An introduction to the methods, models, and approaches used by economists to analyze and interpret events and policies related to the overall operation of the economy. The course endeavors to make sense of unemployment, inflation, recessions, debt and deficits, economic growth, the expanding role of the Federal Reserve, and policies to provide stability to the economy. Additional attention is given to the making of economic policy in an era of globalization. Finally, students are exposed to multiple schools of thought regarding macroeconomic reasoning. Prerequisite: ACT math score of 19 or above; SAT math score of 460 or above; pass MATH 099; or Accuplacer Elementary Algebra test score of 85 or higher, or college-level math requirement with a minimum grade of "C-." Prerequisite or corequisite: ENG 102.
The theory of microeconomics makes use of the tools of marginal cost-benefit analysis to provide a framework for the economic analysis of decision-making. The focus is on the choices of individual firms and consumers, and the resultant outcomes in individual markets. The social implications of the functioning of competitive markets are examined, as well as the causes of market failure and the potential roles of government in correcting them. Prerequisite: ACT math score of 19 or above; SAT math score of 460 or above; pass MATH 099; or Accuplacer Elementary Algebra test score of 85 or higher, or college-level math requirement with a minimum grade of "C-."
A presentation of the analytical tools and approaches used by economists to examine and assess environmental issues, conflicts, and policies. Students are asked to use market analysis, externality analysis, cost-benefit analysis, instrument choice models, and market and non-market valuation techniques to investigate issues such as air and water quality, global warming, toxic substances, wilderness designation, and sustainable development plans. Prerequisites: MATH 105, MATH, 131, MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-."
An introduction to descriptive statistics and statistical inference, with application in business, including hypothesis testing, confidence intervals, and simple regression analysis. Prerequisite: MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-".
An analysis of competing theories about the overall functioning of economies including both growth and stabilization policies. Alternative models are examined at the levels of assumptions, mechanics, dynamics, and policy implications. Theories are examined within their historical context and the sets of problems faced by the theorists. Students are asked to engage, analyze, interpret and provide a course of action for real-world cases. Prerequisites: ECON 201; ECON 202; and MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-."
Intermediate Microeconomics extends the analysis of individual economic behavior and the functioning of markets learned in ECON 202 by incorporating the more sophisticated microeconomic models used in more advanced economic analysis. Topics include the theories of the consumer and the firm, the functioning of market, and the impact of market structure on price formation. Prerequisites: ECON 202; MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-"; ECON 201 recommended.
An exploration of economic, political, and social effects of globalization. This is examined from the perspectives of trade, development, finance, and the environment. The first half of the course focuses on the impacts of international trade. This includes preferential trading relations, protectionism, global trade agreements, competitiveness, and possible conflicts between trade and social objectives. The second half of the course focuses on international monetary relations and regimes. This includes understanding the balance of payments, exchange rate determination, currency crises, and international debt. Prerequisites: MATH 140, MATH 141, or MATH 151with a minimum grade of "C-"; ECON 201; ECON 202 recommended.
The application of advanced statistical methods and modeling to an empirical understanding of economic issues. Combines elements of statistical reasoning with economic theory and provides an excellent opportunity to combine concepts learned in previous economics courses. Topics covered include multiple regression analysis, model specification, dummy variables, multicollinearity heteroscedasticity, autocorrelation, limited dependent variables, simultaneity, time series, forecasting, and methodological issues.Prerequisites: MATH 140, MATH 141, or MATH 151 with a 'C-' or better; ECON 201; ECON 202; and ECON 216 or MATH 213 with a 'C' or better.
An examination of the field of public economics, the branch of economics concerned with the reasons for market failure (monopoly, public goods, externalities, information asymmetry) and the potential for government policies to correct them. The application of the tools of economic analysis to understanding the causes of and potential solutions to social problems of current interest are emphasized. Prerequisites: MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-"; ECON 202; ECON 201 recommended.
A survey of the core topics relating to the monetary sector of the economy. This includes an examination of the role and nature of money, financial institutions and markets, banking structure and regulation, determinants of interest rates, central bank policy, exchange rates, and the international monetary system. Attention is also given to particular monetary episodes such as the Great Depression, the Latin American debt crisis, the collapse of the Mexican Peso, and the Asian monetary collapse. Prerequisites: MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-"; ECON 201.
A study of the efficient and equitable use of society's scarce natural resources. This course discusses the application of economic theory to natural resource problems, such as externalities and resource extraction. Particular attention will be placed on Western United States issues, including water, energy, mineral extraction, forestry and public land use. Prerequisites: MATH 140, MATH 141, or MATH 151 with a minimum grade of "C-"; ECON 202 or ECON 215.
Prerequisite: overall GPA of 2.500 or higher, or department chair permission.
A seminar-style examination of the causes and consequences of historical trends in income and wealth distribution in the United States, concentrating especially on the trend toward increasing inequality that began in the 1970s. Topics include: empirical analysis of distributional data; causal analysis based on both microeconomic and macroeconomic analysis; the roles of institutional change, social attitudes, and government policy; and both positive and normative evaluations of the economic and social consequences. This course fulfills the Economics Capstone Requirement.