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 Home < Academics < Undergraduate < Division V < Economics


Programs offered:

B.A. in Economics
B.S. in Economics
Minor in Economics (TU)

Please consult the University Bulletin for degree requirements.

Economics is the study of decision making. Economics is used to examine individual behavior, interactions, and the resulting social order. Basic economic principles govern all action. It is valuable to go into negotiations in markets, as well as the voting booth, prepared with a clear understanding of the business strategies, government policies and decision outcomes that will affect society. Knowledge of how markets function is helpful to both business people and voters who will make decisions about such market-related economic matters as taxes, interest ceilings, minimum wages, and public utility rates. A student majoring in Economics will evaluate property rights assessments, the incentives created, and resulting social order, replacing uninformed opinions about complex situations with disciplined thought.

Students majoring in economics will be prepared to analyze complex problems and communicate their findings. The student will be introduced to the technical terminology of business, analytical tools for problem solving, and communication methods, including business writing and presentation. Internships are available to provide preparation for careers after graduation.

The major provides an excellent foundation for careers in business, law, politics, as well as government and other not-for-profit entities, or to pursue graduate studies in Economics or Business Administration.

The following is a sample of courses offered in Economics:

ECO 121. Introduction to Economics 4 hours
This course is designed to familiarize the student with basic economic principles and concepts. The student will be introduced to a few key economic principles that can be used in analyzing various economic events. The materials will include a history of economic thought, monetary and financial economics, and supply and demand analysis.
ECO 221. Intermediate Microeconomics 4 hours
This course develops the economic principles necessary to analyze and interpret the decisions of individuals and firms with respect to consumption, investment, production, pricing, and hiring. The principles are used to understand the behavior of business firms and public policy-making institutions. Prerequisites: ECO 121 and MAT 121.
ECO 222. Intermediate Macroeconomics 4 hours
This course examines the goals of economic policy and the policy instruments available to achieve those goals. Attention is given to both monetary and fiscal policy along with the theory and measurement of national income, employment, and price levels, and the international implications of economic policy. Prerequisite: ECO 121.
ECO 223. United States Economic History 4 hours
This course will study the origin and growth of the American economic system from pre-colonial through the 20th century. The course traces the development of the evolution of American agricultural, commercial, manufacturing, financial, labor, regulatory, and technological sectors. Prerequisite: ECO 121.
ECO 224. Labor Economics 4 hours
This course will be a comprehensive study of the cause and effect relationship between work and income.  It will examine labor market structures, human capital theory, union-management relations, labor history, economic policy, and earning profiles by gender and race.
Prerequisite: ECO 121
ECO 323. International Economics 4 hours
This course is a study of international trade and finance. The microfoundations of the course will address why countries trade, why special interest groups fight international trade, regional specialization, international agreements on tariffs and trade, and national commercial policies. The macrofoundations of the course will focus on exchange rates, balance of payments, international investments, and coordination and cooperation of international monetary and fiscal policies. Prerequisite: ECO 121.
ECO 324. History of Economic Thought 4 hours
This course is a study of the major writers and schools of economic thought, related to the economic, political, and social institutions of their times: the Medieval, Mercantilist, Physiocrat, Classical, Marxist, Historical, Neoclassical, Institutionalist, Keynesian, and post-Keynesian schools. Prerequisite: ECO 121.
ECO 420. Economic Development 4 hours
This course is a study of the economic, social, and political factors that account for the contrast between the economic stagnation in much of the world and the steadily rising incomes in the United States, Europe, and Japan. General principles are applied to the development experience of selected countries in the historically less-developed world and the formerly centrally-planned economies of Eastern and Central Europe. Prerequisites: ECO 221 and ECO 222.
ECO 421. Money and Banking 4 hours
This course will study the role of private financial institutions and the Federal Reserve System in the creation of the nation's money supply and the theory that links the money supply to the nation's inflation rate and output level. Additional topics are the international payments mechanism, capital flows, the determination of exchange rates, and the use of a common currency by several countries. Prerequisites: ECO 221, ECO 222, and proficiency in the use of spreadsheet software.
ECO 423. Business Structure and Antitrust Law 4 hours
This course is a study of the structure of firms within a given industry, the corresponding strategic decisions and conduct, and the United States' antitrust policy that is intended to facilitate competitive market goals across the economy. Topics will include competition, dominant firm and cartel theory, measurement of industry structure and performance, strategic behavior in pricing, advertising and information, vertical integration, regulation, and law and international markets. Prerequisite: ECO 221 with a grade of "C-" or higher.
ECO 424. Labor Economics 4 hours
This course will be a comprehensive study of the cause and effect relationship between work and income. It will examine labor market structures, human capital theory, unionmanagement relations, labor history, economic policy, and earning profiles by gender and race. Prerequisites: ECO 221 and ECO 222.
ECO 425. Public Finance 4 hours
An analysis of the impact of federal, state, and local government expenditures, revenues, debt management, and budgeting on the allocation of resources, the distribution of income, the stabilization of national income and employment, and economic growth. Topics will include expenditure patterns, tax structure, benefit-cost analysis, policy analysis, and microeconomic and macroeconomic theories of public expenditures and taxation. Prerequisites: ECO 221 and ECO 222.
ECO 426. Internship in Economics 1-4 hours
An internship is designed to provide a formalized experiential learning opportunity to qualified students. The internship generally requires the student to obtain a faculty supervisor in the relevant field of study, submit a learning agreement, work 30 hours for every hour of academic credit, keep a written journal of the work experience, have regularly scheduled meetings with the faculty supervisor, and write a research paper dealing with some aspect of the internship. Written work should total five pages of academic writing for every hour of credit. An extensive list of internships is maintained by the Career Services Office, including opportunities at the Federal Reserve Bank and Prudential Securities. Graded on a satisfactory/unsatisfactory basis. Prerequisites: Permission of the faculty supervisor and qualification for the internship program.
ECO 427. Independent Study in Economics 1-4 hours
Supervised research on a selected topic. Prerequisite: Submission of a proposed outline of study that includes a schedule of meetings and assignments approved by the instructor, the division chair, and the Provost and Senior Vice President prior to registration.
ECO 428. Special Topics in Economics 4 hours
An intense study of diverse topics under the direct supervision of an economics faculty member. Prerequisite: Permission of the instructor.

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