Courses

Economics Courses:
Management Studies Courses:

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Introductory Courses

Courses numbered 110-120 all present a common core of economic principles, and therefore credit will be given for only one of these courses. Courses numbered 110-120 cannot be taken after taking Economics 121 or 122. Students may only take one course from among 110-120; none of these courses may be repeated.

110-120 Gateways to Economics

These classes introduce first-year students to principles of economics through special topics. Each course emphasizes the application of economic concepts to topics of general interest, capitalizing on the special interests and expertise of the faculty. A list of topics and course descriptions will be included with registration materials each semester. These courses are open only to first-year students.

111 Gateways to Economics: Transition Economies

At one time, roughly one-third of the world's population lived in countries with centrally planned socialist economies. The world has witnessed a series of astonishing transitions as these planned economies moved to introduce market reforms. This course introduces and applies the basic tools of economic analysis to understand and explore the transitions taking place in these countries. The course focuses principally on China and Russia but will include examples drawn from Eastern Europe and Cuba. Offered many Interims.

113 Gateways to Economics: Capitalism

This course uses major schools of economic thought and major economic writers from the past 600 years to introduce principles of economics. Readings include the architects of capitalism (Adam Smith, David Ricardo, etc.), the critics (Karl Marx, Thorstein Veblem, etc.), and the reformers (J.M. Keynes, Joseph Schumpeter, J.K. Galbraith, etc.). Offered many Interims.

115 Gateways to Economics: Globalization and Poverty

Vigorous debates about globalization and poverty have circulated in the media for the past decade, gaining international attention as protests interrupted the 1990 WTO Ministerial Conference in Seattle. This course introduces economic principles and uses them to evaluate thoughts on globalization, trade, growth, and poverty as articulated by economists like John Maynard Keynes, Friedrich von Hayek, Joseph Stiglitz, Jagdish Bhagwati, Jeffrey Sachs, and William Easterly, and as enacted by institutions like the WTO, IMF, and World Bank. Offered in Interim.

116 Gateways to Economics: Consumers in Families and Communities

Consumers, families, and community are intertwining elements of the social economy, each depending on the others for success. This course focuses on the triad, highlighting economic roles and principles. Among the topics of interest are the "rational consumer," saving and investing, momentous decisions, prodigal behavior, consumer protection, group dynamics, nurturing manipulation, collective purchases, budgeting, voting, and social welfare.

121 Principles of Economics

This course takes an analytical approach to economic reasoning and contemporary issues. The course introduces microeconomic and macroeconomic theories with applications to relevant topics, such as employment, growth, environmental protection, affirmative action, exchange rate fluctuations, taxes, and welfare reform. Students explore economics as an intelligent approach to understanding our daily lives as citizens, workers, managers and consumers. Offered each semester.

233 Economic Methods

This course develops the methodological framework which guides economic inquiry, while it reviews mathematical fundamentals and develops quantitative skills used in core courses of the major. Students learn to apply mathematical optimization to economic problems. See "Requirements of the Major" above for conditions under which this course may substitute for the required second mathematics course. Prerequisites: one of Economics 110-121 and Math 120, or its equivalent. Economics 233 does not count as a Level II economics analysis class toward the major. Offered annually.

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CORE COURSES

261 Intermediate Macroeconomic Theory

This course addresses the economic institutions and forces that determine levels of income, output, employment, and prices in our society. Questions related to employment prospects and standard of living provide an important focus. Classical and Keynesian perspectives are employed in attempting to understand these matters, the macroeconomics problems in market economies and the policies that economists prescribe as remedies for these problems. Prerequisites: Calculus I and one of Economics 110-122, or per-mission of instructor. Offered each semester.

262 Intermediate Microeconomic Theory

Microeconomics is the study of the resource allocation decisions by households, producers, and firms and the resources allocation process in various types of market structures. Students are trained in the use of economic models and optimizing techniques to address a variety of real-world problems, including case studies from business and public policy. Prerequisites: Calculus I and one of Economics 110-122, or permission of instructor. Offered each semester.

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ECONOMIC ANALYSIS COURSES, LEVEL II

222 Game Theory in Economics

Game theory is the formal study of the strategic interactions between individuals and between groups of individuals. Game theory has become a widely adopted tool of analysis in economics, business, law, politics, anthropology, sociology, and international relations. This course introduces students to the theoretical constructs of game theory and focuses on economic applications in the fields of labor economics, international trade, environmental economics, macroeconomics, and industrial organization. Prerequisite: Economics 121 or permission of instructor.

242 Environmental Economics

The powerful insights of microeconomic analysis inform this consideration of environmental policy and regulation. Coursework emphasizes economics' contributions to both setting environmental goals and realizing environmental objectives. By considering whether and how to assign monetary values to goods like species diversity and climactic stability, students gain practical experience applying and critiquing economic tools. Prerequisite: one of Economics 110-122 or permission of instructor. Offered most years.

243 Economic Development

Students in this course learn and apply economic analysis, tempered by an appreciation for the political and institutional contexts of the less developed countries, to gain an understanding of these countries' economies. Using cases involving both written and oral analysis, students explore topics such as economic growth in Brazil, trade strategies in Singapore, poverty and income distribution in Taiwan, or macroeconomic performance in Mexico. Prerequisite: one of Economics 110-122 or permission of instructor. Offered annually.

244 Business, Government and the Marketplace

Students in this course gain a critical understanding of the economic implications of several forms of government regulation by studying antitrust, traditional regulation and topics in environmental, consumer and workplace regulation. These different ways governments influence market outcomes are examined from both historical and economic perspectives. Prerequisite: one of Economics 110-122 or permission of instructor. Offered annually.

245 Economics of Health Care

The health care sector in the U.S. is undergoing rapid change which affects patients, providers, and payers. Managed care and managed competition are restructuring the delivery of health care services and reducing costs, while frustrating physicians and patients. The course examines the economic factors leading to the changes, current issues and controversies, and federal health policies. Students from nursing, premed, and the sciences are encouraged to enroll. Prerequisites: one of Economics 110-122 or permission of instructor. Offered most years.

247 History of Economic Thought

Many aspects of our lives and our society are influenced by the ideas (or the theories) of economists. This course explores where economic ideas have come from, how they have changed over time, and the extent to which they are compelling. While the ideas of many important figures are covered, economists such as Smith, Ricardo, Marx, Marshall, and Keynes receive particular attention. Prerequisite: one of Economics 110-122 or permission of instructor. Offered annually

249 Urban Economics

This class applies economic principles to issues of urban development. Topics include urban economic history, location analysis, policy analysis (especially concerning poverty, housing, transportation and education), land use controls, and macroeconomic forecasting. Prerequisites: one of Economics 110-122 or permission of instructor. Offered annually.

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ECONOMIC ANALYSIS COURSES, LEVEL III

371 Economics of Public Policy

Government action affects us all. We pay taxes; we use public roads, schools, and parks. Some prices we pay are lower due to government subsidies; others are higher due to taxes. Government actions influence both the efficiency of our economy and the equity and equality within our society. Students learn valuable analytical tools for evaluating public projects, tax policies, entitlement programs, and voting behavior. Prerequisite: Economics 262, Statistics 263 or Statistics 316, or permission of instructor. Offered annually.

374 Money and Banking

This course addresses the institutions that comprise modern monetary systems and the influence that these systems have on levels of income, output, employment, and prices in market economies. Monetary theory and monetary policy, including both the nature of our central bank and the role that it plays in our monetary system, are also addressed in some detail. Prerequisites: Economics 261 and Statistics 263 or Statistics 316, or permission of instructor. Offered annually.

376 Labor Economics and Employment Relations

What do workers want from work? What do employers want from workers? Pressing policy issues exist for workers competing in the global economy. Unions, unemployment insurance, welfare, and the minimum wage enhance the prospects of many, while leaving others even worse off. This course utilizes microeconomic theory, statistics, and institutional analysis to understand labor markets. Prerequisites: Economics 262 and Statistics 263 or Statistics 316, or permission of instructor. Offered annually.

382 International Economics

This course offers students an integrated approach of theory, policy, and enterprise to understand international trade and investment. The course focuses on the costs and benefits of global economic interdependence for students who plan to enter an international business career or to work for government and international organizations in activities affected by international economic relations. Prerequisite: Economics 261, 262, or permission of instructor. Offered annually.

385 Introduction to Econometrics

Ideal for students interested in applying statistical models to economic problems, this course emphasizes theoretical foundations, mathematical structure, and applications of major econometric techniques, including ordinary least squares, generalized least squares, instrumental variables, simultaneous equation models, limited dependent variables, and time series techniques. Students in the class complete a sophisticated economic research project of their choice. Prerequisites: Statistics 263 or equivalent preparation, and either Economics 261 or Economics 262, or permission of instructor. Offered annually.

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OTHER COURSES

218 Economic Progress in China

This international travel course tracks economic development in China with emphasis on Shanghai. The course examines the emergence and evolution of markets in rural, urban, commercial, and financial centers and how the changes affect culture, attitudes, customs, and life of the people. Shanghai is compared with other Chinese cities, including Nanjing, Suzhou, Hangzhou, and Hong Kong. The role of Hong Kong in China's reform and its integration since 1997 is also discussed. Offered many Interims.

220 Economic Justice

This course examines Christian ethics along with major frameworks in philosophical ethics (Utilitarianism, Liberalism, and Marxism) in addressing economic issues. Some introductory analysis will be presented and utilized. Does not count toward the economics major. Prerequisite: BST-T course. Offered many Interims.

253 Britain in Transition - Economic Leader to European Union (Abroad)

This international travel course examines economic change in Britain from the Industrial Revolution to the current European Union membership. The course focuses on the process of change and how economic factors interact with values and culture. Prerequisite: one of Economics 110-122, or consent of instructor. Offered many Interims.

298 Independent Study

394 Internship

396 Directed Undergraduate Research: "Topic Description"

This course provides a comprehensive research opportunity, including an introduction to relevant background material, technical instruction, identification of a meaningful project, and data collection. The topic is determined by the faculty member in charge of the course and may relate to his/her research interests. Prerequisite: Determined by individual instructor. Offer based on department decision.

398 Independent Research

399 Seminar

Selected topics to be announced. May be repeated if topics are different.

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RELATED COURSES
 

Interdisciplinary Studies 249 Mare Balticum (Abroad)

This course circles the Baltic Sea, covering forces of integration--social, economicc, linguistic, and historical--that create an identifiable region. Thematic structures include the Hanseatic League (1200-1650), the papal order of Teutonic Knights (1200-1701), the Latin Church and alphabet, the gothic brick architecture, integration into the European Union, environmental issues and others. Offered during Interim.

Statistics 263 Statistics for Economics

This course emphasizes skills necessary to understand and analyze data. Topics include descriptive statistics, probability and random variables, sampling theory, estimation and classical hypothesis testing, and practical and theoretical understanding of simple and multiple regression analysis. Applications to economics and business problems use real data, realistic applications, and Minitab for Windows. Written reports link statistical theory and practice with communication of results. Prerequisites: Mathematics 119, 120, 122 and one of Economics 110-122, or permission of instructor. Offered each semester.

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Management Studies Courses

 

225 Principles of Accounting

This course focuses on four basic financial statements: the income statement, statement of retained earnings, balance sheet, and statement of cash flows. Students learn how business events are recorded and represented on the financial statements and how to use the information to make sound economic judgments. Cases and current articles supplement traditional textbook readings and problems. This is a core course in the management studies concentration, offered each semester.

229 Arts Management

This course provides an overview of the key issues which face arts administrators. Topics addressed include strategic planning, budgeting, fund raising, audience development, and human resource management as each relates to the unique setting of the arts. Case analysis and guest speakers provide opportunities to explore application of key concepts. Offered annually.

230 Computer Applications

This course focuses on using Microsoft Excel to analyze common management problems and develop solutions. Microsoft PowerPoint, a presentation graphics software program, is also introduced. Offered during Interim.

231 Personal Finance

This practical course provides information needed for informed decision making in major areas of personal finance, including budgeting, basic tax planning, insurance, investments, major purchases and retirement planning. Offered during Interim.

237 Managerial Accounting

This course emphasizes the use of financial and operating information to make internal management decisions. Topics include cost measurement and allocation, budgeting and control, performance evaluation, relevant costs for decision-making and capital budgeting decisions. Students are introduced to the modern production environment. Excel spreadsheets are used for many homework assignments. Prerequisite: Management Studies 225. Offered annually.

242 Marketing Practice Across Cultures: Interim in Iringa, Tanzania

Learn about marketing systems on the eastern coast of Africa in Tanzania. Compare Tanzanian methods of pricing, promoting, and distributing products with methods used in the U.S. Explore the role of political and social forces in shaping a nation's market structures. Visit local markets, area businesses, historical sites, and wildlife preserves. Experience life on an African university campus, living and studying with students from throughout central Africa. Offered during Interim in odd-numbered years.

250 Marketing

This course introduces the key elements of marketing strategy: product development and management, pricing, promotion, and distribution. Case analysis and simulation exercises provide opportunities for applying concepts addressed in class. Upon completion of the course, students should be able to write a marketing plan for a profit-oriented or not-for-profit enterprise. Prerequisite: one of Economics 110-122 or permission of instructor. Offered each semester.

251 Management

This course familiarizes the student with the major management functions of planning, organizing, leading, and controlling. The study of management theory is linked with application exercises. Students begin to develop the management skills necessary in any organization, whether it be a for-profit or not-for-profit venture, a small business, or a large corporation. This course is required for all students pursuing a management studies concentration. Prerequisite: one of Economics 110-122 or permission of instructor. Offered each semester.

252 Legal Aspects of Business

This course investigates the legal framework in which business enterprise is conducted, including personal rights and duties, contracts, sales, agency, negotiable personal rights and duties, negotiable instruments, bailments, personal property and corporate obligations, and equities. Prerequisite: Economics 121 or 122 or consent of instructor.

256 Entrepreneurship

This course examines the importance of entrepreneurship, covering both the theory and practical aspects of the subject. Discussions focus on the paradigms of creativity and innovation, the relationship of liberal arts disciplines to the entrepreneur, the role of the entrepreneur in society and history, the risks and rewards of entrepreneurship, and the elements of the entrepreneurial behavior in a variety of settings. Study concentrates on the entrepreneurial process from idea creation to ultimate business or other organizational activity. A leadership theme permeates these discussions. A variety of instructional techniques are used including group projects, guest presenters, and practicing entrepreneurs attending the class. Offered annually.

257 Entrepreneurship and New Venture Formulation

This course teaches students how to develop a business or not-for-profit venture concept into a business plan. Students choose whether to develop a real business plan for a local entrepreneur or pursue an idea of their choice. Students work in teams to identify a market need, design a strategy, and determine feasibility of the proposed venture. Weekly assignments develop the necessary speaking skills that prepare students for the final plan presentation. Local entrepreneurs and fellow students critique the final plan and offer suggestions. Offering during Interim.

259 Intermediate Accounting Theory

This course investigates accounting principles used to value assets, liabilities, revenue, and expenses. Case studies illustrate the effect of alternative accounting methods on financial statements and highlight the need for financial reporting standards. Prerequisite: Management Studies 225. Offered Fall Semester.

281 Corporate Finance

This course is an introduction to financial decision-making in a business environment. Topics include asset acquisition, issuance of stock vs. debt, dividend policy, planning and analysis, and working capital policy. Case discussions, combined with lectures and readings, enable students to apply finance principles in actual business situations. Computer spreadsheets are used. Prerequisite: Management Studies 225. Offered annually.

294 Internship

298 Independent Study

380 Investments

This introduction to making personal investment decisions provides a foundation for students seeking a career in the investment field. Although stocks are the primary focus, bonds, options, futures, and mutual funds are also introduced. Topics include risk and return, security analysis, valuation theory, stock investment systems, and portfolio management. Students analyze historical data using a computer database and spreadsheet. Prerequisites: Management Studies 281 and Statistics 263, or permission of instructor. Offered annually.

383 Management Policy and Strategy

This is a capstone course for students with a management studies concentration or management area of emphasis. Students have the opportunity to further develop their planning and decision making skills through focused study of the management literature and case analysis exercises. Emphasis is given to identifying, analyzing, and solving organizational problems which are strategic in nature and cut across all functional areas of the organization. Prerequisite: Management Studies 250 or 251, senior status or permission of instructor. Offered annually.

394 Internship

398 Independent Study

399 Seminar

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