Course Descriptions

Required Courses:

ECO 100 — Principles of Macroeconomics
ECO 101 — Principles of Microeconomics
                       (MAT 100 or higher is recommended for ECO 100 and 101)
ECO 200 — Macroeconomic Analysis
ECO 201 — Microeconomic Analysis
                        (MAT 120 or higher is recommended for ECO 200 and 201)
ECO 221 — Statistics for Economics and Business
                       (Requires MAT 120 or above)

The student must then select one of the following courses:
ECO 311 — Public Finance
ECO 350 — International Economics I: Trade
ECO 351 — International Economics II: Finance

Four additional courses in economics should be elected to bring the total credits to 30.

The following cognate course is required:
CSC 200 — Information Management and Productivity Software

In addition, the student is required to pass MAT 139 or MAT 150 as the Liberal Education Program Quantitative Reasoning Requirement.

A student majoring in economics may not take more than 30 credits in business courses exclusive of those with ECO prefixes.

ECONOMICS COURSES

ECO 100 — Principles of Macroeconomics
This introductory course focuses on the basic principles explaining aggregate economic activity. Topics covered include the concepts ,measurements, and problems associated with aggregates such as gross domestic product, price level, unemployment and macroeconomic policy. 3 credits.

ECO 101 — Principles of Microeconomics
This introductory course focuses on the basic problem of resource allocation in an economy with particular reference to the market economy. 3 credits.

ECO 200 — Macroeconomic Analysis
Examination of the composition of the national income and the effects of changes in its components upon the level of national income. Also analyzed are the nature of business cycle fluctuations, with attention to the interrelated problems of infl ation, balance of payments, unemployment, and economic growth. The problem of forecasting economic activity and the development of private and public stabilization programs are analyzed. Prerequisite(s): ECO 100 and 101. 3 credits.

ECO 201 — Microeconomic Analysis
Analysis of the economic principles and processes involved in the structure and operation of a predominantly free-enterprise economic system. Attention is given to pricing and distribution theory (micro-analysis). Prerequisite(s): ECO 100 and 101. 3 credits.

ECO 221 — Statistics for Economics and Business
A first course in statistics concentrates on applications in business and economic decision making. Topics covered include descriptive statistics, basic probability distributions, sampling theory, confidence interval estimation, hypothesis testing, correlation, and simple regression analysis. Prerequisite(s): ECO 100 and 101, and MAT 120. 3 credits.

ECO 303 — Development Economics
The purpose of this course is fourfold: (1) to introduce the student to the field and tools of development economics; (2) to explore in depth the philosophical, theoretical, and policy-oriented complexities of contemporary development issues facing over two-thirds of the world’s population; (3) to examine the strengths and weaknesses of alternative development strategies in light of country experience, and (4) to evaluate recent policy options introduced in development. Prerequisite(s): ECO 100 or departmental permission. 3 credits.

ECO 304 — Labor Economics
This course covers topics in both the supply of and demand for labor, wage determination, the effects of market structure on the equilibrium in the labor market, and the theory of human capital. Additional issues may include labor market discrimination, time allocation between and among households, and the effect of unions. Prerequisite(s): ECO 100 and 101. A knowledge of statistics is helpful. 3 credits.

ECO 307 — Urban Economics
An economic analysis of the structure and functioning of contemporary urban communities to identify and study the more pressing economic problems. Attention is directed to the changing structure of central cities, fiscal arrangements, housing markets, and public goods. Prerequisite(s): ECO 100 and 101. 3 credits.

ECO 310 — Management Science
Application of quantitative methods to economics and business. All decision problems are motivated and organized along an economic and business line of thinking. Specific topics are linear programming, transportation problems, probability concepts, Bayes’ decision rule, game theory, Markov chains, queuing, and inventory models. Prerequisite(s): ECO 100, 101, and 221. 3 credits.

ECO 311 — Public Finance
Principles and techniques involved in obtaining and expending funds by governmental bodies. Considered also are the nature of governmental borrowing and indebtedness as well as sources of revenue and fi scal administration. Prerequisite(s): ECO 100 and 101. 3 credits.

ECO 321 — Introductory Econometrics
An exposition of methods of the empirical determination of economic laws. Topics include the general linear regression model and the corrective measures to take in the critical use of ready-made econometric computer programs which come with an understanding of the rationale of the various methods of econometrics. Prerequisite(s): ECO 100, 101, and 221. 3 credits.

ECO 333 — Economic History of the U.S.
A study of the tools of economic theory to investigate issues in the economic growth and development of the United States from the early colonial period to the Depression of the 1930’s. Attention centers on the forces underlying the development of the modern economy. Prerequisite(s): ECO 100 and 101. A knowledge of American History is useful. 3 credits.

ECO 340 — Money and Banking
A close look at the role of money in determining output, inflation, and interest rates. Topics include money creation, monetary policy, budget defi cits, fi nancial intermediation, banking regulations, and the Federal Reserve. Prerequisite(s): ECO 100 and 101. 3 credits.

ECO 350 — International Economics I: Trade
Theoretical foundations of why nations trade; the problems that arise from trade and the policies nations adopt to correct the problems. Prerequisite(s): ECO 100 and 101. 3 credits.

ECO 353 — Industrial Organization
Economic analysis of the organization of industry and an examination of public policy toward industry. Topics include antitrust and natural monopoly regulation. Prerequisite(s): ECO 100 and 101. 3 credits.

ECO 375 — Quantitative Economics and Business
Exposition of basic mathematical methods related to various types of economic analysis. Emphasis is placed on the application of mathematics to economic models of the firm and the consumer, national income models and models of economic growth. Prerequisite(s): MAT 139 or departmental permission. 3 credits.

ECO 398 — Special Topics in Economics
This is a special course that is either in the pilot stage or a course that will be offered up to three times. Prerequisites are based on content. 3 credits.

ECO 410 — Managerial Economics
Problems solving applications of microeconomic theory to policy level decision-making processes of individual firms competing in local, national, and international markets. Prerequisite(s): ECO 100, 101, and 221. 3 credits.

ECO 431 — Forecasting Methods in Business and Economics
Survey basic quantitative and qualitative methods in forecasting and investigates their applications to problems in business and economics. Prerequisite(s): CSC 200, ECO 221, and junior or senior standing. 3 credits.

ECO 440 — Regional Economic Integration
Examination of the economic integration of regions of the world: EU, APEC, ASEAN, AU, MENCUSOR and others. Students learn about the principles and the process of regional economic integration, the challenges and benefi ts of economic integration, and how factors of production impact and are impacted by the process. The issue of disparities and convergence are also evaluated. Prerequisite(s): ECO 100 or 101, and junior or senior status. 3 credits.

ECO 497 — Internship
A supervised internship in business or government with the application of economic theory to problems of enterprise administration. Bi-weekly reporting to the faculty supervisor is necessary. Prerequisite(s): senior status and departmental permission. 3 credits.

ECO 499 — Independent Study
Research of a high quality meeting the standards of the department faculty director. Prerequisite(s): senior status and departmental permission. 3 credits.