Academics

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Course Catalog

ECONOMICS

Requirements for a minor in economics include EC 281S Principles of Microeconomics, EC 282S Principles of Macroeconomics, and three upper level economics electives. One of the electives should be from a group of core micro or macro courses including EC 381 Intermediate Microeconomic Theory, EC 382 Intermediate Macroeconomics, EC 386 Money, Banking, & Financial Institutions, and EC 384 Managerial Economics.

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EC 201S: Introductory Economics of the Environment
Introduction to economic perspective of US and global environmental policy issues. Topics include air and water pollution, climate change, biodiversity, trade and environment, toxic waste. (Does not count towards Major or Minor in Economics.)

EC 281S: Principles of Microeconomics
Price theory, operation of market system. Industrial structure and pricing under different competitive structures. Required of all students majoring in economics.

EC 282S: Principles of Macroeconomics
Main sectors of the economy (consumers, business and government) focusing on policy. Monetary and fiscal policy, inflation, recession, balance of payments. Required for all students majoring in economics.

EC 301S: Leadership: The Human Side of Economics
Experiential exercises, readings, and class discussion designed to investigate and challenge behavioral assumptions of contemporary economics paradigm. Leadership theories will be explored to facilitate a broader understanding of human organizational behavior and optimal decision making.

EC 370: Industrial Organization
Examine various models of firm behavior in various industrial organization structures (competition, monopoly, oligopoly, conglomerate), both foreign and domestic. Prerequisite: EC 281S.

EC 371: Economics of Labor Markets
The role of labor in the economic system. Division of labor, job segregation, wage theory, relationship among work, family, household production. Prerequisite: EC 281S.

EC 373: Natural Resource Economics
Role of economic theory in analyzing and evaluating natural resource policy issues and sustainable development. Developing models of optimal use of resources: energy, fisheries, water, forests, agriculture, biodiversity. Prerequisite: EC 281S or EC 201S.

EC 374: Environmental Economics
Application of microeconomic principles to contemporary environmental policy issues such as air and water pollution, global climate change, and toxic waste. Exploration of cost benefit analysis and methods to value environmental amenities. Prerequisite: EC 281S or EC 201S.

EC 381: Intermediate Microeconomic Theory
Continuation of EC 281S. Theoretical basis for consumer demand, firm production and costs, pricing and output decisions of firms within market structures. Algebraic and graphical models. Explore empirical techniques for estimating demand. Prerequisite: EC 281S.

EC 382: Intermediate Macroeconomics
Continuation of EC 282S. Determinants of aggregate demand and supply, using dynamic and static models of analysis. How to use an understanding of economic analysis to achieve policy objectives and understand trade-offs. Prerequisites: EC 282S and MN 260M.

EC 384: Managerial Economics
Applied economic theory, mathematics and statistics in business decision making. Optimization techniques under conditions of uncertainty. Selecting the "best" solutions to business problems. Prerequisites: EC 281S and MN 260M.

EC 386: Money, Banking, and Financial Institutions
History and development of monetary system and financial structure. Money creation and influence on macroeconomic activity. Monetary policy implications of regulatory agencies with specific emphasis on the Federal Reserve. Prerequisite: EC 282S.

EC 388: Economic Development
Factors shaping development, underdevelopment of Africa, Asia, Latin America. Also social, political aspects of economic development. Land reform, nature management, appropriate technologies, industrialization, rural-urban migration, foreign investment, aid, trade. Prerequisites: one of EC 281S, EC 282S, or EC 201S.

EC 460: Econometrics
Introduction to applied econometrics including analysis of dummy variables, violations of classical assumptions. Prerequisite: MN 260M.

EC 480: International Economics: Foreign Exchange
Theory, currency markets, balance of payments, government macrostabilization policies and exchange rate systems. Bretton Woods, European Monetary System, G5 negotiations, LDC debt, Mexican/Asian crises, international monetary reform. Prerequisites: EC 282S.

EC 481: International Economics: Trade
Theory, government policies, free trade, protectionism, U.S. commercial policy, GATT and WTO talks, US-Japan-EEC trade issues, developing countries, solutions for international trade problems. Prerequisite: EC 281S.

EC 498: Comprehensive Examination

EC 499: Senior Thesis

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