Economics

Economics is the study of how to make optimal decisions in a scarce environment. Leadership and economics go hand-in-hand.

The West Point Economics program provides cadets with a solid understanding of core economic principles, enables them to analyze critical economic and social issues, and affords the opportunity to conduct cutting-edge quantitative research. After mastering core economic concepts, students can then tailor their studies to concentrate on public policy, finance, or mathematical economics.

The integrative experience enables cadets to apply what they have learned from both the core curriculum and their major to a directed analysis of a critical national security issue. The required course that provides this integrative experience is Advanced American Politics, Policy, and Strategy (SS480.) First, the course introduces an array of public policy “puzzles” – challenging issues that lie at the center of US national, regional, and international policy and politics and at the forefront of contemporary public debate. Second, cadets examine the constituent parts of the policymaking process with a focus on a subset of policy frameworks and the art and science of policy analysis and evaluation. Third, cadets explore a number of the policy cases introduced early-on in the course to ascertain the degree to which policy frameworks are applicable to real world policy problems. All along , students partner with classmates to develop and hone their analytical and assessment skills through group exercises and projects.

The program’s economics electives provide the students with specific knowledge in the respective areas of study and afford them the opportunity to apply the appropriate theories and principles in their analysis of complex economic and political issues. The capstone course (Economics of National Security) enables senior cadets to apply both the core curriculum concepts and economic principles they have learned in an analysis of current critical national security issues. This course provides an in-depth study of national security to include applying microeconomic analysis to defense personnel policies and weapon-system acquisition procedures, analyzing the defense budgeting process, examining how the Department of Defense manages its contracting relationships, and studying the macroeconomic impact of national security decisions.

The Economics program supports graduate study in the social sciences in general, with particular relevance to economics, operations research, engineering management, business administration, international affairs, and public policy. Cadets have the option to pursue a Senior Thesis with Honors.

Social Sciences Department

Faculty Members


Program Director

  • LTC Spencer Clouatre

Civilian Faculty

  • Dr. Susan Carter
  • Dr. Dean Dudley
  • Dr. Michael Kofoed
  • Dr. Richard Patterson
  • Dr. Alexander Smith
  • Dr. John Smith
 

Military Faculty

  • MAJ Jonathan Bate
  • MAJ Patrick Bell
  • MAJ Christopher Calway
  • CPT Aaron Feudo
  • LTC Jason Galui
  • LTC Ken Heckel
  • MAJ Thomas Menn
  • MAJ Oliver Moore
  • CPT Michael Naylor
  • MAJ Riley Post
  • CPT John Rohn
  • MAJ Jacob Sheehan
  • LTC William Skimmyhorn
  • CPT Aaron Stark
  • CPT Ryan Swisher
  • MAJ Ben Summers
  • CPT Duncan Walker
  • MAJ Isaac Wisniewski
  • LTC Carl Wojtaszek

Economics Counselor

  • MAJ Jonathan Bate
 

Courses

  • SS201 - Principles of Economics
  • SS251 - Advanced Principles of Economics
  • SS364 - Game Theory
  • SS368 - Econometrics I
  • SS380 - Manpower and Labor Economics
  • SS382 - Microeconomics
  • SS385 - History of Economics
  • SS387 - Public Finance
  • SS388 - Macroeconomics
  • SS394 - Financial Statement Analysis
  • SS 462 -Economics of Stabilization and Growth
  • SS469 - Econometrics II
  • SS470 - Money and Banking
  • SS477 - Economics of National Security
  • SS484 - International Economics
  • SS494 - Principles of Finance
  • SS498 - Senior Thesis in Economics