With IWU's Bachelor of Science with a major in Economics program, you will study how people, organizations, institutions, and governments make choices. An understanding of economics is essential to an understanding of human behavior. You will gain a comprehensive knowledge of how the world works-touching on aspects of all the behavioral sciences. Jesus spoke more about the role of economics in people's lives than any other subject. And there are few career fields in which economics does not play an essential role. Businesses, churches, non-profit organizations, financial institutions, and government organizations all need decision makers or advisers who have a solid knowledge of economics.

An Economics degree will open numerous and diverse career opportunities, including financial consulting, economic research, forecasting, economic and business analysis, management, and university instruction. You will be provided with a fundamental understanding of economic principles and concepts, including a basic history of the discipline and exposure to both orthodox and heterodox views of economics. Our faculty members encourage students to go beyond statistical analyses to a profound understanding of the nature and operation of the market which preserves individual liberty and produces a pricing system that facilitates exchange, allowing people to engage in mutual service and to discover the most efficient and cost-effective means to reach their goals.

If you sense a calling to bring a Christian worldview to the economic decisions that will shape the future of our world, then you should consider majoring in Economics at Indiana Wesleyan University.

Students may also choose to minor in Economics as a supplement to another IWU major.

Departmental Mission Statement

The mission of the Economics Department at Indiana Wesleyan University is to encourage student curiosity about social coordination and cooperation, articulate how market processes serve humankind by providing a framework for social cooperation, call students to appreciate and defend market-based economic systems, and ultimately prepare students to change the world for Christ by advancing economic literacy.

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One of the best ways to discover a degree program is to check out the course listings. By simply clicking on the course titles below, you can get a preview of the classes you will attend as a student at Indiana Wesleyan University.

A major in Economics includes 30 credit hours of economics and a cognate area of 10 credit hours which may be additional courses in Economics or a grouping directed in any one of the following areas: Accounting, Business Administration, Communications, Computer Information Systems, Criminal Justice, English, Finance, History, Management, Marketing, Mathematics, Music, Political Science, Psychology, Social Work, Sociology, or as directed by the department.

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* Students choose between either ACC-202, MAT-112, or the equivalent, and also choose 12 credit hours of Economics electives. Ten credit hours of electives/overlap from second major also required.
** Students choose between either ACC-202, MAT-112, or the equivalent, and also choose 12 credit hours of Economics electives.
*** ECO-322, ECO-498, and ECO-499 are required for students taking Economics as their first major.


Dr. Tom Lehman is Professor of Economics at Indiana Wesleyan University. With six years of experience in the insurance, banking, and financial services industries, Dr. Lehman's core areas of teaching, research, and publication include: principles of microeconomics and macroeconomics, public policy and administration, public finance and budgeting, urban economics and government, urban housing markets, urban economic growth, inequality, Austrian economics, and statistics and social science research methods.

Professor Ivan Pongracic was born in Zagreb, Croatia, and served 14 years in the governmental auditing agency, auditing governmental enterprises, companies, government funds, banks, and community budgets, including four years auditing the state budget of Croatia.

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Tom Lehman; MA, PhD Professor; Economics View Profile
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