Whatever the reason, students soon discover that economics
is a fascinating and important field of study. They learn the
fundamental principles of a market economy, and the costs and
potential benefits of public policy designed to alter them. They
learn why some individuals have very high incomes while others
are unemployed. They study the effects of government activity
on the economy and learn why it makes sense to raise taxes sometimes
and to lower them at others. They study how the various national
economies interact with each other, and they understand how high
interest rates in the United States can result in unemployment
for a bicycle maker in England. They also learn that other countries
make economic decisions in different ways and that all these matters
are not just academic concepts.
At Wooster, we believe that economics should be a very practical
subject, that it should be applied to the solution of problems
faced by human beings. The first step toward this goal is to understand
how the economic system works. After that, one may apply that
knowledge toward making improvements. The Economics Major begins
with a solid core of economic theory: Principles of Economics,
Intermediate Macroeconomic Theory, and Intermediate Microeconomic
Theory. These courses provide the preparation for a wide variety
of applied economics courses, which students choose according
to their own individual interests.
Among the current applied courses are:
In addition to selecting from these courses, each student also
completes a course in economic statistics, two courses in mathematics,
a junior independent study project, and a senior thesis.
provides students with the opportunity to examine a topic of special
interest in depth. In the junior year, students spend one semester
learning the tools and skills of economic research and writing
a short research paper. In the senior year, each (and every!)
student works with a faculty member to conduct an intensive
of a subject of the student's choosing which results in the senior
thesis. Some of the topics students have worked on recently include:
an investigation of developing countries' foreign debts, an analysis
of declining labor union membership, the relationship between
a baseball player's performance and salary, an analysis of health
care in the 1990s, and the effectiveness of minimum wage legislation
as an anti-poverty policy.
These research efforts are supported by excellent research
& Gault Libraries house over 900,000 items, including
a very good undergraduate economics collection, and is a partial
depository for government documents. The College's sophisticated
computer facilities are available to students for research
and course-related projects.
Graduates of the Economics program make good use of the Career Services Office and pursue
a variety of careers. Approximately 40% enter a graduate or
school upon graduation: economics, law, public administration,
or business are the most common. The majority begin careers in
business, commerce, or finance immediately after graduation, and
alumni report that the Economics Major is
good preparation for such careers. Approximately 30% of this group
also enter graduate programs within five years of graduation,
mostly in pursuit of the MBA degree. Wooster graduates have established
good records in graduate programs, and it is common for them to
be admitted to the most prestigious graduate schools.
Have we answered your questions about our Program and how you
might fit into it? If not, use the form below to send us a message.
Or, send an e-mail to a faculty member listed at the bottom of
this page. Be sure to include your e-mail address so that we
can respond to you.
The department has a strong and versatile faculty with interests
diverse enough to allow each course to be taught by a specialist
in that area. The department is small enough that students and
faculty members can come to know each other well. Student evaluations
consistently rate the Economics faculty high in terms of accessibility
and teaching effectiveness. All faculty teach Principles of
Economics and intermediate theory courses.
Burnell, Professor of Economics. B.A. Connecticut; M.A.,
Burnell, Professor of Economics and Department Chair.
B.A. Western Illinois; M.A., Ph.D. Illinois.
Adjunct Professor of Business Economics.. CPA (Ohio)
Grim, Visiting Associate Professor of Business Economics.
B.A. Case Western Reserve; Ph.D., Purdue
Assistant Professor of Economics, B.A., Macalester College; Ph.D.
University of Minnesota
John W. Sell,
R. Wilson Professor of Business Economics. B.S. Pennsylvania
State; M.A., Ph.D., U.C.L.A
Assistant Professor of Economics, B.A. Bates 1983, M.A., New Hampshire,
Wellington, Associate Professor of Economics. B.A. Bucknell,
M.A., Ph.D. University of Michigan.