 | |||||||||||
Search Catalog
Economics
Graduating economics majors are expected to understand the operation of a market economy and to be able to evaluate the fundamental issues affecting the U.S. economy. These issues include balance of trade, economic growth, the environment, welfare reform, government expenditures and taxation policies, and unemployment. Internships, while not required, are strongly recommended. A student considering the economics major is strongly advised to take ECON 101, ECON 102, MATH 123, and MATH 205 in her first year. ECON 201 and ECON 202 should be completed by the end of the second year. Potential majors and minors (first- and second year students) are advised to consult with economics professors when selecting classes.
The Economics Major
The Economics Minor
Course Descriptions
The Economics Major
(37 semester hours)
Required:
ECON 101 (3) Principles of Microeconomics
ECON 102 (3) Principles of Macroeconomics
ECON 201 (3) Intermediate Microeconomics
ECON 202 (3) Intermediate Macroeconomics
ECON 227 (3) Methods of Economic Analysis
MATH 123 (4) Calculus I
MATH 205 (3) Applied Statistics
Senior Exercise:
ECON 452 (3) Senior Seminar
Choose 4 additional 3-credit courses in economics at the 200-level or above. One of the following courses may be used toward this requirement.
ENVR 316 (3) Geographic Information Systems I
GOVT 246 (3) The Political Economy of International Development
GOVT 235 (3) Business, Government, and the Economy
NOTE: For the major in economics, the P/CR/NC grading option may not be exercised for any course which could count toward the major, with the exception of ECON 261, ECON 361, and ECON 461. Additional information about the P/CR/NC grading option is available under the Academic Regulations heading in this catalog.
The Economics Minor
(25 semester hours)
Required:
ECON 101 (3) Principles of Microeconomics
ECON 102 (3) Principles of Macroeconomics
ECON 201 (3) Intermediate Microeconomics
ECON 202 (3) Intermediate Macroeconomics
MATH 123 (4) Calculus I
MATH 205 (3) Applied Statistics
Choose 2 additional 3-credit courses in economics at the 200-level or above.
NOTE: For the minor in economics, the P/CR/NC grading option may not be exercised for any course which could count toward the minor, with the exception of ECON 261, ECON 361, and ECON 461. Additional information about the P/CR/NC grading option is available under the Academic Regulations heading in this catalog.
ECON 101
Principles of Microeconomics
CR:
3.0 An introduction to the role markets play in determining the prices for products and services, wages workers earn, profits companies realize as participants in competitive markets, and how government policies impact markets. III.Q, V.7
ECON 102
Principles of Macroeconomics
CR:
3.0 Prerequisite: ECON 101. An introduction to the overall national economy of the United States. This course explores why the economy grows or suffers recessions, why interest rates and price levels fluctuate, and why there is so much debate about issues such as poverty, health care, and education. In response to these issues, the course identifies tools available to government to deal with economic problems and examines their limitations. III.Q, V.7
ECON 201
Intermediate Microeconomics
CR:
3.0 Prerequisites: ECON 101 and MATH 123. Critical study of the theory of the behavior of consumers and business firms, the determination of prices under various market structures, and the welfare implications of the allocation of resources by markets. This course cannot be taken on a P/CR/NC grading option. III.Q
ECON 202
Intermediate Macroeconomics
CR:
3.0 Prerequisite: ECON 102. A critical study of the nature, construction, and econometric applications of static and dynamic models for the determination of the level of income, output, employment, and prices in closed and open economies. V.7
ECON 227
Methods of Economic Analysis
CR:
3.0 Prerequisites: ECON 101 and MATH 123. An introduction to the techniques of quantitative economic analysis, including the use of linear algebra, calculus and constrained optimization. The course is designed to introduce mathematics as a practical tool for economic analysis and to help students understand the foundations of economic thought. The focus of the course is on the application of mathematics to economics, not on mathematical theory. Offered alternate years. III.Q
ECON 234
Game Theory
Game theory attempts to capture behavior in strategic situations, or games, in which an individual's success in making choices depends on the choices of others. This class will introduce the equilibrium concept, and apply it to games involving multiple players, multiple periods, and imperfect information. Students will be taught how to approach interactions strategically. Offered alternate years. III.Q
ECON 248
Labor Economics
Prerequisite: ECON 101. An introduction to the functioning of labor markets through the interaction of workers and employers. Students examine the determinants of wage differences arising from demographics, such as gender, ethnicity, and age. Special consideration is given to decisions such as when to attend college, how many children to have, and why one might work less if paid more. Offered alternate years.
ECON 261
Directed Study
CR:
1.0 Prerequisites: One ECON course and permission of the instructor. The study of introductory level material by an individual student or by a small group of students under the immediate supervision of a faculty member.
ECON 313
International Economics
CR:
3.0 Prerequisite: ECON 101. This course surveys the field of international money and finance. Open economy macroeconomic theory will be developed and applied in the analysis of the balance of payments and foreign exchange rate problems and the formation of policies to solve or prevent such problems. Offered alternate years.
ECON 316
Industrial Organization and Government Policy
CR:
3.0 Prerequisite: ECON 201. This course investigates how the characteristics of market organization, or market structure, affect firm behavior and market performance. Special consideration is given to theories of the firm other than profit maximization.
ECON 325
Public Finance
CR:
3.0 Prerequisite: ECON 201. A study of the effects of government tax and expenditure programs on the allocation of resources and the distribution of income. Offered alternate years.
ECON 332
Econometrics
CR:
3.0 Prerequisites: ECON 101, MATH 123, and MATH 205. An introduction to statistical quantitative analysis of economic behavior. The ordinary least squares technique and the assumptions underlying it are developed. Methods designed to detect and correct for the violations of these assumptions are examined. Special emphasis is given to the practical application of the procedures discussed through the use of computer exercises.
ECON 342
Ecological Economics
CR:
3.0 Prerequisite: ECON 101. An application of economic theory to problems of environmental degradation, natural resource use and ecological disruption. Economic concepts, such as market failure, property rights and public goods, are combined with natural and physical science principles to explore the integration of economic and ecological systems. Emphasis is placed on the use of analytical economic tools such as benefit-cost analysis, economic policy instruments and non-market valuation. V.7
ECON 361
Special Study
CR:
1.0 Prerequisites: 100-level ECON course and permission of the instructor. The study of an intermediate level topic by an individual student or by a small group of students under the immediate supervision of a faculty member.
ECON 377
Internship
CR:
2.0 Prerequisites: Three credits in ECON and permission of instructor, department chair, and dean. This course is graded P/CR/NC only.
ECON 452
Senior Seminar
CR:
3.0 Prerequisite: Senior standing or concurrently completing all major requirements. A comprehensive review of basic economic reasoning and exercises in its application to the understanding and solution of contemporary problems. III.O, III.W
ECON 461
Independent Study
CR:
1.0 Prerequisites: One 100-level ECON course, one 200-level ECON course, and permission of the instructor. Pursuit of an upper level research project determined in advance by the student in consultation with a faculty member who will act as the sponsor.
ENVR 316
Geographic Information Systems I
CR:
3.0 Prerequisite: Permission required for first-year students. A practical, hands-on introduction to geographic information systems (GIS) as applied to current issues in a wide range of disciplines. The course introduces maps and map-making, GIS fundamentals, the global positioning system (GPS), and remote sensing. Lab involves learning to use ArcGIS software at the ArcView level for mapmaking and management/analysis of spatial data, along with basic web page construction. Two hours lecture and three hours lab per week.
GOVT 235
Business, Government, and the Economy
Utilizing the business school "case method" approach, this course examines the interrelationships between business, government, and the economy through the medium of public policy. It will focus on financial markets, particularly governmental responses to bubbles, panics, and crashes, and the political dimensions of the evolution of money and banking in America. Offered alternate years. V.7
GOVT 246
The Political Economy of International Development
This course explores various issues at the nexus of the economic and political dimensions of international development by examining the experience of countries in various parts of the developing world. What are the roots of unequal global wealth? Should women and children be a priority in attempts to eradicate poverty? How can sustainable development be achieved in the developing world? Offered alternate years. This course cannot be taken on a P/CR/NC grading option. V.4, V.7
