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ECO 101 Principles of Economics
This introductory course, which covers the basic foundations of microeconomics and macroeconomics, is the gateway to the economics curriculum and an important part of a well-rounded education. The microeconomics portion of the course covers basic supply and demand analysis, market failure, present value, opportunity cost, and the theory of the firm. The macroeconomics portion of the course introduces issues such as inflation, unemployment, and government policy tools. Students attend common lectures once a week and meet in smaller discussion sections twice a week. In addition to discussion and problem solving, the bi-weekly section meetings will focus on the use of Microsoft Excel to analyze real-world economic data. Credits: 1 |
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Economics 205 Development of Economic Thought
(HIS 236)
Designed for non-majors as well as majors, this course examines the intellectual history of economics. The ideas of great economists (including Smith, Ricardo, Marx, Keynes, Schumpeter and Knight) are analyzed and compared. Particular emphasis is placed on differing views toward capitalism—especially predictions about its eventual fate. This course is offered in the fall semester. (Not offered Fall 2005). Credits: 1 |
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ECO 213 Topics in Economic History: US
(HIS 245)
The purpose of this course is to use economics to improve our understanding of history and to use history to improve our understanding of economics. Examples of questions that may be addressed are: Why is the U.S. wealthy? How do government policies affect the economy? How has the role of government changed over the course of U.S. history? How did the institution of slavery and its abolition affect Southern economic development? Is the current U.S. banking system better than the systems that preceded it? What caused the Great Depression? This course is offered in the fall semester, alternate years. (Offered Fall 2005). Prerequisite: Economics 101 or consent of the instructor. Credits: 1 |
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ECO 214 Topics in Economic History: European
(HIS 235)
The purpose of this course is to study economic issues in European history. A substantial part of the course is devoted to the Industrial Revolution. What caused the Industrial Revolution and why did it occur in England? What effects did it have on living standards? Other topics will vary, but may include: agriculture, demography, Poor Laws, the Great Depression, and the gold standard. This course is offered in the fall semester, alternate years. (Not offered Fall 2005). Prerequisite: Economics 101 or consent of the instructor. Credits: 1 |
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ECO 222 Comparative Economic Systems
A critical comparative study of various economic systems. This class includes both an introduction to theoretical debates about what system is best, and a survey of some of the economic systems used in the past and in the world today. Particular attention is paid to variations of the capitalist system in Europe and the transition to capitalism in formerly communist countries. This course is offered in the spring semester, alternate years. (Not offered Fall 2005) Prerequisite: Economics 101 or consent of the instructor. Credits: 1 |
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ECO 224 Economic and Political Development
(PSC 324)
A brief survey of problems facing lesser-developed countries and of measures proposed and used for the advancement of political integration and the improvement of living standards and social welfare. Study will be made of the role of capital accumulation, private initiative, representative government, and other factors in economic growth and political modernization. This course is offered in the spring semester. Prerequisite: Economics 101 or consent of the instructor. Credits: 1 |
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ECO 231 Law and Economics
An examination of the proposition that economic reasoning can explain the evolution of the law. By focusing on property, tort, and contract law, each student can decide for himself the power of economics as a driving force in the law. By its very nature interdisciplinary, this course is designed for non-majors as well as majors. This course is offered in the spring semester. Prerequisite: Economics 101 or consent of the instructor. Credits: 1 |
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ECO 251 The Economic Approach with Microsoft Excel
An introduction to optimization, equilibrium, and comparative statics via Microsoft Excel®. This course emphasizes numerical problems while illustrating the essential logic of economics. Economics majors are strongly encouraged to take this course in the sophomore year. Prerequisite: Mathematics 111, concurrent registration in Mathematics 111, or consent of the instructors. Credits: 1/2 |
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ECO 253 Introduction to Econometrics
This course introduces students to empirical work in economics. Regression for description, inference, and forecasting is presented in a non-formulaic, intuitive way. Microsoft Excel® is used to analyze data and perform Monte Carlo simulation. Heteroscedasticity and autocorrelation are covered. Students will also learn how to read and write empirical papers in economics. Economics majors are strongly encouraged to take this course in the sophomore year. This course is offered in the spring semester. Prerequisite: Division III 252. Credits: 1 |
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Economics 262 Financial Institutions and Markets
This course uses basic tools of economic theory to analyze modern financial institutions and markets. The financial instruments to be covered range from credit card loans to mortgages, stocks, bonds, futures, and options. The main questions of the course are: What roles do commercial banks, pension funds, insurance companies, investment banks, mutual funds, and the government play in financial markets? What determines the prices of stocks and bonds? How can individuals and institutions deal with risk and how is risk measured? What drives innovation in financial markets? The course concentrates on contemporary U.S. institutions, but offers some historical and international perspective. Both non-majors and majors in Economics are encouraged to take this course. This course is offered in the spring semester. Prerequisite: Economics 101. w Howland, Frank M. Credits: 1 |
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ECO 277 Special Topics
The course provides opportunities for specialized, innovative material to be made available for students at the introductory level. Since the content of this course varies from semester to semester, it may be repeated for credit upon the instructor's approval. This course is offered fall/spring semester. Prerequisite: Economics 101 or consent of the instructor. Credits: 1 |
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ECO 291 Intermediate Microeconomic Theory
The course examines the development of the theories of the price mechanism under competitive and non-competitive market situations. The costs and revenue decisions of the firm are analyzed within the context of standard assumptions about economic behavior. The welfare implications of contemporary problems under partial and general equilibrium conditions are explored. Prerequisite: Economics 101 and Math 111, or consent of the department chair. Credits: 1 |
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ECO 292 Intermediate Macroeconomic
The measurement, determination, and control of the level of economic activity. General equilibrium models are used to determine real output, employment, inflation, unemployment, exchange rates, and interest rates. The roles of fiscal and monetary policy are analyzed in their application to fluctuations in economic activity. Prerequisite: Economics 101 and Math 111, or consent of the department chair. Credits: 1 |
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ECO 321 International Trade
Examines the theory of international trade and its applications. Students will learn why nations exchange, what determines the patterns of production and trade across countries, and what the welfare implications of trade are for the world at large and for the domestic economy. Special topics include GATT, multinationals, protectionism, and Third-world debt. Offered in the fall semester. (Not offered Fall 2005). Prerequisite: Economics 291 and Economics 251, or consent of the instructor. Credits: 1 |
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ECO 322 International Finance
This course provides an introduction to international financial markets. Topics include forward, futures, and options markets, the balance of payments, models of exchange rate determination (including the phenomenon of exchange rate overshooting and speculative bubbles), and the efficacy of central bank intervention on exchange rates. Course materials include case studies of exchange rate policy under the Kennedy and Carter administrations as well as the European Monetary System (EMS). This course is offered in the spring semester. Prerequisite: Economics 292, and Economics 253. Credits: 1 |
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Economics 331 Economics of the Public Sector
An examination of the economic role of the public sector in the United States. Some of the general questions addressed include: When do markets fail to bring about desirable outcomes in the absence of government intervention? Under what circumstances can governmental action improve economic outcomes? What are the main features and economic effects of current government tax and expenditure programs? By what principles should reform of these programs be guided? this course is offered in the fall semester. Prerequisite: Economics 291. w Howland, Frank M. Credits: 1 |
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ECO 332 Labor Economics
Why do different people earn different wages? What determines firms’ demand for labor. What determines workers’ labor supply? Why has wage inequality increased? Why does unemployment exist? The purpose of this course is to answer these questions using both microeconomic theory and econometrics, and to apply this knowledge to questions of labor market policy. Topics addressed include the determinants of labor demand and supply, minimum wages, human capital, efficiency wages, and discrimination. This corse is offered in the spring semester. Prerequisite: Economics 291 and Economics 253, or consent of the instructor. Credits: 1 |
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ECO 333 Industrial Organization and Control
Extends Economics 291 by examining both the theoretical and the empirical analysis of imperfectly competitive firms. Particular emphasis is devoted to oligopoly theory and strategic behavior in which firms determine the best ways to compete with their marketplace rivals. Other topics include price discrimination, imperfect information, vertical restrictions such as resale price maintenance, and the role of innovation in market structure. This course is offered in the fall semester. Prerequisite: Economics 291 and Economics 251, or consent of the instructor. Credits: 1 |
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ECO 353 Topics in Econometrics
An introduction to applied economic statistics and techniques for reaching sensible conclusions on the basis of empirical economic evidence. The course covers theoretical issues more rigorously than Economics 253, but also gives students hands-on experience with sophisticated econometric software. Topics covered include: simple and multiple linear regressions, autocorrelation and heteroscedasticity, time series and forecasting, simultaneous equations, and qualitative response models. Numerous empirical exercises and a significant empirical paper are among requirements of the course. This course is irregularly scheduled. Prerequisite: Economics 291, 253, 251, or consent of instructor. Mathematics 223 (Linear Algebra) recommended. Credits: 1 |
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Economics 361 Corporate Finance
This course applies economic theory to analyze financial decisions made by corporations. These decisions include what real assets to invest in and how to raise the funds required for these investments. The analysis concentrates on the roles of the timing of cash flows, the risk of cash flows, and the conflicts of interest between the various actors in the world of corporate finance. Special attention is paid to stocks, bonds, dividends, and options. Extensive use is made of financial data and spreadsheets. Offered in the spring semester. Prerequisite: Economics 251, 291, and a course in Statistics (either Division III 252, Mathematics 107, 217, 227 or Psychology 201.) Credits: 1 |
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ECO 362 Money and Banking
An introduction to financial markets and the assets traded therein with an emphasis on the role and function of commercial banks is followed by an examination of the practical problems, successes, and failures of the Federal Reserve System in executing monetary and credit policies in the recent past. This course is offered in the fall semester. Prerequisite: Economics 292. Credits: 1 |
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ECO 363 Topics in Macroeconomics
Featuring macroeconomic policies and issues, this course includes the study of business cycles, the economics of government deficits and debt, case studies in macroeconomic policy, and macroeconomic forecasting. This course is irregularly scheduled. Prerequisite: Economics 292, 253, and 251. Credits: 1 |
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ECO 364 Case Studies in Macroeconomics
Utilizing a case study approach, this course explores advanced issues in macroeconomic policy. Topics covered include the business cycle, international macro, and growth. This course is offered in the fall semester. Prerequisite: Economics 292, 253, and 251. Credits: 1 |
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ECO 377 Special Topics
The course provides opportunities for specialized, innovative material to be made available for students at the advanced level. Since the content of this course varies from semester to semester, it may be repeated for credit upon the instructor’s approval. Prerequisite: Economics 101, Economics 291 or 292, -or consent of the instructor. Credits: 1 |
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ECO 387 Independent Study
Students desiring to perform independent study in Economics should plan their project with the instructor who is to supervise. Consent of the department chair is required. One-half to one course credit, each semester. Credits: 1/2 |
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ECO 388 Independent Study
Students desiring to perform independent study in Economics should plan their project with the instructor who is to supervise. Consent of the department chair is required. One-half to one course credit, each semester. Credits: 1/2 |
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Economics 401 Senior Seminar
A capstone seminar course in which current economic problems and policy are analyzed. This course is required of all economics majors. This course is offered in the fall semester. Prerequisite: Economics 291, 292, 253, and 251. Credits: 1 |
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ECO 491 Advanced Microeconomic
The course refines the microeconomic analysis offered at the intermediate level by introducing more rigorous mathematical tools. Additional topics in microeconomic theory are introduced and analyzed with the use of advanced mathematical techniques. The course is especially recommended to students considering graduate work in economics and should also prove useful to students considering graduate study in business. This course is irregularly scheduled. Prerequisite: Economics 291 and two semesters of calculus or consent of the instructor. Credits: 1 |
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ECO 492 Advanced Macroeconomics
The major propositions of intermediate macroeconomics are reviewed and expressed in the language of mathematics, and more complex and newer theories of macroeconomics are presented. A major substantive focus will be on the similarities and differences between classical, post Keynesian, monetarist and rational expectations theories for macroeconomics, recent relevant empirical findings and implications of economic policy. The course is especially recommended to students considering graduate work in economics and should also prove useful to students considering graduate study in business. This course is irregularly scheduled. Prerequisite: Economics 292 and Mathematics 111. Credits: 1 |