Economics Courses
Social Science Division
ECON 101*
Introduction to Macroeconomics
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Macroeconomics is the study of the
national economy. After an
introductory examination of how
mixed capitalism deals with the
problems of scarcity and choice, the
course details national income
accounting and business cycles
which serve as a foundation for
understanding the mechanics and
usefulness of fiscal and monetary
theory and policy.
Prerequisite: MAT 102 or
equivalent.
Every Semester, 3 Credits
ECON 102*
Introduction to Microeconomics
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Microeconomics examines how
capitalism answers three
fundamental questions which all
economic societies must resolve:
what will be produced, how will
output be produced, and for whom
will output be produced. Marginalist
thinking serves as a foundation for
understanding consumer decision-
making. Production and cost theory
are developed to explain
competitive supply. The effects of
imperfect competition (monopolistic
competition, oligopoly and
monopoly) and regulation upon the
economic framework are assessed.
An analysis of factor markets (land,
labor, capital) under various degrees
of competition concludes the
course.
Prerequisite: MAT 102 or
equivalent.
Every Semester, 3 Credits
ECON 301
Intermediate Macroeconomics
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Intermediate Macroeconomics is an
in-depth examination of the
aggregate economy. National
income and product accounts, and
price indexes are constructed and
critically evaluated for inherent
bias. Sectoral analysis (alternative
theories of the consumption
function, investment function and
money demand function) serve as a
foundation for the demand side of
the economy. The supply side is
constructed and integrated into prior
models. The mechanics of how
economic expectations are formed,
and how they affect prices, interest
rates, production and employment is
given considerable treatment. The
cyclical behavior of unemployment
and inflation, under adaptive and
rational expectations, is reviewed.
The course examines the impacts of
various fiscal and monetary policy
on the economy.
Prerequisites: ECON 101,
220.
On Occasion, 4 Credits
ECON 302
Intermediate Microeconomics
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Intermediate Microeconomics is a
rigorous examination of how mixed
capitalism allocates resources and
distributes income and the effect, if
any, of imperfect competition upon
social welfare. The course begins
with an in-depth presentation of
demand theory and elasticity:
marginal utility and indifference
curve analyses are utilized to derive
the demand curve. Production
theory, under Cobb-Douglas
conditions, serves as a foundation
for cost and competitive supply. The
necessary and sufficient conditions
for profit maximization are derived
under competitive and monopolistic
conditions. The resource market is
investigated under competitive,
imperfectly competitive and
monopolistic conditions. A model
of general equilibrium unifies the
presentation. Throughout the
course, standard tools of
mathematical reasoning are
introduced, explained and given
economic form.
Prerequisites: ECON 102,
220.
On Occasion, 4 Credits
ECON 320
Economics and Business Statistics I
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The student will be introduced to
data collection, descriptive
statistics, probability distributions,
covariance, hypothesis testing,
ANOVA, simple regression,
multiple regression, and time series.
Each student will design a study,
collect the necessary data, use a
packaged statistics computer
program to perform regression
analysis, and interpret the results.
Prerequisite: MAT 106,
DP 110,
On Occasion, 3 Credits
ECON 340
Money, Banking and Financial Markets
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Topics include: Description of
money and capital market
instruments and systems; role of
money in a capitalistic system;
commercial banking and Federal
Reserve policy-making; the
structure and operation of financial
markets; analysis of the formation
of interest rates and the effect of
inflation upon those rates;
Keynesian and Monetarist models
of the national economy are
constructed and evaluated in light of
contemporary evidence; a study of
risk and uncertainty serving as a
basis for understanding portfolio
theory; an assessment of the
responsibilities of the domestic
banking community to international
financial order.
Prerequisites: ECON 101,
102.
On Occasion, 3 Credits
ECON 350
Quantitative Methods for Public Administration
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This class provides the student with
a working knowledge of research
methods and statistics relevant to
business. The student will be able to
compute elementary statistics,
understand the logic and be able to
interpret some of the more
commonly used multivariate
statistics, and to converse
knowledgeably with researchers.
Prerequisite: Completion of
ECON 360
International Trade and Finance
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The pure theory of international trade develops and
places in historical perspective: Mercantilism, Absolute
Advantage, and the evolution of Comparative Advantage as a basis
for the modern explanation for trade, the Heckscher-Ohlin
hypothesis, Commercial policy, i.e. tariffs and quotas, and its
effect on social welfare. International economic integration
and cooperation as a means of promoting growth is developed.
The international finance section focuses upon the adjustment of
Balance of Payment disequilibria under regimes of fixed gold
standard and flexible exchange rates. The mechanics of the
foreign exchange market is given considerable attention.
Supplemental readings will stress policy implications and
debates.
Prerequisites: ECON 101,
102.
On Occasion, 3 Credits
ECON 373
Public Finance
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This course extrapolates the public sector for analysis.
The theory of public goods is closely examined, specifically the
process through which individual preferences are transformed
into collective goods. The structure of Federal, State and
Local expenditures is detailed. Federal, State and Local taxes
are described and their incidence examined. The course
concludes with an examination of fiscal policy, used to promote
economic stability under Classical and Keynesian assumptions.
Prerequisites: ECON 101,
102.
On Occasion, 3 Credits
ECON 380
Environmental Economics
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Environmental economics is an applied field of
microeconomics. Environmental problems occur because of market
failures which are attributable to the inability to define
property rights in certain situations. Two specific cases of
market failure are examined in detail, externalities and the
problem of commons. The private market's failure to properly
allocate resources prompts governmental intervention. The form
and extent of governmental intervention influences social
welfare. This course explores the causes and components of
environmental problems. It then examines and evaluates various
environmental control strategies (both current and proposed) in
terms of their ability to yield optimal social
decisions.
Prerequisites: ECON 102 or
MAT
106 or permission of instructor.
Fall, 3 Credits
ECON 399
Practicum in Economics
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A part-time field experience in economics supervised
by a faculty member, with the permission of the program
director.
1 to 4 Credits
ECON 420
Operations Research
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This course is a survey of quantitative methods used in
the managerial decision-making process. Methods surveyed
include linear programming, the simplex method, CPM/Pert,
Networks, and decision analysis. The computer will be utilized
to assist in the solution of applied problems.
Prerequisites: ECON 220,
320.
On Occasion, 3 Credits
ECON 473 (BUS 473)
Investment Analysis
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This course will emphasize portfolio
management techniques and
problems including risk
diversification, risk management,
the concepts of specific, systematic
and inherent risk and probability
analysis. Emphasis will be placed
on forecasting efficient capital
market results. Both debt and equity
capital markets will be analyzed.
With this acquired expertise, the
student will be able to integrate and
cultivate a specific area of interest
in portfolio management.
On Occasion, 3 Credits
 
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