Economics (ECO) Courses

ECONOMICS (ECO)

1998-1999 Bulletin Information

ECO 215 Principles of Microeconomics 3 cr
Functions of the price system in a market economy; roles of the households in mobilizing
resources to meet human needs. The functional and personal distribution and use of income.
Relevant problems are discussed.
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.
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-economic 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: ECO215 or
ECO300 for non-business and non-economic majors.
ECO 316 Intermediate Macroeconomics 3 cr
The nature and control of forces in a developed economy which determine levels of
employment, income and use of resources, and rate and direction of economic growth.
Prerequisite: ECO215 or ECO300 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: ECO215 or
ECO300 for non-business and non-economic 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: ECO215 or
ECO300 for non-business and non-economic 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: ECO215 or ECO300 for
non-business and non-economic majors.
ECO 323 Public Finance 3 cr
The nature, purposes, and economic effects of various types of taxes in a federated
government. Problems of tax administration, budgeting, and expenditure of tax revenues. Review
of current problems. Prerequisite: ECO215 or ECO300 for non-business and non-economic
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: ECO215 or
ECO300 for non-business and non-economic majors.
ECO 330 Current Global Economic Issues 3 cr
Application of the standard economic theory to 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: ECO215 or ECO300 for non-business and non-economic 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. Prerequisite:
ECO215, ECO216, or ECO300 for non-business and non-economic 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. Pre-requisite: ECO215 or ECO300 for non-business and
non-economic majors.
ECO 363 International Economics 3 cr
Modern international trade theory; the balance of payments and the adjustment processes;
the evolution of international economic institutions; critical analysis of current international
economic policies - trade, monetary, and regional economics organizations. Prerequisite:
ECO215 or ECO300 for non-business and non-economic majors.
ECO 371 Economic Development 3 cr
Economic development theory with stress on the roles of technology, management,
international financing, technical assistance organiza-tions, and international private investment.
Factors that control and influence the developmental process either positively or negatively. The
growth process is discussed also. Prerequisite: ECO215 or ECO300 for non-business and
non-economic 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: ECO215 or ECO300 for non-business and non-economic 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. Prerequisite: ECO215, ECO216, or
ECO300 for non-business and non-economic 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. Prerequisite: ST210, ECO215, ECO216.
ECO 490 Special Topics 3 cr
Designed to provide senior students an opportunity to study selected topics of particular
interest. Prerequisite: Permission of department chair and associate dean.
ECO 491 History of Economic Thought 3 cr
Economic ideas from the Greeks to modern times, with intensive study of the classical,
neoclassical, and contemporary schools of economic thought. Prerequisite: ECO215 or ECO300
for non-business and non-economic 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 and associate dean 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 directed study projects under the supervision of a faculty advisor.
No more than four hours of internship may be counted toward a degree in the College of
Business and Management Studies. Prerequisites: Junior or senior standing, a cumulative GPA of
2.5 or better, and approval of the department chair and associate dean following the evaluation of
a written proposal.
ECO 517 Economic Theory 3 cr
A survey of macro- and micro-economic theory with emphasis placed upon the
economics of the firm and the industry, market structures, price theory, forecasting and long-term
business planning.
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. Prerequisite: ECO517 or its equivalent.
ECO 520 Global Economic Issues for Managers 3 cr
An introduction of global economic concepts for managers of the public and private
sector; concepts covered include impact of U.S. trade policies on the global economy, foreign
exchange rates, foreign direct investment, multinational corporations, international
organiza-tions for free trade, and managerial decision-making in the changing global
environment. Prerequisite: ECO517 or its equivalent.
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 which 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.
Prerequisite: ECO517 or its equivalent.
ECO 553 Applied Econometrics 3 cr
Basics of econometrics; applications of econometric methods of business and economic
problems, and forecasting. A term paper on econometric applications is required. Prerequisites:
MGT545 or its equivalent and ECO517.
ECO 590 Special Topics 3 cr
Designed to provide graduate students an opportunity to study selected topics. (A student
may count no more than 4 hours of Special Topics in the M.B.A. degree program). Prerequisite:
permission of department chair and director of graduate studies.
ECO 594 Independent Study 3 cr
Readings and research on selected topics. Conferences and formal research report
required. Prerequisite: permission of department chair and director of graduate studies.

Department of Economics

Mitchell College of Business