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Courses

(This list of courses may not be up to date. Please see the latest General Catalog for a complete list of current courses.)

ECON 051. Economic Principles and Problems (3) A general introduction to the nature, significance and scope of economics. The principles of economic analysis are developed and used to examine a wide variety of current and/or controversial economic issues. This course is ideal for students who are unlikely to take another economics course; however, for students choosing to major or minor in economics after taking this course, ECON 051 may substitute for the ECON 055 requirement. Students can receive departmental credit for ECON 051 only if it is taken prior to both ECON 053 and ECON 055.

ECON 053. Introductory Microeconomics (4) A study of the economic decisions of individuals and firms. Evaluates efficiency and equity in individual choice processes. Examines economics of monopoly and competition as well as economics of pollution and governmental regulation. Prerequisite: Basic Skills Math examination or MATH 005 or higher.

ECON 055. Introductory Macroeconomics: Theory and Policy (4) A study of the national economy. Special emphasis is placed on policies designed to meet the national goals of full employment, stable prices and economic growth. The course examines the spending and saving behavior of households and business, government spending and taxing policies, and the Federal Reserve’s monetary policies. Prerequisites: Basic Skills Math or MATH 005 or higher. ECON 053 is recommended first for students planning to take both ECON 053 and 055.

ECON 071. Global Economic Issues (4) An introduction to all aspects of the global economy. Consideration of how the U.S. economy is linked to the rest of the world and how the world’s economic problems affect the well-being of every U.S. citizen. Reviews economic principles in covering the basics of international trade, international finance, globalization, economic development of the poor countries, world population problems, international environmental economics, and transition economies. Prerequisites: ECON 053 and 055 or 051. (ECON 071 cannot be taken for credit if the student has taken or is concurrently enrolled in ECON 121 or 123. ECON 071 is also listed as an SIS course.)

ECON 093. Special Topics (4)

ECON 101. Intermediate Microeconomic Analysis (4) The behavior of individuals and firms in a market economy. Price theory, distribution and welfare economics. The course provides a rigorous development of the tools that economists have utilized for studying the allocation of resources. Prerequisite: ECON 053.

ECON 101L. Intermediate Microeconomic Analysis Laboratory (1) This addition to ECON 101 will present microeconomic theory in a more rigorous, formal and mathematical way. It is necessary for students completing the Bachelor of Science – Mathematical Economics Track or planning to attend graduate school in Economics. Prerequisite: ECON 053 and Calculus (MATH 033, MATH 051 or a 4 or a 5 on AP Calculus AB).

ECON 103. Intermediate Macroeconomic Analysis (4) Study of the measurement of the level of economic activity; the determinants of national income, employment and the price level; use and appraisal of economic data in the context of a dynamic market economy. Stabilization problems and the relevance of fiscal, monetary and income policy. Prerequisites: ECON 053 and 055.

ECON 103L. Intermediate Macroeconomic Analysis Laboratory (1) This addition to ECON 103 will present macroeconomic theory in a more rigorous, formal and mathematical way. It is necessary for students completing the Bachelor of Science – Mathematical Economics Track or planning to attend graduate school in Economics. Prerequisite: ECON 053, ECON 055 and Calculus (MATH 033, MATH 051 or a 4 or a 5 on AP Calculus AB).

ECON 111. History of Economic Thought (4) The rise and fall of schools of economic thought around the world, as well as specific ideas, theories, doctrines, applications and policies. The course will connect the history of economic thought with the history of the underlying economies. We will examine the effects of economic evolution, economic revolution and changes in technology resources, as well as contemporary political, social and religious developments. Expect lively discus sions, particularly of the political influences affecting individual economists and the implications of their work. We will read works about and by Adam Smith, David Ricardo, Thomas Malthus, John Stuart Mill, Karl Marx, modern microeconomists, Veblen, Keynes, and others. Prerequisite: ECON 053 and 055 or permission of the instructor.

ECON 118. Globalization History: Economic, Environmental, and Demographic Interactions (4) ‘Globalization’ is conveniently considered a recent, even post –World War II, phenomenon. This conventional notion is challenged in this course, where we analyze new research that states that deep worldwide connections have existed for many centuries. The course is divided into three sections. Part I examines geographical and environmental factors that determined living standards in specific regions throughout the world during the past 13,000 years. Part II focuses on the birth of global trade beginning in the 16th century. Dynamics within China played a crucial role, while Europeans were middlemen (rather than prime movers) in this process. In Part III of the course, the Industrial revolution in Europe is compared with industrial condition within China, Japan, and elsewhere simultaneously. A debate is discussed concerning whether industrialization occurred first in northwest Europe because of internal conditions within a European core, versus a view that environmental constraints at a global level played a key role in determining why industrialization first appeared within northwest Europe. Prerequisites: ECON 053 and 055, or permission of the instructor.

ECON 121. International Trade (4) A study of the economic theory surrounding the exchange of goods and services between countries and the application of this theory to current international issues. Topics include the determination of world trade patterns, the effects of changing trade patterns on income distribution within a country; the pros and cons of trade barriers; trade concerns of developing countries; and the effects of international trade on the world’s natural environment. Prerequisites: ECON 053 and 055. (Course also listed among SIS courses).

ECON 123. International Finance (4) A study of the financial side of international economics. Topics include balance of payments accounts and the foreign exchange market; exchange rate determination and the macro economy; the international debt crisis and capital flight; and the history of international monetary systems. Prerequisites: ECON 053 and 055. (Course also listed among SIS courses.)

ECON 125. Economic Development (4) Examines the plight of the world’s poor countries. Discussion of the extent of world poverty. Review of the evolution of ideas on the topic of economic development over the past three decades. Course considers the following types of questions: What are the causes of development and/or underdevelopment? Are Third World countries merely at a primitive stage of development analogous to European countries prior to the Industrial Revolution? What are the roles of climate, the legal system, education, health and sanitation, natural resources, technology, multinational corporations, religious beliefs and so on? Are rich countries making a meaningful effort to aid poor countries? Can we, or even should we, help? Should emphasis be placed on the agricultural or industrial sector? Prerequisites: ECON 053 and 055 or permission of the instructor. (Course also listed among SIS courses.)

ECON 131. Public Finance (4) Study of the role of the government in the economy. Uses the tools of economic analysis to examine how government policies affect not only the efficiency with which the economy operates but also the welfare of its citizens. Covers both the expenditure and the taxation sides of government activity, examines public choice questions of policy selection and implementation and, throughout the course, considers the equity implications of government actions. Primary focus is on government at the national level; however, significant attention is paid to issues relevant or specific to state and local governments. Prerequisites: ECON 053 and 055 or 051.

ECON 141. Money and Banking (4) The nature of money and credit and their roles in directing the economic activity of a nation. The development and operation of the central bank and monetary institutions of the United States; problems of achieving full employment and price stability through monetary policy. Prerequisites: ECON 053 and 055, or permission of the instructor.

ECON 151. Urban Economics (4) An economic analysis of the evolution, growth, and decline of urban areas and the location choice decisions of households and firms within urban areas. Attention then focuses on normative analyses of urban policy issues such as housing, poverty, crime and pollution. Prerequisite: ECON 053.

ECON 154. Industrial Organization and Policy (4) The history, structure, conduct, and performance of industry as well as currently proposed industrial policy will be examined. After studying the evolution of modern U.S. industries and firms; monopoly, oligopoly, and competitive structures; and anti competitive conduct among firms, the course will analyze government regulation of business, especially antitrust and price regulation policies, as well as recent trends to deregulation and reindustrialization. Prerequisite: ECON 053; ECON 101 recommended.

ECON 157. Environmental and Natural Resource Economics (4) The application of economic theory to natural resource and environmental issues. Microeconomic principles are used to suggest what a proper balance between human activity and environmental preservation might be and to critically analyze current environmental policy. Both domestic and global issues are addressed. Topics include resource scarcity, sustainability and sustainable development, water conservation, mobile- and stationary-source air pollution, global warming, and toxic substances. Prerequisite: ECON 053.

ECON 160. Mathematical Economics (4) A mathematical analysis of neoclassical theories of production and consumption. Differential calculus and linear algebra applied to unconstrained and constrained extrema, including the envelope properties of optimization problems. Primary emphasis is placed on the application of mathematics to economic theory. Topics include competitive and noncompetitive firms and industries, Cobb-Douglas and CES production functions, the Slutsky equation and applications of homogeneous functions to economics. Prerequisites: ECON 101, 103 and MATH 033, or permission of the instructor.

ECON 161. Computer Applications in Economics (4) A quantitative analysis of a variety of micro- and macroeconomic problems by means of the computer. The emphasis is upon the application of economic and statistical models, e.g., input-output, linear programming and linear regression. These models and their computer analogues are used to evaluate economic changes due to such phenomena as the energy, pollution, defense spending and inflation/unemployment problems. Prerequisites: ECON 053, 055; MATH 037 or 039 or 130 or 131 or permission of the instructor; some familiarity with computer programming recommended.

ECON 171. Political Economy (4) This course begins with an examination of the ideology which underlies Neoclassical Economics. Once the world view of economics is understood, we explore three specific “social/economic/political” issues wherein ideology plays a decisive role in current debates. We look, first, at the topic of “Income Distribution, Poverty and Welfare in the U.S.” (including such diverse issues as human capital theory, minimum wage and foreign competition). Next, we turn to the topic of “Women in the Workforce,” (including the issues of comparable worth, the feminization of poverty and affirmative action). Last, we explore the subject of “Environmental Economics,” focusing here on the equity/efficiency issues surrounding the economists’ perspective of the crises and the solutions they offer for this critical world problem. Prerequisites: ECON 053 or 051.

ECON 180. Labor Economics (4) Examination of labor’s role in the market system and the response of labor and government to market failures. Microeconomic analysis of labor supply and demand, wage and employment determination, and the effects of discrimination. Development of the labor movement from a chronological and theoretical perspective with emphasis on the collective bargaining process. Influence of public policy on labor relations and labor market functioning. Prerequisite: ECON 053. (Course also listed under Gender Studies.)

ECON 183. Health Economics (4) This course applies the tools of microeconomics to the study of health care. It provides an analysis of how decisions are made by health care providers, consumers, and third parties responsible for payment (e.g. health insurers). The course is built around individual's demand for health care and the supply of services by doctors and hospitals. Topics covered include health insurance, managed care and industry competitions, the pharmaceutical industry, the role of the government as a provider of care, long-term care, international health comparisons, and cost-benefit analysis/cost-effectiveness analysis. Prerequisite: Econ 051 or Econ 053.

ECON 190. Econometrics (4) A study of the methods used to test economic theory with real-world data. The course presents the theory underlying common econometric methods and gives students experience in applying these analytical tools to data from a variety of sources. Students learn to develop testable hypotheses based on economic theories they have learned in earlier courses and to make reliable statistical inferences about these hypotheses. Students will gain a working, applicable knowledge of the skills and software used by many professional economists and sought by many employers. Prerequisites: ECON 053 and 055 (or 051) and MATH 037 or 039 or 130 or 131.

ECON 191. Independent Study (2-4)

ECON 093 193. Special Topics (4)