Economics  
 

Degrees/Courses

 
Degrees Courses
 
Major Requirements

A minimum of thirty-three (33) semester hours in economics (including ES211, 212, 311, 312, 301, 342, 492, and 499), and MS151 (or higher-level statistics course).


Students preparing for graduate work in economics or in business (MBA) should take statistics at the level of MS252 or higher (e.g., MS493, 494) and at least one semester of calculus. Additional calculus and work in linear algebra is highly recommended.


Students preparing for graduate studies in law, theology, public policy, urban planning, and other areas should consult with the department chair about appropriate supporting course work.


Students preparing to enter the job market on graduation should consider additional work in areas such as finance, CIS, accounting, marketing, communication, and applied mathematics.

 
Minor Requirements

Twenty-one (21) semester hours in economics, including 211 - 212 and at least one from 311 - 312.

 

ES211 & 212 may be taken in either order, but it is recommended that students take ES211 first.

 

Courses

ES211 Microeconomic Principles (3) BE
Introduction to the economic problem and the study of economics; basics of supply and demand; introduction to concepts and models used to understand the economic behavior of households and firms, economic outcomes under various market structures, market failures, and international trade.


ES212 Macroeconomic Principles (3) BE
Introduction to the economic problem and the study of economics; basics of supply and demand; introduction to concepts and models used to understand the business cycle (fluctuations in national income and employment) and inflation; basics of international finance.


SB/ES 300 Environmental Economics and Policy (3)
Microeconomic theory and models of environmental economics are examined, such as common property resources, externalities, environmental accounting, contingent valuation, and maximum sustainable yield, along with the complex economic and social impacts of environmental policy. Prerequisites: EL100 and ES211.


ES/BS301 Money and Banking (3)
A study of financial institutions and markets and of monetary theory. Prerequisite: ES212.


ES311 Intermediate Microeconomics (3)
Study of the theoretical models used to understand the economic behavior of households and firms, the outcomes to be expected under different market structures, and market failures; introduction to ways of assessing the efficiency and justice of market systems. Prerequisite: ES: 211, 212.


ES312 Intermediate Macroeconomics (3)
Study of the theoretical models used to understand business cycles and inflation and to evaluate fiscal and monetary policy.  Prerequisite: ES211, ES212.


ES/BS313 International Business (3) BE
An introduction to international business theory and practice. The balance of trade, balance of payments, international business strategy options, and the various modes of conducting international trade are included.


ES342 International Economics (3)
A study of the fundamental principles of international economic relations. Subjects covered include the economic basis for international specialization and trade, the economic gains from trade, trade policies, economic blocs, and the international financial system.  Prerequisite: ES211, 212.


ES/BS352 Labor/Management Relations (3)
Reviews the historical development of Labor and Management Relations in the United States. Explores the key aspects of today’s management/labor/ government interactions. Highlights the collective bargaining process through simulation. Prerequisite: ES212.


ES/PS376 Public Sector Economics (3)
Study of government expenditure and tax programs, including institutional description and economic analysis; cost-benefit analysis; efficiency and equity questions.


ES397 Field Experience in Economics (Variable)
Up to 3 semester hours of internship or experience in a field directly related to economics, negotiated between major advisor and student.  Prerequisite: Approval of the chairperson.


ES398 Readings in Economics (Variable)
Individually negotiated project of defined nature established by contract between instructor and student. Contracts filed with Registrar. Prerequisite: Approval of the chairperson.


ES435 Development Economics (3)
A study of economic development from primitive agricultural economies to modern manufacturing and post-industrial economies. Subjects include the many economic changes that accompany economic growth and why economic growth does or does not occur. Prerequisite: One course in economics.


ES465 Econometrics (3)
Introduction to Econometrics offers a general introduction to econometric methodology. The course begins with the classical linear regression model. After analyzing the properties of the simple and multivariate regression models, we will delve into a richer class of models to deal with endogeneity, such as IV-regression, and 2SLS-regression. At this point, we will switch gears, and learn basic techniques of time-series data. All topics in the class will be analyzed in two contexts: theory and application. That is, after analyzing the theoretic properties of estimators, we will then apply them to real-life examples and data sets, with emphasis on both visualization and interpretation. The semester will conclude with group projects. Prerequisites ES211, ES212, MS110 or 111, and MS151 or higher level statistics course.


ES492 History of Economic Thought (3)
Analysis of the contributions and perspectives of major economic thinkers from Adam Smith to the present. Prerequisite: Junior status.


ES499 Capstone Course in Economics (3)
Serves as capstone to economics major. This course applies microeconomic and macroeconomic theory to a variety of topics and requires students to engage in a research project. Students will read and analyze related journal articles.  Includes a career exploration/goals component.  Prerequisite: 21 hours of economics including 311, 312; MS 151 or higher-level statistics course, or concurrent enrollment in any unfinished course.