Course Descriptions – Economics

ECO 211 (3) Principles of Macroeconomics. This course will provide an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed, as are the public debt and international economic issues. We introduce basic models of macroeconomics. (F, S, Sum)

ECO 212 (3) Principles of Microeconomics. This course will provide an overview of microeconomic issues: price determination, supply, and demand.  Of primary importance are the behavior of individuals/households and firms, and their impact on prices, and the supply and demand for goods and services.  We introduce basic models of microeconomics. (F, S, Sum)

ECO 311 (3) Intermediate Macroeconomic Theory. Prerequisites: ECO 211 and 212

This course develops a general equilibrium theory of the economy at the intermediate level.  Topics include the aggregate demand and supply model, the IS-LM model, unemployment, international trade, economic growth, and monetary and fiscal policies. We further build upon models introduced in ECO 211. (F)

ECO 312 (3) Intermediate Microeconomic Theory. Prerequisites: ECO 211 and 212. This class presents microeconomic theory and applications of consumer and producer behavior at an intermediate level.  This course focuses on the following topics: basic theory of consumer behavior; production and costs; partial equilibrium analysis of pricing in competitive and monopolistic markets; general equilibrium; welfare economics; and externalities. We further build upon models introduced in ECO 212. (S)

ECO 313 (3) Labor Economics. Prerequisites: ECO 211 and 212.

The course is an introduction to the field of Labor Economics.  We expect that this course will enable students to think critically about research and public policy issues. The emphasis is on applied microeconomics and empirical analysis. Topics to be covered include: labor supply and demand, taxes and transfers, human capital, minimum wages, income distribution, unions and strikes, immigration, incentives, discrimination, unemployment and unemployment insurance. (D).

ECO 325 (3) Economic Development. Prerequisites: ECO 211and 212.

This class introduces both theoretical and empirical approaches to analyzing economic growth and development.  Accordingly, the role of labor, capital, and technological progress are investigated.  Additionally, cultural/social institutions, income demographics, social/class conflicts, political/economic factors, macro/trade policies, financial sector development, etc., may be covered.  In this class, basic growth models will be introduced. (F)

ECO 359 (3) Business Statistics. Prerequisites: MATH 111, ECO 211 and 212.

This course covers basic concepts of statistics: methods of describing numerical data; probability in business decisions; random variables; sampling distributions; estimation and hypothesis testing; and correlation and regression.  Use of statistical software is required. (F, S, Sum)

ECO 360 (3) Mathematics for Economics and Finance. Prerequisite: MATH 221.  This course introduces students to a sample of the mathematical techniques that are used in economics and finance.  Additionally, the course is designed to help students acquire the mathematical skills needed to understand the less technical economic and finance literature.  In general, it should foster a solid mathematical intuition. (S)

ECO 416 (3) History of Economic Thought. Prerequisites: ECO 211 and 212. This course focuses on an historical examination of the development of economic analysis and reasoning.  Several schools of thought are examined. These include, but are not limited to, the following schools of thought:  mercantilist, physiocratic, classical, institutionalist, Keynesian, and neo-classical. (F)

ECO 442 (3) Money and Banking. Prerequisites: ECO 211 and 212. This course analyzes banking and currency in the United States.  Also, the impact of policies regulating banks and non-bank financial institutions are covered. Central to this coverage is a review of the role of the central bank, money supply and demand, monetary policy, and interest rates.  Particular attention is paid to the effects these items have the on economy. (F, S)

ECO 444 (3) Public Economics. Prerequisites: ECO 211 and 212. This course examines the role of the public sector in the economy. The aim of the course is to provide an understanding of the reasons for government intervention in the economy, the extent of that intervention, and the response of private agents to the government's actions. (F)

ECO 445 (3) Comparative Economic Systems. Prerequisites: ECO 211 and 212:  This course examines the major economic systems of the world, in both theory and practice. The approach will generally focus on encouraging a general understanding of how economic systems work and how economic theory interacts with government policy, history, and culture to explain economic performance.  Economies examined can be divided into three basic types. These types are: traditional economic systems, market economic systems, and command economic systems.  (F)

ECO 446 (3) International Trade. Prerequisites: ECO 211 and 212. This course focuses on determinates of the flow of goods and services across international boundaries or territories.  The subject is one of the oldest fields in economics; however, its economic, social, and political importance has been on the rise. With the ongoing debate on globalization, free trade agreements, and the call for a new global financial architecture, interest in the subject should continue to rise.   In this course both basic theories and some current topics will be covered. (S)

ECO 456 (3) Urban Economic. Prerequisites: ECO 211 and 212. This course exposes students to the branch of microeconomics concerned with spatial relationships underlying the formation, the functioning, and development of cities.  Cities are currently facing severe challenges, and in this course urban problems contributing to these problems well be analyzed from an economic perspective. This will lay the foundation for discussions about policy alternatives aimed at addressing these problems.  Emphasis is placed on the spatial characteristics of the urban economy as well as on market failures arising from the presence of externalities. (S)

ECO 460 (3) Introduction to Econometrics. Prerequisite: ECO 359. This course covers the statistical tools needed to understand empirical economic research and to plan and execute independent research projects.  Strong emphasis is placed on applications.  Mathematical models of economic behavior are tested using various inferential statistical methods.  In general, this course should foster a solid mathematical intuition and a fundamental understanding of economic analysis. (S)

ECO 470W (3) Economics Seminar. Prerequisites: ECO 211 and 212. This course pivots around individual research projects.  The topics researched reinforce the students’ mastery of basic economics and econometrics. (S)