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Economics and Business

www.coloradocollege.edu/academics/dept/economics/

Professors KAPURIA-FOREMAN, LAUX, SMITH,  TIEFENTHALER; Associate Professors FENN, D. JOHNSON (chair), PARCO, REDMOUNT; Assistant Professors DE ARAUJO(associate chair), KHRAICHE; Research Professor RASK; Schlessman Visiting Executive-in-Residence SKILLING; Visiting Faculty CARTER, COOLEY, JETER, MANN, KACZMAREK,  RAPPAPORT, WOGLOM

THE MAJOR — REQUIREMENTS:

The department of economics and business offers a major in economics and supports several interdisciplinary majors including mathematical economics, international political economy, and environmental science. The college’s location, resources, and unique Block Plan calendar allow the faculty to offer students truly extraordinary learning experiences. Many of the department’s courses incorporate experiential learning opportunities including guest lecturers, executives-in-residence, and field trips. Field trips range from one-day visits to Denver to visits with the executives of high-tech telecommunications firms and the front offices of professional sports franchises to extensive one- to two-week field trips to study economics issues. A large percentage of students take advantage of opportunities to study at another college or university in the United States or to study abroad at institutions such as the London School of Economics and the University of Maastricht. The college also has an exchange agreement with the Jönköping International Business School in Sweden.

The department aims to provide students with rigorous grounding in economic principles and business concepts, providing excellent preparation for careers in business and public service. In addition, many of the department’s students attend some of the nation’s finest business and law schools, and pursue graduate study in economics, public policy, and environmental management at leading research universities.

To declare a major in economics, students must complete Principles of Economics (150 or 151 and 152) and Principles of Financial Accounting (160). Other courses required for the major include Methods I (200 or MA117 or BY220), Intermediate Microeconomic (207) and Macroeconomic (209) Theory, Methods II (303) or Econometrics (408), and three additional units of economics and business courses at the 300 or 400 level. All economics majors also complete an independent senior thesis research project (499 — 2 units) working closely with a faculty advisor. Majors must also take Mathematics 125 (2 units) or 126.

The department regularly offers courses in international economics, environmental and natural resource economics, labor and sports economics, public finance, economic development, and comparative economic systems. For those students who wish to focus on business, the department offers many elective business courses including Intermediate (301) and Managerial (307) Accounting, Theory of Business Finance (316), Investments (317), Entrepreneurship (320), Consumer Marketing (326), and Business Policy and Strategy (405). Perspectives on Business in a Changing World — an ongoing program of guest speakers, executives-in-residence, special programs and symposia — enrich departmental and college-community discussions of business and economics issues and challenges.

Students who excel in the major will find many opportunities to pursue independent research projects or to work collaboratively with department faculty, and the department and college have significant resources to support these research activities. Distinction at graduation and other prizes are awarded by the department faculty to majors on the basis of the senior thesis, overall performance in department courses, and performance in courses outside the department and social science division.

Economics Courses

EC100 Principles of Economics

An introduction to the principles of economics (both microeconomics and macroeconomics) with emphasis on decision-making by households and firms, the way in which individual markets work, the distribution of income, governmental impact on specific markets, the behavior of economic aggregates such as total output, total employment, the price level, the rate of economic growth; and government policies which affect them. (Not offered 2015-16).

2 units

EC101 Principles of Microeconomics

An introduction to the principles of microeconomics with emphasis on decision-making by households and firms, the way in which individual markets work, the distribution of income, and governmental impact on specific markets. Meets the Critical Perspectives: Quantitative Reasoning requirement.

1 unit — Fullerton, Lybecker

EC102 Principles of Macroeconomics

An introduction to the principles of macroeconomics with emphasis on the behavior of economic aggregates such as total output, total employment, the price level, and the rate of economic growth; and government policies which affect them Meets the Critical Perspectives: Quantitative Reasoning requirement.

1 unit — Rappaport

EC104 Legal Environment of Business

Survey of the U.S. system of laws and courts and the role of law in business and personal decision-making. A study of case law and judicial thinking ranging from traditional fields of contracts and torts to recent Supreme Court decisions on the environment, e-commerce, the Internet, licensing, and First Amendment freedoms.

1 unit — Jeter

EC108 Water Resource Management

Examines current problems in water resource management on various scales - from local to international (transboundary) supply and quality issues. Aims to demonstrate on an introductory level the value of economic analysis in the context of other approaches for thinking about water resources issues. Intended for non-majors. No credit if taken after 150, 151, 152 or 160, and may not be counted toward either the economics or political economy majors. (Not offered 2014-15).

Prerequisite: No credit after 150 (or 151 & 152) or 160 & can't be counted towards Econ or Poli Econ majors.

.5 unit

EC109 Personal Financial Planning

The study of the development and implementation of a personal financial and investment program. Includes analysis of budgeting and tax planning, managing liquidity, financing large purchases, protecting assets and income, analyzing investment information, examining alternative investment types, and investing money for retirement.

.5 unit — Cooley, Parco

EC110 Topics in Economics and Business

Selected introductory topics in economics and business. Specific content and emphasis to be determined by the instructor. Exposes students to problems and trends in society which can be illuminated through application of basic tools and concepts drawn from economics and business fields. May be taught with Emphasis on Writing and Speaking.

Also listed as Classics 222 and History 209.

1 unit — Buxton

EC111 Personal Financial Planning

The study of the development and implementation of a personal financial and investment program. Includes analysis of budgeting and tax planning, managing liquidity, financing large purchases, protecting assets and income, analyzing investment information, examining alternative investment types, and investing money for retirement. There is no enrollment limit to this course and it is graded Pass/Fail only.

.5 unit — Parco

EC112 Business and Society

An examination of the social, political and natural environment in which business operates (Not offered 2015-16).

1 unit

EC115 Legal Environment of Business

Survey of the U.S. system of laws and courts and the role of law in business and personal decision-making. A study of case law and judicial thinking ranging from traditional fields of contracts and torts to recent Supreme Court decisions on the environment, e-commerce, the Internet, licensing, and First Amendment freedoms

1 unit — Jeter

EC120 Entrepreneurial Idea Development

Introduction to how social and environmental challenges can create entrepreneurial opportunities. Course emphasis will be on social enterprises in both non-profit and for-profit sectors, leading into a project to be developed in EC 220. Credit granted only after completion of EC 220. Pass/fail grade only (Not offered 2015-16).

Prerequisite: consent of instructor.

.25 unit

EC141 Sustainable Development

Investigates the concept of sustainable development by first introducing students to necessary economic terms and concepts. It next explores traditional economic models of production and distribution. Finally it introduces the concept of sustainable development (meeting the needs of the present without compromising the ability of future generations to meet their own needs). The course includes fieldwork to explore the behavior of traditional economic models and examples of sustainable development. May involve additional expense $$$. Students can choose to take this course for credit either in Economics (EC 141) or Environmental Science (EV 141) (Fulfills one unit of the divisional requirement in the Social Sciences, but not in the Natural Sciences.) (Also listed as EV 141.) (Not offered 2015-16).

1 unit

EC142 Water Resource Management

Examines current problems in water resource management on various scales — from local to international (transboundary) supply and quality issues. Aims to demonstrate on an introductory level the value of economic analysis in the context of other approaches for thinking about water resources issues. (Not offered 2015-16).

.5 unit

EC150 Principles of Economics

An introduction to the principles of economics (both microeconomics and macroeconomics) with emphasis on decision-making by households and firms, the way in which individual markets work, the distribution of income, governmental impact on specific markets, and the behavior of economic aggregates such as total output, total employment, the price level, and the rate of economic growth; and government policies which affect them. Meets the Critical Perspectives: Quantitative Reasoning requirement. (Not offered 2014-15).

2 units

EC151 Principles of Microeconomics

An introduction to the principles of microeconomics with emphasis on decision-making by households and firms, the way in which individual markets work, the distribution of income, and governmental impact on specific markets. Meets the Critical Perspectives: Quantitative Reasoning requirement.

1 unit — Fullerton, Kapuria-Foreman, Lybecker, Smith

EC152 Principles of Macroeconomics

An introduction to the principles of macroeconomics with emphasis on the behavior of economic aggregates such as total output, total employment, the price level, and the rate of economic growth; and government policies which affect them. Meets the Critical Perspectives: Quantitative Reasoning requirement.

1 unit — Rappaport, Redmount, de Araujo

EC160 Principles of Financial Accounting

An introduction to the fundamentals of the financial statements of corporations, including statement interpretation and analysis. Exposes students to economic decisions and their consequences as they relate to business activities, including operating, investing, and financing activities. Meets the Critical Perspectives: Quantitative Reasoning requirement.

1 unit — Cooley, Laux

EC200 Methods I: Statistics

An introduction to descriptive and inferential statistics including basic probability theory, distinctions between population and sampling distributions, estimation of population parameters, hypothesis testing and an introduction to nonparametric statistics. Examples, problems and labs are chosen to expose students to the kinds of problems faced in Economics and Business. (No credit if taken after Biology 220 or Mathematics 117 or 217.). (Not offered 2014-15).

Prerequisite: Economics 150 (or 151 & 152) (No credit after Biology 220 or Mathematics 117).

1 unit

EC201 Economic Theory I

An introduction to the economics (both microeconomics and macroeconomics) using calculus. The three main themes include consumer theory, producer theory and macroeconomic aggregates and models

Prerequisite: Mathematics 125 or Mathematics 126 or equivalent.

1 unit — Fullerton, Khraiche, Smith

EC205 Principles of Financial Accounting

An introduction to the fundamentals of the financial statements of corporations, including statement interpretation and analysis. Exposes students to economic decisions and their consequences as they relate to business activities, including operating, investing, and financing activities Meets the Critical Perspectives: Quantitative Reasoning requirement.

1 unit — Laux

EC207 Intermediate Microeconomic Theory

A general theory of pricing for both the product and factor markets within the different market structures of pure competition, monopolistic competition, oligopoly and monopoly; the economic behavior of: (1) the individual or the household; (2) the firm; (3) the industry; and (4) the economy as a whole. The relationship between economic theory and public policy.

Prerequisite: 150 (or 151 & 152) & Mathematics 125 or 126.

1 unit — Fenn, Fullerton, Johnson, Kapuria-Foreman

EC209 Intermed Macroeconomic Theory

Macroeconomic models that study the relationships between economic aggregates such as: income, consumption, employment, savings, investment, government expenditures, net exports, interest rates, wages, and prices. Comparison of models to real world data and applications to fiscal and monetary policies in the short and long run.

Prerequisite: Ec 150 (or 151 and 152) and Math 126.

1 unit — Rappaport, Redmount, de Araujo

EC210 Intermediate Topics in Economics and Business

Selected topics in economics and business, drawing on the use of previous knowledge of economic principles

Prerequisite: Economics 201 or equivalent.

1 unit — Edmonds, Parco, Smith

EC220 Entrepreneurship

Examines the knowledge and skills needed for the identification, evaluation, and exploitation of opportunities in a variety of circumstances and environments. Attention is paid to the behaviors of entrepreneurs, networks, the venture creation process, financing, legal and tax considerations, and the development of a formal venture proposal. May include local field trips. Pass/fail grade only. (Not offered 2015-16).

Prerequisite: Economics 120; Economics 201 or Economics 205.

1 unit

EC221 Entrepreneurial Execution

For students who have fully-developed venture proposals and intend to launch them into viable business entities. This course may be taken repeatedly after the completion of EC 220. Pass/fail grade only. (Not offered 2015-16).

Prerequisite: Economics 220.

.25 unit

EC241 The Economics of Sports

The course will examine sports economics models. Students will apply theory to various aspects of both collegiate and professional sports. Topics include (but are not limited to) wage discrimination in sports, the economics of stadiums, alumni giving and collegiate athletics, academics and collegiate athletics, sports rights and broadcasting, and sports and gambling. (Day trips, additional expense $$$ for students.) Field trips may be included.

Prerequisite: Economics 201; Mathematics 117.

1 unit — Fenn

EC243 Environmental Economics

This course develops: 1.) the tools necessary for the economic analysis of environmental and natural resource problems; 2.) the ability to apply those tools in the investigation of a real world environmental resource problem and; 3.) the insight to form policy recommendations on the basis of such analysis and investigation. Particular emphasis on problems of market failure, such as externalities, public goods, non-market goods, uncertainty, income distribution, inter-temporal resource allocation and policies to correct for imperfect markets.

Prerequisite: Economics 201.

Also listed as Environmental Science 335.

1 unit — Smith

EC245 Public Economics and Policy

The economic aspects of public revenues, expenditures and debt; the different types of taxes; the interrelationship between the activity of the private and public economy. (Not offered 2015-16).

Prerequisite: Economics 201. May also count as a course within the Macroeconomics/International Theme.

1 unit

EC275 Introduction to International Political Economy

Examination of classic and modern conceptions of political economy. Emphasis on understanding theory and applying it to explain political and economic outcomes within states and among states in the international arena. Open to International Political Economy majors and to others with consent of instructor. (Also listed as Political Science 375).

Prerequisite: Economics 201.

Also listed as Political Science 375.

1 unit — Gould, Kapuria-Foreman

EC301 Microeconomic Theory II

An advanced theory of pricing for both the product and factor markets with an emphasis on the economic behavior of: 1.) the individual; 2.) the household; 3.) the firm; and 4.) the industry.

Prerequisite: Economics 201.

1 unit — Fenn, Lybecker, de Araujo

EC302 Macroeconomic Theory II

An advanced study of business cycles and economic growth models.

Prerequisite: Economics 201.

1 unit — Khraiche, de Araujo

EC303 Econometrics

The use of statistical and mathematical techniques in the applied analysis of economic models. Macro- and micro-economic applications.

Prerequisite: 301 or 302; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit — Kapuria-Foreman, Rappaport, Rask

EC304 Topics in Research Methods

Examination of methods of analysis commonly used in economics and business. Emphasis on the use of models. Topics include coverage of a variety of quantitative and qualitative modeling techniques appropriate to undergraduate research leading to the development of a thesis. (Not offered 2015-16).

Prerequisite: Economics 303; May count as a course within the Business Theme, Microeconomics Theme or Macroeconomics/International Theme.

1 unit

EC306 Industrial Organization

Problems of competition and coordination among firms in the market at large, including the dynamics of monopoly, oligopoly, monopolistic competition and such practices as price discrimination, tying and bundling, and product differentiation. Examination of the rationales behind antitrust legislation and regulation. May include field trip.

Prerequisite: 150 (or 151 & 152).

1 unit — Fullerton

EC307 Managerial Accounting

Principles and problems of assembling, recording, and interpreting cost data for manufacturing and service firms. Introduces various costing systems, including activity-based and standard costing systems, with emphasis on the economic decisions managers make using this accounting data and the potential impact on employee behavior.

Prerequisite: 160.

1 unit — Laux

EC312 Intermediate Accounting

Presentation and critical review of the elements of financial statements with concentration on accounting theory and interpretation by users. Addresses problems with income determination. (Not offered 2015-16).

Prerequisite: Economics 201; Economics 205; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit

EC313 Managerial Accounting

Principles and problems of assembling, recording, and interpreting cost data for manufacturing and service firms. Introduces various costing systems, including activity-based and standard costing systems, with emphasis on the economic decisions managers make using this accounting data and the potential impact on employee behavior.

Prerequisite: Economics 201; Economics 205; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit — Laux

EC314 The Economics of Organization

Internal organization of the firm, how incentive structures and problems in contracting and coordination affect patterns of ownership, financial structure, vertical and horizontal integration and internal labor markets. (Not offered 2014-15).

Prerequisite: 150 (or 151 & 152); 160.

1 unit

EC316 Theory of Business Finance

This course examines the role of the financial manager in determining the appropriate composition and level of assets and their financing within the context of stockholder wealth maximization. Key theoretical constructs include operating and financial leverage, the risk-return tradeoff, liquidity, and agency theory. Topics include financial analysis and planning, working capital management, cost of capital, capital budgeting, and mergers and acquisitions.

Prerequisite: Economics 201; Economics 205; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit — Laux

EC317 Investments

Introduction to the prevailing theories, models and philosophies of investment analysis and management for an environment where individuals make investment decisions under uncertainty. Exploration of both investment fundamentals with a brief introduction to portfolio management. Specific topics of interest include a comprehensive TVM review, fundamentals analysis, market behavior, asset allocation, portfolio theory, ethics, risk and return, and behavioral finance.

Prerequisite: Economics 201; Economics 205; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit — Parco

EC319 Entrepreneurial Idea Development

Introduction to how social and environmental challenges can create entrepreneurial opportunities. Course emphasis will be on social enterprises in both non-profit and for-profit sectors, leading into a project to be developed in EC320. This course may only be taken in the same term a student is enrolled or waitlisted in EC320. Students who are successfully placed on the EC320 roster (both enrolled and waitlisted) will automatically be enrolled in this adjunct course. (Not offered 2014-15).

Prerequisite: Economics 150 (or Economics 151 & EC152),.

.25 unit

EC320 Entrepreneurship

Examines the knowledge and skills needed for the identification, evaluation, and exploitation of opportunities in a variety of circumstances and environments. Attention is paid to the behaviors of entrepreneurs, networks, the venture creation process, financing, legal and tax considerations, and the development of a formal venture proposal. May include local field trips. (Not offered 2014-15).

Prerequisite: Economics 150 (or 151 & 152); 160.

1 unit

EC321 Entrepreneurial Execution

For students who have fully-developed venture proposals and intend to launch them into viable business entities. This course may be taken repeatedly after the completion of EC320. (Not offered 2014-15).

Prerequisite: Economics 320 or consent of instructor.

.25 unit

EC322 Money, Banking & Financial Markets

Macroeconomic analysis of capital markets. Issues include Federal Reserve monetary policy, changes in the banking industry, determination of interest rates and stock market valuation. Development of skills to analyze current financial news and make predictions regarding their economic impact. (New York field trip in alternate years with additional expenses and a class size limit of 15.) Class limit is 25 in the years when there is no field trip.

Prerequisite: Economics 209.

1 unit — Rappaport

EC324 Business & Society

An examination of the institutions, operations, and philosophical foundations of business and the social, political and natural environment in which it grew. Emphasis is on the interrelationships of historical foundations of contemporary problems. (Not offered 2014-15).

Prerequisite: 150 (or 151 & 152); 160.

1 unit

EC326 Consumer Marketing

The analysis and segmentation of markets; the psychological, emotional, and social bases of consumer behavior; the analytical techniques employed by market research professionals; and the development, implementation, and evaluation of marketing strategies.

Prerequisite: Economics 205; Economics 301; Economics 302; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit — Parco

EC328 Economics of the Environment

Application of economic concepts to analysis of environmental problems. Development of approaches to dealing with the special problems of non-market goods. Discussion of the role of economics in policy analysis. Particular emphasis on problems of market failure, i. e. externalities, public goods, non-market goods, uncertainty, income distribution, inter-temporal resource allocation and policies to correct for imperfect markets. (Not offered 2014-15).

Prerequisite: Economics 150 (or 151 & 152).

.5 unit

EC329 Business Organization and Management

The motivation of individuals in organizations; effective goal setting practices; the sources of power in organizations and how leadership styles influence individual effort and job performance; the characteristics of effective teams, the key human resource management challenges facing organizations; and the importance of organizational culture and how organizational cultures are created.

Prerequisite: Economics 205; Economics 301; Economics 302; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit — Parco

EC330 Public economics and Policy

The economic aspects of public revenues, expenditures and debt; the different types of taxes; the interrelationship between the activity of the private and public economy.

Prerequisite: Economics 150 (or 151 & 152).

1 unit — Johnson

EC331 Business Organization and Management

The motivation of individuals in organizations, effective goal setting practices, the sources of power in organizations and how leadership styles influence individual effort and job performance, the characteristics of effective teams, the key human resource management challenges facing organizations, and the importance of organizational culture and how organizational cultures are created. (Not offered 2014-15).

Prerequisite: Economics 160 or Psychology 100, 101 or 111. Will count toward the economics major only if taken after Economics 160.

1 unit

EC334 Comparative Economic Systems

Comparison of the nature and operation of modern economic systems, emphasizing structural and policy differences and similarities as well as differences of economic ideology. Emphasis given to contemporary capitalist economies, as well as economies in transition from central planning. (Not offered 2014-15).

Prerequisite: Economics 150 (or 151 & 152).

1 unit

EC335 Environmental Economics

This course develops: (1) the tools necessary for the economic analysis of environmental and natural resource problems; (2) the ability to apply those tools in the investigation of a real world environmental resource problems and; (3) the insight to form policy recommendations on the basis of such analysis and investigation. Particular emphasis on problems of market failure, such as externalities, public goods, non-market goods, uncertainty, income distribution, inter-temporal resource allocation and policies to correct for imperfect markets.

Prerequisite: Economics 150 (or 151 & 152).

Also listed as Environmental Science 335.

1 unit — Smith

EC336 Economics of Labor

Problems of employment of labor from the standpoint of employees, employers and society including the following: economic analysis of trade unions; union types, theories, policies, methods and weapons; company and union public relations. Junior standing.

Prerequisite: Economics 150 (or 151 & 152).

1 unit — Redmount

EC337 Economic Development

Examines various attempts by Third World countries to achieve higher standards of living; emphasizes the theoretical and policy approaches adopted in both the domestic and international spheres. Meets the Critical Perspectives: Diverse Cultures and Critiques requirement. Meets the Critical Perspectives: Global Cultures requirement.

Prerequisite: Economics 150 (or 151 & 152).

1 unit — Kapuria-Foreman

EC339 The East Asian Tigers

This course focuses on the common characteristics and diversity of East Asian growth experiences and the rise and fall of belief in a uniquely East Asian model of economic development. (Not offered 2014-15).

Prerequisite: 150 (or 151 & 152).

1 unit

EC341 Ecological Economics and Sustainability

Provides an introduction to ecological economics (an interdisciplinary approach to understanding and managing the ecology and economics of our world) and introduces/extends students’ understanding of sustainability (meeting the needs of the present without compromising the ability of future generations to meet their own needs). It reviews options for economically efficient allocation of resources that also protect the stock of natural capital over spatial and temporal space; and investigates the application of tools of analysis and solutions to a regional management problem in the American West. It includes fieldwork and may involve additional expense $$$. Students may choose to take this course for credit either in Economics (EC 341) or Environmental Studies (EV 341) if they meet the necessary prerequisite in either department/program. (Fulfills one unit of the divisional requirement in the Social Sciences but not in the Natural Sciences.) May also count as a course within the Macroeconomics/International Theme. (Not offered 2015-16).

Prerequisite: Economics credit: Economics 301; Economics 302; Environmental Science credit: Economics 141/EV 141 and Economics 201. (Also listed as Environmental Science 341.).

1 unit

EC342 Economics of International Trade

Historical and economic analysis of foreign trade; theories of international trade; commercial policies and economic integration; changing patterns of trade; regional and world trade organizations.

Prerequisite: Economics 150 (or 151 & 152).

1 unit — Lybecker

EC343 Environmental Economics II

Application of economic concepts to analysis of environmental problems. Development of approaches to dealing with the special problems of non-market goods. Discussion of the role of economics in policy analysis. Particular emphasis on problems of market failure, i.e., externalities, public goods, non-market goods, uncertainty, income distribution, inter-temporal resource allocation and policies to correct for imperfect markets. (Not offered 2015-16).

Prerequisite: 301; 302.

1 unit

EC344 Industrial Organization

Problems of competition and coordination among firms in the market at large, including the dynamics of monopoly, oligopoly, monopolistics competition and such practices as price discrimination, tying and bundling, and product differentiation. Examination of the rationales behind antitrust legislation and regulation. May include field trip.

Prerequisite: Economics 301; Economics 302.

1 unit — Lybecker

EC346 Economics of Labor

Problems of employment of labor from the standpoint of employees, employers and society including the following: economic analysis of trade unions; union types, theories, policies, methods and weapons; company and union public relations, junior standing. May also count as a course within the Macroeconomics/International Theme. (Not offered 2015-16).

Prerequisite: Economics 301; Economics 302; Economics 303.

1 unit

EC347 Economics of International Trade

Historical and economic analysis of foreign trade; theories of international trade; commercial policies and economic integration; changing patterns of trade; regional and world trade organizations. May also count as a course within the Macroeconomics/International Theme.

Prerequisite: Economics 301; Economics 302.

1 unit — Fullerton, Lybecker

EC348 Economics of Innovation

Exploration of the field of technological change: how technologies develop and evolve; and how technologies subsequently affect our economy and society. Using case studies and journal articles as a springboard for discussion, we will apply economic concepts to events ranging from the Industrial Revolution to the present. Topics may include patent law, copyright infringement, the Green Revolution, e-commerce, health and agricultural biotechnology, and energy-related innovation. Required field study during the block, Additional expense $$$ for students. May also count as a course within the Macroeconomics/International Theme. (Not offered 2015-16).

Prerequisite: Economics 301; Economics 302.

1 unit

EC350 Economics of Higher Education

This course applies economic theory and data analysis in an investigation of important issues in higher education. Issues of prestige, admissions, financial aid, access, student and faculty quality, alumni giving and endowments, and externalities will be addressed (Not offered 2015-16).

Prerequisite: Economics 301, Economics 303.

1 unit

EC351 The Economics of Immigration

An examination of consequences for home and host countries of the individual/family decision to migrate. (Not offered 2015-16).

Prerequisite: consent of instructor or Economics 301, Economics 302, Economics 303.May also count as a course within the Macroeconomics/International Theme.

1 unit

EC352 The Economics of Organization

Internal organization of the firm, how incentive structures and problems in contracting and coordination affect patterns of ownership, financial structure, vertical and horizontal integration and internal labor markets (Not offered 2015-16).

Prerequisite: Economics 301.

1 unit

EC365 Economics of Innovation

Exploration of the field of technological change: how technologies develop and evolve; and how technologies subsequently affect our economy and society. Using case studies and journal articles as a springboard for discussion, we will apply economic concepts to events ranging from the Industrial Revolution to the present. Topics may include patent law, copyright infringement, the Green Revolution, e-commerce, health and agricultural biotechnology, and energy-related innovation. Required field study during the block, extra expense for students.

Prerequisite: Economics 151 & 152 or Economics 150.

1 unit — Johnson

EC370 Contemporary Issues:

A half-unit topics course intended to explore issues of current public or professional interest generating widespread debate. May be taught extended format or as a half-block course. No credit as an Economics elective if taken before 150 (or 151 and 152). (Not offered 2014-15).

Prerequisite: 150 (or 151 & 152) or consent of instructor. No credit as an Econ elective if taken before 150 (or 151& 152).

.5 unit

EC371 Money, Banking and Financial Markets

Macroeconomic analysis of capital markets. Issues include Federal Reserve monetary policy, changes in the banking industry, determination of interest rates and stock market valuation. Development of skills to analyze current financial news and make predictions regarding their economic impact.

Prerequisite: Economics 301, Economics 302.

1 unit — Rappaport

EC372 Economic Development

Examines various attempts by Third World countries to achieve higher standards of living; emphasizes the theoretical and policy approaches adopted in both the domestic and international spheres. Meets the Critical Perspectives: Diverse Cultures and Critiques requirement. Meets the Critical Perspectives: Global Cultures requirement.

Prerequisite: Economics 302.

1 unit — Kapuria-Foreman

EC373 The East Asian Tigers

This course focuses on the common characteristics and diversity of East Asian growth experiences and the rise and fall of belief in a uniquely East Asian model of economic development (Not offered 2015-16).

Prerequisite: Economics 301; Economics 302.

1 unit

EC374 Economic Development of Latin America

This course utilizes economic theory to enable students to both understand and analyze the role of economic policy in the national arenas of Latin America. The course begins with an introduction to the global economic environment, the historical background of Latin America and the economic emergence of the region. The course focuses on several aspects of trade policy and regional agreements, monetary policy, fiscal policy, and their impact on the international policy environment, framing the analysis of these microeconomic and macroeconomic issues in the context of Latin America. The course will also address current events, both domestic and international, which are particularly relevant for the economic viability of the region. The purpose of the course is to understand the economic context and environment of policymaking in Latin America, as well as the impact on the different actors: workers, firms, the environment, political institutions. (Not offered 2015-16).

Prerequisite: Economics 301, Economics 302.

1 unit

EC375 Introduction to International Political Economy

Examination of classic and modern conceptions of political economy. Emphasis on understanding theory and applying it to explain political and economic outcomes within states and among states in the international arena. Open to International Political Economy majors and to others with consent of instructor.

Prerequisite: Economics 150 (or 151 & 152).

Also listed as Political Science 375.

1 unit — Klick, McKendry

EC377 Economics of International Finance

Historical and economic analysis of international financial arrangements; theories of foreign exchange, balance of payments and adjustment mechanisms; alternative world monetary systems in theory and practice; proposals for monetary reform; regional and world financial organization.

Prerequisite: Economics 301; Economics 302.

1 unit — Khraiche

EC380 Directed Readings in Economics and Business

Student readings of works selected by a faculty member on a common problem not covered directly by regular courses. Intensive research, writing, discussion, and oral reporting of ideas related to the assigned readings. Independent student work and initiative. May be taught as an extended year long course.

Prerequisite: consent of instructor & 150 (or 151 & 152), Junior standing, Economics, International Political Economy or Mathematical Economics major.

1 to 2 units

EC389 The Economics of Sports

The course will examine sports economics models. Students will apply theory to various aspects of both collegiate and professional sports. Topics include (but are not limited to) wage discrimination in sports, the economics of stadiums, alumni giving and collegiate athletics, academics and collegiate athletics, sports rights and broadcasting, and sports and gambling. (Day trips, extra expense for students.) Field trips may be included. (Not offered 2014-15).

Prerequisite: Economics 150 (or 151 & 152) & Mathematics 117.

1 unit

EC390 Advanced Topics in Economics:

Advanced Topics in Economics. Selected topics in the study of economics. Specific content and emphasis are developed by the instructor. (Topics and emphasis will relate to economic development, labor economics, macro theory, environmental economics, governmental regulation of business and similar aspects of economics.) 1 or 2 units.

Prerequisite: Economics 150 (or 151 & 152).

1 unit — Lybecker, Rask, Tiefenthaler

EC391 Advanced Topics in Business:

Selected topics in the study of business. Specific content and emphasis developed by the instructor. (Not offered 2014-15).

Prerequisite: 150 (or 151 & 152); 160.

1 unit

EC392 Advanced Topics in Mathematical Economics

Selected topics in the study of Mathematical Economics. Specific content and emphasis are developed by the instructor(s). Topics will meet the ME elective requirement for the Mathematical Economics major.

Prerequisite: consent of instructor.

1 unit — Fenn, Fullerton, de Araujo

EC403 Econometric Theory

The use of advanced statistical and mathematical techniques in the analysis of economic models

Prerequisite: Mathematics 217, Mathematics 220, Economics 301 or Economics 302.

1 unit — Fenn

EC404 Advanced Topics in Mathematical Economics

Selected topics in the study of Mathematical Economics. Specific content and emphasis are developed by the instructor(s). Topics will meet the ME elective requirement for the Mathematical Economics major.

Prerequisite: consent of instructor.

1 unit — de Araujo

EC405 Mathematical Economics of Addiction

This course provides the student with the mathematical tools to explore the economic models of addiction. The course begins by exploring static demand-side models of addiction before proceeding to their dynamic counterparts. The course will rely on journal articles that explore the demand for addictive substances such as alcohol, tobacco, marijuana, and cocaine. Also explored are models that treat gambling and sports spectatorship as addictive behaviors. A limited discussion of supply-side models is also included.

Prerequisite: consent of instructor. May also count as a course within the Microeconomic Theme.

1 unit — Fenn

EC406 Mathematical Economics of Game Theory

Game Theory offers a framework for studying strategic interactions in a wide variety of circumstances. Most economics and business courses explore the nature of choice by individuals -- be those consumers or firms or even countries. The interdependence among decision-makers is usually captured as a constraint on the activities of the individual. Game theory broadens that perspective by allowing the agent to be aware of and to interact with other agents in dynamic and complex ways. We will set up and solve strategic and sequential form games and evaluate the quality of those outcomes. We will also consider multi-player interactions under conditions of uncertainty.

Prerequisite: Economics 301, Mathematics 117 or Mathematics 217, Mathematics 129, Mathematics 220. May also count as a course within the Microeconomic Theme.

1 unit

EC407 Mathematical Economics of Growth

Exogenous and endogenous growth models and the effect of policy variables (functions) such as education, technical progress, and taxes on economic growth. Analysis of steady state equilibrium and convergence in levels and growth rates. Cross-sectional and panel data models of economic growth. (Not offered 2015-16).

Prerequisite: Economics 301, Economics 302, Mathematics 117 or Mathematics 217 or consent of instructor. May also count as a course within the Macroeconomics/International Theme.

1 unit

EC408 Econometrics

The use of statistical and mathematical techniques in the analysis of economic models. Macro and micro economic applications. and 200 or MA117, MA217 or BY220, or COI.

Prerequisite: Economics 150 (or 151 & 152); 200 (or Mathematics 117 or Biology 220) or consent of instructor.

1 unit — Fenn, Johnson, Kapuria-Foreman, Rask

EC415 Business Policy and Strategy

The role of general managers in creating and sustaining competitive advantage. Applies microeconomic principles and organization theory to study how managers position their firms in ever-changing competitive arenas, marshal scarce resources to develop competencies, and design structures that promote learning and efficient flows of knowledge and information.

Prerequisite: Economics 301; at least one of Economics 312, Economics 313, Economics 316, Economics 326 or Economics 329; Mathematics 117 or Mathematics 217 or Biology 220.

1 unit — Parco

EC420 Joint Faculty/Student Research in Economics and Business

Cooperation between advanced students and faculty on an individual basis to jointly pursue research on a selected topic. The student will be responsible for a share of the research, discussion of the findings and significance, and preparation of a paper reflecting the procedures and findings of the investigation. May be taught as an extended yearlong course.

1 unit

EC425 Advanced Topics in Business

Selected topics, with content and emphasis developed by the instructor. (Not offered 2015-16).

Prerequisite: consent of instructor and at least one 300-level elective in the Business Theme.

1 unit

EC426 Directed Readings in Business

Student readings of works selected by a faculty member on a common problem not covered directly by regular courses. Intensive research, writing, discussion, and oral reporting of ideas related to the assigned readings. Independent student work and initiative. May be taught as an extended year long course.

Prerequisite: consent of instructor; 301; 302; at least one 300-level course in Business Theme; junior standing in Economics, International Political Economy or Mathematical Economics major.

1 unit

EC428 Independent Study in Business

A project normally organized around preparation of a substantial paper or project. Proposed and carried out at student initiative, under supervision of a department faculty member, in an area in which the student has already completed basic coursework and an elective and that extends the student’s knowledge beyond regularly offered courses.

Prerequisite: consent of department by application; at least one 300-level elective in the Business Theme.

1 unit

EC430 Senior Thesis in Economics: Business Focus

Students produce original research under the personal supervision of an assigned faculty member, who normally advises no more than six thesis students.

Prerequisite: Economics 301, Economics 302, Economics 303; two electives in the Business Theme.

2 units

EC440 Independent Study in Economics and Business

A project normally organized around preparation of a substantial paper or project. Proposed and carried out at student initiative, under supervision of a department faculty member, in an area in which the student has already completed basic coursework and an elective and that extends the student's knowledge beyond regularly offered courses.

Prerequisite: consent of department by Application & Sr major in Econ, Poli Econ, or Math Ec.

.5 to 1 unit

EC455 Advanced Topics in Microeconomics

Selected topics, with content and emphasis developed by the instructor.

Prerequisite: consent of instructor and at least one 300-level elective in the Microeconomics Theme.

1 unit — Rask, Tiefenthaler

EC456 Directed Readings in Microeconomics

Student readings of works selected by a faculty member on a common problem not covered directly by regular courses. Intensive research, writing, discussion, and oral reporting of ideas related to the assigned readings. Independent student work and initiative. May be taught as an extended year long course.

Prerequisite: consent of instructor; 301; 302; at least one 300-level course in Microeconomics Theme; junior standing in Economics, International Political Economy or Mathematical Economics major.

1 unit

EC458 Independent Study in Microeconomics

A project normally organized around preparation of a substantial paper or project. Proposed and carried out at student initiative, under supervision of a department faculty member, in an area in which the student has already completed basic coursework and an elective and that extends the student’s knowledge beyond regularly offered courses.

Prerequisite: consent of department by application; at least one 300-level elective in the Microeconomics Theme.

1 unit

EC460 Senior Thesis in Economics

Microeconomics Focus. Students produce original research under the personal supervision of an assigned faculty member, who normally advises no more than six thesis students.

Prerequisite: 301; 302; 303; two electives in the Microeconomics Theme.

2 units

EC470 Seminar in International Political Economy

Students produce original research under the personal supervision of an assigned faculty member.

Prerequisite: Economics 275 or consent of instructor; International Political Economy major, senior standing.

Also listed as Political Science 470.

1 unit — Smith

EC485 Advanced Topics in Macroeconomics

Selected topics, with content and emphasis developed by the instructor.

Prerequisite: consent of instructor and at least one 300-level elective in the Microeconomics Theme.

1 unit — Kapuria-Foreman, Redmount

EC486 Directed Readings in Macroeconomics/International Economics

Student readings of works selected by a faculty member on a common problem not covered directly by regular courses. Intensive research, writing, discussion, and oral reporting of ideas related to the assigned readings. Independent student work and initiative. May be taught as an extended year long course.

Prerequisite: consent of instructor; 301; 302; at least one 300-level course in Macroeconomics/International Theme; junior standing in Economics, International Political Economy or Mathematical Economics major.

1 unit

EC488 Independent Study in Macroeconomics/International Economics

A project normally organized around preparation of a substantial paper or project. Proposed and carried out at student initiative, under supervision of a department faculty member, in an area in which the student has already completed basic coursework and an elective and that extends the student’s knowledge beyond regularly offered courses.

Prerequisite: consent of department by application; at least one 300-level elective in the Macroeconomics/International Theme.

1 unit

EC490 Senior Thesis in Economics: Macroeconomics/International Focus

Students produce original research under the personal supervision of an assigned faculty member, who normally advises no more than six thesis students.

Prerequisite: 301; 302; 303; two electives in the Macroeconomics/International Theme.

2 units

EC492 Joint Faculty/Student Research in Economics and Business

Cooperation between advanced students and faculty on an individual basis to jointly pursue research on a selected topic. The student will be responsible for a share of the research, discussion of the findings and significance, and preparation of a paper reflecting the procedures and findings of the investigation. May be taught as an extended year-long course.

Prerequisite: consent of instructor and at least one 300-level elective in the department.

1 unit

EC493 Tutorial in International Political Economy

Focuses on the economic interactions among countries as nation states to pursue their interests as well as the role of international institutions and multilateral treaties in establishing an international economic regime. Students write a substantial paper exploring some aspect of this interaction, and have considerable freedom in defining their research agenda. (Also listed as PS 470.) (Not offered 2015-16).

Prerequisite: IPE major or consent of instructor.

1 unit

EC494 Field Seminar

A travel and research opportunity on selected economics, business or political economy topics intended to provide a learning experience in an off-campus setting. Additional prerequisites determined by the instructor relevant to the selected topic. May involve additional expense $$$. Enrollment limit based on resources available for the selected topic. (Not offered 2015-16).

Prerequisite: Economics 301 or Economics 302; Mathematics 117 or Mathematics 217; consent of instructor.

.5 unit

EC496 Senior Thesis in Mathematical Economics

Students produce original research under the personal supervision of an assigned faculty member, who normally advises no more than six thesis students.

Prerequisite: Economics 301; Economics 302; Economics 303; Mathematics 217; 1 elective at 300 or 400 level; Mathematical Economics major; senior standing.

2 units

EC497 Senior Thesis in American Political Economy

Thesis in American Political Economy on approved topic. Optional for majors in American Political Economy, upon application to, and approval of, the departments of Political Science and Economics and Business. (Not offered 2015-16).

Prerequisite: consent of instructor & APE major & senior standing Must take Political Science 490 for credit.

1 to 2 units

EC498 Senior Thesis in International Political Economy

Students produce original research under the personal supervision of an assigned faculty member, who normally advises no more than six thesis students.

Prerequisite: Economics 301 or Economics 302; Economics 275 or Political Science 375; International Political Economy major; senior standing.

2 units

EC499 Senior Thesis

Thesis on approved topic of student's choice, based on elective taken at 300 or 400 level. No classes, but periodic conferences between student and supervisor.

Prerequisite: consent of instructor & 209, 207, 303 + 1 elective at 300 or 400 level, Econ major & senior standing.

1 unit — Fullerton, Johnson, Kapuria-Foreman, Rappaport