Chair: John Wingender
Department Office: Harper Center

The Department of Economics, supervised by the Department of Economics and Finance in the Heider College of Business, provides a program of study for students in the College of Arts and Sciences who wish to obtain the degree of Bachelor of Arts with economics as the field of concentration. This program is designed to acquaint the student with the tools and techniques of economic analysis and the contribution of economic analysis to decision-making in the business firm and to society. The program is designed to prepare those interested in careers as economists or economic analysts in business, government, and non-government organizations and for graduate study in economics. Alternatively, students can receive the degree of Bachelor of Science in Business Administration with Economics as the field of concentration. Please refer to the department’s listing under the Heider College of Business for further information about this degree.

BA, Major in Economics requirements: 34 credits

Course requirements
BUS 229Statistical Analysis4
ECO 203Introductory Microeconomics3
ECO 205Introductory Macroeconomics3
ECO 303Intermediate Microeconomics3
ECO 305Intermediate Macroeconomics3
ECO 508Development Of Political Economy3
Select 15 credits of upper division courses in Economics.15
Total Credits34

ECO 203 Introductory Microeconomics and ECO 205 Introductory Macroeconomics should be taken before the junior year. ECO 303 Intermediate Microeconomics and ECO 305 Intermediate Macroeconomics should be taken in the junior year.

Minor in Economics

The Economics minor offers the student the opportunity to achieve a basic understanding of the economical fundamentals at work in actions by individuals, firms, and governments. Students will examine resource allocation, income distribution, production, employment, and prices in a market economy.

ECO 203Introductory Microeconomics3
ECO 205Introductory Macroeconomics3
ECO 303Intermediate Microeconomics3
ECO 305Intermediate Macroeconomics3
Select 6 credits of 300-level and above ECO courses. 6

Courses

ECO 203. Introductory Microeconomics. 3 credits. FA, SP, SU

Nature of economics and the economic problem. Principles and problems of resource allocation and income distribution in a market economy with special reference to the American economic system; basic microeconomics of the household, firm and product and factor markets.

ECO 205. Introductory Macroeconomics. 3 credits. FA, SP, SU

Microeconomics versus macroeconomics; major macroeconomic problems in an open economy. Measurement, analysis, and control of the overall levels of income, production, employment, and prices with a focus on the modern U.S. economy; monetary, fiscal and related policies for economic growth and stability. P: ECO 203.

ECO 303. Intermediate Microeconomics. 3 credits. FA

Further analysis of resource allocation and income distribution. The individual household and market demand; market supply and production/cost relationships. Price and output decisions of firms in different types of market structures; factor market relationships. General equilibrium analysis and welfare economics. P: ECO 205; MTH 141 or MTH 245 or MTH 231.

ECO 305. Intermediate Macroeconomics. 3 credits. SP

Further analysis of the measurement, determination, and control of national income and product and the aggregate levels of employment and prices; problems of, and policies for, economic growth and stability. P: ECO 205.

ECO 315. Money And The Financial System. 3 credits. FA

Analysis of the functions of money; U.S. monetary and banking system and the role of financial markets; monetary policy, price level, interest rates, national income, international finance, and integration with fiscal policy. P: ECO 205; Jr. stdg.

ECO 318. Economics of Public Finance. 3 credits. OD

Theoretical and applied aspects of public budgetary management. Public budgets and their relation to the overall level of economic activity, resource allocation, and income distribution. P: ECO 205; Jr. stdg.

ECO 353. Environmental Economics. 3 credits. OD (Same as EVS 353)

The application of economic analysis to environmental issues. Emphasis on global environmental problems and policies and environmental problems and policies that are common to all nations. P: Jr. stdg.

ECO 366. Economics Internship. 3 credits. FA, SP, SU

This course is designed to provide students with practical economics experience by applying economics concepts and technical skills learned in the classroom. It requires 150 hours with an employer, designated class meetings, written assignments, and oral presentations. Credit for this class is dependent upon a) an interview with the sponsoring employer, b) relevance of the internship to the students' economics course work, and c) approval by the coordinator of Economics internships in the Department of Economics and Finance. The course is graded satisfactory/unsatisfactory and only 3 hours of internship credit may be used to satisfy graduation requirements. P: Second semester Jr. or higher standing.

ECO 408. Current Issues In Social Economics And Political Economy. 3 credits. OD

Selective examination of current socioeconomic problems confronting both developed and developing countries and the world at large in light of the major politico-economic philosophies of the day. P: ECO 205 or ECO 301; Jr. stdg.

ECO 413. Market Power And Antitrust Policy. 3 credits. OD

Study of the economic and legal forces affecting the evolution and performance of large firms in concentrated markets in the United States. Focus on the structure, conduct, and performance of concentrated industries and the role of the antitrust laws in regulating behavior in these industries. P: ECO 205; Jr. stdg.

ECO 418. Econometrics. 3 credits. OD

Application of economics, mathematics, and statistics to the quantification of economic relationships. Intensive use of computer. P: Jr. stdg.; ECO 205; BUS 229 or equivalent.

ECO 423. Transportation Economics And Policy. 3 credits. OD

Relationship of transportation to the national economy and to the business sector. Focus on principles of transportation economics, government regulation, passenger and freight transport, and such urban policy issues as energy and environment. P: ECO 205; Jr. stdg.

ECO 433. Regional Economic Analysis. 3 credits. OD

Examination of regional economic problems and solutions as they relate to public policy initiatives. Course consists of theory development and empirical testing with statistical models. Emphasis on the use of the most recent advancements in computer hardware and software. P: ECO 205; BUS 229 or equiv.

ECO 443. Labor Economics. 3 credits. OD

The study of labor market theory and policy. The relevant theoretical analysis of labor demand and supply. Analysis of current labor market policies and institutions including discrimination, unemployment, immigration, minimum wages, and unions. P: ECO 205; Jr. stdg.

ECO 479. Seminar in Economics. 3 credits. FA, SP

Exploration and analysis of selected problems, topics, and issues in today's economic environment. Course content changes from semester to semester. This course is repeatable as long as topic differs (12 credits). P: Jr. stdg.

ECO 493. Directed Independent Readings. 1-3 credits. FA, SP

Directed readings course investigating theory and problems in the field of economics. Limited to students who want to develop a more in-depth knowledge of a subject beyond the regular course coverage and who have a QPA of 3.0 or better. May be repeated for credit to a limit of six hours. P: Sr. stdg.; DC and Dean's approval.

ECO 497. Directed Independent Research. 1-3 credits. OD

Supervised independent research on topics in theoretical/applied economics. Limited to students who want to develop a more in-depth knowledge of a subject beyond the regular course coverage and who have a QPA of 3.0 or better. May be repeated for credit to a limit of six hours. P: Sr. stdg.; DC and Dean's approval.

ECO 508. Development Of Political Economy. 3 credits. SP

This course deals with the development of economics from its earlier scholars such as the Greek political economists, Mercantilists, Physiocrats, Classical economists, and the Marginalists including recent contributions of the Keynesians, Institutionalists, and the Monetarists. The course critically examines chronologically, the impact of changing social, political and economic conditions on evolution of economic thoughts. P: Jr. stdg.,ECO 205 or equivalent for Graduate students.

ECO 513. Health Economics. 3 credits. OD

Economic concepts and their application to the health services industry. Addresses demand, supply, distribution, utilization of resources, market theory and analytic techniques including cost-benefit and cost-effectiveness analysis. P: Jr. stdg; ECO 205 or equivalent for Graduate Students.

ECO 518. Comparative Economic Systems. 3 credits. OD

Analysis of modern variants of capitalism and socialism in light of the basic problems and principles applicable to all social economies. Fulfills the College of Business Administration requirement for an international course. P: ECO 205 or equivalent for Graduate students.

ECO 528. International Economic Development. 3 credits. SP

Contemporary theories of economic development and their relationship to the continuing problems of unemployment, income distribution, population growth, urbanization, and economic growth in the Third World. Fulfills the College of Business requirement for an international course. P: ECO 205 or equivalent for Graduate students.

ECO 538. International Economics. 3 credits. FA

Basic theory of inter-regional and international trade; analysis of the international economy, including the institutions, procedures and policies of world trade and finance. Fulfills the College of Business requirements for an international course. P: ECO 205 or equivalent for Graduate students.