Course Code Credits

First-Year Seminar: The Undercover Economist

Economics is the study of how to get the most out of life and to help others to do so as well. Your mission, if you choose to accept it, is to develop your economic lens, seek out various mysteries that surround us, and discover both the seen and unseen. Fulfills the Cornerstone Social Scientific Inquiry Requirement, and is the equivalent to ECO 176 Microeconomic Principles. Limited to 16.

ECO111 4

First-Year Seminar: Zombie Economics: Views from Dead Economists

In this role-playing course, students will immerse themselves in the character of a well-known, dead economist and engage in the great debates in macroeconomics: what determines value, what is the role of government, etc. Students will come to know where historical figures stand on the controversial issues in economic thought. Fulfills the Cornerstone Social Scientific Inquiry Requirement, and is the equivalent to ECO 178 Macroeconomic Principles. Limited to 16.

ECO121 4

Microeconomic Principles

Economic analysis of product and resource markets. The consumption behavior of households, the price and output decisions of firms under various forms of market structure, the distribution of income. Limited to 25.

ECO176 3

Macroeconomic Principles

Descriptive, historical and theoretical treatment of the overall level of economic activity, prices and employment within the framework of American capitalism. Contributions of Smith, Ricardo, Keynes, and others. Pre-requisite: ECO 176. Limited to 25.

ECO178 3

Economics of Social Issues & Public Policy

Economic analysis of issues often neglected in traditional economics courses, emphasizing policies that may alleviate social problems. Topics include health care, education, crime, substance abuse, cigarette smoking, gambling, housing, and family issues. Pre-requisite: ECO 176. Limited to 25.

ECO205 3

United States Economic History

Basic economic analysis is used to study important aspects of the economic history of the United States. Concentration is on the period from 1830 to 1945, when the U.S. became a major industrial power. Emphasized are the development of big business, the effect of race and gender on markets, opportunities and incomes, and government policy. Open to second semester first-years, sophomores, juniors and seniors. Cross-listed with History Department as HIS 251. Limited to 24.

ECO206 3

Impact of News on Financial Markets

This course examines the impact of news on financial markets. using tools of economics, Bloomberg and financial news from the media, it examines how the financial markets in the United States and the globe behave and move in advance of the news--based on their expectations as well as in response to the news. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO210 3

Economics of Labor Unions

Examines the historical and current role of organized labor in the U.S. and its impact on employment, wages, prices, and trade. Additional topics include collective bargaining, labor market discrimination, and the globalization of production. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO211 3

Economic History of the 20th Century American Family

The course traces the socioeconomic progress of a variety of American families over the century. Changes in real income, employment conditions, labor force participation, education, residence, and family life are examined within the context of larger economic, political, and social events such as immigration, war, depression, the labor movement, civil rights, and women's rights. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO217 3

History of the World Economic Development

The world has experienced an extraordinary but unevenly distributed increase in material living standards over the last 250 years. This course examines major developments, issues, and controversies related to long run economic development and change. Themes include the causes of technological leadership, the connection between technological change and business structure, and the spread of industry. Open to second semester first-years, sophomores, juniors and seniors. Cross-listed with History Department as HIS 219. Limited to 25.

ECO219 3

Economics Statistics

Descriptive statistics; probability; probability distributions; expected values; the binomial distribution; the normal distribution; sampling and sampling distributions; statistical inference - estimation and hypothesis testing; index numbers. Limited to 25.

ECO241 3


Is secondary smoke harmful? Learn econometrics to appropriately answer questions like this. The theory and application of multivariate regression analysis. We concentrate on problems of estimation and hypothesis testing of the direction and magnitude of possible causal relationships among variables. We use STATA econometrics software. Pre-requisites: ECO 176 and ECO 178 and ECO 241. Limited to 25.

ECO242 3

The Economics of Sports

The course analyzes the industry of sports, especially professional and big-time college sports, using and developing tools of economic analysis, mainly microeconomics. Topics include the salary structure of professional team sports and the effects of free agency; the factors affecting sports attendance; the value of sports programming to broadcasters, and the effect of television revenues; the effect of the NCAA on television contracts and student-athlete choices; the economic effects of professional sports franchises and stadia. Pre-requisites: ECO 176 and ECO 178 and statistics background required. Limited to 24.

ECO244 3

Forensic Economics

Forensic Economics is the study of the contributions made by economists in providing expert opinions related to the measurement of economic damages in a vast array of legal dilemmas and circumstances. Such circumstances include the wrongful death associated with medical malpractice, discrimination and wrongful termination, catastrophic personal injuries, and others. This course provides students with an opportunity to "do economics" by incorporating active learning techniques associated with the functions of the forensic economist. Pre-requisites: ECO 176 and ECO 178, and statistics from any discipline. Familiarity with spreadsheet software (such as Excel) is also strongly recommended. Limited to 25.

ECO246 3

Intermediate Microeconomics

Theory of consumer behavior, the firm, product and factor markets, with emphasis on application of theory to real world problems. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO301 3

Intermediate Macroeconomics

Theory of income, employment, and output; economic fluctuations, inflation, interest rates, growth, and stabilization policy. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO303 3

Public Sector Economics

Theoretical and empirical microeconomic analysis of government policy with respect to the efficient allocation of resources and the equitable distribution of income. Learn how appropriately chosen government policy enhances (rather than hinders) efficiency and equity in our society. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO305 3

Money & Banking

Analysis of the operation of financial markets and financial institutions focusing on financial intermediaries including commercial banks, investment banks and the central bank. Examines the structure and performance of the bond and stock markets, derivatives, and other financial instruments. Extensive use current market information prepares students with the real-world knowledge and experience necessary for careers in the financial world. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO309 3

International Economics

This course covers the major themes of the theory of international trade. The gains from trade, tariff and non-tariff barriers to trade, the theories of international trade such as the theory of absolute and comparative advantage and the Heckscher-Ohlin theory will be studied. The justifications for trade protection, its effects on the economy, historical and contemporary U.S. trade policy and the economics of regional trade agreements will also be discussed. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO311 3

Economics & the Law

Focus on how an understanding of the law is furthered by an awareness of the economic background against which it operates. The course draws from economic principles developing concepts such as efficiency, property rights, regulation and income distribution. Applications of these ideas include crime, discrimination, health, the environment, professional sports, gun control, and the legal services industry. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO317 3

Urban & Regional Economics

Economic analysis of urban and regional dynamics, especially changing population and business location factors. Examines the problems of modern cities, e.g., housing, transportation, education, crime, and the cost of providing municipal services. Pre-requisite: ECO 176. Limited to 25.

ECO319 3

Economics of Healthcare

Economic analysis of Healthcare delivery markets, physician and nurse shortages, insurance industry distortions, models of hospital behavior, demand and supply considerations, and the impact of market failure. Cross-listed with the Healthcare Administration Department as HCA 321. Pre-requisite: ECO 176. Limited to 25.

ECO321 3

Labor Economics and Manpower Policy

Economic analysis of labor markets, supply and demand considerations, labor force participation, wage determination models, discrimination theories, unemployment, manpower planning programs, and other public policies. Pre-requisites: ECO 176 and ECO 178. Limited to 25.

ECO323 3

Environmental Economics

Topics in natural resource and energy economics and environmental regulation, include the allocation, development, conservation, and scarcity of natural resources. We study pollution control through taxes, quotas and standards using cost-benefit models as a policy guide. Types of energy resources, substitutability, conversion and the relevance of energy to economic growth will be discussed. Pre-requisite: ECO 176. Limited to 25.

ECO327 3

Industrial Organization

Analysis of industries with varying degree of monopoly power and influence: monopolies, cartels, oligopolies, and monopolistic competition. Firm strategies, under both collusive arrangements and competitive pressures. Policy implications like antitrust and regulation. Effects of asymmetrically held information-how parties with information try to use it, those lacking information try to make up for it. Pre-requisites: ECO 176 and ECO 178 and statistics background required. Limited to 25.

ECO329 3

International Finance

Different aspects of the international financial markets, international trade, and balance of payments are studied by using analytical models of an open economy. This course examines the structure and the performance of the foreign exchange market through an extensive use of the Bloomberg technology. Using Bloomberg, students learn the interactions between economic news, global financial markets and exchange rates. Particular emphasis is placed on current issues related to the global financial crisis, international monetary system, the European Union and The European Bank. Other topics include money and financial management for international corporations, interest and commodity arbitrage, spot and forward currency markets. Bloomberg Financial Terminals and Bridge Telerate are used in the course in order to give students a more hands-on knowledge of the international financial markets. Pre-requisites: ECO 176 and ECO 178. Cannot receive credit for both BUS 425 and ECO 343. Limited to 25.

ECO343 3

Portfolio Management

This course is for students interested in pursuing careers in the investment world. It provides them with the necessary tools to obtain positions in portfolio management, investment banking, and money management of mutual funds, retirement assets, pension funds, and banks' trusts. Topics include risk/return strategies, optimal portfolio theory, the Capital Asset Pricing Model, fixed-income portfolio management, options markets, option valuation, and futures and swaps. Bloomberg Financial Terminals and Bridge Telerate are used extensively in the course, as they are in the financial community. This simulates the interaction between markets, and creates a virtual trading investment opportunity. Familiarity with this real-world tool prepares students for the jobs mentioned above. Pre-requisites: ECO 303 or ECO 309. Cannot receive credit for both BUS 327 and ECO 401.

ECO401 3

Fixed Income Analysis

This course covers valuation and portfolio management techniques for fixed income securities. Major topics include: the term of structure or interest rates; the measurement and management of price volatility using duration and immunization; credit risk embedded options and option-adjusted spreads; mortgages and prepayments risk; and international bond portfolios. Pre-requisites: ECO 309 or BUS 327 or permission of the instructor. Limited to 25.

ECO420 3

Seminar in Economic Research

Capstone seminar for Economics majors. Major works of economic history are studied to better understand the field's major narratives and methodology. Students write a major research paper, provide each other feedback, and present their research to the department. Pre-requisites: ECO 241 (or any statistics background) and ECO 301 and ECO 303. Open to senior Economics majors. Limited to 12.

ECO421 3

Economic Honors Thesis I

Thesis-writing seniors in the economics Honor Program are required to consult with a faculty advisor and to begin research for a thesis. This requires a minimum of a well-developed topic, comprehensive review of the literature and evidence that sufficient data is available to conduct empirical work, as demonstrated in writing and through an oral presentation to the economics faculty, Consult "Departmental Honors Program" section for more detail. Open to seniors who have been accepted into the Economics Honors Program. Permission of Department Chair.

ECO449 3

Internship in Economic Research

Students work at a business or government organization (sponsor) under the supervision of both a faculty member and the sponsor. The field of study and sponsoring organization is specific to the student's interest and must be acceptable by the advising faculty member and Department Chair. In the past, students have worked in a wide variety of fields including brokerage firms, state and local government agencies, private banks, and consulting organizations. The student's main academic requirement is to successfully complete a detailed paper describing the connection between their internship responsibilities and economic theory and quantitative techniques. Minimum GPA of a 3.0 required. Limited to 10.

ECO475 3

Directed Study

Investigation in some field for which the student has special interest not covered by a normally-scheduled course. Student must present plans in advance of pre-registration to some full-time faculty member who will agree to direct and evaluate the project. Students must obtain the signature of this faculty member and of the Department Chair.

ECO490 3

Independent Research

Permission of the Faculty member directing the project and the Department Chairperson.

ECO496 3