Economics Minor

A survey of the scope and methods of the study of economics; the principles underlying the production, exchange, distribution and consumption of wealth; and various economic problems. The systematic investigation of the market structure of American capitalism, encompassing the production and distribution of income, welfare economics and current domestic problems.

An introduction to specific aspects of the economy such as households, firms and markets. The investigation of supply and demand in the product market, the perfectly competitive market, monopoly and imperfect competition and the role of government in private economy. Attention will be given to economic challenges of the future.

This course is a survey of the history of economic thought from 1600 to 2000, focusing on primary works and discussion of their historical context. Major authors covered include Smith, Marx, Marshall, and Keynes. Specific policy areas surveyed include internal improvements, money and banking, tariffs, trade, antitrust, and regulation. Recommended Prerequisite: ECO 201.

This course teaches descriptive statistics, probability, random variables and their distributions, sampling, statistical inference including confidence interval estimation, hypothesis testing, game theory, and regression analysis. Prerequisites: ECO 201, 202 and MTH 221.

This course is an overview of financial markets and institutions, including stock and bond markets, money markets, derivatives, financial intermediaries, monetary policy, and international currency markets. Prerequisite: ECO 201.

This course uses principals of economic and statistical analysis in management decision making and practical problem solving; demand evaluation and sales forecasting; cost and profitability analysis; pricing policy; extensive use of case studies. Prerequisites: ECO 321 and FIN 321.

This course uses economic methodology to evaluate important social policy issues in the U.S., focusing on the role of government in shaping social policy and its impact on individuals. Students will complete an in-depth economic evaluation on one of the following three choices:

1. Environmental and Natural Resource Economics: Economic causes of environmental degradation and natural resource depletion; benefit-cost analyses of public policies for environmental protection and natural resource preservation; specific issues in energy and wilderness resource management, air and water pollution abatement, and solid waste management.
2. The Economics of Health: Examination of demand and supply for medical personnel; analysis of hospital cost, inflation, and health insurance. Discussion of issues in cost benefit analysis of public health and regulation of health care markets.
3. Economics of Education: Analyze the relationship between education and the economy examining the economic impact of human capital investment, the production of education, the returns to education, education and the labor market, financing education (using public or private resources), and school choice and education outcomes (student achievement, premature completion).

Prerequisites: ECO 201 and 202.

Overview of environmental law on business organizations and their behavior with an emphasis on state and federal statutory and case law dealing with analysis of environmental impacts, control of air and water pollution, regulation of toxic substances, and preservation of natural areas, habitats and endangered species. Special emphasis on the impact of various governmental policies and environmental laws on industry, business, real estate development, and conservation programs. Prerequisite BUS 201, 251, ECO 201 or 202.