Course Descriptions

ECON 201—Principles of Micro Economics: 3 credits

This course introduces students to the way in which a free market economic system resolves the basic social questions of what goods and services to produce, how scarce resources are organized to produce these goods, and to whom the goods are distributed once they are produced. Students will explore the components of the market system, supply and demand, and how they interact under conditions ranging from perfect competition to monopoly.

ECON 202—Principles of Macro Economics: 3 credits

This course introduces students to the basic economic principles of the aggregate economy. Students will explore the determinants of, and relationships among, the level of Gross Domestic Product (GDP), unemployment, inflation, foreign trade and interest rates. In addition, various theories of the role of fiscal and monetary policy to promote stabilization will be addressed.

ECON 301—Intermediate Microeconomics: 3 credits

The purpose of this course is to develop the analytical skills required for dealing with problems of economic behavior and resource allocation, along with an appreciation of the methodological issues involved in modern economic analysis. The course covers the traditional body of microeconomic theory, including: utility theory and consumer behavior, the analysis of production and the behavior of the firm, coordination in product and factor markets under perfect competition, and the impact on market operations of monopoly, imperfect competition, externalities, asymmetric information, and public goods.

ECON 302—Intermediate Macroeconomics: 3 credits

This course provides the advanced economic student with a rigorous set of tools with which to evaluate the performance of the U.S. economy, both as a closed entity and as member of the global economy. On the theoretical side, the course evaluates competing theories of income, inflation, and employment. On the application side, students will be expected to find and empirically evaluate aggregate data.

ECON 319—Economics of Sports: 3 credits

Individuals in society today interact with sports as participants, fans and consumers. As such, sports markets have become an increasingly popular venue for economic research. This course will focus on the unique issues of the economics of sports. Using microeconomic theory and statistics, we will be considering, among others, the following topics: Price theory with regards to ticketing, local public finance with regards to stadium financing and event hosting, competitive balance, wagering market efficiency, and the labor market of both professional and amateur sports.

ECON 320—Labor Economics: 3 credits

This course is an analysis of the principles of wage and employment determination in the U.S. economy under nonunion conditions as well as under collective bargaining arrangements. The factors underlying labor demand and supply are studied with an emphasis on a human capital approach to relative earnings differentials. Issues of labor market discriminations are also analyzed.

ECON 325—Current Economic Issues: 3 credits

This course focuses on specific current economic issues. The course and its content vary. For example, topics might include the federal budget deficit, economics and politics, or global economic changes.

ECON 331—Environmental Economics: 3 credits

This course uses benefit cost analysis to explain the reasons for environmental pollution and to evaluate the efficiency of alternative abatement strategies and policies. Topics include air and water pollution, toxic waste cleanup, and alternative methods of valuing non-market resources such as clean air, public lands, and other natural resources.

ECON 345—International Economics: 3 credits

The course covers international trade theory and international monetary economics. Topics discussed include the classical and neoclassical theory of comparative advantage, balance of trade, balance of payments, custom's union theory, commercial policy, theory of foreign exchange markets, history of international monetary system, fixed versus flexible exchange rates. Offered every year.

ECON 353—Public Economics: 3 credits

This course teaches students how to apply economic principles in order to analyze and evaluate public expenditure and tax policies. Because value judgments are implicit in any type of analysis, students will be encouraged to consider the equity-efficiency tradeoff associated with many public policy decisions.

ECON 481W—Econometrics: 3 credits

Econometrics is the application of statistical methods for the purpose of testing economic and business theories. This course will introduce students to the skills used in empirical research including, but not limited to, data collection, hypothesis testing, model specification, regression analysis, violations of regression assumptions and corrections, dummy variables and limited dependent variable models. Extensive focus will be on the intuition and application of econometric methods, and as a result, statistical software will be used extensively. Students will be required to complete an independent research project involving the application of regression analysis.

ECON 484W—Advanced Econometrics: 3 credits

In this course, students learn how to apply statistical and econometric tools in an attempt to forecast economic and business data. Drawing on techniques learned in Econometrics, students collect data, build forecasts, evaluate the forecasts, and apply economic theory and econometric techniques to refine the forecasts. Emphasis is placed equally on the student correctly performing and concisely communicating the forecasts.

ECON 490W—Economics Senior Thesis: 3 credits

The purpose of this course is to sharpen the students' independent research skills utilizing all of the concepts, tools and techniques learned throughout the economics major. The course focuses on choosing research topics, framing research questions, developing research strategies, collecting data, writing reports, and presenting results. During the term, students undertake a substantive independent research project culminating in both a formal written paper and an oral research presentation to the economics faculty.