Written by: Nyah Jackson
The School of Business at Southern Adventist University will begin offering an economics major in the Fall 2024 semester.
According to Stephanie Sheehan, dean of the School of Business, economics has been a minor since 2021. The School of Business faculty felt they needed to expand the program.
“Since that time, market research data indicates a growing interest in this field,” Sheehan said. “The knowledge and skills developed within this field are highly valued by companies across all sectors, which increases job opportunities for graduates in various industries in the local, national and multinational arenas.”
The courses that will be required for this new major have not been voted on yet. Sungin Ahn, assistant professor in the School of Business, is the initial faculty member for the incoming economics program. He said the required classes may include econometrics, intermediate macroeconomics, intermediate microeconomics, managerial economics and calculus I. There will also be 12 hours of major electives to choose from. These include financial economics, development economics, game theory and economic forecasting.
“The Economics major will provide students rigorous, analytical training in the study of economic principles and policies,” said Ahn. “The sequence of courses will be grounded in economic theory as well as theory and application of statistical analysis.
“The practical lessons that students will learn include how people, firms, and governments respond to incentives to make decisions,” he continued. “If students decide on majoring in economics, they may have opportunities in a broad range of careers, including business analyst, government analyst, financial advisor, economic consultant, corporate lawyer and banker.”
The School of Business formed the Economics Club to gain more interest in the economics major. Sheehan said the club was created “to provide students with the opportunity to become more literate in contemporary economic issues.”
One of the activities the Economics Club will participate in is the Fed College Challenge, hosted by the Federal Reserve, said Sheehan. This challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.
Although the exact demand is still undetermined, many students have expressed interest in the major to be a part of Southern’s academics, according to Sheehan.
“As awareness increases, we expect the program to be of growing interest to prospective, incoming and undecided students,” Sheehan said.