ECONOMICS

ECO 113. Principles of Microeconomics (3).

In this course the student pursues general understanding of the methodology used in economics. Topics studied emphasize models of behavior of consumers and producers as individual participants in the economic system. No prerequisites.

ECO 114. Principles of Macroeconomics (3).

The course focuses on using economics methodology in the study of macroeconomic principles. Important topics for consideration include derivation of the GNP and the impact of fiscal and monetary policy on output, employment and the price level. No prerequisites.

ECO 205. Economics of public policy analysis (3).

This course introduces basic concepts for public policy economics. These include opportunity cost, demand and supply analysis, market failure, and formulations of equity. The three course components include cost-benefit analysis using examples from government programs and environmental regulations; macroeconomics topics such as fiscal and monetary policies to lower unemployment and inflation, international trade policy, and policies to promote growth and financial stability; and microeconomic topics such as market issues such as the minimum wage and returns to education and training expenditures. No prerequisites.

ECO 228 (FIN 302). Money, Credit and Banking (3).

This course includes monetary theory, price level determination, determination of the supply of money, foreign exchange rates, operations of the commercial banks and the Federal Reserve System and monetary policy. Prerequisites: ECO 113-114.

ECO 250. Intermediate Microeconomic Theory (3).

This course is an intensive investigation of the chief topics of pure microeconomics theory, such as the theory of demand, theory of production, price determination in various markets, factor pricing, indifference analysis, equilibrium, linear programming and welfare theory. Prerequisites: ECO 113-114.

ECO 252. Intermediate Macroeconomic Theory (3).

This course includes an intensive treatment of the following topics: national income accounting, the classical theory of income, employment and the price level, Keynesian macroeconomic analysis, equilibrium, growth theory and similar points. Prerequisites: ECO 113 -114.

ECO 313. Labor Economics (3).

This is a course in specialized economic analysis. It treats theories of wage determination; the supply of, and demand for, labor; measurement of the labor force; the relationship between wage rates, costs and prices; the effects of trade union policies on employment and profits; labor and technological change; determination of labor's share in national income. Prerequisites: ECO 113-114.

ECO 316. Economic History of the United States: 1860-1960 (3).

This survey course traces the major economic developments in the United States from the period of the Civil War to the present era. Emphasis is on the causes of economic change and the implications of shifts in the patterns of production and consumption. The areas of course concentration are industry, agriculture, transportation, communication, urbanization and trade. No prerequisites.

ECO 322 (SOC 322). ECONOMICS OF CRIME AND PUNISHMENT (3).

This course will present the economic approach to crime and punishment. There will be an emphasis upon both the economic cost borne by the economy in the aggregate and by individual households in the prevention of crime. The economic approach assumes that both criminals and victims are rational in the sense that they base their choices on the expected benefits and costs of alternative behaviors. Specific topics include economic assessments of the criminal justice system, perspectives on the punishment and reform of criminals, and analyses of the market for illegal drugs, gun control, and capital punishment.

ECO 325. Econometrics (3).

A study of statistical estimation applied to linear models. Topics include multiple linear regression and simultaneous equations. Applications to economic problems such as estimation of demand relations, consumption functions and labor supply functions are emphasized. Prerequisites: STA 201-202 or equivalent; ECO 113-114.

ECO 330. Mathematical Economics (3).

A study of the application of mathematical concepts to economic analysis, with special reference to deterministic methods. Topics include comparative statistics, generalized La Grange multipliers and dynamic modeling. Prerequisites: MTH 122 or equivalent; ECO 250-252.

ECO 340. Economics of Developing Countries (3).

This course introduces the advanced student to the theories and problems of economic growth and development. Various economic and non-economic aspects of development and underdevelopment are placed in historical perspective. Other topics are the population issue, the human cost of development, barriers to development, industrialization versus agriculture, and domestic and international policy. Prerequisites: ECO 113-114.

ECO 345. Industrial Organization (3).

This course is designed to introduce students to the theoretical and empirical studies of how the structure and conduct of sellers and buyers affects economic performance and economic welfare. Among the subject areas included are product differentiation, merger practice and government regulation of firm behavior. Emphasis is placed on how well traditional theories of structure, conduct and performance provide a basis for market evaluation of intervening public policy. Prerequisites: ECO 113-114.

ECO 355. Managerial Economics (3).

Application of economic criteria in business decision making. Topics include demand analysis for forecasting, production decisions for multiproduct firms, pricing, capital budgeting and cost benefit analysis. Prerequisites: ECO 113-114; STA 201-202; MTH 120.

ECO 370 (CFM 413). Comparative Medical Care Systems: Economic Dimensions (3).

See course description for CFM 413.

ECO 390-399. Independent Study in Economics.

A student who wishes to pursue an independent study project for academic credit must submit, prior to registration, a proposed plan of study that includes the topic to be studied and goal to be achieved, the methodology to be followed, schedule of supervision, end product, evaluation procedure and number of credits sought. The proposal must be approved by the supervising faculty member the department chair and the academic dean. It will be kept on file in the academic dean's office.

ECO 402 (SOC 402/ACT 402/IRL 403/PSC 402). Program Evaluation Research Methodology & Policy Analysis (3).

The goal of this course is to develop a comprehensive understanding of the use of behavioral science research methods and theories for program and intervention evaluations. Topics given special emphasis include: measurement strategies and problems, needs assessment, experimental and quasi-experimental field designs, qualitative methods, benefit-cost analysis, statistical approaches to modeling bias and the use of evaluation results in the policy process. Prerequisites: SOC 201 or PSY 201 or PSC 202 or IRL 441-442 or ECO 325 and STA 201-202 or MTH 111-112 or permission of instructor.

ECO 404. History of Economic Thought (3).

The purpose of this course is to acquaint the student with the historical development of economics. The chief figures in the history of the subject are studied and their doctrines are related to previous and subsequent doctrines. The course synthesizes much of economic theory, history, philosophy and theology. Prerequisites: ECO 113-114 or with permission.

ECO 405. International Economics (3).

This course includes a description of the principles and practices of foreign trade; the mechanisms of international payments; the scope and significance of international investments; international cartels; commercial treaties and agreements; international trade policies, past and present; international trade and financial institutions; principles of economic integration; the European Common Market. Prerequisites: ECO 113-114 or with permission of the instructor.

ECO 413. Topics in Economic History of Europe (3).

A survey of problems in European economics from industrialization to the present. The emphasis is on economic institutions, policies and processes by which the European economies reached high levels of economic development.

ECO 415. Comparative Economic Systems (3).

This is a study of the principle structure and operations of the chief economic systems of the world, both present and past, together with an ethical evaluation of the same. It examines the norms that are used and should be used in determining economic institutions and policies. Relations between ethics and economics: principles of planning and welfare maximization are included. Prerequisites: ECO 113-114.

ECO 426 (CFM 426). Reforming the U.S. Health Care Systems (3).

See course description for CFM 426.

ECO 427. Public Finance (3).

This course aims to give the student a well-rounded understanding of the economics of taxation, governmental expenditure and budgeting. Much attention is paid to fiscal policies and their economic effects. Historical material relating to the development of the government sector of the economy is included. Prerequisites: ECO 113-114.

ECO 430. Urban Economics (3).

This course is designed to introduce students to the theoretical models and empirical work which have attempted to explain the origins, development and growth of urban areas. Among the subject areas included are the location of cities, the location of activity within cities, residential land use, evaluation of the urban economic base and urban public finance. Emphasis is placed upon evaluating models for their ability to explain economic patterns within urban areas and assessing their policy prescriptions for problems such as urban sprawl, slums, poverty and fiscal difficulties. Prerequisites:

ECO 113-114.

ECO 436. Seminar (3).

Topics for papers and discussions are determined by the professor. Prerequisites: ECO 113-114 and permission of the instructor.

ECO 490-491. Internship in Economics (1).

Participation in a field learning experience closely related to one area of economics. The student interns report as required to the faculty member assigned to supervise this field experience and will be expected to evaluate the experience and relate it to his or her academic program. Three hours of field work per week will be required to generate one credit. Prerequisite: permission of the department chair.

ECO 498. Honors Research (3).

This fulfills the requirement that honors students complete a research project. Subject matter to be arranged.