Undergraduate Programs in Economics

The economics major is a four-year liberal arts degree program leading to either a bachelor of arts or a bachelor of science. The first two years are spent completing a set of general education requirements that include courses in English, mathematics, physical and social science, humanities and fine arts. The bachelor of arts also requires study of a modern foreign language. The last two years are used to complete the required upper-level courses in economic theory and applications to various fields, such as money and banking, international trade, and comparative economic systems. As with all major degree programs at Murray State, an outside minor must also be completed to broaden the student's undergraduate education. Economics majors can choose from a wide variety of minors, including international studies; history; political science; mathematics; English; or any of the traditional business disciplines, such as accounting, marketing, management or finance. In addition, the economics major allow for a significant number of upper-level elective courses, giving students a great deal of flexibility in designing their own personalized degree program in consultation with their adviser.

For those students wishing to major in another field, the Department of Economics and Finance also offers minors in economics, international economics and business economics. These minors would nicely complement any other liberal arts major and provide the student with a solid core of economics courses that could be counted toward most M.B.A. degree programs after graduation.

Note: The College of Business strongly encourages students in its business programs to study abroad.  The courses marked with an asterisk are commonly taught in summer study abroad programs such as KIIS and CCSA and each fall in the Semester in Regensburg program in Germany. BPA 396: Seminar in International Business, a business elective, is frequently taught in all these settings as well as in the International Business Seminar programs over the Christmas break and in the summer. ACC 586: International Experience in Accounting is routinely offered over Spring Break as an Accounting Elective. Consult your academic advisor to determine the study abroad opportunity which best fits your needs and schedule.

> Major in Economics

University Studies Requirements: 38-47 hours

Oral and Written Communication: 7 hours
  • COM 161 [or HON 165] - 3 hours
  • ENG 105 [or ENG 150] - 4 hours
Global Awareness, Cultural Diversity, and the World's Artistic Traditions
B.A.: 9 hours
  • Modern language course (single language), attaining a 202-level proficiency - 6 hours
    To reach proficiency at the 202-level, a student may have to complete up to six hours of 100-level prerequisites.
  • One University Studies elective in this category - 3 hours
B.S.: 3 hours
  • One University Studies elective in this category - 3 hours
Scientific Inquiry, Methodologies, and Quantitative Skills
B.A.: 7-10 hours
  • One University Studies science course with lab -- 4-5 hours
  • One University Studies mathematics course -- 3-5 hours
BS: 10-15 hours
  • One University Studies science course with lab -- 4-5 hours
  • One University Studies mathematics course -- 3-5 hours
  • One University Studies science or mathematics course -- 3-5 hours
Selections must include:

MAT 220 Business Calculus -- 3 hours
or
MAT 250 Calculus and Analytic Geometry I -- 5 hours

Social and Self-Awareness and Responsible Citizenship: 6 hours
  • One Ethics, Social Responsibility and Civic Engagement category course -- 3 hours
  • ECO 230 Principles of Macroeconomics -- 3 hours
World’s Historical, Literary, and Philosophical Traditions
B.A.: 9 hours
  • CIV 201 or CIV 202 [or HON 201 or 202] -- 3 hours
  • HUM 211 [or HON 251] -- 3 hours
  • One University Studies elective in this category - 3 hours
B.S.: 6 hours
  • CIV 201 or CIV 202 [or HON 201 or 202] -- 3 hours
  • HUM 211 [or HON 251] -- 3 hours
University Studies Electives
  • CSC 199 Introduction to Information Technology -- 3 hours
  • ECO 231 Principles of Microeconomics -- 3 hours

Required Courses: 26 hours

  • ACC 200 Principles of Financial Accounting -- 3 hours (for B.S. only)
  • ECO 305 Money and Banking -- 3 hours
  • ECO 330 Intermediate Macroeconomics -- 3 hours
  • ECO 331 Intermediate Microeconomics -- 3 hours
  • ECO 460 International Trade and Finance -- 3 hours
  • ECO 498 Research Methods in Economics -- 3 hours
  • ECO 499 Senior Seminar in Economics -- 3 hours
  • FTR 100T Transitions -- 1 hour
  • STA 135 Introduction to Probability and Statistics -- 4 hours
    or
  • CIS 243 Business Statistics I -- 2 hours
    and
  • CIS 343 Business Statistics II -- 2 hours

Required Limited Electives: 9 hours

300-level or higher (except ECO 310), ECO electives approved by advisor.

Required Minor: 21 hours

Economics majors may select a minor from any business or non-business discipline, excluding any economics minor. If any course is required in the major and minor, a substitute course must be approved by an advisor to gain the total degree program hours.

Unrestricted Electives: 17 - 26 hours

Total Curriculum Requirements: 120 hours

> Major in Economics/Social Studies Certification (Grades 8-12)

University Studies Requirements: 38-47 hours

Oral and Written Communication: 7 hours
  • COM 161 [or HON 165] - 3 hours
  • ENG 105 [or ENG 150] - 4 hours
Global Awareness, Cultural Diversity, and the World's Artistic Traditions
B.A.: 9 hours
  • Modern language course (single language), attaining a 202-level proficiency - 6 hours
    To reach proficiency at the 202-level, a student may have to complete up to six hours of 100-level prerequisites.
  • One University Studies elective in this category - 3 hours
B.S.: 3 hours
  • One University Studies elective in this category - 3 hours
Scientific Inquiry, Methodologies, and Quantitative Skills
B.A.: 7-10 hours
  • One University Studies science course with lab -- 4-5 hours
  • One University Studies mathematics course -- 3-5 hours
BS: 10-15 hours
  • One University Studies science course with lab -- 4-5 hours
  • One University Studies mathematics course -- 3-5 hours
  • One University Studies science or mathematics course -- 3-5 hours
Selections must include:

MAT 220 Business Calculus -- 3 hours
or
MAT 250 Calculus and Analytic Geometry I -- 5 hours

Social and Self-Awareness and Responsible Citizenship: 6 hours
  • One Ethics, Social Responsibility and Civic Engagement category course -- 3 hours
  • ECO 230 Principles of Macroeconomics -- 3 hours
World’s Historical, Literary, and Philosophical Traditions
B.A.: 9 hours
  • CIV 201 or CIV 202 [or HON 201 or 202] -- 3 hours
  • HUM 211 [or HON 251] -- 3 hours
  • One University Studies elective in this category - 3 hours
B.S.: 6 hours
  • CIV 201 or CIV 202 [or HON 201 or 202] -- 3 hours
  • HUM 211 [or HON 251] -- 3 hours
University Studies Electives
  • CSC 199 Introduction to Information Technology -- 3 hours (With a grade of C or better.)
  • ECO 231 Principles of Microeconomics -- 3 hours
Note: Certification requires a grade of B or better in one English composition course and a C or better in a University Studies math course, public speaking, and EDU 103 or equivalent course. Additional requirements for admission to teacher education and student teaching must be met. See advisor and/or Office of Teacher Education Services for details.

Required Courses: 26 hours

  • ACC 200 Principles of Financial Accounting -- 3 hours (May be used as a University Studies elective for B.S.)
  • ECO 305 Money and Banking -- 3 hours
  • ECO 330 Intermediate Macroeconomics -- 3 hours
  • ECO 331 Intermediate Microeconomics -- 3 hours
  • ECO 460 International Trade and Finance -- 3 hours
  • ECO 498 Research Methods in Economics -- 3 hours
  • ECO 499 Senior Seminar in Economics -- 3 hours
  • FTR 100T Transitions -- 1 hour
  • STA 135 Introduction to Probability and Statistics -- 4hours
    or
  • CIS 243 Business Statistics I -- 2 hours
    and
  • CIS 343 Business Statistics II -- 2 hours

Required Limited Electives: 9 hours

300-level or higher (except ECO 310), ECO electives approved by advisor.

Required Courses for Certification: 38 hours

  • EDP 260 Psychology of Human Development -- 3 hours (May be used as a University Studies elective for B.S.)
  • EDU 103 Issues and Practices of American Education -- 3 hours
  • EDU 303 Strategies of Teaching -- 3 hours
  • EDU 403 Structures and Foundations of Education -- 2 hours
  • EDU 405 Evaluation and Measurement in Education -- 2 hours (Must be taken together and two semesters before student teaching.)
  • SEC 420 Practicum in Secondary Schools -- 2 hours
  • SEC 421 Student Teaching in the Secondary School -- 14 hours
  • SEC 422 Extended Practicum -- 3 hours (Must be taken one semester before student teaching.)
  • SED 300 Educating Students with Disabilities -- 3 hours

Required Minor: 21-24 hours

Choose either geography, history, political science or social science minor. Social science minor is strongly recommended.

Note: If any course is required in the major and minor, a substitute course must be approved by an advisor to gain the total degree program hours.

Total Curriculum Requirements: 132-142 hours

> Minors

Economics: 21 hours

  • ECO 230 Principles of Macroeconomics -- 3 hours
  • ECO 231 Principles of Microeconomics -- 3 hours
  • ECO 305 Money and Banking -- 3 hours
  • ECO 330 Intermediate Macroeconomics -- 3 hours
  • ECO 331 Intermediate Microeconomics -- 3 hours
  • Six hours of business electives (may include ECO and FIN) approved by advisor.

Six hours must be upperlevel courses completed in residence at Murray State University.

Business Economics: 22 hours

  • ACC 200 Principles of Financial Accounting -- 3 hours
  • CIS 243 Business Statistics I -- 2 hours
  • CIS 343 Business Statistics II -- 2 hours
  • ECO 230 Principles of Macroeconomics -- 3 hours
  • ECO 231 Principles of Microeconomics -- 3 hours
  • ECO 305 Money and Banking -- 3 hours
  • ECO 330 Intermediate Macroeconomics -- 3 hours
  • ECO 331 Intermediate Microeconomics -- 3 hours

Six hours must be upper-level courses completed in residence at Murray State University.

International Economics: 21 hours

  • ECO 230 Principles of Macroeconomics -- 3 hours
  • ECO 231 Principles of Microeconomics -- 3 hours
  • ECO 315 Comparative Economic Systems -- 3 hours
  • ECO 410 Economic Development -- 3 hours
  • ECO 460 International Trade and Finance -- 3 hours
  • Six hours of closely related upper-level electives, with a significant international dimension, as approved by advisor.

Six hours must be upperlevel courses completed in residence at Murray State University.

Social Science: 24 hours

Open only to majors in economics, geography, history, or political science who seek secondary certification in social studies.
  • ECO 231 Principles of Microeconomics -- 3 hours
  • GSC 110 World Geography -- 3 hours
  • HIS 221 American Experience to 1865 -- 3 hours
  • HIS 222 American Experience Since 1865 -- 3 hours
  • POL 140 American National Government -- 3 hours
  • SOC 133 Introduction to Sociology -- 3 hours
  • Six hours of upper level courses (300 or above) from the social science disciplines with approval of advisor.

Courses required for a major may not be counted toward the minor; substitutions must be from a social science discipline other than the major and be approved by the advisor; and requirements for certification for teaching secondary school social studies, grades 8 through 12 through the College of Education and Human Services must also be met.