Course Descriptions

ECON-001
3 credits
Principles of Economics I
Introduction to macroeconomic analysis and its application to the American economic system. Includes such major topics as the economic role of government, the banking system, the determination and measurement of national income, economic growth, and elements of monetary and fiscal policies.

  

ECON-002
3 credits
Principles of Economics II
Continuation of Principles I. Considers the problem of scarcity and allocation of resources in a free enterprise economy, with special emphasis on the pricing behavior of business firms, on agriculture and business, the consumer, and labor unions.

  

ECON-132
3 credits 
Political Economy
Examination of the links between economic and political processes, along with an extension of economic theory beyond its traditional boundaries in order to consider the various political processes through which economic processes are either altered or transformed.

  

ECON-170
3 credits 
Intermediate Microeconomic Theory
Microeconomics course that views the price system in a market-oriented economy, with special emphasis given to theories relating to the consumer and firm behavior, demand, market organization, production, cost, distribution, and economic welfare.
Prerequisites: ECON-002

 

ECON-171
3 credits 
Intermediate Macroeconomic Theory
Macroeconomics is the study of the economy as a whole. This course examines modern economic growth theory, consumption and saving behavior, investment, and unemployment. These topics will provide tools that will be used to understand recent experiences in the United States and other countries.
Prerequisites: ECON-001

  

ECON-172
3 credits 
Industrial Relations
General course in labor problems which examines the basic character of the problems involved in the determination and administration of wages.

  

ECON-173
3 credits 
Collective Bargaining, Public Policy
Deals with the development, analysis, and significance of collective bargaining; labor and employer organization and public policy toward unionism and collective bargaining.
Prerequisites: ECON-001 and ECON-002

  

ECON-174
3 credits 
Labor Law and Social Legislation
Considers the matter of government intervention in industrial relations and analyzes cases relating to the following areas: criminal conspiracy and other early doctrines, subversive activities, application of the Sherman Act, the legality of economic tactics employed by labor and management, bargaining rights, wage-hour legislation, fair employment practices, and civil rights.
Prerequisites: ECON-001 and ECON-002

  

ECON-175
3 credits 
History of Economic Thought
Survey of the history of economic thinking from the ancient Graeco-Roman economics to the classical school, including criticism and the consequences of their influence upon the evolution of neoclassical doctrines and the development of present day economic thought.
Prerequisites: ECON-001

  

ECON-177
3 credits 
Growth of the American Economy
Concerns the process of economic growth from the colonial period to the present day, stressing the interrelationships of changes in various sectors.
Prerequisites: ECON-001 and ECON-002

  

ECON-180
3 credits 
Statistics for Business and Economics
Examines the basic statistical methods and their use for economics and business, including averages, measures of dispersion, testing hypotheses, elementary probability theory, index numbers, time series analysis, and simple correlation, with emphasis placed on descriptive statistics.

  

ECON-181
3 credits 
Data Analysis and Financial Literacy in R
Introduction to data exploration and analysis with R, with an emphasis on financial literacy topics. Provides a supportive, hands-on environment to learn marketable data analysis skills in R, a cutting-edge statistical programming language, while building upon and applying their existing knowledge of econometrics and statistics. A large part of the course involves working with Federal Reserve economists to create and present economic research projects based on real world economic data. 
Prerequisites: ECON-184

  

ECON-182
3 credits 
Mathematics for Economics
Includes calculus, matrix algebra, and maximization problems, with applications for economics problem solving. 
Prerequisites: MATH-026

  

ECON-183
3 credits 
Mathematical Economics
Mathematical exposition of the basic theories of economic behavior.
Prerequisites: ECON-182 or 015-026

  

ECON-184
3 credits
Introduction to Econometrics
Introduction to econometric theory and techniques. First part of the course deals with theory of the two-variable regression model and technical practices of its application. Extension to a three- variable model illustrated and analyzed. Special topics such as use of lagged and dummy variables, and problems such as multicollinearity, autocorrelation, and heteroskedasticity are considered.
Prerequisites: ECON-180

  

ECON-185
3 credits 
Labor Economics
Analysis of institutions concerned with utilization of human resources; the growth, organization, and objectives of management and trade unions; and major labor issues and problems, including those connected with collective bargaining.
Prerequisites: ECON-001 and ECON-002

  

ECON-186
3 credits 
Economic Development in Africa
Survey of economic issues in Africa, including an analysis of the transition to a market economy; the development of trade, industry, and agriculture; and the theory and policy of economic development and planning.
Prerequisites: ECON-194

  

ECON-187
3 credits 
Comparative Economic Systems
Presents the theories, programs, and practices of the principal economic systems, with special reference to countries that are heavily dependent on market mechanisms and to countries that rely strongly upon central command.
Prerequisites: ECON-001 and ECON-002

  

ECON-188
3 credits 
The Economics of Black Community Development
Economic analysis of the problem of rapid technological change under the condition of oligopolistic pricing and the effects upon the well-being of the labor force, with particular reference to the black community. Special attention is given to the problem of economic and financial reorganization of the ghetto economy, together with the problem of shifting to labor-using capital expansion to expand employment and raise real income in the black-owned sector.
Prerequisites: ECON-001 and ECON-002

  

ECON-189
3 credits 
Industrial Organization
Examines the organization of American industry under various states of the market, including antitrust cases.
Prerequisites: ECON-170 and ECON-171

  

ECON-190
3 credits 
Public Finance
Designed to acquaint students with the role of the government (federal, state, and local) in the economy. Fundamentally aims to equip students with the prevailing theories and practices of fiscal institutions in our economy, with emphasis on their allocation, distribution, and stabilization functions
Prerequisites: ECON-001

  

ECON-191
3 credits 
International Economics
Discusses such topics as national specialization and international exchange, the significance of international trade to various countries, financial problems, economic development, and common markets.
Prerequisites: ECON-001 and ECON-002

  

ECON-192
3 credits 
International Commercial Policy
Examines the problems of free trade and protectionism and their changes through history.
Prerequisites: ECON-191

  

ECON-193
3 credits 
The Economics of Decision Making
Concerns decision making in a complex industrial model, the negotiated market model, and the centralized model. The following questions are considered in the different models: Who makes the decisions? For whom and toward what goals are these decisions made? What is the structure of the decision-making hierarchy? How are decisions made? What variables are manipulated in the execution of decisions?
Prerequisites: ECON 170 and ECON 171

  

ECON-194
3 credits 
Theory of Economic Development
Treats the theories, models, and patterns of economic development of advanced and less developed economies and analyzes the economic and noneconomic variables that influence economic development, including some historical theories and approaches to economic development. 
Prerequisites: ECON-001 and ECON-002

  

ECON-195
3 credits 
Money and Banking
Introduction to the study of money, credit, interest rates, and banking, both within and outside of the Federal Reserve System, with major emphasis on the structure and operations of commercial banks and activities of the Federal Reserve System.
Prerequisites: ECON-001

  

ECON-196
3 credits 
Monetary Analysis
Designed to acquaint the student with the principal monetary theory and its applications to the economy, is concerned with the theory of money supply and demand and their effects on macroeconomic models. Such important matters as the theory of monetary policy and inflation theory and their effects on economic growth are also emphasized.
Prerequisites: ECON-195 and ECON-171

  

ECON-197
3 credits 
Economic Problems of Western Europe
Analysis of the development of the economies of Western Europe with special reference to the period following World War II.
Prerequisites: ECON-001

  

ECON-198
3 credits 
The Soviet Economy
Deals with the development of the Soviet state and its trade, agriculture, finance, standard of living, and ideological background
Prerequisites: ECON-001 and ECON-002

  

ECON-199
3 credits 
Introduction to Urban Economics
Analysis of the special economic problems of urban regions, e.g., growth and development, a hierarchy within a system of urban regions, housing, transportation, urban poverty, and local public finance. Emphasis is on the economics of the spatial order within and among urban regions.
Prerequisites: ECON-001 and ECON-002

  

HONORS COURSES

ECON-084/085
1 credit each
Directed Readings for Sophomores
Prerequisites: Cumulative GPA of 3.2

  

ECON-088/089
1 credit each 
Directed Readings for Juniors
Prerequisites: Cumulative GPA of 3.2

  

ECON-092/093
3 credits each 
Senior Departmental Honors 
Prerequisites: Cumulative GPA of 3.2