Economics (BA)

Assistant Professor Roy E. Robbins, Chairperson

The faculty of the Economics Department is committed to the training of students in preparation for employment in the economics area or related areas or in preparation for further study in graduate school or professional schools. This training has three aspects: (1) competence in the use of economics with its quantitative and theoretical aspects, (2) the application of these quantitative and theoretical techniques to contemporary problems and issues, and (3) consideration of the moral aspects of the application of these techniques to those contemporary problems and issues.

B.A. degree with Major in Economics -- 128 semester hours.

Major -- 30 hours. Required:EC2301, 2303, 3310, 3346, 3347, 4335, plus 12 hours.*
*Economics majors are required to take BA 3351, and PS 3381 or equivalent.

Minor -- 21 hours. Required: EC 2301, 2303, 3310, 3346, 3347, plus 6 hours.

Teacher certification: First or Second Teaching Field -- 24 hours. Required : EC 2301, 2303, 3302, 3310, 3333, 3342, 3346, and 3347.

Prerequisites for all upper division courses are EC 2301 and EC 2303 plus a mathematics sequence. This sequence should beMT1305 andMT1306 orMT1411 and MT 2412 . Students planning to do graduate work in Economics should also take MT 2413 and MT 3324.

All upper division classes are writing intensive.

EC 2301 Introductory Macroeconomic Theory (ECON 2301) 3 sem. hours
The content of this course includes an introduction to supply and demand, production possibilities, Gross Domestic Product, consumption, savings, investment, government expenditures, taxes, money and banking, fiscal and monetary theory, classical, Keynesian, rational expectation theories, international trade and finance.

EC 2303 Introductory Microeconomic Theory (ECON 2302) 3 sem. hours
The content of this course includes an introduction to supply and demand, production possibilities, product markets (perfect competition, monopoly, monopolistic competition, oligopoly) and factor markets (perfect competition, mo-nopsony) efficiency in production and consumption, general discussion of markets.

EC 3302World Economic Geography (formerly EC 1302) 3 sem. hours
This course examines the spatial relationships of econonic activities including production and trade. The importance of transportation, location of natural resources, and urban and regional development in the United Stataes and other nations is examined.

EC 3310 International Economics (same as IB 3310) 3 sem. hours
This course is a survey of international trade and international finance topics. The international trade portion will study major theories of international trade, tariff analysis, economic integration, and factor mobility. The international finance portion will examine balance of payments, foreign exchange markets, international investment, and macroeconomic stabilization. The use of the Internet as a tool of research and international business will be stressed. Social and ethical issues will also be studied and analyzed.

EC 3311 Economic Growth and Development 3 sem. hours
This course introduces students to the major theories of economic growth and development. Issues considered include rural-urban migration, capital formation, education, international trade and finance, and import substitution as factors affecting economic growth. Institutional factors and cultural values are examined.

EC 3315 Inter-American Economic Problems 3 sem. hours
Examines major aspects of Latin American production, income distribution, labor force, foreign investment, and trade. Surveys major contemporary issues including the “Debt Crisis” and Maquiladoras.

EC 3325 Economic Thought 3 sem. hours
This course considers the foundations of contemporary economic theory. Economic methodology is addressed as well as issues concerning economics and ethics. Some attention is given to ancient and medieval thought, but the major portion of the course begins with an examination of Adam Smith. The contributions of classical, neo-classical, and modern writers are considered. Issues in socioeconomic teachings of the Catholic Church and economic theory are considered.

EC 3330 Money and Banking 3 sem. hours
Principles of money and credit; historical development and the status of the American banking system; Federal Reserve Bank operations and policy; credit controls, debt management, and monetary policy. Theory of international monetary cooperation.

EC 3332 Financial Institutions (same as FN 3330) 3 sem. hours
Review of operations of financial intermediaries including banks, saving institutions, and insurance companies. Principles of money and credit; review of central banking and monetary policies, both national and international. Prerequisite: AC 2320.

EC 3340 Public Sector Economics 3 sem. hours
This course applies economic theory to issues concerning the public sector. Issues such as income distribution, taxation and subsidies, poverty, education, and public goods are considered.

EC 3346 Intermediate Macroeconomic Theory (formerly National Income Analysis) 3 sem. hours
This course examines classical, Keynesian, and post-Keynesian fiscal and monetary economic theory, including rational expectations. Monetarist perspectives and theories underlying money and banking are included.

EC 3347 Intermediate Microeconomic Theory (formerlyPrice Theory) 3 sem. hours
The content of this course includes supply and demand, indifference curve analysis, perfect and imperfect product and factor analysis, complementary factors of productions, elementary game theory, and Coase theorem. Efficiency is considered in production and consumption in the context of constraints.

EC 3350 Labor Economics 3 sem. hours
Examination of the history of the labor movement in the United States and various models of labor markets. Considers functions and types of unions, public and private employment, effects of legislation and regulation such as minimum wage, equal employment legislation, safety rules, etc., upon labor markets.

EC 3355 Economics of Natural Resources and Environment 3 sem. hours
Consideration of the use of resources including water, minerals, fish and animal life, forests and air from the perspective of markets, property rights, and social benefits and costs. Considers the effects of time on economic analysis of resource use.

EC 4335 Econometrics 3 sem. hours
Application of statistical methods and economic theory for empirical research in economics. Prerequisite: PS 3381 or equivalent or permission of the instructor.

EC 4340 Selected Topics in Economics 3 sem. hours
Consideration of selected topics in economics. Preqrequisites vary with topic. May be taken more than once if topics vary.

EC 4385 Internship in Economics 3 sem. hours
Experience-based education in an approved employment activity in the public or private sector. Under the supervision of an elected, administrative, or planning official, the student will do research, analysis, evaluation, or report writing. Credit is based upon material submitted to the Internship Coordinator, evaluations by the supervisor and other measures as determined by the Coordinator.

EC 4386 Senior Project in Economics 3 sem. hours
Under the direction of Economics faculty, the student will do research in a theoretical area of personal interest. Students will apply theoretical, mathematical, statistical, and computer science skills acquired in this degree program in developing the research project. The student will present the project and defend it, including the methodology used and its conclusions, before a panel of three faculty members, two of whom must be from the Economics department.