/ An introduction to macroeconomic problems — unemployment and inflation. This course covers national income accounting and measures of gross domestic product, aggregate demand and supply, fiscal and monetary policies, and open-economy issues.
This course focuses on resource allocation by consumer and producer, derivation of demand and supply curves, market structure such as perfect competition and imperfect competition, and determination of wages and other factor prices.
Theories of national income, employment, interest rates, exchange rates and the price level, along with an in-depth analysis of the open economy. This course will explore these notions in a theoretical and applied macroeconomic context including topics such as fiscal and monetary policies, financial crises, currency crises, sovereign debt, income inequality and other contemporary issues. Prerequisite: ECON 101. Spring semester.
This course focuses on consumer demand theory, utility maximization and elasticity, theory of the firm, production and cost functions, and profit maximization. Topics also include price and output decisions under perfect competition, monopoly and imperfect competition, factor markets, general equilibrium and pareto-optimality, income distribution, and market failure. Prerequisite: ECON 102. Fall semester
A study of the principal thinkers in economic philosophy. Topics include ancient and medieval economic thought, mercantilism and the dawn of capitalism, the classical period, criticisms of classical economics, socialism, marginalism, the neoclassical period, institutionalism, John Maynard Keynes, the Austrian school, and the Chicago school. It includes readings from primary sources. Prerequisite: junior or senior standing.
This course examines regression analysis, the ordinary least squares method of estimating parameters of linear equation involving two or more variables, hypothesis testing, and problems of estimation. Students participate in model building and forecasting, and use econometric software. Prerequisites: BUAD 228 or SSCI 224 or MATH 321 and ECON 101 or ECON 102 or instructor’s consent.
Topics in advanced econometric analysis. Incorporating lags optimally, stationarity and co-integration, simultaneous models, pooling data and systems of equations. Recommended for students interested in graduate study. Prerequisite: ECON 325.
A focus on theory of labor supply and demand, as well as theory of human capital. Topics include compensation issues, wages, fringe benefits, minimum wage, unions and collective bargaining, employment and unemployment, measurement issues, labor force participation, full employment, immigration, income distribution, and discrimination. Prerequisites: ECON 101 and ECON 102.
This course focuses on theory of the firm, the nature of different market structures, the relationship between industry structure and performance, pricing strategies, vertical integration and restriction, the role of information and advertising, and anti-trust policy and its effects. Prerequisite: ECON 102. Infrequently offered.
Economic analysis of the spectator sports industry. Sports fans as consumers. Teams as profit-maximizing firms. Sports leagues and antitrust considerations. Athlete labor markets. Economics of sports and media. Economics of stadium subsidies. Prerequisites: ECON 102.
The purpose of this course is to apply principles of economics involving, for example, resource allocation and competition in an effort to increase our understanding of religious behavior. The content is driven by economic theory, but we will see it informed by the important contributions of sociology, psychology, and political science (among other disciplines). The majority of the course employs standard rational economic theory that has been prominent in the modern study of economic behavior. Some of our work will relax this assumption to reflect the contribution of behavioral economics which has recently gathered attention within the discipline. The course will employ both theoretical and empirical analyses. Consequently, the class will develop or extend economic concepts in a step-by-step fashion in order to lead students to predictions of various aspects of religious behavior enabling them to test these predictions with data. Prerequisites: ECON 101 and ECON 102.
The study of the economic aspects of environmental issues, such as water and air pollution, global warming and deforestation, in a microeconomic framework. The course also focuses on possible consequences of economic activity on the environment, design of policies meant to foster economic development along with environmental protection, benefit-cost analysis, and optimal use of natural resources. Prerequisite: ECON 102.
This Global Seminar Study Abroad course seeks to explore the evolution of the European Union as well as its current and future challenges from the perspective of international economics. Topics covered will include international finance, exchange rates, balance of payments accounting, international trade, as well as international business relations. This course will include site visits with EU institutions and international businesses operating in the EU. Summer sessions.
This course examines characteristics of developing countries; theories of economic growth (neoclassical and structuralist models and endogenous growth); importance of physical and human capital; export-led growth versus import substitution; fiscal, monetary and exchange-rate policies; regional and global trade agreements; and country studies. Prerequisites: ECON 101 and ECON 102. Infrequently offered.
A focus on comparative advantage, theories of international trade, terms of trade and welfare, commercial policy-tariffs and quotas, regional trading blocs and international trade agreements. Prerequisites: ECON 101 and ECON 102.
Balance of payments — current account and capital account. Exchange rate determination, purchasing power parity. Open-economy macroeconomics, fiscal and monetary policies, fixed and flexible exchange rates. The role of IMF and World Bank, international debt crisis. Prerequisites: ECON 101 and ECON 102.
The application of microeconomic theory to managerial decision-making regarding demand, production and cost. Traditional neoclassical theory of the firm combined with modern adaptations addressing property rights, transaction costs, imperfect information and global markets. Use of linear programming techniques, emphasis on critical-thinking skills in managerial problem-solving. Prerequisite: ECON 102.
This course examines the role of government (allocation, distribution and stabilization), welfare economics, externalities, public goods, public choice theory, government expenditures, cost-benefit analysis, government finance, tax versus debt financing, deficits and the public debt, taxation theory, income, consumption and wealth taxes, fiscal federalism, and state and local government issues. Prerequisites: ECON 101 and ECON 102.
While economics studies the behavior of individuals and firms and their role in society, the nature of the firm is beginning to change with regard to social impact. Many firms are seeking to create meaningful social value and address important social issues while in pursuit of their economic value. These firms must be innovative and entrepreneurial in nature, with a firm understanding of capital markets, all while advocating for social change. The purpose of this course is to explore the role of the capital markets in investing for social change and will take an interdisciplinary approach combining notions of finance and portfolio theory, the economics of innovation and technology, philanthropy, and ethics. Ultimately, students will explore how we can reimagine the role of allocating resources in the economy in the context of investing for social impact. Prerequisite: ECON 101 or ECON 102.
This is a seminar course offered whenever a mutual interest in a more specialized topic in economics exists for a member of the faculty and a sufficient number of students. Prerequisite: ECON 101, ECON 102, and Junior or Senior standing.
Individual study of an approved topic in economics under the direction of an Economics faculty member. Permits faculty and students to explore together some subject of special or personal interest. Reading and tutorial discussion are required, written work is optional. Prerequisite: instructor consent and approval of the associate dean of the Schneider School of Business and Economics.
Qualified students may perform economics research projects under the supervision of an Economics faculty member. Prerequisite: instructor consent and approval of the associate dean of the Schneider School of Business and Economics.
Appropriate work experience with business firms or government agencies may be undertaken for course credit when directly related to the educational goals of the student. Prerequisite: instructor consent and approval of the associate dean of Schneider School of Business and Economics.
This course consists of a two-hour exam covering various areas of economics in the undergraduate curriculum. The purpose of this exam is to assess whether graduates of the program are achieving the outcomes of the major program. The results of the exam helps the economics discipline monitor and improve the program. Prerequisite: senior standing. Spring semester.
