Economics (EC)

EC 111. Principles of Microeconomics.3 Credits.

This course examines scarcity and choice, demand and supply, government price setting and taxes, elasticity, production and cost, and the theory of the firm. A writing component is required.

Offered: Every year, Fall and Spring

EC 111H. Honors Principles of Microeconomics.3 Credits.

This examination and application of basic economic theory considers scarcity and choice, demand and supply, elasticity, consumer theory, firm theory and market structure. A writing component is required. Calculus is used in this course.

Offered: Every year, Fall

EC 112. Principles of Macroeconomics.3 Credits.

This course examines the determinants of national income, unemployment and inflation. In addition, students learn how fiscal policy and monetary policy influence the economy. A writing component is required.

Prerequisites: Take EC 111.
Offered: Every year, Fall and Spring

EC 112H. Honors Principles of Macroeconomics.3 Credits.

This examination and application of basic macroeconomic theory covers scarcity and choice, unemployment and inflation, national income accounts, Keynesian and alternative models of income determination, fiscal policy and monetary theory and policy. A writing component is required. Calculus is used in this course.

Prerequisites: Take EC 111.
Offered: Every year, Spring

EC 200. Special Topics in Economics.3 Credits.

This course introduces students to basic economic concepts and their applications in the modern world, including the government's role in health care, the distribution of income and wealth, public spending and taxation, and the banking system. Written compositions are required.

Offered: As needed

EC 205. Current Economic Issues.3 Credits.

This course includes discussion and analysis of current economic issues as determined by the news, students' interest and instructor discretion.

Prerequisites: Take EC 111 EC 112.
Offered: Every other year, Spring

EC 206. Urban Economics.3 Credits.

This course provides an economic analysis of urban problems and potential policy solutions to those problems. Topics include land use patterns and zoning, poverty, housing, crime, education, transportation and environmental issues. As part of the course, students build their own city and address all of these issues through the Sim City simulation.

Prerequisites: Take EC 111.
Offered: Every other year, Spring

EC 211. Intermediate Microeconomics.3 Credits.

This advanced analysis of microeconomic theory includes study of consumer theory with use of indifference curves and budget constraints, firm theory with use of isoquants and isocosts, market structures and market failures. Calculus is used in this course.

Prerequisites: Take EC 111.
Offered: Every year, All

EC 212. Intermediate Macroeconomics.3 Credits.

This course helps students to understand two phenomena: long-run growth and business cycles. The section of the course devoted to long-run growth emphasizes the importance of technological change for increasing the standard of living. The section devoted to business cycles emphasizes the causes of these cycles and the roles of fiscal and monetary policy in preventing business cycles. Computer assignments using spreadsheet or statistical software are an essential part of this course. Calculus is used in this course.

Prerequisites: Take EC 112.
Offered: Every year, All

EC 271. Applied Statistical Methods.3 Credits.

This course teaches statistical methods and concepts used in business decision making. Topics include descriptive statistics, sampling distributions, estimation, hypothesis testing, correlation, linear regression.

Prerequisites: Take one of the following: MA 107 MA 110 MA 118 MA 140 MA 141 or MA 151.
Offered: Every year, All

EC 272. Advanced Applied Statistics.3 Credits.

This course teaches statistical methods and concepts used in business decision making and social science research. Topics include sampling distributions, estimation, hypothesis testing, correlation, linear regression and forecasting.

Prerequisites: Take MA 170 or MA 206.
Offered: Every year, All

EC 304. Environmental Economics.3 Credits.

This course examines environmental issues and their economic impact. Topics include economic efficiency both in market and nonmarket activities; dynamic efficiency for nonrenewable and renewable resources; how environmental problems are modeled from an economic perspective; and principles of environmental policy design at the state and federal level.

Prerequisites: Take EC 111.
Offered: Every other year

EC 312. Economic Growth.3 Credits.

This course discusses the determinants of long-run economic growth. In particular, it discusses how government policy promotes and inhibits economic growth. The course is a combination of analytical models, empirical facts and policy discussion.

Prerequisites: Take EC 112.
Offered: Every other year

EC 320. Law and Economics.3 Credits.

This course covers the application of microeconomic theory to the law. Topics covered include the efficiency and welfare aspects of property rights, contract law, torts and criminal law, and the impact of changes in the law on economic agents.

Prerequisites: Take EC 111.
Offered: Every other year

EC 325. Sports Economics (SPS 325).3 Credits.

The primary focus of this course is professional sports. Topics include microeconomic foundations of sports economics, industrial organization of the sport industry, antitrust and regulation, financing sports stadiums, labor issues and the economics of college sports.

Prerequisites: Take EC 111.
Offered: Every other year

EC 330. Public Finance.3 Credits.

This course examines the role of government in the economy. Tools of economic analysis are applied to government taxation and expenditure policies. The efficiency and welfare implications of government intervention in the economy are analyzed.

Prerequisites: Take EC 111.
Offered: Every other year, Fall

EC 341. Money and Banking.3 Credits.

This examination of the institutions and theory of monetary systems considers the domestic and international macroeconomic impacts of changes in monetary policy.

Prerequisites: Take EC 112.
Offered: Every other year

EC 350. International Economics.3 Credits.

This course examines international trade theories, trade policies, exchange rate determination models and macroeconomic policies in open economies.

Prerequisites: Take EC 112.
Offered: Every other year

EC 352. Industrial Organization.3 Credits.

Market structures are examined with an emphasis on the imperfectly competitive markets. Market failures and regulation and antitrust also are considered.

Prerequisites: Take EC 111;
Offered: Every other year

EC 355. Game Theory.3 Credits.

Applied game theory analysis of real-world strategic environments in economics and business. Topics include: Normal form games, Nash equilibrium, mixed strategies, repeated games, sequential games with perfect and imperfect information, sub-game perfect equilibrium, and principal-agent problems.

Prerequisites: Take EC 111.
Offered: Every other year

EC 361. Labor Economics.3 Credits.

This course examines the application of microeconomic theory to labor markets and also considers, unions, labor market, immigration, discrimination and other topics.

Prerequisites: Take EC 111.
Offered: Every other year

EC 363. American Economic History.3 Credits.

This study of the major economic factors that have influenced the growth of American society considers the interaction of economic and non-economic considerations. Factors include European background, colonial period, agricultural economy and developing frontier, rise of factory system. Industrial society is evaluated. Methods of production, organization of the labor force, immigration and urbanization, the development of science-based technology, and present problems and prospects also are explored.

Prerequisites: Take EC 112.
Offered: As needed

EC 364. Managerial Economics.3 Credits.

This course considers the application of microeconomic theory to firm management, firm theory, market structures. It includes basic applied regression analysis.

Prerequisites: Take EC 111.
Offered: As needed

EC 365. Econometrics.3 Credits.

This course provides an introduction to the statistical methods and tools used in applied economic research. Topics include model specification estimation, and inference in the simple and multivariate regression model. The use of statistical software is required.

Prerequisites: Take EC 112; and EC 271 EC 272 MA 206 MA 275 MA 285 or PS 206.
Offered: Every year, All

EC 366. Advanced Econometrics.3 Credits.

This course surveys econometric methods and tools that are particularly useful for applied microeconomic research. The course is structured around a series of projects that require students to build and estimate econometric models. Lectures complement the projects by providing the link between econometric theory and actual empirical practice.

Prerequisites: Take EC 365.
Offered: As needed, Fall

EC 375. Development Economics.3 Credits.

This course analyses the economic issues facing developing countries around the world. Topics include international aid, inequality, the determinants of economic growth, corruption, education and human capital, micro-financing, and the role of multinational firms in these impoverished regions.

Prerequisites: Take EC 112.
Offered: Every other year, Fall

EC 396. Economics Internship.3 Credits.

Internships in economics must be approved by the department chair and the dean in accordance with college regulations.

Offered: As needed

EC 399. Independent Study.1-6 Credits.

EC 450. Senior Seminar.3 Credits.

This capstone seminar is designed for senior economics majors. Students draw on the tools developed in the economics program to produce a research paper or project on an original topic. Students may be required to present their results and conclusions to the class and other faculty members. Topics are chosen by the student in consultation with the instructor.

Prerequisites: Take EC 211 or EC 212 and Senior Standing.
Offered: Every year, All

EC 498. Special Topics in Economics.1-6 Credits.

Independent study of special topics. Permission of sponsoring faculty, department chair and dean required.

Offered: As needed