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Economics
"Economics is the study of mankind in the ordinary business of life." | 
| "Economics has as its purpose firstly to acquire knowledge for its own sake, and secondly to throw light on practical issues. But though we are bound, before entering on any study, to consider carefully what are its uses, we should not plan out our work with direct reference to them." "The theory of economics is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions” | "Rates of growth of real per capita GDP are diverse, even over sustained periods. ... Is there some action a government of India can take that would lead the Indian economy to grow like Indonesia's? If so, what exactly?
The consequences for human welfare involved in questions like this are simply staggering: Once one starts to think about them, it is hard to think about anything else." |  | A Catholic University should "train truly Christian leaders in the different spheres of human activity, and in society, especially in politics, economics, science, art and philosophical reflection."
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 | Featured graduates
| José David Urquilla, '05 "I want to thank you again for your great and rigorous teaching. Please do not let it get easy. Ave Maria is in its development stage and we need good Catholics in this world which is so competitive. The teaching I received was the only thing that kept me up to the standard of the rest of the Fellows [at my Washington, D.C., internship], who all came from prestigious institutions" José now works at the US Senate and is studying for a Master's degree in International Affairs. |
|  | | John Wehrly, '07 "The semester following my graduation from Ave Maria I entered law school, on a full tuition scholarship, at the University of St. Thomas School of Law, Minneapolis, MN. I was also accepted at the University of Notre Dame Law School, with a Fellowship. While law school has been demanding, I can say without hesitation that economics at Ave Maria University was much more challenging. Being an economics major at Ave Maria prepared me extremely well for the study of law. This summer I will be either working in Washington, D.C., or as an intern with the Blackstone Fellowship, or as a research assistant to one of my law professors." |
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 | featured course - Financial Crises: Past and Present
What causes financial crises? What are the typical consequences? What measures have been implemented to prevent them or ameliorate them? This course, a look at financial crises in theory and history, will study the Crash of 1929 and the Great Depression, the East Asian Crisis of 1997, and the Great Housing Collapse of 2008.
We will read Kindleberger's Manias, Panics, and Crashes, Galbraith's The Great Crash 1929, Fed Chairman Bernanke's Essays on the Great Depression, Blustein's The Chastening, and Shiller's The Subprime Solution. Students will become very familiar with the causes and features of most major crises and in particular with current events. |
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 | | The Economics Major requires 10 courses: the standard 4-course Macroeconomics and Microeconomics sequence, plus Statistics, Catholic Social Teaching, and four electives (including a seminar). The Minor requires 6 courses. Our Principles sequence is the basis for the Institute for Business's Certificate in Business |
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 | | Economics addresses some of the most important questions of society and human behavior and is a fascinating subject of study. At the same time, it is intimately related to day-to-day life and is an indispensable guide for practical decision-making. (more...) |
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