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Economics (ECON) Courses

Lower Division

ECON 201 PRINCIPLES OF MACROECONOMICS (3-0-3)(F,S,SU)(FS). Economics principles are used to analyze the aggregate performance of developed economies. Analysis is applied to domestic and international macroeconomic issues. The goals and problems of high employment, price stability, growth, and the balance of payments are analyzed. Monetary, fiscal, and other national policies are discussed.

ECON 202 PRINCIPLES OF MICROECONOMICS (3-0-3)(F,S,SU)(FS). An introduction to microeconomic analysis covering supply and demand, basic market structures, the operations of the price system, and the distribution of income. Provides an introduction to some applied areas of economics such as international and regional economics, the public sector, and economic development.

Upper Division

Upper-division courses in the Department of Economics (those with a course numbered 300 or higher) provide higher-level instruction to students who have the skills necessary to perform at this level. In addition to fulfilling the specific prerequisites listed and meeting the general university requirements for junior standing, every student admitted to a course is expected: to communicate clearly and correctly so that assignments such as term papers and presentations can be completed effectively, to organize and solve problems using the techniques of intermediate level high school algebra, to use a microcomputer for simple word processing and spreadsheet applications.

ECON 301 MONEY AND BANKING (3-0-3)(S). Analysis of the role of money, credit, and the financial system in the U.S. economy through the economics of commercial and central banking. Study of monetary theory and monetary policy as they affect both domestic and international economic policy goals. PREREQ: Admission to COBE or Economics BA major or Economics Minor, ECON 201 and ECON 202.

ECON 303 INTERMEDIATE MICROECONOMICS (3-0-3)(F,S,SU). An analysis of the price mechanism and its role in resource allocation, output composition, and income distribution. Topics include consumer choice and demand, theories of production and cost, and the economic performance of various market structures. The usefulness of price theory in the analysis of social problems and managerial decisions is stressed. PREREQ: Admission to COBE or Economics BA major or Business and Economic Analytics major or Economics minor, ECON 202 and MATH 160 or equivalent.

ECON 305 INTERMEDIATE MACROECONOMICS (3-0-3)(F,S). Analysis of the determinants of the level of national income, employment, productivity, and the price level. Analysis of the effects of economic policy instruments and decisions on aggregate economic performance goals. PREREQ: Admission to COBE or Economics BA major or Economics Minor, ECON 201.

ECON 307 COST-BENEFIT ANALYSIS (3-0-3)(S/SU). A comprehensive set of techniques and tools that are necessary for economic and business decision-making, and the economic evaluation of policies that are observed in a variety of public and private settings. Includes discounting, valuation techniques, and sensitivity analyses, contemporary cost-benefit case studies, and a required group cost-benefit analysis project drawn from a variety of disciplines relevant for both business and non-business degrees. PREREQ: ECON 201 or ECON 202.

ECON 311 HISTORY OF ECONOMIC THOUGHT (3-0-3)(F). Study of the origin and development of economic theories that have influenced western civilization. Particular attention will be given to the period since 1750. PREREQ: ECON 201 and ECON 202.

ECON 315 (GLOBAL 303) GLOBAL ECONOMIC DEVELOPMENT (3-0-3)(S). Economic development within the context of the global economy. Analysis of the sharp differences in economic development across the world. Different theories and applied methods to better understand the world’s development problems such as growing inequality between nations and within nations, stagnation in developing countries, as well as the possible socioeconomic consequences of those problems. How political and economic institutions interact in creating poverty or prosperity, and why different parts of the world end up with different institutions. May be taken for ECON or GLOBAL credit, but not both. PREREQ: ECON 201.

ECON 317 INTERNATIONAL ECONOMICS (3-0-3)(F,S). The benefits and pattern of world trade and investment. Tariffs, quotas, and the commercial policies of nations. The foreign exchange market and the balance of payments. Consequences of balance-of-payments disequilibrium for national policy. The analysis of international payments adjustment and the nature and institutions of international monetary systems. PREREQ: Admission to COBE or Global Studies major or Economics BA major or Economics minor, ECON 201 and ECON 202.

ECON 325 HETERODOX POLITICAL ECONOMY (3-0-3)(F). Introduction to alternatives to neoclassical positive economics and democratic-capitalist political economy. Consideration of Marxist, Austrian, Post-Keynesian, Feminist and Evolutionary as alternatives to how economies function and state socialism, syndicalism, anarcho-communism, mutualism, and individualist anarchism as alternatives to the question of how social relations should be organized. Topical coverage varies by semester. PREREQ: ECON 201 and ECON 202.

ECON 327 LABOR ECONOMICS (3-0-3)(S). Characteristics and structure of the U.S. labor force are examined and labor markets are analyzed to emphasize the micro- and macroeconomic factors affecting workplace decisions. Development of the U.S. industrial relations system is reviewed along with public policies, and these are contrasted with those of other western industrialized societies. PREREQ: ECON 201 and ECON 202.

ECON 333 NATURAL RESOURCE ECONOMICS (3-0-3)(F,S). The theoretical and policy issues associated with the use of natural resources are addressed, including property rights issues that arise when considering collective goods, externalities, and common property resources. Tools used in the design and evaluation of resource policy, such as benefit/cost analysis, are covered. PREREQ: ECON 202.

ECON 341 QUANTITATIVE METHODS IN ECONOMICS (3-0-3)(F,S). The first of a two-semester sequence in quantitative economic analysis. The course focuses on integrating quantitative methods with economic theory to critically analyze applied economic problems. Emphasis throughout is placed on developing communication skills critical to working as an applied economist. Topics will include equilibrium analysis, input-output analysis, comparative static analysis, optimization techniques, and dynamic analysis. PREREQ: ECON 201, ECON 202, and MATH 160 or MATH 170.

ECON 342 ECONOMETRICS (4-0-4)(F,S). The second of a two-semester sequence in quantitative economic analysis. This course emphasizes the application of statistics to the construction, estimation, and evaluation of econometric models. Other related topics will include history and methodology of econometrics, forecasting, computer application, and the use of econometrics in business and government. May be taken for graduate credit. PREREQ: Admission to COBE or Economics BA major or Business and Economic Analytics major or Economics minor, ECON 341, and BUSSTAT 207 or equivalent, or PERM/CHAIR.

ECON 401 RESEARCH PROJECT SEMINAR (2-0-2)(F). Capstone course that challenges students to conduct original research. Students will identify an applied research problem, gather data, and run preliminary analysis. Students will be discussing the practice of research design, data collection and challenges as well as the analysis of their data. Emphasis throughout is placed on developing communication skills critical to working as an applied economist. PREREQ: ENGL 102, ECON 341 and ECON 342, or PERM/CHAIR.

ECON 402 CAPSTONE SEMINAR (1-0-1)(S)(FF). Capstone course that implements the research project developed in ECON 401. In this course students will complete their analysis, “polish” their research paper, and formally present their results. PREREQ: ECON 401 or PERM/CHAIR.

ECON 405 UNITED STATES ECONOMIC HISTORY (3-0-3)(F)(Intermittently). Economic analysis is applied to important issues in the growth and development of the United States’ economy from colonial times to the present. Specific topics vary but may include: the economics of colonization, the transatlantic slave trade, the record and sources of 19th century economic growth, the expansion of education, and the quantitative analysis of economic and social mobility. PREREQ: ECON 201 and ECON 202.

ECON 410 (POLS 410) PUBLIC FINANCE (3-0-3)(S). This course examines the roles of government and market systems in modern economies using the tools of economic analysis to evaluate major public policy decisions. The theory and rationale of government spending, taxing, and indebtedness will be examined, as well as the effects of government activity on resource allocation, income distribution, and economic efficiency. This course draws on the tools of microeconomic theory to develop analytical tools such as cost-benefit analysis to examine public spending projects. May be taken for either ECON or POLS credit, but not both. PREREQ: ECON 201 and ECON 202.

ECON 431 REGIONAL ECONOMICS (3-0-3)(F). Application of economic analysis to regional problems of structure, growth, and policy. Location theory, various growth models, and specific techniques such as input-output analysis, base multipliers, and cost/ benefit analysis are developed. PREREQ: ECON 201 and ECON 202.

ECON 432 URBAN ECONOMICS (3-0-3)(S). Focus on the structure of the urban areas, locational patterns, housing, crime, pollution, poverty, financial, and transportation problems. Tools of economic analysis will be used to analyze the problems and existing and proposed policies. PREREQ: ECON 202.

ECON 440 HEALTH ECONOMICS (3-0-3)(F). Examines the economic issues associated with those individual and social decisions that influence the health of particular groups. Examines the production and delivery of health care and the economic and ethical aspects of health policy issues. Various economic approaches to the analysis of health policy are presented and evaluated. The focus is on the U.S. health care system. Comparisons will also be made to the health care systems of other nations. PREREQ: ECON 201 and ECON 202 or PERM/CHAIR.

ECON 455 DECISIONS, CHOICES AND HAPPINESS IN BEHAVIORAL ECONOMICS (3-0-3)(F). Discusses how psychological considerations can create “behavioral anomalies;” ways in which economists incorporate these anomalies into their theories; and the implications for market outcomes and public policies. The role of intangibles such as locational /environmental amenities / employment status on happiness, the implications of social and personal motives such as virtue ethics, altruism, status, procrastination, self-control, or image are also considered. PREREQ: ECON 202.

ECON 465 MANAGERIAL ECONOMICS AND STRATEGY (3-0-3)(S). Illustrates how to apply economic theory to business decision-making using actual examples and real data. Covers important empirical tools used by practicing managers in applied demand analysis such as linear and non-linear programming, sensitivity analysis, demand estimation and forecasting. Students learn to build mathematical models, solve constrained optimization problems, find and explore optimal solutions with spreadsheets. PREREQ: Admission to COBE or Economics BA major or Business and Economic Analytics major or Economics minor, ECON 202, MATH 160 or equivalent, and BUSSTAT 207 or equivalent.

ECON 471 ECONOMIC GROWTH (3-0-3)(F)(On Demand). Examines the question, “Why are some countries so rich while other countries are so poor?” Theoretical and empirical investigation considering factors that affect living standards such as population growth, physical capital and human capital accumulation, the state of technology, geography and the availability of natural resources, and culture and governmental policies. PREREQ: ECON 201 and ECON 202.

ECON 474 SUSTAINABILITY AND ECONOMIC POLICY (3-0-3)(S). Presents concepts, theories, data and empirical findings critical for analyzing sustainability problems and developing solutions in communities, cities, countries and regions. Explores how economics relates to the three pillars of sustainability: economic, social and environmental, emphasizing tradeoffs and synergies across the pillars. Following topics are covered: the meaning and history of sustainable development and the link between sustainability and well-being; sustainability indicators and metrics; natural resource (green) accounting; the valuation of biodiversity and ecosystem services; climate change; urbanization and sustainability; and business, international finance and sustainability. PREREQ: ECON 202.

ECON 493 ECONOMICS INTERNSHIP (V-V-V)(F,S,SU). Opportunity to apply economic principles in a business, nonprofit, government, or academic setting. (Pass/Fail.) PREREQ: Admission to COBE or Economics BA major or Economics Minor, ECON 303, ECON 305, BUSSTAT 207, and PERM/CHAIR.

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