Economics Mission:
The Economics major in the Division of Business at Missouri Valley College aspires to support the mission of the College by initiating and promoting intellectual inquiry and understanding of the canons and mores of the economic discipline through personal instruction.
Learning Outcomes:
- Demonstrate an understanding of Microeconomic theory and model demand and supply functions both graphically and algebraically .
- Calculate and apply measures of opportunity cost using various elasticity constructs.
- Using revenue and cost models determine probable profit levels for different market types.
- Demonstrate an understanding of Macroeconomic theory using common measures of economic output, growth, and inflation
- Understand and explain the structure of the Federal Reserve System and the underlying mechanics of monetary and fiscal policies.
- Identify and discuss current and historical theories of international trade.
- Understand and apply key concepts in the business core of accounting, finance, business law, management, marketing, and quantitative analysis
Major Assessment: The current process for all majors in the Division of Business is to take the Educational Testing Services’ Business Test. The test is given as a pre-test to students enrolled in BA 212, Principles of Management. This course is required of all Division majors. The test is also given as a post-test to all graduating seniors in the Division toward the end of their last semester.
Major Requirements
Business core +
AC210, AC220, EC206, EC216, BA212, BA232, BA282.
EC335, EC375, EC385, EC435, EC450, EC455, BA302, BA322, BA324, MA185, BA442 OR EC485.
+ 3 hours of electives in Accounting, Business Administration, or Economics at the 300 level or above. Required or elective hours taken for one Business Division major, concentration, or minor cannot be used to satisfy elective requirements in another Business Division major, concentration or minor.