2022-2023 Undergraduate Academic Catalogue 
    Jul 12, 2024  
2022-2023 Undergraduate Academic Catalogue [ARCHIVED CATALOG]

Economics - Arts and Sciences

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Office: Sellinger Hall, Room 318
Telephone: 410‑617‑2357
Website: www.loyola.edu/sellinger

Chair: Jeremy Schwartz, Professor

Professors: John D. Burger; Frederick W. Derrick (emeritus); Fabio Mendez; John C. Larson (emeritus); Jeremy Schwartz; Charles E. Scott (emeritus); Norman H. Sedgley; Stephen J. K. Walters (emeritus)
Associate Professors: Arleigh T. Bell, Jr. (emeritus); Francis G. Hilton, (emeritus); Nune Hovhannisyan; John M. Jordan (emeritus); Srikanth Ramamurthy; Andrew Samuel; Kerria M. Tan; Nancy A. Williams (emerita)
Assistant Professors: John P. Dougherty
Instructors and Affiliate Faculty: Lynne C. Elkes
Executive in Residence: Sean P. Keehan

Economics is a social science that studies choices made by consumers, owners of physical resources, workers, entrepreneurs, corporations, nonprofit institutions, voters, politicians, and bureaucrats. The economic way of thinking is a powerful tool that illuminates real-world problems and processes. It provides consumers and those in business, government, and nonprofits with ways to wisely use scarce resources. Economics also provides the basis for the analysis of many social issues such as poverty, unemployment, environmental decay, and alternative economic systems. Because economics stresses the application of logic and reason to the analysis of contemporary and historical aspects of human behavior, economics is an important part of a liberal arts education.

The economics department at Loyola has a long history, dating back to its founding over 50 years ago. It consists of 11 full time faculty who are deeply committed to teaching and mentoring students and who are active in research and consulting. The department has an active student-run club, the Adam Smith Society, which sponsors speakers and social activities for students, faculty, and alumni. Outstanding students are eligible for selection to Omicron Delta Epsilon, the international economics honor society.  The department has produced many successful alumni who actively mentor current students through regular networking opportunities hosted by the department.

The department offers two majors: A Bachelor of Arts (B.A.) in Economics through Loyola College and a Bachelor of Business Administration in Business Economics (B.B.A. - Business Economics) through the Sellinger School. A quantitative economics concentration is available to both B.A. and B.B.A. majors

Learning Aims

  • Students will demonstrate knowledge of the major concepts, analytical and mathematical tools, and empirical findings in microeconomic and macroeconomic theory.
  • ​Students will understand and apply basic research methods in economics, including data analysis and be able to effectively communicate and report that analysis.
  • ​Students will demonstrate the ability to apply the analytical and mathematical tools and research methods to a range of economic and social problems and issues.





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