Courses

The Department of Economics offers a variety of courses in different areas of economics in addition to fundamanetal theory courses. Course offerings may differ from year to year.

See Current Course Offerings (Office of the Registrar).

See courses required for Major and Minor in economics.

See complete list of catalog course descriptions.

SELECTED ECONOMICS COURSES

ECON 221 – Principles of Microeconomics

This course analyzes how individuals and businesses make decisions. We introduce fundamental economic concepts such as scarcity, opportunity cost, comparative advantage, and supply and demand. We also look at the impact of government policies, such as taxes and price controls, on the decisions made by individuals and firms. Among other things, we address the following questions:

• How does a business decide what to produce, how much to produce, and what price to charge for its product?
• What is the proper role for the government in a free market economy?
• Is zero pollution a desirable goal? If not, how can we use economic tools to find the socially optimal level of pollution?
• Why do movie theaters charge lower prices for students and senior citizens than they do for “adults”? Why do businesses place discount coupons in your local newspaper?
• Why have the efforts of humanitarian agencies to end slave trade in the Sudan actually led to an increase in slave trade?
• What would happen to the price of gasoline, heating oil, compact cars, and SUVs after a major hurricane hit the Gulf Coast of the United States?

This course fulfills a requirement for an economics major and minor.

ECON 222 – Principles of Macroeconomics

This course explores how decisions made by individuals and businesses can be combined to analyze the performance of an entire economy. It also introduces main concepts and theories of macroeconomics including determination of national income and output, problems of unemployment and inflation, effect of government policies on the economy.  Among other things, we address the following questions:

• How can events in countries like China or Brazil affect the price of goods we buy every day?
• Why jobs are easier to find in some years than others?
• Can the government control its spending and taxes? Is government budget deficit really a problem?
• How banks create money and make a profit in the process?  How can Federal Reserve change the amount of money in the economy and what effect will this have on ordinary citizens?
• How can the level of savings affect output and income? Is it always a good idea for an economy to have a high saving rate?

This course fulfills a requirement for an economics major and minor and it also fulfills general education (GE-K1) requirement. 

ECON 303 – Environmental Economics

In this course we explore the relationship between humanity and the environment from an economic (as well as social and political) perspective. We also explore how we manage our natural resources. Among other things, we address the following questions:

• Does increasing our standard of living require that we damage our environment? If so, what is the proper balance?
• How do we evaluate economic and moral/ethical decisions with respect to the environment?
• What is the trade-off between current consumption and the sustainability of our environment for future generations?
• What value should we place on biodiversity and how do we measure the value that people place on biodiversity?
• How does population growth affect both our economic welfare and the condition of the environment?
• Why have we not adopted alternative sources of energy that are more environmentally friendly?

Prerequisite: ECON 221 – Principles of Microeconomics.

Econ 310 – Money and Banking

This course explores the structure of financial markets, including main types of financial assets, and their role in the economy, as well as the role of commercial banks and the Federal Reserve in determining interest rates, money supply and the price level.  We also look at the tools the Federal Reserve can use in influencing the economy and the main goals it pursues in doing so. Among other things, we address the following questions:

• What factors affect the interest rate you pay on your credit cards? How can you know when is a good time to refinance your mortgage?
• Why is Federal Reserve criticized so often? Why can’t they choose a policy that makes everyone happy?
• Why do banks ask so many questions about you when you apply for a loan?
• What makes you certain that the bank you keep your money in will not go bankrupt?
• What affects the value of the dollar relative to other currencies and why does it change so often? 

Prerequisites: ECON 222 – Principles of Macroeconomics.

ECON 326 – International Trade 

In this course we explore the factors that determine why countries trade and look at the impact of trade on the economic welfare of a country and its citizens. Among other things, we address the following questions:

• Why do countries trade with one another instead of producing everything they consume?
• How does international trade affect the probability of you getting a high paying job in the future?
• How prevalent is the outsourcing of jobs and do the benefits outweigh the costs (and for whom)?
• Should domestic industries be protected against cheap foreign goods?
• What is “fair” trade? What are the mechanisms for resolving trade disputes between countries? Has globalization benefited the U.S. and its trading partners?
• Should we worry about the U.S. trade deficit?

Prerequisite: ECON 221 – Principles of Microeconomics

ECON 332 – Intermediate Macroeconomic Theory

This course explores how the aggregate economy functions, including the causes and remedies of inflation, unemployment, and slow economic growth. A major emphasis is placed on how government policy can affect economic conditions in the country.  Among other things, we address the following questions:

• How does government policy affect the rate of inflation, the unemployment rate, and the interest rate (and how do these affect your quality of life)?
• Should the government try to influence the economy?
• What determines the growth rate in our standard of living and what can the government do to increase this growth rate?
• What determines the level of investment by businesses, what impact does it have on the economy, and what can the government do to increase investment?
• What are the real effects of tax cuts? Should we worry about the budget deficit and public debt?
• How can the Federal Reserve affect the interest rates you pay on your credit cards?

This course fulfills a requirement for an economics major and minor.

Prerequisites: ECON 222 – Principles of Macroeconomics; MATH 120 - Precalculus.

ECON 341 – Economic History

In this course we explore the development of the United States by looking at the interaction of the economic, political, and social forces that run through our history. Among other things, we address the following questions:

• How did initial endowments (land, natural resources, and labor) determine the economic and political institutions that developed in this country?
• What economic factors bound the original 13 colonies into a cohesive country and what factors contribute to the continued conflicts between the federal government and the individual states?
• What factors contributed to the development of slavery and what changes occurred in the economy after the abolition of slavery – were the freed slaves actually free?
• What factors led to the emergence of the United States as the most important economic power in the 20th century?
• Why does the U.S. have a free market economy with limited government control while economic decisions in many other countries are made by the government?

This would be a good course for those with an interest in economics, political science, and history. Prerequisite: ENG 110 – Writing Through Literature.

Econ 411 – Labor Economics

In this course we explore the role of labor markets in the economy. We look at the decisions that individuals and households make concerning the allocation of their time to work, leisure, and household activities. We also look at the impact of those decisions on wages and employment in the economy and how government policies can alter those decisions. Among other things, we address the following questions:

• What factors determine the amount of time that people devote to leisure and market activities?
• What determines an individual’s earnings and what factors contribute to a disparity of earnings between different individuals (and groups) in the economy?
• What is the return to education, how do we measure it, and how does education affects earnings over an individual’s lifetime?
• What role does immigration, labor unions, and technology play in the pattern of earnings and employment in the economy?
• Does discrimination exist in labor markets, how do we measure it, and what factors determine the extent of the discrimination?
• Why do economists make $ 40,000 - $ 100,000 a year while many baseball players make millions of dollars a year?

Prerequisites: ECON 221 – Principles of Microeconomics.