ECON 190 - Principles of Economics; (4 semester hrs.); M. Frost, L. Gwinn, D. Wishart
An introduction to basic principles of economics. Topics covered include supply and demand, marginal analysis, perfect competition, profit maximization, aggregate demand and supply, the level of employment, inflation, fiscal policy, monetary policy, and international trade. Students must have attained the math placement level 22 to enroll. Lecture/discussion format.
ECON 220C - Economics of Developing Areas; (4 semester hrs.); M. Frost
Development economics began as a specific field in economics after World War II, making it a relatively new area of inquiry for economists. In the past development economics concerns have been how to couple economic growth with fundamental structural changes in the real and financial sectors of an economy in order to obtain a permanent and sustained rise of incomes and life conditions for the whole population. More recently development economics has broadened to include a wider range of human development issues focusing on health, literacy, empowerment and equity. The focus of this course will be on the development experience of the low income nations in Asia, Africa, Central America and Eastern Europe ca. 1960 to the present. Each student will explore the development experience of a single country through structured data analysis and writing assignments. Lecture/ discussion format. Writing intensive. Prerequisites: ECON 190.
ECON 290C - Topic: Economies in Transition; (4 semester hrs.); M. Frost
Between 1979 and 1992 nearly 30 countries with approximately one-third of the world's population, voluntarily embarked upon a still unfolding experiment to move both resource decision-making and ownership from a central political authority toward private households, firms and local governments. Transition economics, a new field since the early 1990s, explores the process and results of the decisions of the nation states of the former Soviet Union, Eastern Europe and east Asia to move from centrally-planned toward market and from socialist toward capitalist economies. A central focus of the course will be the examination of the strategies pursued and progress of transition in these countries at the macro and sectoral levels, the institutions that have evolved, and the human welfare consequences of the transition process. Writing Intensive. Prerequisite: Econ 190.
ECON 300 - Econometrics; (4 semester hrs.); L. Gwinn
Econometrics revolves around constructing and statistically testing economic models. The lectures will focus on discussing methodology in economics and learning the fundamentals of regression analysis. In addition, a large portion of the course will be devoted to research projects in which students use a computer regression package to test economic theory against empirical evidence, analyze economic policies, and forecast economic variables. Prerequisites: ECON 190 and MGT 210 or its equivalent.
ECON 311 - Intermediate Macroeconomic Theory; (4 semester hrs.); L. Gwinn
This course builds on the ideas presented in ECON 190. Models that are used to analyze the national economy are developed in greater detail, with an emphasis on the distinction between short-run and long-run equilibrium, and on the various schools of thought. We discuss problems inherent in fiscal and monetary stabilization policy and their relationship to unemployment, inflation, and economic growth. A good understanding of algebra is necessary. Prerequisites: ECON 190 and MATH 120 or its equivalent.
ECON 320 - History of Economic Thought; (4 semester hrs.); D. Wishart
This course critically examines the work of economic thinkers from the time of Plato through the early 20th century. The goal of this course is to both enable students to understand how the environment economic thinkers lived in influenced their analysis and to appreciate how economic thought has been refined and improved through the ages. The centerpiece of the course will continue to be a detailed textual analysis of Adam Smith's classic work, An Inquiry into the Nature and Causes of the Wealth of Nations Readings will focus on original texts as much as possible throughout the course. Students will be expected to write two short papers, give one in-class presentation, write midterm and final exams, and participate actively in class discussions. The format for the course is lecture-discussion. This course is writing intensive. Prerequisites: ECON 190 or equivalent.
ECON 350 - Environmental & Natural Resources; (4 semester hrs.); D. Wishart
This course will enable students to discuss alternative views on the relationship between population growth and the prospects for improvement in living standards over time. The relationship between population growth and living standards will be examined in the context of different economic models in the light of empirical evidence. Students will also learn about the role that markets play in allocating scarce renewable and nonrenewable natural resources. Limitations of a market approach to allocation of natural resources will be considered. Policy options for coping with environmental degradation that embody market and nonmarket approaches will be evaluated. Two exams and a final will be given. Students will write a 10 to 15 page research paper. The course is writing intensive. The format is lecture/discussion. ECON 190 and MATH 120 or their equivalents are prerequisites.
ECON 360 - Industrial Organization; (4 semester hrs.); F. Tiffany
This course will examine the economics of the firm, imperfect competition and market structure. The goal is to extend and deepen the student's understanding of microeconomics and to apply it to real world situations. We will begin with a review of the standard theory of the firm in a perfectly competitive market, and then consider a variety of models of imperfect competition. We will also examine more sophisticated economic models of firm organization and behavior.
The course will have a lecture/discussion format. Students will be evaluated on the basis of a midterm examination, a final examination and a major writing assignment in which the student must demonstrate the ability to use microeconomic analysis. Some class time will be spent developing the skills necessary to write the paper. Depending on enrollment, the term paper assignment may be structured as a group project. Writing Intensive. Prerequisites: ECON 280 or 310, or permission of the instructor.