Course Offerings

REQUIRED COURSES:

ECON 101. PRINCIPLES OF ECONOMICS

An introduction to economics stressing the fundamental and central concepts in economics and discussing methods and topics that engage economists. Topics include supply-and-demand analysis, determination of prices, output and profits, distribution of income, determination of real GDP, and fiscal and monetary policy.

Offered: every semester.

Instructor:  Staff

ECON 202. ENVIRONMENTAL ECONOMICS

ECON 251. INTERMEDIATE MICROECONOMICS

A study of how individuals and organizations deal with the problem of scarcity, the role of prices in coordinating economic activity, criteria for determining desirable allocation of resources, the mix of private and public institutions, and the economic basis of public policies. (Formerly 211)

Prerequisite: ECON 101 and MATH 141 or MATH 161

Instructor: Staff

ECON 252. INTERMEDIATE MACROECONOMICS

An examination of aggregate economic activity focusing on the forces that determine the behavior of real GDP, interest rates, and the price level. Economic growth, fluctuations, unemployment, and inflation are analyzed along with alternative policies for dealing with them. (Formerly 212)

Prerequisite: ECON 101 and MATH 141 or MATH 161

Faculty: Staff

ECON 253. FUNDAMENTALS OF ECONOMETRICS

This course focuses on building multiple regression models useful for testing economic theories and making business forecasts. Topics include simple and multiple regression, dummy variables, multicollinearity, heteroscedasticity, serial correlation, and binary dependent variable models. The coursework includes extensive use of statistical software packages and large data sets. Students who receive credit for 253 may not receive credit for ECON 365. Similarly, students who receive credit for ECON 365 may not receive credit for 253. (Formerly 213)

Prerequisite: ECON 251; MATH 186

Instructor: Staff

ECON 255. MULTINATIONAL BUSINESS AND CORPORATE SOCIAL RESPONSIBILITY

Strategic corporate social responsibility (CSR) is about how a company resolves the dilemmas around its core product or service, how that product is produced, and how and to whom it is marketed. In effect, multi-national corporations which have a business model that uses profit to fuel constant innovation in new products, now have to include, for example, programs to reduce emissions, carbon trading, fair trade practices and differential pricing of general drugs in poor developing countries that demonstrate the potential for CSR; others illustrate the continuing limitations. The object of this course is to make students aware of international business situations that require moral reflection, judgement and decision, while revealing the complexities that often surround business choices and the formation of public policies. Learning through cases of irresponsible actions as well as responsible behavior, the course focuses attention on the study of International Business circumstances in which hard choices must e made under complex conditions of uncertainty and disagreement. Students who receive credit for 255 may not receive credit for ECON 352. Similarly, students who receive credit for ECON 352 may not receive credit for 255.

Prerequisite: ECON 101, ECON 218 or permission of instructor

Instructor: Ahene

ECON 259. FINANCIAL ACCOUNTING & REPORTING

An introduction to the basic concepts and standards underlying the measurement and reporting of the financial effects of economic events on the business entity. Emphasis is on the theory of asset valuation and income determination and its implications for the communication function of accounting. Students are required to attend a weekly one-hour lab in which they learn spreadsheet techniques and applications to financial accounting.

Instructor: Handy

ECON 300. INDUSTRY, STRATEGY, AND POLICY

This course serially examines the major sectors of the global economy using the tools of economic theory. For each sector, students analyze current market conditions and trends, financial performance, critical challenges, and relevant public policies.

Prerequisite: ECON 251

Instructor: Crain

ECON 303. INCOME TAX TOPICS

This course introduces students to the concepts and intricacies of federal income tax policies. Students learn to recognize the major transactions inherent in business and financial transactions.

Prerequisite:  ECON 218

Instructor: Handy

ECON 311. CAUSES OF THE FINANCIAL CRISES

Prerequisite: ECON 251, ECON 252 and (ECON 253 or ECON 365), or permission of instructor

Instructor: Kelly

ECON 319. FINANCIAL THEORY AND ANALYSIS

This course takes the principles of accounting and applies them to the world of finance. The emphasis is on the theory that underlies corporate accountability for financial reporting. Selected reporting and disclosure issues, such as financial statement presentations, earnings per share (EPS), debt, equity, and investments of excess funds for strategic financial management, as well as cash flow analysis, are incorporated. Excel spreadsheets are used extensively. [W]

Prerequisite: ECON 218

Instructor: Bukics

ECON 320. CORPORATE FINANCE

Analysis and practical application of corporate financial data as it relates to managerial decision making. Particular emphasis is placed on the corporate investment and financing decision, risk management, and the dividend.

Prerequisite: ECON 319

Instructor: Kelly

ECON 321. INVESTMENTS

An examination of the portfolio theory and security analysis involved with both fixed income and equity securities. Topics include analysis, pricing, and risk management.

Prerequisite: ECON 320.

Instructor: Kelly

ECON 322. FINANCIAL MARKETS

This course is an introduction to Flow of Funds analysis and interest rate determination in the money and capital markets, the structure of interest rates, efficient market hypothesis, and major financial institutions in the United States.

Prerequisite: ECON 251, ECON 252, or permission of instructor

Instructor: Kelly

ECON 323. MONEY, FINANCIAL INTERMEDIATION, AND THE ECONOMY

A theoretical analysis of the role of money in determining the level of economic activity. Topics covered include the determination of interest rates and inflation, the institutional structure of financial intermediaries and the Federal Reserve, and the history of monetary policy in the United States. [W]

Prerequisite: ECON 251, ECON 252, or permission of instructor

Instructor: Smith

ECON 324. OPTIONS AND FUTURES

This course examines the practices and principal theories of major options and futures markets. Special emphasis is placed on the role of derivative securities in facilitating risk management.

Prerequisite: ECON 321.

Instructor: Kelly

ECON 325. WOMEN AND THE ECONOMY

This course surveys a wide range of economic issues relating to women’s lives with special emphasis on family, work, and income. Public policy applications are stressed.

Prerequisite: ECON 101, ECON 251, and ECON 253 or ECON 365

Instructor:  Averett

ECON 327. APPLIED MICROECONOMETRICS

The course introduces students to the application of econometric techniques commonly used by microeconomists. The emphasis is on specification, estimation, interpretation, and testing of microeconometric models rather than a thorough treatment of asymptotic properties of estimators. Methods considered include panel data estimators, instrumental variables estimators, difference-in-differences methods, limited dependent variable models, quantile regressions and non-parametric regressions. An emphasis will be placed on application through data-intensive assignments and a research project. [W]

Prerequisite: ECON 253 or ECON 365. ECON 365 can be taken concurrently as long as the student has completed MATH 336.

Instructor: Stifel

ECON 328. LABOR ECONOMICS

This course examines in detail one of the most important markets in economics: the labor market. The course will investigate the key theories behind labor supply and labor demand and how they interact to determine wages and employment. Other topics include: the effects of government policies including welfare programs and minimum wages, compensating wage differentials, education, and human capital, immigration, discrimination. The course will take both a theoretical and empirical look into these topics.

Prerequisite: ECON 251 & ECON 253 or ECON 365

Instructor: Larsen

ECON 330. URBAN ECONOMICS AND PUBLIC POLICY

An introduction to the economic analysis of urban areas. Theories of urban growth and of intra-metropolitan land use are explored. Topics include trends in the location of economic activity within urban areas, the urbanization of poverty, and problems of urban government.

Prerequisite: ECON 251, ECON 252, or permission of instructor

Instructor: Ahene

ECON 331. INDUSTRIAL ORGANIZATION: MARKET STRUCTURE

This course integrates microeconomic theory with economic application techniques in an investigation of various market structures, strategic firm interaction, antitrust issues, and economic regulation. Beginning with the standard Structure-Conduct-Performance paradigm and proceeding through some of the most recently developed theories in noncooperative games, the course content exposes students to an array of methods that facilitate the analysis of market structures, antitrust, and regulatory issues.

Prerequisite: ECON 251

Instructor: Ruebeck

ECON 332. ECONOMICS OF HEALTH CARE

This course provides an overview of the economics of health and medical care. By the end of the semester, students should have the institutional knowledge and analytical tools needed to contribute to current public policy debates about health and medical care.

Prerequisite: ECON 101, ECON 251, ECON 253

Instructor: Averett

ECON 336. BEHAVIORAL ECONOMICS

Drawing on methods from psychology, sociology, neurology, and economics, this course sheds light on one of the most fundamental human activities: the decision process. In Behavioral Economics you will learn state-of-the-art theories and methods that explain the economic choices that we all make every day. In contrast to standard approaches, we will not only use economic tools but also psychology-based concepts such as impulsiveness, self-control, cognitive dissonance, overconfidence, anchoring, framing, emotional reactions, intrinsic motivation, etc.

Prerequisite: ECON 251

Instructor: Gomez-Minambres

ECON 337. ECONOMIC ISSUES IN THE DEMAND FOR MEDICAL CARE

This course studies the health care systems and institutions, the demand for medical care and medical insurance, and the production and costs of medical care from an economic perspective. General issues in cost and benefit analysis will also be introduced. The objective of this course is to teach students to learn and apply various microeconomics tools to demand side health issues and problems, and to promote a better understanding of health policies. This course differs from ECON 336 which focuses on the supply of health care.

Prerequisite: ECON 101, ECON 251, and ECON 253

Instructor: Staff

ECON 338. ECONOMICS OF SPORTS

The application of theoretical economics to the sports industry. Professional and collegiate sports offer opportunities for both theoretical and empirical research due to the amount of data that is available. Topics include market structure and antitrust, managerial decisions for inputs and outputs, pay and performance in labor markets. Students chose a topic area for presentation and write a paper on a contemporary sports issue.

Prerequisite: ECON 251,and either ECON 253;or ECON 365

Instructor: Staff

ECON 339. THE FOUNDATIONS OF ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT

This seminar explores business entrepreneurship as foundational in an economy’s transformation, growth and development. Its analytical underlay is that entrepreneurship, whether redistributive or productive, converts ideas into economic opportunities, “assetizing” and commoditizing their intellectual properties and property rights into economic prices and tradable values through market exchange, which in turn drives and guides innovation and change and flexibility and dynamism in an economy. The focus will be on the institutional framework, environment, and analytical processes that enable business entrepreneurship.

Prerequisite: ECON 251

Instructor: Hutchinson

ECON 340. ENVIRONMENTAL AND RESOURCE ECONOMICS

This course provides a survey of environmental and natural resource economics with applications to real world contemporary issues. We will discuss fundamental economic principles in public goods and environmental valuation and the economics of renewable and non-renewable resources and discuss policies to manage natural resources. Topics will include market mechanisms and market shortcomings, property rights, non-market valuation, pollution control, discounting and dynamic efficiency, nonrenewable and renewable resource management, climate change, and sustainability.

Prerequisite: ECON 251, ECON 253, or permission of instructor

Instructor: Liu

ECON 341. PUBLIC SECTOR ECONOMICS

A study of the public sector of the economy that includes the theories of public revenues and expenditures, the tax structure of American governments including analysis of the rationale and consequences of major taxes, and major expenditure programs. Fiscal problems of state and local governments and intergovernmental fiscal relations are also examined.

Prerequisite: ECON 251, ECON 252, or permission of instructor

Instructor: Staff

ECON 342. PUBLIC FINANCE

This course is a study of the role of government in the economy: when should government intervene, how does it intervene, and what is the effect of interventions on economic outcomes? These issues are examined using the tools of economic theory and statistics, with emphasis on applications and analysis of policies in the United States and other countries.

Prerequisite: ECON 251, ECON 253

Instructor: Crain

ECON 345. POLITICAL ECONOMY

Political economy examines issues that lie on the boundary of political science and economics. At one level, the course uses the tools of modern economics to examine behavior in political settings: why people vote, make campaign contributions, run for political office, favor specific legislative programs, and so forth. At another level, the course seeks a rich understanding of economic policymaking by considering the role of political institutions and non-market incentives.

Prerequisite: ECON 251, ECON 253

Instructor: Crain

ECON 346. ECONOMIC DEVELOPMENT

An introductory survey of the economic structures and behavior of developing countries and how these factors influence their approach to the challenges of reducing poverty, improving health and education, and increasing their productive capacity and national and per capita income. The course examines the applicability of conventional economic logic and analytical tools to developing economies. Competing paradigms of development and the implications of different sets of behavioral assumptions are explored.

Prerequisite: ECON 210 or ECON 251–ECON 252, or permission of instructor

Instructor: Hutchinson, Stifel

ECON 347. ADVANCED TOPICS IN DEVELOPMENT ECONOMICS

This course will cover a series of topics on economic development in low-income countries.  The emphasis will be on microeconomic theory as it applies to poor country settings.  The topics addressed in the course are based on recent advances in economic theory related to information-based market failures and fragmentation, coordination failures, and self-reinforcing mechanisms that result in persistence of dysfunctional institutions prevalent in poor countries.

Prerequisite: ECON 251, ECON 252

Instructor: Stifel

ECON 351. INTERNATIONAL MONETARY SYSTEMS

This course provides students with an understanding of the international monetary system. The course examines the foreign exchange market and the role that governments play in this market. A review of previous and current exchange rate systems and an analysis of international capital markets is provided.

Prerequisite: ECON 210 or ECON 251–ECON 252, or permission of instructor, and junior/senior standing

Instructor: Staff

ECON 352. INTERNATIONAL BUSINESS

This course examines the mechanics of doing business abroad and thoroughly explores the challenges that management faces today within an international environment. The greater the number of countries in which a corporation operates, the more “multinational” it is. More specifically, students are introduced to the field of global strategic management and are provided with a good understanding of the fundamental importance of cultural, economic, political, and environmental factors in the growth of global business and investment.

Prerequisite: ECON 210, or ECON 251–ECON 252, ECON 218

Instructor: Bukics

ECON 353. INTERNATIONAL TRADE POLICY

This course examines the ways in which international trade in goods and services is regulated through trade policy. This course has several objectives: 1) to provide students with an understanding of how and why international trade is regulated, 2) to demonstrate to students how particular trade policies affect international trade and international economic welfare, and 3) to expose students to the economic and political forces that shape international trade policy.

Prerequisite: ECON 210 or ECON 251–ECON 252, or permission of instructor

Instructor: DeVault

ECON 354. CONTEMPORARY AFRICAN ECONOMICS

Analysis of the contemporary economic environment in Africa: political sociocultural identity and economic structure, trends in public and private capital flows, African regional and international economic institutions, trade development and relations with world markets, investment concessions and risk, with case illustrations from African countries.

Prerequisite: ECON 210 or ECON 251–ECON 252, or permission of instructor

Instructor: Ahene

ECON 358. CORPORATE GOVERNANCE AND ETHICAL RESPONSIBILITY IN THE GLOBAL ENVIRONMENT

The publicly owned corporation is the dominant legal form for business enterprises in the past 100 years. Corporate governance refers to the organizational structure that supports an enterprise’s efforts to utilize firm assets to produce goods and services for profit. The main focus of this course is the intersection of corporate governance principles, financial accountability and the effective execution of ethical business decisions by both large multinational enterprises (as individual entities) and the employees that act on behalf of the firm. Thus, this course will examine the rights and responsibilities for each of the constituents who serve a key role in facilitating efficient and effective business practices, most notably the chief executive officer, the board of directors and the shareholders. Legal requirements, other regulatory financial reporting constraints, as well as the role of corporate culture throughout the globe are also considered.

Prerequisite: ECON 319

Instructor: Bukics

ECON 360. INDUSTRIAL ORGANIZATION: MARKETING TO CONSUMERS

We explore many questions that firms investigate about existing and potential markets, including: How to price and promote their products? What new products should be introduced? Should the firm make or buy inputs? Retail directly or through franchisees? Drawing on price theory and strategic marketing, we use graphical and mathematical modeling techniques along with case study methods to explore the techniques and economic efficiency of marketing decisions and customer relationships in diverse and evolving markets. [W]

Prerequisite: ECON 251

Instructor: Ruebeck

ECON 361. MARKETING RESEARCH

Although the pervasive assumption in microeconomics is that firms know their market demand functions, understanding how firms actually acquire this information requires studying the well-established techniques embodied in the field of marketing research. Consumer demand features studied include preferences among existing products, new product development, competitive analysis, and customer satisfaction. Research design, data collection methods, sampling issues, and data analysis using basic and advanced statistical techniques are covered.  Students apply econometrics to the task of understanding consumers’ needs.

Prerequisite: ECON 251 and ECON 253

Instructor: Ruebeck

ECON 364. MACRO OF EMERGING MARKET ECONOMICS

This seminar will explore issues relating to the theory and practice of macroeconomic stabilization and adjustment in emerging market / developing countries. Specifically we will discuss a variety of policy measures that governments and policymakers in international organizations have pursued in an attempt to minimize fluctuations in international capital flows, real national output and income,to correct unsustainable balance-of-payments deficits and/or to correct high domestic inflation. An assessment of these policies within the context of emerging market economies will give students an appreciation of the inherent challenges.

Prerequisite: ECON 251 and ECON 252

Instructor: Hutchinson

ECON 365. ECONOMETRIC ANALYSIS

Econometric analysis is a blend of mathematics, statistics, and economic theory. It focuses on the development of multiple regression models useful for testing economic relationships and making business forecasts. The multiple regression model and problems encountered in its application are developed in lecture and individual applied research papers. Topics include serial correlation, heteroscedasticity, simultaneous equations, limited dependent variable models. Special attention is given to the matrix algebra determination of estimators. Students who receive credit for 365 may not receive credit for ECON 253. Similarly, students who receive credit for ECON 253 may not receive credit for 365.

Prerequisite: MATH 272 or MATH 300, MATH 336, MATH 186 (with permission of the instructor); ECON 251, ECON 252 (one of the preceding can be taken concurrently)

Instructor: Averett, Stifel

ECON 366. MACROECONOMETRICS

The twin objectives of this course are to 1) introduce students to macroeconometric theory and techniques and 2) provide students with practice applying those techniques. The topics covered in the course are: Solow Growth, Okun’s Law, the Phillips curve and monetary policy. Techniques covered include time series decomposition, vector autoregressions and conintegration. The course involves frequent use of econometric software to provide students with experience in applying the techniques discussed in class. [W]

Prerequisite: ECON 365 (may be taken concurrently), MATH 272

Instructor: Staff

ECON 367. INTERNSHIP

A one-semester course that emphasizes the practical application of economics and business management principles. A limited number of students are placed in either community business organizations or governmental agencies. Under the direction and supervision of a designated internship sponsor, the student completes a training program and a practical work project. Internships do not count toward the elective courses required in the major. Permission of instructor required.

Instructor: Averett

ECON 368. ADVANCED MONETARY POLICY
A small group of selected students work together with faculty mentors in competition with teams from other colleges and universities. Each team develops a presentation involving U.S. monetary policy and delivers this presentation to judges from the U.S. Federal Reserve System. Interested students are encouraged to take Econ 323-Money, Financial Intermediation, and the Economy.

Prerequisite: ECON 252, Committee Recommendation

Instructor: Smith

ECON 370-375. SPECIAL TOPICS

A seminar study of major economic issues facing the United States and world economies. Topics to be announced in advance of each semester.

Prerequisite: As stated for each special topics course

Instructor: Staff

ECON 390, 391. INDEPENDENT STUDY

An investigation and report on a subject selected by the student. Open by permission of the department. Hours to be arranged.

Instructor: Staff

ECON 401. ECONOMIC ANALYSIS OF THE HEALTH CARE INDUSTRY

This course applies microeconomic theory to analyze the health care market from the perspectives of those who supply health care. We will start with a description of what a health care system is and discuss the recent health care reform in the U.S. We will then turn our focus to the production of health and then the production of health care. Our attention will then turn to those who supply care including the market for physicians and hospital services, and the pharmaceutical industry. Finally, the structure and performance of the U.S. health care system will be compared to that of other countries. Discussion of empirical studies, current policy debates, and the relevance and limits of the economic approach will be emphasized. Focus of the course is on the economics and not politics or personal opinions. Regardless of your own personal views on health care reform, the goal is for you to be able to analyze the market for health care using the tools and perspectives of an economist. [W]

Prerequisite: ECON 251, ECON 252 and ECON 253

Instructor: Averett

ECON 402. ECONOMICS OF EDUCATION

This course applies economic theory to the analysis of the education sector and education policies. We will start by investigating why people make the decision to invest in education using two different models of the returns to education. We will then turn to the “production” of education, examining what the key inputs into education are and how they can be effectively used. Afterwards we focus on the education market itself, market reforms as well as government policies that can help or hinder the distribution and attainment of education. While this course will primarily focus on K-12 education, we will also discuss some early childhood learning as well as higher education policy. Throughout the course there will be a focus on empirical methods and studies. These studies will be viewed as a test of our economic models and help us analyze education policy from an economics perspective. [W]

Prerequisite: ECON 251, ECON 252 and ECON 253

Instructor: Larsen

ECON 403. ADVANCED TOPICS IN MACROECONOMICS

This course builds upon the theory introduced in Intermediate Macroeconomics, with emphasis on empirical research. First, using mathematical models of the macroeconomy, we will develop a set of tools in order to think about macroeconomic policy issues, most of which require us to think dynamically. In other words, we want to be able to answer questions that involve choices between today and tomorrow on relevant issues when thinking about development from a macroeconomic perspective (consumption, investment, fiscal or monetary policy, etc.). Second, we will practice economic thinking and writing, by asking specific questions and using empirical and statistical methods to investigate and test the predictions of various models. We will discuss the merits and drawbacks of the various approaches that are used. [W]

Prerequisite: ECON 251, ECON 252 and ECON 253

Instructor: Ogrokhina, Smith

ECON 404. BIG IDEAS IN ECONOMICS

This is a survey course of big ideas in economics-the kind of ideas that transformed the way we understand economics today.We begin by developing an understanding of economics as a set of often-competing models, rather than as a discipline defined by a general theory of economics (despite the titles of some of the works that we will read). We then turn to the foundational work of Adam Smith and the formalization of his work by Arrow and Debreu in the Fundamental Theorems of Welfare Economics. The remaining breakthroughs include Akerlof’s work on information asymmetry; the Stopler-Samuelson theorem on the relationship between tariffs and wages; Nash’s equilibrium and game theory; Keynes’ thinking on fiscal stimuli; and the Mundell-Flemin Trilemma. For each of the big ideas, we will identify the critical assumptions of the models so that we can better understand how/when they are applicable. [W]

Prerequisite: ECON 251, ECON 252 and ECON 253

Instructor: Stifel

ECON 405. MEASURING POVERTY and INEQUALITY

This course gives the students some knowledge on the different instruments and approaches available to measure poverty and inequality, in their multiple dimensions, with particular reference to the instruments designed and used by the World Bank and the UNDP. It has a philosophic-historical part, with a deep analysis of the concepts of poverty and inequality, a methodological part (study of the measure instruments) and an applied empirical part (topics and current literature). [W]

Prerequisite: ECON 251, ECON 252, and ECON 253

Instructor: Staff

ECON 406. PERSONNEL ECONOMICS

This course provides an economic analysis (both theoretical and empirical) of human resources management policies. In particular, we will study the problems of selection and motivation of employees within an organization. Thus, we will discuss topics such as compensation schemes, recruiting mechanisms, performance evaluation or peer effects in the workplace. [W]

Prerequisite: ECON 251, ECON 252, and ECON 253

Instructor: Gomez-Minambres

ECON 407. MACROECONOMIC FORECASTING

This course builds upon econometrics and macroeconomic theory to create and evaluate forecasts of macroeconomic variables. First we will focus on time series econometric techniques to create forecasts and develop methods, statistics, and empirical tests to evaluate and compare forecasts. Next we will explore a range of topics in the literature focusing on different strategies and methods for improvement. You will create and evaluate your own forecasts emphasizing the merits and limitations of various approaches. [W]

Prerequisite: ECON 251, ECON 252, and ECON 253

Instructor: Guisinger

ECON 408. COST-BENEFIT ANALYSIS

This course connects economic theory with policy analysis using the tool of “cost-benefit analysis.” The goal of a cost-benefit analysis is to measure a project’s economic efficiency by providing a formal description of the associated costs and benefits. In particular, we will explore different non-market valuation methods to evaluate the costs and benefits associated with environmental projects. This course will provide you with the theoretical background and practical skills required to critically assess a cost-benefit analysis and to perform your own cost-benefit analysis. [W]

Prerequisite: ECON 251, ECON 252, and ECON 253

Instructor: Liu

ECON 495, 496. THESIS

For honors candidates. One course each semester, only ECON 496 counts toward the required electives in the major; ECON 495 does not. 496 [W]

Instructor: Staff