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Economics Minor

(HEGIS: , CIP: 45.0601 Economics, General)

Department of Economics

415 Fronczak Hall
North Campus
Buffalo, NY 14260-1520

Dr. Alex Anas

Dr. Peter Morgan
Director of Undergraduate Studies

Dr. Winston Chang
Director of the Masters Program

Associated Programs

Associated Subjects

Why study Economics Minor at UB?

*Not a baccalaureate degree program

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 & 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.

Learning Outcomes

Upon completion of the requirements of the undergraduate minor in economics, the student will:

  • have a good working knowledge of the basic principles and terminology of microeconomics and macroeconomics.
  • be able to read, evaluate and interpret general economic information.
  • be able to understand and use basic statistics.
  • have a sound knowledge of the subject areas covered by the elective courses.
  • be able to communicate effectively both in written and oral form.

The Learning Environment

The Department of Economics maintains a study and learning environment that allows students to understand core ideas in economics and their applications. There is a balanced emphasis on instruction in theory, economic data, and their blending (called applied economics). Instructional methods include lectures, presentations, debates, discussions, research term papers and exams, each chosen as appropriate to achieving course goals. Typical goals include critical thinking, analysis of significant economic issues, evaluations of current economic policies, and data-driven measurements of the gains and losses that must be balanced when determining economically desirable policies. Every course provides opportunities for interactive learning experiences with faculty. Our upper-level courses are not large to facilitate faculty mentoring. The larger introductory classes provide recitations to enhance beginning students’ understandings.

About Our Facilities

The Department of Economics is housed in Fronczak Hall on UB’s North Campus. Economics classes are held in centrally scheduled instructional space throughout the campus. The Department selects classrooms that are equipped with state-of-the art instructional equipment appropriate to the instructional needs of particular courses.

About Our Faculty

Our faculty are committed to excellence in both undergraduate and graduate level teaching. Professor James Holmes is a three-time winner and Professor Peter Morgan is a two-time winner of the Milton Plesur Award for Teaching Excellence. Professor Winston Chang is a recipient of the State University of New York Chancellor’s Award for Excellence in Teaching. Distinctions for the research and scholarship of the faculty include major research awards from the National Science Foundation, the United States Environmental Protection Agency and the University of California. In 2016, Professor Alex Anas received the Walter Isard Award for distinguished scholarly achievements. Professor Isaac Ehrlich heads the Center of Excellence on Human Capital, Technology Transfer, and Economic Growth and Development, and is Editor-in-Chief of the Journal of Human Capital. Undergraduate students interested in becoming engaged in the research activities of the faculty are encouraged to pursue independent studies with them and to consider continuing into either the M.A. in Applied Economics or the M.S.-STEM programs that are offered by the Department.

Faculty List Directory

Please visit the Economics Department website for additional information about our faculty.

Career Outlook

Career Choices

  • Accountant
  • Actuary
  • Auditor
  • Bank officer
  • City manager
  • Consultant
  • Controller
  • Educator
  • Environmental economist
  • Foreign exchange trader
  • Forensic economist
  • Insurance agent
  • Investment advisor
  • Personnel manager
  • Policy economist
  • Political scientist
  • Securities analyst
  • Statistician
  • Stockbroker
  • Systems analyst
  • Trust officer
  • Underwriter
  • Urban planner

Career Hints

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 work 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 all sorts of other organizations.

Salary Information

Based on the fall 2015 National Association of Colleges and Employers (NACE) survey, the average starting salary for economics majors graduating with BA degrees was $54,598. The Bureau of Labor Statistics’ Occupational Outlook Handbook reports that for 2017 the median annual pay for economists was $102,490. The Handbook provides comparative income data for other professions also.

Academic Advising

Students are encouraged to contact their academic advisor or department to discuss how their coursework will apply to their degree.

Academic Advising Contact Information

Undergraduate Advisor
Yue Yin
435 Fronczak, North Campus
Phone: 716-645-8682
Email Yue Yin

Director of Undergraduate Studies
Dr. Peter Morgan
449 Fronczak Hall, North Campus
Phone: 716-645-8690
Email Dr. Peter Morgan

Scholarships and Financial Support

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 and award 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, est. 2012 – William A. Strauss, donor
  • The Smith M. Flickinger Scholarship, est. 1942 – Smith M. Flickinger, donor

Students in this program may qualify for scholarships and financial support from a number of sources, including:

Associated Programs

Associated Subjects

Published: Dec 05, 2019 11:41:06