Economics has been described as the study of the allocation of limited resources to meet unlimited human needs. A major in economics provides the first stage for those interested in graduate work in economics or business. It also offers a background for careers in law, journalism, government and international affairs, teaching, industrial relations, business and business economics, and public service. For up-to-date information on department faculty, the major, course offerings, visiting lecturers and special events, point your web browser to http://www.oberlin.edu/economic/news_content.htm.
Advanced Placement.The department does not give advanced placement credit. Students who believe they have covered the material in Economics 101 (Introduction to Political Economy) must meet with the department chair to obtain written permission to bypass this course and take more advanced courses.
Entry-Level Course Sequence Suggestions. Economics 101 - Introduction to Political Economy is a prerequisite for all further study in the department. Although it is possible to complete the major requirements even if Economics 101 is taken as late as the second semester of the sophomore year, we recommend that potential majors take Economics 101 in their first year, and a second-level applied course (numbered 201-250) and Mathematics 133 - Calculus I by the end of their sophomore year. Economics 251, 253, and 255 should be taken no later than the end of the junior year. Note: Mathematics 133 and 113, in that order, are prerequisites for Economics 255.
Students planning graduate work in economics or business are strongly encouraged to take as much work in mathematics as can reasonably fit into their schedules. Mathematics 133, 134, and Economics 255 should be considered minimal preparation for graduate study in business. Students who plan to enter business directly after graduation also will find these courses desirable. Most students admitted to graduate programs in economics have backgrounds which include a calculus sequence and linear algebra (Mathematics 133, 134, 231, and 232). In addition, training in mathematical statistics and probability is quite common (Mathematics 335 and 336). Those students considering graduate study in economics are advised to take at least one of the advanced Economic Theory and Methods courses (351, 353, or 355).
Major. A major in economics is defined as follows:
1. A minimum of 24 hours in economics including Economics 101, 251, 253, one 300-level course, and one 400-level, upper-class seminar;
2. At least one of Economics 255 or Mathematics 231; and
3. A minimum of 12 hours in other social sciences and mathematics
At least 15 of the minimum 24 hours in economics required for majors must be taken at Oberlin and must include at least two of the following three courses: 251, 253, and 255.
Minor. The minor in Economics consists of at least 15 hours in economics, including Economics 101; at least two of Economics 251, 253, or 255; and one 300-level applied course.
Honors. The department puts special emphasis on its honors program and ordinarily invites up to a quarter of its senior majors to participate. Invitations are extended toward the end of the junior year on the basis of general academic standing and work in the department up to that time. Interested students should consult with a member of the department.
Students wishing to qualify for admission to the honors program must take Economics 251 and 253 before the senior year. In addition, candidates for honors must take Economics 255 by the fall of their senior year and are strongly urged to take it no later than their junior year.
Transfer of Credit. The awarding of transfer credit is at the discretion of the department chair. Two of the following -- Economics 251, 253, and 255 must be taken at Oberlin. Students are advised to get preliminary approval of transfer credit from the department chair prior to taking economics courses elsewhere.
Winter Term. Members of the Economics Department will be available as sponsors of both on-campus and off campus projects. Internships are available for economics majors at a number of government agencies and private firms.
Research Opportunities. Economics majors are eligible to work as research and lab assistants for the Social Science Data Lab (SSDL). The SSDL serves the departments of Anthropology, Economics, History, Politics, and Sociology. SSDL student assistants act as software and data consultants for the Windows NT computer lab located in King 137, obtain, install, and maintain data sets for research use by faculty and students, and serve as research assistants for social science faculty. Interested students should contact the Director of the SSDL. For more information visit the SSDL web page at http://www.oberlin.edu/ssdl. Economics majors are also eligible to work as Albert Rees research assistants and to apply for the Albert Rees Policy Fellowship. Recent Albert Rees Fellows have worked during Winter Term at the President’s Council of Economic Advisors in Washington, D.C. Interested students should contact the department chair.
Phone:(440)775-8483
Fax: 775-6978
