ECONOMICS (ECO)   ECO 215 Principles of Microeconomics 3 cr Functions of the price system in a market economy; role of households and business firms in mobilizing resources to meet human needs. The functional and personal distribution and use of income. Relevant problems are discussed. Core Course.   ECO 216 Principles of Macroeconomics 3 cr Economics as a science; its nature and functions. Analysis of the American economy from the macroeconomic viewpoint, stressing full employment, monetary and fiscal policy, national income accounting, and their application to current problems and issues. Core Course.   ECO 300 Introduction to Economics 3 cr   Intensive study of micro- and macroeconomic principles with emphasis on application to current economic issues and problems of interest to public school teachers and students. Prerequisite: for non-business and non-economics majors.   ECO 315 Intermediate Microeconomics 3 cr Operation of the price system, with special reference to a market economy and to related public policies and business issues; analysis of the distribution of income; theories of consumer behavior, the firm, resource allocation, and product distribution. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 316 Intermediate Macroeconomics 3 cr The nature and control of forces in a developed economy that determine levels of employment, income and use of resources, and rate and direction of economic growth. Prerequisite: ECO 216 or 300 for non-business and non-economics majors.   ECO 318 Principles of Managerial Economics 3 cr Study of economic principles and methods in analyzing problems faced by management of a business or other type of organization; application of economic concepts to finding solutions of such problems that advance the best interest of such organizations. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 321 Economic Systems 3 cr Economic systems in leading societies and cultures are analyzed, with special reference to economic growth, full employment policies, various institutions and techniques, and the effectiveness with which they function under different systems. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 322 Industrial Structure and Public Policy 3 cr An analysis of the effect of modern industrial structure on competitive behavior and performance, in the light of contemporary price theory and the theory of workable competition; a critical evaluation of the legislative content, judicial interpretation, and economic effects of antitrust laws, current problems and proposed remedies. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 323 Public Finance 3 cr The nature, purposes, and economic effects of various types of taxes in a federal government. Problems of tax administration, budgeting, and expenditure of tax revenues. Review of current problems. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 325 State and Local Government Finance 3 cr An analysis of the facts, problems, theories, and economic policy implications of the expenditures and revenue sources of state and local governments. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 330 Current Global Economic Issues 3 cr Application of standard economic theory of markets to analyze major issues confronting U.S. consumers and businesses in the global economy. Topics include comparative advantage, commercial policy and protectionism, currency markets and foreign exchange rates, economic integration and free trade areas, international trade accounting, and financial aspects of international trade. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 340 Money and Banking 3 cr Analysis of monetary, credit, and banking institutions in the American economy, emphasizing commercial banks, the Federal Reserve System, and the Treasury. Prerequisites: ECO 215 and 216, or 300 for non-business and non-economics majors.   ECO 343 Labor Economics 3 cr United States population analyzed by age, sex, and other characteristics; study of the labor force and its composition; unemployment and underemployment. Education as an investment in productive resources. Economics of leisure, health, housing, recreation, and other areas of human-resource development. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 363 International Economics 3 cr Modern international trade theory; the balance of payments and adjustment processes; the evolution of international economic institutions; critical analysis of current international economic policies - trade, monetary, and regional economics organizations. Prerequisite: ECO 216 or 300 for non-business and non-economics majors.   ECO 371 Economic Development 3 cr Economic development theory with stress on the roles of technology, management, international financing, technical assistance organizations, and international private investment. Factors that control and influence the developmental and growth process either positively or negatively. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 372 Economics of Urban Development 3 cr The nature of urban development, with special attention to analysis of the impact of urban expansion on natural, human, and capital resources; financial and administrative problems. The role of planning and regulation. Theoretical and practical limitations to urbanization. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 383 Economic History of the United States 3 cr The evolution of the modern United States economic system. The parts played by exploitation of natural resources, investment from abroad, financial institutions, and technology in arriving at the present economic situation. Critical analysis of development just before, during and after World War II, and of current economic problems. Prerequisites: ECO 215 and 216, or 300 for non-business and non-economics majors.   ECO 453 Introduction to Econometrics 3 cr Study of regression analysis and its application to business, economics, and other social-science problems; emphasis on model building, research writing, and econometric forecasting. Students are required to write a term paper on econometric applications under direct supervision of the instructor. Prerequisites: BUS 245 or ST 210, ECO 215 and 216.   ECO 490 Special Topics 3 cr Designed to provide senior students an opportunity to study selected topics of particular interest. Prerequisite: Approval of department chair.   ECO 491 History of Economic Thought 3 cr Economic ideas from the Greeks to present, with intensive study of the classical, neoclassical, and contemporary schools of economic thought. Prerequisite: ECO 215 or 300 for non-business and non-economics majors.   ECO 494 Directed Study in Economics 3 cr Reading and research on selected economic topics under guidance of the departmental faculty. Credit and prerequisites vary with the nature and magnitude of individual projects. Prerequisites: Junior or senior standing, a cumulative GPA of 2.5 or better, and approval of the department chair following the evaluation of a written proposal.   ECO 496 Economics Internship 3 cr The internship program is designed to give students practical experience in their field of study. Students will complete projects under the supervision of a faculty advisor. No more than three hours of internship may be counted toward a degree in the Mitchell College of Business. Prerequisites: Junior or senior standing, a cumulative GPA of 2.5 or better, and approval of the department chair, following the evaluation of a written proposal.   ECO 497 MBA Economics Survey 3 cr A survey of macro- and microeconomic theory with emphasis placed upon the economics of the firm and the industry, market structures, price theory, forecasting and long-term business planning. Available only to college graduates planning to enter MBA or MAcc programs.   ECO 518 Managerial Economics 3 cr An application of microeconomic concepts to managerial decision making; concepts covered include market structure, optimization, regression modeling, global concepts, price elasticity, pricing/profit analysis, gaming analysis, antitrust laws, forecasting, and capital budgeting.   ECO 520 Global Economic Issues for Managers 3 cr An introduction to global economic concepts for managers of the public and private sector; concepts covered include impact of US trade policies on the global economy, foreign exchange rates, foreign direct investment, multinational corporations, international organizations for free trade, and managerial decision-making in the changing global environment.   ECO 521 Governmental Policy Towards Business 3 cr An examination of the rationale behind and actual effects of federal government statutes and policies in the areas of antitrust, public utilities, quasi-public utilities, and public enterprise. Particular attention is given to firm behavior in unregulated markets and the modifications of this behavior which result from governmental intervention.   ECO 532 Macroeconomic Theory 3 cr Provides the student with an understanding of the interrelated forces that determine the levels of employment, income, and rate of inflation in a free-market economy. Analyzes the theoretical basis for governmental stabilization policies, and the macro-effects of such policies.   ECO 590 Special Topics 3 cr Designed to provide graduate students an opportunity to study selected topics. (A student may count no more than 3 hours of Special Topics in the M.B.A. degree program). Prerequisite: Approval of department chair.   ECO 594 Independent Study in Economics 3 cr Readings and research on selected topics. Conferences and formal research report required. Prerequisite: Approval of department chair.   Department of Economics and Finance Mitchell College of Business