Economics (ECON)

ECON-201  Economic Principles    4 Credits

Prerequisites: None
Terms Offered: Summer, Fall, Winter, Spring
Students are introduced to the economic way of thinking. Learn how individuals, firms, and societies make choices among alternative uses of scarce resources. A survey course, it covers both introductory microeconomics and introductory macroeconomics. The course combines applied theory and policy, and equips the student with the necessary tools to analyze and interpret the market economy.
Lecture: 4, Lab 0, Other 0

ECON-342  Intermediate Microeconomics: Managerial Economics    4 Credits

Prerequisites: ECON-201
Minimum Class Standing: Sophomore
Terms Offered: As needed
Microeconomic theory will be combined with quantitative analysis to bring out essential features of managerial decision making. Microeconomic topics to be covered include demand and supply, elasticities, consumer behavior, production analysis, costs of production in the short-run and long-run, market structures, pricing practices, government regulation of business, and decision making under uncertainty. The course is application oriented and focuses on the relevance of microeconomic theory to solve business problems of the real world. Regression analysis and optimization methods are used to estimate and optimize microeconomic relations relevant to the revenue and cost structure of the firm such as demand, production, and cost functions. Statistical estimation and inference is facilitated by suitable statistical software.
Lecture: 4, Lab 0, Other 0

ECON-344  Intermediate Macroeconomics: Economic Growth and Fluctuation    4 Credits

Prerequisites: ECON-201
Minimum Class Standing: Sophomore
Terms Offered: As needed
Macroeconomic theory and policy will be coved at the intermediate level. The determinants of GDP, inflation, unemployment, interest rates, and exchange rates are modeled. The sources of long run economic growth and business cycles are investigated. The effectiveness of government monetary and fiscal policy is evaluated. The course provides students with an understanding of the macroeconomic environment in which business and government decisions are made.
Lecture: 4, Lab 0, Other 0

ECON-348  History of Economic Thought    4 Credits

Prerequisites: ECON-201
Minimum Class Standing: Sophomore
Terms Offered: Summer, Fall, Winter, Spring (as needed)
The development of economic thinking will be analyzed by studying the work of preeminent economists and their schools of economic thought. The course helps the student understand contemporary economics and economic issues by studying how past thinkers viewed similar problems. Relevance of the great economic thinkers to contemporary economic issues is emphasized.
Lecture: 4, Lab 0, Other 0

ECON-350  Comparative Economic Systems    4 Credits

Prerequisites: ECON-201
Minimum Class Standing: Sophomore
Terms Offered: Summer, Fall, Winter, Spring
Capitalism, Socialism, Communism and other “isms” that have occupied the history of mankind have all claimed to hold the key to a more rational social order and a better economic future for mankind. Comparative economic systems set the stage for a comparison of contemporary nation-states in terms of national economic goals, the mechanisms chosen for attaining these goals, and the extent of success in matching means and ends. This course includes pure capitalism as an economic system. This will be followed by mixed economies. Countries to be studied under mixed economies include the U.S., United Kingdom, Germany, and France. In looking at the consequences of socialism as an economic system, countries to be studied include the Russian Federation, Poland, Czech Republic, Hungary, and Romania. Finally, problems of the less developed countries will be analyzed including India, Argentina, Brazil, Mexico, Nigeria, and Guinea. Emphasis will be put on economic decision making processes in all the contemporary economic systems.
Lecture: 4, Lab 0, Other 0

ECON-352  International Economics    4 Credits

Prerequisites: ECON-201
Minimum Class Standing: Sophomore
Terms Offered: As needed
This course offers the non-major in economics both the micro and macro components of international economics. It covers the theories and policies, as well as the institutional and historical contexts of the increasingly integrated international economy. By the end of the course, the student should be able to intelligently follow international economic issues and their impacts on national economies of various sizes. The student should also be able to explain patterns of a country’s trade, analyze trade data of any country, and predict the consequences of alternative trade policies and of movement in the values of major international currencies. Topics covered include absolute and comparative advantage, relative factor endowments, intra-industry trade, tariffs and quotas, factor movements, balance of payments, exchange rates and foreign exchange markets, and international monetary arrangements.
Lecture: 4, Lab 0, Other 0

ECON-391  Economics Special Topics    4 Credits

Prerequisites: ECON-201
An interdisciplinary advanced course focusing on a specific topic. This course is a one-time offering whose content is determined by current faculty interest, and provides a comprehensive and coherent examination of the chosen topic. This course may be repeated for credit under different topic
Lecture: 4, Lab 0, Other 0

ECON-499  Economics Independent Study    4 Credits

Prerequisites: None
Terms Offered: As needed
Advanced Level Economics Independent Study
Lecture: 4, Lab 0, Other 0

ECON-513  Microeconomic and Macroeconomic Concepts and Applications    4 Credits

Prerequisites: None
Minimum Class Standing: Senior
Terms Offered: See course offering matrix
This course consists of two modules: One in managerial economics and another in intermediate macroeconomics. The course is designed to serve as a prerequisite course for students entering graduate programs in management and related fields. Terms Offered: See course offering matrix
Lecture: 4, Lab 0, Other 0