Economics Degree – Wayne State College Nebraska

Explore the Economics degree program

At its most basic level, economics is a science that focuses on how resources are used to meet human needs and wants. By studying economics, you can gain a better understanding of the global economy and the forces that shape it, including trade, investment, and government policies. Economics is a broad field and can be useful in a variety of industries, including positions in finance, consulting, research, public policy, law, and more.

In the Economics degree program at Wayne State, you’ll learn about microeconomics and how it is used to analyze supply and demand, production costs, pricing decisions, and how those prices impact consumer behavior. You’ll also study macroeconomics, focusing on the economy as a whole rather than individual consumers or producers. Factors such as employment rates, inflation, interest rates, international trade, and policies will be explored to understand economic growth and recessions. You’ll also learn how to create and use statistical models to analyze data and predict economic outcomes.

Many employers value the analytical and quantitative skills that come from graduates with an Economics degree, and it can open the door to high-paying careers. The Economics program at Wayne State can be a stimulating field of study, and it can provide you with valuable knowledge to help you succeed in a variety of careers.

View program courses Download program fact sheet (PDF)

Fast facts

Degree options:

B.A. or B.S. in Business Administration / Economics
Minor in Economics

Delivery format: On campus (Wayne)

Program credit hours: 69

Business foundation (21 credit hours)
Business core (27 credit hours)
Economics concentration (21 credit hours)

Note: Students must also take 30 credit hours of General Studies courses. A total of 120 credit hours are needed to graduate from WSC. Additional majors or minors can be added to help meet graduation requirements.

School: Business and Technology

Department: Business and Economics

Prepare for your future

Opportunities and outcomes

Economics topics covered

Application of economics to decision making in business
Economics of agriculture and natural resources
Global and domestic economic theory
Policies and impact on trade, labor, banking, etc.
Monetary theory, policies, and banking
Statistical analysis of data in business and economics
Legal and ethical standards of business

Student learning outcomes

Demonstrate an understanding of the core areas of business, which includes accounting, economics, management, quantitative business, finance, marketing, legal environment, information systems, and international
Demonstrate effective skills in written and oral communication in business settings
Work effectively in a team environment
Apply ethical frameworks to formulate management decision alternatives

Career Scholars Program

Students majoring in Economics are eligible to take part in the Career Scholars Program. The Career Scholars Program offers a generous scholarship package while you embark on a unique cooperative education journey starting your freshman year at Wayne State. During your time here, you’ll participate in career readiness activities, job site visits, job shadowing, and more - all while learning the fundamentals of professional practice. After three years on campus, you’ll complete your senior year by working at a paid job in your chosen field. Job locations include Norfolk or Grand Island, Neb., where you'll live in community housing with fellow Career Scholars students.

Career Scholars Program

Economics internships

Our outstanding Career Services Office is available to help you find economics internships and career opportunities. Students recently completed internships at the following locations:

First National Bank of Omaha
Netusil Financial Services

Career services and internships

Graduates of the Economics degree program work in their chosen field using the skills they learned while at Wayne State College. Each year, eager employers welcome WSC graduates into their organizations.

Jobs of recent graduates:

Accounts Payable Specialist – Kiewit (Omaha, Neb.)
City Clerk – City of Bloomfield (Bloomfield, Neb.)
Financial Advisor – Netusil Financial Services (Carroll, Iowa)
Manager – Right Wing Acres (Pilger, Neb.)
Loan Processor – Midwest Bank (Norfolk, Neb.)
Research Development – Bayor Crop Science (Beaver Creek, Neb.)
Universal Banker – First National Bank, (Norfolk, Neb.)

Public disclosure of student achievement

job or grad school placement rate
within six months of graduation
Data based on most recent
employment outcomes survey

After graduating from Wayne State College, recent grads pursued advanced degrees at the following schools:

Business Administration (MBA) – Wayne State College (Wayne, Neb.)

Cost of attendance

Most Affordable College in Nebraska

- College Affordability Guide, 2024

Wayne State is considered the most affordable four-year college or university in Nebraska. With same rates for in- and out-of-state students, our tuition guarantee, and our generous scholarship packages, it is clear to see how WSC earned the title. In fact, the average remaining annual cost of attendance for 2024-25 is $2,268 for undergraduate students after financial aid and scholarships.

Credits: 3
Description: Development of critical communication skills used in business and industry. Emphasis on assisting Business students to become more effective and efficient writers. Includes instructions, reports, memos, and letters.
Prerequisite: ENG 102 Composition Skills
Credits: 3
Description: Introduction to the study of law, the law of contracts, agency and employment, negotiable instruments, personal property and bailments, and the laws governing the sale of goods.
Credits: 3
Description: A study of the following statistical tools as applied to the business and economic milieu: collection and presentation of data, distributional measurements, probability and sampling, statistical inferences, linear regression and correlation, analysis of variance, and selected nonparametric statistics.
Prerequisite: MAT 105 Intermediate Algebra, or General Studies math requirement
Credits: 3
Description: A study of the role of accounting in the business environment. Emphasis is on applying basic terminology, concepts, processes, and outputs of the modern accounting system; development of an understanding of the nature and purpose of the major financial statements; and development of the ability to evaluate financial accounting information in problem-solving and decision making.
Credits: 3
Description: Continuation of BUS 240 Accounting I. Emphasis is on further study of items reported within major financial statements and development of the ability to evaluate managerial accounting information in problem-solving and decision making.
Prerequisite: BUS 240 Accounting I
Credits: 3
Description: In this course, the principal macroeconomic measurements of national production; unemployment and inflation will be introduced. Theories of how these measures interact and how they are influenced by activity in households, businesses, the federal government, and the Federal Reserve System, as well as the impact of international trade, will also be studied.
Credits: 3
Description: In this course, the principal microeconomic market model of supply and demand will be studied. Additional topics introduced to add to our understanding of the basic model will include resource allocation concepts, production and cost theory, consumer theory, and market structure conditions.

Business core courses (27 credits)

Credits: 3
Description: Develops the management art and science of planning, organizing, actuating, and controlling through people to make ideas materialize within economic constraints of a business enterprise. Develops ability to construct policy, to make scientifically sound decisions within that policy, and to establish ethical procedures to insure organized productive effort to intended objectives. Develops a management attitude, outlook, and ability.
Credits: 3
Description: Survey of the problems and opportunities involved in conducting business operations across national boundaries. Analysis of the concepts, tools, institutions, and environmental factors controlling international flows of money, personnel, information, goods, and services.
Credits: 3
Description: This course facilitates students in conquering the essential concepts of product, price, promotion, distribution, segmentation, ethics, and social responsibility, while addressing the evolving digital and social media influences. The fundamentals will be stressed allowing for useful decision processes by managers while encouraging the development of the marketing specialist as one of the key decision makers in a firm. Marketing is critical to implementing strategy, gaining competitive advantages, and ensuring positive organizational results.
Credits: 3
Description: A study of the financial function within a business enterprise. Areas addressed include financial analysis, working capital management, capital budgeting, sources and forms of long-term financing, financial structure, and cost of capital.
Prerequisites: BUS 226 Business Statistics, and BUS 241 Accounting II or BUS 142 Survey of Accounting
Credits: 3
Description: Successfully managing operations is vital to the long-term viability of every type of organization. This course provides a broad overview of issues in operations and supply chain management emphasizing a strategic orientation toward design and improvement issues. Specific topics include competitiveness; operations strategy; quality management; statistical process control; design of products, services, processes, and facilities; forecasting; supply chain management; logistics; project management; inventory management; lean production; and scheduling.
Credits: 3
Description: This course will examine theoretical structures that shape or influence Western thought and review specific professional codes of ethics relevant to business majors. Students will learn a decision-making framework for examining and articulating well-reasoned positions on ethical issues in business.
Credits: 3
Description: This course focuses on public, administrative, and regulatory law, and the relationship of business to the legal structure. Topics include employee and consumer protection, environmental regulation, labor law, monopolies, price-fixing, and the regulation of domestic and international trade.
Credits: 3
Description: Involves analysis of cases in which knowledge from basic courses in marketing, accounting, finance, management, and economics is integrated and applied. Demonstrated interrelationship between the functions of business, complexities of business problems, and strategic management models are addressed.
Prerequisites: BUS 270 Principles of Marketing, BUS 322 Managerial Finance, BUS 352 Operations and Supply Chain Management, or instructor approval; and completion of 105 semester credit hours
Credits: 0
Description: This course requires students to demonstrate or report their level of achievement of the student learning objectives developed for the Business Administration major foundation, core, and concentration courses. Various assessment measures such as surveys, comprehensive exams, and capstone projects will be used to gather student data. Completion of this course is a graduation requirement. Graded S/N.
Prerequisite: Completion of 100 semester credit hours
Credits: 3
Description: Emphasis is on providing breadth of knowledge in the organizational concepts and considerations surrounding the use of information systems technologies such as computer systems and communications systems. Topics include role of information systems in managerial functions, general systems theory, design and implementation of Management Information Systems (MIS), decision support systems, expert systems, and artificial intelligence.

Economics concentration courses (21 credit hours)

Credits: 3
Description: The application of economic concepts to decision-making problems faced by managers in private or public sector organizations. The strategic nature of pricing and output decisions is explored in the context of product demand, production and cost, market structure conditions, and public policy.
Prerequisite: ECO 203 Principles of Microeconomics
Credits: 3
Description: A study of the historical evolution of the United States money and financial institutions, their current status, regulation, and its impact on the whole economy. Topics include regulatory functions of the Central Bank and their relationships to sectoral, regional and aggregate output, price level and employment, an introduction to monetary theory and policies.
Prerequisite: ECO 202 Principles of Macroeconomics
Credits: 3
Description: Evaluation of factors that affect demand and supply for food markets, price behavior, structure of markets, and marketing channels within the agriculture industry. Economic implications of public policies on agriculture markets are explore.
Prerequisite: 3 hours of economics or permission from the instructor
Credits: 3
Description: Economic application of natural resource markets, impacts of resource use as an input, pricing of renewable and non-renewable resource, and an exploration of policy implications on natural resource markets. Specific markets discussed may include energy, water, forestry, and fisheries.
Prerequisite: 3 hours of economics or permission from the instructor
Credits: 3
Description: Applies statistical analysis to data typically generated in business and economic settings. The classical regression model is the focal point of the course. Extensions of the model are considered in situations where the basic model is not appropriate. Topics may include serial correlation, categorical variables, cross section data, and simultaneous equations.
Prerequisites: ECO 305 Economics for Managers, ECO 310 Money and Banking, and BUS 226 Business Statistics
Credits: 3
Description: A study of the principles and theories of international trade, finance, foreign investment, barriers to trade, and international economic cooperation. This course provides the necessary tools to interpret, evaluate, and analyze the changing international economy.
Prerequisite: 3 hours of economics
Choose one of the following courses:
- BUS 327 Principles of Real Estate (3) – A study of the character of land, real estate markets, ownership, interests, legal instruments, contracts, closing transfers, financing, brokerage, and management. Prerequisite: sophomore standing
- BUS 366 Management Science (3) – Application of quantitative and analytical approaches to management problems within a theoretical framework and behavioral background developed. Prerequisite: BUS 226 Business Statistics
- BUS 424 Investments (3) – Topics include types of securities, security prices and markets, economics of personal selection of securities, and outlook for specific industries. Prerequisites: BUS 322 Managerial Finance
- BUS 475 Consumer Purchasing and Motivation (3) – Understanding a customer's needs, wants, trips, and triggers to buy will set apart the successful marketing professional. Students will expand upon their knowledge of marketing with social psychology and marketing research in identifying market segments and writing psychographic profiles to build effective customer relationships in a competitive business environment. Analyzing target market use of social media is a valuable source of information about the consumer. Attention is placed on recognizing market influences to help shape consumer purchasing preferences in successfully reaching the organization's marketing objectives. Prerequisite: BUS 270 Principles of Marketing
- ECO 320 Labor Economics (3) – A study of the labor market focusing on demand for labor, supply of labor, wage determination and occupational wage differential, investment in human capital, discrimination and labor market outcomes, collective bargaining, industrial relations, labor laws, employment, unemployment, and related public policy issues. Prerequisite: ECO 203 Principles of Microeconomics
- ECO 444 Topics in Economics (3) – Current or special issues in economics will be examined. The course offers students the opportunity to discuss relevant issues facing society. This course may be repeated, by advisement, with different topics.
- GEO 315 World Economic Geography (3) – A study of resource use, locational choices, and regional specialization in the global economy. Special emphasis is given to the factors involving uneven patterns of social and economic development and the impact of globalization at various scales.

Popular pairings

Many students at Wayne State will add a second major or a minor to complement their program of study or to focus their studies on a specific topic. Students who recently majored in Economics at Wayne State also paired this major with one or more of the following programs:

Accounting (major)
Agribusiness (major)
Finance (major)
Management (major)
International Business Studies (major)
Sport Management (major or minor)

View all majors and minors

Related programs

Students interested in the Economics program may also be interested in:

Accounting (B.A. or B.S.)
Finance (B.A. or B.S.)
Professional Accountancy (B.A. or B.S.)

I chose to major in business because I had always loved dealing with money as a child and had a dream to work in a bank someday. Wayne State is helping me prepare for my future by doing real-life situations in class that you would see in the workplace and teaching me how to be a great future employee for a company. I have also really enjoyed getting to know my professors at the college. They strive to help me to achieve my goals, and they have helped me immensely in my hunt for a job and connections that could potentially lead to a job.

Lauren Hahne

Hartington, Nebraska

Agribusiness, Economics, Finance

Lauren Hahne

Hartington, Nebraska

Agribusiness, Economics, Finance

Meet the professors

Business and Economics Department faculty

Henry Akaeze, Ph.D.

Assistant Professor

Mwata Chisha, Ph.D.

Assistant Professor

Laura Dendinger, J.D.

Professor

Joseph Faello, Ph.D.

Assistant Professor

Trisha Kolterman, Ph.D.

Associate Professor

Michelle Laughlin, Ed.D.

Assistant Professor

Kelly Legler, MBA

Instructor

Pat Lutt, Ph.D.

Professor

Lindsay McLaughlin, Ed.D.

Assistant Professor

Jeryl Nelson, Ph.D.

Professor

Charles Parker, Ph.D.

Professor

Student clubs for business and economics majors

Collegiate Entrepreneurs' Organization (CEO) - Develop an entrepreneurial mindset through networking opportunities
Delta Sigma Pi - A coed professional organization for business, computing, sport management, fashion merchandising, and industrial management majors
FBLA Collegiate - A collegiate division of FBLA and professional organization for students in business and related majors
Pi Gamma Mu - An honor society that recognizes excellence in the social and behavioral sciences
Sigma Beta Delta - International honor society for business