Course Descriptions

An introduction to stock and bond markets. Students experience the semester-long activities of managing an investment portfolio. Students may enroll in this course a maximum of three times, earning 3 credits. Graded on pass/fail basis.

ECO 101 PRINCIPLES OF ECONOMICS I / 3 credits
An introduction to economics with an emphasis on fundamentals of economic principles and current economic policy issues. Topics include: basic economic principles of scarcity of resources, production and consumption, market, international trade, supply and demand, taxes, welfare state, poverty, income inequality, economic output of an economy, price level, inflation, unemployment, long-run determinants of economic growth, and financial system including money and banking. Prerequisite: MTH?101.

ECO 102 PRINCIPLES OF ECONOMICS II / 3 credits
This course is built on the materials taught in ECO 101. ECO 102 begins with the applications of demand and supply model to analyze the effects of market intervention and to understand market efficiency and consequences of market failure. In the microeconomics part of the course different market paradigms are studied with analytical tools including game theory. In the macroeconomics part, this course starts with a review of long-run determinants of economic growth and introduces the role of monetary institutions in the economy. Finally, the aggregate demand and supply model is employed to understand short-run economic fluctuations and the effectiveness of monetary and fiscal policy tools. Prerequisite: ECO 101.

ECO 301 INTERMEDIATE MACROECONOMICS / 3 credits
The course covers the topics of national income accounting, determinants of consumption and investment spending, international capital flows, financial asset holdings, long-run economic growth, business cycles, monetary and fiscal policy and unemployment. Prerequisite: ECO 102, BUS 205 or MTH?210.

ECO 302 INTERMEDIATE MICROECONOMICS / 3 credits
An analytical investigation of consumer choice, production costs, and firm behavior, including critical examination of different market paradigms. Coverage of topics such as choice under uncertainty, problems with asymmetric information, externalities, and use of game theories in analyzing strategic behavior of firms, broaden the usefulness of microeconomic theories in grasping the challenge of real life economic decision-making. Prerequisites: ECO 102, BUS 205 or MTH 210.

ECO 304 AMERICAN ECONOMIC HISTORY / 3 credits
A study of the development of the American economy with an emphasis on the changing structure, institutional pattern, and output mix of the country. Various theories concerning economic growth and development are used as a means of identifying and understanding the major forces at work in the country’s evolution from colonial times through to the Great Depression. Prerequisite: ECO 101.

ECO 310 MATHEMATICAL ECONOMICS / 3 credits
The use of mathematical techniques to solve complex economic problems. Prerequisite: ECO 301 or 302, BUS 205 or MTH 210.

ECO 320 CORPORATE FINANCE I / 3 credits
A study of the basic concepts and analytical tools necessary for financial decision making. Emphasis on time and risk as determinants of present value, bond and stock valuation, capital budgeting, capital asset pricing model, cost of capital and capital structure. Prerequisites:  ACC 211, ECO 102.

ECO 330 CORPORATE FINANCE II / 3 credits
A review and extension of material introduced in Corporate Finance I. Using the case method, computer simulations and spreadsheet applications, students work individually and in teams to further their understanding of financial systems analysis. Prerequisite: ECO 320.

ECO?350 BUSINESS AND PROFESSIONAL ETHICS / 3 credits
An examination of professional responsibility with case studies of ethical issues in business and the professions. Same as RPH?350.

ECO 370 POLITICAL ECONOMY OF PUBLIC ISSUES / 3 credits 
Each year topics of current public debate and interest in which both governmental and economic forces and interests are joined are used as the basis for discussion and for student research. Students present their research to the class and write a major paper. Prerequisite: ECO 102 or consent of instructor. Same as POL 370.

ECO 390 MONEY AND BANKING/ 3 credits
Evolution of monetary and financial systems: interest rates, financial markets and institutions, and monetary policy. International aspects are integrated throughout. Prerequisite: ECO 102.

ECO 405 GOVERNMENT REGULATION OF BUSINESS/ 3 credits 
An application of the economic theory of industries and markets to various methods of government regulation. Students examine both the legal foundation and the economic impact of market regulations as they investigate the application of antitrust policy, Federal Trade Commission regulation of competitive practices, regulation of natural monopoly, and regulation of social concerns like workplace safety or pollution. Prerequisite: ECO 302.

ECO 410 INTERNATIONAL ECONOMICS / 3 credits
The exploration of various theories of international trade and finance. Emphasis is placed on factors affecting trade and financial flows and the implications of commercial and trade policy on these flows. Exchange rate regimes and balance of payments issues are studied. The role of international institutions such as the World Trade Organization, the World Bank, and the International Monetary Fund is discussed. Prerequisite: ECO 102, BUS 205 or MTH 210.

ECO 420 PUBLIC FINANCE / 3 credits
An application of microeconomic theories to analyze the role of government in providing public goods and services to a predominantly market economy. Government’s expenditure programs and tax system are examined with an emphasis on their efficiency, equity, and incentive aspects. Issues related to collective decision making, particular types of taxes and local public finance are included in the course. Prerequisite: ECO 102, BUS 205 or MTH 210.

ECO 425 ENVIRONMENTAL ECONOMICS / 3 credits
This course examines the interactions between production and consumption and the natural environment. Microeconomic theories of externalities and public goods are used to model environmental problems and efficient solutions. Command-and-control based solutions and market-based solutions are analyzed in detail.  Analytical decision-making tools such as, environmental risk analysis and benefit-cost analysis are also used to evaluate environmental projects.  Current environmental policy issues are discussed. Prerequisites: ECO 102, BUS 205 or MTH 210.

ECO 430 HISTORY OF ECONOMIC THOUGHT / 3 credits
A study of the evolution of ideas central to economic theory and the development of the ideas currently accepted. Prerequisite: ECO 102.

ECO 475 INVESTMENTS / 3 credits
Application of finance tools to the valuation of different types of securities, such as stocks, bonds, and options. The emphasis is on how to combine these securities into portfolios that provide the best risk-return profile for a given investor. Prerequisite: BUS?323, ECO 320 and BUS 205 or MTH 210.

ECO 482 SPECIAL TOPICS IN ECONOMICS / 3 credits
Study of selected topics in economics. Prerequisites will vary.