Penn State University Libraries - Economics

Collection Development Statement
Economics

Principal Selector
Kevin Harwell
Business Librarian
309 Paterno

Secondary Selectors

Gary White
Head, Schreyer Business Library
309 Paterno Library

Daniel Hickey
Business/IST Librarian
309 Paterno Library

Diane Zabel
Benzak Business Librarian
309 Paterno Library

Fund

ECON

General Statement

Economics is a social science that studies the production, distribution and consumption of goods and services. More specifically, it examines the choices people make when available resources are insufficient to satisfy all wants and needs.

Economics students study microeconomics, macroeconomics, and econometrics, as well as a number of topics relating to economic theory, applied economics, strategy and analysis. The most popular electives at Penn State include: money and banking; labor economics; advanced international trade theory and policy; and, growth and development.

Graduates pursue careers in business, finance, law, government, medicine, non-profit organizations, international relations and other settings. They also find work as consultants, teachers, professors and researchers.

Program Information

The economics collection provides support for all undergraduate, graduate, and doctoral programs offered at the University. Many disciplines of research and instruction at Penn State rely on economics information and use this collection. Numerous majors, including all majors in the Smeal College of Business, list ECON courses as required courses. Other majors, representing degree programs from every Penn State College, list ECON courses as additional or supporting courses. The collection also supports the general and popular interests of the students and the public at large.

Undergraduate enrollments in economics courses include approximately 500 economics majors, and more than 13,000 students in principles classes (ECON 002 & 004, 2007-08 Fall and Spring enrollments). The Department of Economics offers B.S. and B.A. degree programs in Economics. A departmental Honors Program provides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. The Smeal College of Business is currently phasing out a B.S. degree program in economics. The College of Liberal Arts offers a minor in economics to students enrolled in any college.

The Department of Economics offers M.A. and Ph.D. degrees. Sixty-seven students are currently enrolled as graduate students in these degree programs. U.S. News & World Report ranks Penn State’s graduate program in economics at #27 in the nation in 2009.

The Department of Economics consists of about 29 tenured or tenure-track faculty and nine lecturers. Penn State economics faculty are prolific researchers. Most have averaged about two publications per year since receiving their Ph.D. degrees. One professor has averaged five publications per year over a period of twenty-five years. Twenty-five other faculty teach economics courses at Commonwealth Campus Locations.

Areas of Focus/Strengths

Collection development in economics has focused on developing and maintaining a solid collection of scholarly materials in macroeconomics, microeconomics, econometrics and applied economics. We also have a strong collection of classic works that are important reference material for faculty and graduate researchers.

Data and statistics from the federal government, international governmental and non-governmental organizations, business information providers and other sources provide good support for data analysis conducted by economics researchers.

Description of Materials Covered

Journals and working papers are the fundamental media for disseminating research findings in economics. Therefore, the business library maintains a solid collection of these materials online and, when not otherwise available, in print. Monographs are also important, especially topical compendiums for established economic theories and applications, and works of well researched original thought on timely topics.

Overlap with Other Collections

Research in economics is interdisciplinary. Among many disciplines that interact with economics are the following:
• Agribusiness & Agricultural economics
• Accounting
• Finance
• Government
• History
• International affairs
• Labor studies
• Mineral economics
• Political science
• Statistics

The selector works closely with selectors in who collect in these areas to accomplish collection objectives.

Subject & Language Modifiers

Economics collections focus primarily on text-dependent, English-language materials. Requests for foreign language materials and items in formats other than online or printed text and numerical information may be filled at the discretion of the selector. Subjects not directly covered by economics collection development include agricultural economics, mineral economics, and home economics.

Exclusions

The business library does not systematically acquire economics textbooks, and popular consumer-oriented works. Since the research and curricula of the Department of Economics focuses on current and recent trends, events and scholarship, materials that focus on historical events and trends will not be acquired on a routine basis.

Future Directions

Recent and current trends show that publishers and information users, including Penn State faculty and students, prefer online resources to print for most materials, including older materials. This trend is likely to continue. A recent study of sources used for dissertation research showed that dependency on journal literature, while always strong, has been increasing.

May 4, 2009