Economics Minor Requirements

Department Chairperson:Akira Motomura Office: Duffy Academic Center 290 Phone: 508-565-1149amotomura@stonehill.edu

The minor in Economics requires the completion of six courses.

Complete Three Required Courses

Code Course Credits

ECO 176

Microeconomic Principles

Offered: Fall and Spring Semesters

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.

Fulfills the Social Scientific Inquiry requirement.

3

ECO 178

Macroeconomic Principles

Offered: Fall and Spring Semesters

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.

Prerequisite(s): ECO 176 or the First-Year Seminar equivalent.
Fulfills the Social Scientific Inquiry requirement.

3

ECO 301

Intermediate Microeconomics

Offered: Fall Semester

Theory of consumer behavior, the firm, product and factor markets, with emphasis on application of theory to real world problems.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)

3

Complete Three Economics Courses at the 200-Level or Higher

Code Course Credits

ECO 205

Economics of Social Issues and Public Policy

Offered: Fall Semester

Economic analysis of issues often neglected in traditional economics courses, emphasizing policies that may alleviate social problems. Topics include healthcare, education, crime, substance abuse, cigarette smoking, gambling, housing, and family issues.

Prerequisite(s): ECO 176 or the First-Year Seminar equivalent.
Course may be applied to the American Studies program.

3

ECO 206

United States Economic History

Offered: Alternate Years: Fall Semester 2018, 2020

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.

Not open to first semester students.Course may be applied to the American Studies program.

3

ECO 211

Economics of Labor Unions

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 176 and ECO 178 or their corresponding First-Year Seminar equivalents.
Course may be applied to the American Studies program.

3

ECO 217

Economic History of the 20th Century American Family

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 176 and ECO 178 or their corresponding First-Year Seminar equivalents.
Course may be applied to the American Studies program.

3

ECO 230

Development Economics

Offered: Spring Semester

Why are some countries rich and others poor? What can be done to improve living standards for the billion people living on less than $2 a day? Students will study major questions and theories of economic development, and controversies over appropriate policies and programs. Topics include poverty and inequality, education, health, foreign aid and others. Focus of the course is on empirical examination of these topics with emphasis on the latest evidence from developing countries.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents) and one Statistical Reasoning Course (ECO 241, BUS 206, CHM 331, CRM 311, EDU 301, MTH 145, MTH 207, MTH 225, MTH 396, PHY 321, POL 210, PSY 261 or SOC 311).
Course may be applied to the Asian Studies minor.

3

ECO 242

Econometrics (WID)

Offered: Spring Semester

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.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents) and completion of any statistical reasoning course.
Fulfills the general education Writing-in-the-Disciplines requirement. Course may be applied to the Data Science program.

4

ECO 244

The Economics of Sports

Offered: Spring Semester

The course analyzes the industry of sports, particularly 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 revenue; issues in college sports like conference realignment, television contracts, and eligibility rules; the economic effects of professional sports franchises and stadia; and factors affecting competitive balance.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents) and completion of any Statistical Reasoning course.
Course may be applied to the American Studies and Sports, Science & Society programs.

3

ECO 246

Forensic Economics

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents), and completion of any Statistical Reasoning course. Familiarity with spreadsheet software (such as Excel) is also strongly recommended.

3

ECO 301

Intermediate Microeconomics     (if not taken above)

Offered: Fall Semester

Theory of consumer behavior, the firm, product and factor markets, with emphasis on application of theory to real world problems.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)

3

ECO 303

Intermediate Macroeconomics     (if not taken above)

Offered: Fall and Spring Semesters

Theory of income, employment, and output; economic fluctuations, inflation, interest rates, growth, and stabilization policy.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)

3

ECO 305

Public Sector Economics

Offered: Fall Semester

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.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)
Course may be applied to the American Studies program.

3

ECO 309

Money and Banking

Offered: Fall Semester

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.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)
Course may be applied to the American Studies program.

4

ECO 311

International Economics

Offered: Spring Semester

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.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)
Course may be applied to the Asian Studies and Middle Eastern Studies programs. Course may be applied to the Latin American Studies program with permission of the Program Director.

3

ECO 316

Markets and Morality

Offered: Not Offered 2016-2017

Voluntary exchange through a market process enables individuals to coordinate the complicated but vital task of producing and distributing goods and services. Though market activities often generate socially beneficial outcomes, markets appear to lack a moral end or purpose. Using Papal Encyclicals, we will investigate how the Catholic Church has struggled with the morality of voluntary exchange through markets.

Prerequisite(s): ECO 176 or First-Year Seminar equivalent (ECO 110 , ECO 111 , or ECO 112 )
Fulfills the Catholic Intellectual Traditions and Moral Inquiry requirements.

3

ECO 317

Economics and the Law

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)

3

ECO 319

Urban and Regional Economics

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 176 or First-Year Seminar equivalent.
Course may be applied to the American Studies program.

3

ECO 321

Economics of Healthcare

Offered: Spring Semester

Economic analysis of healthcare delivery markets, physician and nurse shortages, insurance industry distortions, models of hospital behavior, demand and supply considerations, impact of market failure.

Prerequisite(s): ECO 176 or First-Year Seminar equivalent.

3

ECO 323

Labor Economics and Manpower Policy

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents.)
Course may be applied to the American Studies program.

3

ECO 327

Environmental Economics

Offered: Not Offered 2016-2017

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 is discussed.

Prerequisite(s): ECO 176 or the First-Year Seminar equivalent.

3

ECO 329

Industrial Organization

Offered: Spring Semester

Analysis of industries with varying degrees of monopoly power and influence: monopolies, cartels, oligopolies, monopolistic competition, and dominant firms. Firm strategies and likely outcomes, 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 respond.

Prerequisite(s): ECO 176 and ECO 178 (or their corresponding First-Year Seminar equivalents), and one Statistical Reasoning course.

3

ECO 337

Mathematics for Economists

Offered: Not Offered 2016-2017

Development of mathematical skills and techniques applied to problem solving in microeconomics and macroeconomics. Mathematical concepts will be explored that enhance understanding of economic theories and their applications to policy making. Of particular interest to students interested in graduate studies in economics, public policy, finance, and related fields.

Prerequisite(s): ECO 176, ECO 178 (or their corresponding First-Year Seminar equivalents) and MTH 126.

3

ECO 343

International Finance

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 176 and ECO 178 or their corresponding First-Year Seminar equivalents.
Course may be applied to the Asian Studies minor and Middle Eastern Studies minor.

3

ECO 420

Fixed Income Analysis

Offered: Not Offered 2016-2017

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.

Prerequisite(s): ECO 309 or BUS 327.

3

ECO 421

Capstone Seminar in Economic Research

Offered: Fall Semester

Students gain experience in reading and doing economic research. Students write a major research paper, provide each other and receive intermediate feedback, and present their research to the department.

Prerequisite(s): Permission of Department Chair (given during advising in spring of Junior year) and ECO 301 ,ECO 303 and Economics Statistics requirement (ECO 241 or BUS 206 or MTH 225, or MTH 396).
This course fulfills the Capstone requirement in Economics.

3

Notes

  1. ECO 475 - Internship in Economic Research, ECO 241 - Economic Statistics, MTH 125 - Calculus I and MTH 126 - Calculus II cannot be used as electives for the economics minor.
  2. No more than one study abroad courses may be counted toward the minor.
  3. Students who take both ECO 301 and ECO 303 may count the second of the two course as one of the three electives.
  4. It is recommended that Economics minors take ECO 241, BUS 206, MTH 225 or MTH 396 to fulfill their General Education Statistical Reasoning requirement.