2017-2018 Undergraduate General Catalog


ECON - Economics

ECON 120 Principles of Economics I (SS)

A study of the historical evolution of economic thought and economic systems with major emphasis on the "market system" (capitalism). Topics include scarcity, economic systems, supply and demand, competition, monopoly power, income distribution and the role of government in the economy.

Credits

3

ECON 121 Principles of Economics II

A study of the aggregate economy (including the international economy). Topics include national income accounting, economic indicators, business cycles, economic growth, the role of money in the economy, and monetary and fiscal policies. Alternative schools of economic thought are also presented.

Credits

3

Prerequisites

ECON 120

ECON 270 Statistics

The basic course in statistical inference oriented toward the elements of description, estimation, and the testing of hypotheses. Topics include probability distributions, confidence intervals, tests of means, proportions, and differences, correlation and regression, analysis of variance, and chi-square tests of qualitative data. Principles are applicable to both social and physical sciences.

Credits

4

Cross Listed Courses

PSYC 270

ECON 301 Money, Banking, and Financial Institutions (W)

Development of the monetary and financial system: nature and functions of money, organization and operation of commercial banks and the Federal Reserve System and an introduction to monetary theory and policy.

Credits

3

Prerequisites

ECON 120; ECON 121; MATH Course

ECON 320 Intermediate Microeconomics

Intermediate Microeconomics applies economic analysis to the process of managerial decision making. Topics include consumer theory, production theory, supply and demand, elasticity, and managerial decision making under various market structures. Additional topics may include regression analysis, alternative explanations of wage rate determination, income inequality, and discrimination.

Credits

3

Prerequisites

ECON 121; ECON 270

ECON 321 Intermediate Macroeconomics

An analysis of aggregate production, employment, income, and price level from different theoretical perspectives.

Credits

3

Prerequisites

ECON 121; ECON 270; MATH Course

ECON 333 International Political Economy

Analysis of the historical and theoretical basis for international trade and the politico-economic institutions that facilitate and impede it. Critical survey of themes associated with economic "globalism".

Credits

3

Prerequisites

ECON 121

ECON 337 History of Economic Thought and Methodology

The study of economic concepts and doctrines within the social context of the past and their impact on the development of economic theory and methodology.

Credits

3

Prerequisites

ECON 121

Cross Listed Courses

HIST 337

ECON 373 Econometrics

Ordinary least squares regression, including underlying assumptions and interference in both simple and multiple regression models is discussed, as are dummy variables, model structure, and functional form. Methods designed to detect and correct for the violations of the standard assumptions are examined. The effects of individual observations and of correlation among independent variables are also discussed. Additional topics include simultaneous equations, time series, limited dependent variable, and panel data models.

Credits

3

Prerequisites

ECON 120; ECON 121; ECON 270 or MATH 315

ECON 490 Senior Seminar (W)

An overview of various economic concepts and approaches to current problems; seminar setting with both faculty and students convening the sessions; synthesizing reports.

Credits

4

Prerequisites

ECON 121; Three ECON advanced courses

ECON 495 Internship in Economic Analysis

An internship permits an individual to explore and obtain practical experience in a professional area of interest. Consult a department member for available opportunities. Plans for an internship must be made well in advance of the term in which the internship is to be carried out.

Credits

4

Prerequisites

Permission of the Department Chair