Descriptions of Economics Courses

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EC101 and EC103--introductory courses
EC205 and EC207--quantitative skills
EC301--history of thought
EC303--public finance
EC305--urban economics
EC311 and EC312--macro and micro theory
EC315--comparative systems
EC317--international econ.
EC321--econ. development
EC327--special topics
EC331--labor econ.
EC335--money and banking
EC339--business and gov't
EC351--environmental econ.
EC410--senior seminar

EC101 and EC103 are three credit courses; all others carry four credits. Required courses are offered every year and electives are generally offered every other year. As a rule both EC101 and EC103 are prerequisites for enrollment in upper level courses, but exceptions may be granted by the instructor.

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Economics Courses

Introductory Courses

EC101-103 Principles of Macro- and Microeconomics

An introduction to the methodology and analytical tools used by economists. Economic theory, policy and history are examined with major emphasis placed on macroeconomics (101) and microeconomics (103). Students may start with either EC 101 or 103; they need not take both semesters to get credit.

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Basic Quantitative Skills

EC205 Statistics for Economics

This course develops the conceptual framework of statistical thinking. Then it examines applications in experimental design, statistical description, and inference, as these relate to such topics as probability distributions, regressions, correlation, analysis of variance, and so on. Students work with a computerized statistical package and prepare a report.

EC207 Mathematics for Economists

An introduction to calculus and its application to economic theory. Topics include static models; elasticity and partial elasticity; minimization, maximization, and constrained optimization; integrals; and dynamic models.

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EC301 History of Economic Thought

The evolution of major schools of economic thought and the principal developments and debates in economic theory. Discussion begins with Aristotle, but the emphasis is on developments beginning with şmodernş economics, about 1800, and concluding with an outline of some current trends in economic thought

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EC303 Public Finance

Study of the theoretical and actual role of government in the economy and of the governmental budget-making process. The focus is on the various tax and spending programs used to achieve economic goals, with emphasis on the federal level of government in the U.S. Includes some study of state and local governments, as well as international comparisons.

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EC305 Urban Economics

Examines the strengths and weaknesses of urban areas. This course studies the complex interaction of political, sociological, and economic factors affecting urban areas, and emphasizes standard analytical tools for urban economic analysis.

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EC311 Macroeconomic Theory

Concentrated study of economic theory at the şmacroş level. Examines topics such as consumer behavior, investment expenditures, government taxes and expenditures, with a view toward providing a consistent model of income determination. Among the topics examined with this model are fiscal versus monetary policy, balance of payment deficits, growth of an economy through time, inflation, and unemployment.

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EC312 Microeconomic Theory

The study of economic theory and applications at the "micro" level. Topics include the development of demand theory, the determination of optimum output levels for the individual firm and industry, and determination of rewards for inputs to production. The propositions of welfare economics are considered, and general equilibrium analysis provides an overview of the system as a whole.

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EC315 Comparative Economic Systems

Study of major contemporary economic systems, both in their pure forms and as actually observed. Topics include the structure, policy making, and performance of various types of capitalist systems; the problems encountered as nations modify their economic instututions and goals; and especially current problems of economic integration in Europe.

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EC317 International Economics

An overview of the nature of and reasons for international movements of merchandise and factors of production, the measurement of balance of payments transactions, the determination of exchange rates, and other topics This course includes theoretical analysis, brief historical background, and coverage of contemporary issues in policy coordination and trade negotiation.

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EC321 Economic Development

Study of theories explaining economic growth and of the problems and policy choices associated with industrialization. The course emphasizes nations currently seeking to develop, with some examination of the past growth experience of industrialized countries.

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EC327 Topics in Economics

Intermediate seminar, the subject matter of which will vary from year to year depending on staffing. Enrollment will be limited and preference given to juniors. Consult with the instructor before enrolling to ascertain topics to be studied.

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EC331 Economics of the Labor Market

Analysis of current labor market theories and experience. Topics include labor force characteristics, labor supply and demand, wages, human capital investment, discrimination, income inequality, and unemployment. Also included is an appraisal of the effects of unions and of government policies on the economic position of labor.

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EC335 Money and Banking

A study of the theories and institutions of the monetary and credit system. Focus is on the role of money and credit in the U.S. economy and their impact on such variables as prices, wages, and investment. The course will emphasize recent developments, with particular attention to recent regulatory changes and their impact on the effectiveness of monetary policy.

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EC339 Business and Government

An examination of analytical and empirical problems in government policies toward business. Topics include market and government failures, antitrust and monopoly problems, and the effects of regulation and deregulation. Emphasis on economic analysis as a guide for the formulation and evaluation of government policy.

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EC351 Environmental Economics

Study of the role of natural resources in the economy and the role of government in dealing with environmental problems. The course examines various environmental policy instruments and the application of benefit-cost and cost-effectiveness analysis in policy decision making. Current United States environmental policies are evaluated.

EC351 counts towards the Environmental Studies Minor and Environmental Science Major.

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EC391 Introduction to Econometrics

A survey of economics devoted to the statistical testing of propositions derived from economic theory. Both the derivation and application of such tests will be covered, with emphasis on multiple regression analysis. No prior computer experience is required; students will be introduced to widely-used statistical programs such as SPSS and TSP.

This course is recommended for students going to graduate school in economics. EC205 (or an equivalent) is a prerequisite.

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EC410 Senior Seminar in Economics

A review of research methods and skills used in economics leading to preparation of an original research proposal on a topic of the student's choice. This is followed by independent research, writing, and presentation of results. Close guidance is provided by the instructor.

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