Prerequisites for Courses in Economics
College Algebra
(21:640:112 or 21:640:113) or tested proficiency in college algebra is a
required prerequisite for all courses in the department other than
Introduction to Economics, Micro (21:220:101); Introduction to
Economics, Macro (21:220:102); and Economic Analysis of Social Problems
(21:220:200); 21:220:101 and 21:220:102 (or their transfer equivalents)
are prerequisites for all economics courses at the 300 level or higher.
Economics courses at the 400 level have additional prerequisites as
noted below.
Additional Note on Introduction to Economics
Introduction to
Economics, Micro (21:220:101) and Introduction to Economics, Macro
(21:220:102) can be taken in either order. Even though proficiency in
college algebra is not a required prerequisite for these two courses,
students who have difficulty with mathematics should consider delaying
these courses until after they have passed college algebra (21:640:112
or 113).
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21:220:101
Introduction to Economics, Micro (3)
Consumer theory and market demand; production theory and market
supply; market equilibrium; income distribution; and international
trade.
Proficiency in 21:640:113 College Algebra is highly recommended.
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21:220:102
Introduction to Economics, Macro (3)
Major issues confronting the American economy: the nature of our
private enterprise system; the role of government; the influence of the
banking system; the problem of controlling inflation and deflation; and
the requisites for a high level of national income, employment, and a
rising standard of living.
Proficiency in 21:640:113 College Algebra is highly recommended.
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21:220:200
Economic Analysis of Social Problems (3)
Introduction to economic principles (both micro and macro) with
applications to current social problems. Intended for students who plan
to take only a single semester of economics. Topics include distribution
of income, poverty, education, crime, health care, pollution,
discrimination, unemployment, inflation, and the role of government in a
market economy.
May not be taken for credit by students who have already received credit for 21:220:101 Introduction to Economics, Micro and/or 21:220:102 Introduction to Economics, Macro; nor can it be used as a substitute for those two courses to satisfy any other requirements or prerequisites that currently require 21:220:101 and/or 102. Not open to economics or business majors.
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21:220:231
Statistical Methods (3)
Descriptive statistics, probability, sampling, estimation, hypothesis
testing, and regression analysis; realistic application with the
computer employed as a major tool.
Not open to students who have taken a course in statistics or its equivalent in another department.
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21:220:303
Economics of Industrial Relations (3)
Development of labor organization in the United States, from its
origins to the present; examination of public policy toward unions and
collective bargaining; analysis of collective bargaining agreements;
private techniques and public policy for settling industrial disputes.
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21:220:304
Economics of Labor (3)
Analysis of the market forces determining employment, wages, hours,
and productivity in the firm and economy; influence of union
organization, collective bargaining, and public policy on the labor
market; historical and cyclical behavior of the labor force and
earnings.
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21:220:305
Development of the American Economy (3)
The origins, development, and transformation of the American economy.
Illustrations of the operation of "economic law" through examination of
various aspects of the country's past from the colonial period to the
present.
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21:220:312
Women in the American Economy (3)
The economic aspects of the role of women in our society; changes in
this role over the course of the 20th century and continuing changes.
The basic focus is work--in the home and in the labor market--and the
division of labor. Topics include labor force participation,
discrimination, relative earnings, birth rates, and family size.
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21:220:315
Managerial Economics (3)
The economic foundation of managing the private enterprise; demand
forecasting, pricing, cost analysis and competitive strategy, and
capital budgeting; integration of microeconomics and strategic planning
with case studies; emphasis on practical application of economics to
business decisions.
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21:220:316
Economics of Health (3)
Economic analysis of the U.S. health care sector; theories of consumer
demand for health and medical care, physician behavior, and hospital
administration; economic aspects of health policy issues such as
national health insurance, competition between medical care providers,
medical cost inflation, and public health programs.
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21:220:322
Introduction to Econometrics (3)
Application of regression and other statistical techniques to economic
problems; classical linear regression model developed with analysis of
the underlying assumptions and the consequences of their violation; use
of econometric techniques in micro- and macroeconomic problems;
computer-assisted applications.
Prerequisite: 21:220:231.
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21:220:323
Intermediate Microeconomic Theory (3)
Development of the fundamental tools of price and distribution theory;
analysis of commodity and factor price determination under competitive
and noncompetitive market conditions from the standpoint of the
household and the firm; and introduction to welfare economics.
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21:220:324
Intermediate Macroeconomic Theory (3)
Theoretical analysis of national income, employment, and price-level
determination; roles of consumer and investor demand, interest rates,
money supply, and fiscal and monetary policy considered within the
framework of Keynesian, post-Keynesian, monetarist, and new classical
theories.
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21:220:327,328
History of Economic Thought (3,3)
First semester: the evolution of economic doctrines from the Middle
Ages to about 1870, emphasizing the writings of Smith, Ricardo, Malthus,
Mill, Marx, and their critics. Second semester: neoclassical and
Keynesian theory.
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21:220:335,336
International Economic Relations (3,3)
Theoretical and practical considerations underlying international
trade and finance; economic effects of tariffs and exchange
restrictions; foreign investment and the problems of underdeveloped
areas; and a review of the U.S. foreign aid program and the work of
international financial institutions.
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21:220:337
Public Finance (3)
Economics of the public sector emphasizing the functions of allocation, distribution, and stabilization; equity and efficiency in the provision of public services; fiscal federalism and comparative fiscal systems, emphasizing major expenditures and revenue sources; and the political economy of regulation and public choice theories.
Prerequisite: 21:220:323.
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21:220:339
Economic Development (3)
Review the alternative theories of economic development and examine
the process of economic development in an international perspective.
Examination of the broad diversity of experience in selected Pacific Rim
countries used as a point of departure to illustrate the validity of
alternative development theories. Although emphasis is placed on East
Asian countries, comparison between East Asian and Latin American
countries is made in the context of the political-economic approach.
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21:220:340
Real Estate Economics (3)
Economic
analysis of residential and commercial real estate, including the
demand for and supply of residential housing; real estate price indices;
analysis of policies that restrict development and policies that
promote home ownership; and the history of U.S. and international real
estate markets, including "bubbles." The course also surveys commercial
real estate property valuation and development.
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21:220:341
Real Estate Finance (3)
Introduction
to the financing of real estate, both residential and commercial. The
course examines different types of residential mortgages, the pricing of
these mortgages including the effects of prepayment and default risks,
the role of secondary market for mortgages, the securitization of
mortgages, the pricing of derivative assets, the financing of income
producing real estate, and real estate equity markets and institutions.
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21:220:353
Urban and Regional Economics (3)
Economic analysis of the growth and development of central cities and
metropolitan regions; theories of industry location and distribution of
employment opportunities within metropolitan areas; public policies
affecting jobs, education, housing, transportation, and criminal
activities.
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21:220:356
Business Cycles (3)
Results of empirical investigations of business fluctuations, with
emphasis on the nature of short-run cyclical variations and secular
growth; leading types of business cycle theory reviewed; a systematic
study made of the general relation between income and employment, money
and prices, savings and capital formation, and their influence on
self-generating cyclical movements; the nature and effectiveness of
monetary and fiscal policy also reviewed.
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21:220:361
Competition, Strategy, and the Organization of Industries (3)
Theoretical analysis of economic behavior under different market structures; welfare criteria
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21:220:365
Money and Banking (3)
The structured operation and consequences of the monetary system, the
role of money and banking in the organization and fluctuations of our
economic system, and recent changes in the functions of the Federal
Reserve System.
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21:220:367
Monetary Economics (3)
Theory
of the demand and supply of money and of monetary disturbances;
historical development and current state of monetary theory and policy.
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21:220:402
Advanced Econometrics (3)
Intensive introduction and extension of the classical regression
model; simultaneous model estimation, simulation, and evaluation;
specification error analysis; nonlinear estimation; and time series
methods.
Prerequisite: 21:220:322.
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21:220:406
Seminar in Applied Economics (3)
Examination of empirical studies current in the economics literature;
original research project and presentation of findings and progress in oral and written form.
Prerequisite: 21:220:322 or permission of instructor.
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21:220:407,408
Labor Seminar (3,3)
Completion of one or more papers in a specialized area of the labor
market, such as employment, income distribution, wages, collective
bargaining, and productivity, or in industrial relations, such as the
history and structure of labor organizations, and public policy toward
unions and collective bargaining.
Prerequisite: 21:220:303 or 304.
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21:220:409
Introduction to Mathematical Economics (3)
Introduction to the use of mathematics in economic analysis; survey of
the economics and finance literature that employs calculus and basic
topology.
Prerequisite: 21:640:119 or equivalent.
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21:220:414,415
Analysis of Current Economic Conditions (3,3)
Detailed study of the major indicators of economic conditions, their derivation, historical movements, current position, and their role in assessing economic change.
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21:220:439
Financial Economics (3)
Establish financial market fundamentals; survey asset pricing theories; examine market patterns and trading strategies.
Prerequisites: 21:220:231 and 323.
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21:220:499
Individual Study in Economics (BA)
Prerequisites: Permission of department chair and instructor. Restricted to economics majors in their last semester before graduation. Maximum of 3 credits.
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