requirement (MR). The world cultures requirement (WC) can be satisfied with Economics of China (ECN-251), Economic Growth and Development (ECN-243), or Asian Economics (ECN-249... pending approval by the Academics Policies Committee). Economics of the Environment (ECN-236) and Population, Economy, and Society (ECN-235/SOC-221) will receive credit for the Humans and their Natural Environment (NE) requirement.
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Q: When is a good time to declare a major in economics?
A: After you have taken ECN-111, Introduction to Economics, and perhaps one other 200-level economics course, you will have a pretty good sense of what your interest in and aptitude for economics is. If you think you might want to major in economics, contact
Ken Peterson, Chair of the Economics Department, to talk about the opportunities in the department and what you can do with an economic major after graduation. His phone number is 864-294-3043. Many students choose to declare a major sometime during their second year at Furman, although some wait until early in their third year and others declare during their first year.
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Q: Which majors do you offer?
A: The Department of Economics offers majors in economics and mathematics-economics (in cooperation with the Math Department). We also participate in three interdisciplinary concentrations:
Women's Studies,
Environmental Studies, and Poverty Studies, and one interdisciplinary major: Urban Studies.
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Q: How do I declare a major?
A: Contact the department chair in the department in which you wish to major. He or she will meet with you and help you complete the major declaration. In economics, the process takes about fifteen minutes. In economics email
Ken Peterson or call him at 864-294-3043.
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Q: Where can I find out more about the economics department and majors?
A: Go to www2.furman.edu/academics/economics/Pages/default.aspx or meet with the department chair, Ken Peterson. He can be reach by
email or phone at 864-294-3043.
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Q: What can I do with an economics major?
A: The economics major helps students develop strong analytical skills that can be applied to a wide variety of careers in business, government and not-for-profit organizations. About twenty percent of Furman economics majors go to law school. About one third enter a career in the financial industry (investments, banking, corporate finance, real estate, and insurance) immediately after graduation. The rest pursue a diverse and interesting set of opportunities, which have included urban planning and regional economic development, consulting, starting a business, medical school, and not-for-profit work at institutions such as Teach for America. A number of students go back for an MBA after several years of work experience. One of the advantages of the economics major is that it helps develop skills that can be applied to many different careers.
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