Department of Economics and Finance

SHERRILL SHAFFER, B.A. Rice University 1974; Ph.D. Stanford University 1981; Professor of Finance 1997.

JASON F. SHOGREN, B.A. University of Minnesota-Duluth 1980; Ph.D. University of Wyoming 1986; Professor of Economics 1995.

EDWARD B. BARBIER, B.A. Yale College, Yale University 1979; M.Sc. London School of Economics 1980; Ph.D. Birkbeck College, University of London 1986; Professor of Economics 2000.

Professors
CHARLES F. MASON, A.B. University of California 1977; Ph.D. 1983; Professor of Economics 1994, 1982.
OWEN R. PHILLIPS, B.A. Stanford University 1974; Ph.D. 1980; Professor of Economics 1995, 1985.
FREDERIC P. STERBENZ, B.S. Massachusetts Institute of Technology 1975; M.A. University of Pennsylvania 1977; Ph.D. 1981; Professor of Economics and Finance 1987, 1981.

MARK A. SUNDERMAN, B.S. University of Illinois, Urbana-Champaign 1974; M.S. 1976; Ph.D. 1986; Associate Professor of Finance 1992, 1986.

JOHN T. TSCHIRHART, B.S. Johns Hopkins University 1970; M.S. Purdue University 1973; Ph.D. 1975; Professor of Economics 1985.

Associate Professors
ROBERT GODBY, B.S. Trent University 1990; M.A. University of Guelph 1992; Ph.D. McMaster University 1997; Associate Professor of Economics 1997.

DAVID M. AADLAND, B.A. Augustana College 1991; M.S. University of Oregon 1996; Ph.D. 1997; Associate Professor of Economics 2003.

Assistant Professors
DAVID C. FINNOFF, B.S. University of Wyoming 1994; Ph.D. 2001; Assistant Professor of Economics 2004.
JAMES E. GUNDERSON, B.A. University of Nebraska-Lincoln 1997; Ph.D. University of Minnesota 2004; Assistant Professor of Finance 2004.

THORSTEN M. JANUS, B.A. University of Copenhagen 2000; M.A. University of California at Santa Cruz 2003; Ph.D. 2006; Assistant Professor of Economics 2006.

HILLA RANTALA, B.A. University of Kansas 2002; M.A. 2004; Ph.D. 2008; Assistant Professor of Finance 2008.
LEE W. SANNING, B.A. Hanover College 1991; M.S. University of Wyoming 1999; Ph.D. Indiana University 2005; Assistant Professor of Finance 2003.

TATYANA SOKOLYK, B.S. West Texas A&M University 1999; M.S. 2000; Ph.D. Pennsylvania State University 2007; Assistant Professor of Finance 2007.

AARON STRONG, B.A. Luther College 1996; M.S. University of Colorado 1998; M.A. 2001; Ph.D. 2004; Assistant Professor of Economics 2008.
KLAAS T. VAN ‘T VELD, B.Sc. University of London 1992; M.S. University of California-Berkeley 1993; Ph.D. 1997; Assistant Professor of Economics 2004.
 

Professors Emeriti
John W. Birch, Curtis A. Cramer, Thomas D. Crocker, Ralph C. d'Arge, William E. Morgan

Business Economics Major

The science of efficient allocation, economics has much to offer students in the way of general and specialized preparation for positions in business, as well as government and the academic profession.

In addition to university and college requirements cited previously, requirements for economics majors include:

1. ECON 3010, 3020, 4240 or 4250 (9 hours)
   
2. Economics electives - At least 12 hours must be 4000-level courses (15 hours)
   
3. Common business coursework - BADM 1040, FIN 3250, MGT 3210, DSCI 3210, MKT 3210 and MGT 4520 (18 hours)
   
4. IMGT 2400 (3 hours)
   
5. Electives (26 hours)

All economics majors must comply with requirements of the advanced business prerequisites for enrollment in upper-division courses.

Economics majors must hold a 2.50 cumulative grade point average in all economics courses at graduation, as well as a minimum 2.50 cumulative UW grade point average and a minimum 2.50 grade point average in all College of Business courses.

With approval of the department chair, students may substitute work in certain areas of accounting, agricultural economics, business administration, history, political science, finance, mathematics, statistics or law for 6 hours of 4000-level economics courses.

Students who intend to continue on to graduate work are urged to give special attention to courses in economics theory, statistics and mathematics. Those planning a career in econometrics or mathematical economics should consult the department head as to mathematics and statistics requirements in these fields of study.

The Department of Economics offers programs leading to the Master of Science degree and Ph.D. degree. See the Graduate Bulletin for a detailed description of these programs.

Suggested Course Sequence

Freshman Year: Spring	Hours
ECON 1020	3
ECON 1200	3
MATH 2355 or 2205	4
University Studies Science course	3-4
Non-business elective	3
Total Hours	16-17

Sophomore Year: Fall	Hours
ACCT 1010	3
IMGT 2400	3
University Studies Writing II course	3
Economics Elective	3
Non-business electives	4-5
Total Hours	16-17

Sophomore Year: Spring	Hours
ACCT 1020	3
COJO 1010	3
STAT 2010	3
University Studies Cultural Context (Humanities)	3
Electives	3-4
Total Hours	15-16

Junior Year: Fall	Hours
BADM 1040	3
ECON 3010	3
ECON 4240 or 4250	3
ENGL 4010	3
Elective	3
Total Hours	15

Junior Year: Spring	Hours
ECON 3020	3
FIN 3250	3
MKT 3210	3
Electives	3-4
Total Hours	12-13

Senior Year: Fall	Hours
DSCI 3210	3
MGT 3210	3
Economics electives	6
Electives	4
Total Hours	16

Senior Year: Spring	Hours
MGT 4520	3
Economics electives	6
Electives	4
Total Hours	12
Credits for degree	120

Economics Undergraduate Major

The economics major in the College of Business must complete 30 semester hours in economics courses.

Basic requirements for the B.S. degree include: ECON 1010, 1020, 3010, 3020, 4240 or 4250, and 15 hours of upper level economics electives; STAT 2010 or 2070 and one year of calculus sequence, MATH 2200 and 2205, or 2350 and 2355. Upon securing the approval of the department head, a student may substitute work in certain areas of accounting, agricultural economics, business administration, history, political science, finance, mathematics, statistics or law for 6 hours of the 4000-level economics electives.

This program allows considerable flexibility for the student to specialize in interdisciplinary study. For example, the student can be advised on selecting upper level division courses for pre-law study, political economy, environmental and natural resources, women’s studies, and international studies.

Students who intend to continue in graduate work are urged to give special attention to courses in economic theory, statistics and mathematics. Those planning a career in mathematical economics or econometrics should consult the department head regarding the mathematics and statistics requirements in these fields of study.

Graduate Work

The College of Business Department of Economics and Finance offers programs leading to the Master of Science degree, and to the Ph.D. degree. See the Graduate Bulletin for a detailed description of these programs.

Suggested B.S. Program in Economics

Suggested Course Sequence

Freshman Year: Spring	Hours
ECON 1020	3
University Studies Cultural Context (Humanities/Arts)	3
MATH 2350 or 2200	4
ECON 1200	3
University Studies	3
Total Hours	16

Sophomore Year: Fall	Hours
Biological, physical, or earth sciences	4
STAT 2010, 2050, or 2070	3
ECON 3010	3
MATH 2205 or 2355	4
Total Hours	14

Sophomore Year: Spring	Hours
Biological, physical, or earth sciences	4
ECON 3020	3
University Studies Writing II course	3
University Studies Cultural Context (Humanities/Arts)	3
Electives	3
Total Hours	16

Junior Year: Fall	Hours
University Studies Writing III course	3
Economics electives - upper level	6
Electives - upper level	6
Total Hours	15

Junior Year: Spring	Hours
Economics Elective - upper level	6
Electives - upper level	9
Total Hours	15

Senior Year: Fall	Hours
ECON 4240 or 4250	3
Economics elective - upper level	3
Electives - upper level	9
Total Hours	15

Senior Year: Spring	Hours
Electives - upper level	3
Electives	12
Total Hours	15
Credits for degree	120

Economics (ECON) Courses

Finance Major

Modern Business is characterized by its emphasis upon finance. The application of sound financial management principles often will be the difference between success and failure in business.

Courses prescribed for those who wish to major in finance are designed to provide a background for financial management of business concerns and, if students desire, to specialize in bank management, corporation finances, investment management and real estate. Since financial policies of business enterprises are subject to economic principles which make all businesses financially interdependent and sensitive to disturbances in the economic structure, students in this field should study the economic, as well as the technical, administrative aspects of finance and accounting. Prescribed work in this area attempts to emphasize all three phases of the subject.

In addition to university, college and departmental requirements cited previously, requirements for finance majors include:

1. FIN 4520 (3 hours)
   
2. Finance electives (12 hours)
   
3. Accounting elective - junior/senior level - (3 hours)
   
4. Economics electives - (6 hours)
   
5. Restricted electives - Must be junior/senior level FIN, ACCT or ECON courses (3 hours)

Suggested Course Sequence

Freshman Year: Spring	Hours
ACCT 1020	3
MATH 2350/2205	3-4
ECON 1200	3
University Studies Science course	3
Total Hours	16-17

Sophomore Year: Fall	Hours
IMGT 2400	3
University Studies Writing II course	3
University Studies Diversity course	3
University Studies Science course	3-4
University Studies Cultural Context (Humanities)	3
Total Hours	15-16

Sophomore Year: Spring	Hours
COJO 1010	3
STAT 2010	4
BADM 1040	3
ACCT 2000	3
University Studies Cultural Context (Arts)	3
Total Hours	16

Junior Year: Fall	Hours
Economics elective	3
FIN 3250	3
MGT 3210	3
Electives	6
Total Hours	15

Junior Year: Spring	Hours
MKT 3210	3
DSCI 3210	3
Economics elective	3
FIN 4520	3
Finance elective	3
Total Hours	15

Senior Year: Fall	Hours
Finance electives	6
ENGL 4010	3
Restricted elective	3
Electives	3
Total Hours	15

Senior Year: Spring	Hours
MGT 4520	3
Finance electives	6
Electives	6
Total Hours	15
Credits for degree	122

Finance (FIN) Courses

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Last Change: 03/04/08