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Economics Minor
ECONOMICS Economics is a social science that studies rational human behavior. It studies how societies make choices given the problem of scarcity. Scarcity arises and choices have to be made because we live in a world of unlimited human desires and limited resources. People cannot have everything they want and desire. Individuals must choose between alternatives, so must whole nations and societies. Economics is the study of how choices are made, in other words how resources are allocated. It is concerned with what is produced, by whom, and for whom. It studies consumption, production, and exchange. Wilmington College is committed to the core values of Diversity, Social Justice, Respect for Self and Others, and Peacemaking. Economics is uniquely situated to serve these values in the substance of its courses. Economics is concerned with how and when markets work well. Markets are considered to work well when the market benefits all members of society. Social Justice, as well as Diversity and Ecology in addition to Efficiency, is part of the criterion used to evaluate the social benefit of any particular market. Economics also analyzes macroeconomic variables such as inflation and economic growth for their effect upon general business conditions. An economics minor is a logical combination with a major in Business Administration or Accounting to provide a foundation for a career in banking, insurance, financial services, brokerages firms, labor unions, civic organizations, government, and not for profit institutions. Economics minors, with Business or Accounting majors have a competitive edge in the job market. In fact, an Economics minor coupled with any major in fields as far apart as Computer Science to History also serves students well in the job market. An economics minor helps provide a solid foundation for a wide variety of graduate studies including economics, labor relations, business administration, and law. Student Organizations Wilmington College Business Association (WCBA)Founded by and presided over by students, the Wilmington College Business Association (WCBA) is a campus organization created for the purpose of introducing students to the world of business. Through company tours, guest speakers, and on-campus recruiters, students have the exciting opportunity to explore the current business environment and network with those who can impact their career most. Membership is open to all students and there is no cost to join. Omicron Delta Epsilon The honorary society for economics, Omicron Delta Epsilon is internationally known and widely respected. Membership is by invitation only for students who have taken four economics classes, carry a 3.0 overall, a 3.0 in Economics and possess a demonstrated appreciation for the economic perspective. The society offers opportunities for collaboration between students and faculty interested in Economics at Wilmington College and other institutions. There are also opportunities for undergraduate students to publish in the journal called The American Economist, as well as to enter Essay Competitions sponsored by ODE. Membership entitles the student to a free subscription to The American Economist for one year. Ralph J. Stolle Entrepreneurship Program In honor of Ralph J. Stolle and through a generous endowment from the Stolle family, Wilmington College is honored to have the Ralph J. Stolle Entrepreneurship program. The late Stolle was an inventor and industrialist and is known throughout the world for his invention of machinery that manufactures "pop-tops" for metal cans as well as his research and development of bovine immunization procedures. The Ralph J. Stolle Entrepreneurship Program seeks to work with area entrepreneurs in developing business plans, conducting marketing analysis, crafting strategy, and so forth. The business students of Wilmington College carry out this effort, garnering them invaluable experience as well as assisting budding entrepreneurs in the surrounding community. ECONOMICS MINOR (MAIN CAMPUS ONLY): A total of 21 hours is required. A |
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