230 COURSE DESCRIPTIONS

230-201 PRINCIPLES  OF  MICROECONOMICS   GS 3 cr
Consumer and firm behavior. Market supply and demand and the price system. Monopoly and imperfectly competitive market structures. The pricing of factors of production and the distribution of income. Additional topics may include: poverty, growth and development; international trade. Conventional grade basis only if course is required in the College of Business for major.
Unreq: 230-212.

230-202  PRINCIPLES  OF MACROECONOMICS   GS 3 cr
The economic problem: allocating scarce resources among alternative uses. The role of the market: supply and demand. The aggregate economy: output, income, employment and inflation. The nature and role of money. The effect of government expenditure and taxation on the economy. Conventional grade basis only if course is required in the College of Business for major. Prereq:  ECON  201

230-213 ECONOMIC PRINCIPLES FOR TEACHERS 3 cr
Price-determination, income-distribution, and resource allocation in the market economy, including profit-making and cooperative business organizations. International trade, economic growth, and the role of government are examined. Satisfies the state teacher certification requirements of instruction in cooperatives.
Prereq: Sophomore standing. Unreq: ECON 201 or ECON 212.

230-245 BUSINESS STATISTICS I 3 cr
An introduction to descriptive statistics, probability theory and statistical inference. Graphical and numerical methods of summarizing data. Probability concepts and theoretical probability distributions. Sampling and sampling distributions. Estimation, confidence intervals and hypothesis testing. Correlation and regression analysis. The course emphasizes the application and interpretation of statistical techniques.
Prereq: 760-143.

230-301  INTERMEDIATE MICROECONOMIC ANALYSIS 3 cr
Consumer and firm behavior. Theories of consumption and production. Pricing of products and factors of production under different market structures. General equilibrium. Market failure, externalities and public goods.
Prereq: ECON 201 OR ECON 212.

230-302   INTERMEDIATE MACROECONOMIC ANALYSIS 3 cr
Measuring the aggregate economy: national income and product accounting, inflation and unemployment. The nature and role of money and interest rates in the macroeconomy. The effects of monetary and fiscal policies on output, employment and inflation in the short and long run. Economic fluctuations and growth.
Prereq: ECON 202 OR ECON 211.

230-324 COOPERATIVES 2 cr
A study of production, marketing, consumer and service cooperatives. Also covers history, principles, theory of cooperation, legislation, financing, taxation, etc. Students should develop an understanding of how cooperatives fit into our social and economic life.

230-341 GOVERNMENT AND BUSINESS 3 cr
Development of public policies toward business. Constitutional powers and limitations of the federal government. Laws and key Supreme Court cases dealing with monopoly, business practices and public utility regulation. River valley development, oil and natural gas policy and problems of public ownership.
Prereq: ECON 201 or ECON 212.

 230-345/545 BUSINESS STATISTICS II 3 cr
The second course in statistics is a course in applied regression analysis. It begins with a review and extension of descriptive statistics, probability and statistical inference as presented in a first course before going on to a detailed treatment of simple and multiple regression.
Prereq: 230-245.

230-351/551 THE ECONOMIES OF ASIA (EMERGING MARKETS)   GS      3 cr
A comparative study of the economic structures, institutions and processes of the nations of Asia with relevant historical perspective. Emphasis on current economic policies and business climate. Students may study specific countries in detail.
Prereq: 230-105 or 722-105 or 820-105 or 230-211.

230-353 ECONOMICS OF LABOR MARKETS AND LABOR POLICIES 3 cr
A study of the demand for and supply of labor with particular emphasis upon: the behavior of labor markets; economic theories of wage determination; labor institutions and their historical evolution; labor-management relations; the effects of public policy.
Prereq: ECON 201 or ECON 212

230-354 MONEY AND BANKING 3 cr
The demand for and supply of money in historical perspective including the role of the banking system in the credit creation process. Financial markets, interest rates and economic activity. The Federal Reserve System, monetary policy and the macroeconomy.
Prereq: ECON 201 or ECON 212

230-356 PUBLIC FINANCE 3 cr
Economic analysis of public sector issues in relation to the overall economy including: market failure and the role of the public sector; the effects of government expenditures, taxation and borrowing on the allocation and distribution of resources; stability of the U.S. economic system.
Prereq: ECON 201 or ECON 212

ECON 359 COMPARATIVE ECONOMIC SYSTEMS         3 cr
Study of the modern theories of capitalism and socialism and their variants. Examination of the origin, organization, operation and performance of alternative economic systems. Contemporary economies considered are those of United States, Russia, China, Japan and selected economies from Eastern and Western Europe. Emphasis is on reform/transition efforts in these economies.
Prereq: ECON 202 or ECON 211

230-360 GROWTH AND DEVELOPMENT IN THE WORLD ECONOMY 3 cr
The historical growth experience of industrialized economies; the challenge of development in Asia, Africa and Latin America; problems of transition in formerly centrally planned economies. Economic growth and structural change; income distribution and poverty; population growth and human resources; international trade, foreign investment and development assistance.
Prereq: ECON 202 or ECON 211

230-401 INTERNATIONAL ECONOMICS 3 cr
The nature, extent and growth of international trade. Comparative advantage as the basis for trade. Distribution of the gains from trade between and within countries. International capital and labor mobility. Growth, technological progress and trade. Tariffs, quotas, subsidies, economic integration. Exchange rates and the balance of payments.
Prereq: ECON 201 or ECON 212

230-402 BUSINESS CYCLES 3 cr
An historical overview and theoretical interpretations of U.S. business cycle experience. U.S. business cycles in a global context, business cycle theories and stabilization policy. Prereq: ECON 202 or ECON 211

230-404   HISTORY OF ECONOMIC THOUGHT 3 cr
A study of the development of economic ideas, with emphasis on classical, neo-classical, socialist, Keynesian and institutional schools of thought.
Prereq: ECON 202 OR ECON 211.

230-406 INTERNATIONAL FINANCE AND BANKING 3 cr
The monetary dimension of international economics. Balance of payments accounting; exchange rates, prices and interest rates; spot and forward foreign exchange; international financial markets and international banking; exchange rate systems and the role of central banks; open-economy macroeconomics; the international monetory system and current policy issues.
Prereq: ECON 202 or ECON 211

230-413 ADVANCED ECONOMIC ANALYSIS 3 cr
A survey of fundamental micro and macro economic theory that can be presented as mathematical models. The course emphasizes the use of models in positive economic analysis of areas such as consumer behavior, production, financial markets; and their role in facilitating rigorous analysis and developing testable predictions.
Prereq: ECON 201 and MATH 243 or MATH 250 or MATH 253 or consent of instructor.

230-431 ECONOMICS OF GLOBALIZATION 3 cr
The course treats the political economy of trade, foreign investment and multinational corporations; the economic and social consequences of globalization; governments, markets, and the instruments of international economic and industrial policy; the World Trade Organization and recent issues--environmental and labor standards; intellectual property; services trade; the developing nations.
Prereq: ECON 201 or ECON 212

230-437 MANAGERIAL ECONOMICS 3 cr
The course uses the tools and techniques of economic analysis to solve managerial problems. The emphasis is on practical applications. Topics: optimization techniques; analysis and estimation of demand and costs of production; market structures and pricing practice.
Prereq: ECON 201 or ECON 212 and ECON 245

230-438/638 URBAN REGIONAL AND TRANSPORT ECONOMICS 3 cr
The economics of location. Zoning and land use planning. Urban sprawl and the urban/rural periphery. Real estate economics. The urban crisis in the US. The role of the automobile and the highway system. Public policy and the urban environment.
Prereq: ECON 201 or ECON 212

230-441/641 INDUSTRIAL ORGANIZATION AND COMPETITIVE STRATEGIES 3 cr
Application of economic theory and analysis to case studies in American industry in terms of market structure, market conduct, and industry performance. Analysis of the ways business firms and markets are organized and interact, assessment of the outcomes of various types of firm behavior and the performance of markets, and evaluation of the causes and types of market failures.
Prereq: ECON 201 or ECON 212

230-445 ECONOMICS OF HEALTH CARE         3 cr
Economics of Health Care is concerned with allocation of resources within the health care sector of the U.S. economy. Major topics include production of health care and its distribution across the population. In addition, various measures will be used to establish the relationship between the health care sector and national policy concerns.
Prereq: ECON 201 or ECON 212

230-471 NATURAL RESOURCE AND ENVIRONMENTAL ECONOMICS         3 cr
Markets and the efficient allocation of resources over time. Market failure - property rights, externalities, public goods. Valuation of environmental benefits and costs. Economics of renewable and non-renewable natural resources - land, water, fisheries, forests, energy, minerals. Pollution abatement and environmental protection. Global issues - population, climate change, tropical deforestation, the oceans and atmosphere as global "commons".
Prereq: ECON 201 or ECON 212

230-490/690 WORKSHOP 1-3 cr
Repeatable

230-493 INTERNSHIP IN ECONOMICS 1-3 cr
This is an opportunity for an economics student to gain practical experience in a business, bank, government, non-profit organization before graduation. The experience will supplement the students' academic work in preparation for a career.
Prereq: Economics major or minor, junior or senior standing, and consent of the department.

230-494 SEMINAR IN ECONOMICS 1-3 cr
Repeatable. Prereq: Sr st with at least 12 credit hours in economics or consent of instructor.

230-496/696 SPECIAL STUDIES 1-3 cr
Repeatable for a maximum of 3 credits in the major or 6 credits in the degree.

 230-498 INDEPENDENT STUDY 1-3 cr
Repeatable. Prereq: Junior or senior standing and consent of instructor and department chairperson.

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Last revised on March 10, 2000 by WDT
URL: http://www.uww.edu/catalog2000