Economics Course Descriptions

ECON - 101. Principles of Microeconomics (3)

Introduction to price theory, stressing market structures, distribution, and the organization of economic systems.Offered expecially for students in the McLaren School of Business. Offered Fall and Spring.

ECON - 102. Principles of Macroeconomics (3)

Introduction to aggregate economics, stressing the forces that shape overall economic activity and determine economic growth, employment, interest rates, and inflation. Offered especially for students in the McLaren School of Business. Offered Fall and Spring.

ECON - 111. Principles of Microeconomics (4)

Introduction to price theory, stressing market structures, distribution, and the organization of economic systems. Offered Fall and Spring.

ECON - 112. Principles of Macroeconomics (4)

Introduction to aggregate economics, stressing the forces that shape overall economic activity and determine economic growth, employment, interest rates, and inflation. Offered Fall and Spring.

ECON - 120. Economic Methods (4)

Prerequisite: MATH - 101. An introduction to the statistical tools and mathematical techniques that economists use to analyze the world. The course leads students through the tools needed for study of economics at an intermediate and advanced level. Offered every Fall.

ECON - 210. Economy of Contemporary Issues (4)

This course is proposed as an interesting introductory course to basic ideas in economics. The course takes a contemporary issues approach, learning about economics through the study of everyday contemporary issues such as world trade, migration, unemployment, inflation, and world poverty, and is intended for students not majoring in economics or business.

ECON - 230. Environmental Economics (4)

Significant changes to the world environment have been brought on by increasing levels of economic industrialization. This course studies both broad trends at the macro level in the quality of air, water, and land resources as well as the underlying causes of these changes at the micro level. Students will learn to apply basic economic theory to better understand phenomena such as the "tragedy of the commons," environmental pollution and resource degradation, and how we can become better stewards of creation.

ECON - 280. The Global Economy (4)

This course offers an introduction to the world economy, international trade, and economic development, designed especially for non-economics majors. Foundations of international markets and trade, comparative advantage, foreign investment, international inequality, and the study of international institutions such as the IMF, the World Bank, and the World Trade Organization will form key components of the class.

ECON - 282. Economies of Modern Europe (4)

This course will analyze and describe the growth and development of the modern European economies in the context of European economic integration since World War II. Topics include the Marshall Plan, the European Union, the establishment of a single European currency, the European community and the prospects for future economic and political integration.

ECON - 283. Economies of Southeast and East Asia (4)

This course surveys the economic development/economic growth process, political system, and the current economic issues of the East Asian and Southeast Asian countries including China, Hong Kong, Japan, Singapore, South Korea, North Korea, Taiwan, Malaysia, Indonesia, the Philippines,Thailand, Vietnam, and India. Students will emerge from the course with a solid understanding of Asian culture, society, and economics.

ECON - 285. Economies of Modern Africa (4)

This course examines the making of economic societies and specifically the evolution of the African (Third World) economies from pre-capitalist traditional societies through the colonial period to the present status of economic dependency. The class will strive to make students conscious of the interaction between Africa and the developed world, and the implications of these interactions, in historical perspective. Offered Fall or Spring as demand warrants.

ECON - 286. Economies of Latin America (4)

Prerequisites: ECONUG - 102, ECONUG - 112. Economies of Latin America introduces students to the macroeconomics of the Latin American countries and their economic history from colonial times to the present. Students will acquire a basic understanding of the economic development of the different Latin American countries, and an understanding if the economic relationships between Latin America and the rest of the world. Special attention will be given to recent efforts to establish regional integration and macroeconomic stability.

ECON - 300. U.S. Economic History (4)

Prerequisites: ECONUG - 102, ECONUG - 112. The growth and development of the American economy from colonial times to the present. The course emphasizes America's role as the first frontier economy to industrialize and its role as the only pre-WWI industrial economy with a frontier, as well as the growth of the giant industrial enterprise and wealth-accumulation over the last hundred years.

ECON - 305. European Economic History: Ancient World to Industrial Revolution (4)

Prerequisites: ECONUG - 102 ECONUG - 112. Covers the development of European civilization from antiquity up through the beginnings of the industrial revolution. Economics analysis is used to understand the forces affecting the development of European societies and the evolution of their social and economic relations. Offered as demand dictates.

ECON - 306. Economies of Modern Europe (4)

Prerequisites: ECONUG - 102 ECONUG - 112 ,. European economic, political, and social developments from the Industrial Revolution to modern times. Topics include Europe's key place in the development of the modern world economy, European industrial stagnation between the World Wars, Europe's economic miracle after W.W.II, and the recent movement towards European unification. Offered as demand dictates.

ECON - 310. Foundations of Economic Thought (4)

Prerequisites: ECONUG - 101 ECONUG - 111 , or ECONUG - 102 ECONUG - 112. A course in the history of economic thought, exploring the intellectual foundations of the analysis of economic problems and policies. Offered as demand dictates.

ECON - 311. Intermediate Microeconomics (4)

Prerequisites: ECONUG - 101 ECONUG - 111. Course examines the choices and decisions of consumers and firms in the context of full information, uncertainty, and imperfect information. Offered every Fall.

ECON - 312. Intermediate Macroeconomics (4)

Prerequisites: ECONUG - 102 ECONUG - 112. Analysis of national income determination; function of money and commercial banking; methods and objectives of fiscal policy. Offered every Spring.

ECON - 318. Game Theory (4)

Prerequisites: ECONUG - 101, ECONUG - 111 or permission. An introduction to the basic concepts of game theory with emphasis on strategic interaction in the real world. Strategic interaction affects every facet of life; from businesses jockeying for dominance in a marketplace, to politicians vying for re-election, to nations in international conflict. The class studies solution concepts for an array of games from different fields of study. Offered every Spring.

ECON - 320. Econometrics (4)

Prerequisite: ECONUG - 120. This course prepares the student in the use of econometric techniques, such as linear regression, hypothesis testing, and model-building. The focus is on the application of econometrics to applied problems in finance, macroeconomics, development, and international. Offered every Spring.

ECON - 321. Special Topics in Econometrics (2-4)

Prerequisite: ECONUG - 320. The focus is on the application of econometrics to specific applied problems in finance, development, or international economics. Topics have included the econometrics of financial markets, risk models for finance, and simultaneous equations in development. Offered every Fall.

ECON - 350. Money, Banking, and Financial Institutions (4)

Prerequisites: ECONUG - 101 ECONUG - 111 and ECONUG - 102 ECONUG - 112. This course investigates the changing role of financial institutions, financial markets, and monetary policy in a modern economy. The focus is on how monetary policy influences macroeconomic variables and financial institutions and markets. Offered every Fall.

ECON - 370. International Economics (4)

Prerequisites: ECONUG - 101 ECONUG - 111 and ECONUG - 102 ECONUG - 112. Introduction to the theory and policy of international trade and international economic relations. Course also covers areas of migration, international corporations, and investment. Offered every Fall.

ECON - 372. Economic Development (4)

Prerequisites: ECONUG - 101 ECONUG - 111 and ECONUG - 102 ECONUG - 112. Processes of economic change and industrialization in developing nations and comparative analysis of underlying social factors; interactions between traditional and modern sectors, and international relationships. Offered every Fall.

ECON - 390. Experimental Courses (2 or 4)

Courses not presently in the catalog which the department offers on an experimental basis.

ECON - 396. Internship (1-4)

Supervised field studies in economics. Written proposals must be approved by the department chair.

ECON - 398. Directed Reading (1-4)

The written permission of the instructor and the Chair of Economics is required.

ECON - 415. Mathematics for Economists (4)

Prerequisites: ECONUG - 120 or ECONUG - 311. Applications of linear algebra and calculus to equilibrium, dynamic, and optimizing models of economic theory. Offered every Fall.

ECON - 416. Special Topics in Mathematics for Economists (2)

Prerequisite: ECONUG - 415. Topics may include: Applications of differential equations, phase diagrams analysis, stability analysis, optimal control theory, calculus of variations, applications in probability and statistics to financial economics and the economics of uncertainty, differential games, and dynamic programming in economics. Offered as demand merits.

ECON - 424. Internet Data Sources (4)

Prerequisites: ECONUG - 311 or ECONUG - 312. Understanding how to find and manipulate economic data is an important tool for undergraduate Economics students who are about to enter the job market. Students in this course will learn how to obtain economic and financial data on the Internet for the analysis of a wide variety of economic issues. This course will teach students how to find and utilize data measuring GDP, inflation, and unemployment statistics.

ECON - 451. Monetary Economics (4)

Prerequisites: ECONUG - 312, ECONUG - 350. This course concentrates on the role played by money in influencing macroeconomic variables such as output, interest rates, and inflation. It also investigates the ways in which government can control economic activity through its regulation of the banking system and the supply of money.

ECON - 455. Options and Futures (4)

Prerequisites: ECONUG - 120 and ECONUG - 350. Options, futures and other derivative contracts are widely used to manage risk by businesses and financial institutions. This course provides students with a solid understanding of: i) the economic functions of futures, forwards and options; ii) the operation of futures and options markets; iii) the pricing of futures, options and other derivatives; and iv) basic strategies in trading options. Offered every Spring.

ECON - 460. Industrial Organization (4)

Prerequisite: ECONUG - 311. Survey of market structure, conduct, and performance of industry and the economics of regulation and anti-trust laws. Offered as demand merits.

ECON - 465. Law and Economics (4)

Prerequisite: ECONUG - 311. Law and Economics offers undergraduates an understanding of how economic theory provides a framework to analyze legal systems. It will also teach students the fundamental importance of the law in fostering economic growth and development. The economic foundations of both domestic and international institutions will be studied extensively.

ECON - 471. International Finance (4)

Prerequisite: ECONUG - 312. The world monetary system, international monetary policy, foreign exchange markets and their uses in the fields of international investments and finance. Offered every Spring.

ECON - 473. Development Microeconomics (4)

Prerequisite: ECONUG - 311. Study of microeconomic behavior in developing countries, especially focusing on development traps, causes and consequences of poverty, economics of corruption, credit and labor issues, and women in development. Offered every Spring.

ECON - 474. Development Macroeconomics (4)

Prerequisite: ECONUG - 312. How can countries achieve sustained growth and significantly reduce poverty? This course examines the central question of long-term growth and growth management policies. It uses an integrated approach combining theoretical material with hands-on real world data-based econometric case studies. Offered every Fall.

ECON - 475. Finance and Investment in Emerging Economies (4)

Prerequisites: ECONUG - 311 and ECONUG - 312. This course is intended for advanced undergraduates who have completed intermediate levels of micro and macroeconomics. The class will analyze the economics of foreign investment in emerging economies such as the newly industrializing economies of Asia and Latin America. Emphasis

will be placed on understanding transnational capital flows, foreign direct investment, privatization of industry, the role of exchange rate and currency risk, and models of foreign portfolio investment.

ECON - 476. Natural Resource Economics and Development Policy (4)

Prerequisite: ECONUG - 311. Natural resources and the environment and their role in economic development are hotly debated issues. For some countries the abundance of natural resources has been a curse, for others it has been a boon. This course will examine the issues surrounding changes in the environment in developing nations during the process of industrialization, trade-offs between economic growth and resource depletion, and sustainable development.

ECON - 477. International Political Economy (4)

Prerequisite: ECONUG - 312. Study of the economic, political and technological forces that have shaped the post-war international economic system. Topics include the role of multilateral financial institutions, economic regionalism, the North-South gap, relationships beteen states and markets, economic globalization and its implications, and challenges to sustainable development.

ECON - 478. Population and Labor Economics (4)

Prerequisites: ECONUG - 101 or ECONUG - 111 or permission of instructor. The uses of economic analysis to understand the problems of population growth and population policy, household formation, immigration, labor market discrimination, and income inequality and poverty.