Economics Courses

306-11500    Current Economic Issues      SS LA 1b

The study of economic issues tied to selected topics such as unemployment and inflation, budget deficits, health care reform, trade policy, poverty, discrimination and welfare reform, environmental pollution control policy, and energy policy. 3 credits. (IRR)

306-12100    Principles of Macroeconomics      SS LA 1b

 Introduction to economics as a discipline and as an analytical approach to problem solving. Macroeconomics includes the following topics: production-possibilities frontiers, determination and measurement of national income, business cycles, money and banking, federal reserve system, fiscal and monetary policies, schools of economic thought, business organizations, taxation, social versus private goods, price levels, and applications to current economic problems. 3 credits. (S,Y)

306-12200    Principles of Microeconomics      SS LA 1b

Introduction to microeconomics, with topics such as determination of price by supply and demand, theory of consumer demand and utility, analysis of costs and supply, market structures and industry organization including monopoly, distribution of income, pricing of productive resources (wages, interest, profits, and rents), international economics, comparative economic systems, and applications to current economic problems. 3 credits. (F,Y)

306-22000    Managerial Economics      LA

 The application of microeconomic theories to managerial decisions with respect to production, pricing, auction behavior, and market participation. Topics include pricing and strategy decision making in the context of auctions, perfect competition, and imperfect competition; production and cost considerations; how to influence competitor behavior; how to react to competitor behavior; understanding and applying marginal analysis (e.g., marginal cost, marginal revenue). Prerequisites: 306-12100; 306-12200. Not open to students who have earned credit for 883-30100. 3 credits. (S)

306-26200    Economics of Welfare Policies      SS LA 1b

 An investigation and critique of the present U.S. welfare system, leading to policy implications in the form of alternative systems that would be more cost effective. Economic criteria or optimality conditions provide the parameters for the critique. Social Security, AFDC, food coupons, housing programs, and the relationships between work incentives and welfare are analyzed. Alternatives, such as negative income tax and a restructured welfare system, are studied. Designed primarily for social work minors, but others are encouraged to enroll. Prerequisites: 306-12100-306-12200; one course in humanities, social sciences, or business. 3 credits. (S,Y)

306-27000    The Economic Emergence of Women      SS LA 1b, h

Introduction to the economic issues and origins of women's new role in the economy. Topics include the economic impetus behind women's emergence, sex segregation on the job, the low wages of women, discrimination, the economics and policies of family care, and the industrialization of housework and child care. Prerequisites: 306-12100 or 306-12200; one course in humanities, social sciences, or business. 3 credits. (S,Y)

306-28100    Environmental Economics      SS LA 1b

Introduction to the study of environmental problems with the perspective, analytical ideas, and methodology of economics. Emphasis is placed on the analysis of environmental policy. Topics include the relationship between economic activity and environmental quality, the role of economic analysis in environmental policy decisions, economic analysis of pollution control strategies, and economic analysis of environmental policy in both the U.S. and the international community. Prerequisites: 306-12200. 3 credits. (S)

306-28200    Natural Resource Economics      SS LA

 Introduction to the field of natural resource economics. Topics include the relationship between economic activity and the environment as a source of natural resources and the economics of: depletable stocks of oil, natural gas, coal, and uranium; recyclable minerals; renewable stocks of water, land, forests, fisheries, and wildlife; and species and natural area preservation. Prerequisites: 306-12200. 3 credits. (S)

306-30100    Labor Economics      SS LA

 Presents the economics of labor through concepts such as human capital or resource, factor of production, market force, employed, unemployed minority, majority, union, nonunion, theory, and evidence, and their relevance to public policy decisions. Prerequisites: 306-12100-306-12200; two courses in humanities, social sciences, or business. 3 credits. (F,Y)

306-30400    Economics of Health Care      SS LA

 Peculiar economic characteristics of the health care industry. Supply of and demand for health care services; causal and remedial forces of institutionalized frameworks, market mechanisms, and governmental intrusions. Analysis of pricing in terms of the above forces and productivity. Ideal economic characteristics of medical insurance, as contrasted with several proposals for national health insurance. Production for national health insurance. Production function, cost-effectiveness, and benefit-cost analysis. Cross-listed with 640-30400. Students cannot receive credit for both 306-30400 and 640-30400. Prerequisites: 306-12100-306-12200; two courses in humanities, social sciences, or business. 3 credits. (F,Y)

306-31200    Economic Development      SS LA

 Examination of economic change in developing countries. An evaluation of the goals of current development policy at national and international levels. Alternative models of the development process are analyzed and evaluated on the basis of how well the models have actually performed in developing countries during the '60s, '70s, and '80s. The feasibility of future policy options is discussed given present internal political conditions and the current global economic climate. Different regions of the world are emphasized, given class interest. Prerequisites: 306-12100-306-12200; two additional courses in humanities, social sciences, or business. 3 credits. (IRR)

306-31600    Urban Economics      SS LA

 Political-economic problems of urban areas in the U.S. and strategies for urban economic development. Topics include unemployment, poverty, pollution, crime, racism, housing, transportation, education, and financing. Strategies for development: individual upgrading, corporate investment in central cities, urban renewal and planning, black capitalism, and community economic development. Prerequisites: 306-12100-306-12200; two courses in humanities, social sciences, or business. 3 credits. (IRR)

306-32100    Money and Banking      SS LA

 Descriptive and theoretical treatment of money, banking, and credit phenomena in the United States. Monetary media, monetary standards, credit instruments, commercial and central banking operations, organization and operation of the Federal Reserve System, international monetary mechanisms, monetary theory, and past and present monetary policies. Prerequisites: 306-12100-306-12200; two courses in humanities, social sciences, or business. 3 credits. (F,Y)

306-32200    Monetary Theory and Policy      SS LA

 Analysis of money and the monetary system in determining the level, composition, and growth of national income and the price level. Alternative theories of the supply and demand for money and the determination of interest rates. Appraisal of the impact of monetary policy on unemployment, inflation, and economic growth. Strategies of monetary policy management, including analysis of policy targets and indicators, and contemporary policy decision making. Comparison of monetary policy with other stabilization policies, including fiscal policy, incomes policies, and indexing. Prerequisites: 306-32100 or 883-20300. 3 credits. (S,Y)

306-32500    Public Finance      SS LA

 Study of the public sector's policy in budgeting, taxing, and spending, and an analytical assessment of the impact of fiscal policy from the point of view of macroeconomic objectives and welfare criteria. Planning programming budgeting systems. Prerequisites: 306-12100-306-12200; two courses in humanities, social sciences, or business. 3 credits. (S,Y)

306-33300    Econometrics I      SS LA

 Statistical methods, simple and multiple regression analysis, and forecasting techniques applied to economic analysis. Exposure to statistical and econometric packages. Prerequisites: 306-12100-306-12200; 313-24300, 313-24400, or 313-21100, or equivalent. 3 credits. (F,Y)

306-33400    Econometrics II      SS LA

 Advanced topics in econometrics, including problems in regression (multicollinearity, autocorrelation, heteroscedasticity), tests of linear restrictions, dummy variables, distributed lags, and simultaneous-equation models. Exposure to econometric computer packages. Prerequisites: 306-33300. 3 credits. (S,E)

306-34100    Micro Analysis      SS LA

 Analysis of the allocation of resources, organization, and guidance of production, distribution of income, and regulation of consumption in a social economy, involving thorough consideration of the philosophy, language, concepts, measurement, and mathematics of the theories of demand, production, and markets for the firm. Not available to students who have taken 306-34300. Prerequisites: 306-12100-306-12200; two courses in the humanities, social sciences, or business. 3 credits. (F,Y)

306-34200    Macro Analysis      SS LA

 Study of the concepts of wealth, output, and income; the process of saving and investment and its implications; the role of the government sector and of monetary policy; the theory of employment and output determination; and the problems caused by the requirement of economic growth. Not available to students who have taken 306-34400. Prerequisites: 306-12100-306-12200; two courses in the humanities, social sciences, or business. 3 credits. (S,Y)

306-34300    Quantitative Microeconomic Analysis      SS LA

 The study of how market prices are determined and how prices in turn coordinate the behavior of interdependent households and firms in an economic system. Topics include consumer behavior and demand; the firm: its technology and costs; market structure, price, and output; and general equilibrium, economic efficiency, externalities, and public goods. Throughout the course, the use of elementary calculus is emphasized as an analytical tool. Not available to students who have taken 306-34100. Prerequisites: 306-12100; 306-12200; 313-10800 or 313-11100; two courses in the humanities, social sciences, or business. 3 credits. (F,Y)

306-34400    Quantitative Macro Analysis      SS LA

 Study of the concepts of national income, wealth, and inflation; analysis of the process of saving and investment and their effects on the path of economic growth. Topics include the theory of employment; determination of national output; the role of government and the effects of monetary and fiscal policy; and discussion of current national economic policy. The use of elementary calculus is emphasized as an analytical tool. Not available to students who have taken 306-34200. Prerequisites: 306-12100; 306-12200; 313-10800 or 313-11100; two courses in the humanities, social sciences, or business. 3 credits. (S,Y)

306-35200    Economics of Regulation      SS LA

 Economic analysis of government regulation of markets. Topics include the economic criteria for establishing and maintaining monopolies or oligopolies in an industry, alternative methods of market regulation, issues leading to the deregulation of some markets, and regulations relative to the health and safety of workers and environmental protection. Current issues in regulation and deregulation are examined using the economic skills developed in class. Prerequisites: 306-12100-306-12200; two courses in humanities, social sciences, or business. 3 credits. (IRR)

306-36800    Current International Economic Issues      SS LA

 Provides a working knowledge of contemporary issues in international economics. Analysis of balance of payments cycle, United States' balance of payments problems, possible policy alternatives, and the institutions that further economic cooperation. Eurodollars, exchanging notes, and multinational corporations are also considered. Prerequisites: 306-32100; permission of instructor. 3 credits. (S,Y)

306-37200    Industrial Organization Economics      SS LA

 Extends and refines the economic theory of the firm to which students are exposed in economics principles courses. Drawing empirical evidence primarily from U.S. industries, it examines theories concerning the motives of firms, barriers to entry, product differentiation, and interdependence among firms. It also examines U.S. antitrust policy. Prerequisites: 306-12100-306-12200; two courses in humanities, social sciences, or business. 3 credits. (F or S,Y)

306-38200    Economics of Growth      SS LA

 Analysis and description of the process of economic growth. A study of the role of government policy in affecting the growth of national output and the growth of factors of production that will sustain growth of national output. Topics include determinants of saving, investment in human and nonhuman capital, measurement of productivity of resources, and description of the generalized resource known as total factor. Prerequisites: 306-12100; 306-12200; 313-10800 or 313-11100; two courses in humanities, social sciences, or business. 3 credits. (F,Y)

306-41100    International Economics      SS LA

 Study of international trade patterns, gains from trade, and international investment, both private and government. Issues discussed include pros and cons of free trade, tariffs, the European Union, customs unions, currency markets, and balance of payments adjustment mechanisms. Prerequisites: 306-34200; two courses in humanities, social sciences, or business. 3 credits. (S,Y)

306-41300    Economic Fluctuations and Forecasting      SS LA

 This course examines a variety of theories that explain the nature of economic fluctuations. The history of expansions and recessions in the United States is reviewed. Statistical techniques for forecasting the major macroeconomic variables are presented in detail. Various forecasting strategies, such as large-scale econometric models and the leading indicators, are evaluated. Prerequisites: 306-33300; 306-34200; 313-24300. 3 credits. (S,O)

306-41600    Economics of Human Resources      SS LA

 Analysis of activities that influence future monetary and psychic income by increasing the resources of people, including skills, knowledge, and physical capacities. The activities are investments in human resources or human capital, including investments in health, education, welfare, job search, migration, and on-the-job training. The course includes an analysis of these investments in a theoretical framework supported by a survey of empirical studies. Primarily for economics majors, but open to nonmajors by permission. Prerequisites: 306-12100-306-12200; senior standing, or equivalent. 3 credits. (S,O)

306-49000    Internship      NLA

 Designed to provide applications of economic concepts. Business, banking, law, government, and not-for-profit agencies provide the settings. The student is expected to prepare a log of activities, an interim report, and a final report consisting of an economic analysis of the internship experience. Must be taken in the United States or London. All guidelines of the School of Humanities and Sciences must be followed. Prerequisites: Senior standing as major in the department or, with permission of the department, junior standing. 1-6 credits. (F-S,Y)

306-49200    Special Problems in Economics (Tutorial)      U LA

 Guided research, study, and writing on subjects selected by faculty-student consultation. Prerequisites: 306-12100-306-12200; senior standing, or equivalent. Variable credit. (F,Y)

306-49900    Independent Study      U LA

 Program of special reading and research under supervision of the department. Offered on demand only. Prerequisites: 306-12100-306-12200; senior standing, or equivalent, or special permission of the department. 1-4 credits.