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Economics - Fall 2014

ECON 110: Economic Issues
4 semester hours
Tiffany, Frederick

Prerequisites:  No formal prerequisite, but students should be aware that we will use graphs frequently and that all exams will consist of “story problems.”
An introduction to economics through the study of some particular economic issue.  This section will focus on the idea of a “free market,” a term that is widely used, but often misunderstood.  We will first consider various definitions of a “free market” that are used in everyday language.  We will then build a model of a “perfectly competitive” market and consider why we might like what such a market does if allowed to be “free.”  Ways in which government intervention can cause such markets to act in a manner that we would not like will then be explored. We will also look at how a perfectly competitive market could “go wrong,” so that we would not like the outcome. In such cases, we will consider how the government might intervene in order to improve the market’s performance.  We will then consider monopoly markets and ask whether allowing them to be “free” will lead to an outcome that we like and, if not, what kinds of government policies would improve these markets’ performance.  A number of other markets will be discussed in the same manner, as time permits.  Lecture/Discussion format. 


ECON 190S: Principles of Economics
4 semester hours
Tiffany, Frederick; Wishart, David

Prerequisites:  Students must have attained the math placement level 22 to enroll.
An introduction to basic principles of economics.  Topics covered include supply and demand, marginal analysis, competition, profit maximization, aggregate demand, and supply, the level of employment, inflation, fiscal policy, monetary policy, and international trade.  Lecture/discussion format.


ECON 205: Macroeconomic Stabilization Policy
2 semester hours
Gwinn, Lawrence

Prerequisite:  Economics 190S
Macroeconomic Stabilization Policy is a two-semester hour course building on the fundamentals learned in Economics 190.  The course is intended to elevate the students’ knowledge to a level that allows them to understand the macroeconomic environment in which institutions operate and to easily transition to upper level economics courses that employ macroeconomic analysis.  Economics 205 also covers the relationship between foreign exchange rate systems and the domestic economy.  The course will be of interest to any student desiring further study of how central banks and governments use monetary and fiscal policy in response to the problems of inflation and unemployment. 


ECON 265: Economics of Sports
4 semester hours
Ankrom, Jeff
Prerequisites: ECON 190
Why do professional athletes make so much money? Why do cities use tax incentives to attract teams to their markets? Is the NCAA a cartel, and does it have the interests of student athletes in mind? How does money affect the competitive balance of sports leagues? Is amateurism possible today? These are some of the questions that will be addressed in this course. Sports are a huge business in the U.S. and ECON 265 examines the forces that have changed sports in recent decades.  Grade is determined by three exams, a number of short writing assignments and the quality of classroom participation. Lecture/discussion format.


ECON 300: Econometrics
4 semester hours
Gwinn, Lawrence

Prerequisites: ECON 190, MATH 131Q or its equivalent, and any statistics course.
Econometrics revolves around constructing and statistically testing economic models. The lectures will focus on discussing methodology in economics and learning the fundamentals of regression analysis. In addition, a large portion of the course will be devoted to research projects in which students use a computer regression package to test economic theory against empirical evidence, analyze economic policies, and forecast economic variables. Writing Intensive.


ECON 310: Intermediate Microeconomic Theory
4 semester hours
Tiffany, Frederick

Prerequisites: MATH 120 or Math Placement level 25 and ECON 190.
Economics 310 is a rigorous examination and extension of the microeconomic principles learned in ECON 190. Formal models of consumer and producer behavior are presented, along with theories of market behavior under assumptions of both perfect and imperfect competition. It is essential that students taking this course have a thorough understanding of ECON 190 and MATH 120. Lecture/discussion format. Grade is based on two midterm exams and a comprehensive final exam.


ECON 350: Environmental & Natural Resource Economics
4 semester hours
Wishart, David

Prerequisites: ECON 190 and MATH 120 or their equivalents.
This course examines economic approaches to coping with environmental problems and natural resource scarcity. Emphasis is given to the clear definition and enforcement of property rights as a means to avoid environmental problems. Models for pricing various renewable and nonrenewable natural resources are explored. The role of population change in environmental and natural resource issues is considered. Two exams and a final will be given. Students will write a 10 to 15 page term paper. Writing Intensive.


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