Economics Courses
ECO 203 Macroeconomics and Literacy (3)
The successful operation of modern economies depends on the participation of economically literate citizens. An economically literate citizen should be able to identify problems, gather relevant information, weigh costs and benefits, analyze incentives, and make choices. Students successfully completing this course will be able to comprehend and use basic economic concepts, interpret major macroeconomic statistics, explain how both monetary and fiscal policy can be used to stabilize the economy, and discuss macroeconomic issues.
ECO 204 Microeconomics and Business (3)
An introduction to basic concepts governing the operation of the microeconomy, with specific emphasis placed on understanding microeconomic theory, policy, and issues as they relate to business decision-making. Students successfully completing this course will be able to comprehend the workings of the supply and demand model from both a graphical and mathematical perspective, explain the role that elasticity plays in the supply and demand model and know how to calculate and interpret various elasticities, understand utility maximization and the theory of consumer behavior, explain how cost structures differ in the short run and the long run, analyze various market structures in terms of their economic performance, and understand the workings of the various factor markets. Prerequisite: ECO 203.
ECO 271, 371, 471 Selected Topics (1-3) (1-3) (1-3)
An investigation of topics not offered in other courses, selected on the basis of student interest and available instruction.
ECO 290, 390, 490 Directed Study (1-3) (1-3) (1-3)
An opportunity for supervised, independent study of a particular topic based on the interest of the student, and the availability and approval of the faculty.
ECO 303 Intermediate Macroeconomics (3)
An examination of the major theories developed to explain the functioning of the macroeconomy and the determination of national income in a market oriented system. Students successfully completing this course will be able to: 1) discuss both the long run classical model and macroeconomic growth theory; 2) describe various macroeconomic measurement techniques and issues; 3) explain the short run Keynesian model; 4) discuss the difficulties inherent in macroeconomic policy-making, both monetary and fiscal, and 5) understand the role of presidential leadership in economic policymaking. Prerequisite: ECO 203. Offered alternate spring terms.
ECO 304 Intermediate Microeconomics (3)
An examination of the theory of individual consumer behavior and the theory of the firm. Students successfully completing this course will be able to: 1) use indifference curve analysis to understand utility maximization; 2) explain cost theory and use production isoquants in microeconomic analysis; 3) discuss the theory of the firm in competition, monopoly, and oligopoly; and 4) explain the functioning of resource markets. Prerequisite: ECO 204.Offered alternate fall terms.
ECO 307 Money and Banking (3)
An examination of the history of the U.S. banking system, with special emphasis on the history, purpose, and functions of the Federal Reserve System. The tools and techniques of monetary policy will also be addressed. Students completing this course will be able to: 1) understand basic monetary concepts and frameworks including the role of money and financial institutions and financial markets; 2) critically examine and analyze the business of banking and the role of government regulation of the banking industry; and 3) describe and evaluate Federal Reserve monetary policy in both a domestic and international setting. Prerequisite: ECO 203. (Cross-referenced with BUS 307.)
ECO 308 Public Finance (3)
Introduces the basic concepts used to describe and measure government decision-making as it pertains to economics. This course examines the effects of fiscal policy on resources, incomes, prices, and employment. Students successfully completing this course will be able to: 1) understand the characteristics, functions, and interactions of public and private institutions;2) explain fundamental economic theory and terminology as it relates to public finance; 3) apply economic theory to current policy problems; and 4) analyze and apply economic data to the study of a public policy problem. Prerequisite: ECO 203. (Cross-referenced with PSI 308.) Offered alternate spring terms.
ECO 309 Environmental Economics (3)
An examination of the relationship between economic analysis and the quality of the natural environment in which we live. Students successfully completing this course will be able to: 1) understand economic theory and terminology as they relate to issues of environmental quality; 2) apply economic theory, where appropriate, to various environmental problems; 3) comprehend the interactions between both the private and public sectors in the struggle to find workable solutions to environmental problems; 4) appreciate the global dimension of environmental issues; and 5) analyze and evaluate environmental policy proposals to determine feasible solutions. Prerequisite: ECO 203. Offered alternate fall terms.
ECO 327 Globalization and Transnationalism (3)
In recent decades, international affairs have been increasingly influenced by non-state actors whose actions and impact cross national boundaries. This class explores this contemporary trend toward increased global interconnectedness, examining the political, cultural, and economic effects of transnational interactions. Major debates about the global economy and international political economy will receive particular attention. Upon completion, students will demonstrate an understanding of globalization as a multifaceted phenomenon, encompassing political globalization, the globalization of
communications and culture, and economic globalization. Offered alternate spring terms. (Cross-referenced with PSI 327.)
ECO 329 Health Care Economics (3)
The U.S. health care system continues to experience problems in the financing, organization, and delivery of health care services. Costs are increasing at unsustainable rates while fewer employers are offering health insurance to their employees. While the U.S. leads the world in money spent on health
care, it ranks low on most measures of health status. This course will examine how economic analysis can be applied to health care. Students successfully completing this course will be able to: 1) understand economic theory and terminology as they relate to health care; 2) apply economic theory to health
care problems and issues; 3) comprehend the interactions between both the private and public sectors in the struggle to find workable solutions to health care problems and issues; and 4) analyze and evaluate various health care policy proposals to determine feasible solutions. Prerequisite: ECO 203. Offered
alternate spring terms.
ECO 330 Economic Development (3)
This course examines the economic development problems and policies of countries around the world, with particular focus on Africa, Asia, and Latin America. Emphasis is placed on issues such as planning for growth, income distribution, sustainability and resource use, population growth, agricultural
production, savings and capital formation, and international economic relationships. Students successfully completing this course will be able to: 1) 106 / Economics understand economic theory and terminology as they relate to the problems of economic development; 2) apply economic theory to the problems of economic development; 3) comprehend the interactions between both the private and public sectors in the struggle to find workable solutions to economic development problems; 4) understand global economic perspectives and interactions, especially among countries of the world struggling with resource allocation issues; and 5) analyze and evaluate various economic development policy proposals to determine feasible solutions. Prerequisite: ECO 203. Offered alternate spring terms.
ECO 340 Econometrics (3)
In most economics courses, common economic results are presented as theory. Econometrics allows students to test those theories by using regression analysis on economic data. In this course, students will learn basic econometric techniques and methods, apply those techniques and methods to economic
data, and interpret the numerical results. Students successfully completing this course will be able to: 1) understand simple and multiple linear regressions, 2) test economic theory through the use of econometric methods; 3) analyze economic data and forecast change; and 4) effectively communicate econometric results utilizing appropriate presentation methodology. Prerequisite: BUS 21 or SSI 217 or MTH 356. Offered alternate spring terms.
ECO 358 International Trade and Finance (3)
An examination of current theories of international trade and finance. Emphasis is placed upon understanding financial decision-making in a global setting. Students successfully completing this course will be able to: 1) demonstrate understanding and application of partial- and general- equilibrium models of international trade; 2) explain the concept of comparative advantage and its determinants; 3) evaluate the effects of international trade policies on economic welfare and relevant markets; 4) identify risks associated with doing business globally; 5) recommend financial tools that can be used to reduce risk, and 6) apply the theoretical material to critically evaluate real world issues in international trade and finance. Prerequisite: ECO 203. (Cross-referenced with BUS 358.)
ECO 419 History of Economic Thought (3)
An exploration of leadership concepts as they examine economic thought from the mercantilist to the present, with emphasis on such schools of thought as the Classical, Marxist, Neo-Classical, Keynesian and Monetarist. Prerequisite: ECO 203 and 204. Offered alternate fall terms.
ECO 421 Economics Internship (0-12)
Designed to offer students a professional experience in the field of economics in an institutional setting such as a government or financial institution. Prerequisite: CED 205 and Economics faculty permission. (Pass/Fail)
ECO 495 Seminar (3)
The utilization of the techniques of economic research combined with intensive reading and discussion of selected topics. Prerequisite: Junior or senior economics major or minor. Offered alternate spring terms.