Romain College of Business

 

Economics

 

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Economics Courses (ECON)


ECON 175: Fundamentals of Economics (3) An introduction to basic economic terms and concepts, such as scarcity, opportunity cost, trade, markets, prices, competition, unemployment, inflation, business cycles, and growth. Special emphasis is given to the application of these terms and concepts to choices which individuals face everyday and to current social problems.

ECON 208: Principles of Microeconomics (3) An introductory analysis of individual decision-making in a market system. Topics include market price determination, the influence of prices and costs on consumer and producer behavior, and the importance of seller competition. Prereq: MATH 111 or its equivalent.

ECON 209: Principles of Macroeconomics (3) An introductory analysis of overall economic activity, including income, production, employment, and prices. Alternative theories of, and policies toward, economic stabilization and growth are examined. Prereq: MATH 111 or its equivalent.

ECON 241: Global Economic Issues (3) An introduction to the causes and consequences of the growing economic interdependence of nations. Emphasis is placed on how different people, cultures, institutions, and economies are affected by, and respond to, current global issues. Prereq: ECON 175 or 208 or 209 or consent of instructor.

ECON 265: Elementary Statistics (3) Presents mathematical, tabular, and graphical techniques for describing sets of data and for making inferences from the data. Uses business problems as a vehicle of presentation. Prereq: MATH 111 and CIS 151.

ECON 301: Economic Ideas and Current Issues (3) This course provides an introductory application of economic concepts to a wide variety of current social issues and problems with an integrative emphasis across the social sciences. Prereq: junior standing

ECON 308: Intermediate Microeconomic Theory (3) An in depth study in microeconomic theory. This framework is fundamental to understanding an enormous range of phenomena in business, public policy, social behavior, and a variety of other fields. Microeconomic analysis relies on a small set of enormously powerful analytical tools: constrained optimization analysis, equilibrium analysis, and comparative statistics analysis. This course attempts to help you master these tools by illustrating their use in many different contexts. Prereq: Econ208, Econ209 and either Math230 or Math215.

ECON 309: Intermediate Macroeconomic Theory (3) An in depth study in macroeconomic theory. The course will cover traditional macroeconomic topics like short-run fluctuations and stabilization policy, as well as explain other important issues like the determinants of long-run economic growth, the trade balance and financial flows, labor markets, and the institutional framework of policymaking. Prereq: Econ208, Econ209 and either Math230 or Math215.

ECON 327X: Applied Cost-Benefit (3) This course presents the analytical framework for a popular decision-making tool used by private and public sector managers for investment analysis and project evaluation.  Emphasis will be placed on understanding fundamental economic theory and practical measurement techniques.  The course will focus on real-life problems and case studies while discussing the limitation and critiques of the method. Prereq: ECON 208

ECON 331: Public Finance (3) Introduction to government finance. Study of public expenditures; debt management; various types of revenue including public domain, fees, special assessments, and taxes. Theories and principles of taxation. Prereq: ECON 208 and 209.

ECON 341: International Trade (3) The study of international trade theories, commercial policies, the movement of physical capital and labor between nations, and the economic effects of trade blocs. The course develops the theories in each of these areas and applies them to existing international economic relations. Prereq: ECON 208 and 209.

ECON 338: Environmental and Resource Economics (3) Explanation and application of the interplay between the natural environment and economic activity. Environmental economics focuses on the impact of economic activity on the natural environment; whereas resource economics studies the supply, demand, and allocation of natural resources used for economic activity. Issues include water and air pollution, global climate change, and the management of natural resources.  Prereq: ECON 208.

ECON 343: International Finance (3) The study of foreign exchange markets, exchange rate determination, balance of payments, international flow and management of financial assets and various risk exposures, and the operation and effectiveness of economic policy in an open economy. Cross-listed as FIN 343. Prereq: ECON 208, 209, and FIN 305, or consent of instructor.

ECON 346: Development Economics (3) Discussion of factors and theories related to the development of the Third World. Problems involved in the measurement and control of economic development. Case studies of Third World countries in the process of development. Prereq: ECON 208 and 209.

ECON 349: Open Economy Macroeconomics (3) This course provides students with an examination of the positive and negative facets of important economic phenomena that emerge from countries being financially interlinked and the policy tools that impinge on such phenomena. The course begins with a general model of an open economy and then considers special cases pertaining to particular countries, institutions, and historical time periods. Prereq: ECON 208 and ECON 209.

ECON 351: Labor Economics (3) An introductory course dealing with the economic problems of the wage earner in modern society; the structure, policies, and problems of labor organization and management; the process of collective bargaining; industrial relations law; wage theory and policy. Prereq: ECON 208 and 209.

ECON 353: Economics of Sports (3) An examination of the industry of sports using the tools and concepts of economic analysis. The topics to be addressed in professional and amateur sports include new stadiums and franchises, salary caps, unions, free agency, the NCAA, the existence of amateur status, and the impacts of monopoly and cartel behavior. Prereq: ECON 208.

ECON 357 Economics of Health Care (3) Students will learn about the health care sector and how to apply the tools of economics to analyze the structure and performance of this sector. The features of the market for health services are described with emphasis placed on the characteristics which make this market different from the markets for other goods and services. Prereq: Econ 208.

ECON 361: Money and Banking (3) The nature and function of credit in the American economy; operation of commercial banks; purposes and functions of the Federal Reserve System, and the introduction to monetary theory. Prereq: ECON 208 and 209.

ECON 365: Intermediate Statistics for Business Decisions (3) Continued exploration of statistical techniques and methods at an upper level in areas of business applications. The analysis of large and complex data sets will be emphasized. Topical coverage includes multiple regression, ANOVA, time-series analysis, some multivariate techniques, and non-parametric methods. Some computer analysis packages will be discussed and used. Prereq: ECON 265 or equivalent.

ECON 433: Games and Strategic Behavior (3) This course is designed to investigate those scenarios where agent's choices are made in the presence of strategic motives, i.e. an agent's optimal decision is dependent on the choices of others within the environment. The participants (players) within these types of strategic scenarios (games) need not be individuals; they can be firms, political parties, tribes, nations, etc. Prereq: ECON 308 or consent of instructor.

ECON 453: The Economics of Health Care (3) The purpose of this course is to provide students with a basic understanding of economics as it applies to consumer, producer, and government behavior in health care markets. Emphasis will be placed on using these tools to analyze issues currently affecting the U.S. health care market and subsequently to make appropriate policy recommendations based on these analyses.

ECON 461: History of Economic Thought (3) The development of economic thought into the present century. Emphasis on Smith, Malthus, Ricardo, Mill, Marx, Marshall, and Veblen. The literature is examined in relation to the social, political, and economic events of each period. Prereq: ECON 208 and 209.

ECON 472: Econometrics (3) How do economists test their ideas and theories? This course presents an overview of the economics devoted to the statistical testing of propositions derived from economic theory. An introduction to econometric methods and their application to economic research is developed. Prereq: ECON 265, 308, 309.

ECON 489: Special Topics in Economics (1-3) This course offers students the opportunity to study selected topics of current interest and importance in economics.  These topics will vary according to the interests of students and faculty.  Students may repeat the course up to three times, as the topic changes.  Prereq: ECON 208 and ECON 209 and consent of instructor.

ECON 490: Individual Study in Economics (1-3) Repeatable for up to three hours. Research and reading in the student’s major area of interest. May be taken on an arranged basis upon approval of the College of Business dean and the instructor.

ECON 499: Senior Seminar in Economics (3) A seminar and research course in selected topics of current interest. Prereq: Senior standing, ECON 308 and 309.