Economics
Overview
The Folsom Lake College economics curriculum studies how people and societies produce various commodities and distribute them for consumption, now or in the future. FLC’s economics offerings include the study of the American economic system using techniques for the analysis of contemporary economic problems.
- Accountant
- Arbitrator
- Attorney
- Budget Analyst
- Business Analyst
- Business Conditions Forecaster
- Commodity Economist
- Commodity Price Forecaster
- Development Economist
- Economic Analyst
- Economic Forecaster
- Industrial Relations Specialist
- Investment Analyst
- Labor Economist
- Macro Economist
- Manpower Economist
- Natural Resource Economist
- Operations Research Analyst
- Project Economist
- Research Economist
Most career options require more than two years of study.
- Knowledgeable instructors and professionals in their fields
- Good general overview and conceptual framework of economic issues
- Opportunity to combine with business and other related areas of study for a more comprehensive education
- Transfer opportunities
- A lab with tutorial assistance
Program Maps
- Division Dean Carlos Lopez
- Department Chair Jennifer Black
-
Meta-Majors
Business and Management
Liberal Arts and Social Sciences - Phone (916) 608-6849
- Email lopezc@flc.losrios.edu
Associate Degrees for Transfer
A.A.-T. in Economics
The Associate in Arts in Economics for Transfer degree program provides students with a major that fulfills the general requirements of the California State University for transfer. Students with this degree will receive priority admission with junior status to the California State University system. Students interested in transferring to a CSU campus to pursue a bachelor’s degree in Economics should meet with a counselor to confirm the courses required for lower-division preparation in the major.
This program has the following completion requirements:
(1) Completion of 60 semester units or 90 quarter units that are eligible for transfer to the California State University, including both of the following:
(A) The Intersegmental General Education Transfer Curriculum (IGETC) or the California State University General Education – Breadth Requirements.
(B) A minimum of 18 semester units or 27 quarter units in a major or area of emphasis, as determined by the community college district.
(2) Obtainment of a minimum grade point average of 2.0.
ADTs also require that students must earn a C or better in all courses required for the major or area of emphasis. A “P” (Pass) grade is also an acceptable grade for courses in the major if the course is taken on a Pass/No Pass basis.
Catalog Date: August 1, 2023
Degree Requirements
| Course Code | Course Title | Units |
|---|---|---|
| ECON 302 | Principles of Macroeconomics | 3 |
| ECON 304 | Principles of Microeconomics | 3 |
| MATH 341 | Calculus for Business and Economics (4) | 4 - 5 |
| or MATH 400 | Calculus I (5) | |
| ECON 310 | Statistics for Business and Economics (3) | 3 - 4 |
| or STAT 300 | Introduction to Probability and Statistics (4) | |
| A minimum of 6 units from the following: | 6 | |
| One course must be taken from List A and one additional course from List A or List B. | ||
| List A | ||
| ACCT 301 | Financial Accounting (4) | |
| ACCT 311 | Managerial Accounting (4) | |
| MATH 401 | Calculus II (5) | |
| List B | ||
| BUS 320 | Concepts in Personal Finance (3) | |
| or ECON 320 | Concepts in Personal Finance (3) | |
| MATH 402 | Calculus III (5) | |
| MATH 410 | Introduction to Linear Algebra (3) | |
| Total Units: | 19 - 21 | |
The Associate in Arts in Economics for Transfer (AA-T) degree may be obtained by completion of 60 transferable, semester units with a minimum overall grade point average (GPA) of 2.0, including (a) a minimum grade of "C" (or "P") for each course in the major or area of emphasis described in the Required Program, and (b) either the Intersegmental General Education Transfer Curriculum (IGETC) or the California State University General Education-Breadth Requirements.
Student Learning Outcomes
Upon completion of this program, the student will be able to:
- explain terms and concepts used in macroeconomics and microeconomics.
- evaluate models to explore consequences of economic policy proposals on households and businesses.
- evaluate economic models to explore the consequences of macroeconomic events and the probable consequences of macroeconomic policy proposals on the whole economy.
- solve problems requiring the application of economics, statistics and mathematics.
- apply accounting and economic concepts and principles in making decisions about firm operations.
Career Information
Career Opportunities: There are a wide array of job opportunities in business, finance, government, and other sectors for an individual with an undergraduate degree in economics. Business firms of all sizes provide employment and career opportunities including jobs in banking, budget and market analysis, and in sales. Federal, state, and local government agencies require and employ individuals with training in economics to carry benefit-cost analysis and as research assistants and analysts. Job opportunities also exist in education and journalism. Economies and individual markets are dynamic, and business economists help firms understand and adapt to changes occurring in the economy and in specific markets. Individuals with economics degrees work in a broad range of fields with jobs with federal, state, and local government agencies. Job opportunities are expanding for employment for those seeking jobs with global or international focus.
Associate Degrees
A.A. in Interdisciplinary Studies: Social and Behavioral Sciences
The Interdisciplinary Studies degree is designed for students who wish a broad knowledge of arts and sciences plus additional coursework in a prescribed “Area of Emphasis”. This program is a good choice for students planning on transferring to the California State University or University of California. The student will be able to satisfy general education requirements, plus focus on transferable coursework that relates to a specific major and/or individual interest. This degree will have an "Area of Emphasis" in Social and Behavioral Sciences. These courses emphasize the perspectives, concepts, theories, and methodologies of the disciplines typically found in the vast variety of disciplines that comprise study in the Social and Behavioral Sciences. Students will study about themselves and others as members of a larger society. Topics and discussions to stimulate critical thinking about ways people have acted in response to their societies will allow students to evaluate how societies and social subgroups operate. (Possible majors at a four-year institution include, but are not limited to: history, sociology, social studies, psychology, and family consumer science.)
It is highly recommended that students consult a counselor to determine the classes within each area that will best prepare them for their intended transfer major.
Catalog Date: August 1, 2023
Degree Requirements
| Course Code | Course Title | Units |
|---|---|---|
| A minimum of 18 units from the following: | 18 | |
| Select courses from at least 3 different disciplines. | ||
| ADMJ 300 | Introduction to Administration of Justice (3) | |
| ADMJ 302 | Community Relations: Multicultural Issues (3) | |
| ADMJ 320 | Concepts of Criminal Law (3) | |
| ANTH 310 | Cultural Anthropology (3) | |
| ANTH 319 | Visual Anthropology: Introduction to Ethnographic Film (3) | |
| ANTH 323 | Introduction to Archaeology (3) | |
| ANTH 330 | Magic, Witchcraft, and Religion (3) | |
| ANTH 341 | Introduction to Linguistics (3) | |
| BUS 320 | Concepts in Personal Finance (3) | |
| BUS 330 | Managing Diversity in the Workplace (3) | |
| BUS 340 | Business Law (3) | |
| BUS 345 | Law and Society (3) | |
| COMM 325 | Intercultural Communication (3) | |
| COMM 341 | Organizational Communication (3) | |
| COMM 351 | Mass Media and Society (3) | |
| COMM 363 | Introduction to Communication Theory (3) | |
| ECON 302 | Principles of Macroeconomics (3) | |
| ECON 304 | Principles of Microeconomics (3) | |
| ECON 320 | Concepts in Personal Finance (3) | |
| ECE 312 | Child Development (3) | |
| ECE 314 | The Child, the Family and the Community (3) | |
| ECE 330 | Infant and Toddler Development (3) | |
| ECE 430 | Culture and Diversity in Early Childhood Education (3) | |
| GEOG 310 | Human Geography: Exploring Earth's Cultural Landscapes (3) | |
| GEOG 322 | Geography of California (3) | |
| HIST 307 | History of World Civilizations to 1500 (3) | |
| HIST 308 | History of World Civilizations, 1500 to Present (3) | |
| HIST 310 | History of the United States (To 1877) (3) | |
| HIST 311 | History of the United States (1865 - Present) (3) | |
| HIST 314 | Recent United States History (3) | |
| HIST 319 | American Environmental History (3) | |
| HIST 331 | Women in American History (3) | |
| HIST 344 | Survey of California History: A Multicultural Perspective (3) | |
| HIST 368 | History of France (3) | |
| JOUR 310 | Mass Media and Society (3) | |
| NUTRI 310 | Cultural Foods of the World (3) | |
| POLS 301 | Introduction to Government: United States (3) | |
| POLS 302 | Comparative Politics (3) | |
| POLS 310 | Introduction to International Relations (3) | |
| POLS 320 | Introduction to Political Theory (3) | |
| PSYC 300 | General Principles (3) | |
| PSYC 312 | Biological Psychology (4) | |
| PSYC 320 | Social Psychology (3) | |
| PSYC 335 | Research Methods in Psychology (3) | |
| PSYC 340 | Abnormal Behavior (3) | |
| PSYC 356 | Human Sexuality (3) | |
| PSYC 368 | Cross Cultural Psychology (3) | |
| PSYC 370 | Human Development: A Life Span (3) | |
| PSYC 372 | Child Development (3) | |
| SOC 300 | Introductory Sociology (3) | |
| SOC 301 | Social Problems (3) | |
| SOC 310 | Marriage and the Family (3) | |
| SOC 321 | Race, Ethnicity and Inequality in the United States (3) | |
| SOC 341 | Sex and Gender in the U.S. (3) | |
| SOC 379 | Making Social Change (3) | |
| SWHS 331 | Cross Cultural Psychology (3) | |
| Total Units: | 18 | |
The Interdisciplinary Studies: Social and Behavioral Sciences Associate in Arts (A.A.) degree may be obtained by completion of the required program, plus general education requirements, plus sufficient electives to meet a 60-unit total. See FLC graduation requirements.
Student Learning Outcomes
Upon completion of this program, the student will be able to:
- evaluate how societies and social subgroups operate (Social and Behavioral Sciences).
Economics (ECON) Courses
ECON 302 Principles of Macroeconomics
- Units:3
- Hours:54 hours LEC
- Prerequisite:MATH 120 with a grade of "C" or better, or placement through the assessment process.; or one full year of High School Algebra II with grades of "C" or better in each semester.
- Transferable:CSU; UC
- General Education:AA/AS Area V(b); CSU Area D; IGETC Area 4
- C-ID:C-ID ECON 202
- Catalog Date:August 1, 2023
This course is a graphical and functional analysis of the economy as a whole. It focuses on the economy's well-being, problems, and possible solutions. Major topics include: market demand and supply; macroeconomic sectors, goals, and problems (unemployment, inflation, business cycles, and deficits); the economy's output and price level; aggregate demand, aggregate supply, and equilibrium; and macroeconomic policies (fiscal and monetary) aimed at solving problems and stabilizing the economy. Related topics such as international trade, international finance, and economic growth are also discussed. Coursework includes solving algebraic equations and graphing straight and curvilinear lines as taught in Intermediate Algebra.
Student Learning Outcomes
Upon completion of this course, the student will be able to:
- analyze and apply the basic macroeconomic principles and concepts.
- evaluate how prices and production levels (output) are determined in markets.
- analyze how the economy works using supply and demand analysis.
- interpret why macroeconomic problems occur.
- evaluate government policies designed to deal with macroeconomic problems.
ECON 304 Principles of Microeconomics
- Units:3
- Hours:54 hours LEC
- Prerequisite:MATH 120 with a grade of "C" or better, or placement through the assessment process.; or one full year of High School Algebra II with grades of "C" or better in each semester.
- Transferable:CSU; UC
- General Education:AA/AS Area V(b); CSU Area D; IGETC Area 4
- C-ID:C-ID ECON 201
- Catalog Date:August 1, 2023
This course is a graphical and functional analysis of the units (sectors) making up the economy. The focus is on the sectors’ choices and interactions, microeconomic goals (efficiency and equity), problems, and solutions. Major topics include basic principles of economics; basic economic analyses; demand, supply, and equilibrium in a market; markets and applications; costs and production; product and resources markets; and microeconomic problems (externalities, public goods, and income inequality). Time permitting, related topics such as international trade and health economics may also be discussed. Coursework includes doing arithmetic problems, solving algebraic equations, and graphing straight and curvilinear lines.
Student Learning Outcomes
Upon completion of this course, the student will be able to:
- analyze and apply the basic microeconomic principles and concepts.
- examine how prices and production levels (output) vary in different markets.
- analyze how different sectors in the economy interact with one another.
- interpret why microeconomic problems occur.
- evaluate government policies designed to deal with microeconomic problems.
ECON 307 Global Issues in the Political Economy
- Units:3
- Hours:54 hours LEC
- Prerequisite:None.
- Transferable:CSU; UC
- General Education:AA/AS Area V(b); AA/AS Area VI; CSU Area D (effective Fall 2023); IGETC Area 4 (effective Fall 2023)
- Catalog Date:August 1, 2023
This course introduces students to the global issues including the origins, current status, and future trends of major issues confronting the global economy. Topics will include economic, political, and environmental issues including population trends, economic development, issues migration, inequality, basic human needs (for food, water, health care), and human rights. Additional emphasis will be placed on global responsibility, economic power, international conflict, security concerns, environmental problems, globalization, politics, foreign relations, trade policies, and international politics.
Student Learning Outcomes
Upon completion of this course, the student will be able to:
- evaluate the different world economies and the impact of globalization.
- identify major recurring and emerging global issues.
- examine and analyze specific global problems of international or regional nature, and consider possible approaches solutions from an international perspective.
- evaluate the different economic philosophies, models, and policies countries take to provide solutions to resolve global issues.
- analyze the interconnections between and among global issues.
- compare and evaluate the efficacy of national, regional, and international efforts to solve the problems associated with global issues.
ECON 310 Statistics for Business and Economics
- Units:3
- Hours:54 hours LEC
- Prerequisite:MATH 333 with a grade of "C" or better, or placement through the assessment process.
- Transferable:CSU; UC
- General Education:AA/AS Area II(b); CSU Area B4 (effective Fall 2023); IGETC Area 2 (effective Fall 2023)
- Catalog Date:August 1, 2023
This course focuses on statistical concepts commonly used in economics, business, and other behavioral sciences. It covers the collection, organization, presentation, analysis, and interpretation of numerical data. Major topics include organizing and describing data using graphs, tables, and charts; calculating and interpreting descriptive statistics including measures of central tendency and measures of dispersion; probability and sampling distributions; statistical inference; correlation and linear regression; analysis of variance, chi-square and t-tests. Computer software and/or hand calculations will be used in this course to calculate, organize, and display statistical information. Results generated either by hand calculation, the use of computer software, articles or textbook examples will be used to analyze and interpret statistical findings.
Student Learning Outcomes
Upon completion of this course, the student will be able to:
- define statistical terms.
- organize and present data as it relates to a variety of topics such as tax, income, unemployment and inflation.
- calculate and analyze descriptive statistics.
- conduct and interpret hypothesis tests including Type I and Type II errors; formulate hypothesis tests involving samples from one or two populations; select the appropriate technique for testing a hypothesis and interpret the results.
- identify basic relationships of probability.
- use linear regression and Analysis of Variance (ANOVA) for estimation and inference, and interpret the associated statistics.
- apply appropriate statistical techniques to analyze and interpret applications based on data from disciplines including business and social sciences.
ECON 320 Concepts in Personal Finance
- Same As:BUS 320
- Units:3
- Hours:54 hours LEC
- Prerequisite:None.
- Transferable:CSU; UC
- General Education:AA/AS Area V(b); AA/AS Area III(b)
- Catalog Date:August 1, 2023
This course is designed to assist individuals in analyzing their financial affairs. Elements and conceptual basis of financial planning, analysis, and decision making in areas of budgeting, taxes, borrowing, money management, insurance, investments, and retirement will be examined with an emphasis on principles to develop students' economic decision making. Students will be using mathematical concepts as well as reading and interpreting written and oral instructions. This course is not open to students who have received credit for BUS 320.
Student Learning Outcomes
Upon completion of this course, the student will be able to:
- evaluate economic needs and goals and design financial models to achieve them.
- analyze the changing economic environment.
- apply economic principles and concepts of individual economic planning.
- analyze the conceptual basis of various economic tools available to the individual as well as the terminology used in their development and implementation.
ECON 495 Independent Studies in Economics
- Units:1 - 3
- Hours:54 - 162 hours LAB
- Prerequisite:None.
- Catalog Date:August 1, 2023
ECON 499 Experimental Offering in Economics
- Units:0.5 - 4
- Prerequisite:None.
- Transferable:CSU
- Catalog Date:August 1, 2023
This is the experimental courses description.
Faculty
Programs and Majors
Liberal Arts and Social Sciences
This program is part of the Liberal Arts and Social Sciences meta-major.
Check Out Degree Planner
If you're interested in a transfer degree (AA-T or AS-T), then check out Degree Planner, a tool that helps you complete your degree efficiently by mapping out what courses to take and when to take them.