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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 David Ratliff
Director and Assistant Professor of Economics
david.ratliff@usafa.edu
(719) 333-8746

Dr. Aaron Albert
Deputy Director and Associate Professor of Economics
aaron.albert@usafa.edu
(719) 333-1749

WANT TO STUDY ECONOMICS?