Economics: Course Descriptions

Semester Designation

      F = course offered fall semester

    Sp = course offered spring semester

    Su = course offered summer semester

    DD = course offered at the discretion of the department

Waiving of any course prerequisites requires prior departmental authorization

ECONOMICS COURSES

ECO 101 Current Issues In The Economy
Offered: F, Sp, Su. Introductory course covering current economic events and economic problems facing society. Topics include health care, the environment, crime and poverty, globalization, and recession and growth in the national economy. As the economic aspects of these issues are explored, the student is introduced to the methods used by economists to analyze problems and to develop possible solutions.

ECO 260 Principles Of Macroeconomics
Offered: F, Sp, Su. Introduction to basic principles of economics with emphasis on the analysis of unemployment, GDP, inflation, and public debt; discusses fiscal and monetary theories and public policies.

ECO 261 Principles Of Microeconomics
Offered: F, Sp, Su. Introduction to economic fundamentals with emphasis on supply and demand analysis, factor markets, different market structures, international economics, and various economic problems.

ECO 283 Intro to Res. Methods in Econ.
Offered: DD. Introduction to basic research methods in economics. Individual and team projects involving methods for solving economics-related research problems. Prerequisite: Departmental approval.

ECO 299 Lower Division Special Topics
Offered: F, Sp, Su.

ECO 310 Agricultural Economics
Offered: DD. Analysis of the evolution and status of the agricultural sector of the economy. Domestic and export markets will be analyzed, as will impact of agricultural policy. Special emphasis will be directed to the Midwestern regional economy as influenced by the agricultural food chain.

ECO 360 Intermediate Macroeconomics
Offered: Sp. Intermediate-level theory course examines determinants of GDP, employment, and inflation; emphasizes economic model building (both classical and Keynesian) and the use of monetary and fiscal policies to control business cycles and inflation. Prerequisite: ECO260.

ECO 361 Intermediate Microeconomics
Offered: F, Su. Theoretical approach to the behavior of the individual buyer and seller in the marketplace; includes consumer demand theory, costs of production, and market structures ranging from pure competition to monopoly. Prerequisite: ECO261.

ECO 362 Public Finance
Offered: F. Studies principles of taxation and public expenditures, impact of fiscal policy on economic and social activity, and recent trends in public finance at the federal, state, and local levels. Prerequisites: ECO260 and ECO261.

ECO 363 Money And Banking
ECO 363 Money and Banking (3) F, Su. Continuation and expansion of money and banking concepts introduced in ECO 260; includes money, banks, and other financial intermediaries, the Federal Reserve System, concepts of monetary control, monetary policy, and international banking. Prerequisite: ECO 260.

ECO 364 Labor Economics
Offered: Sp, Su. Introductory course dealing with the institutional aspects of the American labor force, its organization, wage and employment theory, the economic role of bargaining, and the basic ingredients of public policy toward labor organizations. Prerequisite: ECO261.

ECO 365 Government Regulation Of Bus
Offered: DD. Analyzes the legislative and legal control of business and its implications for the various economic components of the American economy. Prerequisites: ECO260 and ECO261.

ECO 367 Urban And Regional Economics
Offered: DD. Examines economic growth in the United States with emphasis on the problems of economic growth in the Midwest; looks at factors instrumental in determining economic growth in various segments of the economy; considers urban problems associated with growth. Prerequisite: ECO261.

ECO 375 Economics Of Health Care
Offered: F. Examines the application of economic theory to the health care industry. Topics include the demand for health and health care, the market for health insurance, managed care, the market for health care practitioners, hospital services, and pharmaceuticals, and the role and operation of Medicaid and Medicare. Current proposals for reform of the health care system and of government health care policy will be carefully examined. Prerequisite: ECO261.

ECO 376 Economics Of The Environment
Offered: Sp. Application of economic principles and insights to environmental issues, and to the development of potential remedies. Areas of examination include valuing the environment and sustainable development, natural resource economics (incl. energy, water, and biodiversity), and environmental economics (incl. air, land, and water pollution, and poverty and development). Prerequisite: ECO260 or ECO261.

ECO 450 Independent Research/Project
Offered: F, Sp. Investigation of a research problem, project, or topic on an individual conference basis. Prerequisite: Declared Economics major, a minimum of 2.5 GPA in major field, and departmental approval.

ECO 460 Business And Econ Forecasting
Offered: F, Sp. Basic and intermediate forecasting of business and economic variables. Forecasting of business variables such as sales, production, and stock prices. Economic forecasts of GDP, unemployment, and consumer prices. Techniques include judgmental methods, trend calculation, smoothing techniques, time series methods, and regression analysis. Prerequisite: ECO260, GBA210 or MAT132.

ECO 461 International Trade
ECO 461 International Trade (3) Sp. Introduction to the theory of international economics, with an emphasis on economic models of trade and on economic arguments for and against the use of trade barriers. The course examines the changing nature of international economic institutions and increasing world economic interdependence. Prerequisites: ECO 260 and 261.

ECO 462 History Of Economic Thought
Offered: Sp. Development of various schools of economic thought: includes classical, neoclassical, institutional, Keynesian, and neo-Keynesian theories. Prerequisite: ECO260.

ECO 463 Comparative Economic Systems
ECO 463 Comparative Economic Systems (3) F. Introduction to the comparative study of national economic organization. Analysis of alternative patterns of reliance on national economic planning versus market activity. Examines experiences in different types of national economies such as the United States, the United Kingdom, Germany, Sweden, Japan, the republics of the former Soviet bloc, and China. Prerequisite: ECO 260.

ECO 464 Econometrics
Offered: DD. Introduces methods and statistical tools utilized by economists to perform basic and applied research. Regression analysis is the focus, with emphasis on both theoretical issues and problems encountered in application. Students will experience the research process firsthand, with ample opportunities to collect and analyze their own data. Prerequisites: Either ECO260 or ECO261 and either GBA210 or MAT132.

ECO 466 Economics In Action
Offered: DD. In-depth study of one of the following specialty areas in economics taught on a rotational basis each semester offered. Content will cover such topics as: Economics of Crime and Justice, International Finance, Mathematical Economics, Economics of Sport, or Economics and the Media. Course may be repeated for credit up to five times with different topics. Prerequisite: ECO260 or ECO261.

ECO 507 Managerial Economics
Offered: F (even-numbered years). The application of microeconomic principles and methodologies to managerial decision problems. Topics include consumer choice and demand for products, production and cost functions, alternative market structures and the profit criteria for long-run planning and investment decisions. Prerequisite: graduate standing and ECO 260 or 261 or equivalent.