Course Descriptions
ECON—101. Principles of Economics, Micro
3 credits
This course introduces students to fundamental economic concepts and theory, including demand, supply, and the formation of equilibrium prices in product and resource markets. In addition, the course offers an introduction to applied fields such as industrial organization (market structures), labor economics, unionism, international trade, and market failure. (ATTR: ARTS, CAS, ISP)
ECON—102. Principles of Economics, Macro
3 credits
This course e6mines the foundations of economic theory as it relates to unemployment, inflation, and economic growth. Topics might include aggregate demand, aggregate supply, market equilibrium, national income accounting, theories of income determination, money and banking, and fiscal and monetary policies. (ATTR: ARTS, CAS, ISP)
ECON—201. Micro-Economic Analysis
3 credits
An intermediate-level treatment of the theories of consumer behavior and demand, production and cost, the firm and market organization, and factor markets. Microeconomic topics might include price control, pollution, efficiency, equity, taxes, subsidies, and government regulation. Prerequisite: ECON—101 and ECON—102. (ATTR: ARTS)
ECON—202. Macro-Economic Analysis
3 credits
An intermediate-level e6mination of Classical and Keynesian models of income determination, post-Keynesian thought and the Monetarist alternative, and the problems of inflation, employment, and growth. Prerequisite: ECON—101 and ECON—102.(ATTR:ARTS)
ECON—210. Money and Banking
3 credits
This course is designed to develop the student’s understanding of the structure and function of our banking system and the role of monetary policy in determining economic activity. Topics included are: the nature of money, the term structure of interest rates, the regulation of commercial bank activity, and the macro-monetary models used to predict future economic conditions. Prerequisite: ECON—102. (Same as FINC—212) (ATTR: ARTS, ISP)
ECON—220. Labor Economics
3 credits
A general survey of the American labor force reveals the changing nature of work, changing labor force participation rates by age and sex, and the growing importance of minority representation. Traditional labor market models of wage determination are supplemented by considerations of institutional constraints, employee benefits, and forms of wage discrimination. Special topics include: types of unemployment, federal manpower programs, and the history of American trade unionism. Prerequisite: ECON—101. (ATTR: ARTS)
ECON—230. Economic History of the United States
3 credits
The economic development of the United States from early beginnings to present time. A chronological approach is used to study economic aspects of the major problems of each period. (ATTR: AMSB, ARTS)
ECON—320. Public Finance
3 credits
Public finance focuses upon the rationale and impact of the government’s collection of revenue and its expenditures. Topics to be covered include the budget system, principles of ta6tion, tax incidence, the principles of expenditures, the impact of spending on private behavior, as well as the ability of the process to produce appropriate decisions. Prerequisite: ECON—101 and ECON—102, ECON—210 or permission of instructor. (Same as FINC—422) (ATTR: ARTS)
ECON—330. History of Economic Doctrines
3 credits
A critical e6mination of the development of the major schools of economic thought from the seventeenth through the early twentieth centuries, with particular attention on mercantilism, classicism, marginalism, socialism, and neo-classicism. This course is primarily a reading program and is restricted to junior and senior level students from all areas of the college. Prerequisite: ECON—101. (ATTR: ARTS)
ECON—340. Environmental Economics
3 credits
An e6mination of how the natural environment is affected by the economic activities of society, and the physical and biological limitations imposed on the economy by the natural environment. Particular areas e6mined include the use of non-renewable natural resources, market failures, economic methods for analyzing pollution, cost/benefit analysis, the impact of population growth, and the values implicit in free market economies toward the natural environment. (Same as ENVA—300.) Prerequisite: ECON—101. (ATTR: ARTS)
ECON—350. Comparative Economics
3 credits
A survey of different forms of national capitalist economic organization, e.g. comparisons of the U.S., Germany and Japan with regard to institutional and policy-making differences as they affect the distribution of wealth and income and social welfare. Other topics include comparisons of various socialist economies and formerly socialist economies in Eastern Europe and China, as well as the emerging hybrid forms of economic organization in those societies. Prerequisite: ECON—102 or permission of the instructor. (ATTR: ARTS, ISP)
ECON—360. Economic Development
3 credits
An analytical approach to the economic problems of the developing countries. The course includes a discussion of the theories of economic growth and development, including domestic and international issues. This material is augmented by the use of empirical studies of the developmental process. Prerequisite: ECON—101 or ECON—102. (ATTR: ARTS, MCCP)
ECON—370. International Trade Theory
3 credits
An e6mination of bases, advantages and problems of international trade from the perspective of classical, neoclassical and modern theories. Key topics include determinants of the gains from trade, changes in income distribution resulting from trade, the rationale and consequences of commercial policies (e.g. tariffs, quotas and subsidies) and industrial policies designed to enhance the trade competitiveness of trading economies. Emphasis is placed on the consequences of income distribution from trade and, therefore, on questions of equity and efficiency. Prerequisite: ECON—101. (ATTR: ARTS, ISP)
ECON—420. Business Financial Forecasting
3 credits
This course explores the nature and causes of fluctuations in aggregate business activity and the technique used to forecast. To gain an understanding of these techniques, and the usefulness of forecasts, students will prepare a forecast and explore its application to firm decision making. Prerequisite: QBUS—200. (Same as FINC—421) (ATTR: ARTS)
ECON—430. Econometrics
3 credits
An introduction to the application of statistical techniques to economic problems. This course includes a review of probability theory, mathematical expectation, and theoretical frequency distributions along with considerations of modeling economic phenomena. Ordinary and two-stage least squares regression techniques are utilized for hypothesis testing and economic forecasting. Prerequisites: QBUS—200 or ATDV—110, ECON— 101 and ECON—102. (ATTR: ARTS)
ECON—490. Seminar in Advanced Economic Theory
3 credits
Analysis of selected topics on an advanced level. Topics are drawn from micro and macro-economics. The course is designed to acquaint the student with advanced subjects and original literature. This course may be taken more than once with different content. Prerequisites: ECON—201, 202. (ATTR: ARTS)
ECON—499. Independent Study 1
3 credits
A qualified student may pursue a particular project/topic in the field of Economics in his/her junior or senior year. The project requires the approval of the faculty member involved and the Department Head. A satisfactory written report and/or e6mination will determine the final grade. Only one independent project may be undertaken in any academic year. Prerequisites: ECON—201, 202 and Junior or Senior status. (ATTR: ARTS)
ECON—790. Washington Semester Economic Policy. Seminar I
4 credits
The Washington Economic Policy Semester provides a seminar which offers a theoretical analysis of contemporary economic problems; presentation of alternative paradigms used to understand economic problems; extensive readings; preparation of papers; and on-site discussions of economic policy decisions. Meetings are generally four to six times per week and may be held at field sites as well as on campus. (See: ATDV—788, 789) (ATTR: ARTS)
ECON—791. Washington Semester Economic Policy. Seminar II
4 credits
This is a correlated course to the work being carried on in ECON— 790. (See: ATDV—788, 789)
ECON—792. Washington Semester Business and Trade Seminar I
4 credits
(See: ATDV—788, 789)
ECON—793. Washington Semester Business and Trade Seminar II
4 credits
(See: ATDV—788, 789) School of Business 199 Economics Department
