Economics

At Hanover, studying economics will lead you to an understanding of the financial issues that drive local and world events — wealth, poverty, business, politics, stock markets, recession, employment, taxes and more. By developing a broad perspective, you'll prepare for much more than making a living, you'll prepare to make a difference.

Through meaningful service and opportunities to travel on extended field trips with our faculty in the U.S. and abroad, you’ll learn about economic challenges facing today’s world, and explore how you can help overcome them. The study of economics prepares you to excel in the continually changing and increasingly interconnected global economy.

Some questions of economics

In small classes, you'll engage with your professors to tackle fascinating questions. Maybe your class or research project will address issues such as:

  • Why do we have unemployment?
  • What causes inflation?
  • Why are some nations rich and some poor?
  • Why do nations trade?
  • Is the stock market important?
  • What can we do about environmental pollution?
  • How could taxing a product actually be a good thing?

What do economics majors study?

  • Microeconomics
  • Macroeconomics
  • Quantitative methods for business and economics
  • Money and financial markets
  • Introduction to econometrics
  • Other topics that interest you, from international trade to environmental economics to labor economics

Have you already met this professor?

If you prepared to take the high school AP exam for economics, you may have benefited from the work of Eric Dodge, Ph.D. This Hanover economics professor is the author of the AP review, "5 Steps to a 5: Microeconomics/Macroeconomics," published by McGraw Hill.

Companies our graduates have worked for have included:

  • John Hancock
  • Eli Lilly and Company
  • Prudential Financial
  • Federated Insurance
  • Humana, Inc.
  • PNC Bank
  • Fifth Third Bank
  • Oxford Financial Group, Ltd.
  • Wells Fargo Financial
  • Cincinnati Financial
  • River Glen Insurance
  • Lincoln Financial
  • State of Illinois
  • Discover Cards
  • National City Corporation
  • Provident Bank
  • Fidelity Investments
  • UBS Paine Webber
  • LaSalle Bank
  • Charles Schwab & Co.
  • Indiana Department of Financial Institutions
  • MainSource Bank
  • U.S. Department of Labor
  • Cummins

Previous graduates' career and professional placements have included:

  • Financial Representative
  • Financial Advisor
  • Financial Examiner
  • Personnel Management
  • Underwriter
  • Financial Analyst
  • Loan Office Sales Representative
  • Production Management
  • Banker
  • Government Analyst

Graduate school placements have included:

  • University of Louisville
  • Miami University
  • University of Wisconsin
  • University of Cincinnati
  • Pepperdine University
  • Indiana University
  • University of Iowa
  • University of Illinois
  • Purdue University
  • University of Washington
  • University of California
  • Indiana University-Purdue University Indianapolis (IUPUI)

Courses

Number
Name
Credits
Description
ECO 113
Principles of Microeconomics
1
Introduction to the basic principles and theories of microeconomics. Emphasis is given to studying individual behavior for both consumers and firms within the context of a market economy.
ECO 114
Principles of Macroeconomics
1
Overview of basic principles and theories associated with the establishment of market prices, national income determination, and fiscal and monetary policy
ECO 161
Foundations of Economics
1
Theories describing resource allocation in a market economy will be introduced. The individual behavior of both consumers and firms will be studied in the context of a market economy, along with an overview of basic principles related to national income determination and fiscal and monetary policy. Partially satisfies the Modern Society LADR.
ECO 213
Intermediate Microeconomics
1
Examination of the basic assumptions and methods of analysis employed in microeconomics, with an emphasis on demand, production, cost, and market structures. Prerequisites: 113 and Mathematics 112, 121, or equivalent.
ECO 214
Intermediate Macroeconomics
1
Analysis of national income, employment, price level determination, and monetary and fiscal policies, emphasizing contemporary macroeconomic issues. Prerequisites: 114 and Mathematics 112, 121, or equivalent.
ECO 221
Environmental Economics
1
A study of environmental issues, policies, and debates from an economic perspective. Introductory concepts such as negative externalities and public goods are expanded and integrated into modern economic models currently being used to study the impact that economic activity has upon the environment. Prerequisite: 113.
ECO 222
Economics of the European Union
1
An examination of the economics of the European Union (EU) and, in particular, the economics of the European Monetary Union (EMU). The main focus is on the economic costs and benefits of a monetary union, with specific reference to EMU member countries, and what member countries could do to maximize the benefits and/or minimize the costs. In addition, the EU governance structure will be examined as well as the role and purpose of various EU institutions. Offered during Spring Term with a two-week field trip to Brussels, Belgium. Prerequisite: Eco 114.
ECO 223
Economics -Poverty & Discrimination
1
This course explores how the discipline of economics can explain the causes and effects of poverty and discrimination on various segments of the population. Students will be introduced to economic theories of poverty and discrimination, measures of poverty and discrimination, and successesand failures of public policies designed to reduce poverty and discrimination in the U.S. International dimensions of poverty and discrimination will also be discussed. Prerequisites: Eco 113 or Eco 114 or Eco 161. Offered during Spring Term and includes service learning (visiting and volunteering at homeless shelters and soup kitchens in Cincinnati, Louisville, Indianapolis and Madison).
ECO 257
Quantitative Meth. for Bus/Eco
1
Introduction to the quantitative methods used in business and economics with an emphasis on their application. Methods studied include confidence intervals, hypothesis testing, correlation analysis, and simple linear regression. Prerequisite: 113 or 114.
ECO 315
U. S. Economics History
1
Utilizes economic theory in an examination of the United States' economic growth and development from the colonial period until World War II. Prerequisite: 113 or 114.
ECO 321
Money & Financial Markets
1
Structure and operation of financial markets with emphasis on money creation by depository institutions and regulation by the Federal Reserve System. Prerequisite: 113 and 114.
ECO 331
Labor Economics
1
Examines models of worker and employer decisions in labor markets. Both parties operate in the face of scarce resources, government regulation, changing demographic patterns, and other economic forces. Offered at least every other Spring Term with a one-week field trip in Washington, D.C. Prerequisite: 213.
ECO 333
International Trade & Finance
1
Theory of foreign trade, effects of trade restriction, balance of payments analysis, foreign exchange markets, and individual country studies. Prerequisite: 114.
ECO 335
Managerial Economics
1
Application of economic theory to business decision making based on the integration of microeconomics, mathematics, and statistics. Prerequisites:213, 257, and Mat 112, 121, or equivalent.
ECO 337
Economic Development
1
Examination of the concepts, practices, and problems of economic development, with particular emphasis on the less developed countries of Asia, Africa, and Latin America. Prerequisite: 113 or 114.

Faculty