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Economics

Economics courses at Inver Hills give you a strong foundation in economics, covering areas such as the world economy and microeconomics. If you are considering economics or a related field as your major, you can transfer your Inver Hills coursework to a four-year college or university.

Economics


Contact Information

Scott Sandok

SSandok@inverhills.edu
651-450-3297

Admissions Team

admissions@inverhills.edu
651-450-3000
College Center

The Economics Transfer Pathway A.A. offers students a powerful option: the opportunity to complete an Associate of Arts degree with course credits that directly transfer to designated Economics bachelor’s degree programs at Minnesota State universities. The curriculum has been specifically designed so that students completing the pathway degree and transferring to one of the seven Minnesota State Universities* enter the university with junior-year status. All courses in the Transfer Pathway associate degree will directly transfer and apply to the designated bachelor’s degree programs in a related field.

The Economics Pathway consists of 2 required economics courses, two required mathematics courses, the Minnesota Transfer Curriculum (MnTC) and the Health and Physical Fitness requirement to bring the total credits to 60.

Students planning to transfer to non-Minnesota State universities (including the University of Minnesota) are advised to consult with an advisor and their intended transfer institution to determine transferability of the courses in this curriculum. To guarantee admission to a Minnesota State University's designated bachelor's program in your major, you must first meet the admitting institution's minimum transfer GPA and then the admission to major GPA.

* Universities within the Minnesota State system include Bemidji State University; Metropolitan State University; Minnesota State University, Mankato; Minnesota State University, Moorhead; Southwest Minnesota State University; St. Cloud State University; and Winona State University.


Degrees

Economics Transfer Pathway A.A. Degree - (60 credits)

Coursework   Program Planning Guide

Required Economics Pathway Curriculum - 14 credits

The Economics Transfer Pathway A.A. consists of the required Pathway Curriculum, the Minnesota Transfer Curriculum, the Health and Physical Fitness requirement and electives.

Course Number Title Credits
Introduction to Economics - 6 credits
ECON 1105 Principles of Macroeconomics (Goal 5, 8) 3 cr
ECON 1106 Principles of Microeconomics (Goal 5, 8) 3 cr
Mathematical Foundation - 8 credits
MATH 1103 Introduction to Statistics (Goal 2, 4) 4 cr
MATH 1118 College Algebra I (Goal 2, 4) or higher 4 cr
Total Credits: 14

General Electives – 18 credits

Any courses numbered 1000 level or higher from any discipline. This may include additional courses from the MnTC and/or Health & Physical Education. Several receiving institutions recommend MATH 1133 (Calculus) and BUS 1100 (Introduction to Business Applications and Computing).

Health/Physical Education – 2 credits

For a list of the requirements and courses, go to: www.inverhills.edu/MnTC

Course Number Title Credits
Health   1 cr
Physical Education   1 cr
Total Credits: 2

Additional General Education Requirements – 26 credits

The Minnesota Transfer Curriculum (MnTC) requires a minimum of 40 credits, some of which will be satisfied by the required pathway curriculum. You must complete the MnTC courses that are specifically designated below. You may choose the other courses from each goal area from the list located at: inverhills.edu/MnTC

To streamline your degree, you are encouraged to choose MnTC Goal 1-6 courses that also meet MnTC Goal areas 7-10.

Goal Description Courses
Goal 1 Communication
  • ENGL 1108 Writing & Research Skills
  • ENG 1111, 1114 OR 1130
  • COMM 1100, 1110 OR 2230
3 courses
Goal 2 Critical Thinking
  • Satisfied by First Year Experience course or MnTC completion
 
Goal 3 Natural Science (1 course must include lab)
  • Goal 3a (Life Science) course
  • Goal 3b (Physical Sciences) course
2 courses
Goal 4 Mathematical/Logical Reasoning
  • MATH 1103 - Satisfied by Transfer Pathway
  • MATH 1108 - Satisfied by Transfer Pathway
 
Goal 5 History/Social Sciences/Behavioral Sciences
  • ECON 1105 - Satisfied by Transfer Pathway
  • ECON 1106 - Satisfied by Transfer Pathway
  • Any additional Goal 5 course (non-ECON)
3 courses
Goal 6 Humanities/Fine Arts/Literature
  • Goal 6a (Fine Arts) course
  • Goal 6b (Humanities/Literature) course
  • Any additional Goal 6 course
3 courses
Goal 7 Human Diversity
  • Goal 7 course
1 course
Goal 8 Global Perspective
  • Satisfied by Transfer Pathway
1 course
Goal 9 Ethical and Civic Responsibility
  • Goal 9 course
1 course
Goal 10 People and the Environment
  • Goal 10 course
1 course
Total Credits: 26

Recommended Full-Time Course Of Study

Note: Not all courses will be available every semester. For a complete list of Minnesota Transfer Curriculum (MnTC) Goal Area course choices, please visit: www.inverhills.edu/MnTC

Semester 1 - 15 - 16 Credits

Course Number Title Credits
ECON 1105 Principles of Macroeconomics* (Goal 5, 8) 3 cr
ENG 1108 Writing & Research Skills (Goal 1a) 4 cr
MATH 1118 College Algebra OR higher* (Goal 4) 4 cr
MnTC Goal 6a elective   3 cr
First Year Experience course (Goal 2)   2 cr
Total Credits: 16

Semester 2 - 14-15 Credits

Course Number Title Credits
ECON 1106 First Year Experience course (Goal 2) 3 cr
ENG 1111 OR
ENG 1114 OR
ENG 1130
Research Writing in the Disciplines (Goal 1b) OR
The Research Paper OR
Writing & Research for the Professions
2 - 3 cr
COMM 1100 OR
COMM 1110 OR
COMM 2230
Interpersonal Communication (Goal 1c) OR
Public Speaking OR
Small Group Communication
3 cr
MnTC Goal 6b elective   3 cr
MnTC Goal 3a elective   3 cr
Total Credits: 14-15

Semester 3 - 15-16 Credits

Course Number Title Credits
MATH 1103 Introduction to Statistics* (Goal 4) 4 cr
MnTC Goal 5 elective (non-ECON)   3 cr
MnTC Goal 3b elective   3-4 cr
MnTC Goal 91 elective   3 cr
Health and PE   2 cr
Total Credits: 15-16

Semester 4 - 14-15 Credits

Course Number Title Credits
MnTC Goal 6a OR 6b elective   3 cr
MnTC Goal 101   3 cr
MnTC Goal 71 elective   3 cr
General electives   5-6 cr
Total Credits: 14-15

*Course required for major
1 These credits may be taken as electives if Goal Areas 7, 9, and 10 are completed as part of another course.

Recommended Part-Time Course Of Study

Note: Not all courses will be available every semester. For a complete list of Minnesota Transfer Curriculum (MnTC) Goal Area course choices, please visit: www.inverhills.edu/MnTC

Semester 1 - 10 - 11 Credits

Course Number Title Credits
ECON 1105 Principles of Macroeconomics* (Goal 5, 8) 3 cr
ENG 1108 Writing & Research Skills (Goal 1a) 4 cr
Health and PE   2 cr
First Year Experience course (Goal 2)   1-2 cr
Total Credits: 10-11

Semester 2 - 9-10 Credits

Course Number Title Credits
ECON 1106 Principles of Microeconomics* (Goal 5, 8) 3 cr
ENG 1111 OR
ENG 1114 OR
ENG 1130
Research Writing in the Disciplines (Goal 1b) OR
The Research Paper OR
Writing & Research for the Professions
2-3 cr
MATH 1118 MATH 1118 College Algebra OR higher* (Goal 4) 4 cr
Total Credits: 9-10

Semester 3 - 10 Credits

Course Number Title Credits
MATH 1103 Introduction to Statistics* (Goal 4) 4 cr
MnTC Goal 6a elective   3 cr
MnTC Goal 5 elective (non-ECON)   3 cr
Total Credits: 10

Semester 4 - 10 Credits

Course Number Title Credits
MnTC Goal 6b elective   3 cr
MnTC Goal 3b elective   4 cr
COMM1100 OR
COMM1110 OR
COMM2230
Interpersonal Communication (Goal 1c) OR
Public Speaking OR
Small Group Communication
2 cr
Total Credits: 10

Semester 5 - 9 Credits

Course Number Title Credits
MnTC Goal 3a elective   3 cr
MnTC Goal 6a OR 6b elective   3 cr
MnTC Goal 71 elective   3 cr
Total Credits: 9

Semester 6 - 11-12 Credits

Course Number Title Credits
MnTC Goal 91 elective   3 cr
MnTC Goal 101 elective   3 cr
General electives   6-7 cr
Total Credits: 11-12

*Course required for major
1 These credits may be taken as electives if Goal Areas 7, 9, and 10 are completed as part of another course.

Course Descriptions

ECON 1100  Economics For Consumers   3.0 cr

Introduces students to the information and tools that will enable them to analyze and evaluate alternatives concerning major consumer issues with the goal of increasing personal well-being. Prerequisite: Recommended READ 0093/0094 or placement into READ 1100.

ECON 1105  Principles of Macroeconomics   3.0 cr

Examines the performance of the U.S. economy in the early 21st century (national income accounting) as measured against historical performance, including an analysis of U.S. economic institutions and government macroeconomic policies. Prerequisites: Recommended READ 0093/0094 or placement into READ 1100.

ECON 1106  Principles of Microeconomics   3.0 cr

Introduces students to the supply and demand analysis of prices and production under different market structures, the role of government in a market economy, international trade and exchange rates, and income distribution and the pricing of economic resources. Prereq: Recommended READ 0093/94 and MATH 0840 or higher.

Transfer Information

After earning your A.A. in Economics at Inver Hills, you will be fully prepared to pursue a bachelor’s degree in economics at both state and private four-year colleges and universities.

You are strongly advised to plan carefully with an Inver Hills academic advisor or counselor to tailor your degree to meet the requirements of your chosen four-year college or university.

Additional resources

Transfer Pathways

With this transfer pathway, you will be able to transfer to the following majors at:

Meet the Faculty

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Employment Information

Although most people working as professional economists hold graduate degrees, you can earn a bachelor’s degree in economics and follow a wide variety of career paths. Students typically use economics as an entry to other professions.

Job Skills

People tend to learn job-specific skills on the job. More often than not, employers are more concerned with your general skills package than your specialized knowledge and expertise. Economics majors bring an impressive package to the employment table.

Economics courses emphasize graphs and charts that display complex information and explain relationships. As an economics major, you will learn the following skills crucial to workplace success:

  • Analyzing data
  • Thinking strategically about decision-making
  • Thinking critically about complicated situations
  • Asking the right questions
  • Working with numbers
  • Solving problems

Because of their broad analytical skills, quantitative background, and clarity and precision of expression, economics majors are in high-demand in many career sectors. Employers hire economics majors because they can think on their feet, adapt to new settings and situations, and rapidly learn specialized skills across a range of occupations.

Career categories

Banking and finance

  • Economics majors have the ideal skill set
  • Who’s hiring: Banks, brokerage firms, insurance companies and investment houses
  • Knowledge of the economy is indispensable

Management and marketing

  • Economics majors grasp the market system in a broader social context
  • Who’s hiring: Commercial businesses, law firms and nonprofit agencies
  • Managing scarce resources is indispensable

Government service

  • Economic majors choose public service next after business
  • Who’s hiring: federal, state, county and municipal agencies
  • Data analysis expertise is indispensable

Economic journalism

  • Economics majors are trained to write for the general reader
  • Who’s hiring: Newspapers, blogs, magazines, journals, trade publications, television networks
  • Understanding the bottom line is indispensable

Potential job titles

  • Auditor
  • Market analyst
  • Budget analyst
  • Marketing administrator
  • Credit analyst
  • Pricing analyst
  • Economic analyst
  • Product manager
  • Environmental planner
  • Purchasing analyst
  • Financial analyst
  • Real estate appraiser
  • Import/export agent
  • Reporter
  • Insurance agent
  • Research analyst
  • Loan officer
  • Sales analyst
  • Loan review analyst
  • Stock broker
  • Lobbyist
  • Statistician
  • Management consultant
  • Underwriter

Below are just a few examples of possible career paths that can start with taking economics courses at Inver Hills.

Additional resources

Economics periodicals

Important economic variables

More economic data sources

Why Inver Hills?

Completing your economics course obligations at Inver Hills is smart on several key levels:

  1. You will receive an outstanding education with one-on-one interactions with Economics faculty
  2. You will benefit from small class sizes while developing the practical, real-world skills of an economist
  3. You will save money and continue your academic and professional careers with less student debt *

* On a national scale, student loan debt has mushroomed to $1.2 trillion, which is greater than credit card debt and auto loan debt combined. In Minnesota, the average debt for four-year grads tops $30,000; 70 percent carry a student debt load.

Tuition and fees for one year at Inver Hills costs a little less than $5,300. Compare that to $15,000 to $20,000 at a for-profit college, or $40,000 to $50,000 at a private college or university. You can complete your first two years at Inver getting a topflight education firsthand from Ph.D. instructors and then transfer to a four-year as a junior all while saving thousands of dollars. It's a no-brainer.

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