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ECONOMICS

Economics is the scientific study of decision making. Individuals and institutions have limited resources, forcing them to make tradeoffs, and economists analyze these tradeoffs to recommend optimal decisions and make predictions about behavior.

Cadets majoring in economics will be exposed to foundational courses in microeconomics, macroeconomics, and econometrics. Microeconomics is the study of resource allocation at the producer and consumer levels. It includes an investigation of government policies that can help or hinder the efficiency of market outcomes. Macroeconomics aggregates market results to study economies at the national level. Macroeconomics can also focus on international and regional issues that influence economies. Econometrics is used at all levels of economics to evaluate theories and policy outcomes using statistical techniques.

Program electives allow cadets to focus on business, finance, international economics, public policy or quantitative economics. Cadets acquire analytic and empirical tools necessary to solve a wide range of problems such as resource allocation, production efficiency, incentive design and policy evaluation. The economics major develops critical thinking and problem-solving skills and is widely recognized as a solid background for leadership careers in business, government and law.

POTENTIAL JOB ASSIGNMENTS
Within the Air Force
  • 61A – Operations Research Analyst
  • 63x – Program Management
  • 64P – Contracting
  • 65x – Financial Management and/or Cost Analysis
Outside the Air Force
  • Acquisitions analyst
  • Business manager
  • Pricing analyst
  • Statistician
  • Financial consultant

SAMPLE COURSES
  • Competitive Markets
  • Introduction to Game Theory
  • Economics of Development and Conflict
  • Money, Banking and Financial Institutions
SUGGESTED COURSE SEQUENCE
4th CLASS YEAR (FRESHMAN) 3RD CLASS YEAR (SOPHOMORE) 2ND CLASS YEAR (JUNIOR) 1ST CLASS YEAR (SENIOR)
Beh Sci 110

Chem 100

Com Sci 110

English 111

Engr 101

For Lang 1

For Lang 2

History 100

Math 141

Math 142

Physics 110

Biology 315

Chem 200

Econ 201

Econ 240

English 211

Engr Mech 220

History 300

Law 220

MSS 200

Physics 215

Pol Sci 211

Ops Rsch 310

Aero Engr 315

Beh Sci 310

ECE 315

Econ 332

Econ 333

Econ 355

Econ 356

Econ 365

Econ Elective

Math 356

Mgt 341

Philos 310

Academy Opt

Astro Engr 310

Econ 450

Econ 465

Econ 480

Econ Elective

English 411

Mgt 400

MSS 415/416

Soc Sci 412

For full program requirements and course descriptions, download the current Curriculum Handbook.

VALIDATION AND TRANSFER CREDITS

Cadets can receive credit for Econ 201 from a Microeconomics or Principles of Economics class. Cadets can also receive credit for Econ 301 from a Macroeconomics class. Transfer credits are awarded for:

  • AP score of 4 or 5
  • IB score of 5, 6, or 7
  • B or higher at another university or college

All transfer credits for equivalent classes will be determined by the department in accordance with the curriculum handbook. Contact the Economics AIC to learn about qualifying for transfer credits in these cases.

CONTACT US

Lt Col James Mulcey
Instructor of Economics
james.mulcey@usafa.edu
(719) 333-3068

1st Lt David Waites
Instructor of Economics
david.waites@usafa.edu
(719) 333-9283

WANT TO STUDY ECONOMICS?