Academic Catalog

Economics (3250)

3250:100. Introduction to Economics. (3 Credits)

May not be substituted for 3250:200, 3250:201, or 3250:244. Economics primarily concerned in a broad social science context. Adequate amount of basic theory introduced. Cannot be used to satisfy major or minor requirements in economics.

3250:200. Principles of Microeconomics. (3 Credits)

Analysis of behavior of the firm and household, and their impact on resource allocation, output and market price. No credit if 3250:244 already taken.

3250:201. Principles of Macroeconomics. (3 Credits)

Prerequisite: 3250:200. Study of the economic factors which affect the price level, national income, employment, economic growth. No credit if 3250:244 already taken.

3250:226. Computer Skills for Economic Analysis. (3 Credits)

Prerequisites: 3250:100 or 3250:200 or 3250:244. Application of word processing, spreadsheets, presentation packages, SAS, the Internet, library resources, and other computer tools in communicating economic analysis.

3250:230. Economics of Social Policy Issues. (3 Credits)

Prerequisite: 3250:100, or 3250:200 and 3250:201, or 3250:244 or permission of the instructor. Investigation of selected labor and social policy issues. Examples include health care, economic demography, anti-poverty programs, immigration, discrimination, and the impact of unemployment and inflation.

3250:244. Introduction to Economic Analysis. (3 Credits)

Recommended for engineering and mathematical science majors. Intensive introduction to analysis of modern industrial society and formulation of economic policy. Structure of economic theory and its relation to economic reality. No credit to a student who has completed 3250:200 and 3250:201.

3250:310. Managerial Economics. (3 Credits)

Prerequisites: 3250:200 or 3250:244, 3470:261, 3470:262. Application of economic analysis to management problems; the organization of enterprises and the allocation of their resources; decision making under uncertainty; strategic behavior.

3250:325. Applied Econometrics I. (3 Credits)

Prerequisites: [3470:261 and 3470:262] or 6500:304. Students learn SAS coding and the foundations of data science. Course covers multiple regression estimation and inference analysis and concludes with a team-based research paper.

3250:326. Applied Econometrics II. (3 Credits)

Prerequisite: 3250:325. Violations of the classical assumptions of the regression model and corrections are explored along with regression analysis of time series data. Culminates with a research paper.

3250:330. Labor Problems. (3 Credits)

Prerequisites: [3250:200, or 3250:201, or 3250:244]. Labor economics, principles and public policy. Study of structure of labor market and impact unions have on labor management relations.

3250:333. Labor Economics. (3 Credits)

Prerequisite: 3250:200 or 3250:244. Theoretical tools used in analysis of problems of labor in any modern economic system. Emphasis given to examination of determinants of demand for and supply of labor.

3250:360. Industrial Organization & Public Policy. (3 Credits)

Prerequisites: 3250:200 or 3250:244. Role of industrial structure and firm conduct in performance of industry and way in which antitrust policy is designed to provide remedies where performance is unsatisfactory.

3250:380. Money & Banking. (3 Credits)

Prerequisite: 3250:201. Institutions of money, banking and credit, monetary expansion and contraction, public policies affecting this process, development of our money and banking system.

3250:385. Economics of Natural Resources & the Environment. (3 Credits)

Prerequisites: [3250:100 or 3250:200 or 3250:244] or permission. Introduction to economic analysis of use of natural resources and economics of environment. Problems of water and air pollution, natural environments, natural resource scarcity, conservation, economic growth.

3250:400. Intermediate Macroeconomics. (3 Credits)

Prerequisites: 3250:201 and [3450:145 or equivalent]. Changes in national income, production, employment, price levels, long-range economic growth, short-term fluctuations of economic activity.

3250:405. Economics of the Public Sector. (3 Credits)

Prerequisites: [3250:200 and 3250:201] or 3250:244. Considers nature and scope of government activity, rationale for government intervention, problems of public choice, taxation and revenue-raising, cost-benefit analysis, program development and evaluation.

3250:406. State & Local Public Finance. (3 Credits)

Prerequisite: 3250:410; recommended: 3250:405. Examines economic rationale and problems for provision of goods and services by different governmental units. Considers alternative revenue sources and special topics.

3250:410. Intermediate Microeconomics. (3 Credits)

Prerequisites: [3250:200 or 3250:244] and [3450:145 or equivalent]. Advanced analysis of consumer demand, production costs, market structures, determinants of factor income.

3250:415. Cost-Benefit Analysis. (3 Credits)

Prerequisites: [3250:200 and 3250:201] or 3250:244. Introduction to tool for public project evaluation. Includes development of analytical framework and methods of determining benefits and costs over time. Stresses application of techniques.

3250:423. Applied Game Theory. (3 Credits)

Prerequisite: 3250:200. Application of the basic concepts of game theory (analysis of strategic behavior) to relevant economics issues including bargaining, cartels, voting, conflict resolution and non-competitive pricing.

3250:426. Applied Econometrics. (3 Credits)

Prerequisites: 3470:261, 3470:262, and [3250:200 and 3250:201] or 3250:244. Application of regression analysis to economic and social sciences data. Discusses typical problems from applied research, including estimation technique, hypothesis testing, and modeling framework.

3250:427. Economic Forecasting. (3 Credits)

Prerequisites: 3470:261, 3470:262, and [3250:200 and 3250:201] or 3250:244. Methods for building, identifying, fitting and checking dynamic economic models and use of these models for forecasting. Emphasis on application of available computer software systems.

3250:430. Labor Market and Social Policy. (3 Credits)

Prerequisite: [3250:200 and 3250:201] or 3250:244 or permission of instructor. Intensive study of current labor and social policy issues (e.g., discrimination, poverty, migration, education, demographic and labor market changes, impact of international trade on employment).

3250:432. Economics & Practice of Collective Bargaining. (3 Credits)

Prerequisite: 3250:200 or 3250:244. Principles and organization of collective bargaining, collective bargaining agreements, issues presented in labor disputes and settlements, union status and security, wage scales, technological change, production standards, etc.

3250:434. Labor Market Analysis and Evaluation. (3 Credits)

Prerequisites: 3250:410, 3250:426, 3250:430. Applied labor market research using specialized techniques. Employment, health, education, and other current policy issues and programs analyzed and evaluated. Original research project required.

3250:436. Health Economics. (3 Credits)

Prerequisites: 3250:100 or 3250:200 or 3250:244 or permission of instructor. Economic analysis of health care. Stresses health policy issues, includes study of demand and supply of medical services and insurance, analysis of health care industries.

3250:438. Economics of Sports. (3 Credits)

Prerequisites: 3250:100 or 3250:200 or 3250:244 or permission of instructor. Sports franchises as profit maximizing firms; costs and benefits of a franchise to a city; labor markets in professional sports; the economics of college sports.

3250:440. Special Topics in Economics. (3 Credits)

Prerequisite: Permission. Opportunity to study special topics and current issues in economics.

3250:460. Economics of Developing Countries. (3 Credits)

Prerequisites: [3250:200 and 3250:201] or 3250:244. Basic problems in economic development. Theories of economic development, issues of political economy and institutions. Topics include poverty, population, migration, employment, finance, international trade and environment.

3250:461. Principles of International Economics. (3 Credits)

Prerequisites: [3250:200 and 3250:201] or 3250:244, or permission of the Economics department. International trade and foreign exchange, policies of free and controlled trade, international monetary problems.

3250:475. Development of Economic Thought. (3 Credits)

Prerequisites: [3250:200 and 3250:201] or 3250:244, or permission of the Economics department. Evolution of theory and method, relation of ideas of economists contemporary to conditions.

3250:481. Monetary & Banking Policy. (3 Credits)

Prerequisites: 3250:380, 3250:400; or permission of the Economics department. Control over currency and credit, policies of control by central banks and governments, United States Treasury and Federal Reserve System.

3250:487. Urban Economics:Theory & Policy. (3 Credits)

Prerequisites: [3250:200 and 3250:201] or 3250:244, or permission of instructor. Analysis of urban issues from an economic perspective. Emphasis on urban growth, land-use patterns, housing, income distribution, poverty and urban fiscal policy.

3250:490. Individual Study in Economics. (1-3 Credits)

(May be repeated for a total of six credits) Prerequisite: Permission of instructor. Independent study in economics under supervision and evaluation of selected faculty member.

3250:491. Workshop: Economics. (1-3 Credits)

(May be repeated) Prerequisite: Permission of the Economics department. Group studies of special topics in economics. May not be used to meet undergraduate or graduate major requirements in economics. May be used for elective credit only.

3250:495. Internship in Economics. (1-3 Credits)

Prerequisites: 3250:200, 3250:201 and at least three additional courses in economics at the 300- or 400-level. Supervised placement in appropriate position in public or private sector organizations. Reports and written assignments required.

3250:496. Senior Project in Economics. (2 Credits)

Prerequisites: 3250:400, 3250:410, 3250:426. Corequisites: 3250:405 or 3250:423 or 3250:430 or 3250:460 or 3250:461 or 3250:475 or 3250:481 or 3250:487. Taken concurrently with or following a 400-level field Economics course. Involves independent out-of-class work on a project designed in consultation with the designated 400-level course instructor.

3250:497. Honors Project in Economics. (1-3 Credits)

(May be repeated for a total of six credits) Prerequisite: Senior standing in Honors College. Individual senior honors thesis on a creative project relevant to economics, approved and supervised by faculty member of the department.