Economics

Luis Fernandez, Professor; Department Chair

David L. Cleeton, Professor and Associate Provost

Barbara J. Craig, Professor

Hirschel Kasper, Professor

Kenneth N. Kuttner, Danforth-Lewis Professor

Jonathan Lipow, Visiting Associate Professor

Paul Pahoresky, Visiting Lecturer

Jordan Suter, Assistant Professor of Economics and Environmental Studies

Economics has been described as the study of the issues arising from the allocation of limited resources to meet society’s unlimited human wants. A major in economics provides the first stage for those interested in graduate work in economics or business. It also offers a rounded 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 go to www.oberlin.edu/economic.

Advanced Placement.

The department does not give advanced placement credit. Students who have scored 4 or 5 on both AP microeconomics and macroeconomics or who believe they have covered the material in Economics 101 (Principles of Economics) through an International Baccalaureate program, may obtain permission from the department chair, to bypass Economics 101 to take more advanced courses.

Entry-Level Course Sequence Suggestions.

Principles of Economics (Economics 101) 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 200-level applied course (numbered Economics 201-250) and Calculus I (Mathematics 133 or its equivalent) by the end of their sophomore year. Core courses in intermediate theory and methodology (Economics 251, 253, and 255) should be completed no later than the end of the junior year. Note: Statistics (Mathematics 113) is a prerequisite for Economics 255, and Calculus I (Mathematics 133) is a prerequisite for many economics courses numbered 251 or higher.

Students planning graduate work in economics, public policy or business are strongly encouraged to take as much work in mathematics as can reasonably fit into their schedules. A one year sequence in Calculus (Mathematics 133 and 134 ) and Econometrics (Economics 255) should be considered minimal preparation for graduate study in business or public policy. Students who plan to enter business directly after graduation also will find these courses desirable. Students considering graduate programs in economics are strongly encouraged to do the Mathematical Economics Concentration, which is described below.