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Courses in Economics

EC 105 Principles of Economics (4)
This courses is a one-semester combination of both micro- and macro-economics. In this course, students are introduced to analysis of supply and demand, national income theory, the banking system, fiscal and monetary policy and the corresponding usage for economic stabilization, theory of the consumer, theory of the firm, and other selected microeconomic topics.

EC 245 Statistics (4)
An introduction to the use of statistics. Topics include summary statistics, introduction to probability estimation, hypothesis testing, regression analysis, time series and non-parametric statistics. Prerequisite: EC 105 or equivalent.

EC 255 Quantitative Methods in Economics (4)
Fundamentals of business calculus paired with linear statistical modeling. Topics will include differentiation, integration, constrained optimization, multiple regression analysis, OLS, multicollinearity, and heteroskedasticity. Prerequisite: EC 245 or MA 123.

EC 265 Economics of Entrepreneurship (4)
This course will apply insights from economic theory to the practice of starting a new business or expanding a current business. The course will combine elements of strategy, marketing, and entrepreneurial finance courses as typically faced by all businesses. The course begins by examining general issues regarding entrepreneurship, such as product inception and the search for markets that can support entrepreneurial profits. The next section turns to specific strategic decisions that entrepreneurs make: pricing, advertising, product location, deterring entry by competitors, etc. The last section examines practical issues in entrepreneurship, e.g. finding capital, business plans, patent protection, negotiation, and employee compensation. Local entrepreneurs will provide
guest lectures on their entrepreneurial experiences and advice. Open to all majors. Will count as an elective in the economics major.

EC 312 Intermediate Microeconomics (4)
Theories of consumer behavior, business firms, pricing in different market structures, input markets and welfare economics are discussed at the intermediate level. Prerequisite: EC 105 or equivalent.

EC 318 Intermediate Macroeconomics (4)
Theories of national income determination, price level and economic growth and their application to public policy. Prerequisite: EC 105 or equivalent.

EC 319 Game Theory (4)
An introduction to game theory and how it can be applied in many different situations in economics, politics, law, and in everyday personal interactions. At the end of the course, students will be able to analyze and solve sophisticated games. Prerequisite: EC 105 or consent of the instructor.

EC 331 Agricultural Economics (4)
An introduction to the principles of economics including production principles; production costs, supply and revenue; profit maximization; consumption and demand; price elasticity; market price determination; and competitive versus noncompetitive market models. These principles are applied to agriculture and the role of agriculture in the United States and world economies. Other topics include a survey of the world food situation; natural, human and capital resources; commodity product marketing; and agricultural problems and policies. Prerequisites: EC 105 or equivalent.

EC 341 Money, Banking and Financial Markets (4)
A study of the theory of money and banking, factors influencing demand and supply of money, analysis of current policy issues, operations of commercial banks and the Federal Reserve System. Prerequisite: EC 105 or equivalent. Offered spring semesters.

EC 342 Public Finance (4)
Institutions and theories of government finance. The nature and economic effects of present and proposed tax policies, fiscal and debt management policies and government spending. Prerequisite: EC 105 or equivalent. (See PO 342.)

EC 344 Development Economics (4)
This course is an introduction to the theory of economic development. Why have some parts of the world developed economically while other parts of the world have remained underdeveloped? The purpose of this class is to develop a deeper understanding of the social, political, and economic conditions necessary to promote economic development.

EC 345 International Trade (4)
A study of the causes and consequences of international trade. Analysis of the effects of tariffs, quotas, other trade restrictions, and current proposed trade policies. Prerequisite: EC 105 or equivalent.

EC 372 Environmental Economics (4)
A theoretical analysis of environmental pollution generation and of suggestions for corrective policies. Emphasis is on resource allocation and the welfare and income distributional implications of public policy decisions. Prerequisite: 105 or equivalent.

EC 461, 462 Independent Study in Economics (1 - 4)
An individual reading or project course for advanced qualified students, under the direction of a member of the department, on a subject mutually satisfactory to student and instructor. May be repeated with different subject matter for a maximum of 6 hours. Prerequisite: consent of the department chair.

EC 463, 464 Internship in Economics (1 - 4)
A practical application of theoretical skills in actual job related situations. May be repeated for a maximum of 6 hours. Open to junior and senior majors. Prerequisite: consent of the department chair.

EC 465, 466 Independent Research in Economics (1 - 4)

EC 485 Senior Seminar (4)
Seminar devoted to special topics of themes, with individual research by participants. This seminar is designed to make connections between overarching themes in the various Journal of Economic Literature (JEL) subject classifications. This is a required senior experience and is open only to economics majors.