Economics Concentration

Description

The importance of having a broad background in economics is increasingly recognized by firms that confront problems requiring a knowledge of the domestic and international economic systems. Economists occupy a wide range of positions in profit and non-profit enterprises as well as in government. As well as being highly recommended for pre-law students, the economics concentration is offered for students who aim for careers in banking, finance, government, or industry.

Students may also pursue a major or minor in this field within the College of Arts and Sciences; the requirements for this B.A. degree can be found under that College. Students expecting to pursue graduate study in economics are encouraged to take ECON 302 and calculus through MAT 259.

Concentration Requirements

The economics concentration requires completion of 12 credits in the following areas:

Course Descriptions

ECON 101 Microeconomics

Economics of the firm and the consumer. Principles underlying supply and demand; analysis of competition, monopoly, and other market structures; labor and other resource markets. Prerequisite: none. Fall and Spring.

ECON 102 Macroeconomics

The structure and functioning of the national economy. Particular attention is given to determinants of national income, employment and the price level, fiscal and monetary policies, international trade, exchange rates, and trade restrictions. Prerequisite: ECON 101. Fall and Spring.

ECON 103 Economic Analysis

An economics foundation course for undergraduate engineering majors who are applying for admission to the MBA program. Key micro and macroeconomic models which are critical to the development of modern economics are explored. Analysis includes theories of supply and demand, theory of the firm, pricing, employment, monetary and fiscal policy, and international trade and finance. Fall.

ECON 203 Business, Government and Society

This course explores the relationship between business and the changing social and political environment. Topics include "market failures" and the need for government regulation, business ethics, and corporate social performance. Specific issues such as consumer protection, occupational safety, environmental problems, the media, corporate political involvement, and corporate governance will be examined. Prerequisites: BUSN 101 and ECON 101. Fall and Spring.

ECON 207H Honors Economics

The fundamental concepts and approaches used in economics for analyzing problems involving the use of scarce productive resources to satisfy wants. The roles and limitations of both markets and government-directed forms of resource allocation are studied. The methodology of economics is compared to that of other social sciences. May be substituted for ECON 101 (Microeconomics). Prerequisite: Honors Program. Spring.

ECON 302 Forecasting the Economy

Methods of forecasting economic variables are explored. Special emphasis is placed on the study of the macroeconomy. Topics include business cycles, the determination of national output and the price level, and the effects of monetary and fiscal policies. Prerequisite: ECON 102 and statistics: (BUSN 230 or MATH 321 or MATH 121/PSYC 202). Spring.

ECON 304 Economics of Environmental Protection

Explores the economic dimensions of environmental topics such as air and water pollution, deforestation, non-renewable resource depletion, recycling, global warming. The course studies the extent of environmental problems and alternative solutions. Prerequisite: ECON 101. Fall.

ECON 305 Taxation and Government Programs

Develops economic tools used to analyze government expenditures and taxation. Discussion of public policy issues such as welfare reform, health care, Social Security, tax reform, and fiscal problems of state and local governments. Prerequisite: ECON 101. On sufficient demand.

ECON 306 Comparative Economic Systems

Economic analysis of various systems of economic organization, including Capitalism, Socialism, and Communism. Historical development of the theoretical basis and description of the institutional organization of each system. Prerequisite: ECON 101 or 102. At Gonzaga-in-Florence only.

ECON 307 (SOCI 478) Social and Economic Development in Italy

The impact of social theories on economic problems in Italy; the Mezzogiorno treated from the economic, sociological, political, and religious points of view. Prerequisite: third year standing. At Gonzaga-in-Florence only.

ECON 309 Money and Banking

Principles of money, credit, and banking. Nature of the Federal Reserve and the banking system and their roles in stabilizing the levels of employment and prices. The international financial and payments system. Prerequisite: ECON 102. Fall.

ECON 310 Antitrust Policy and Regulation

Examines the rationale for and effects of various government policies toward business. Analyzes the economic consequences of market power. Emphasis is placed on antitrust policy as a response to market power. Prerequisite: ECON 101. Fall.

ECON 311 The Global Economy

A course studying the general economic environment within which governments and international businesses interact. Discusses exchange rates and trade balances, the economic reasons for trade, gains and losses to various groups resulting from trade, and government policies affecting the global economy. Prerequisite: ECON 101. Spring.

ECON 312 Work, Wages and Inequality

An economic perspective on labor market issues. Explores recent controversial topics such as inequality in earnings, race and sex discrimination in labor markets, immigration, minimum wage laws and labor unions, health and safety regulation in the work place. Prerequisite: ECON 101. Fall of alternate years.

ECON 401 Adam Smith and Karl Marx

A course focused on reading and discussing the works of two opposite but highly influential economic thinkers, Smith and Marx. Supplemented with material on other important economic thinkers from 1500 to 1870. Prerequisite: ECON 102. Spring of alternate years.

ECON 402 Currents of Modern Economics

Emphasis on the works of Thorstein Veblen and Joseph Schumpeter, two important commentators on the capitalist system. Also explores related schools of economic thought, including the neoclassical, Austrian, Keynesian and Chicago approaches. Prerequisite: ECON 102. Spring of alternate years.

ECON 404 Economic Integration of the European Community

A survey of the origins and development of the European Community; its relation to GATT (General Agreement on Trade and Tariffs); monetary coordination; monopoly, competition, and the multi-national firms; taxation and long-run policy on quotas and balances of payments. Prerequisite: third year standing. At Gonzaga-in-Florence only.

ECON 489 Special Topic Seminar

Topics and credit by arrangement. Prerequisite: permission.

ECON 491 Directed Study

An individually designed course appropriate to the student's major. Prerequisite: third or fourth year standing and Dean's permission. Summer.

ECON 497 Internship

Work experience directly related to the student's major area of study. Guidelines are available from the Internship Director. Pass/Fail only. Prerequisite: third or fourth year standing; minimum cumulative g.p.a. of 3.00. Fall, Spring, Summer.