Economics & Technology
The major in economics and technology offers students interested in Economics the unique opportunity to combine that interest with a solid grounding in a subject of science, engineering or technology of their choosing. Students take Economics courses similar to those offered at most liberal arts colleges, but unlike most liberal arts students, at WPI economics and technology majors supplement economics with a technical concentration, perhaps in biotechnology or civil engineering. As a result, they graduate with a blending of the modeling and analytical skills of the economist and the technical expertise of the scientist or engineer.
Economics has traditionally been viewed as an excellent preparation for careers in law, public service, and general management in business and government. Students who are beginning careers directly out of college will find that the study of technology provides an invaluable supplement to their training in economics in many occupations. Graduates of the program in economics and technology are desired by firms looking for managers possessing the technological knowledge of the engineer and the decision making perspectives and modeling skills of the economist. Examples of such firms include:
The economics and technology major also offers ideal preparation for graduate education, particularly the MBA. The study of the functional areas of management, and the development of specific managerial skills, consumes so much of an MBA student's time that he or she rarely has time for study in other important areas such as economics. However, a thorough understanding of economics is critical for all managers in private and public organizations. Moreover, the ability to understand a firm's technical production processes and products is also important in many areas of ,anagement. Consequently, the combination of a technical undergraduate degree and an MBA is regarded as highly desirable in management and is an educational track advocated by many. Clearly, both halves of the economics and technology major complement the preparation for the business world provided by graduate programs in business. The major provides training in areas that are important for success in business, but are largely or wholly neglected in graduate business programs.
Students enrolled in the economics and technology program study economic theory and model building at both the micro and macro levels, as well as techniques for economic decision making and the collection and analysis of economic data.
The E & T program's technical component consists of six courses in an engineering or science discipline. The aim of the technical component is to acquaint students with the work of professionals in the technical discipline, and ensure that students are conversant with the field and familiar with its terminology and basic principles. Course sequences providing this preparation have been identified by the faculty for sixteen engineering and science disciplines, including computer science and management.
Students enrolled in the economics and technology major also have the option of significantly expanding their technical concentration or of acquiring a second area of concentration. Students choosing the latter option can select courses that lead to a second technical concentration, advanced training in economics, or even a concentration in any other discipline offered at WPI (e.g., mathematical science).
For more information, see the Undergraduate Catalog for degree requirements and/or contact Prof. Radzicki.
Maintained by webmaster@wpi.eduLast modified: September 29, 2006 14:31:51