Robins School of Business
1 Gateway Road
University of Richmond, VA 23173
Bob Schmidt, Ph.D.
Goals for Economics Students
Each student shall understand fundamental economic theory.
Each student shall comprehend how economic models are formulated and tested.
Each student shall gain an understanding of economic institutions and be able to put them in sociological, economic, and political contexts.
An economics student will master the analytical tools necessary to evaluate personal choices, private business decisions, and government policies. The diversity of our course work can teach students to:
Recognize the influences of taxes and government spending on the economy.
Measure movements in interest rates.
Understand policies made by the Federal Reserve Bank.
Determine the value of international currencies.
Interpret the influence of events in other parts of the world on the United States' economy.
Evaluate the effect of legal structures on economic efficiency.
Evaluate the influence of advertising on consumer behavior.
Students may pursue an economics major from within the School of Arts and Sciences or the Robins School of Business. Liberal arts students earn a Bachelor of Arts degree; business students earn a Bachelor of Science in Business Administration with a major in economics.
Upper-level elective courses are offered in the areas of business economics, international economics, economic history, public policy, and quantitative economics.
Options in the Study of Economics
There are various options available to the liberal arts student or the business student.
Students may major in economics by completing a required number of units of coursework in the department. Requirements for the major include: Principles of Microeconomics, Principles of Macroeconomics, Intermediate Economics, Intermediate Macroeconomics, Business Statistics II and five additional economics courses chosen by the student.
Mathematical Economics Major
Arts and Sciences students may choose a combined Mathematical Economics major. Economics department requirements for the major include: Principles of Microeconomics, Principles of Macroeconomics, Intermediate Microeconomics, Intermediate Macroeconomics, Econometrics, Mathematical Economics and one additional elective chosen from Econ 300, Econ 310, Econ 330, Econ 331, Econ 332 or Econ 360.
Arts and Sciences students may also minor in economics. Requirements for the minor include: Principles of Microeconomics, Principles of Macroeconomics, Intermediate Microeconomics, Intermediate Macroeconomics, and two additional economics courses chosen by the student.
Business school students majoring in business administration may choose an economics concentration. Liberal arts students majoring in international studies may pursue a concentration in international economics.
The Learning Environment
Each major is assigned to a faculty advisor within the economics department. The advisor will help the student arrange a schedule of coursework, advise students about degree requirements or arrange a study abroad program.
To promote interaction with the professor, upper level class sizes are limited to 25 students. In addition to giving regular lectures, the faculty often invite representatives from business and government into the classroom. Professors also maintain office hours that are convenient for students. If problems arise, students are encouraged to visit the professor's office and seek additional help.
In conjunction with the classroom lectures, economics majors are required to utilize the computer laboratory. Almost every advanced course in the major includes a computer exercise. All students are required to master the statistical packages they will encounter in business.
Sample list of graduate schools accepting recent economics graduates:
Johns Hopkins University
University of Alabama
University of Chicago
University of Georgia
University of Rochester
University of Texas
University of Virginia
Sample list of companies hiring recent economics graduates:
The Department of Justice
The Federal Reserve Board
The James River Corporation
Vanguard Mutual Funds