YPSILANTI – A new academic program at Eastern Michigan University in Quantitative Economics will teach undergraduate students complex data analysis skills that will prepare them for high-demand careers.
The EMU Board of Regents approved the program at its regular meeting on Friday, Oct. 25.
The Bachelor of Science in Quantitative Economics will combine economic theory with a foundation in mathematics and statistics. The program will prepare students to pursue career opportunities in business, government and the non-profit sector. More quantitatively oriented than the BA in Economics, the program is designed to prepare students for jobs requiring data analysis skills or ready them for graduate programs in economics, business or other related fields.
Today’s economy seeks quantitative skills
“This program is an important addition to Eastern’s excellent academic programs and aligns with our mission to prepare students for high-demand and fulfilling careers,” said Rhonda Longworth, provost and executive vice president for academic and student affairs. “This program will prepare students for an economy that’s becoming increasingly focused on STEM-oriented skills. It brings a data-driven, analytical approach to the study of market forces and their impact on economic factors.”
Rationale for the new program includes:
• The discipline of economics is become increasingly more empirical, and econometrics has become more popular in undergraduate education due to employer demand and requirements for graduate school preparation.
• Economics is being reclassified as a STEM major as a way of both satisfying increasing demand for quantitative skills and providing more favorable post-graduation opportunities for international students.
• Government and corporations have a strong demand for data, and thus need graduates with a skill set allows them to extract information and implement operational conclusions from such data.
The program will begin the next academic year.
About Eastern Michigan University
Founded in 1849, Eastern is the second oldest public university in Michigan. It currently serves nearly 18,000 students pursuing undergraduate, graduate, specialist, doctoral and certificate degrees in the arts, sciences and professions. In all, more than 300 majors, minors and concentrations are delivered through the University's Colleges of Arts and Sciences; Business; Education; Engineering and Technology; Health and Human Services; and, its graduate school. EMU is regularly recognized by national publications for its excellence, diversity, and commitment to applied education. For more information about Eastern Michigan University, visit the University's website.