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2012-2013 Academic Catalog and Handbook

Economics (ECON) Courses

Additional courses are listed under Accounting and Business.

ECON 201 Principles of Microeconomics
 3 hours. An introduction to the micro aspects of the social science concerned with the allocation of resources. Consideration is given to the fundamental principles governing production, distribution, consumption, and exchange of wealth. The course studies the behavior of microeconomic units such as individuals, households, firms, and industries. ECON 201 and ECON 202 are complementary courses; however, either course may be taken first.

ECON 202 Principles of Macroeconomics
 3 hours. An introduction to the macro aspects of the social science concerned with the allocation of resources. Consideration is given to the fundamental principles of the economy as a whole, dealing with economic data, behavior, and theory at the aggregate level of the economy. The course studies topics such as government spending, taxation, and monetary policies, as well as events and issues in the global economy. ECON 202 and ECON 201 are complementary courses; however, either course may be taken first.

ECON 275 Field Experience
 3-6 hours. Supervised experiences in business, financial and research firms, and government agencies.
Prerequisite: upper-division students and by permission.

ECON 285 Selected Topics
 2-3 hours. Occasional special courses chosen to fit the interests and needs of students and faculty.

ECON 301 Intermediate Microeconomics
 3 hours. This course focuses on the following topics: basic theory of consumer behavior; production and costs; partial equilibrium analysis of pricing in competitive and monopolistic markets; general equilibrium; welfare; and externalities. The approach involves advanced algebra and rigorous application of concepts and methods to the analysis of markets from a decision making perspective. While required for economics majors this course is also valuable for student majoring in finance and management.
Prerequisites: ECON 201 Principles of Microeconomics and MATH 190 Precalculus Mathematics or higher.

ECON 302 Intermediate Macroeconomics
 3 hours. The course studies the economy as a whole by examining the national income account, monetary policy and its aggregates such as money supply, price level, and interest rates, and fiscal policy and its aggregates such as real income, consumption, and investment. It covers topics presented in ECON 202 in a more advanced manner. The course will analyze the economy in the long run when prices are flexible, in the very long run with a special emphasis on capital accumulation, and in the short run when prices are sticky. It also discusses the microeconomics behind macroeconomics by analyzing the aggregate consumption function in more detail.
Prerequisites: ECON 202 Principles of Macroeconomics and MATH 190 Precalculus Mathematics or higher.

ECON 340 Public Economics
 3 hours. An overview of the economic role and impact of government, including topics in public finance, fiscal policy, monetary policy, and the banking system, and the economics of regulation.
Prerequisites: ECON 201 Principles of Microeconomics and ECON 202 Principles of Macroeconomics.

ECON 370 Global Political Economy
 3 hours. An integrated view of the world economy, with particular attention to such topics as economic growth, debt crises, the distribution of wealth and income, the relationships between economic and political systems, the economics of peace and war, and environmental issues. (Identical to SOCI 370.)
Prerequisite: ECON 201 Principles of Microeconomics or ECON 202 Principles of Macroeconomics.

ECON 399 Cross-Cultural Study
 3 hours. This course offers in-depth discipline specific cross-cultural study designed to enhance the intercultural emphasis of various academic majors. The course includes class meetings followed by travel to various locations throughout the world. Students will use core disciplinary knowledge to serve, learn and interact with other cultures. (Offered in May Term. Students must meet eligibility requirements.) Additional course fee is required.

ECON 410 Introduction to Applied Econometrics
 3 hours. This course deals with the application of statistical techniques to the analysis of economic data. Economists, financial analysts and others rely on econometric methods to estimate relationships and forecast employment, income and other trends. This course emphasizes hands-on application of econometric techniques to a variety of publicly available data. Considerable attention will be paid to the nature and sources of economic data and the application of econometric methods to common questions of value to managers and public decision-makers.
Prerequisites: BUSN 240 Statistics for Business and Economics, MATH 240 Statistical Procedures, PSYC 340 Statistical Procedures, or SOCI 340 Statistical Procedures.

ECON 461 International Trade
 3 hours. An overview of international trade theory and its applications with respect to the direction of trade flows, determination of prices and volumes in international trade, the impact of tariffs and non-tariff barriers, and the role of bilateral and multilateral trade negotiations. Particular emphasis is given to the broader social impact of trade policy and patterns. (Identical to INTL 461 and SOCI 461.)
Prerequisites: ECON 201 Principles of Microeconomics.

ECON 462 International Finance
 3 hours. An overview of international monetary economics including the balance of payments, foreign exchange rate, the globalization of financial markets and its implications, international macroeconomic interdependence and capital flows. Particular attention is given to multilateral financial institutions and reform of the global financial architecture. (Identical to INTL 462 and SOCI 462.)
Prerequisites: ECON 202 Principles of Macroeconomics.

ECON 475 Field Experience
 3-6 hours. Supervised experiences in business, financial and research firms, and government agencies.
Prerequisite: upper-division students and by permission.

ECON 485 Selected Topics
 2-3 hours. Occasional special courses chosen to fit the interests and needs of students and faculty.

ECON 490 Economics Senior Seminar
 3 hours. An integrative seminar focusing on current issues and developments in the discipline of economics, including discussion of ethical issues and the integration of faith and economics. A research paper is a significant component of the course requirements.

ECON 495 Special Study
 2-3 hours. Subject matter and credit arranged for the needs of the individual student.
Prerequisite: upper-division students and by permission.

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