Economics

ECO 1003: Entrepreneurship for the Liberal Arts (3cr)*
This course provides liberal arts students with the knowledge and skill needed to plan and manage a business, especially when the business pertains to their liberal arts training. It covers basics, such as accounting, marketing, and human resource management, and shows how these are strategically combined to create a business plan. This course may not be taken in fulfillment of an economics, finance, or management major or minor.

ECO 1011: Principles of Economics I: Introduction to Macroeconomics (3 cr.)
This is an introductory treatment of nation-wide economic activity.  Topics include the measurement and determination of gross output, inflation and unemployment.  Major attention is given to fiscal and monetary policy.  (Fall) (Spring)

ECO 1012: Principles of Economics II: Introduction to Microeconomics (3 cr.)
This is an introductory treatment of the behavior of consumers and business firms and how they interact in markets.  Demand and supply analysis is used to show how price and output will change when market conditions change in a variety of different competitive settings.  Prerequisite: Principles of Economics I.  (Fall) (Spring)

ECO 2017: Economics and Finance of Health Care Policy (3 cr.)
This course examines an increasingly important sector of the US economy, as health care now comprises almost 15% of gross domestic product.  Further, this sector is one of the least influenced by ordinary market forces, largely because public and private insurance cover more than 80% of health care spending.  The result is a unique and complex challenge to public policy: to determine how best to finance and deliver health care, so that it is both efficiently provided and equitably distributed. Prequisite: Principles of Economics II

ECO 2022: Government and Industry (3 cr.)
An examination of how industrial market structure affects the conduct and performance of firms in the economy.  Topics include the determinants of market structure, barriers to entry, price and non-price competition, government regulation and anti-trust policy.  Prerequisites: Principles of Economics I and II.  (Fall '08)

ECO 2025: American Economic History (3 cr.)
The development of different sectors of the American economy from the colonial era to the present will be described and analyzed.  Topics include the history of American banking, finance and broadcasting; industrialization and the creation and growth of the corporation; and the development of modern marketing in America.  (Fall '08)

ECO 2032: Applied Game Theory (3 cr.)
People often make decisions in which the reactions of others must be anticipated and accounted for.  Game theory represents a systematic way of thinking strategically.  This course develops the basics of the field of game theory and applies this theory to a range of strategic decisions as diverse as those that involve: negotiating contracts; signaling the intent to enter a market; predatory pricing; acting crazy like a fox; finding and attracting the best feasible mate; arranging alliances; and establishing peace among nations.  The conditions that produce both conflict and cooperation are explored.  Prequisites: Principles of Economics I and II.

ECO 2043: Economic Conditions and Forecasting (3 cr.)
The nature and cause of business cycles will be analyzed along with business cycles and economic indicators.  Various forecasting methods for both business and economics will be discussed and students will learn how to forecast through practical, hands-on examples.  Prerequisites: Principles of Economics I and II.

ECO 2045: Economics of Competitive Strategy (3 cr.)
This course applies microeconomics to the analysis of corporate strategy (and even strategy by non-profit corporations).  The characteristics of markets and firms that make strategy possible are examined and superior strategies are identified.  Students will examine contemporary cases. Prequisites: Principles of Economics I and II

ECO 2050: Women in Development (3 cr.)
This course will survey several countries where development strategies have followed different models while gender has played another role.  Student projects will explore the question of whether common elements appear in the relations of gender, religion and economic development around the world.

ECO 2060: Economic Statistics (3 cr.)
This course covers methods of analyzing and summarizing economic and business data; numerical measures of location and dispersion; probability and probability distributions; estimation and hypothesis testing; the correlation coefficient.  Prerequisites: Principles of Economics I and II.  (Fall) (Spring)

ECO 3001: Intermediate Macroeconomic Theory (3 cr.)
An intermediate level treatment of the determination of national output, employment and the price level.  Classical, Keynesian, monetarist and related models are considered.  Additional topics include inflation, unemployment and monetary and fiscal policy.  Prerequisites: Principles of Economics I and II.  (Spring)

ECO 3002: Intermediate Microeconomic Theory (3 cr.)
An intermediate level treatment of consumer behavior and market demand, the theory of the firm, production, cost and supply.  Perfect competition, monopolistic competition, oligopoly and monopoly market structures will be considered.  Prerequisites: Principles of Economics I and II.  (Fall)

ECO 3008: Applied Econometrics (3 cr.)
Statistical analysis of econometric phenomena will be conducted using standard regression models.  Theoretical foundations will be established in the classroom while emphasis is placed on practical applications to individual projects designed by each student.  Prerequisites: Principles of Economics I and II, Economic and Business Statistics and at least one other economics course.  (Fall '07)

ECO 3016: International Trade and Development (3 cr.)
This course will acquaint the student with the phenomenon of globalization and what it means for all participants in the world economy.  Different economic systems around the world will be examined.  Students will learn about the theoretical bases for trade and discuss commercial policies, including the theory and practice of protection, regional trading blocs and resource mobility.  A discussion of global finance and foreign debt will be followed by a look at economic development and growth in the poor nations of the world.  Different models and relevant issues of development will be analyzed.  Prerequisites: Principles of  Economics I and II.  (Fall)

ECO 3035 Seminar in International Business (3 cr.)
This seminar will investigate the rapidly evolving global environment in which international business operates.  The ways large and small firms deal with the forces that make up the international environment will be examined.  Videos, readings, student participation and an emphasis on the human ramifications of international business will comprise the seminar period.  The seminar will require the completion of a research project, which each student will present to the class at the conclusion of the seminar.  Prerequisites: Principles of Economics I and II.  (Spring)

ECO 3075: Seminar in Contemporary Economic Issues (3 cr.)
Public policy in a market economy is analyzed in a seminar or discussion style format.  Topics include price controls, energy policy, rent control, product safety standards, environmental policy, minimum wage law, and educational vouchers.  Prerequisites: Principles of Economics I and II.  (Fall '08)

ECO 3997: Senior Seminar in Economics  (3 cr.)
Students undertake research on a topic approved by the instructor and use the analytical tools of the economist to reach conclusions.  Results are presented and discussed in class.  (Fall ONLY)