Economics
Program Advisor: Ingrid Peters-Fransen, Ph.D. (Candidate.) (web page)
Adjunct Professor of Economics


Ingrid Peters-FransenEconomics is the inquiry into how societies organize themselves to provide for the material needs and wants of their members. Throughout most of human history, societies provided for the material needs of their members by hunting and gathering. The modern market economy is a relatively new development.

Studies in Economics at CMU focus on assessing the strengths and weaknesses of the modern market economy to provide for the material needs and wants of the world, and also inquires into how Christians should participate in that economy. Studies in economics prepare you for a career in business, financial services, government, and international organizations.

At CMU, you can study Economics as a minor (minimum 18 credit hours) within the Bachelor of Arts degree.

Go here for information about the requirements of this program
For specific questions about this program, contact the Program Advisor.

Find below a list of courses CMU offers in the field of Economics. The introductory courses are offered each year. Other courses are offered occasionally. Students who wish to complete a minor in Economics will go as visiting students to other universities to complete some requirements.

Courses

The following section contains a complete list of courses for its curriculum. For current course listings please see the Course Description section of our website.

ECON-1000/3 Introduction to Macro-economics (Formerly: 22.100/3): An analysis of contemporary economic
institutions and the application of macro-economic theory to current economic problems. The course will consider
economic theories of the determination of national income, governmental monetary and fiscal policy, the role of money
and the banking system, international trade and the determination of foreign exchange rates.

ECON-1010/3 Introduction to Micro-economics (Formerly: 22.101/3): An analysis of contemporary economic
institutions and the application of micro-economic theory to current economic problems. The course will consider
economic theories of production, consumption and exchange, price determination and the role of competition.

ECON/IDS-2010/3 Economics of Development (Formerly: 22/30.201/3): This course introduces neoclassical and
alternative economic theories relevant to understanding various aspects of development: (i) national aspects,
including theories of growth, inequality, labour, and the role of the state; (ii) international aspects, including theories of
finance, international financial institutions, trade and globalization; and (iii) sub-national aspects of development,
including theories of growth linkages, micro-credit and community economic development. Prerequisites: IDS-1020/3
or former IDS-1100/6 or both ECON-1000/3 and 1010/3.

ECON-2400/3 History of Economic Thought— Macroeconomics (Formerly: 22.240/3): An examination of
the development of economic theory from ancient times until the present. This course will deal with theories of
money, interest, and banking, focusing on the period from the mid-eighteenth to the early twentieth century.
Prerequisite: ECON-1000/3 or permission of the instructor.

ECON-2410/3 History of Economic Thought— Microeconomics (Formerly: 22.241/3): An examination of the
development of economic theory from ancient times until the present. This course will deal with theories of private
property, exchange, value, and distribution, focusing on the period from the mid-eighteenth to the early twentieth
century. Prerequisite: ECON-1010/3 or permission of the instructor.

ECON-2950/3 Topics in Economics (Formerly: 22.295/3): The content of this course will vary from year to year, depending on the needs of students and the interests and availability of instructors. Prerequisite: ECON-1000/3 or 1010/3.

BUSI/ECON-3500/3 International Business and Economics: This course examines economic theory and its application to business in an international context. The course will address social, environmental, ethical and economic issues associated with international business, including the interaction between government and business. Prerequisites: Two of ECON-1000/3, ECON-1010/3, or BUSI-1000/3

ECON-4940/3 Independent Study in Economics (Formerly: 22.494/3): A study in a specific area of Economics under the direction of a faculty member. Prerequisites: ECON-1000/3 and 1010/3; an additional nine credit hours in Economics, and a minimum of 60 credit hours of post-secondary education.