Economics, B.A. (Behrend)

Program Code: ECNS_BA

Entrance to Major

In order to be eligible for entrance to the Economics major, a student must:

  1. attain at least a C (2.00) cumulative grade-point prior to entrance
  2. have third semester classification; and
  3. the degree candidate must have completed the following entrance-to-major requirements with a grade of C or better: ECON 102 and ECON 104

Degree Requirements

For the Bachelor of Arts degree in Economics, a minimum of 122 credits is required:

Requirement Credits
General Education 45
Electives 22
Bachelor of Arts Degree Requirements 24
Requirements for the Major 44

13 of the 45 credits for General Education are included in the Requirements for the Major. This includes 9 credits of GWS courses; 4 credits of GQ courses.

Per Senate Policy 83.80.5, the college dean or campus chancellor and program faculty may require up to 24 credits of coursework in the major to be taken at the location or in the college or program where the degree is earned.

General Education

Connecting career and curiosity, the General Education curriculum provides the opportunity for students to acquire transferable skills necessary to be successful in the future and to thrive while living in interconnected contexts. General Education aids students in developing intellectual curiosity, a strengthened ability to think, and a deeper sense of aesthetic appreciation. These are requirements for all baccalaureate students and are often partially incorporated into the requirements of a program. For additional information, see the General Education Requirements section of the Bulletin and consult your academic adviser.

The keystone symbol Keystone/General Education Course appears next to the title of any course that is designated as a General Education course. Program requirements may also satisfy General Education requirements and vary for each program.

Foundations (grade of C or better is required.)

  • Quantification (GQ): 6 credits
  • Writing and Speaking (GWS): 9 credits

Knowledge Domains

  • Arts (GA): 6 credits
  • Health and Wellness (GHW): 3 credits
  • Humanities (GH): 6 credits
  • Social and Behavioral Sciences (GS): 6 credits
  • Natural Sciences (GN): 9 credits

Integrative Studies (may also complete a Knowledge Domain requirement)

  • Inter-Domain or Approved Linked Courses: 6 credits

University Degree Requirements

First Year Engagement

All students enrolled in a college or the Division of Undergraduate Studies at University Park, and the World Campus are required to take 1 to 3 credits of the First-Year Seminar, as specified by their college First-Year Engagement Plan.

Other Penn State colleges and campuses may require the First-Year Seminar; colleges and campuses that do not require a First-Year Seminar provide students with a first-year engagement experience.

First-year baccalaureate students entering Penn State should consult their academic adviser for these requirements.

Cultures Requirement    

6 credits are required and may satisfy other requirements

  • United States Cultures: 3 credits
  • International Cultures: 3 credits

Writing Across the Curriculum

3 credits required from the college of graduation and likely prescribed as part of major requirements.

Total Minimum Credits

A minimum of 120 degree credits must be earned for a baccalaureate degree. The requirements for some programs may exceed 120 credits. Students should consult with their college or department adviser for information on specific credit requirements.

Quality of Work

Candidates must complete the degree requirements for their major and earn at least a 2.00 grade-point average for all courses completed within their degree program.

Limitations on Source and Time for Credit Acquisition

The college dean or campus chancellor and program faculty may require up to 24 credits of course work in the major to be taken at the location or in the college or program where the degree is earned. Credit used toward degree programs may need to be earned from a particular source or within time constraints (see Senate Policy 83-80). For more information, check the Suggested Academic Plan for your intended program.

B.A. Degree Requirements

Foreign Language (0-12 credits): Student must attain 12th credit level of proficiency in one foreign language. See the Placement Policy for Penn State Foreign Language Courses.

B.A. Fields (9 credits): Humanities, Social and Behavioral Sciences, Arts, Foreign Languages, Natural Sciences, Quantification (may not be taken in the area of the student's primary major; foreign language credits in this category must be in a second foreign language or beyond the 12th credit level of proficiency in the first language)

Other Cultures (0-3 credits): Select 3 credits from approved list. Students may count courses in this category in order to meet other major, minor, elective, or General Education requirements, except for the General Education US/IL requirement.​

Requirements for the Major

Each student must earn at least a grade of C in each 300- and 400-level course in the major field.

To graduate, a student enrolled in the major must earn a grade of C or better in each course designated by the major as a C-required course, as specified by Senate Policy 82-44.

Prescribed Courses
PSU 7First-Year Seminar Behrend1
Prescribed Courses: Require a grade of C or better
CAS 100Effective Speech Keystone/General Education Course3
ECON 102Introductory Microeconomic Analysis and Policy Keystone/General Education Course3
ECON 104Introductory Macroeconomic Analysis and Policy Keystone/General Education Course3
ECON 302Intermediate Microeconomic Analysis Keystone/General Education Course3
ECON 304Intermediate Macroeconomic Analysis Keystone/General Education Course3
ENGL 202AEffective Writing: Writing in the Social Sciences Keystone/General Education Course3
SCM 200Introduction to Statistics for Business Keystone/General Education Course4
Additional Courses
Additional Courses: Require a grade of C or better
ENGL 15Rhetoric and Composition Keystone/General Education Course3
or ENGL 30
Select 18 credits in BECON, ECNS, or ECON above the 300 level, in consultation with an adviser. (Where appropriate toward a specialized undergraduate field of study, the student may petition the director of the School of Business to take up to a maximum of 6 credits in closely related fields toward a major.)18

Program Learning Objectives

Critical and Integrative Thinking:

  1. Students will be able to think critically by actively considering different points of view and utilize an integrated, holistic approach to construct relevant analyses, arguments, and conclusions.
    1. Students will clearly identify the key issues in the analysis.
    2. Students will present the appropriate analytic framework or warrant.
    3. Students will identify and assess important assumptions and question their validity.
    4. Students will identify and assess the quality of supporting data/evidence & provide additional data/evidence related to the issue.
    5. Students will draw and discusses conclusions, implications, and consequences.
    6. Students will identify key business issues using an integrated approach.
    7. Students will apply appropriate holistic analyses to business issues.
    8. Students will generate solutions that incorporate an integrated perspective to business problems.

Oral Communication:

  1. Upon graduation our undergraduate students in The Sam and Irene Black School of Business will be able to execute the oral communication skills that they have learned in the interactive business courses to business situations where effective explanation, persuasion, exchanging information and ideas are essential.
    1. Students will be able to clearly express their line of thoughts to an audience.
    2. Student will be able to show confidence in their ability to communicate with their audience.
    3. Students will be able to effectively organize their thoughts and clearly communicate their organized thoughts with their audience.
    4. Students will be able to provide accuracy of content in their communication with their audience.
    5. Students will be able to provide depth of content in their communication with their audience.
    6. Students will be able to deliver a professional quality presentation to an audience while using appropriate and supporting technology.
    7. Students will be able to have a professional appearance in front of their audience.

Writing Competence:

  1. Students will be able to demonstrate effective writing skills.
    1. Students will organize written assignments effectively.
    2. Students will develop a clear and well-structured argument.
    3. Students will identify and provide evidence sufficient to support the argument.
    4. Students will find reliable sources and cite and reference them correctly.
    5. Students will demonstrate proper writing mechanics with respect to spelling, punctuation, and grammar.

Teamwork:

  1. Students will be positive contributors to effective team functioning via application of their functional skills in addition to strong interpersonal skills.
    1. Students will be able to recognize the different ways in which their peers contribute to collaborative work.
    2. Students will contribute effectively to teams.
    3. Students will display good interpersonal skills in teamwork contexts.
    4. Students will learn how to interact effectively on teams.

Ethics and Social Responsibility:

  1. Students will be able to recognize ethical issues and apply ethical theories in business situations at individual and/or organizational levels.
    1. Students will recognize ethical issues and the inter-relationships between business and society.
    2. Students will identify stakeholders affected by decisions and actions.
    3. Students will understand the consequences of decisions/actions to stakeholders.
    4. Students will analyze an ethical dilemma applying multiple ethical theories.
    5. Students will be able to correctly apply relevant ethical principles.
    6. Students will be able to recommend a plan of action.
    7. Students will be able to supported recommend action with by ethical analysis/evaluation.

Functional Area Knowledge:

  1. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material across various business domains.
    1. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Accounting domain.
    2. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Economics domain.
    3. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Management domain.
    4. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Quantitative Business Analysis domain.
    5. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Finance domain.
    6. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Marketing domain.
    7. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Legal and Social Environment domain.
    8. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Information Systems domain.
    9. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the International Issues domain.

Functional Area Knowledge (ACCOUNTING):

  1. Students will be able to demonstrate a broad general knowledge of the principles of accounting, both managerial and financial.
    1. Students will be able to perform basic financial accounting transaction analysis.
    2. Students will prepare and interpret general purpose financial statements.
    3. Students will perform financial statement analysis.
    4. Students will apply various principles of managerial accounting.

Functional Area Knowledge (ECONOMICS):

  1. Students will be able to demonstrate a broad general knowledge of the principles of economics, both microeconomics and macroeconomics.
    1. Students will apply concepts associated with free market operations.
    2. Students will conduct decision making based on opportunity costs and marginal analysis.
    3. Students will determine consumer behavior based on various measures of elasticity.
    4. Students will interpret effects associated with the four major market structures.
    5. Students will apply the theory of comparative advantage.
    6. Students will apply the basic market and macroeconomic models to explain changes in price and quantity.
    7. Students will define, calculate, and interpret major economic indicators.
    8. Students will identify and analyze the phases of the business cycle and their characteristics, including the problems associated with each cycle  .
    9. Students will interpret the impact of fiscal policy effects on the macro economy.
    10. Students will interpret the impact monetary policy on the macro economy.
    11. Students will identity how various analytical frameworks, (e.g., classical, Keynesian, monetarist, etc.) used may affect the policy conclusions in debates over stabilization policy.
    12. Students will apply the theory of comparative advantage and the flows of financial assets principle to trade.

Functional Area Knowledge (FINANCE):

  1. Use discounted valuation techniques to make capital investment decisions.
    1. Calculate the NPV for three scenarios (1) base case, (2) best case, and (3) worst case
    2.  Identify relevant initial CFs for NPV calculation
    3. Identify relevant operating CFs for NPV calculation
    4. Identify relevant terminal CFs for NPV calculation
    5. Create and interpret a NPV profile
    6. Analyze and accept or reject a proposed investment project.
  2. Understand the relationship between risk and return for equity and debt.
    1. Understand the trade-off between risk and return for individual assets by computing a beta and required rate of return using the CAPM (Capital Asset Pricing Model).
    2. Explain an appropriate proxy for the market rate of return for the CAPM.
    3. Explain an appropriate risk-free rate proxy for the CAPM.
    4. Calculate cost of debt or YTM of corporate bonds
  3. Determine the required return on a proposed investment.
    1. Calculate and interpret the weighted-average cost of capital (WACC) by estimating the market cost of equity and debt.
    2. Understand when WACC is appropriate as the required return to evaluate a proposed capital investment.

Functional Area Knowledge (MIS):

  1. Students will be able to describe the benefits and challenges of applying information technology in various organizations and functional areas.
    1. Students will describe the benefits and challenges of applying information technology in various organizations and functional areas.
    2. Students will describe management issues and career paths in Information Technology.

Functional Area Knowledge (INTERNATIONAL BUSINESS):

  1. Students will be able to will have basic multidisciplinary knowledge needed to conduct international business and understand the impact of globalization.
    1. Our students will develop an awareness of global issues and diverse cultures.
    2. Our students will be able to analyze how global factors affect decision making.
    3. Our students will be able to use information resources to formulate global strategy.

Functional Area Knowledge (LEGAL ENVIRONMENT):

  1. Students will be able to identify key terms, concepts, and theories of the law, understand how law affects business, demonstrate an ability to analyze legal issues, and apply the law to business situations.
    1. Students will identify key terms, concepts, and theories of law.
    2. Students will analyze legal issues and apply the law to business situations.

Functional Area Knowledge (MANAGEMENT):

  1. Students will be able to demonstrate a broad knowledge of each business discipline, including management.
    1. More particularly, students will be able to identify the correct core concepts in the context of the following 12 main topic areas:
      1. Introduction to / History of Management
      2. Managing in the Global Environment
      3. Decision Making
      4. Planning & Strategy
      5. Organizational Structure & Culture
      6. Managing Human Resources
      7. Individual Attitudes & Behavior
      8. Managing Teams
      9. Motivation
      10. Leadership
      11. Communication
      12. Principles of Control

Functional Area Knowledge (MARKETING):

  1. Students will be able to demonstrate a broad knowledge of marketing discipline.
    1. Students will understand the concept of marketing and marketing philosophies.
      1. Definition of marketing.
      2. Main marketing philosophies (e.g., market orientation, societal market orientation, sales orientation, production orientation).
    2. Students will understand the process of marketing plan and how to set marketing strategies.
      1. Be able to prepare an outline of marketing plan (e.g., SWOT analysis).
      2. Be able to choose an appropriate marketing strategy for different types of firms (e.g., market development, product development, diversification, market penetration).
    3. Students will understand the process of market research.
      1. Be able to choose an appropriate market research design and method for different types of market research questions.
    4. Students will understand buyers and markets.
      1. Be able to understand the mechanism of the buyer behaviors.
    5. Students will understand the concept of target marketing strategy.
      1. Be able to use market segmentation variables for targeting and positioning.
      2. Students will understand the 4P’s (product, price, promotion, place) concepts.
      3. Be able to formulate MARKETING 4P’S DECISIONS.

Functional Area Knowledge (QUANTATIVE BUSINESS ANALYSIS):

  1. Upon graduation our undergraduate students in The Sam and Irene Black School of Business will be able to demonstrate a broad knowledge of business disciplines (quantitative business analysis).
    1. Students will be able to apply the basic rules of probability to assess likelihood within a population.
    2. Students will be able to identify and apply appropriate probability distribution concepts to analyze data.
    3. Students will be able to demonstrate an understanding of correlation and regression analysis.

Functional Area Knowledge (SUPPLY CHAIN MANAGEMENT):

  1. Students will be able to demonstrate a broad knowledge of business disciplines (supply chain management).
    1. Students will be able to apply forecasting methods for demand of a product or service.
    2. Students will be able to apply inventory and planning models for managing operations.
    3. Students will be able to demonstrate an understanding of TQM tools.

Academic Advising

The objectives of the university’s academic advising program are to help advisees identify and achieve their academic goals, to promote their intellectual discovery, and to encourage students to take advantage of both in-and out-of class educational opportunities in order that they become self-directed learners and decision makers.

Both advisers and advisees share responsibility for making the advising relationship succeed. By encouraging their advisees to become engaged in their education, to meet their educational goals, and to develop the habit of learning, advisers assume a significant educational role. The advisee’s unit of enrollment will provide each advisee with a primary academic adviser, the information needed to plan the chosen program of study, and referrals to other specialized resources.

READ SENATE POLICY 32-00: ADVISING POLICY

Erie

Kerry Adzima, Ph.D.
Associate Professor of Economics
276 Burke
Erie, PA 16563
814-898-6096
kak38@psu.edu

Suggested Academic Plan

The suggested academic plan(s) listed on this page are the plan(s) that are in effect during the 2020-21 academic year. To access previous years' suggested academic plans, please visit the archive to view the appropriate Undergraduate Bulletin edition (Note: the archive only contain suggested academic plans beginning with the 2018-19 edition of the Undergraduate Bulletin).

Erie Campus

The course series listed below provides only one of the many possible ways to move through this curriculum. The University may make changes in policies, procedures, educational offerings, and requirements at any time. This plan should be used in conjunction with your degree audit (accessible in LionPATH as either an Academic Requirements or What If report). Please consult with a Penn State academic adviser on a regular basis to develop and refine an academic plan that is appropriate for you.

First Year
FallCreditsSpringCredits
ENGL 15 or ENGL 30‡†3ECON 102*†3
GENERAL EDUCATION COURSE (GQ)3‡†3GENERAL EDUCATION (GQ)3‡†3
GENERAL EDUCATION COURSE33GENERAL EDUCATION COURSE33
GENERAL EDUCATION COURSE33GENERAL EDUCATION COURSE (GHW)31.5
WORLD LANGUAGE LEVEL 14WORLD LANGUAGE LEVEL 24
 PSU 71
 16 15.5
Second Year
FallCreditsSpringCredits
CAS 100 (OR CAS 100A OR CAS 100B OR CAS 100C)‡†3ENGL 202A‡†3
ECON 104*†3GENERAL EDUCATION COURSE33
SCM 200 or STAT 200‡†4GENERAL EDUCATION COURSE33
GENERAL EDUCATION COURSE (GHW)31.5GENERAL EDUCATION COURSE33
WORLD LANGUAGE LEVEL 34GENERAL EDUCATION COURSE33
 15.5 15
Third Year
FallCreditsSpringCredits
ECON 302*3ECON 304*3
ADDITIONAL ECON COURSE*3APPROVED ELECTIVE23
ADDITIONAL ECON COURSE*3APPROVED ELECTIVE (W)23
BA KNOWLEDGE DOMAIN13BA KNOWLEDGE DOMAIN13
GENERAL EDUCATION COURSE33GENERAL EDUCATION COURSE33
 15 15
Fourth Year
FallCreditsSpringCredits
ADDITIONAL ECON COURSE*3ADDITIONAL ECON COURSE*3
ADDITIONAL ECON COURSE*3ADDITIONAL ECON COURSE*3
APPROVED ELECTIVE23APPROVED ELECTIVE23
APPROVED ELECTIVE23APPROVED ELECTIVE23
WORLD CULTURES3BA KNOWLEDGE DOMAIN13
 15 15
Total Credits 122

University Requirements and General Education Notes:

US and IL are abbreviations used to designate courses that satisfy University Requirements (United States and International Cultures).

W, M, X, and Y are the suffixes at the end of a course number used to designate courses that satisfy University Writing Across the Curriculum requirement.

GWS, GQ, GHW, GN, GA, GH, and GS are abbreviations used to identify General Education program courses. General Education includes Foundations (GWS and GQ) and Knowledge Domains (GHW, GN, GA, GH, GS, and Integrative Studies). Foundations courses (GWS and GQ) require a grade of ‘C’ or better.

Integrative Studies courses are required for the General Education program. N is the suffix at the end of a course number used to designate an Inter-Domain course and Z is the suffix at the end of a course number used to designate a Linked course.

Bachelor of Arts Requirements:

Bachelor of Arts students must take 9 credits in Bachelor of Arts (B.A.) Fields (Humanities; Social and Behavioral Sciences; Arts; World Languages [2nd language or beyond the 12th credit level of proficiency in the 1st]; Natural Sciences; Quantification). The B.A. Fields courses may not be taken in the area of the student’s primary major. See your adviser and the Degree Requirements section of this Bulletin.

Bachelor of Arts students must take 3 credits in Other Cultures.
See your adviser and the full list of courses approved as Other Cultures courses.

Career Paths

The decision-making skills that Economics majors learn are needed across all sectors and segments of our economy, so you’ll find employment opportunities in government, business, manufacturing, finance, banking, labor organizations, and academia. Penn State Behrend has a comprehensive support system to help you identify and achieve your goals for college and beyond. Meet with your academic adviser often and take advantage of the services offered by the Academic and Career Planning Center beginning in your first semester.

Careers

Employers of recent Behrend B.A. in Economics graduates include the U.S. Senate, the U.S. Department of Commerce, several Federal Reserve Banks, AIG, American Express Financial Advisers, Fleet Bank of New York, NBC Universal, NBNA Marketing Systems, PricewaterhouseCoopers, and the SAS Institute.

MORE INFORMATION ABOUT POTENTIAL CAREER OPTIONS FOR GRADUATES OF THE ECONOMICS PROGRAM

Opportunities for Graduate Studies

Graduate study allows you to delve deeper into the subdisciplines of economics that interest you most. Examples of master’s- and doctoral-level study include history of economic thought, econometric and statistical modeling, game theory, bargaining theory, market structure and pricing, consumption, monetary policy, international economics, labor economics, environmental economics, transportation economics, and regional economics. Penn State Behrend also offers a hybrid MBA program that can be pursued in Erie and in Pittsburgh, Pennsylvania.

MORE INFORMATION ABOUT OPPORTUNITIES FOR GRADUATE STUDIES

Professional Resources

Accreditation

The Black School of Business is accredited by AACSB International—The Association to Advance Collegiate Schools of Business. As the world’s largest business education alliance, AACSB connects educators, students, and business to achieve a common goal: to create the next generation of great leaders. Synonymous with the highest standards of excellence since 1916, AACSB provides quality assurance, business education intelligence, and professional development services to over 1,500 member organizations and more than 785 accredited business schools worldwide. AACSB’s mission is to foster engagement, accelerate innovation, and amplify impact in business education.

MORE INFORMATION ABOUT THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS

Contact

Erie

BLACK SCHOOL OF BUSINESS
281 Jack Burke Research and Economic Development Center
5101 Jordan Road
Erie, PA 16563
814-898-6107
behrend-business@psu.edu

http://behrend.psu.edu/school-of-business