Department of Economics

ECO 100. Economics for Today This course is structured so as to acquaint the student with basic economic theories, concepts, and tools.  The course will focus on the historic origins of these tools and their application to a wide variety of current issues and problems.  The course utilizes an institutionalist approach, emphasizing the determining economic outcomes.  Corequisite: college level mathematics course. 3 credits.

ECO 201. Basic Microeconomic Analysis  An investigation into the components of capitalistic market economies.  An analysis of market pricing and production dynamics, consumer demand, producer optimization, differing market structures, business regulation, wage and employment levels, unions, and income inequality.  Formerly ECO 206.  Not open to students who have taken ECO 1101.  Corequisite: college level mathematics course. 3 credits.ECO 202. Basic

ECO 202. Macroeconomic Analysis A study of how national economies function.  Analysis of differing economic systems, the proper roles for government, modern capitalism, unemployment, inflation, business cycles, the determinants of national output, government demand and supply management, money and banking, international trade and finance, and economic development.  Formerly ECO 250.  Not open to students who have taken ECO 1101.  Corequisite: college level mathematics course. 3 credits.

ECO 300. Comparative Economic Growth and Development  A study and analysis of diverse global economic areas, applying basic analytical tools to develop an in-depth understanding of their economic environment, their present and potential means for growth, and their interdependence. 3 credits.

ECO 301. Economic of Labor An analysis, both theoretical and empirical, of labor market dynamics, wage setting and employment determination.  Specific topics to be analyzed include labor force trends, education and training, wage and employment setting at the company level, unions, discrimination, labor productivity and real wages, government, policy, and technological change.  Prerequisite: ECO 201. 3 credits.

ECO 308. Economics of Money and Banking An analysis of money, commercial banking and central banking with concentration on policy implementation by the Federal Reserve System and resultant economic impacts both nationally and internationally.  Not open to students who have taken FIN 328. 3 credits.

ECO 309. Statistics for Economists An introduction to the analytical and decision-making techniques of statistics specifically applied to the discipline of economics by case study and example.  The course also introduces model-building techniques and prepares the student to begin the study of econometrics.  Prerequisites: ECO 201, ECO 202.  3 credits.

ECO 310. Econometrics  A laboratory approach to economics which presents methods for quantitative testing of socio-economic theories.  The course focuses on the multiple regression model and covers hypothesis testing and forecasting.  In addition to the classical regression model, the course will examine qualitative choice and simultaneous equations models.  The course will utilize computerized statistical programs extensively.  Prerequisites: ECO 309 or equivalent.

ECO 315. Intermediate Microeconomic Analysis  A study of consumer demand, costs of production, market structure, resource allocation, equilibrium analysis and welfare economics.  Prerequisites: ECO 201 and MTH 134, or equivalent.  3 credits.

ECO 316. Intermediate Macroeconomic Analysis  The essentials of the theory and measurement of economic aggregates and the application of these concepts to major economic problems: employment, growth, business and price fluctuations.  Prerequisites: ECO 205 or 202 and MTH 134 or equivalent.  3 credits.

ECO 335. Current Economic Issues The study of selected economic issues relevant to today's society.  The emphasis is upon the present state of the economy; problems relation to the urban crisis, resource scarcity, welfare, unemployment, inflation, economic growth, and ecology will usually be discussed.  Prerequisites: ECO 201, 202, or equivalent.

ECO 345. Economics of Industrial Organization  An examination of the structure of industries in the U.S. and how that structure affects industry conduct and economic performance.  The course will focus on government attempts to alter the structure, conduct and performance of industries through enactment and enforcement of legislation.  Prerequisite: ECO 301.  3 credits.

ECO 351. Women in the Labor Market This course examines the labor market position of women in the U.S. economy.  Topics include female labor force participation and unemployment, wage differentials, occupational segmentation, sex discrimination, new opportunities, non-market vs. market activities, and government policy.  This interdisciplinary course will incorporate empirical evidence, economic theory, and institutional behavior.  Same course as WST 351. 3 credits.

ECO 380. Health Economics This course will apply economic analysis to the health care sector.  Burgeoning expenditures and the rapidly changing regulatory environment, emphasizing cost containment and competition, have made economic analysis particularly relevant for the study of health care issues.  Prerequisite: ECO 201. 3 credits.

ECO 404. Business and Financial Cycles  An analysis of the nature and causes of the business cycle: past, present, and future.  Investigation concentrates on the measurement of economic fluctuations, pertinent theory, generating factors, stabilizing policies and historical experience, stressing practical applications and forecasting.  Same course as BEC 404.  Prerequisites: ECO 201, 202.  3 credits.

ECO 405. Public Finance  An examination of governmental expenditures, revenues and transfers and their effects on economic activity and income distribution.  Topics that will be covered include: an analysis of the growth, composition and incidence of expenditures and taxes; the individual and corporate income taxes; property, excise and sales taxes; and income maintenance programs.  Same course as FIN 407.  Prerequisites: ECO 202. 3 credits.

ECO 409. History of Economic Ideas An historical and analytical survey of the contributions of the leading economists and the various of economic thought.  Capstone coarse. Prerequisites: ECO 201, 202.  3 credits.

ECO 415. Economics of Global Resources A geographic analysis of world resources: agriculture, mineral, technological and human.  A study of resource patterns, world interdependence in primary commodities, problems of "cartelization" and their implications for industrialization and economic development and well-being of nations.  Same course as GEO 415. 3 credits.

ECO 416. International Economics An analysis of the commercial and  financial relations between the United States and the rest of the world, with in-depth studies of exchange rates, balance of payments and trade restrictions.  The development of the international monetary system will be given special emphasis, including a detailed comparison of floating exchange rates with the workings of the gold standard and the Bretton Woods system.  Prerequisites: ECO 201 and 202; ECO 316 is desirable but not required. 3 credits.

ECO 431. Managerial Economics Applied microeconomic theory in business management, stressing basic decision making models and techniques.  Prerequisites: ECO 201 and ECO 310 or equivalent. 3 credits.

ECO 435. Mathematical Applications in Economics The purpose of this course is to utilize mathematical analysis, e.g., matrix algebra, differential calculus, maximization, and minimization techniques, and integral calculus, to examine topics in economics.  Such topics will include general equilibrium, consumer choice, macroeconomic models, production and pricing theory, inventory control, input-output models, and others.  Prerequisites: ECO 201, 202 and MTH 2323 or equivalent. 3 credits.

ECO 450. Internship in Economics Students are placed in public agencies or private businesses under the direct supervision of an executive of the organization.  Students must consult on a scheduled basis with a faculty member.  A report must be prepared based on this learning experience and approved by both the faculty member and the supervising executive.  Prerequisite:  Approval of department chair.  3 credits.

ECO 460. Seminar in Economic Analysis Covers topics in micro and macro economics, economic history and theory, and contemporary problems; emphasis of a particular seminar to be determined by the instructor.  Prerequisite:  Approval of department chair.  3 credits.

ECO 491-493. Economic Research An introduction to economic research aimed at synthesizing theoretical analysis and empirical investigation.  Research on topics of interest to students and faculty.  Prerequisite:  Approval of department chair.  1-3 credits.

ECO 1101. Introduction to Economics An introduction to the basic elements of Economics. Part of the course investigates the components of modern market economies, including market pricing and production dynamics, consumer demand, producer optimization, differing market structures, business regulation, wage and employment levels, unions, and income inequality. Part of the course investigates national economies, including differing economic systems, unemployment, inflation, the determinants of national output, government policy, money and banking, and international trade. 4 credits.

ECO 4102. Domestic and International Money & Banking. A survey of money and banking institutions with special emphasis on international money and capital markets. How money is created in modern economics. The role of central banks. How foreign exchange markets arise because countries create money independently of each other. Spot and forward foreign exchange markets. Foreign exchange systems in the world today: tied exchange rates, basket currencies, the EMS, mini-devaluation systems and controlled exchanges. World money markets with emphasis on Euro-currencies. World capital markets: Euro-bonds and floating rate bonds. International investment banking practices. Prerequisite: ECO 1101. 4 credits.