2024-2025 Catalog 
  
    May 29, 2024  
2024-2025 Catalog

Economics (ECON-MNR-BU) Minor

Location(s): Ferris Main Campus


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Minor

This minor is designed for students who wish to gain a deeper understanding of how economics impacts our daily lives and shapes the world around us. Economics proves to be an invaluable addition to the study of any discipline. Each of us makes many decisions on a daily basis that ultimately determine thecourse of our lives and affect the lives of the people around us. The Economics minor helps to prepare students for the world in which they are entering by providing them with a framework that they can use to understand the world around them, the analytic tools to figure out emerging trends in consumer data, and the ability to understand the trade-offs necessary when making difficult decisions.

Program Outcomes


  1. Analyze individual, household, firm, and government behavior using the core elements of the economic way of thinking which include rational choice theory, marginal analysis, cost-benefit analysis, trade-offs and opportunity costs, utility, and profit maximization.
  2. Analyze macroeconomic changes and business cycles using the various economic theories, including but not limited to the Classical and Keynesian Theories. Evaluate the efficacy of common policy responses to macroeconomic changes, including but not limited to the effect of monetary, fiscal, and trade policies.
  3. Apply intermediate microeconomic theory to explain various market structures and firm behavior. Evaluate the efficiency of managerial decisions under different constraints.
  4. Distinguish between different schools of economic thought and compare economics arguments with different conclusions on a specific issue or problem, and assess the role played by assumptions in arguments that reach different conclusions on a specific economic or policy problem.
  5. Conduct original research to build an argument using economic theory to answer a question (or make a prediction) where an answer is unclear or no clear answer exists. Present original economic arguments in both quantitative and non-quantitative forms.

Admission Requirements


This minor is open to all students enrolled in a baccalaureate degree program, and may only be awarded to those not pursuing a degree in this subject area.

New Student Admission Requirements


Students must be admitted to Ferris State University and pursuing a bachelor’s degree.

Transfer Student Admission Requirements


Students must be admitted to Ferris State University and pursuing a bachelor’s degree.

All Minor Requirements - 18 Credits Required


Minor Courses - 6 Credits Required


Notes


  • Students who return to the university after an interrupted enrollment, not including summer semester, must normally meet the requirements of the curriculum which are in effect at the time of their return, not the requirements which were in effect when they were originally admitted.
  • Credit Variance - Credits required may vary based on course placement, prerequisites, etc. If you have questions, contact your advisor.

Graduation Requirements


In order to graduate from Ferris State University, students must meet both University and Programmatic Graduation Requirements.

University Graduation Requirements


These are the minimum graduation requirements for a minor at Ferris State University:

  • A GPA of 2.00 or higher must be achieved for the courses within the minor.
  • A minimum of 18 credits within the minor must be earned.
  • A minimum of 50 percent of minor credits must be earned from Ferris State University to meet the Residency requirement.
  • A minimum of 9 of the credits in the minor must be at the 200 level or higher.
  • A maximum of one-third of the credits, but no more than 7 credit hours, in a minor may overlap with the student’s major.
  • Up to 6 credit hours may overlap between any two minors.
  • The minor must be completed prior to or at the awarding of a bachelor’s degree.

Programmatic Graduation Requirements


These are the additional graduation requirements mandated by the program:

  • All requirements as specified in the All Minor Requirements section must be met.
  • A term prior to completion of the minor, log into MyFSU, and complete the “Apply for Graduation”. You will receive an email back with the next steps to take. Once this is done the Graduation Secretary will notify the Registrar who will note the completion of the minor.

Contact Information


Management Department
(231) 591-2427
[email protected]

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