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Economics Course Descriptions

(ECON) College-Program: 17-24 Check with Department for quarter when these courses are offered. Read each course description for prerequisites.

202 PRINCIPLES OF ECONOMICS II, INTRODUCTION TO MICROECONOMIC ANALYSIS (4 credits). The principles and techniques of economic analysis dealing with the operation of markets in determining prices and resource allocation. Prerequisite: ECON 201. (Applies to Liberal Education Area V ).

203 PRINCIPLES OF ECONOMICS III, INTRODUCTION TO MACROECONOMIC ANALYSIS (4 credits). A survey of principles and institutions underlying the determination of income, employment, and the general price level. Prerequisite: ECON 201. (Applies to Liberal Education Area V ).

300 THE THEORY OF COMPETITIVE MARKETS (4 credits). A study of the optimal allocation of resources in a price system under a competitive market structure: demand analysis, production, and cost relationships. Prerequisite: ECON 202. Economics Majors (B.S. Program) must also have one of the following: MATH 211 or MATH 241 or ECON 403 or consent of instructor (ECON 403 may be taken concurrently).

301 WELFARE ECONOMICS AND THE THEORY OF IMPERFECT COMPETITION (4 credits). A study of general equilibrium and the structure of American industry emphasizing imperfect competition including monopoly, duopoly, oligopoly, and monopolistic competition. Prerequisite: ECON 300.

302 INTERMEDIATE MACROECONOMIC THEORY (4 credits). Investigates the determination of aggregate income and employment, consumption, and price level. Effects of governmental monetary and fiscal policies on short-term economic performance. Prerequisite: ECON 203.

310 MANAGERIAL ECONOMICS - Alt. Yrs. (4 credits). An application and development of microeconomic tools to the decision making process of an enterprise. Topics include demand and cost estimation, production, price and product variety decisions, capital budgeting and capital structure. Prerequisite: ECON 202.

311 MONEY AND BANKING (4 credits). The monetary and banking systems in the United States, the Federal Reserve System, monetary theory and policy, price fluctuations and stabilization, and banking operations. Prerequisite: ECON 202 and 203; or consent of instructor.

312 PUBLIC FINANCE - Alt. Yrs. (4 credits). A study of government revenues and expenditures; special emphasis on tax and expenditure principles, tax shifting and incidence, budgeting, debts and fiscal policy. Prerequisites: ECON 202 and 203; or consent of instructor.

321 BUSINESS AND GOVERNMENT - Alt. Yrs. (4 credits). A study of business firms and their tactics of market control, the development of antitrust law and policy, the judicial interpretation of law, the effects of government regulation over business firms, and government regulation of public utility rates and services. Prerequisite: ECON 202 or consent of instructor.

331 INTERNATIONAL TRADE AND FACTOR MOVEMENTS - Alt. Yrs. (3 credits). A study of theories of international trade, trade restrictions, and international factor movements. Examination of the roles of major institutions, e.g., GATT and multinationals on trade patterns and factor flows. Emphasis on the effects of trade between the developed nations and the third world. Prerequisites: ECON 202 and 203 or consent of instructor.

332 INTERNATIONAL FINANCE - Alt. Yrs. (3 credits). Foreign exchange markets and determination of exchange rates. Nature of the balance of payments and adjustment mechanisms. Impact of international exchange on the macro economy. Prerequisites: ECON 202 and 203; or consent of instructor.

333 ENVIRONMENTAL ECONOMICS (4 credits). Seeks to explore the origins of environmental problems in terms of the failures of market prices to convey accurate information regarding the value of environmental resources. From this perspective, alternative proposals to deal with environmental problems are examined concerning their ability to promote the more efficient allocation of air, water, and other resources. Prerequisite: ECON 202, or consent of instructor.

335 COMPARATIVE ECONOMIC SYSTEMS - Alt. Yrs. (4 credits). An analysis of the basic theories of capitalism, socialism, communism, fascism, labor-managed economics. Comparisons of economic systems incorporating alternative principles. Prerequisite: ECON 201.

340 ECONOMICS OF LOCAL GOVERNMENT - Alt. Yrs. (4 credits). Focuses on the theory and issues relating to local public finance, including the optimal size of jurisdictions, appropriate revenue sources and intergovernmental grants. Selected policy topics are presented. Prerequisites: ECON 201, 202, and 203; or consent of instructor.

350 EUROPEAN ECONOMIC HISTORY - Alt. Yrs. (4 credits). A study of the institutional transformation which led to the development of capitalism in western Europe, encompassing the evolution of the manorial system and the spread of the industrial revolution in England, Germany, and France. Prerequisite: ECON 201. (Applies to Liberal Education Area V ).

351 AMERICAN ECONOMIC HISTORY - Alt. Yrs. (4 credits). A survey of major topics in American economic history including agriculture, the profitability of slavery, industrialization, transport, finance, the great depression, and the role of government. Prerequisite: ECON 201. (Applies to Liberal Education Area V ).

371 LABOR THEORY AND RELATIONS - Alt. Yrs. (4 credits). Manpower and control, wage and employment theories, unemployment and the control of unemployment, industrial relations and collective bargaining, current labor problems and issues. Prerequisites: ECON 202 and 203; or consent of instructor.

382 CURRENT ECONOMIC PROBLEMS - Alt. Yrs. (4 credits). The analysis of selected current economic problems and policies as they affect our economy as a whole. Examples might include energy, conservation, agriculture, the military-industrial complex, and technology. Prerequisite: ECON 201.

403 QUANTITATIVE METHODS IN ECONOMICS (4 credits). An introduction to the mathematical tools used by contemporary economics in the construction and application of economic theory. Emphasis is placed on the properties of the models considered. Prerequisites: ECON 300 or 302; or consent of instructor. (ECON 300 may be taken concurrently.)

406 ECONOMETRICS (4 credits). Use of regression analysis to test economic hypotheses and predict the behavior of economic series. Emphasis is placed on the analysis of time series as well as cross sectional data. The course focuses on the identification and specification of causal relations. Prerequisites: ECON 300 and 302, BUAD 269 or MATH 260.

492 SEMINAR (4 credits). Advanced topics in economic theory. Topic(s) and instructor(s) will vary. Prerequisites: ECON 301 and 302 or consent of instructor.