courses
Following is a comprehensive list of courses offered by the Department of Economics.  Please check the current Schedule of Classes for a listing of the courses offered this semester.

CORE AND INTRODUCTORY COURSES

10000: Principles of Microeconomics
This introductory course develops the basic tools and methods of microeconomic analysis. The choices of individual decision makers are analyzed in studying how markets operate. The fundamentals of supply and demand, consumer and firm behavior, and market interactions are examined. Applications to current macroeconomic issues are discussed in the course, for example, the role of government in markets. 3 HR./WK.; 3 CR.

10101: Introduction to Economics
For students enrolled in Freshman Honors Program. Replaces Eco 10000 (or 10200) and 10300. 4 HR./WK.; 4 CR.

10300: Principles of Macroeconomics
This introductory course develops the basic tools and methods of macroeconomic analysis. Issues of employment and unemployment, inflation, the level of output and its growth, and other important current policy problems are examined within the framework of models that economists use. The main area of current application will be the United States economy, but attention will also be given to international economic issues. 3 HR./WK.; 3 CR.

10400: Introduction to Quantitative Economics
For students enrolled in the School of Engineering. An integrated intensive treatment of micro- and macroeconomics. Modern analytical approach employed to treat topics including theory of consumer demand, theory of firm, market structure, inflation, unemployment, and economic growth. Special emphasis on managerial economics and empirical methods by which economists test hypotheses and estimate parameters. Prereq.: Math 10100 or Math 10700. 3 HR./WK.; 3 CR.

INTRODUCTORY ELECTIVE

12200: Public Economics
For students enrolled in Media and Communication Arts and in the Program in Public Policy and Public Affairs. Microeconomic analysis of group decision-making; resource allocation in profit and not-for-profit entities. Public policy alternatives. 3 HR./WK.; 3 CR.

ADVANCED ELECTIVES
Engineering students who wish to take advanced courses should take Economics 22000, 22100, and 26500. Economics 22000 is especially recommended for students planning to take courses at the master’s level.

Economic Analysis

22000: Microeconomic Theory I
Forces determining product and factor prices and quantities under alternative market structures. Consumer demand, production, and cost; firm and industry. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

22100: Microeconomic Theory II
Factor markets; introduction to general equilibrium theory, capital theory, and welfare economics. Prereq.: Eco 22000, Math 10100 or 20700 or 10500. 3 HR./WK.; 3 CR.

22500: Macroeconomics I
Factors determining income, employment, price levels, and interest rates. Emphasis placed on policy problems. Prereq.: Eco 10000 or Eco 10100 or 10101 or Eco 10200 or Eco 10300 or Eco 10400.
3 HR./WK.; 3 CR.

22600: Macroeconomics II
Theoretical analysis of economic growth, fluctuations and technological change. Emphasis placed on policy implications, with particular reference to developed economies. Prereq.: Eco 22500. 3 HR./WK.; 3 CR.

International Economics

23000: International Trade Theory
Development; trade doctrines; gains from trade; theory and practice of protection; balance of payments, capital exports, and theory of transfer; interrelations between domestic economies and international economy. Prereq.: Eco 22000. 3 HR./WK.; 3 CR.

23100: International Finance
Macroeconomic theory and policy in open economy. Issues associated with balance of payments disequilibrium, fluctuating currency values, international factor flows and international capital mobility. Extensions of Keynesian model; monetary and fiscal policy for internal and external balance, macro policy coordination. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

23200: International Environment of Business
Causes, dimensions, consequences, and evolution of our current interdependent world economy. Examines the institutional background of the world financial order, international income comparisons, foreign exchange, balance of payments, the multinational enterprise, international trade, and international investment. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

Economic Development and Comparative Economic Systems

24000: Economic Development
Rates of growth and stages of development; strategic factors in theory and practice; domestic and international problems of growth, with principal attention to underdeveloped countries. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W)3 HR./WK.; 3 CR.

24300: European Economic Development
Emphasis on factors responsible for industrialization and growth, interrelation of theory and economic history. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

24400: American Economic Development
Factors responsible for growth of the American economy; emphasis on the period since 1860. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

24500: Asian Economic Development
Economic-social structure and developmental process of India, China, Japan and Southeast Asia. Domestic and international conditions and practices favoring or retarding economic progress in Asia past and future in the light of principles of development. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

24600: Comparative Economic Systems
Compares American capitalism with other ways of organizing economic activity, with special emphasis on price systems and central planning. Prereq.: Eco 10000 or 10101 or 10400. (W) 3 HR./WK.; 3 CR.

Economic Policy and Problems

25000: Contemporary Domestic Economic Problems
Considers efficiency of free enterprise, with emphasis on the resource waste involved in depressions, lack of competition, inflation, advertising, farm surpluses, tariffs; measurements of waste; procedures to improve performance. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

25100: Contemporary International Economic Problems
Trade liberalization, the balance of payments, regional integration, East-West relations, economic development, and foreign aid. Particular attention to U.S policy, U.N. activities, and international agencies. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400.  (W) 3 HR./WK.; 3 CR.

25400: Urban Economics
Economic origins of cities and suburbs; effects of technological change on industrial structure and urban land use patterns; economics of urban transportation, housing, public utilities, and municipal services; roles of government and private enterprise. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400.  (W) 3 HR./WK.; 3 CR.

 26000: Industrial Organization and Public Policy
Structure of the American economy. Public policy in maintaining competition. Antitrust activities of Justice Department and F.T.C., with special emphasis on leading recent cases. Prereq.: Eco 10000 or 10101 or 10200 or 10003 or 10400. (W) 3 HR./WK.; 3 CR.

26100: Economics of Regulation
Study of appropriate social controls where competition is lacking; role of government in direct regulation of price and output, and related matters. Prereq.: Eco 26000. 3 HR./WK.; 3 CR.

26400: Public Finance
Taxes and debts of federal, state and local government; budgets and intergovernmental fiscal relationships; the economic implications of their financial activities. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

26500: Public Expenditure
Introduction to public expenditure theory (cost-benefit analysis); political and economic approaches to government decision making. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

Economics of Finance

27000: Money and Banking
Organization and operation of U.S. financial system, both public and private; money and capital markets, commercial banking policy; relationship between financial and economic activity, including monetary and fiscal policy. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

27100: Economics of Corporate Finance
Economic principles underlying operations of modern business corporations and regulatory controls pertaining thereto. Procurement of capital and conservation of capital resources. Problems of capitalization. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400 and 29000 and 36000. (W) 3 HR./WK.; 3 CR.

27200: Economics of Investment
Security analysis with emphasis upon meaning, measurements and relationship of risk. Portfolio analysis, alternative approaches to valuation, determination of asset values in open market, internal and external rates of return, objectives of investment decision. Prereq.: Eco 27100. 3 HR./WK.; 3 CR.

27300: Personal Finance
Problems involved in efficient handling of personal affairs and consumption expenditure, including consumer protection, taxation, insurance, home financing, and methods of borrowing and investing money. Prereq.: Eco 10000 or 10101 or 10300 or 10400.  3 HR./WK.; 3 CR.

27400: Advanced Financial Economics
Leading and contemporary developments in financial management, including security analysis, portfolio analysis, capital budgeting, working capital management, and benefit-cost analysis. Prereq.: Eco 27100 and 27200. 3 HR./WK.; 3 CR.

27500: Options and Futures
Option pricing theory and applications to corporate finance and security valuation. Options on stocks, futures, commodities and currencies. Organization and operation of futures markets. Futures on commodities and fixed income securities. Stock indexes and international securities. Applications of futures for financial management. Prereq.: Eco 27100 and 27200. 3 HR./WK.; 3 CR.

27600: Banking and the Financial Services Industry
Current policies, problems and banking practices. Interaction of nonbank depository institutions and nonfinancial intermediaries with evolving commercial banking. Prereq.: Eco 27000.  (W) 3 HR./WK.; 3 CR.

Labor Economics

28000: Economics of Labor
Survey of labor, utilization, allocation and compensation of labor. Unionism, government regulation, and other factors affecting labor resources. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

28100: Trade Unionism in the United States
History and structure of the labor movement in the United States. Detailed analysis of policies, functions, methods and procedures of trade unions. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

28200: Comparative Labor Movements
Labor movements in foreign countries with reference to the American scene; relationship between various economic systems and accompanying labor movements, together with appraisal of the work of international labor institutions. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

28500: Economics of Economic and Social Security
Causes and solutions of economic and social insecurity. Special attention given to problems of poverty and unemployment in United States, including examination of alternative Social Security systems. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

Statistics

29000: Principles of Statistics
Introduction to statistical methods and reasoning. Nature and scope of statistical inquiries, collection, and presentation of data. Descriptive methods, with particular reference to frequency distribution, regression and correlation, index numbers and time series analysis. Elements of probability, sampling methods, sampling error, and principles of estimation and testing. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 4 HR./WK.; 4 CR.

29400: Computer-Aided Economic Analysis
An introduction to the use of the computer as a tool in the solution of economic problems; including problem definition, algorithms, overview of computer organization, impact on practice, data structures, processing, and analysis of output. Emphasis on economics and business applications of statistical techniques. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400 and Eco 29000 or permission of the instructor. 4 HR./WK.; 4 CR.

29700: Econometrics
Statistical models and problems arising in econometrics. Recent work in econometrics applications. Prereq.: Eco 22000 and 29400, or permission of the instructor. 4 HR./WK.; 4 CR.

Management

33000: Economics of Marketing
Distribution and sale of goods and services from production to final consumption. Includes changing behavior of consumers and relationship to producers’ selling behavior; and the economics of mer- chandising, including product life cycle, location theory, and optimal sales effort. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

34000: Organization and Management
The modern corporation and its historic development; the principal functions of management, and its role in our modern society with emphasis on the structure of the management decision process, and appropriate management tools for analysis of these decisions or to reduce the uncertainty of their outcome. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W)3 HR./WK.; 3 CR.

35000: Managerial Economics
Use of management science for the efficient administration of economic units, including applications to production, financial, and marketing operations. Attention given to the formulation of models to analyze management problems. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400 and Eco 29000 and Eco 29400. 3 HR./WK.; 3 CR.

35100: Administrative Economics: Personnel
Personnel functions in larger organizations; attitudes toward work; role of government, public interest groups and unions in determining job environment. Development of manpower and management resources; planning manpower needs, management of compensation programs. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. (W) 3 HR./WK.; 3 CR.

35200: Administrative Economics: Operations and Production
Investigation of production systems. Application of analytical techniques to product and process design, optimal plant location, efficient plant design. Planning for production. Systems of inventory and quality control. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400 and Eco 29000, Math 10100 or 20100 (W) 3 HR./WK.;
3 CR.

35300: Administrative and Managerial Policy
General management function. Organizational objectives and long-range forecasting. Implementation of organizational strategy for operations, control, expansion, recovery. Social responsibility of corporations. Prereq.: Eco 27100, 33000 and 34000, senior status. (W) 3 HR./WK.; 3 CR.

35700: Entrepreneurial Economics
Exploration of the economics of new businesses. Each member of the class prepares a plan for a potential new business; plans will be discussed stage by stage as they evolve. Prereq.: Eco 34000, 35200, 35300, 27100 and 36000 or permission of the instructor. 4 HR./WK.; 4 CR.

35800: Governmental Regulation and Executive Decision Making
Impact of the new governmental “social” regulation upon managerial and administrative decision making in private enterprises and public organizations. Legal, ethical and economic aspects of health, safety, environment, consumerism and the like are considered. Attention given to the effects of regulation on costs, innovation, productivity, inflation and economic growth. Prereq.: Eco 27100, 33000, 34000. (W) 3 HR./WK.; 3 CR.

Accounting

36000: Principles of Accounting I
Introduction to accounting cycle, fundamental concepts and techniques of accounting for business transactions and preparation of financial statements. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 4 HR./WK.; 3 CR.

36100: Principles of Accounting II
Emphasis on the use of accounting data and analysis of management decisions. Prereq.: Eco 36000. 4 HR./WK.; 3 CR.

Law

38000: Law of Business Contracts
Basic principles of law of business contracts and their applications to business transactions. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

38100: Law of Business Organization
Basic principles of law governing the formation, operations and dissolution of proprietorships, partnerships and corporations. Prereq.: Eco 10000 or 10101 or 10200 or 10300 or 10400. 3 HR./WK.; 3 CR.

Advanced Independent Study

30100-30400: Honors I-IV
Approval of Dean and Chair is required. Apply no later than December 10 in the Fall term or May 1 in the Spring term. VARIABLE CR.

31000: Independent Study
The student will pursue a program under the direction of a member of the Department with approval of the Chair. CREDIT MAY BE FROM 1-4 CREDITS, DETERMINED BEFORE REGISTRATION, BY THE INSTRUCTOR WITH THE APPROVAL OF THE DEPARTMENT CHAIR.

31001-32000: Selected Topics in Economics
Advanced independent study, chosen from the following areas. FLEXIBLE CR., USUALLY 3 CR./SEM.

31100: Micro Theory

31200: Macro and Monetary Theory

31300: Computer Applications for Business and Management Information Processing

31400: Management

31500: Managerial Accounting

31600: Statistical Analysis and Mathematical Economics

31700: Finance

31800: Economic Systems

31900: Economic Development

32000: Cost Accounting

42000-42100: Internship
Work in a city agency or a private organization for a year as research aide, gaining some practical applications of economic analysis to urban policy programs. Students work approximately ten hours per week in the placement and attend a seminar on campus. Student is expected to complete two consecutive semesters. Prereq.: junior or senior status, completion of, or current enrollment in, Eco 22000, 22500 and 29000, permission of the instructor. 3 CR./SEM.