Economics Department
Fall 2004
Course Descriptions

ECON 190: Principles of Economics
4 sem. hrs.
J. Ankrom, M. Frost, L. Gwinn, F. Tiffany, D. Wishart
Prerequisites: Minimum Math Placement Level 22

An introduction to basic principles of economics. Topics covered include supply and demand, marginal analysis, competition, profit maximization, aggregate demand and supply, the level of employment, inflation, fiscal policy, monetary policy, and international trade. Lecture/discussion format.

ECON 260: East Asian Economies
4 sem. hrs.
L. Gwinn
Prerequisites: ECON 190

Study of specific problems and institutions of the East Asian economies. Topics include international trade and development practices as well as fiscal and monetary policies in the region. Writing Intensive.

ECON 301: Money and Banking
4 sem. hrs.
J. Ankrom
Prerequisites: ECON 190 and MATH 120

The course is meant to impart a basic understanding of money and financial institutions and their impact on the working of the economy. This will be accomplished by examining the following topics.

1. The role and functions of financial intermediaries.
2. The role of government in financial markets.
3. Central banks, monetary policy and the creation of money.
4. Pricing of financial assets, and risk/return models.
5. Models of interest rate determination and theories of the term structure of interest rates.
6. Mortgage and securitized asset markets.
7. Options and futures markets.

The course will have a lecture/discussion format and will involve regular reading of the Wall Street Journal. Exams, quizzes, and class discussion problems, form the basis for the course grade.

ECON 310: Intermediate Microeconomic Theory
4 sem. hrs.
F. Tiffany
Prerequisites: ECON 190 and MATH 120

Economics 310 is a rigorous examination and extension of the microeconomic principles learned in ECON 190. Formal models of consumer and producer behavior are presented, along with theories of market behavior under assumptions of both perfect and imperfect competition. It is essential that students taking this course have a thorough understanding of ECON 190 and MATH 120. Lecture/discussion format. Grade is based on two midterm exams and a comprehensive final exam.

ECON 320: History of Economic Thought
4 sem. hrs.
D. Wishart
Prerequisites: ECON 101,102

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.

ECON 330: International Trade and Finance
4 sem. hrs.
L. Gwinn
Prerequisites: ECON 190 and MATH 120.

Study of the principles governing the effect of international trade and trade restrictions on national welfare, as well as the effect of exchange rate systems on domestic income and prices. Attention is also given to international economic institutions and their policies.

ECON 390: Topics: Law and Economics
4 sem. hrs.
D. Wishart
Prerequisite: ECON 310, Intermediate Microeconomic Theory.

In the past, the connection between the fields of economics and law has been limited to a few areas including regulation of monopolies, taxation, and the calculation of damages. However, the past 25 years, a new field has emerged that closely connects economics analysis and legal analysis in some core areas of both the private law (property, contracts, and torts) and the public law (civil procedure and criminal law procedure, constitutional law, bankruptcy, securities regulation, and more. This course is an introduction to the scholarship associated with an economic analysis of the law. The course will be lecture/discussion in format. Grades will be based on two midterm exams, a final exam, and problem sets.

ECON 391: Advanced Economic Theory
4 sem. hrs.
J. Ankrom/ F. Tiffany
Prerequisites: ECON 310, 311, MGT. 210, and MATH 131 or 201.

This course broadens and deepens understanding of intermediate economic theory through the coverage of a series of advanced topics in both microeconomic and macroeconomic theory. The microeconomic portion of the course focuses on game theory and its use in economics while the macroeconomic portion is devoted to developing a market-clearing macroeconomic model and contrasting it with traditional Keynesian models. The course assumes basic knowledge of both calculus and probability. Lecture/discussion format.