2006-2008 Undergraduate Catalog (2007 Supplement)
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Economics Course Descriptions

ECO 2301 (ECON 2301) Principles of Macroeconomics (3 semester hours) An introduction to theories of the determination of national production and income, interest rates, inflation, and unemployment. Other topics include the banking system, the balance of payments, economic growth and development. (3-0) S
ECO 2302 (ECON 2302) Principles of Microeconomics (3 semester hours) An introduction to theories of the behavior of markets. Topics include the theory of demand and supply, market structure, resource markets, international interdependence in commodity markets, the role of government policy and regulation. (3-0) S
ECO 3304 Basic Techniques for Economic Research (3 semester hours) An introduction to the primary methods used in economic research. Topics include information technology, computer software, mathematics and statistics for economists. This course is designed to provide a foundation for all other upper level economics and finance courses. Prerequisites: College level algebra and college level statistics (MATH 1314 and STAT 1342 or MATH 1314 and SOCS 3305). This course does not apply toward the Bachelor of Science in Economics. (3-0) Y
ECO 3310 Intermediate Microeconomic Theory (3 semester hours) The study of theories of demand, production, competition, markets, and welfare. Implications of theory for purposes of public policy prescriptions are given particular emphasis. Prerequisites: ECO 2302 and either ECO 3304, MATH 2417, or MATH 1325, or permission of instructor. (3-0) S
ECO 3311 Intermediate Macroeconomic Theory (3 semester hours) A study of the determinants of national income, employment, interest rates, and the price level, including theories and evidence regarding the influence of monetary and fiscal policies on the economy. Prerequisites: ECO 2302 and ECO 2301 and either ECO 3304, MATH 2417 or MATH 1325, or permission of instructor. (3-0) S
ECO 3312 Money and Banking (3 semester hours) The development, structure, and regulation of financial institutions and the roles of these institutions in determining the money supply and level of economic activity. (3-0) T
ECO 3315 Economics of Sports (3 semester hours) Applies principles of economic analysis to look at the nature and characteristics of professional and amateur sports industries. Examines franchising and profit-maximization, monopoly and anti-trust, public financing of sports facilities, labor markets for players, team competitive balance, discrimination and other themes. Prerequisite: ECO 2302. (3-0) T
ECO 3330 Economics of Health (3 semester hours) A study of personal and public expenditures on health care, the markets for medical personnel, the medical industry, the health insurance market, and present and proposed health care policies. Prerequisite: ECO 3310. (3-0) R
ECO 3331 Urban Growth and Structure (3 semester hours) Deals with the economic and spatial processes underlying urban growth and regional development, and with the structural and demographic characteristics of urban areas as well as the social and psychological dynamics of urban life. This course is also recommended for students who are not Economics majors. (Same as GEOG 3331) (3-0) T
ECO 3333 Real Estate Economics and Finance (3 semester hours) Economic, legal and institutional factors involved in real estate markets. Environmental and economic trade offs necessary for effective management are considered in the context of selected models of land use. Special attention is given to issues of urban development. This course is also recommended for students who are not economics majors. (3-0) R
ECO 3335 Psychology and Economics (3 semester hours) A study of the ways economists use basic principles from psychology in order to test and augment economic theory. Prerequisite: ECO 2302. (3-0) R
ECO 3369 Political Economy of Terrorism (3 semester hours) Economic and statistical methods applied to terrorism. Topics include liberal democracy dilemma, counterterrorism, history of terrorism, international cooperation, and game theory applications. Prerequisite: ECO 2303. (3-0) R
ECO 3370 The Global Economy (3 semester hours) Considers the changing relationships of population, resources, and the economy, the transformation of classical spatial economies, and the processes producing increasing globalization. Particular attention is paid to technological change and to the dynamics of world trade and investment. This course is also recommended for students who are not economics majors. (3-0) T
ECO 3372 Population and Development (3 semester hours) Examines the relations between population, development, and the environment. Essential compnents of demographic analysis lay the foundation for a critical evaluation of demographic transition theory. Other topics include pulic health, population structure and life chances, cultural differences and women's status, aging, environmental impacts, and population policy. (Same as GEOG 3371 and SOC 3371) (3-0) T
ECO 3373 Transportation and Logistics (3 semester hours) Focuses on concepts and methods for decision making in transportation based on both geographic and economic factors. Considers the relationships between location and cost in the context of the classic transportation problem and other location models in transportation. Examines project cost/benefit evaluation, urban travel demand modeling, transportation pricing, and issues of accessibility and economic opportunity. Prerequisite: ECO 2302 or equivalent. (Same as GEOG 3373) (3-0) Y
ECO 3375 Transportation and Cities (3 semester hours) Explores the relationship between urban areas and transportation systems. Examines economics of transportation in cities, transportation and urban form, highway congestion, environmental impacts of transportation, public transit, transportation and labor markets, and political influences on transportation planning. (Same as GEOG 3375) (3-0) Y
ECO 3381 Economic History (3 semester hours) A review of the history of Western civilization, with particular emphasis on the economic influences of money, resources, production, and trade on political and social events. This course is also recommended for students who are not economics majors. (3-0) R
ECO 3385 Benefit Cost Analysis (3 semester hours) Application of the principles of welfare economics to analysis of the efficiency and distributional impacts of government action. Theoretical foundations and related techniques for measuring and assessing the impacts of different policies and programs. Prerequisite: ECO 3310. (3-0) T
ECO 4301 Game Theory (3 semester hours) Rational decision-making in strategic situations where the optimal decision for one player depends upon the strategies of others. The emphasis is on non-zero sum, noncooperative games in various frameworks: single-period, repeated, and dynamic games with either symmetric or asymmetric information available to the players are considered. Equilibrium concepts include Nash equilibrium in pure strategies and mixed strategies, Bayesian Nash equilibrium, and refinements of Nash equilibrium such as Subgame Perfect equilibrium are considered. Games are illustrated through the use of economic examples, such as pricing and output decisions of firms, common property usage, bargaining, international trade games, and games of market entry. Prerequisite: ECO 3310. (3-0) Y
ECO 4310 Managerial Economics (3 semester hours) The development of tools based on economic principles for managerial decisions about pricing, costing, production organization and capital budgeting. Prerequisites: ECO 3304 and ECO 3310. (3-0) T
ECO 4320 Public Sector Economics (3 semester hours) A study of the economics of the public sector, including taxation, public expenditures, and fiscal policy. Examines the theoretical foundation for government intervention in the economy, and the incentive effects of government policies on work, investment, and the spending of income. Prerequisite: ECO 3310. (Same as PA 4313) (3-0) R
ECO 4330 Law and Economics (3 semester hours) Contracts, torts, and property rights, integrating economic theory concerning efficiency and equity with actual legal cases. Topics include medical malpractice, habitability laws, zoning, crime deterrence, environmental laws, and discrimination. This course is also recommended for students who are not economics majors. (3-0) T
ECO 4332 Energy and Natural Resources Economics (3 semester hours) This course is a study in the application of economics to renewable and nonrenewable natural resources problems and to the role of the energy sector in the world economy. Prerequisite: ECO 2302. (3-0) R
ECO 4333 Environmental Economics (3 semester hours) A study of people and their environment, emphasizing the social and economic consequences of development and pollution. Alternative public policies for dealing with environmental impacts are explored. Prerequisite: ECO 2302. (3-0) T
ECO 4334 Experimental Economics (3 semester hours) This is a course in the use of laboratory methods to study behavior in economics and the social sciences. Students will study state-of-the-art methodology in experimental economics, including experimental design, laboratory technique, financial incentives, and analysis of data. Students will participate in, design, and conduct experiments in bargaining, auctions, asset markets, public goods and commons situations, and risky decision-making. Prerequisite: ECO 3310. (3-0) Y
ECO 4340 Labor Economics and Human Resources (3 semester hours) Analyses of wage and employment determination, the role of unions and government in labor market outcomes; discussion of such issues as human capital, discrimination, occupational safety and health, and labor market segmentation. Prerequisite: ECO 3310. (3-0) T
ECO 4342 Public Policies Toward Business (3 semester hours) Analysis of the economic rationale for government intervention in markets. The course considers direct intervention in the form of price, entry, and/or product quality directives, the economic welfare foundations of public utility economics, and the theory of regulation and deregulation, including indirect regulation through antitrust laws. Topics include collusion, price discrimination, vertical restraints, and other attempts to monopolize a market. Prerequisite: ECO 3310. (3-0) T
ECO 4345 Industrial Organization (3 semester hours) Market structure, firm conduct, and social performance of industries with emphasis on firms’ strategic behavior in price and nonprice competition. Topics include oligopoly pricing, strategic entry deterrence, location strategies, product differentiation, advertising, research and development, and the effect of firms’ conduct on economic welfare and market structure. Prerequisite: ECO 3310. (3-0) T
ECO 4346 Technology, Economy, and Society (3 semester hours) This course explores the ways technology and society shape one another in an economic context. Drawing on theoretical and research contributions from several social sciences, the course devotes primary attention to the economic impacts of so-called information and communication technologies (ICT) on employment and earnings, job creation and destruction, new firm formation and failure, as well as profit and productivity. (3-0) R
ECO 4348 Business and Technology (3 semester hours) This course explores the role of technological innovation in macroeconomic performance and firm-level business activity. It highlights theoretical and research contributions from across the several social sciences, engineering, and management. Topics included all reflect on how technical advances emerge from – and have their impacts shaped within – markets and broader societal organization. The roles of domestic political institutions and public policy, as well as geo-political contexts, will be used to illustrate the broader implications of the technology-business relationship. (Same as SOC 4348) (3-0) Y
ECO 4351 Mathematical Economics (3 semester hours) Mathematical formulation of economic theories such as static and dynamic analysis of market behavior and macroeconomic models. Introduction to optimization techniques and linear algebra. Prerequisite: ECO 3304, MATH 2333 or MATH 2418. (3-0) Y
ECO 4355 Econometrics (3 semester hours) The application of statistical methods to economic analysis; particular attention is given to regression analysis and hypothesis testing. Prerequisite: ECO 3304, MATH 2333, or MATH 2418. (3-0) Y
ECO 4360 International Trade (3 semester hours) Studies international relationships among national economies with a principal focus on trade relationships. Examines theories of trade, rationale for protectionism, and the foundation of exchange markets. Prerequisite: ECO 3310. (3-0) Y
ECO 4362 Development Economics (3 semester hours) A study of development and economic growth, with a principal focus on less developed countries. Includes theories and patterns of development, the role of human resources, capital resources, agriculture, and international markets. Prerequisites: ECO 2302 and ECO 3311. (3-0) Y
ECO 4381 History of Economic Ideas (3 semester hours) An investigation into the writings and ideas of economists past and present. Beginning with the ancient Greeks and ending with contemporary radical economic thought, the course places current economic issues into historical perspective. Works by Smith, Malthus, Mill, Marx, Veblen, Schumpeter, Galbraith, and others are covered. This course is also recommended for students who are not economics majors. (3-0) R
ECO 4382 International Finance (3 semester hours) Studies the international financial system, including the foreign exchange markets and the balance of payment accounts and a discussion of international monetary theory. This course fulfills the University’s writing requirement. Prerequisite: ECO 3311. (3-0) T
ECO 4384 Corporate Finance (3 semester hours) The theory and techniques of finance in business, including budgeting, cost of capital, and capital markets. Prerequisite: ECO 3304. (3-0) Y
ECO 4385 Business and Economic Forecasting (3 semester hours) Techniques, statistical and otherwise, for forecasting events relevant to business and economic activities. Prerequisite: ECO 3304. (3-0) T
ECO 4396 Selected Topics in Economics (3 semester hours) Subject matter will vary from semester to semester. May be repeated for credit (9 hours maximum). (3-0) R
ECO 4V97 Independent Study in Economics (1-6 semester hours) Independent study under a faculty member’s direction. May be repeated for credit (6 hours maximum). Consent of instructor required. ([1-6] 0) S
ECO 4V98 Internship (1-6 semester hours) May repeat for credit up to a total of six semester credit hours. Consent of instructor required. ([1-6] 0) S
ECO 4V99 Senior Honors in Economics (1-6 semester hours) For students conducting independent research for honors theses or projects. May be repeated for credit, but no more than 6 hours may be taken by a student under this number. ([1-6] 0) S

Interdisciplinary Studies Courses Applicable to the Major in Economics

ISSS 3347 The World’s Advanced Economies
ISSS 3349 World Resources and Development


General Information
Economics and Finance Double Major
Political Science
Public Affairs




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