Skip to main content



Scroll down to read descriptions of the economics courses offered at Carthage, or click on the following links for additional resources.

  • ECN 1010

    Principles of Microeconomics (SOC)

    The rise and expansion of market economies, and the principles of microeconomic behavior. Topics include an introduction to economic methodologies, the ideas and institutions of the microeconomy, consumer behavior, the business firm and market structure, labor and capital markets, and government policies affecting resource allocation and the distribution of income.

  • ECN 1020

    Principles of Macroeconomics (SOC)

    An introduction to the principles and issues of the national economy, and the institutions of macroeconomic behavior. Topics include the role of government in a mixed market economy; measuring and determining national income; money and the banking system; and the public policies available for achieving full employment, price stability, and continuing economic growth in modern industrial and democratic societies.
    Prerequisite: None

  • ECN 1030

    Issues in Economics (SOC)

    This course offers students an introduction to economics, along with some elementary tools of economic analysis, with emphasis on their application to contemporary problems and issues. The economy and selected issues are examined in their global context. Designed to meet the needs and interests of students in various majors outside of the economics and business administration areas, the course is not open to students who have received credit for either ECN 1010 or ECN 1020.

  • ECN 2340

    Applied Statistics for Economics and Management (MTH)

    The application of statistics to problems in business and economics, encompassing the gathering, organization, analysis, and presentation of data. Topics include descriptive statistics in tabular and graphical forms, the common measures of central tendency and dispersion, sampling and probability distributions, construction of confidence intervals and hypothesis testing, and correlation analysis. This course is offered as BUS 2340 or ECN 2340. Students who earned less than 20 on the math component of the ACT (or equivalent on the SAT) are encouraged to take a math class to strengthen their preparation for this class.

  • ECN 2510

    Intermediate Microeconomics (SOC)

    The economic theory of microeconomic units: consumers, firms, and industries. This entails the study of production, cost, and price theory, and the practices of firms under alternative market structures. Concepts of social welfare will be explored, and the uses and limits of public policy in addressing the problems of market failures will be examined.
    Prerequisite: ECN 1010 or 1030

  • ECN 2520

    Intermediate Macroeconomics (SOC)

    The economic theory of macroeconomic aggregates: national income accounting; the determinants of output, income, and employment levels; the analysis of inflation; processes of economic growth; and open-economy macroeconomics. Monetary, fiscal, and income policies are examined, and the uses and limits of these tools in promoting macroeconomic goals are discussed.
    Prerequisite: ECN 1020 or 1030

  • ECN 3050

    Environmental Economics

    This course explores the economic dimension of environmental and natural resource use questions. The actions of producers and consumers, as influenced in part by institutional patterns and public policies, give rise to a variety of environmental problems and issues. By applying some basic tools of economic and institutional analysis, students may obtain a better understanding of environmental issues, both national and global, and are able to identify and evaluate alternative solutions.
    Prerequisite: ECN 1010, or ECN 1030, or consent of the instructor

  • ECN 3100

    Political Economy of East Asia (SOC)

    An exploration of the historical, cultural, and political forces that have contributed to the economic growth and development of Asia. Emphasis is placed on studying development in the context of regional and global integration.

  • ECN 3200

    Money and Banking (SOC)

    A survey of the financial sector of the economy covering the role and functions of money and other financial instruments; commercial banks and financial intermediaries; the purposes of central banking and the structure and operations of the Federal Reserve; and the relationship between the monetary and credit system and the level of economic activity.
    Prerequisite: ECN 1020 or ECN 1030

  • ECN 3220

    Regional Economic Development (SOC)

    The analysis of subnational or regional and metropolitan economies encompassing their distinctive processes and problems of economic growth, employment, and income determination, and intra-urban land use patterns. Policies addressing urban problems in the areas of job creation, housing, public infrastructure, education, and welfare are included among the topical areas examined.
    Prerequisite: ECN 1010 or ECN 1030

  • ECN 3240

    Public Sector Economics (SOC)

    An analysis of the reallocative and redistributive functions of federal, state, and local government with emphasis given to examining the efficiency and equity implications of various tax and expenditure programs. Attention also is given to the issues of public borrowing, debt management, public enterprises, and the impact of these public sector activities on private capital markets.

  • ECN 3250

    Economics of Poverty and Income Inequality (SOC)

    This course surveys research and evidence on the effects of high income inequality on a host of social, economic, and quality-of-life indicators. It studies trends in poverty and inequality in the U.S. and internationally by economic class, gender, and race. The course explores the leading explanations for these trends. It critically evaluates policy options for addressing them, and considers how society's views of these problems and their underlying causes influence policy responses to them. Lastly, the course examines the effects on income distribution and social mobility of a wide range of public policies.

  • ECN 3260

    Labor Economics (SOC)

    An overview of the institutions and processes affecting the development, allocation, and utilization of human resources, as well as the level and structure of wages and other forms of compensation. Topics include the impact of legislation, collective bargaining, discrimination, and education on labor markets, along with the design of public policies to address market imperfections or to provide assistance to those not currently in the workforce.
    Prerequisite: ECN 1010 or ECN 1030

  • ECN 3270

    International Trade (SOC)

    An historical and theoretical analysis of international economic relations in both public and private spheres. Using the principles of economic analysis, models of international trade and factor prices, commercial policy, and economic integration are set forth and become a basis for examining policy issues.
    Prerequisites: ECN 1010 and 1020, or 1030

  • ECN 3290

    International Finance

    This course examines the monetary side of international economics and globalization, including the current and historical structure of international financial institutions. Topics include exchange rate theories, monetary regimes, interest rates, asset pricing, risk diversification, the balance of payments, currency crises, and open-economy aspects of fiscal and monetary policies. Emphasis is given to the use of theories in understanding current events and policy issues.
    Prerequisites: ECN 1010 and 1020, or ECN 1030

  • ECN 3300

    Law and Economics (SOC)

    An examination of how economic concepts and modeling can be applied to help determine the justification for, and the effects of, various types of laws and contractual arrangements. The problems posed by externalities and other market failure arising in resource, labor, and product markets are discussed, and the legal framework and regulatory environment for addressing these issues is surveyed so alternative approaches might be evaluated.
    Prerequisite: Junior or senior standing

  • ECN 3310

    History of Economic Thought (SOC)

    The evolution of economic ideas in the Western tradition, their influence on their times, and their lasting effects on the economics discipline are the focus of this course. The precapitalist development of economic thought is explored, followed by an examination in the capitalist age of classical, neoclassical, and Keynesian economics with particular emphasis on the work of Smith, Marx, and Keynes. The final stage of the course considers modern economic thought and the role its antecedents play in informing contemporary theoretical and policy discussions.

  • ECN 3330

    The Economics of Love and Sex

    No one would argue that ours is not a culture of commodification. Everything is for sale; we even package ourselves for consumption in the college and job market. Even our most intimate relationships may be governed by supply and demand and cost-benefits analysis. The extent to which love and sex are subject to market forces is the controlling question of this course. Using a combination of literature, film, and economic and feminist theory, we will go back to the Greek philosophers to define love and friendship, then explore the relationship between love, sex, and economics in British and American culture from the long 19th century until today.
    Prerequisite: Junior standing

  • ECN 3340

    Introduction to Econometrics (SOC)

    Econometrics is a set of tools researchers use to estimate relationships between variables, test theories, and make forecasts, all using real-world data. Econometric analysis supports decision-making in public policy, business, the court system, and academia. This course provides a rigorous introduction to econometrics, with a particular emphasis on multiple regression analysis. Topics include formulating good research questions; estimating regression models using cross-section, time-series, and panel data; conducting hypothesis tests; and interpreting and critically evaluating published regression results.
    Prerequisite: BUS/ECN 2340

  • ECN 3550

    Internship in Economics/IPE

    Placement for a term and relevant learning experiences in business, nonprofit organizations, or government. Enrollment is restricted to economics majors; this course may not be used to fulfill upper-division economic electives. Graded P/F.
    Prerequisites: Junior standing and permission of the instructor

  • ECN 400D

    TP: Big Data in Economics and Public Policy (SOC)

    Large amounts of data are increasingly being used to design and implement public policies that address the largest challenges our society faces. During this course you wlil learn how big data can be used in conjunction with economic theory to understand and address public policy problems such as economic mobility and climate change. You will be introduced to how to manipulate and analyze data to glean insights about the world around you. We will discuss the basics of learning from data, casual inference, regression, and some data visualization techniques.
    Prerequisite: BUS/ECN 2340 or MTH 1050, and either ECN 1010, ECN 1020, ECN 1030 or CSC 1030.

  • ECN 4030

    International Political Economy (SOC)

    Building upon prior analysis of international trade and finance, this course offers students an advanced study of the interaction of the economic and political processes in the world arena. Topics may include, but are not limited to, economic and political integration, theories of direct foreign investment and international production, economic development, the political economy of the global environment, and international governance.

  • ECN 4050

    Seminar in International Political Economy

    Serving as a capstone for the International Political Economy major, the seminar goes beyond disciplinary lines in an attempt to further integrate diverse and often competing perspectives, methodologies, and values. A research thesis on a topic of the individual student's choice, made in consultation with an advisor, is required along with an oral presentation to faculty and students involved in the program.
    Prerequisite: Senior standing

  • ECN 4410

    Senior Seminar in Economics

    Serving as a capstone for the major, the seminar focuses on the research process in economics. Essential elements of this process are development of an effective research question, surveying the literature, analysis of a selected problem, the testing of this analysis and interpretation of results, drawing conclusions, and effective communication of research findings to a wider audience. Successful completion of a thesis on a topic approved by the department along with an oral presentation of results to faculty and students is required.
    Prerequisites: ECN 2510, ECN 2520, ECN 3310, and ECN 3340

  • ECN 4990

    Senior Thesis Completion

    Students must register for ECN 4990 during the semester of their Senior Thesis completion.

  • Quick Facts

    • Carthage is named a Best Midwestern College by The Princeton Review (2021), a designation given to only 25 percent of four-year schools.

    • The Tower, Carthage’s newest residence hall, provides some of the best views on campus — if not in the Midwest! In addition to #carthageviews of the lake from seven stories up, residents enjoy suite-style living and two floors of shared campus spaces for gaming, cooking, group meetings, or quiet studying. Learn more about all housing options.

    • You’re going to need brain fuel. Grab a morning coffee and a snack and Starbucks or Einstein Bros. Bagels. Later, meet friends at “The Caf,” where the specials change daily but the staples are constant, or swing through “The Stu” for wings, a burrito, or a sub. A new option, Carthage Cash, even covers some off-campus meals.

    • More than 90% of Carthage alumni report that they have secured a job or are continuing their studies six months after graduation. Visit The Aspire Center.

    • 91% of employers say critical thinking, communication, and problem-solving skills matter more than your major when it comes to career success. Learn more about how the liberal arts prepare you for a successful career.

    • Lots of schools wear the four-year label. Carthage stands behind it. More than 90% of Carthage graduates earn their degrees in four years. Learn more

    • Oscars. Emmys. Tonys. Golden Globes. The playwrights we’ve brought in have them. Each year, the Carthage Theatre Department commissions an original script by a renowned playwright for its New Play Initiative. Carthage students then work with the writer to stage it. 

    • Carthage has ranked as a top Fulbright producer for four of the past five years. Read about Carthage Fulbright winners.

    • Things look new at Carthage because they are. Our science center, student union, athletic and recreation center, and numerous residence halls have all been constructed or newly renovated in the last 15 years.

    • Carthage offers majors, minors, and concentrations in more than 50 areas of study, from marketing to neuroscience, nursing to music theatre.

    • Our Summer Undergraduate Research Experience offers select students a research budget, one-on-one mentoring with a professor, and 10 weeks of analyzing, deciphering — and getting paid.

    • So the lake is kind of a focal point, but there’s a lot more to love about our campus — like the fact that our more than 80-acre campus is also an arboretum and wildlife sanctuary. Focused on keeping campus lush forever, we plant between 50 and 75 new trees every year from a variety of species.

    • Carthage was founded in 1847. That’s more than 170 years of leaders, makers, and go-getters going out and going forth. Read more about Carthage’s rich history.

    • More than 90 percent of students receive financial aid. Carthage awards more than $20 million in scholarship and grant assistance. That includes $5.5 million in competitive scholarships in business, mathematics, science, languages, the fine arts, leadership, and overall academic strength. Learn what’s available.

    • Abraham Lincoln was an early Trustee of the College, and U.S. Secretary of State John Hay was a Carthage alum. The two still have a proud place on our campus. Spend some time with them in our Sesquicentennial Plaza. On warm days you’ll find professors leading their classes here.

    • Come to Carthage; hear yourself think — think … think …
      Legend has it that Sesquicentennial Plaza holds a perfect echo. Just stand with both your feet on the “1847,” face Straz, and start talking. “You’re the only one who can hear you, but you’ll be crystal clear,” promises English and theatre alumna Mikaley Osley.

    • Our Great Lake provides Carthage students with some amazing views. Think classes on the beach, lake views from the lab, and sunrises from your dorm room. “I love waking up in the morning with the sun shining off the lake. Nothing compares to the view in the morning,” recalls biology and neuroscience major Ann O’Leary.

    • Carthage awards up to 35 Presidential Scholarships each year, which range from $25,000 up to full tuition. Learn more.

    • For a full decade, NASA has selected Carthage students to conduct research aboard its zero-gravity aircraft. Lately, the stakes have risen. A team of underclassmen is grinding to prepare a tiny but powerful Earth-imaging satellite for launch to the International Space Station. Learn more about the space sciences at Carthage

    • Carthage is the only college or university in the Midwest where every freshman takes a full-year sequence of foundational texts of the Western intellectual tradition. Learn about Intellectual Foundations.

    • With a student-faculty ratio of 13:1, your professors will know who you are. They will also know who you want to be — and how to get you there. Meet our faculty.

    • There are more than 130 student organizations on campus, from Amnesty International to Fencing to Frisbee, Chem Club to Stand Up Comedy. See how easy it is to get involved.

    • True story: There are more than 27 art galleries, a dozen museums, and nine theatres within 25 miles of Carthage. Some highlights: The nationally recognized Racine Art Museum, the world-renowned Art Institute of Chicago, and the Milwaukee Art Museum. Learn more about our location.

    • What’s better than one professor? Two professors. What’s better than two professors? Two professors from totally different fields teaching a single class. There’s debate. Discussion. Differing perspectives. This is where the magic happens. That’s why every student takes a Carthage Symposium.

    • You can’t hide here — not with only 17 other students in the classroom with you. That’s going to be rough some mornings. But later, when you’re able to argue your point of view thoughtfully, express your opinions succinctly, and meet challenges head-on, without fear … Yep, you’ll thank us.

    • Carthage is ranked in the Top 5 in the country for student participation in short-term study abroad. Every J-Term, hundreds of students travel all over the world on faculty-led study tours. Imagine a month in Sweden, Rome, Cuba, Senegal, India, Japan …