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Fall 2007

Undergraduate Course Descriptions for ECON

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ECON 2305. PRINCIPLES OF MACROECONOMICS (3-0) (ECON 2301). Elementary models of the macroeconomy. Measures of aggregate economic activity and unemployment and inflation, money and banking, monetary and fiscal policy, international trade and payments, and applications of theory to society's problems.

ECON 2306. PRINCIPLES OF MICROECONOMICS (3-0) (ECON 2302). The science of choice; develops demand, supply, and the market mechanism for allocating society's scarce resources; industry structure, antitrust regulation, the market for resources, social issues, the environment, international trade, and finance.

ECON 2337. ECONOMICS OF SOCIAL ISSUES (3-0) Economic consequences and solutions of current social issues. Each semester, a series of topics will be covered in line with current events and the instructor's expertise to facilitate an understanding of the economic structure. Will not serve to meet degree requirements for College of Business Administration majors.

ECON 3301. THE ECONOMICS OF HEALTH (3-0) Determinants of health status; impact of economic forces on the health sector; demand for and supply of health services; role of competition; new organizational entities; the changing regulatory climate. Prerequisite: ECON 2306.

ECON 3302. THE ECONOMICS OF CRIME (3-0) Economic analysis of criminal activity and its impact on the allocation of scarce resources; economic models of criminal behavior, optimum allocation of criminal justice resources, public and private sector approaches to deterrence, and current issues such as gun control and drug abuse prevention. Prerequisite: ECON 2306.

ECON 3303. MONEY AND BANKING (3-0) Monetary and banking systems of the United States, including the problems of money and prices, proper organization and functioning of commercial banking and Federal Reserve systems, problems of monetary standards, and credit control. Recent monetary and banking trends. Prerequisite: ECON 2305.

ECON 3304. PUBLIC SECTOR ECONOMICS (3-0) Examines various economic reasons that may justify government involvement in the economy with particular focus on the problems inherent in government intervention. It considers topics such as the efficiency and fairness of alternative taxing systems, the growth and effects of government debt, and public choice (how spending and taxing decisions are made). It analyzes various government programs such as Social Security, health care, expenditure programs for the poor, etc. Prerequisite: ECON 2306.

ECON 3305. LAWS AND ECONOMICS (3-0) A review of the economic effects of laws and legal institutions, including property rights, the common law of contracts and torts, regulations, and crime and punishment. Prerequisite: ECON 2306.

ECON 3306. ECONOMICS OF SPORTS (3-0) Applies basic economic principles to the analysis of professional and amateur sports. Topics covered include fan demand, advertising, team output decisions, league/conference organization, and government and sports. The course is designed to cater to both general business and economics majors. Prerequisite: ECON 2306.

ECON 3310. MICROECONOMICS (3-0) The theory of consumer behavior and the theory of the firm. The theory of production, the theory of cost and price determination, and resource allocation under competition, monopoly, and imperfect competition. Prerequisite: ECON 2306 and 60 credit hours.

ECON 3312. MACROECONOMICS (3-0) Interactions among private sector behavior, government policies, central bank actions and international events, and their effects upon the resulting national living standard, employment, growth, and prices. Particular emphasis upon modeling and the macroeconomy. Prerequisite: ECON 2305 and 60 credit hours.

ECON 3313. INDUSTRIAL ORGANIZATION AND PUBLIC POLICY (3-0) Explains market structure and its relation to strategic behavior, advertising, pricing and product differentiation decisions. Further topics include the organization of the firm, takeovers, mergers and acquisitions, research and development, and the various regulatory controls placed on firms and industries. Prerequisite: ECON 2306.

ECON 3318. INTRODUCTION TO ECONOMETRICS (3-0) The application of economic theory and statistical techniques for the purpose of testing hypotheses and estimating and analyzing economic phenomena. Prerequisite: STAT 3321 or MATH 3313.

ECON 3328. PRINCIPLES OF TRANSPORTATION (3-0) Impact of freight and passenger transport upon individual, business, and governmental decision-making in an evolving, competitive world economy. Prerequisite: ECON 2306.

ECON 3335. ECONOMICS OF PUBLIC POLICIES (3-0) Economic analysis of issues of general interest. A nontechnical application of principles of economics to current topics such as abortion, crime, deficit spending, divorce, education, health care, immigration, politics, recycling, risk and safety, Social Security, sports, and tax policy. Prerequisite: ECON 2306.

ECON 3388. EUROPEAN ECONOMIC HISTORY, 1750 TO PRESENT (3-0) The English Industrial Revolution, Europe's slow transformation before 1850, and large-scale industry, banking, transportation, and commerce in the later 19th and 20th centuries. Topics for the 20th century include depression, war, postwar economic integration, and the collapse of communism. Prerequisite: ECON 2305.

ECON 4191. STUDIES IN ECONOMICS (1-0) Advanced studies, on an individual basis, in the various fields of economics. Prerequisite: ECON 2306 and 90 credit hours and departmental permission.

ECON 4291. STUDIES IN ECONOMICS (2-0) Advanced studies, on an individual basis, in the various fields of economics. Prerequisite: ECON 2306 and 90 credit hours and departmental permission.

ECON 4302. ENVIRONMENTAL ECONOMICS (3-0) Economic forces that influence the quality of the environment; economic theory and environmental management; regulatory requirements for economic impact analysis; international issues including trade and implications for Third World economies. Prerequisite: ECON 2306.

ECON 4306. COMPARATIVE ECONOMIC SYSTEMS (3-0) The differences between capitalism, liberal socialism, and communism. Evaluation of the performance and efficiency characteristics of each system. Consideration is also given to the obstacles that confront former communist societies seeking to reorganize, and to the possible forms of economic reconstruction the emerging nations may undertake. Prerequisite: ECON 2306.

ECON 4311. ECONOMICS FOR MANAGERS (3-0) This class studies the decision-making process involving the economic activities of a firm. It provides the tools that help managers choose the best solution among all possible ones to achieve the firm's goal. The class is real-world oriented and examines topics such as demand, costs, production, market structure and market power, and pricing decisions. Prerequisite: ECON 2306 and 60 credit hours.

ECON 4319. ECONOMIC GROWTH AND THE MULTINATIONAL CORPORATION (3-0) The economic effects of the multinational corporations on the world economy: their effects on long-term capital flows, world production, transfer of technology, and the developing countries. Prerequisite: ECON 2305 and ECON 2306.

ECON 4321. INTERNATIONAL TRADE (3-0) Explanations of why nations trade and what they trade. The economics and politics of protection of domestic industries (tariffs, quotas). U.S. and foreign trade policies. Regional blocks (NAFTA, EEC). International factor movements (the role of the multinational firm and labor migration). Prerequisite: ECON 2306.

ECON 4322. INTERNATIONAL FINANCE (3-0) The nature and instruments of international payments. International financial institutions and arrangements. Exchange rate, balance of payment, and income determination theories. Prerequisite: ECON 2305.

ECON 4323. INTRODUCTION TO MATHEMATICAL ECONOMICS (3-0) Exposes students to certain basic mathematical concepts and methods and relates these techniques to various types of economic analysis. Covers the mathematical methods used in static and comparative-static analysis, optimization problems, and simple dynamic analysis. Prerequisite: MATH 1316 and ECON 3310 and ECON 3312.

ECON 4324. MONETARY AND FISCAL POLICY (3-0) The effects of money on production and national income; quantity and commodity theories of money; various theories of interest rates; instruments and policies of Federal Reserve monetary action; proposals for monetary reform. Central bank systems. Prerequisite: ECON 2306 and ECON 3303 and 60 credit hours.

ECON 4325. ECONOMIC FLUCTUATIONS AND FORECASTING (3-0) Develops measures of economic activity, discusses history and competing theories of the business cycle, the role of money and interest rates; business forecasting using leading and lagging indicators, time series analysis, and econometric techniques. Prerequisites: ECON 2305 and 60 credit hours.

ECON 4330. LABOR ECONOMICS (3-0) Application of economic principles to labor topics such as the demand for marriage, the demand for children, the economics of beauty, the economics of highly paid sports and entertainment stars, the effects of immigration on U.S. wages and employment, workplace discrimination, the effects of affirmative action policies, and the effects of minimum wage legislation. Prerequisite: ECON 2306.

ECON 4331. SEMINAR IN ECONOMICS (3-0) Readings and discussions of special topics in economics. Prerequisite: 60 or 90 credit hours and consent of instructor. May be repeated for credit with consent of department chair.

ECON 4391. STUDIES IN ECONOMICS (3-0) Advanced studies, on an individual basis, in the various fields of economics. Prerequisite: ECON 2306 and 90 credit hours and departmental permission.

ECON 4393. ECONOMICS INTERNSHIP (3-0) Practical training in economics. Analysis of theory applied to real life situations. May be used as an advanced business elective only; graded on a pass/fail basis. No credit will be given for previous experience or activities. May not be repeated for credit. Prerequisite: Junior standing and consent of department internship advisor.

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