The Economics department offers courses for both program and liberal arts transfer students. If you plan to transfer to a four-year institution, you should verify the transferability of Madison College courses using the Transfer Information System (TIS). If you are unsure about how specific courses transfer to a given institution, it is strongly recommended you contact the school of interest to verify transferability.
Interested in Majoring or Minoring in Economics at a Four-Year College or University? There are many career paths available to economics majors, including work in:
Some economics career paths involve considerable mathematical and computational skills, while others require fewer of these skills and more social-scientific policy skills. If you are interested in the more mathematically rigorous applications of economics, you should pursue the Associate in Science (AS) Pre-Major Economics Pathway(PDF 22.58KB) during your time at Madison College. If you are more interested in the conceptual and policy aspects of economics, you might want to pursue the Associate in Arts (AA) Pre-Major Economics Pathway(PDF 22.8KB) we offer. The pathways suggest a sequence of classes that will generally satisfy the first two years of general education requirements for Bachelor of Science (BS) and Bachelor of Arts (BA) economics degrees at four-year colleges and universities.
Students applying to Madison Area Technical College as a Liberal Arts Transfer student use the program code 20-800-1S.
Below is a brief a description of the economics courses currently offered at Madison College.
Economics (Catalog # 10-809-195): This course introduces basic economic principles to help you better understand the world in which you live. In addition to learning how the U.S. economy works and how it sometimes fails, you will develop a deeper understanding of issues such as why college tuition costs are rising; how wages for workers in your chosen field are determined; whether the minimum wage should be increased; why some people argue for, and others against, an expansion of international trade; how to maximize profits if you someday start your own business; and how federal government and banking system policies affect your life and the overall economy. Prerequisite: Compass reading score of 51 and higher or B/C or better in Academic Reading 4, 74-858-742. (3 credits)
Macro Economics (Catalog # 20-809-211): This course provides an introduction to basic economic principles with applications to current economic problems affecting the overall performance of a nation's economy. The course begins with an analysis of the role of markets and prices in an economy. Topics include the causes and consequences of unemployment, inflation, and economic growth; the role of money and banking in the economy; the role of government taxing and spending policies to correct market failure and stabilize the economy; the implications of budget deficits and the national debt; and the implications of an increasingly global economy. This course is designed to meet the need for college transfer credit. Prerequisites: Compass reading score of 65 or higher or a B/C or better in Academic Reading 6 -AND- Pre-algebra score of 30 or higher; or B/C or better in Basic Algebra, 74-854-793, or higher level math courses with a minimum grade of C. (3 credits)
Micro Economics (Catalog # 20-809-212): This course provides an introduction to basic economic principles with applications to current economic problems affecting individuals and businesses. The course begins with an in-depth analysis of the role of markets and prices in an economy, with emphasis on when markets work well and when they fail to yield the best outcome for the society. Topics include how individuals choose to best use their limited resources; the causes and consequences of poverty and the distribution of income and wealth; the behavior of businesses in setting prices and production levels; problems of monopoly power; wage determination in labor markets; and the economics of environmental challenges. This course is designed to meet the need for college transfer credit. Prerequisites: Compass reading score of 65 or higher or a B/C or better in Academic Reading 6 -AND- Pre-algebra score of 30 or higher; or B/C or better in Basic Algebra, 74-854-793, or higher level math courses with a minimum grade of C. (3 credits)
Introduction to International Economics (Catalog # 20-809-214): Introduction to International Economics examines issues in international trade and international finance and the interconnectedness of the world’s economies. Topics include the economic arguments for trade, current trade policies and practices, the effects of trade restrictions, free trade and fair trade, foreign exchange markets, and the role of international institutions such as the World Bank, the International Monetary Fund and the World Trade Organization. Current issues such as currency crises and free trade agreements will also be discussed. Prerequisites: Macro Economics, 20-809-211, OR Micro Economics, 20-809-212, OR Economics, 10-809-195, with a grade of B or better. (3 credits) This course is typically offered in the spring term only.
Environmental Economics (Catalog # 20-809-228): This course prepares the student to analyze the interaction between economic activity and the earth's physical environment. Emphasis is placed on the impacts surrounding natural resource markets, including energy and minerals, agriculture, forests, fisheries and tourism. Economic concepts include social welfare analysis, externality costs, market failure, the time value of money, economic valuation of non-market goods, definitions of economic efficiency, risk analysis and definitions of "growth". Environmental impacts may include toxicity to ecosystems, species extinction, soil erosion, fresh water quality and availability, degradation of the marine environment, air pollution, ozone depletion and global warming. Political issues include, but are not limited to the trading of pollution credits, the debate over nuclear power, genetic engineering issues, land use planning, environmental racism, international dynamics and inter-generational equity. Prerequisite: Micro Economics, 20-809-212, OR Macro Economics, 20-809-211. (3 credits) This course is typically offered in the fall term only.
Energy and Society (Catalog # 20-809-269): The American experience is better understood within the context of the history of energy consumption and production. Our nation's future is inextricably connected to our resolution of the challenges we face with respect to energy. Analyses and solutions require an interdisciplinary approach. The course "Energy and Society" considers the technical, economic, political, environmental, ethical and social contexts of the topic of energy. Prerequisites: none. (3 credits) This course is typically offered in the spring term only.
Links to Economics Department Webpages at Nearby Four-Year Colleges and Universities:
If you’re interesting in transferring to pursue at Economics undergraduate degree at area schools, please check out the links below for more information.