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Tippie College of Business
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EconomicsChair: B. RavikumarProfessors: Gabriele Camera, Gary C. Fethke (Leonard A. Hadley Professor of Leadership), John W. Fuller, John F. Geweke (Harlan E. McGregor Professor of Economic Theory), Srihari Govindan, Marlynne Beth Ingram (C. Woody Thompson Professor), Forrest D. Nelson, George R. Neumann (George Daly Professor of Economics), Harry J. Paarsch, B. Ravikumar (Henry B. Tippie Research Professor of Economics), Raymond G. Riezman (Henry B. Tippie Research Professor of Economics), N.E. Savin, Charles H. Whiteman (Stanley M. Howe Chair in Leadership) Professors emeriti: William P. Albrecht, Carol C. Fethke, Hyman Joseph, Gerald L. Nordquist, Thomas F. Pogue, Larry Sgontz, Calvin D. Siebert, S.Y. Wu Associate professors: Matthew F. Mitchell, John L. Solow, Gustavo J. Ventura Associate professor emeritus: Michael S. Balch Assistant professors: April M. Franco, Ayca Kaya, Fernando Leiva, Elena Pastorino, Galina Vereshchagina, Yuzhe Zhang Undergraduate degrees: B.A., B.S., B.B.A. in Economics Undergraduate nondegree program: Minor in Economics Graduate degrees: M.A., Ph.D. in Economics Web site: http://www.biz.uiowa.edu/economics Economics is the study of how societies allocate limited resources to achieve competing ends. Using both empirical and deductive methods, economics analyzes incentives, constraints, organizational forms, and market forces to understand patterns of production, exchange, and consumption of goods and services. It treats diverse issues such as wealth and poverty, government expenditures and taxation, prosperity and depression, inflation and unemployment, relations between management and labor, economic growth, environmental protection, health care delivery, the war on drug abuse, free trade versus protectionism, U.S. competitiveness in international markets, and the quality of American education. The Department of Economics offers degree programs for undergraduates and graduate students. Undergraduate ProgramsThe department offers three undergraduate degrees in economics: a Bachelor of Arts (B.A.) and a Bachelor of Science (B.S.) in economics awarded by the College of Liberal Arts and Sciences, and a Bachelor of Business Administration (B.B.A.) in economics awarded by the Henry B. Tippie College of Business.The B.A. is designed to achieve a balance between economic theory, mathematical tools, and field applications. The B.S. maintains a similar balance but emphasizes development of analytic tools; it prepares students for graduate work in economics or related business and technical fields. The B.B.A. emphasizes economic foundations of business fields: accounting, finance, marketing, business law, and management. Each program provides an excellent educational background for a variety of positions in business and government. Graduates find employment in banking, financial institutions, industrial firms, and trade organizations and in federal, state, and local government agencies dealing with economic policy, regulation, and analysis. Economics also provides excellent preparation for the study of law and for graduate study in fields such as business management, public administration, hospital and health administration, urban and regional planning, transportation, journalism, political science, and statistics. Bachelor of ArtsThe Bachelor of Arts in economics requires 32 s.h. in the major. Students should pay close attention to the order in which they take courses, since some courses are prerequisites for others. The Handbook for Economics Majors, available from the department, offers help in developing a study plan.The following courses are required. All of these:
A total of 21 s.h. in 100-level economics theory and field courses, as follows. All of these:
Unless otherwise approved by the director of undergraduate studies, no more than 6 of the 21 s.h. required in 100-level economics courses may be satisfied by transfer or correspondence credit. Students should take 06E:104 and 06E:105 at The University of Iowa.
PREREQUISITESPrerequisites for most 100-level courses in economics: 06E:001 and 06E:002, or consent of instructorPrerequisites for 06E:104: 06E:001 and 22M:017, or consent of instructor Prerequisites for 06E:105: 06E:002, 06E:104, and 22M:017 Prerequisite for 06E:071: 22S:008 Prerequisites for courses numbered 06E:171 and above: 06E:104 and 06E:105 Bachelor of ScienceThe Bachelor of Science in economics requires a minimum of 33 s.h. in the major. Students should pay close attention to the order in which they take courses, since some courses are prerequisites for others. The Handbook for Economics Majors, available from the department, offers help in developing a study plan.The following courses are required. This sequence:
One of these:
A total of 21 s.h. in 100-level economics theory and field courses, as follows. All of these:
Unless otherwise approved by the director of undergraduate studies, no more than 6 of the 21 s.h. required in 100-level economics courses may be satisfied by transfer or correspondence credit. Students should take 06E:104 and 06E:105 at The University of Iowa. For students planning to pursue a graduate degree in economics, 22S:130 and 22S:131 are recommended in place of 22S:120. PREREQUISITESPrerequisite for 22S:120 and 22S:130: 22M:026 or 22M:032Prerequisites for most 100-level courses in economics: 06E:001 and 06E:002, or consent of instructor Prerequisites for 06E:104: 06E:001 and 22M:017, or consent of instructor Prerequisites for 06E:105: 06E:002, 06E:104, and 22M:017 Prerequisites for courses numbered 06E:171 and above: 06E:104 and 06E:105 Prerequisite for 06E:184: 22S:120 or 22S:131 Bachelor of Business AdministrationThe Bachelor of Business Administration in economics requires 21 s.h. of economics course work, including the business core course 06E:071 Statistics for Strategy Problems (3 s.h.), and 18 s.h. in 100-level economics courses, including the following. Students should take 06E:104 and 06E:105 at The University of Iowa. Students should pay close attention to the order in which they take courses, since some courses are prerequisites for others. The Handbook for Economics Majors, available from the department, offers help in developing a study plan. All of these:
PREREQUISITESPrerequisites for most 100-level courses in economics: 06E:001 and 06E:002, or consent of instructorPrerequisites for 06E:104: 06E:001 and 22M:017, or consent of instructor Prerequisites for 06E:105: 06E:002, 06E:104, and 22M:017 Prerequisite for 06E:071: 22S:008 Prerequisites for courses numbered 06E:171 and above: 06E:104 and 06E:105 Four-Year Graduation PlanBachelor of Arts, Bachelor of ScienceThe following checkpoints list the minimum requirements students must complete by certain semesters in order to stay on the University's Four-Year Graduation Plan. (Courses in the major are those required to complete the major; they may be offered by departments other than the major department.)These checkpoints apply to both the Bachelor of Arts and the Bachelor of Science. Before the third semester begins: at least one-quarter of the semester hours required for graduation Before the fifth semester begins: at least one-half of the semester hours required for graduation, 06E:001 and 06E:002, and the math component of quantitative courses required for major Before the seventh semester begins: three-quarters of the semester hours required for graduation, 06E:104 and 06E:105, and one 100-level economics course Before the eighth semester begins: three 100-level economics courses, including one advanced course (numbered 06E:171 through 06E:189), and the statistics component of the quantitative course requirement During the eighth semester: enrollment in all remaining course work in the major, all remaining General Education courses, and a sufficient number of semester hours to graduate Bachelor of Business AdministrationThe following checkpoints are designed for students who enter the University as first-year pre-business students. In order to stay on the plan, students must maintain the grade-point average required for guaranteed admission to the Tippie College of Business and must apply for admission to the college by the established deadline.Students must take 06B:100 Foundations of Business during their first semester after admission to the Tippie College of Business. Before the third semester begins: 06E:001 or 06E:002, 22M:017, and 22S:008, or equivalents; and at least one-quarter of the semester hours required for graduation Before the fifth semester begins: 06A:001, 06A:002, and 06E:001 or 06E:002 (whichever has not already been taken), or equivalents; all General Education requirements; and at least half of the semester hours required for graduation Before the seventh semester begins: business core requirements, approximately half of the course work in the major (varies by major), and three-quarters of the semester hours required for graduation Before the eighth semester begins: approximately three-quarters of course work in the major During the eighth semester: all remaining course work in the major, and a sufficient number of semester hours to graduate HonorsBachelor of Arts, Bachelor of ScienceStudents in the College of Liberal Arts and Sciences working toward a B.A. or B.S. in economics are encouraged to take part in the honors program in economics, which provides opportunities for high-achieving students to pursue special research interests. Honors students in economics must be members of the University of Iowa Honors Program, which requires students to maintain a cumulative University of Iowa g.p.a. of at least 3.33 (contact the University of Iowa Honors Program for more information).To enter the honors program in economics, students must complete 06E:104 Microeconomic Theory and 06E:105 Macroeconomics before the senior year. Honors students typically register for 06E:194 Honors Seminar in the fall of the senior year. Then they define and complete a research project under the guidance of a supervising faculty member, earning up to 6 s.h. in 06E:195 Senior Thesis in Economics. The thesis is presented orally to a committee of three faculty members, typically the undergraduate honors advisor, the student's research supervisor, and a third faculty member agreed upon by the student and the honors advisor. Interested students should consult the honors advisor by the second semester of their junior year. Bachelor of Business AdministrationThe Tippie College of Business offers qualified B.B.A. students the opportunity to pursue honors study. For more information, contact the Undergraduate Program Office or see "B.B.A. with Honors" in the Tippie College of Business section of the Catalog.MinorThe minor in economics requires at least 15 s.h. in economics with a g.p.a. of at least 2.00; 12 of the 15 s.h. must be taken at The University of Iowa in courses numbered above 06E:100.Course Work for NonmajorsStudents in the College of Liberal Arts and Sciences may wish to use economics courses as part of other majors or the General Education Program. The introductory courses 06E:001 Principles of Microeconomics and 06E:002 Principles of Macroeconomics are approved for General Education in social sciences; they introduce the field of economics and the specialized topics of upper-division courses. The intermediate theory courses 06E:104 Microeconomics Theory and 06E:105 Macroeconomics provide a deeper foundation in the core theories and methods of the discipline. They serve as preparation for upper-division field courses or as terminal courses in an economics study plan.Course work in economics can be related to majors in many other fields. For example, history majors might take 06E:178 American Economic History; political science majors could elect 06E:119 Economics of the Government Sector and 06E:125 International Economics; global studies majors, 06E:133 Environmental and Natural Resource Economics; pre-law students, 06E:171 Antitrust: Legal and Economic Analysis and 06E:172 Law and Economics; mathematics and engineering majors, 06E:104 Microeconomic Theory and 06E:187 Introduction to Mathematical Economics; and statistics majors, 06E:184 Introduction to Econometrics. The Handbook for Economics Majors lists economics courses that complement studies in other fields. Some students combine related interests by pursuing double majors in economics and another field, such as computer science, geography, global studies, history, mathematics, political science, sociology, or statistics. Undergraduate Economics ForumStudents are invited to join the undergraduate Economics Forum. The group sponsors programs to help students plan for careers or graduate study and holds social events, special lectures, and round-table discussions. It provides opportunities for students to meet other economics majors and department faculty members.Graduate ProgramsThe department offers a Master of Arts and a Doctor of Philosophy in economics. It also offers a joint Doctor of Philosophy/Juris Doctor with the College of Law; see "Joint Ph.D./J.D." later in this section.Master of ArtsThe Master of Arts is offered only to students working toward a Ph.D. in economics.Doctor of PhilosophyThe Doctor of Philosophy in economics requires a minimum of 72 s.h. of graduate credit. The program provides rigorous training in economic theory, econometrics, and applied economics. It has six components: a coordinated sequence of core courses, a qualifying examination, a research paper, a set of major field courses, a dissertation proposal and comprehensive examination, and a dissertation.Applicants must meet the admission requirements of the Graduate College; see the Manual of Rules and Regulations of the Graduate College or the Graduate College section of the Catalog. Application deadline for admission and financial support is January 15 for fall semester entry. CORE SEQUENCEFirst Semester
Second Semester
Third Semester
Fourth Semester
QUALIFYING EXAMINATIONThe qualifying examination is normally taken the summer after the first year.RESEARCH PAPERThe research paper is normally completed the summer after the second year.MAJOR FIELD COURSESEach student chooses a major study area in addition to the core courses. The requirement for the major area is a minimum of 24 s.h. of intensive study in a field and in courses that enable students to understand the relationship between their specialty and related fields.DISSERTATION PROPOSAL AND COMPREHENSIVE EXAMINATIONStudents must defend a dissertation proposal in a comprehensive examination within one year of completing the research paper requirement.DISSERTATIONSubmission of the completed dissertation and an oral defense of the dissertation research completes the Ph.D. program.Joint Ph.D./J.D.The Department of Economics and the College of Law offer a joint Ph.D./J.D. program; see Juris Doctor in the College of Law section of the Catalog.Special SeminarEach year the department offers a seminar program that brings eminent economists from other universities and from government agencies to The University of Iowa campus. Presentations by Department of Economics faculty members and students also are featured.Courses
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