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Courses

Introductory courses (pre-major)

 

100 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.  2 units.

 

101 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. 1 unit.

 

102 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. 1 unit.

 

110 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. 1 unit.

 

Business courses (pre-major)

 

111 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.

 

112 Business and Society. An examination of the social, political and natural environment in which business operates.  1 unit.

 

115 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.

 

120 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 EC220. Credit granted only after completion of EC220. Pass/fail grade only. Prerequisite: COI. .25 unit

 

Economic applications (pre-major)

 

141 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 (EC141) or Environmental Science (EV141) (Fulfills one unit of the divisional requirement in the Social Sciences, but not in the Natural Sciences.) (Also listed as Environmental Science 141.) 1 unit.

 

142 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. .5 unit.

 

Economic theory and applications (200-level courses)

 

See the mathematics department pages for descriptions of math courses (MA 125 or MA 126; MA 117 or MA 217) required for the majors and for many courses at or above this level.

 

Theory courses

 

201 Economic Theory I. An introduction to economics (both microeconomics and macroeconomics) using calculus.  The main themes include consumer theory, producer theory and macroeconomic aggregates and models.  Prerequisite: MA 125 or MA 126 or equivalent.

 

205 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. 1 unit.

 

210 Intermediate Topics in Economics and Business. Selected topics in economics and business, completed with the use of previous knowledge of economic principles. Prerequisite: EC 201 or equivalent. 1 unit.

 

Business Theme (EC 211- EC 230)

 

220 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. Prerequisites: 120; 201 or 205. 1 unit

 

221 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. Prerequisite: 220. .25 unit

 

Microeconomics Theme (EC 241- EC 260)

 

241 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. Prerequisites: 201; MA 117. 1 unit.

 

243 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: 201.  1 unit.

 

245 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: 201. May also count as a course within the Macroeconomics/International Theme. 1 unit.

 

Macroeconomics/International Theme (EC 271- EC 290)

 

275 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: 201. (Also listed as Political Science 375.) 1 unit.

Upper-level courses

 

Theory courses

 

301 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: 201. 1 unit.

 

302 Macroeconomic Theory II. An advanced study of business cycles and economic growth models. Prerequisite: 201. 1 unit.

 

303 Econometrics. The use of statistical and mathematical techniques in the applied analysis of economic models. Macro- and micro-economic applications. Prerequisites: 301 or 302; MA 117 or MA 217 or BY 220. 1 unit.

 

304 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. Prerequisite: 303. May count as a course within the Business Theme, Microeconomics Theme or Macroeconomics/International Theme. 1 unit.

 

Business Theme (EC 311- EC 330)

 

All courses in this theme require at least EC 205 and EC 301 and EC 302, but may require more preparation.

 

312 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. Prerequisites: 201; 205; MA 117 or MA 217 or BY 220. 1 unit.

 

313 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. Prerequisites: 201; 205; MA 117 or MA 217 or BY 220. 1 unit.

 

316 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: 201; 205; MA 117 or MA 217 or BY 220. 1 unit.

 

317 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. Prerequisites: 201; 205; MA 117 or MA 217 or BY 220. 1 unit.

 

326 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. Prerequisites: 205; 301; 302; MA 117 or MA 217 or BY 220. 1 unit.

 

329 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: 205; 301; 302; MA 117 or MA 217 or BY 220. 1 unit.

 

Microeconomics Theme (EC 341- EC 360)

 

All courses in this theme require at least EC 301, but may require more preparation.

 

341 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 (EC341) or Environmental Studies (EV341) 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.) Prerequisite: Economics credit: 301; 302; Environmental Science credit: EC/EV141 and 201. (Also listed as Environmental Science 341.) May also count as a course within the Macroeconomics/International Theme. 1 unit.

 

343 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. Prerequisites: 301; 302.  1 unit.

 

344 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: 301; 302. 1 unit.

 

346 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: 301; 302; 303. May also count as a course within the Macroeconomics/International Theme. 1 unit.

 

347 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: 301; 302. May also count as a course within the Macroeconomics/International Theme. 1 unit.

 

348 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. Prerequisite: 301; 302.  May also count as a course within the Macroeconomics/International Theme. 1 unit.

 

350 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. Prerequisite: 301, 303. 1 unit.

 

351 The Economics of Immigration. An examination of consequences for home and host countries of the individual/family decision to migrate. Prerequisites: COI or 301; 302; 303.  May also count as a course within the Macroeconomics/International Theme. 1 unit.

 

352 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. Prerequisite: 301. 1 unit.

 

Macroeconomics/International Theme (EC 371 - EC 390)

 

All courses in this theme require at least EC 302, but may require more preparation.

 

371 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. Class limit is 25 in the years when there is no field trip. Prerequisite: 301; 302. 1 unit.

 

372 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. Prerequisite: 302. (Meets the Critical Perspectives: Diverse Cultures and Critiques requirement.) 1 unit.

 

373 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. Prerequisites: 301; 302.  1 unit.

 

374 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. Prerequisites: 301; 302. 1 unit.

 

377 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: 301; 302.1 unit.

 

Advanced and capstone courses

 

Theory and math-intensive courses (EC 401- EC 410)

 

403 Econometric Theory. Derivations, properties, and applications of estimators in the analysis of economic models. Prerequisites: MA 217; MA 220; EC 301 or EC 302. 1 unit.

 

 

404 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. Prerequisites: COI. 1 unit.

                Example: Advanced Topics in Econometric Theory

                Example: Advanced Topics in Macro Theory

 

405 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. May also count as a course within the Microeconomic Theme. Prerequisite: COI. 1 unit.

 

406 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.  May also count as a course within the Microeconomics Theme. Prerequisites: 301; MA 117 or MA 217; MA 129; MA 220. 1 unit.

 

407 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. May also count as a course within the Macroeconomics/International Theme. Prerequisites: 301; 302; MA117 or MA217; or COI. 1 unit.

 

Business Theme (EC 411- EC 430)

 

Also see courses listed elsewhere which count toward this theme (EC 211-230, 311-330).

 

415 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: 301; at least one of 312, 313, 316, 326 or 329; MA 117 or MA 217 or BY 220. 1 unit.

 

425 Advanced Topics in Business. Selected topics, with content and emphasis developed by the instructor. Prerequisite: COI and at least one 300-level elective in the Business Theme.  1 unit.

 

426 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: COI; 301; 302; at least one 300-level course in Business Theme; junior standing in Economics, International Political Economy or Mathematical Economics major. 1 unit.

 

428 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: COD by application; at least one 300-level elective in the Business Theme. 1 unit.

 

430 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. Prerequisites: 301; 302; 303; two electives in the Business Theme. 2 units.

 

Microeconomics Theme (EC 441- EC 460)

 

Also see courses listed elsewhere which count toward this theme (EC 241-260, 341-360, 405, 406).

 

455 Advanced Topics in Microeconomics. Selected topics, with content and emphasis developed by the instructor.  COI and at least one 300-level elective in the Microeconomics Theme. 1 unit.

 

example: Sports Marketing. Students will understand the fundamentals of sports marketing as applied to collegiate and professional sports. Topics include (but are not limited to): marketing the professional athlete, legal aspects of sports marketing, sport consumer behavior, pricing strategies, promotions, sales, public relations, managing sport brands, sponsorship, electronic media, and endorsements. Prerequisites: 201. 1 unit.

 

456 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: COI; 301; 302; at least one 300-level course in Microeconomics Theme; junior standing in Economics, International Political Economy or Mathematical Economics major. 1 unit.

 

458 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: COD by application; at least one 300-level elective in the Microeconomics Theme. 1 unit.

 

460 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. Prerequisites: 301; 302; 303; two electives in the Microeconomics Theme. 2 units.

 

Macroeconomics/International Theme (EC 471- EC 490)

 

Also see courses listed elsewhere which count toward this theme (EC 271-290, 345, 347, 351, 371-390, 407).

 

470 Seminar in International Political Economy. Students produce original research under the personal supervision of an assigned faculty member. Prerequisite: EC 275 or COI; International Political Economy major, senior standing. 1 unit.

 

485 Advanced Topics in Macroeconomics. Selected topics, with content and emphasis developed by the instructor.  COI and at least one 300-level elective in the Macroeconomics/International Theme. 1 unit.

 

example: Global Public Health and Economic Development. An evaluation of how health affects development and how development reciprocally affects health. This course considers differences in disease burden, examines priority-setting in a global context, and analyzes recent multilateral initiatives to promote health in developing countries. Prerequisites: 301; 302. 1 unit.

 

486 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: COI; 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.

 

488 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: COD by application; at least one 300-level elective in the Macroeconomics/International Theme. 1 unit.

 

490 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. Prerequisites: 301; 302; 303; two electives in the Macroeconomics/International Theme. 2 units.

 

Other capstone experiences

 

492 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. Prerequisites: COI and at least one 300-level elective in the department. 1 unit.

 

493 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, but have considerable freedom in defining their research agenda. (Also listed as Political Science 470.)  Prerequisite: IPE major or COI. 1 unit.

 

494 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. Prerequisites: 301 or 302; MA 117 or 217; COI.  .5 unit.

 

496 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. Prerequisites: 301; 302; 403; MA217; 1 elective at 300 or 400 level; Mathematical Economics major; senior standing. 2 units.

 

498 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. Prerequisites: 301 or 302; 275 or PS 375; International Political Economy major; senior standing. 2 units.

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 visit with the executives of high-tech telecommunications firms and the front offices of professional sports franchises to extensive one- to two-week field trips throughout the Southwest to study environmental 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.