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Economics

This is an historical sampling of translated course descriptions for economics courses that have been taken by previous program participants outside of the Skidmore Center. This list should be used as a guide. Course numbers listed are not guaranteed and require department approval. Courses listed are not guaranteed to be offered during your semester in Paris.

All courses at the American Business School are taught in English unless otherwise indicated.

JPEC103 INTRODUCTION TO MACROECONOMICS (3)
(American Business School - ECO 110 Priniciples of Macroeconomics)
Offered in fall and spring

A study of modern economic societies: the collective economic roles of households, businesses, governments, and financial (as well as other) institutions; and of the aggregate economic problems which society faces.


JPEC104 INTRODUCTION TO MICROECONOMICS (3)
(American Business School - ECO 120 Priniciples of Microeconomics)
Offered in fall and spring

This is a premiliminary course which investigates modern economic theory. It covers the economic role of consumers, businesses, governments, banks, and other institutions.
It includes a thorough introduction to economic analysis, which aids the understanding of economic behavior.

COURSE OBJECTIVES:
To introduce students to the basic of microeconomics. The student learns about the theory of a firm and its activity under various types of competitive situations. The student also learns about consumer behavior under certain market condititions.

INSTRUCTIONAL METHODOLOGY:
The course consists of class lectures and outside reading assignments. Students will be expected to do class presentations on various assignments.

Topics covered in class:

  • Consumer Choice: Production Cost
  • Supply under Perfect Competitive Conditions
  • Theory of Monopoly
  • Industrial Organization, Monopolistic Competition & Oligopoly
  • Pricing in Resource Markets: Markets for Capital & Natural Resources
  • The Economics of Information & Uncertainty
  • Entrepreneurship and the Market Process
  • Antitrust & regulation, Externalities & Environmental Policy, Public Policy & labor markets, Unions, discrimination & equal pay, the problem of poverty


JPEC235 MACROECONOMIC THEORY (3)

(American Business School - ECO 210 Macroeconomic Analysis)
Offered in the spring only

This course builds upon the foundations put into place in JPEC 103. Economic problems facing society are studied more closely. The problems of inflation and unemployment are analyzed and international monetary system is examined.

Course Objectives & Instructional Methodology:
To provide students with a detailed analysis of applications of macroeconomic problems. Several major topics are chosen for review and are studied in-depth. The course consists of class lectures and outside reading assignments. Students will be expected to do class presentations on various assignments. Will be covered in class:

  • Macroeconomy: Growth & fluctuations
  • Measuring Economic Performance: Output and Income
  • Monitor the Economy; The Long-Run Growth Models
  • Effects of Fiscal & Monetary Policis in the Long Run
  • Short Run Fluctuations & Spending Balance
  • Financial Markets & Aggregate Demand
  • Consumption Demand; Investment Demand
  • Foreign Trade & Exchange Rate; Government Budget Deficit
  • Monetary System
  • Labor Market & Flexible Price Theories of Fluctuation
  • The Firm & the Labor Market with Price & Wage Rigidities
  • The World Economy

JPEC236 MICROECONOMIC THEORY (3)
(American Business School - ECO 220 Intermediate Microeconomic Analysis)
Offered in the fall only

This course builds upon the foundations put into place in JPEC 104. It includes topics of current interest and incorporates the latest research in economic modeling.

COURSE OBJECTIVES:
To provide students with the knowledge and practical methods to apply the general principles of microeconomics to business problems.

INSTRUCTIONAL METHODOLOGY:
The course consists of class lectures and outside reading assignments. Students will be expected to do class presentations on various assignments. Will be covered in class:

  • The Basics of Supply & Demand
  • Consumer Behavior
  • Individual & Market Demand
  • Choice Under Uncertainty
  • Production ; the Cost of production
  • Profit Maximization & Competitive Supply
  • Analysis of Competitive Markets
  • Market Power : Monopoly & Monopsony
  • Pricing with Market Power
  • Monopolistic Competition and Oligopoly
  • Game Theory & Competitive Strategy


JPEC361 Advanced Topics in Economics (3)
(American Business School - ECO 324 Money & Banking)
Offered in the fall only

In this course, the student will acquire an understanding of the basis for monetary systems and the role played by banks in the creation and circulation of money. As this is a topic which is under constant evolution, current events in the financial world will be used to illustrate the various issues facing the banking industry in both a domestic and international context. Topics will include disintermediation, the origins and functions of the Federal Reserve System, central bank and EC controls, money-laundering regulations and the role of the global banking industry in LDC's.

Will be covered in class:

  • Introduction: History of money and the origin of banks
  • Basic Financial Institutions, Role of Central Banks
  • Federal Reserve System
  • Development of Monetary Theory; Financial NGO's
  • Payment Systems: Domestic & International
  • Interest Rates; FX Markets
  • Deposits/Reserves; Lending Activities
  • Reading a bank's financial statements; Bank failures - causes and effects
  • Financial Markets: stocks, bonds, futures, options
  • Use and misue of derivative instruments

INTERNATIONAL ECONOMICS (3)
(American Business School - ECO 450 International Economics)
Offered in fall and spring

The first part of the course examines classical and modern international economic theory. The second half will apply the theoretical framework to current world international trade issues such as fiscal and monetary policy, exchange rate systems and the international monetary system.

The course consists of class lectures, individual/group presentations on various assignments. Will be covered in class:

  • Introduction : Theory of Comparative Advantage
  • International Trade & Equilibrium
  • Factor Endowments, Complementary Trade
  • Trade Restrictions
  • Economic Integration : Customs Unions
  • International Trade & Economic Development
  • International Resource Movements/Multinationals
  • Foreign Exchange
  • Balance of Payments
  • Price Adjustment Mechanism
  • Income Adjustment Mechanism
  • International Monetary System