The major in economics is described below in three sections: the pre-major, the major core, and the major electives and I.S. Students who desire a more specifically business-oriented major should consider the major in Business Economics also offered by the Economics Department. Students who do not place into mathematics 104 (or 108 or 111) on the mathematics placement test should take mathematics 101 or mathematics 103 as soon as possible in their College career.
The major in economics is described below in three sections: the pre-major, the major core, and the major electives and I.S. Students who desire a more specifically business-oriented major should consider the major in Business Economics also offered by the Economics Department. Students who do not place into mathematics 104 (or 108 or 111) on the mathematics placement test should take mathematics 101 or mathematics 103 as soon as possible in their College career.
The major in economics is described below in three sections: the pre-major, the major core, and the major electives and I.S. Students who desire a more specifically business-oriented major should consider the major in Business Economics also offered by the Economics Department. Students who do not place into mathematics 104 (or 108 or 111) on the mathematics placement test should take mathematics 101 or mathematics 103 as soon as possible in their College career.
Barbara Burnell Amyaz Moledina Russell Ormiston John Sell Lisa Verdon James Warner
The Economics major is an academically challenging program that provides students
with a foundation for understanding market-based and alternative societies and the consequences of economic policy for individual and societal behavior. The require- ments are designed to provide the student with knowledge of theoretical and applied economics as well as the quantitative methods necessary for graduate study in eco- nomics or careers in business, law, or government service. Students who desire a more specifically business-oriented major should consider the major in Business Economics also offered by the Economics Department. The major in Economics is described below in three sections: the pre-major, the major core, and the major electives and I.S. The department recommends that students complete the pre-major courses by the end of their fourth semester. Students who do not place into Mathematics 104 (or 108 or 111) on the mathematics placement test should take Mathematics 101 or Mathematics 103 as soon as possible in their College career to prepare them for Mathematics 104 (or 108 or 111) and to provide a basis for their economics courses. Pre-major: ECON 101 — Principles of Economics and MATH 104 or MATH 108 or MATHs 111 and ECON 110 — Quantitative Methods for Economics and Business or MATH 241 — Probability and Statistics I The major core courses should be completed no later than the end of the student’s fifth semester. Note that Mathematics 104 or 108 or 111 must be taken prior to or con- current with Economics 202. The department recommends that students considering graduate study in economics enroll in Mathematics 111 rather than Mathematics 104 and that they also take calculus through Mathematics 112. Major core: ECON 201 — Intermediate Macroeconomics and ECON 202 — Intermediate Microeconomics and ECON 210 — Applied Regression or MATH 242 — Probability and Statistics II The elective courses in the major give students the opportunity to customize their course selections according to their interests. Note that Economics 210 or Mathematics 242 must be taken prior to or concurrent with Economics 401. The department strong- ly recommends that Economics 201 or Economics 202 be taken prior to enrolling in Economics 401. Electives and I.S.: Minimum of five additional economics elective courses. ECON 401 — Junior Independent Study ECON 451, 452 — Senior Independent Study Thesis Students majoring in Economics are not permitted to take courses in the major on an S/NC basis. A grade of C- or better is required for all courses counting toward the major, including the mathematics course(s). Students receiving a grade below C- in Economics 101 should retake that course before proceeding to the other Economics courses. A minor in Economics consists of Economics 101, 110, 201, 202, and two other 200- level economics courses, except Economics 210. A maximum of one business economics course selected from Business Economics 227, 230, 250, 255, 260, or 271 may be counted toward an Economics major, but not a minor. 101. PRINCIPLES OF ECONOMICS An introductory study of the fundamental principles of the opera- tion of the market system, the determination of national income, and the role of money in the economy. The department strongly recommends that students display a mathematics proficiency at the level of Mathematics 100 or above before enrolling in Economics 101. Annually. Fall and Spring. [Q, #] 110. QUANTITATIVE METHODS FOR ECONOMICS AND BUSINESS An introduction to analytical decision-making and its role in business and economic policy. The course includes a discussion of the limita- tions of quantitative methods and illustrates various techniques with computer applications. Prerequisite: Economics 101. Annually. Fall and Spring. [Q, #] 201. INTERMEDIATE MACROECONOMIC THEORY An analysis of the theory of national income determination, employment, and inflation, including a study of the determinants of aggregate demand and aggregate supply. Prerequisite: Economics 101. Sophomore standing or permission of instructor. Annually. Fall and Spring. [#] 202. INTERMEDIATE MICROECONOMIC THEORY The theory of the firm and the industry; the analy- sis of price determination under market conditions, ranging from pure competition to monopoly; resource allocation. Prerequisite: Economics 101. Pre- or co-requisite: Mathematics 104. Sophomore standing or per- mission of instructor. Annually. Fall and Spring. [#] 205. HISTORY AND PHILOSOPHY OF ECONOMIC THOUGHT An analysis of the development of economic thought and method, with emphasis on the philosophical bases and historical context for alterna- tive schools of thought. The course will examine the important characteristics of alternative schools of thought (e.g., Marxist, neoclassical, institutional), and will consider the implications of these alternative schools for economic research and policy. Prerequisite: Economics 101. Alternate years. Not offered 2009-2010. [W, #] 210. APPLIED REGRESSION Application of multiple regression analysis to economics. Particular atten- tion is paid to identifying and correcting the violations of the basic model. Consideration of special topics, including time series analysis, limited dependent variables, and simultaneous models. Prerequisite: Economics 110. Annually. Fall and Spring. 215. MONETARY ECONOMICS The role of money and the nature of the Federal Reserve’s management of the monetary system are examined in the context of the U.S. financial system and economy. Topics include the term structure of interest rates, economic effects of banking regulations, formulation and execution of monetary policy, and transmission channels through which monetary policy affects employment and infla- tion. Prerequisite: Economics 201. Alternate years. Offered 2009-2010. 216. PUBLIC FINANCE An investigation of the economics of the public sector to determine an optimum level and structure of the revenues and expenditures of government; includes the relation between govern- ment and the private sector, the theory of public goods and collective decision-making, cost-benefit analysis, the structure and economic effects of various taxes, and inter-governmental relations among federal, state, and local governments. Prerequisite: Economics 202. 224. INTRODUCTION TO ECONOMETRICS A discussion of the mathematical and theoretical foun- dations of the classical linear regression model and extensions of that model. Prerequisite: Economics 210. Alternate years. Not offered 2009-2010. 232. LABOR ECONOMICS An application of economic theory to the labor market, with particular emphasis on the U.S. labor market. Topics include: labor demand, labor supply, human capital theory, theories of labor market discrimination, unions, and inequality in earnings. Prerequisite: Economics 101. Fall 2009-2010. [#] 240. ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS An examination of the econom- ic use of natural resources in society: the economic implications of finite resource supplies, renewable resource supplies, and the use of environmental resources with consideration of policy options regarding optimal resource use. Prerequisite: Economics 101. Alternate years. Not offered 2009-2010. [#] 245. ECONOMICS OF GENDER (Women’s, Gender, and Sexuality Studies) An investigation of the rela- tionships between economic institutions (e.g., labor force, family, and government) and the role of women in our society, and the implications of the changing role of women for institutional change. Focus on the way tra- ditional tools of economic analysis have been used to address issues that affect women’s economic status, and on feminist critiques of these methods. Prerequisite: Economics 101. Alternate years. Not offered 2009-2010. [#] 246. ECONOMICS OF RACE This course investigates the role of race in economic decision-making. Theoretical and empirical aspects of labor markets, housing markets, and income inequality will be consid- ered. Prerequisite: Economics 101. Alternate years. Not offered 2009-2010. [#] 247. INDUSTRIAL ORGANIZATION An application of microeconomic theory to firms and industries. Topics include market structure, pricing practices, advertising, antitrust, and public policy. Prerequisite: Economics 202. Alternate years. Not offered 2009-2010. 251. INTERNATIONAL TRADE (International Relations) An examination of the basis for international trade. Evaluation of the distributional effects of trade and alternative trade policies. Analysis of free trade areas and economic integration, including the European Union and NAFTA. Prerequisite: Economics 101. Alternate years. Not offered 2009-2010. [#]
252. INTERNATIONAL FINANCE (International Relations) An analysis of the international financial
system and policy issues related to world economic interdependence. Topics include exchange rate determi- nation, balance of payments adjustments, monetary and fiscal policies in the open economy. European Monetary Union and issues of development and transition are also included. Prerequisite: Economics 201. Alternate years. Not offered 2009-2010. 254. ECONOMIC DEVELOPMENT (International Relations) An analysis of the conditions and patterns of economic growth in developing economies, study of growth models, problems of external assistance and internal capital formation. Prerequisite: Economics 101. Annually. Fall 2009-2010. [#] 261. URBAN ECONOMICS (Urban Studies) An analysis of economic activity in the spatial context of urban areas from the perspective of inefficient resource allocation resulting from externalities; theories of industrial location, land use, housing markets; application of models to urban problems of growth, land use, slums, ghettos, transportation, pollution, and local government, etc., with consideration of alternative policy options. Prerequisite: Economics 101. Annually. Spring 2009-2010. [#] 263. LAW AND ECONOMICS An examination of law and legal institutions from the perspective of eco- nomics. Economics is used to explain aspects of common and statute law, and legal cases illustrate economic concepts. Prerequisite: Economics 101. Alternate years. Not offered 2009-2010. [#] 268. HEALTH ECONOMICS An application of economic theory to the market for medical care and health insurance. Other topics include the role of government in these markets, health care reform, and international comparison of health care systems. Prerequisite: Economics 101. Alternate years. Not offered 2009-2010. [#] 390. SPECIAL TOPICS IN CONTEMPORARY ECONOMICS A seminar designed for the advanced major. Topics vary to reflect current business and economics problems. Prerequisites: Economics 101, and permission of instructor. 401. INDEPENDENT STUDY Prerequisite: Economics 110. Co- or prerequisite: Economics 210. Annually. Spring 2009-2010. 451, 452. INDEPENDENT STUDY THESIS