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| ADMISSIONS | BURSAR | FINANCIAL AID | GRADUATE SCHOOL | RESIDENTIAL LIFE | STUDENT ADMINISTRATION | UNDERGRADUATE CATALOG | |
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Economics (ECON)Head of Department: Professor Dennis Heffley For major requirements, see the College of Liberal Arts and Sciences section of this Catalog. Update: Link to descriptions of new courses approved in spring 2006. First semester. Three credits. Not open for credit to students who have passed ECON 102, 111, 112, or 113. A one-semester general introduction to micro- and macroeconomics. Economic concepts include: opportunity costs, demand and supply, incentives, comparative advantage, inflation and employment policies, balance of international payments, and economic growth. CA 2. 102. Principles of Economics (Intensive) (Formerly offered as ECON 113.) Second semester. Four credits. Four class periods. Recommended preparation: ECON 101. Not open for credit to students who have passed ECON 111, 112, or 113. May not be taken concurrently with ECON 111 or 112. Same core principles as ECON 111 and 112. One half macroeconomics and one half microeconomics. More demanding than ECON 111 and 112. Substitutes for ECON 111 or 112 as a prerequisite for all junior - senior level courses. May or may not substitute for ECON 111 and 112 outside economics; check Catalog. CA 2. 108. Game Theory in the Natural and Social Sciences 111. Principles of Macroeconomics Both semesters. Three credits. May be taken before or after ECON 112. Not open for credit to students who have passed ECON 102 or ECON 113. May not be taken concurrently with ECON 102. The organization and function of the economic system as a total unit. Economic decisions, institutions, and policies that determine levels and rates of growth of production, employment, and prices. Topical subjects (e.g., government budget deficits and current interest-rate policy). CA 2. 111C. Principles of Macroeconomics 112. Principles of Microeconomics Both semesters. Three credits. May be taken before or after ECON 111. Not open for credit to students who have passed ECON 102 or ECON 113. May not be taken concurrently with ECON 102. How the invisible hand of the market functions through the economic decisions of firms and individuals. How prices, wages and profits are determined, resources are allocated and income is distributed. Topical subjects (e.g., energy policy and health care). CA 2. 201. Economic History of Europe First semester. Three credits. Prerequisite: Either ECON 111 and 112, or 102 or 113 (112 may be taken concurrently). Open to sophomores or higher. Cosgel, Langlois Economic evolution of Europe from feudal times to the present, emphasizing the modern period: the rise of commerce, industry, and banking; the growth of population and the labor force; the changing position of agriculture; business fluctuations; and forms of economic organization. CA 1. 201W. Economic History of Europe Prerequisite: Either ECON 111 and 112, or 102 or 113 (112 may be taken concurrently); ENGL 105 or 110 or 111 or 250. Open to sophomores or higher. CA 1. 202. Topics in Economic History and Thought Either semester. Three credits. Prerequisite: ECON 111 and 112, or 102 or 113, or instructor consent. May be repeated for credit, with change of topic. Carstensen, Cosgel, Langlois, Minkler Special topics in economic history, the history of economic thought, the philosophy and methodology of economics, or alternative economic theories. 202W. Topics in Economic History and Thought. Prerequisite: ECON 111 and 112, or 102 or 113, or instructor consent; ENGL 105 or 110 or 111 or 250. 203. Economic History of the United States Second semester. Three credits. Prerequisite: ECON 111 and 112, or 102 or 113. (112 may be taken concurrently). Open to sophomores or higher. Carstensen Issues in American economic development, including the political economy of the Constitution, the economics of slavery, the rise of modern corporations and the causes of the Great Depression. CA 1. 203W. Economic History of the United States Prerequisite: ECON 111 and 112, or 102 or 113. (112 may be taken concurrently); ENGL 105 or 110 or 111 or 250. Open to sophomores or higher. CA 1. 204. Economic History of the Middle East First semester. Three credits. Prerequisites: ECON 111 and 112, or 102 or 113. (ECON 112 may be taken concurrently). Open to sophomores or higher. Cosgel Economic history of the Middle East, including the organization of rural and urban activity, relationship with Western Europe, and the roles of international trade, foreign capital, petroleum, and institutional structure in economic development. CA 4-INT. 204W. Economic History of the Middle East Prerequisites: ECON 111 and 112, or 102 or 113. (ECON 112 may be taken concurrently); ENGL 105 or 110 or 111 or 250. Open to sophomores or higher. CA 4-INT. 205. History of Economic Thought Second semester. Three credits. Prerequisite: ECON 111 and 112, or 102 or 113. Cosgel, Cunningham, Langlois The evolution of economic ideas significant to their own times and to the state of current theory. Mainly nineteenth and twentieth century thinkers. 205W. History of Economic Thought Prerequisite: ECON 111 and 112, or 102 or 113; ENGL 105 or 110 or 111 or 250. (Also offered as PHIL 245.) Either semester. Three credits. Prerequisite: ECON 102, or 112, or 113. An examination of the normative assumptions and implications of modern economics (for example, the connections between Classical Utilitarianism and Welfare Economics). Attention to methodological controversies in contemporary economic theory. First semester. Three credits. Prerequisite: ECON 102 or 112 or 113. Minkler A contrast to the assumptions, values, methodology, and philosophical underpinnings of mainstream economic analysis. Altruism, role of social norms and culture, importance of work, moral assessment of economic systems, feminist and ecological economics. Prerequisite: ECON 102 or 112 or 113; ENGL 105 or 110 or 111 or 250. 212C. Empirical Methods in Economics I Second semester. Three credits. Two class periods and one 2-hour laboratory period. Prerequisite: ECON 111 and 112, or 102, or 113; and MATH 106Q or 113Q or 115Q or 118Q; and STAT 100QC or 110QC. Open to sophomores or higher. A course recommended for all students majoring in economics. Couch, Lott, Ray, Tripathi Introduction to the empirical testing of economic theories. Student projects testing simple economic models. 213WC. Empirical Methods in Economics II Second semester. Three credits. Prerequisite: ECON 212C; ENGL 105 or 110 or 111 or 250. Lott, Ray, Tripathi Analysis of economic time series, estimation of single- and simultaneous-equation economic models, and statistical decision theory. First semester. Three credits. Prerequisite: ECON 111, 112, or 102, or 113; MATH 106Q or 113Q or 115Q or 118Q. Heffley, Knoblauch, Lott, Ray, Segerson, Zimmermann Application of mathematical techniques to economic problems. Methods studied: set theory, linear algebra, equilibrium analysis, unconstrained and constrained optimization, comparative statics, and linear programming. First semester. Three credits. Two 75-minute classes per week. Seven of the classes will be held at the computer lab. Recommended preparation: ECON 111, 112, or 102 or 113. Sacks Extensive use of computer spreadsheets to find efficient solutions to problems faced by managers in both the public and private sectors. Optimization of input and output mixes, of delivery routes, and communication networks. 217. Information Technology for Economics Either semester. Three credits. Prerequisites: ECON 111, 112, or 102 or 113. and STAT 100QC or 110QC. Ahking, Cosgel, Sacks The presentation of economic data and testing of economic theory through the use of appropriate computer based tools. Analysis of macroeconomic concepts such as the consumption function, influence of the money supply, budget deficits, and interest rates on macroeconomic equilibrium, and the tradeoff between unemployment and inflation. Analysis of microeconomic concepts such as demand, supply, elasticity, the achievement of equilibrium price and quantity, and analysis of several industries and the stock market. Analysis of historical data such as aggregate and specific price levels, sectoral shifts in the economy, and changes in income distribution. 218. Intermediate Microeconomic Theory Both semesters. Three credits. Prerequisite: ECON 102 or 112 or 113. Recommended preparation: ECON 111 and one of: MATH 106Q, 113Q, 115Q, 118Q or 120Q.Open to sophomores or higher. Cosgel, Dharmapala, Heffley, Kimenyi, Knoblauch, Lott, Miceli, Minkler, Randolph, Ray, Sacks, Segerson Intermediate microeconomic theory, covering demand and supply,exchange and production, pricing, and welfare economics. 219. Intermediate Macroeconomic Theory Both semesters. Three credits. Prerequisite: ECON 102 or 111 or 113. Recommended preparation: ECON 112 and one of MATH 106Q, 113Q, 115Q, 118Q or 120Q. Open to sophomores or higher. Ahking, Cunningham, Morand, Zimmermann Intermediate macroeconomic theory, covering national income accounting; the determination of aggregate output, employment and price levels; elements of business cycles and economic growth. 220. Economics of Taxation and Government Spending Either semester. Three credits. Prerequisite: ECON 102 or 112 or 113. Recommended preparation for students who have passed ECON 112: ECON 111. Open to sophomores or higher. Critical issues in taxation and government expenditures. Emphasis on institutions and public policy. Topics include: rationale for and effects of progressive taxation, reform of the tax system, Social Security and Medicare, welfare reform, defense, and fiscal federalism. 221. Urban Development and Policy Second semester. Three credits. Prerequisite: ECON 112 or 102. Education, housing, anti-poverty, economic development, and transportation policies for American cities and metropolitan areas. Emphasis on different roles of policies that act upon people versus places. Analysis tools for regional economic development such as input-output matrices and cost-benefit analysis. (Formerly offered as ECON 257.) First semester. Three credits. Prerequisite: ECON 111 and 112, or 102 or 113. Open to sophomores or higher. Kimenyi Analysis of poverty and income maintenance programs: theories of income distribution and comparison of public policies in the U.S. and other countries. 224. Women and Minorities in the Labor Market (Formerly offered as ECON 279.) First semester. Three credits. Prerequisite: ECON 111 and 112, or 102 or 113. Open to sophomores or higher. Kimenyi, Randolph Issues and problems confronting women and minorities in the workplace, using economic theory, institutional analysis, and empirical investigation. Historical background, allocation of time, discrimination, earnings determination, occupational structure, labor unions, and public policy. (Formerly offered as ECON 274.) Second semester. Three credits. Prerequisite: ECON 112, or 102 or 113. Recommended preparation: ECON 218. Open to sophomores or higher. Couch, Kimenyi Economics of labor: human capital theory, discrimination, unemployment, manpower policy, and trade unions. (Formerly offered as ECON 274W.) Prerequisite: ECON 112, or 102 or 113; ENGL 105 or 110 or 111 or 250. Recommended preparation: ECON 218. Open to sophomores or higher. (Formerly offered as ECON 276.) Second semester. Three credits. Prerequisite: ECON 112, or 102 or 113. Open to sophomores or higher. Legal status of labor, unorganized and organized, in legislation and court decisions. Emphasis on the labor contract, bargaining procedures, and union and employer tactics. Also, legislation dealing with wages, hours, child labor, old-age benefits, and accident and unemployment compensation. 228. Transitional Economies of Russia and Eastern Europe (Formerly offered as ECON 244.) First semester. Three credits. Prerequisite: ECON 111 and 112, or 102 or 113. Open to sophomores or higher. Economic transition of these formerly socialist economies into capitalist, market economies. Comparison of centrally planned and market economies. Problems of macroeconomic imbalance, economic distortions, shortages and repressed inflation. Means and timing of price liberalization, privatization, restructuring, currency convertibility, and building legal and financial institutions. Both semesters. Three credits. Prerequisite: ECON 111 and 112, or 102 or 113. (112 may be taken concurrently.) Open to sophomores or higher. Ahking, Cunningham, Lott The nature of money, the origins of monetary standards and systems, the development and operation of commercial banking, the Federal Reserve System, and international monetary agencies. (Formerly offered as ECON 264.) Second semester. Three credits. Prerequisite: ECON 112, or 102 or 113. Open to sophomores or higher. Knoblauch, Langlois, Minkler Relations between government and business. Public policies enforcing, supplementing, or replacing competition in particular markets, studies of selected industries and legal cases. Either semester. Three credits. Prerequisite: ECON 102 or 112 or 113. Recommended preparation for those students who have passed ECON 111. Open to sophomores or higher. Economies of industries that use and manage ocean resources. Applications of industrial organization, law and economics, natural resource theory, and environmental economics. 237. Special Problems in Money and Banking (Formerly offered as ECON 231.) Second semester. Three credits. Prerequisites: ECON 230, and 219. Recommeneded preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Not open for credit to students who have passed ECON 231. Ahking Emphasis on public policy: commercial bank regulations; the relation of liquidity to economic fluctuations; government lending agencies; and central bank policies and credit control. Either semester. Three credits. Prerequisite: ECON 218. Recommended preparation: ECON 111 or 102 or 113 and one of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Matschke Economic basis of international trade, trade policies, and international economic organizations. Prerequisite: ECON 218; ENGL 105 or 110 or 111 or 250. Recommended preparation: ECON 111 or 102 or 113 and one of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Either semester. Three credits. Prerequisites: ECON 219. Recommended preparation: ECON 112, or 102, or 113, and one of: MATH 106Q, 113Q, 115Q, or 120Q. Ahking, Cunningham, Zimmermann Payments and financing of international trade: foreign exchange markets,the balance of payments, capital flows, and international monetary arrangements. Either semester. Three credits. Prerequisite: ECON 111, or 102, or 113 and 218. Recommended preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Randolph, Zimmermann Economics of problems facing developing nations: theories of development, and strategies and policies to promote economic development Prerequisite: ECON 111, or 102, or 113 and 218; ENGL 105 or 110 or 111 or 250. Recommended preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Either semester. Three credits. Prerequisite: ECON 218. Recommended preparation: ECON 111, 102, or 113, and one of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Dharmapala, Kimenyi, Miceli, Sacks, Sergerson Government expenditures and tax policies: theories of public choice, size and mix of government budgets, alternative tax systems, and tax reform. Prerequisite: ECON 218; ENGL 105 or 110 or 111 or 250. Recommended preparation: ECON 111, 102, or 113, and one of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. 258. Contemporary Problems in Economics Either semester. Three credits. Prerequisites: ECON 218 and 219 (one of which may be taken concurrently). Recommended preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Current issues of government economic policy, primarily microeconomic: energy, income maintenance, labor markets for minorities and women, government regulation, health care, and others. 258W. Contemporary Problems in Economics Either semester. Three credits. Prerequisites: ECON 218 and 219 (one of which may be taken concurrently); ENGL 105 or 110 or 111 or 250. Recommended preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. 259. Urban and Regional Economics (Also offered as URBN 259.) Second semester. Three credits. Prerequisite: ECON 218. Recommended preparation:ECON 111, 102, or 113 and one of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Heffley, Miceli Economic problems of cities and regions: urban markets for land, labor, and housing; location decisions of businesses and households; metropolitan transportation problems; urban/suburban fiscal relations; urban and regional environmental quality; and the economics of crime. 259W. Urban and Regional Economics Prerequisite: ECON 218; ENGL 105 or 110 or 111 or 250. Recommended preparation: ECON 111, 102, or 113 and one of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Second semester. Three credits. Prerequisite: ECON 218. Recommended preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Heffley Economic analysis of the health sector: organization and performance of health care delivery systems; economic behavior of patients and providers; markets for health services; health-care finance and insurance; health-care policy; and cost-benefit analysis of health-care programs. First semester. Three credits. Prerequisite: ECON 218. Recommended preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Knoblauch, Langlois, Minkler The nature of competition and economic organization. Competitive effects of business practices, and their influence on price, production, and technological change. Either semester. Three credits. Prerequisite: ECON 218. Recommended preparation: ECON 111, or 102 or 113 and one of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Langlois, Miceli The law as an economic institution. Primary focus on the Common Law, property, tort, and contract. Applications to pollution control, land-use, hazardous wastes, product liability, and worker safety. Ethical as well as economic approaches to the law. Either semester. Three credits. Prerequisite: ECON 218. Recommended preparation: One of: MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Couch, Kimenyi Theoretical analysis of labor markets: labor supply and demand; wage differentials; human capital; and the inflation-unemployment tradeoff. Either semester. Three credits. Prerequisites: ECON 218 and 219, (one of which may be concurrent); ENGL 105 or 110 or 111 or 250. Recommended preparation: One of MATH 106Q, 113Q, 115Q, 118Q, or 120Q. Special topics in micro - and macroeconomic theory, applications, and testing. Recommended for capable students who are motivated to develop and extend their knowledge of economics in creative ways. Required for Honors Scholars in Economics and Economics Scholars. 289W. Senior Thesis in Economics Either semester. Three credits. Hours by arrangement. Open only with consent of instructor. Prerequisite: ECON 286W or consent of the Department Honors Advisor; ENGL 105 or 110 or 111 or 250. The student should define a general subject area for the thesis before choosing a thesis advisor and seeking consent at the time of registration. The student should then submit a written proposal for the senior thesis to the advisor by the end of the semester preceding enrollment for thesis credit. Either or both semesters. Credits and hours by arrangement. May be repeated for credit. Consent of Department Head required, prior to the student's departure. May count toward the major with consent of the advisor. Special topics taken in a foreign study program. Both semesters. Two credits. Hours by arrangement. Consent of instructor is required. Students must have: nine credits of 200-level economics courses (six of which may be concurrent). Students must be at least 6th-semester and have a minimum GPA of 2.25 or a minimum of 2.5 in 200-level economics courses. Students must secure a satisfactory intern position before the end of the second week of the semester of enrollment in this course. They should begin consultation with the instructor several months in advance. Does not count toward the economics major. Must be taken concurrently with ECON 295; no credit will be given for one course without the other. Students taking this course will be assigned a final grade of S (satisfactory) or U (unsatisfactory). Segerson Supervised field work, of six to eight hours per week, relevant to some area of economics, with a business firm, government agency or non-profit organization. Evaluation by the field supervisor and by the instructor (based on a detailed written report submitted by the student). 295. Internship - Research Paper Both semesters. One credit. Hours by arrangement. Consent of instructor required. Students must have nine credits of 200-level economics courses (six of which may be concurrent). Students must be at least 6th-semester and have a minimum GPA of 2.25 or a minimum of 2.5 in 200-level ECON courses. Must be taken concurrently with ECON 294; no credit will be given for one course without the other. Cunningham Research paper of 3,000-4,000 words on approved topic related to the internship field study. Either semester. Three credits. With a change in topic, may be repeated for credit. Prerequisites and recommended preparation vary. Either semester. Credits and hours by arrangement. With a change in topic, this course may be repeated for credit. Prerequisites and recommended preparation vary. Either or both semesters. Credits and hours by arrangement. Open only to seniors with consent of instructor. A student may receive credit for no more than 6 credits of ECON 299. Tutorial course to enable qualified students to round out their training in economics. Independent reading conferences and short research papers. |
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