Economics
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ECONOMICS (EC)

221. Principles of Microeconomics (3). Prerequisite: MS 100 or higher level math course. Microeconomic analysis, including the consumer, the firm, the market and price determination.


222. Principles of Macroeconomics (3). Prerequisite: MS 100 or higher level math course. A macroeconomic approach, including money and banking, national income accounting monetary and fiscal policy, and international economics.


Business Statistics 261.-Statistics/Quantitative Methods II (3). May be counted as a course in Department of Economics for students pursuing the BA in Economics. For description, see Statistics 261.


Courses listed below require, in addition to stated prerequisites, ACC 200, 210, EC 221, 222, MS 112 and ST 260, 261 for students pursuing the B.S. degree in a business field.


303. Money and Banking (3). Prerequisites: EC 221, 222. Topics in monetary policy, theory, monetary standards, the commercial banking system, and the federal reserve system are considered in detail.


305. Comparative Economic Systems (3). Prerequisites: EC 221, 222. Examines the theoretical and practical differences between a centralized economy and decentralized economy. Emphasis on the ideological and political aspects of these different systems.


310. Public Finance (3). Prerequisites: EC 221, 222. An economic analysis of the role of government. Topics to be examined include externalities and public goods, tax policies, government expenditures and social decision-making.


316. Managerial Economics (3). Prerequisites: EC 221, 222. Application of the principles of economics to business management situations. Emphasis in reconciling simple but meaningful models with the complex situations encountered in business.


321. Intermediate Microeconomic Theory (3). Prerequisites: EC 221, 222. The theory of the pricing system under varying market conditions and the distribution of income among the factors of production.


322. Intermediate Macroeconomic Theory (3). Prerequisites: EC 221, 222. The measurement of national output, including income and employment theory, general equilibrium theory, and the theories of interest, investment, and consumption.


345. Industrial Organization and Economic Regulation (3). Prerequisites: EC 221, 222. Investigates the nature of firms and industry structures. Topics include competition, monopoly, firm behavior, transaction costs theory, and the effects of anti-trust and regulatory policy.


420. History of Economic Thought (3). Examination of the main theoretical developments since the beginning of the systematic study of economics in the 18th century. Special emphasis is given to the following major schools of economic thought: Mercantilists, Physiocrats, Classicists, Socialists, Marginalists, Neo-Classicists, Keynesians, and Post-Keynesians.


446. Environmental and Natural Resources Economics (3). Prerequisites: EC 221, 222. Use of economic analysis to examine global environmental problems and the depletion of natural resources. An examination of issues related to market failure including benefit-cost analysis, externalities, property rights, and energy policy.


450. International Economics (3). Prerequisites: EC 221, 222. Economic analysis of international relations. Emphasis will be placed on theories of exchange and international monetary economics with only secondary interest placed on institutional arrangements.


463. Senior Seminar in Economics (3). Prerequisite: Capstone course, should be taken in Senior year. Exceptions approved by Department Head. Considers the methodology of economics and provides a comprehensive review of economic theory.


465. Health Care Economics (3). Prerequisites: EC 221, 222. An economic exploration of the health care industry including demand-cost analysis, methodology development, financing health care services, and efficient resource allocation.


471. Urban Economics (3). Prerequisites: EC 221, 222. An analysis of economic forces affecting urbanization and the economic processes influencing urban form and structure. Spatial and location concepts are included. Topic coverage includes the economic origin of cities, urban functions, urban economic base, land use structure, urban form and urban efficiency.


475. Economics of E-Commerce (3). Use of economic analysis to provide insight and understanding necessary to succeed in today's information technology age. Emphasis is placed on practical business strategies to develop price, and protect and market goods in an emerging network economy.


480. Applied Business Forecasting (3). Prerequisites: EC 221, 222, and ST 261. An introduction to quantitative business forecasting methods. Students will learn how to apply forecasting techniques to examine contemporary business and economic situations.


485. Field Experience (3). Field trip to New York City to study important New York business and economic sites, such as the New York Stock Exchange, the Federal Reserve, the Fulton Fish Market, a large international bank, an advertising agency, a bond advisory company, and other tours relevant to economics. Summer only.


486. Econometrics (3). Prerequisites: EC 221, 222; and ST 261. The application of mathematics and statistics to economics. Techniques by which economic theory can be applied in order to estimate quantitatively functional relationships.


489. Economics Internship (3). Prerequisite: Senior status and approval by the Economics Department Head. Provides the economics major with practical experience in the field via an internship arrangement (Pass/Fail grade only).


499. Special Topics and Research (3). Prerequisites: EC 221, 222. Techniques of research and writing are emphasized. Students select an economic topic of interest and write a thesis-type term paper.


In addition to the above-listed Economics courses, up to six credits of elective requirements for the Economics major may also be selected from Finance courses numbered 300 or above (For descriptions of these courses, see FINANCE COURSE DESCRIPTIONS) and/or the following courses listed below. Check with your advisor to determine which courses are best for you. All course prerequisites must be met.

  • CBA 300 - American Business Enterprise (3). Prerequisites: EC 221, 222. (For course description see CBA 300).
  • Information Management/E-commerce 380 - Project Management (3). Prerequisite: IME 375. For course description, see IME 380.
  • Information Management/E-commerce 420 - Virtual Enterprises (3). Prerequisite: IME 375. For course description, see IME 420.
  • Management 330 - Entrepreneurship (3). Prerequisite: MGT 301. For course description, see MGT 330.

BUSINESS STATISTICS (ST)

260. Statistics/Quantitative Methods I (4). Prerequisite: MS 112. Corequisite: ST 260 LAB required. Lecture: Quantitative methods and statistics as applied to business and economics including decision/optimization methods, descriptive statistics, probability & statistical inference. Lab: An introduction to Microsoft EXCEL, Microsoft WORD, and the MINITAB statistical software package. Course will focus on computer assignments to complement work covered in the ST 260 course. Students must register for both lecture and lab in same semester.


261. Statistics/Quantitative Methods II (3). Prerequisites: MS 112, ST 260. Sampling and statistical inference; hypothesis testing; regression and correlation analysis; and analysis of variance.

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