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Courses
EC 103. INTRODUCTION TO MACROECONOMICS 4
An introduction to national income analysis, money and banking, and balance of payments. The course deals with theory and policies of a mixed economy, using the United States as a prime example. Emphasis is placed upon the determination of public policies to solve the problems of unemployment, inflation, and stable economic growth. Prerequisite: QR1. (Fulfills QR2 and social sciences requirements.) The Department
EC 103H. INTRODUCTION TO MACROECONOMICS: HONORS 4
An accelerated introductory course in macroeconomics, the branch of economics that studies the macroeconomic implications of individual decisions to produce and consume, as well as the necessity for public intervention when these markets fail. The course will cover topics such as economic growth, unemployment, inflation, monetary theory, monetary and fiscal policies, and international finance and financial crises. Students will be expected to learn how to access and analyze technical government data on each of the topics to be explored and to write a major research paper employing this data and the theory of macroeconomics. This course is well-suited for students with good analytical and mathematical skills and a strong interest in economics. While no prior economics background is required, this course will move at a faster pace than non-honors sections of EC103. Prerequisite: QR1. (Fulfills QR2 and social sciences requirement.) The Department
EC 104. INTRODUCTION TO MICROECONOMICS 4
An introduction to the study of markets. The course develops the basic economic model of supply and demand to illustrate how choices regarding the production and distribution of goods and services are made by firms and households in a market economy. The course also examines the possibility of market failure and the appropriate government response. Policy topics may include poverty and homelessness, health care, the environment, antitrust, discrimination, international trade, unions, and minimum wage laws. Prerequisite: QR1. (Fulfills QR2 and social sciences requirements.) The Department
EC 104H. INTRODUCTION TO MICROECONOMICS: HONORS 4
An accelerated introductory course in microeconomics, the branch of economics that studies how households and firms make decisions and how they interact in markets. The course will cover topics such as supply and demand analysis, consumer choice models, government intervention in markets, market outcomes under perfect competition, monopoly and oligopoly, market failure, and game theory. Students will also investigate several of the traditional applied fields of microeconomics, such as public economics, environmental economics, industrial organization, and international trade. It will include more technical analysis of economic models and place an emphasis on writing. This course is well-suited for students with good analytical and mathematical skills and a strong interest in economics. While no prior economics background is required, this course will move at a faster pace than non-honors sections of EC104. Prerequisite: QR1. (Fulfills QR2 and social sciences requirement.) The Department
EC 235. MACROECONOMIC THEORY 4
A study of the forces determining the levels of national income and employment, with emphasis upon public policy to attain basic economic goals such as economic growth, stable prices, and full employment. The course also addresses issues concerning international macroeconomic relations. Prerequisites: EC103 and 104. The Department
EC 236. MICROECONOMIC THEORY 4
Develops the basic models of behavior that economists use to study market relations. Discussion of how consumer choices determine demand and how profit-maximizing firms, operating in different market structures, determine supply. Within this framework, the course considers a variety of real-world problems, which may include job market discrimination, business pricing policy, minimum wages, taxation, antitrust policy, international trade, and environmental and safety regulation. Prerequisites: EC103 and 104. The Department
EC 237. STATISTICAL METHODS 4
An introduction to summarizing and interpreting quantitative information: central tendency and dispersion, probability, significance tests, regression and correlation, time series analysis, and the use of index numbers. An introduction to the use of the computer as a tool for handling large amounts of data. Prerequisites: QR1, EC103, 104, or permission of the instructor; prerequisites may be waived for interdepartmental business majors by permission of the instructor. (Fulfills QR2 requirement.) The Department
EC 261. INTERMEDIATE TOPICS IN ECONOMICS 3
This course will give students an opportunity to study one or a few related current topics in economics at an intermediate level. While the topic(s), instructor, and specific prerequisites will vary each time the course is offered, there will be at least one 100-level course required. May be repeated once with permission of department chair. Prerequisite: EC103 and/or 104. The Department
EC 314. INTERNATIONAL ECONOMICS 3
An analysis of international economic relations with an emphasis on policy issues. Topics include: commodity composition and direction of trade, tariffs, U.S. commercial policy, international and regional trade agreements, and international financial relations. Prerequisites: EC103, 104 and 236. The Department
EC 316. ECONOMICS OF DEVELOPMENT 3
The theory and practice of economic development in the third world. Topics include: analysis of world income distribution and causes of world income inequalities; the contribution of social change, politics, economics and economic planning to the process of development; means of improving the quantity and quality of domestic and international economic resources; methods for improving sectoral output and productivity; policies for redistribution and basic needs and for combating the equity-efficiency trade-off in development strategies. Prerequisites: EC235. M. Odekon
EC 317. THE ECONOMICS OF EUROPEAN INTEGRATION 3
Application of economic theory to key economic institutions and policies of the European Union. Students analyze the process of European economic integration, mainly: the degree of economic integration achieved with the common market and the European Monetary System prior to 1991; the design of and experience with the Economic and Monetary Union regime currently shaping policies in EW countries that have adopted the euro; the changes related to the latest EU enlargements, both for old and new members. Students will investigate questions such as regional trade integration, currency union, regional and global ramifications of European integration and the euro. Prerequisites: EC235 and 236, or permission of instructor. Prerequisites may be waived for international affairs majors and minors by permission of instructor. J. Bibow
EC 319. ECONOMICS OF INCOME DISTRIBUTION AND POVERTY 3
The definition and measurement of economic inequality and poverty and the investigation of economic factors determining the distribution of income and wealth. On the macro level, the course examines the dynamics of input markets, including productivity and technological change. The micro level focuses on the personal distribution of income and poverty in the United States. Alternative theories are examined. Other topics include the role of the government through policies such as taxes, transfers, and public education. Prerequisites: EC235 and 236 or permission of instructor. N. Chiteji, M. Odekon
EC 321. LABOR ECONOMICS 3
Analysis of labor as a human activity and an economic resource. Critical examination of the structure and functioning of the American labor market. Topics include determinants of labor force participation, the level and structure of wages, and the allocation and utilization of workers; the roles of labor unions and collective bargaining; and the changing situations of women and minorities in the labor market. Prerequisites: EC236, 237. N. Chiteji
EC 334. INTERNATIONAL POLITICAL ECONOMY 3
An examination of the interplay of international economics and politics. The course contrasts mainstream theories of international trade and investment with theories highlighting class relations, power, and market imperfections. Among the subjects to be addressed are: multinational corporations, capital flight, theories of imperialism, and the prospects for national economic policy. Prerequisite: EC235 or permission of instructor. L. Vargha
EC 335. ADVANCED MACROECONOMIC THEORY AND POLICY 3
Domestic monetary and fiscal policies of advanced capitalist economies with emphasis on the United States' historical experience. Topics include: business cycle theories; Neoclassical, Keynesian, and post-Keynesian theories of money and the state; industrial policy, monetary and fiscal intervention considered theoretically and historically. Prerequisite: EC235. R. Rotheim
EC 336. INDUSTRIAL ORGANIZATION AND PERFORMANCE OF ECONOMY 3
A study of changing market structures in the United States economy and their impact on its performance. The specific topics covered in this course include the determinants of market structure and oligopolistic behaviors of large corporations in such areas as pricing, profits, and technological innovations. Also considered are public policies concerning monopolistic and oligopolistic business enterprises. Prerequisite: EC236. The Department
EC 339. APPLIED ECONOMETRICS 3
Theory and practice of econometrics applied to economic models. Topics include: econometric techniques for analyzing economic relationships, methods for handling economic data, empirical testing of theoretical models, and techniques for developing testable models. Prerequisites: EC235 or 236; 237. M. Das, R. Jones
EC 343. ENVIRONMENTAL AND RESOURCE ECONOMICS 3
Analysis of contemporary environmental and resource problems (e.g., air, water, noise and aesthetic pollution, extinction of animal and plant species) through the use of economic theories and techniques of evaluation. Environmental policies dealing with these problems will also be considered. Prerequisite: EC236. M. Das, L. Vargha
EC 344. PUBLIC FINANCE 3
Study of government expenditures and taxation policies from both institutional and theoretical perspectives. The course will focus on the economic roles of federal, state, and local governments in implementing decisions about defense spending, social programs, income, sales, property, and Social Security taxes. Prerequisite: EC236. The Department
EC 345. MONETARY THEORY AND POLICY 3
Foundations of money, financial markets, and central banking within a capitalist framework. Theoretical emphasis will be placed on monetarist and post Keynesian explanations for money, interest, employment, and prices. Policy discussions will focus on the relationship between money market instruments and central bank policies in the context of the above theoretical frameworks. A major term paper, which compares the recent monetary policies of the Federal Reserve System with those of another central bank, is expected of all students. Prerequisite: EC235. Open only to juniors and seniors. R. Rotheim, J. Bibow
This course examines the ways in which the economic experiences of women in the United States differ from those of men. Topics include labor markets and wages, discrimination, poverty, the economics of the household, and the economics of reproduction. The particular situations of various ethnic groups and occupational groups are discussed. The economic experiences of women are analyzed in their social, political, and historical context. Prerequisite: EC104. The Department
EC 355. HISTORY OF ECONOMIC THOUGHT 3
The development of Western economic thinking from Adam Smith to the present, stressing in its historical context the conflict between the mainstream of economic thought and important alternatives such as the Marxist, institutional, and anarchist traditions. Emphasis is on the works of a few major writers. Prerequisites: EC235 and 236, or permission of instructor. R. Rotheim
EC 361. ADVANCED TOPICS IN ECONOMICS 3
This course will give students an opportunity to study one or a few related current topics in economics at an advanced level. While the topic(s), instructor, and specific prerequisites will vary each time the course is offered, there will be at least one 200-level course required. May be repeated with permission of department chair. The Department
EC 371, 372. INDEPENDENT STUDY 3, 3
An opportunity for qualified students to engage in in-depth reading and research in any field of economics. Project should be based on work in a 300-level course the student has taken. Each student works closely with a faculty advisor and participates in a weekly independent study seminar. Prerequisite: permission of the department. The Department
EC 375. SENIOR SEMINAR 3
A capstone experience for senior economics majors, this course builds on the theoretical framework developed in other economics courses to analyze current economic-policy issues. Specific topics differ from year to year. Representative topics include inequality in the U.S., the Social Security debate, unemployment and public policy, the economics of higher education, and economic and political reforms in Mexico. Prerequisite: EC235 or 236. The Department
EC 376. SENIOR THESIS 3
Advanced research paper in economics. Open to all seniors with departmental approval. All completed theses must be defended before the economics faculty. Prerequisite: EC235 or 236. The Department
EC 399. INTERNSHIP IN ECONOMICS 3
Professional experience at an advanced level for juniors and seniors with substantial academic experience in economics. With faculty sponsorship and department approval, students may extend their educational experience into areas such as economic research and consulting, forecasting, regulation, and policy analysis. Work will be supplemented by appropriate written assignments. Only three semester-hour credits may count toward the requirements for the major, and none toward the minor. Prerequisites: two of the following: EC235, 236, 237, and at least two 300-level economics courses.
EC 103. INTRODUCTION TO MACROECONOMICS 4
An introduction to national income analysis, money and banking, and balance of payments. The course deals with theory and policies of a mixed economy, using the United States as a prime example. Emphasis is placed upon the determination of public policies to solve the problems of unemployment, inflation, and stable economic growth. Prerequisite: QR1. (Fulfills QR2 and social sciences requirements.) The Department
EC 103H. INTRODUCTION TO MACROECONOMICS: HONORS 4
An accelerated introductory course in macroeconomics, the branch of economics that studies the macroeconomic implications of individual decisions to produce and consume, as well as the necessity for public intervention when these markets fail. The course will cover topics such as economic growth, unemployment, inflation, monetary theory, monetary and fiscal policies, and international finance and financial crises. Students will be expected to learn how to access and analyze technical government data on each of the topics to be explored and to write a major research paper employing this data and the theory of macroeconomics. This course is well-suited for students with good analytical and mathematical skills and a strong interest in economics. While no prior economics background is required, this course will move at a faster pace than non-honors sections of EC103. Prerequisite: QR1. (Fulfills QR2 and social sciences requirement.) The Department
EC 104. INTRODUCTION TO MICROECONOMICS 4
An introduction to the study of markets. The course develops the basic economic model of supply and demand to illustrate how choices regarding the production and distribution of goods and services are made by firms and households in a market economy. The course also examines the possibility of market failure and the appropriate government response. Policy topics may include poverty and homelessness, health care, the environment, antitrust, discrimination, international trade, unions, and minimum wage laws. Prerequisite: QR1. (Fulfills QR2 and social sciences requirements.) The Department
EC 104H. INTRODUCTION TO MICROECONOMICS: HONORS 4
An accelerated introductory course in microeconomics, the branch of economics that studies how households and firms make decisions and how they interact in markets. The course will cover topics such as supply and demand analysis, consumer choice models, government intervention in markets, market outcomes under perfect competition, monopoly and oligopoly, market failure, and game theory. Students will also investigate several of the traditional applied fields of microeconomics, such as public economics, environmental economics, industrial organization, and international trade. It will include more technical analysis of economic models and place an emphasis on writing. This course is well-suited for students with good analytical and mathematical skills and a strong interest in economics. While no prior economics background is required, this course will move at a faster pace than non-honors sections of EC104. Prerequisite: QR1. (Fulfills QR2 and social sciences requirement.) The Department
EC 235. MACROECONOMIC THEORY 4
A study of the forces determining the levels of national income and employment, with emphasis upon public policy to attain basic economic goals such as economic growth, stable prices, and full employment. The course also addresses issues concerning international macroeconomic relations. Prerequisites: EC103 and 104. The Department
EC 236. MICROECONOMIC THEORY 4
Develops the basic models of behavior that economists use to study market relations. Discussion of how consumer choices determine demand and how profit-maximizing firms, operating in different market structures, determine supply. Within this framework, the course considers a variety of real-world problems, which may include job market discrimination, business pricing policy, minimum wages, taxation, antitrust policy, international trade, and environmental and safety regulation. Prerequisites: EC103 and 104. The Department
EC 237. STATISTICAL METHODS 4
An introduction to summarizing and interpreting quantitative information: central tendency and dispersion, probability, significance tests, regression and correlation, time series analysis, and the use of index numbers. An introduction to the use of the computer as a tool for handling large amounts of data. Prerequisites: QR1, EC103, 104, or permission of the instructor; prerequisites may be waived for interdepartmental business majors by permission of the instructor. (Fulfills QR2 requirement.) The Department
EC 261. INTERMEDIATE TOPICS IN ECONOMICS 3
This course will give students an opportunity to study one or a few related current topics in economics at an intermediate level. While the topic(s), instructor, and specific prerequisites will vary each time the course is offered, there will be at least one 100-level course required. May be repeated once with permission of department chair. Prerequisite: EC103 and/or 104. The Department
EC 314. INTERNATIONAL ECONOMICS 3
An analysis of international economic relations with an emphasis on policy issues. Topics include: commodity composition and direction of trade, tariffs, U.S. commercial policy, international and regional trade agreements, and international financial relations. Prerequisites: EC103, 104 and 236. The Department
EC 316. ECONOMICS OF DEVELOPMENT 3
The theory and practice of economic development in the third world. Topics include: analysis of world income distribution and causes of world income inequalities; the contribution of social change, politics, economics and economic planning to the process of development; means of improving the quantity and quality of domestic and international economic resources; methods for improving sectoral output and productivity; policies for redistribution and basic needs and for combating the equity-efficiency trade-off in development strategies. Prerequisites: EC235. M. Odekon
EC 317. THE ECONOMICS OF EUROPEAN INTEGRATION 3
Application of economic theory to key economic institutions and policies of the European Union. Students analyze the process of European economic integration, mainly: the degree of economic integration achieved with the common market and the European Monetary System prior to 1991; the design of and experience with the Economic and Monetary Union regime currently shaping policies in EW countries that have adopted the euro; the changes related to the latest EU enlargements, both for old and new members. Students will investigate questions such as regional trade integration, currency union, regional and global ramifications of European integration and the euro. Prerequisites: EC235 and 236, or permission of instructor. Prerequisites may be waived for international affairs majors and minors by permission of instructor. J. Bibow
EC 319. ECONOMICS OF INCOME DISTRIBUTION AND POVERTY 3
The definition and measurement of economic inequality and poverty and the investigation of economic factors determining the distribution of income and wealth. On the macro level, the course examines the dynamics of input markets, including productivity and technological change. The micro level focuses on the personal distribution of income and poverty in the United States. Alternative theories are examined. Other topics include the role of the government through policies such as taxes, transfers, and public education. Prerequisites: EC235 and 236 or permission of instructor. N. Chiteji, M. Odekon
EC 321. LABOR ECONOMICS 3
Analysis of labor as a human activity and an economic resource. Critical examination of the structure and functioning of the American labor market. Topics include determinants of labor force participation, the level and structure of wages, and the allocation and utilization of workers; the roles of labor unions and collective bargaining; and the changing situations of women and minorities in the labor market. Prerequisites: EC236, 237. N. Chiteji
EC 334. INTERNATIONAL POLITICAL ECONOMY 3
An examination of the interplay of international economics and politics. The course contrasts mainstream theories of international trade and investment with theories highlighting class relations, power, and market imperfections. Among the subjects to be addressed are: multinational corporations, capital flight, theories of imperialism, and the prospects for national economic policy. Prerequisite: EC235 or permission of instructor. L. Vargha
EC 335. ADVANCED MACROECONOMIC THEORY AND POLICY 3
Domestic monetary and fiscal policies of advanced capitalist economies with emphasis on the United States' historical experience. Topics include: business cycle theories; Neoclassical, Keynesian, and post-Keynesian theories of money and the state; industrial policy, monetary and fiscal intervention considered theoretically and historically. Prerequisite: EC235. R. Rotheim
EC 336. INDUSTRIAL ORGANIZATION AND PERFORMANCE OF ECONOMY 3
A study of changing market structures in the United States economy and their impact on its performance. The specific topics covered in this course include the determinants of market structure and oligopolistic behaviors of large corporations in such areas as pricing, profits, and technological innovations. Also considered are public policies concerning monopolistic and oligopolistic business enterprises. Prerequisite: EC236. The Department
EC 339. APPLIED ECONOMETRICS 3
Theory and practice of econometrics applied to economic models. Topics include: econometric techniques for analyzing economic relationships, methods for handling economic data, empirical testing of theoretical models, and techniques for developing testable models. Prerequisites: EC235 or 236; 237. M. Das, R. Jones
EC 343. ENVIRONMENTAL AND RESOURCE ECONOMICS 3
Analysis of contemporary environmental and resource problems (e.g., air, water, noise and aesthetic pollution, extinction of animal and plant species) through the use of economic theories and techniques of evaluation. Environmental policies dealing with these problems will also be considered. Prerequisite: EC236. M. Das, L. Vargha
EC 344. PUBLIC FINANCE 3
Study of government expenditures and taxation policies from both institutional and theoretical perspectives. The course will focus on the economic roles of federal, state, and local governments in implementing decisions about defense spending, social programs, income, sales, property, and Social Security taxes. Prerequisite: EC236. The Department
EC 345. MONETARY THEORY AND POLICY 3
Foundations of money, financial markets, and central banking within a capitalist framework. Theoretical emphasis will be placed on monetarist and post Keynesian explanations for money, interest, employment, and prices. Policy discussions will focus on the relationship between money market instruments and central bank policies in the context of the above theoretical frameworks. A major term paper, which compares the recent monetary policies of the Federal Reserve System with those of another central bank, is expected of all students. Prerequisite: EC235. Open only to juniors and seniors. R. Rotheim, J. Bibow
EC 346. INTERNATIONAL TRADE 3
An investigation of the role and importance of international economic relations with a focus on trade. Students will be provided a background in the theory of international trade and how various trade theories relate to observed trade flows and international resource movements. Policy debates on free trade versus protectionism are central to the course. Students will also be introduced to relevant international organizations and trade-related topics including exchange rate policies and trade finance. Prerequisite: EC235, EC236. J. Bibow
EC 347. INTERNATIONAL FINANCE 3
An investigation of the causes and effects of international financial flows. Students will learn a theoretical background that will be used to investigate key analytical and policy issues raised by international monetary relations under globalized finance. Students will also study the operations of international financial markets and institutions and explore the two-way relation between international transactions and macroeconomic policy by concentrating on recent and current events.. Prerequisite:EC235, EC236. J. Bibow
This course examines the ways in which the economic experiences of women in the United States differ from those of men. Topics include labor markets and wages, discrimination, poverty, the economics of the household, and the economics of reproduction. The particular situations of various ethnic groups and occupational groups are discussed. The economic experiences of women are analyzed in their social, political, and historical context. Prerequisite: EC104. The Department
EC 355. HISTORY OF ECONOMIC THOUGHT 3
The development of Western economic thinking from Adam Smith to the present, stressing in its historical context the conflict between the mainstream of economic thought and important alternatives such as the Marxist, institutional, and anarchist traditions. Emphasis is on the works of a few major writers. Prerequisites: EC235 and 236, or permission of instructor. R. Rotheim
EC 361. ADVANCED TOPICS IN ECONOMICS 3
This course will give students an opportunity to study one or a few related current topics in economics at an advanced level. While the topic(s), instructor, and specific prerequisites will vary each time the course is offered, there will be at least one 200-level course required. May be repeated with permission of department chair. The Department
EC 371, 372. INDEPENDENT STUDY 3, 3
An opportunity for qualified students to engage in in-depth reading and research in any field of economics. Project should be based on work in a 300-level course the student has taken. Each student works closely with a faculty advisor and participates in a weekly independent study seminar. Prerequisite: permission of the department. The Department
EC 375. SENIOR SEMINAR 3
A capstone experience for senior economics majors, this course builds on the theoretical framework developed in other economics courses to analyze current economic-policy issues. Specific topics differ from year to year. Representative topics include inequality in the U.S., the Social Security debate, unemployment and public policy, the economics of higher education, and economic and political reforms in Mexico. Prerequisite: EC235 or 236. The Department
EC 376. SENIOR THESIS 3
Advanced research paper in economics. Open to all seniors with departmental approval. All completed theses must be defended before the economics faculty. Prerequisite: EC235 or 236. The Department
EC 399. INTERNSHIP IN ECONOMICS 3
Professional experience at an advanced level for juniors and seniors with substantial academic experience in economics. With faculty sponsorship and department approval, students may extend their educational experience into areas such as economic research and consulting, forecasting, regulation, and policy analysis. Work will be supplemented by appropriate written assignments. Only three semester-hour credits may count toward the requirements for the major, and none toward the minor. Prerequisites: two of the following: EC235, 236, 237, and at least two 300-level economics courses.
