Economics

Economics Minor

The Economics Minor provides an opportunity for students in any ma-jor to study how societies produce, distribute, and consume goods and services in traditional, command, and market economics. Students can gain an understanding of the reasons for – and alternative policies to deal with – issues such as inflation and deflation, employment and unemployment, and economic stability and growth. The Economics Mi-nor supplements studies in other disciplines and increases students’ understanding of political and economic issues.

In addition to constituting a minor, the study of economics can also be pursued as an area of emphasis in the Social Sciences major. (See Social Sciences section for program details.) Courses in economics may be taken for liberal arts credit.

Degrees and Certificates

Courses

EC 211: Macroeconomics

Credits 3
An introduction to the structure and methods of the American economic system; basic concepts of national income, employment, economic growth and fluctuations, money and banking, and distribution of wealth and income; examines current economic problems.

EC 212: Microeconomics

Credits 3
An introduction to the foundations of economic analysis, including the following topics: factors of production, profit, supply and demand, opportunity cost, costs and allocation of resources, pricing, market structure, business monopoly and competition, role of government.

EC 321: Intermediate Macroeconomics

Credits 3
This course will cover current ideas in Economics, including fluctuations, unemployment, government intervention, interest rates, and new classical as well as Keynesian and classical theories. The intent will be to present the range of current ideas on stabilizing the economy.

EC 322: Intermediate Microeconomics

Credits 3
An analysis of how prices are determined and resources distributed by the market. The course will look at, among other things, government intervention and corporate monopoly power and the proper allocation of resources in consumer society.

EC 331: Money and Banking

Credits 3
This course explores the nature of money and the institutions that create, control, and use it. The policies and practices of the Federal Reserve and other central banks are discussed in terms of monetary theory and their impact on society.

EC 338: Wealth and Poverty: Contemporary Economic Issues

Credits 3
A review and evaluation of the bases for wealth creation in society, along with the problems of poverty. The course will provide an historical overview of the sources of societal wealth and the presence of poverty. It will consider some of the value systems underlying different views as to how economic society should be organized. Each student will prepare and present to the class a paper on a currently relevant societal issue relating to wealth creation or poverty reduction.

EC 340: Global Economic Issues

Credits 3
An investigation into the causes of and possible solutions to current economic problems. The issues to be discussed in a given semester will be based on their currency, their import, and the degree to which they are economic in nature. Topics may include the effects of globalization on different societies; the alleviation of famine and disease; technology transfer, economic integration, and economic growth; income distribution and redistribution; unemployment, immigration, and population growth; illegal drugs, terrorism, and civil unrest.

EC 435: World Economics

Credits 3

This course will describe how international economics and finance differ from traditional macroeconomics, microeconomics, and finance. It will highlight the benefits of specialization and trade (both absolute and comparative advantage), the operations of the foreign exchange markets, open and closed economies, alternative economic systems and transitional economies. Current trends and events in international economics and finance will be explored by students utilizing Power Point presentations.

EC 442: Urban Economics

Credits 3
An analysis of the economics of urban and suburban social structures and how they change over time. Questions of state and local taxation and spending, interaction with the federal government, economic growth, and the impact of regional development will be considered.

EC 443: Public Finance

Credits 3
Financing and budgeting activities in the public sector are examined. Topics include types and principles of taxation, cost-benefit analysis, government institutions, fund accounting, and budget processes. Current issues, such as Social Security and Medicare, the effects of demographic shifts, health care financing, and the impact of tax and spending patterns on overall economic activity are discussed.