Economics

ECON 1301. Introduction To Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

This course is a survey of microeconomic and macroeconomic principles for non-business majors. In this course, students are encouraged to use their common sense to understand economic principles and applications. Microeconomic topics will include supply and demand, consumer behavior, price and output decisions by firms under various market structures, factor markets, market failures, international trade, and exchange rates. Macroeconomic topics will include national income, unemployment, inflation, business cycles, aggregate supply and demand, monetary and fiscal policy, and economic growth.

ECON 2301. Principles of Macroeconomics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

This course focuses on the aggregate or overall economy. Topics include the measurement and determination of economic aggregates such as Aggregate Demand and Aggregate Supply, national income, inflation, and unemployment. Other topics include international trade, economic growth, business cycle, fiscal policy, and monetary policy. Prerequisites: MATH 1314, MATH 1332, MATH 1324, MATH 2412, MATH 2413, MATH 1342, or concurrent enrollment, or approval of department head.

ECON 2302. Principles of Microeconomics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

Analyzes the behavior of individual economic agents, including consumer behavior and demand, producer behavior and supply, and price and output decisions by firms under various market structures. Other topics include an in-depth study of resource factor markets, market failure, and international trade. Prerequisite: MATH 1314, MATH 1332, MATH 1324, MATH 2412, MATH 2413, MATH 1342, or concurrent enrollment, or approval of department head.

ECON 3301. Intermediate Macroeconomics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

This course extends the study of the aggregate economy introduced in Economics 2301 with emphasis on theory. Topics include the Classical and Keynesian systems, general equilibrium theories, economic growth, and public policy in a global setting. Prerequisite: ECON 2301.

ECON 3302. Intermediate Microeconomics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

This course represents a more advanced study of microeconomic theory than is possible in Economics 2302. Topics include consumer behavior, production and cost theory, market structure, and factor markets. Prerequisite: ECON 2302, or AGEC/AGRI 2317 or equivalent.

ECON 3303. Money And Banking. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

A study of the structure and functions of financial markets and financial intermediaries; the behavior and pattern of interest rates; the basic concepts of commercial bank management; the nature of money and the role of the Federal Reserve in its creation; the basic structure of the economy and the impact of monetary actions on this structure. Prerequisite: ECON 2301.

ECON 3304. Environmental Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

The study of the economics of the natural environment. Economic tools and issues such as social cost, externalities, cost-benefit analysis, property rights, and state and federal environmental policies will be examined with emphasis on problems associated with water pollution, waste disposal, and society's burden of social costs. Prerequisite: 3 hours ECON or AGRI/AGEC 2317.

ECON 3305. Economics of Financial Markets. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

A study of the aggregate financial system and capital markets and the impact these have on financial intermediaries. Topics to be covered are: flow of funds analysis, interest rate theory, role of financial intermediaries, and management of financial assets. Credit for both FINC 3304 and ECON 3305 will not be awarded. Prerequisites: ECON 2301.

ECON 3306. Political Economy. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

A study of the historical, philosophical, and theoretical relationships between the state and the economy. Credit for both POLS 3306 and ECON 3306 will not be awarded. Prerequisite: 3 hours of ECON.

ECON 4084. Internship. 1-6 Credit Hours (Lecture: 0 Hours, Lab: 1-20 Hours).

Preapproved and supervised work experience in a Economics related position with a public or private business organization. May be repeated for a total of 6 hours credit. Prerequisite: Approval of department head.

ECON 4086. Problems. 1-3 Credit Hours (Lecture: 0 Hours, Lab: 1-3 Hours).

Independent reading, research and discussion. Entry into this course will be arranged with the Economics counselor. Prerequisites: Approval of department head.

ECON 4090. Special Topics in Economics. 1-3 Credit Hours (Lecture: 1-3 Hours, Lab: 1-3 Hours).

An examination of current topics in economics. Readings required from current economics publications and other related periodicals. May be repeated for credit when topics vary. Prerequisite: Approval of department head.

ECON 4301. International Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

An introduction to international economic theory and policy, the foundations of modern trade theory and its extensions, welfare effects of tariffs and non-tariff barriers, commercial policies of the United States, trade policies of developing countries, multinationals, balance of payments, and foreign exchange markets. Credit for both ECON 4301 and AGEC 4302 will not be awarded. Prerequisite: 3 hours ECON or AGEC/AGRI 2317.

ECON 4302. Developmental Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

An introduction to theories of economic development. Much of the course focuses on the sources of economic growth, inequality, and poverty, and what “development” means beyond financial growth. Other topics include population growth, migration, human capital, agriculture, the environment, international trade and finance, and good governance. The twin concepts of market failure and government failure are seen throughout the course Prerequisite: Six hours of economics.

ECON 4311. Econometrics and Forecasting. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours). [WI]

Econometrics is the science of using statistics to estimate economic relationships, test theories, and evaluate the impacts of government and business policies. Econometrics is also used to forecast or predict how economic variables, stock prices, and other time-varying economic indicators behave. It is used not only in economics, but in fields as diverse as finance, marketing, political science, sociology, biology, and even comparative literature. This course is data-driven as students apply what they have learned in other courses to specific, testable research questions. Credit will not be granted for both ECON 4311 and Econ 5311. Prerequisites: ECON 2301, ECON 2302, and one of the following: BUSI 2305, MATH 3311, AGEC 3317, or MATH 1342.

ECON 4320. Health Care Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

This course is intended to provide important background information surrounding the health care reform debate and address a spectrum of economic and policy issues impacting the health care industry. A basic overview of the health care industry emphasizing the economic issues affecting medical care delivery and finance is provided. The demand side and the supply side of the health care market are studied with the ultimate focus on the use of the technical tools of economics to address public policy issues. Emphasis is placed on the changing nature of health care and its implications for medical and health industry. Prerequisite: ECON 1301, 2301, OR 2302.

ECON 4385. Seminar in Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

A study of selected topics dealing with problems or unique needs of Economics. May be repeated for credit as topics vary. Prerequisite: Approval from department head.

ECON 5086. Problems. 1-3 Credit Hours (Lecture: 0 Hours, Lab: 2-6 Hours).

This course offers students the opportunity to become acquainted with current research being conducted within the student's area of interest; directed reading of a number of sources selected in concert by the student's professor. Prerequisite: Approval of department head.

ECON 5308. Managerial Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

Applies economic theory and methodology to business and administrative decision-making. The tools of economic analysis are demonstrated and their use in formulating business policies is explained. Topics include concepts of profits, production and cost functions, demand theory, competitive pricing policies, and business criteria for investment output and marketing decisions. Prerequisite: Approval of MBA Director.

ECON 5311. Econometrics and Forecasting. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

Econometrics is the science of using statistics to estimate economic relationships, test theories, and evaluate the impacts of government and business policies. Econometrics is also used to forecast or predict how economic variables, stock prices, and other time-varying economic indicators behave. It is used not only in economics, but in fields as diverse as finance, marketing, political science, sociology, biology, and even comparative literature. This course is data-driven as students apply what they have learned in other courses to specific, testable research questions. Credit will not be granted for both ECON 4311 and Econ 5311. Prerequisites: COBA 5103 and COBA 5104, or MATH 5305, or AGEC 5317, or equivalent undergraduate preparation.

ECON 5320. Health Care Economics. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

This course is intended to provide important background information surrounding the health care reform debate and address a spectrum of economic and policy issues impacting the health care industry. A basic overview of the health care industry emphasizing the economic issues affecting medical care delivery and finance is provided. The demand side and the supply side of the health care market are studied with the ultimate focus on the use of the technical tools of economics to address public policy issues. Emphasis is placed on the changing nature of health care and its implications for medical and health industry. The course is accessible for non-economics majors. Credit will not be given for both ECON 4320 and 5320. Prerequisites: None - Some background in accounting, economics and finance is helpful.

ECON 5359. Economic Applications and Issues. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

Seminar examination of the application of economic theory in the firm (micro) and in the overall economy (macro); in-depth research and analysis of current economic issues through critical examination of the professional literature and the current environment of business government. Prerequisite: ECON 4365 Intermediate Economics or Micro and Macroeconomics.

ECON 5364. Seminar On Global Commerce. 3 Credit Hours (Lecture: 3 Hours, Lab: 0 Hours).

Focuses on global competitive challenges facing business management teams. Students will evaluate how companies have strategically entered and developed international markets and managed global diversification. Students will learn to analyze international market potential, assess business risks and become familiar with institutions and national policies directing international trade. Prerequisite: ECON 4365 Intermediate Economics or Micro and Macroeconomics.