Frequently Asked Questions

1. Do I have to be an economics major to study economics?
2. What is the difference between majoring in economics versus majoring in business?
3. What kind of advising can I expect to receive as an economics major?
4. What courses should I take if I decide to pursue economics as a major?
5. I want to major in economics. How do I decide between the B.A. and B.S. tracks?
6. As an economics major, do I need to take two additional courses in social and behavioral sciences to fulfill University core requirements?
7. Where do I go to declare economics as my major?
8. What courses are accepted as transfer credit in economics at Fairfield?
9. At registration, should I concentrate on taking courses in the core or in my major?
10. What is economics all about?
11. Who is the typical economics major?
12. What can you do with an economics major?
13. Is there a lot of math in the economics courses?

Economics complements many other subjects. You do not have to be a major to study economics. Many of our students find that a minor in economics is a good addition to a major in finance, international studies, math, accounting, history, marketing, education, sociology, politics, and others. A student needs 15 credits or 5 three-credit courses to complete a minor in economics.

None of our 100-level courses has prerequisites. So you could study the introductory-level micro or macro economics, EC 11 or EC 12. If you are interested in learning how gender plays a role in broader economic decisions and outcomes, EC 114 would be for you. Other introductory level courses taught by our department include, social problems, environmental, global competition, sports, and regional development. You could choose any two of these to count toward your social and behavioral sciences core.

Economics treats both the theoretical and applied. Students learn the underlying motivations behind consumer and business actions, and how that translates into behavior in the marketplace. Although economics is an excellent choice of major to prepare for a career in business, students can also pursue a variety of careers in the public and non-profit sectors, both nationally and internationally.

Once you declare economics as your major, a faculty member in the Economics Department will become your academic advisor. If you have gotten to know a professor and would like him or her to serve as your advisor, the Department is happy to honor your request. You will meet with your advisor each semester prior to map out a program of study that is consistent with your interests and career goals. If you would like to meet with your advisor outside the registration cycle, you can always schedule an appointment.

The economics major is flexible and allows students with particular areas of interest to express that in their choice of courses. If you are interested in monetary issues, the department offers both Money and Banking, and Financial Markets and Institutions. Students interested in international issues can take International Trade, International Finance, or Economic Development in the Third World. The Department also offers course in labor economics, law and economics, regional development, and industrial economics. Students may also take advantage of internship and independent study opportunities that focus on their area of interest.

The choice of the B.A. or B.S. track is a personal decision based on your interests and personal goals. Both programs will introduce you to concepts and tools that you will find useful in your personal life, but the B.S. track is a more quantitative approach to the discipline. If you are a quantitative-minded student and you enjoy mathematics, the B.S. track may be appropriate for you. If graduate school in Economics or a career that involves data analysis may be in your future, you should definitely consider the B.S. program.

No, you do not need to take additional social and behavioral sciences courses to fulfill University core requirements. The economics courses you complete for your major also fulfill the social science core requirement.

First, go to the College of Arts and Sciences' Dean's Office in CNS 100 to obtain a "Declaration of Major" form. Bring that form to the Department Chair, Dr. Philip Lane, DMH 322, (203) 254-4000, ext. 2279. He will personally advise you on the courses you've taken and what courses you need to complete in order to fulfill the degree requirements for the major. Dr. Lane will also assign you a faculty advisor in the department for future consultation.

A course taken at another campus is evaluated for content to determine if it matches the curricular goals in the department. The Economics Department makes an effort to fit course work completed at other colleges and universities around the world into credit bearing options at Fairfield. To initiate the review process, gather all course documentation (such as the course description and syllabus). The more documentation you provide, the better. Make an appointment to meet with the Economics Department Chair, Dr. Philip Lane. Bring your documentation along with a printout of your unofficial transcript from stagweb to meeting. The best procedure is to meet with Dr. Lane before you register for an economics course at another college.

The economics faculty advises students to work on completing their core degree requirements before turning seriously to the economics major. Whether you had your introduction to economics as a freshman or sophomore, we would prefer that you complete the remainder of the major during your junior and senior years. Our reasons for this are first, that we prefer to have our serious contact with students after thet develop the intellectual development and maturity that the core is designed to provide, and second, because concentrating your study of economics during your last two years at Fairfield will prepare you to enter the job market while your analytical skills are most fresh in your mind.

Economics is about scarce resources, and is divided into two broad areas of study. Microeconomics looks at the functioning of markets, the role of prices, production costs, competition and monopoly, and the efficient use of those scarce resources. Macroeconomics examines the causes of, and possible cures for, unemployment, inflation, and trade imbalances. It reviews government budgetary and tax policy, the Federal Reserve Bank, monetary policy, the structure and workings of the banking system, and the relationship between developed and developing nations. As you can see, economics covers a lot of territory!

We have about 110 majors, approximately 30 economics minors, and 10 double majors. Both men and women find economics an interesting and valuable course of study. A number of our students come from outside the United States including Puerto Rico, Jamaica, Germany, Bulgaria, Russia, Japan, Korea, Chile, and Colombia.

Many of our recent graduates have found jobs in banking, the securities industry, and accounting-related functions within government or business. Other students have gone on to professional schools to obtain an MBA, law degree, or an advanced degree in international policy. Several recent graduates have been accepted at leading Ph.D. programs at Brown, Wisconsin, North Carolina, Boston College, the University of Connecticut, the University of Iowa, and the University of Chicago. Fairfield University also seeks to develop students who will give service to their community while in school, and after graduation.

Some courses, including statistics, econometrics, mathematical economics, managerial economics, and the computer labs that are part of the new B.S. program have a sizable math content. However, many students are interested in an economics major as a way of thinking logically about a wide range of policy issues and topics. Although we recommend that all majors take our statistics offering, and two courses in calculus, it is possible to complete a challenging and interesting B.A. degree program with a minimum of math content.