Barbara J. Craig, Chair and Professor of Economics
Ron Cheung, Associate Professor of Economics
Christopher Cotter, Assistant Professor of Economics
Hirschel Kasper, Professor of Economics
Edward McKelvey, Visiting Professor of Economics
Paul Pahoresky, Visiting Instructor in Economics
Evan Plous, Assistant Professor of Economics
Viplav Saini, Associate Professor of Economics
Martin Saavedra, Assistant Professor of Economics
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 good background for careers in law, journalism, government and international affairs, teaching, industrial relations, 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 http://new.oberlin.edu/arts-and-sciences/departments/economics/index.dot.
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.
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. We recommend, also, that potential majors take a 200-level applied course (numbered Economics 201-250), calculus and statistics 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 is a prerequisite for Economics 255; this may be satisfied by STAT 113 or STAT 114. Calculus I (MATH 133) is a prerequisite for almost all economics courses numbered 250 or higher; this may be satisfied through MATH 133, by AP Calculus or by taking a two semester sequence (MATH 131 and MATH 132). If the AP score on calculus satisfies the Mathematics Department criteria for granting college credit in statistics or calculus, you will have satisfied the prerequisite for our courses and the calculus major requirement.
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.