Economics (ECON)

12060 Personal Finance (3)
Examines economic issues and problems of everyday life. Goal is to enable individuals to analyze their personal finances in order to learn how to get the most out of their income, increase income through a better understanding of possible investments and protect what they have through selecting appropriate insurance. Topics covered include budgeting and financial planning, federal income taxes, insurance, borrowing, and investment principles and strategies. Prerequisite: none.

22060 Principles of Microeconomics (3)
Principles and policies affecting prices, including factor incomes, under alternative market structures. Tools developed to examine social problems, including poverty, crime, pollution and international relations. Prerequisite: MATH 10007 or 10022 or 10023 or 10024 or 11009 or 11010; or appropriate placement test score(s). This course may be used to satisfy the Kent Core.

22061 Principles of Macroeconomics (3)
Principles and policies affecting aggregate production, consumption, investment and government expenditures. Includes role of money, the banking system, inflation, unemployment and economic growth. Prerequisite: ECON 22060. This course may be used to satisfy the Kent Core.

32025 Money, Credit and Banking (3)
Organization of our money, credit and banking system; principles and problems of monetary policy. Not open to students who have completed ECON 32030. Prerequisites: ECON 22060 and 22061.

32030 International Money, Credit and Banking (3)
Organization and conduct of international money, credit and banking systems. Principles and problems of monetary policy. The financial systems in the United States and in other countries and the role of international organizations such as the International Monetary Fund, World Trade Organization and World Bank are studied. Not open to students who have completed ECON 32025. Prerequisites: ECON 22060 and 22061.

32040 Intermediate Microeconomic Theory and Applications (3)
The study of individual choices under conditions of relative scarcity and their consequences for prices; and the allocation of resources in the economic system. Develops the analytical and theoretical tools pertinent in determining how scarce resources are allocated among competing wants and demonstrates how these tools are used in real-world applications. Prerequisites: ECON 22060 and 22061.

32041 Intermediate Macroeconomic Theory and Policy (3)
Analysis of how an economy such as the United States operates from an aggregate perspective. The determination for the level of income, employment, inflation, international trade and economic growth is analyzed. Discussion of monetary and fiscal policies. Prerequisites: ECON 22060 and 22061.

32050 Applied Econometrics (3)
Application of econometric methods such as regression analysis to a variety of economic questions. Prerequisites: MATH 11012 or 12002; and ECON 22060 and 22061 and MIS 24056.

32070 Labor Problems (3)
Surveys of the major institutions, features and functioning of the labor market, as well as some of its outstanding problems. Does not count toward economics major or minor. Not open to students who have completed ECON 42072. Prerequisites: ECON 22060 and 22061.

32075 Introduction to International Trade (3)
Introduction to fundamental principles and problems of international trade. Covers comparative advantage, government policies affecting trade, free trade vs. protection, international institutions and exchange rates. Offered only in the Geneva program. Prerequisite: ECON 22061.

32082 Introduction to Managerial Economics (3)
Combines economic theory and quantitative analysis to develop resource-allocation decision-making skills which enable managers to evaluate problems, identify possible solutions and finally implement and monitor the best alternative to accomplish their stated objectives. Covers such topics as supply and demand, consumer theory, production, costs, contracts, game theory and principal-agent problems, as well as the basic economic models of perfect competition, oligopoly, monopolistic competition and monopoly. Prerequisite: ECON 22060. Cannot be taken by economics majors. Not open to students who have completed ECON 32040.

32083 The Economics of Poverty (3)
Nature and causes of poverty in United States. Analysis of impact of poverty upon economy and study of measures both real and potential for alleviating it. Prerequisite: ECON 22060. This course may be used to satisfy the domestic diversity requirement.

32084 Economics of the Environment (3)
Examines economic theory of environmental and resource economics in a fashion that is understandable by students with varied backgrounds in economics. Emphasis on microeconomic theory and its application to environmental issues. Topics covered include: “market failure” and its impact on the environment; cost-benefit analysis; and input-output analysis. Designed for those interested in the environment or who may be planning careers in environmental or natural sciences. Prerequisite: ECON 22060.

32086 Economics of Education (3)
Economic aspects of primary, secondary and higher education. Returns examined with respect to individuals and society. Covers educational finance and efficient production of education. Prerequisite: ECON 22060.

42040 Introduction to Econometrics (3)
Application of economic models, probability distributions, estimation, estimators and regression and correlation as tools in economic analysis. Prerequisites: MATH 11012 and ECON 32040 and 32041.

42045 Mathematical Economics (3)
Systematic exposition of mathematical techniques and their application to economic analysis. Among topics that may be covered: sets; relations/functions; matrix algebra; differentiable and integral calculus; and optimization techniques. Prerequisites: ECON 32040 and 32041.

42065 Problems of Monetary and Fiscal Policy (3)
Analysis of objectives, techniques and economic effects of monetary and fiscal policies. Prerequisites: ECON 32025 and 32041.

42068 Industrial Organization and Public Policy (3)
Theoretical, empirical and critical examination of structure, operation and performance of industrial markets in American economy. Prerequisite: ECON 32040.

42072 Economics of Labor Markets (3)
The economic analysis of the decisions of workers and firms in determination of wages and employment. Topics include labor supply decisions, marginal productivity theory, discrimination, demand for education, effects of trade unions. Prerequisite: ECON 32040.

42075 International Economic Relations (3)
Principles, problems and policies of international economic relations, with extensive references to the United States, Western Europe, Latin America and former communist countries. Covers international aspects of interdependency, cooperation and multinational institutions. Prerequisites: ECON 22060 and 22061.

42076 Economic Development (3)
Analysis of nature of significance of barriers to and future potential for economic development of a nation. Special emphasis on theories and strategic factors pertaining to economic growth. Prerequisites: ECON 22060 and 22061.

42078 Economic History of Technological and Industrial Development (3)
Historical survey of major economic and technological developments in Western countries from the middle ages to the 20th century. Prerequisites: ECON 22060 and 22061 or special approval of instructor.

42080 Regional Economics (3)
Examines techniques of regional economic analysis to promote understanding of interregional disparities in developed nations and suggests policy alternatives for alleviating problems arising from disparities. Prerequisites: ECON 22060 and 22061.

42081 Urban Economics (3)
Application of economic principles to urban spatial patterns, economic development and public policy in housing, transportation, pollution, welfare, etc. Prerequisites: ECON 22060 and 22061.

42083 History of Economic Thought (3)
Economic thought from Mercantilist Period to early 20th century, especially emphasizing theories of Classical School, Marginalists, Marx and neoclassicists. Prerequisite: 12 credit hours of economics (ECON).

42085 Public Finance (3)
Examination of public expenditure and taxation policies including the theory of public goods, collective decision making, cost-benefit analysis, equity and efficiency aspects of taxation and current government policy issues. Prerequisite: ECON 22060.

42086 Economics of Health Care (3)
Overall objective is to use economic analysis to understand and evaluate what has happened and is happening to the health care profession as well as current health care policies under consideration. Topics include issues such as Medicare, health care reform, HMOs and increasing costs in health care. Prerequisite: ECON 22060.

42087 Law and Economics (3)
A study of the economic foundations of the legal system and the impact of legal systems on market behavior. Prerequisites: ECON 22060 and 22061 or special approval of instructor.

42191 Senior Seminar in Economics (3)
(Repeatable for credit) Advanced investigation of selected topics in economic analysis and issues in economic policy. Prerequisites: ECON 32050 or MATH 40012; and ECON 32040 and 32041. This course may be used to satisfy the writing-intensive requirement with approval of major department.

42291 Variable Content Seminar in Economics (1-4)
(Repeated registration permissible when topic varies; repeatable for a total of 12 credit hours) Various special seminars will be announced in the Schedule of Classes under this course number. Prerequisite: special approval.

42292 Internship in Economics (3)
(Repeatable for credit) Supervised practical experience in economics. Eligibility requirements available from the internship coordinator. Does not count toward economics major. May count as business elective. S/U grading; IP grade permissible. Prerequisites: economics (ECON) major and junior standing and special approval.

42293 Variable Topic Workshop in Economics (1-6)
(Repeated registration permissible when topic varies; repeatable for a total of 18 credit hours) Various special workshops will be announced in the Schedule of Classes under this course number. S/U grading. Prerequisite: special approval.

42295 Special Topics in Economics (3)
(Repeated registration permissible when topic varies; repeatable for a total of 9 credit hours) Various special topics will be announced in the Schedule of Classes under this course number. Prerequisite: special approval.

42296 Individual Investigation in Economics (1-3)
(Repeatable for credit) Independent study done under the supervision of a faculty member. Written approval of supervising faculty member and department chair required prior to registration. IP grade permissible. Prerequisites: senior economics major; special approval.

42297 Variable Topic Colloquium in Economics (1-3)
(Repeated registration permissible when topic varies; repeatable for a total of 9 credit hours) Various special colloquia will be announced in the Schedule of Classes under this number. Prerequisite: special approval.

42298 Research in Economics (1-6)
(Repeatable for credit) Research project done under the supervision of a faculty member. Written approval of supervising faculty member and department chair required prior to registration. IP grade permissible. Prerequisites: senior standing and economics (ECON) major and special approval.

42299 Senior Project (1-3)
(Repeatable for credit) Thesis or independent study project done under the supervision of a faculty member. Written approval of supervising faculty member and department chair required prior to registration. IP grade permissible. Prerequisite: senior standing and economics (ECON) major.