Economics Course Descriptions

Please find a full course listing of the courses currently offered by the department below:

  • Undergraduate Courses
  • Graduate Courses
  • 4 Year Planning Sheets for BBA Degree
  • 4 Year Planning Sheets for BA/BS Degree
  • Course Listing by number:

Undergraduate Courses

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ECON 201
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.
Prereq: Waiver of or a grade of C or better in Math 141

ECON 202
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

ECON 213
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.

ECON 245
An introduction to descriptive statistics, probability theory and statisticalinference. 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: MATH 143 or MATH 243 or MATH 250 or MATH 253.

ECON 301
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 and MATH 243 or MATH 250 or MATH 253

ECON 302
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 and MATH 243 or MATH 250 or MATH 253

ECON 341
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.

ECON 345
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: ECON 245 and MATH 243 or MATH 250 or MATH 253

ECON 353
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

ECON 354
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.

ECON 356
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

ECON 359
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

ECON 360
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

ECON 401
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.

ECON 402
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 and MATH 243 or MATH 250 or MATH 253

ECON 404
A study of the development of economic ideas, with emphasis on classical, neo-classical, socialist, Keynesian and institutional schools of thought.
Prereq: ECON 202.

ECON 406
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 monetary system and current policy issues.
Prereq: ECON 202.

ECON 413
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.

ECON 431
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.

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

ECON 438
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

ECON 441
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

ECON 445
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

ECON 471
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

ECON 490
WORKSHOP Repeatable 1-3 u

ECON 491
TRAVEL STUDY Repeatable 3 u

ECON 493
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.

ECON 494
Repeatable. Prereq: Sr st with at least 12 credit hours in economics or consent of instructor.

ECON 496
Repeatable for a maximum of 3 units in the major or 6 units in the degree.

ECON 497
EXCHANGE STUDY Repeatable 1-12 u

ECON 498
Repeatable. Prereq: Junior or senior standing and consent of instructor and department chairperson.

Graduate Courses

ECON 690
Workshop 1-3 u

ECON 694
Seminar 1-3 u

ECON 696
Special Studies 1-3 u

ECON 703
Statistics Foundations 3 u 
Introduction to descriptive statistics and basic statistical methods as applied to scientific problem solving and decision making. Topics covered include: descriptive statistics, elementary probability theory, theoretical distributions, sampling distributions, estimation, tests of hypothesis, simple linear regression and correlation analysis, and index numbers.

ECON 704
Economic Foundations 2 u 
A study of micro and macro economic tools of analysis. The functioning of a market economy in product and factor markets under alternative market structures. National income, fiscal policy, and the role of the money supply.

ECON 731
Microeconomic Theory 3 u
This course presents advanced topics in microeconomic theory, including consumer behavior, the firm and market structure, equilibrium conditions, and welfare economics. Students will learn important techniques and theories including multivariate optimization, fundamentals of general equilibrium theory and game theory, which form the building blocks of modern microeconomics analysis.
Prereq: Entry into the MS Applied Economics program

ECON 732
Macroeconomic Theory 3 u
Macroeconomics is concerned with the behavior of aggregate economic variables such as GDP or unemployment and the relationship between these variables. This course provides a rigorous introduction to the techniques and models required for these analyses, which form the building blocks of modern macroeconomics as practiced by researchers today.
Prereq: Entry into the MS Applied Economics program

ECON 733
Econometrics I  3 u
Econometrics I will focus on the estimation of models using various computer programs and understanding these models from an intuitive perspective. It introduces students to Regression methodology, focusing on assumptions of the framework, correcting for violations of the assumptions and examines the possibility of determining causality with observational data.
Prereq: Entry into the MS Applied Economics program and ECON 245 or equivalent

ECON 736
Business Conditions Analysis 2 u 
A study of the macroeconomic structure and operations of the economic system. Analysis of fluctuations in national income, output, employment, prices and exchange rates and the implication of such changes for business decisions. Evaluation of the influence of monetary policy, fiscal policies, and other macroeconomic events on economic activity. Assessment of the various approaches and methodologies available for forecasting business conditions. 
Prereq: ECON 704 or ECON 202 or equivalent.

ECON 737
Managerial Economics 2 u 
Applications of micro-economic theory to problems of formulating managerial decisions. Emphasis on economics as a science that facilitates decision making. Topics considered include optimization techniques, risk analysis and estimation of demand and costs of production, market structures and pricing practice, and antitrust economics. Integrates theory and practice. 
Prereq: ECON 703 or ECON 245 or equivalent and ECON 704, or ECON 201 or equivalent.

ECON 738
Quantitative Methods in Economics  3 u
This course will provide students with the mathematical methods and tools used in modern economic analysis. Linear algebra, multivariable calculus, and optimization theory are the main topics of the course and applications to simple economic models will be emphasized. Pre-requisites are entry into the MS Economics program.
Prereq: Entry into the MS Applied Economics program

ECON 740
Research Methods and Data Handling  3 u
This course provides an introduction for students on how to conduct empirical and applied economic research. It focuses on the basic approaches of research design and methodology within the Economics discipline. It introduces students to data handling and management, and to a variety of software packages used in economic research.
Prereq: ECON 733 and ECON 738

ECON 741
Advanced Topics in Microeconomics  3 u
This is the second course in the graduate microeconomics sequence.  It extends the theories and techniques introduced in Econ 731.  Specifically, the many different fields of study in microeconomics are introduced and explored such as: industrial organization, game theory and managerial, international, public, environmental, development, labor, health and urban economics.
Prereq: ECON 731 and ECON 738

ECON 742
Advanced Topics in Macroeconomics 3 u
This course covers advanced topics in macroeconomics. Its purpose is to expose students to recent developments in the study of business cycles, and the effect and conduct of macroeconomic policies in open economies.
Prereq: ECON 732

ECON 743
Econometrics II  3 u
Econometrics II introduces students to advanced techniques in modeling. In the course, students will study applied methods for model selection, implementation, and inference for cross sectional, time series, and panel data. The major emphasis will be on understanding these models from an intuitive perspective and estimating these using computer programs.
Prereq: ECON 733 and ECON 738

ECON 745
Economics Of Health Care 3 u 
Economics of Health Care is concerned with the provision and distribution of health care across the country and the allocation of resources within the health care sector of the economy. Various measures will be examined to establish the impact of health care on individual, national, and international economic policy concerns. 
Prereq: Graduate standing or the consent of the instructor.

ECON 747
Game Theory  3 u
Game Theory provides a formal language for the description of games and offers a certain amount of guidance on their solution, i.e., a prediction or a rationalization of their outcome.  This course emphasizes tools, techniques, and applications of non-cooperative game theory. The course is devoted to study different types of games, including static games, dynamic games, repeated games, and Bayesian games.
Prereq: ECON 731

ECON 749
Development Economics  3 u
This course will give students an outlook into the field of Development Economics. Topics covered include role of credit markets, agriculture, health and education, property rights and institutions in growth and development. On the empirical side, we will examine econometric techniques such as panel data, instrumental variables and randomized experiments, used in the field to establish causal relationships.
Prereq: ECON 731 and ECON 738

ECON 751
Economics Of Regulation 3 u 
The rationale for government regulation and intervention in different situations. Antitrust policy. Several different models of regulation. The economic effects of regulation on public utilities, transportation, pollution control, and protection of consumers.
Prereq: ECON 704 or ECON 201 or equivalent.

ECON 752
Resource Economics  3 u
Resource Economics provides an in-depth examination into the field of environmental and natural resource economics.  It is designed to provide insight into economic aspects of a wide range of environmental issues such as optimal fishery and forestry management, energy provision, population dynamics, air and water pollution, climate change, and sustainability.
Prereq: ECON 731 and ECON 738 or  ECON 703, ECON 704 and ECON 737 or equivalent.

ECON 757
Industrial Organization 3 u
Industrial Organization is the study of imperfect competition. We will explain why imperfect competition is pervasive, discuss how to describe imperfectly competitive industries, consider alternative strategies in such industries, evaluate the implications for profitability and welfare, and assess the impacts of public policies on firm strategy and industry performance.
Prereq: ECON 731

ECON 758
Advanced International Economics 3 u 
A study of international trade and finance issues; multinational enterprises, international investments, currency problems, and balance of payments issues. Analyzes the structure and scope of world trade and international financial markets in developed and developing countries. 
Prereq: ECON 704 or ECON 202 and ECON 201 or equivalent.

ECON 760
Econometric Theory  3 u
This course is intended for those students who want to develop a greater understanding of the underlying theory utilized in the first two econometric classes in our program. Key topics include investigating distributional properties and asymptotic theory.
Prereq: ECON 733 and ECON 743 with a  B- or higher

ECON 761
Business And Economic Forecasting 3 u 
Techniques for operational business forecasting with emphasis on time-series methods. Topics covered include single and multi-equation regression models; trend analysis; smoothing techniques, decomposition methods; Box-Jenkins time series methods; evaluation of forecasts; and the integration of forecasting in the decision making process. 
Prereq: ECON 703 or ECON 245 or equivalent.

ECON 773
International Macroeconomics  3 u
This course focuses on macroeconomic issues and policies in open economies and surveys selected current research topics in the field. Topics treated include the intertemporal approach to the current account, international financial integration, international and domestic asset markets, sovereign debt crises, business cycle synchronization and transmission of shocks.
Prereq: ECON 732

ECON 775
Monetary Economics  3 u
This course focuses on monetary theory and policy. It surveys selected current research topics in the field. Topics studied include alternative models of money, the transmission mechanism of monetary policy, the persistence of inflation, and the conduct of monetary policy is a New Keynesian environment.
Prereq: ECON 732 and ECON 733 and ECON 738

ECON 789
Readings And Research In Economics 3 u 
Directed readings in current research and literature selected to apply to a contemporary economic field, problem or issue. 
Prereq: Graduate standing and consent of instructor. 

ECON 790
Workshop 1-6 u

ECON 794
Seminar 1-3 u 

ECON 798
Individual Studies 1-3 u

ECON 799
Thesis Research 1-6 u 
Students must complete a Thesis Proposal Form in the Graduate Studies Office before registering for this course. 
Prereq: Graduate standing and 28 credits in undergraduate and graduate economics courses. Some of these may be taken concurrently with approval of adviser.