Department of Economics and Decision Sciences - Economics and Decision Sciences

Economics and Decision Sciences

WESTERN COMMITMENT SCHOLARSHIP:
Rewarding Academic Achievement
(4-years)

The Western Commitment Scholarship is a new program intended to reward students with excellent academic ability who demonstrate achievement in high school by offering 4-year scholarships towards the cost of attendance at Western Illinois University. New freshmen who submit all application materials for admission by May 15 are automatically considered for Western Commitment Scholarships. No separate scholarship application is required to be considered for a Western Commitment Scholarship. Awards are based on student's high school GPA and ACT/SAT score. High school GPA will be based on weighted or unweighted GPA, which ever is higher, and converted to a 4.0 scale. The ACT score considered is the highest composite score submitted to WIU. Students can enter as new freshmen in any semester but the Western Commitment Scholarship may only be used for Fall and Spring semesters. The scholarship will be distributed half in the fall semester and half in the spring semester. Western Commitment Scholarships are renewable for up to four years (eight semesters) of undergraduate study at WIU by maintaining eligibility requirements. Students may move up in scholarship levels if they improve their ACT/SAT scores prior to the start of the academic year.

CAREER PROSPECTS

Highest-paying majors: Economics

WSJ: From College Major to Career

msn.com: 10 jobs that pay $85,000

Economists: What they do?
(from: careers.msn.com)

Economists study the production and distribution of resources, goods and services and apply economic analysis to issues in a variety of fields, such as education, health, development and the environment. Some economists study the cost of products, health care or energy. Others examine employment levels, business cycles or exchange rates. Still others analyze the effect of taxes, inflation or interest rates.
Median annual pay: $89,450

EVENTS

WIU Events Calendar

| Today's recommended economics writing from economist.com | Buttonwood's notebook on financial markets from economist.com | Schumpeter's notebook on business and management from economist.com | Freakonomics: The hidden side of everything from nytimes.com | The Evolution of Economic Science: Macroeconomics, Growth, and Development | RSS Feeds from the Economist Magzine | The Economist Magzine

DEPARTMENT OF ECONOMICS AND DECISION SCIENCES
College of Business and Technology

Contact Information:

economics@wiu.edu (309) 298-1153

The Bachelor of Business in Economics, available in the College of Business and Technology, is a comprehensive program to prepare students for the business world. A minor is optional.

The Bachelor of Arts in Economics is offered in the College of Arts and Sciences. A minor is required. Students majoring in economics can minor in decision sciences, political science, finance, or other suitable areas.

The 5-year integrated bachelor's and master's degree program lets you integrate either the Bachelor of Arts in Economics or the Bachelor of Business in Economics degree with the Master of Arts in Economics and finish both degrees in only five years. With careful planning, and by taking summer classes, students may be able to finish both degrees in less than five years time.

The M.A. in Economics at Western Illinois University is a specialized degree program that prepares students for various positions in business and government, or teaching positions in two-year colleges. The program is particularly suitable for those who intend to seek advance degrees (Ph.D., DBA, or JD) in business, economics, or law.

The Minor in Decision Sciences provides "business analytics" tools to students who want to find solutions to complex business problems. The business analytics skills are in high demand by all business employers. Students will gain valuable quantitative and business analytics skills that can be used in a wide range of entry-level jobs. Very useful for students with a non-business major who need a bridge into the business world.

Economics: "Why my major matters?"
by Sarah Blaase and Sloane Levin
(from Western Courier, 28 September 2012):

"Economics is interesting, plain and simple. Why do we, as consumers, buy certain products? Why does the government enact certain policies or decide to raise taxes? Questions like these demonstrate why economics is all about the study of choice. We chose to major in economics because the job opportunities are seemingly endless.

Career options for economics majors vary with lucrative opportunities in finance and banking, health care, government agencies, sales and marketing, and even the sports world has a place for economics.

Economics is not only important for our careers, but on a personal level as well. Having a strong understanding of the subject will help us become financially smarter, better consumers and more informed voters. The logic and analytical skills developed throughout the undergraduate experience are also great preparation for graduate school.

Lastly, economics is fun. Trust us and read "Freakonomics," or watch "Moneyball." As mentioned, economics provides the necessary skills to prepare one for success in graduate school or the job market. Some of the most successful businessmen like Warren Buffet and Sam Walton had degrees in economics.

Economics will simply help you better understand how the world works. Western Illinois University has a great economics department, and we encourage all students to take an economics course or attend an Economics Student Association (ESA) meeting to find out more information.

NEWS:

Mock Presidential Debate 2012

A mock presidential debate, co-sponsored by the Department of Economics and Decision Sciences and the Presidents Institute, was held Oct. 9 at Western Illinois University. Associate Economics Professors Bill Polley and Tom Sadler debated as Mitt Romney and Barack Obama, respectively. View this video and more on the Western Illinois University YouTube channel. Jon Day from Political Science Department moderated the debate and Jessica Harriger from Economics and Decision Sciences Department was the organizer of this event. This debate presented an opportunity for students to become more informed about important political issues and learn a little economics at the same time.

Economics Seminar Series for Fall 2013 Begins Friday, August 23, 2013. Mattias Polborn, professor of economics and political science at the University of Illinois-Urbana-Champaign, will kick off the Western Illinois University Department of Economics and Decision Sciences' 2013-2014 Seminar Series Friday, Aug. 23.

Polborn will present "Policy Divergence and Voter Polarization in a Structural Model of Elections" from 2-3 p.m. in Stipes Hall 217 on the WIU-Macomb campus. He will discuss how game-theoretic and econometric methods are used to better understand how political candidates respond to voter preferences.

The Department of Economics and Decision Sciences welcomes new faculty member, Dr. Keva Steadman, Ph.D., Assistant Professor of Economics at the QC Campus. Dr. Steadman earned her Ph.D. from Binghamton University and joined the Department of Economics and Decision Sciences starting Fall 2012.

The Department of Economics and Decision Sciences proudly welcomes Edmund S. Muskie Graduate Fellow, Farida Mamadaslamova from Tajikistan, in the MA Economics program.

The Supreme Court hears oral arguments about the constitutionality of the health care mandate - A fascinating case study in law and economics : Part I, Part II, Part III, Part IV

Economics Day provides an excellent opportunity to learn about the real-world applications of economics and related business fields from WIU faculty, alumni, and invited guests. These events, open to students of all majors provide an amazing opportunity for students both at WIU and from surrounding schools, as well as the community at large, to engage first-hand with economics faculty and learn from industry experts.

Two new "open access" (free electronic access) journals from The Econometric Society: Quantitative Economics and Theoretical Economics

The Department of Economics and Decision Sciences welcomes two new faculty members, Dr. Shane Sanders and Dr. Bhavneet Walia, who joined the department in Spring 2011