The Department of Economics offers a comprehensive curriculum integrating economic theory with applied topics, including education and health economics, econometrics and statistical analysis, international trade and finance, urban and regional economics, information and Internet economics, and industrial organization and regulation. Among the topics discussed are the interaction of consumers and producers, behavioral economics, market equilibrium, investment and savings, employment and unemployment, monetary policy and the role of the FED, economic development and emerging markets, and government taxation and spending.
Economics is the study of scarcity and its implications for the optimal use of resources, production of goods and services, advances in technology and welfare over time and a myriad of other issues of vital concern to individuals and society. The central challenge of economics is to determine the most effective use of resources to improve individual and social welfare.
Upon successful completion of all requirements, the student will have knowledge of:
- How to demonstrate a good working knowledge of the basic principles and terminology of microeconomics and macroeconomics.
- How to demonstrate the ability to read, evaluate and interpret general economic information.
- How to demonstrate the ability to understand and use basic statistics.
- How to demonstrate a sound knowledge of the subject areas covered by the elective courses.
- Math proficiency through calculus I and II.
- Ability to communicate effectively both in written and oral form.
The Department of Economics is dedicated to create and maintain a positive, interactive and personal learning environment that is optimal to deliver student learning outcomes. Instructional methods include lecture, presentations, debates, discussions, research term papers and exams to promote course learning outcomes such as critical thinking, analyzing disciplinary contents, identify contexts, learning fresh perspectives and multiple modes of inquiry. We offer lecture and seminar courses with various class sizes. All our courses offer interactive learning experience between faculty and students. Our upper-level courses are designed to be small to facilitate individual faculty mentoring that will help students achieve their goals beyond UB. We offer recitations for introductory level as well as quantitative reasoning courses to enhance students’ understanding.
The Department of Economics is housed in Fronczak Hall and has one dedicated classroom/reading room, and one conference room. The department holds most of the classes in centrally scheduled space throughout the campus, which includes traditional classrooms and lecture halls that can accommodate our teaching needs.
The department's faculty is distinguished for its research and teaching accomplishments. All members of the faculty hold the PhD degree and are engaged in ongoing research projects that are reflected directly or indirectly in their teaching. The department is home to the Center of Excellence on Human Capital, Technology Transfer, and Economic Growth and Development (HEAD). The Center was chosen as one of the pillars of the Civic Engagement and Public Policy area of strength in the UB 2020 Strategic Plan. The Center is funded by a major faculty development award from the New York Office of Science, Technology and Academic Research (NYSTAR). The Center has had notable achievements, including an inaugurating conference attended by Nobel laureates. The Center houses the editorial office of the new Journal of Human Capital, which is published by the University of Chicago Press and is fast becoming nationally and internationally recognized as a leading economics journal.
Please visit the Economics department website for additional information about our faculty.
- Bank officer
- City manager
- Environmental economist
- Foreign exchange trader
- Forensic economist
- Insurance agent
- Investment advisor
- Personnel manager
- Policy economist
- Political scientist
- Securities analyst
- Systems analyst
- Trust officer
- Urban planner
The most popular careers in economics are in financial services, including: brokerage firms, investment banks, retail banks and insurance companies. However, economics is applicable in so many fields that our graduates are now working in such varied areas as consulting, retail management, consumer goods industries, advertising, publishing, the health sector, not-for-profit research organizations, U.S. government agencies and various organizations.
Based on the fall 2015 National Association of Colleges and Employers (NACE) survey, the average starting salary for economics majors was $54,415.
Students are encouraged to contact their academic advisor or department to discuss how their coursework will apply to their degree.
435 Fronczak, North Campus
Director of Undergraduate Studies
Dr. Peter Morgan
449 Fronczak Hall, North Campus
The Department of Economics is grateful to all of our contributors and is fortunate to be able to offer our Economics students these very special scholarship opportunities:
- The Kogut Brothers of New York Mills Economic Development Award (formerly the Joseph W. Kogut Economic Development Award), est. 2007 – Frederick J. Kogut and Nina F. Kogut-Akkum, donors
- The Matthew Scarpati Endowed Scholarship, est. 2010 – James and Lynn Scarpati, donors
- The William A. Strauss Economics Scholarship Award, est. 2012 – William A. Strauss, donor
Students in this program may qualify for scholarships and financial support from a number of sources, including: