B.S. in Economics

Fall Semester

Spring Semester

COURSE DESCRIPTION

ECO 102: Introductory Economics:

This course is designed to acquaint the student with economic issues of the day (e.g., inflation and recession as they affect family and national income). Students will recognize relationships among prices, wages, profits, and supply and demand as they influence daily lives. Course satisfies program prerequisite of economics for master's degree programs.

Prerequisite ACC 103

Prerequisite ENG 101

MATH 112: Survey of Mathematics I:

A course designed to acquaint students with problem-solving strategies, sets and applications, logic, arithmetic in different bases, real number system, and algebra. Prerequisite: Two units of high school mathematics.

ECO 115: Introduction to Personal Economics:

Introduction of personal economics to students in providing them with skills aimed at promoting personal financial responsibility. Topics include budgeting, purchasing decisions, consumer credit, compound interest, savings and investments, home ownership, insurance, retirement and estate planning.

ECO 117: Mathematical Methods for Economics:

Development and application of mathematical techniques to economics.

MATH 121: Survey of Mathematics II:

A course designed to acquaint students with consumer mathematics, geometry, mathematical systems, introduction to probability and statistics, and an introduction to computers.

Prerequisite ENG 102

Prerequisite MKT 102

Prerequisite ACC 101

ECO 113: Principles of Macroeconomics:

This course prepares the student to understand the economic structure of the world economy, to interpret common economic measures, to understand the processes of governmental fiscal and monetary policies, and to evaluate individual decision-making from an economic perspective.

ECO 114: Principles of Microeconomics:

Basic principles of economics with a particular emphasis on the nature and application of those bearing on decision making within a household, firm or industry; including consideration of problems respecting the composition and pricing of the national output, distribution of income, pricing and output of factors of production and foreign trade. Prerequisite IMS 101

ECON 302. Intermediate Macroeconomics:

Theory of income, employment, interest rates, and the price level; fiscal and monetary policy; budget and trade deficits; money and capital inflows, interest rates, and inflation.

ECON 308. Agent-Based Computational Economics.

Computational study of economies as evolving systems of autonomous interacting agents. Key ideas from game theory and complex adaptive systems theory for modeling the adaptation, learning, and co-evolution of economic agents in decentralized market economies. Evolution of behavioral norms and interaction networks. Building agent-based computational laboratories for the experimental study of market protocols and agent learning processes. Illustrative economic applications (e.g., financial markets, labor markets, agricultural markets, electricity markets, auction markets, automated Internet markets, collective usage of common-pool resources).

ECON 312. History of Economic Thought.

The logic and explanatory value of received economic doctrines since the middle of the eighteenth century. The reflection of past economic doctrines in contemporary theory and policy. Discussion of major works by Smith, Ricardo, Mill, Marx, Marshall, Walras, Wicksell, and Keynes.

ECON 320: Labor Economics:

Survey of contemporary labor market problems and public policy toward labor. Economic analysis of topics such as labor supply and demand, work incentives and compensation, transfer programs, education and training, mobility, minimum wages, unions, working conditions, benefits, discrimination, unemployment, wage differentials across regions, and labor markets in other countries.

ECO 201: Intermediate Microeconomics:

Maximizing behavior of households and firms; theory of price and output determination under various market structures; distribution theory; introduction to general equilibrium analysis.

ECO 202: Intermediate Macroeconomics:

The study of macroeconomic theory and policy. Models are developed which provide a framework for the discussion of macroeconomic issues and the policy choices decision makers face.

ECO 211: Economics of Discrimination:

Economic theories of discrimination. Analysis of the economic problems of women and minorities in such areas as earnings, occupations, and unemployment. Public policy concerning discrimination. Poverty measurement and antipoverty programs in Africa.

ECO 213: The Economics of Gender:

This course teaches students to analyze the economic decisions made by both males and females in two main areas: the labor market and the household. Specific areas of inquiry include the following: the family as an economic unit, gender differences in labor force participation, occupational gender segregation, explanations for gender earnings differentials and efforts to reduce such differentials, gender earnings discrimination, and international gender issues.

ECO 214: Economics of Aging:

Economic status of the aging, retirement planning and the retirement decision, role of Social Security, public transfer programs for the elderly, intrafamily transfers to/from the elderly, private pensions, financing medical care and housing for the elderly, prospects and issues for the future.

ECO 215: Economics of the Environment:

The course applies economic concepts and analysis to environmental issues such as pollution and natural resource management. Economic concepts and analysis used in the course will include supply and demand, cost benefit analysis, and the role of incentives.

ECO 216: Introductory Econometrics:

Introduction to the models and methods used to estimate relationships and test hypotheses pertaining to economic variables. Among the topics covered in the course are: Single and multiple regression analysis; functional forms; omitted variable analysis; multicollinearity; heteroskedasticity; autocorrelation; simultaneous equations; and dynamic models.

ECO 220: International Economic Development:

Theory of economic growth and development, with emphasis on developing economies and the techniques for understanding and promoting development.

ECO 221: Service Learning In Economics:

This service component for an existing course incorporates community service with classroom instruction in Economics to provide an integrative learning experience that addresses the practice of citizenship and promotes an awareness of and participation in public affairs. Includes 40 hours of service that benefits an external community organization, agency, or public service provider. Approved service placements and assignments will vary depending on the specific course topic and learning objectives; a list of approved placements and assignments is available from the instructor and the Citizenship and Service Learning Office.

ECO 223: Money and Banking:

Nature and functions of money, a survey of the operation and development of the banking system. Introduction to monetary theory and policy. Factors determining the market for labor; examination of the economic effects of trade unions; recent trends in the labor force and the labor share of national income.

ECO 224: Environmental and Resource Economics:

Natural resource availability, use, conservation, and government policy, including energy issues. Environmental quality and pollution control policies.

ECON 227: Economic Development:

Current problems of developing countries, theories of economic development, agriculture, and economic development, measurement and prediction of economic performance of developing countries, alternative policies and reforms required for satisfying basic needs of Third World countries, interrelationships between industrialized countries and the developing countries, including foreign aid.

ECO 228: Sports and Entertainment Economics:

Microeconomic tools used to examine a wide variety of topics pertaining to the sports and entertainment industry such as monopoly and monophony market structure, labor market issues including free agency and salary caps, and public policy concerns involving the impacts of sports and entertainment on the economy. Also includes an examination of the economics of various forms of media and entertainment including movies, cable, music, amusement parks, and casinos.

ECO 325 Industrial Organization:

Theory and public policy concerning the structure, conduct and performance of some selected African industries. Primary emphasis is on oligopolies and monopolies.

ECO 301: Public Finance:

The economic role of governments in market economies. Public goods, externalities, income distribution, and income maintenance programs. The effect of taxes on economic behavior, descriptions of the structure of taxes.

ECO 311: International Trade and Finance:

Explanations of causes of international trade and the impact of trade on welfare and employment patterns. Analysis of government policies towards trade, such as tariffs, quotas, and free trade areas. Theory of balance of payments and exchange rate determination, and the role of government policies. Examination of alternative international monetary arrangements

ECO 312: Economic Analysis for Investors:

This course examines economic principles used by investors and financial reporters. Concepts are drawn from several fields of economics including microeconomics, macroeconomics, money and banking, labor economics, and international economics. Students will participate in a stock market game, make in-class presentations and conduct internet research.

ECO 313: Applied Economic Optimization:

Application of linear algebra, calculus and unconstrained and constrained optimization techniques to economic problems. Learning outcomes include the ability to (i) identify the objective, decision variables and constraints in economic decision problems, (ii) represent elements of an economic problem in simple mathematical models, (iii) identify and apply mathematical tools that can be used to solve the problems, (iv) identify the strengths and limitations of the solution method, and (v) interpret the economic meaning and implications of the solution.

ECO 314: Rural, Urban and Regional Economics:

Firm location with respect to regional resources, transport, scale economies, externalities, and policies. Measures of local comparative advantage and specialization. Spatial markets. Population location considering jobs, wages, commuting, and local amenities. Business, residential, and farm land use and value. Migration. Other topics may include market failure, regulation, the product cycle, theories of rural and urban development, developmental policy, firm recruiting, local public goods and public finance, schools, poverty, segregation, and crime.

ECO 315: Topics in Microeconomics:

Advanced treatment of selected topics from one or more of the following areas: household production models, factor markets, game theory and imperfect competition, general equilibrium, intertemporal choice, asset markets, income distribution, externalities and public goods, etc.

ECO 317: Topics in Macroeconomics:

Advanced treatment of selected topics from one or more of the following areas: business cycle theory, growth theory, fiscal and monetary policy, coordination issues, open economy macroeconomics, and financial economics.

ECO 320: Managerial Economics:

Theory of the firm; organizational incentives and efficiency; moral hazard; role of information and decision making under uncertainty; ownership and control; business investment.

ECO 321: Commodity Marketing and Risk Management:

The purpose and performance of commodity markets. How commodity marketing institutions function. Merchandising arrangements. Distinguishing features of agricultural commodities. Hedging, arbitrage, and speculation in commodity spot, forward, futures, and options markets. Valuation theory.

ECO 322: International Trade:

Rigorous treatment of theories of international trade and international factor movements. Examination of the impact of trade and labor migration on domestic and world welfare and on the distribution of income. Theoretical analysis of government policies towards trade and factor movements, including quotas, tariffs, free trade areas and immigration restrictions. Discussion of contemporary issues and controversies concerning globalization, including multinational firms and labor migration.

ECO 324: International Finance:

National income accounting and balance of payments; foreign exchange rates and exchange rate markets; money, interest rates, and exchange rate determination; prices, exchange rates, and output in the short run; international monetary arrangements; fixed versus flexible exchange rates; optimal currency areas; international capital flows; currency and financial crises in emerging markets.

ECO 326: Economic Systems for Electric Power Planning:

Evolution of electric power industry. Power system operation and planning and related information systems. Linear and integer optimization methods. Short-term electricity markets and locational marginal prices. Risk management and financial derivatives. Basics of public good economics. Cost recovery models including tax treatment for transmission investments.

ECO 327: International Economics:

Introduction to the key concepts of international trade and finance with a focus on the fundamental theories of international economics. Topics include the gains from and the patterns of international trade, protectionism, exchange rate determination and government policy intervention.

ECO 328: Comparative Economic Systems:

Study of the basic principles and institutions of national economies with an emphasis on capitalist, socialist, and mixed economic systems. A comparison of economic systems in various nations and of economies in transition to an increasingly globalized environment.

ECO 401: Fundamentals of Economics:

An accelerated course dealing with the fundamentals of micro- and macroeconomic theory, designed for graduate students who have not completed undergraduate principles of economics.

ECO 411: Health Care Economics:

A basic study of the economics of the health care market. Microeconomic theory is applied to the analysis of health care issues. Attention will be given to empirical studies of health care economics.

ECO 412: Intermediate Econometrics:

Examination of the principles of economic model construction and the econometric techniques used in estimation of behavioral relationships.

ECO 413: Cooperative Education in Economics:

To enable qualified students to apply theoretical constructs and analytical techniques in a supervised work environment. This course cannot be credited toward a major in economics if the student has completed a total of three or more credits or cooperative education in another discipline.

ECO 414: The Economic Analysis of Law:

Microeconomic theory is used to analyze the law and legal procedures. Although one purpose of the law is to resolve disputes between individuals, this course will focus on analyzing the incentives that the law gives rational individuals. Economic models are applied to four basic areas of law: property, contract, tort (accident), and criminal law. In addition, economic models are applied to the formation of the law and to legal institutions.

ECO 415: Public Sector Economics:

Allocation and distribution functions of the public sector of the economy; theories of taxation and public expenditure; shifting and incidences of taxes, local-state federal finance.

ECON 492. Graduating Senior Survey.

Final preparations for graduation. The final stages of job searching, interviewing, letter writing, and resume preparation. Outcomes assessment information from graduating seniors including opinion surveys, instructor/advisor/course evaluations, exit interviews, student accomplishment surveys, job placement surveys, and comprehensive skills examinations. Departmental recognition of graduating seniors. Life as an alumnus - expectations and obligations. Convocation and commencement information.

ECO 421: Labor Supply and Human Capital Formation.:

Labor supply decisions and empirical analysis for agricultural operators and other self-employed and wage-earning households; multiple job holding; resource allocation in productive households; human capital formation by households, firms, and public institutions, which includes schooling, on-the-job training, migration, health, research, raising of children, and implications for household income and welfare; applications to problems in rural areas of developing and developed countries.

ECO 422: Issues in International Economics:

Theories of international trade and finance. Emphasis on current policy issues in international economics.

ECO 423: Business Cycles and Forecasting:

Fluctuations in the level of economic activity; an examination of the basic principles and techniques of economic forecasting.

ECO 424: Money and Credit Markets:

Role performed by the Federal Reserve System, financial intermediaries, non-financial businesses, the public, and the foreign sector in developing and maintaining money and credit flows.

ECO 425: Advanced Economic Analysis:

Unconstrained and constrained optimization; applications of the envelope theorem and duality to standard economic models, including utility maximization, profit maximization and expenditure/cost minimization.

ECO 426: Applied Econometrics:

Students will learn simple regression and multiple regression analysis. Additional topics include model building, cross sectional and time series analysis, as well as related topics.

ECO 499: Directed Research in Economics:

The student is expected to conduct research in a selected topic in economics and to produce a written report.