Economics

Professor Kevin C. Klein
Assistant Professor Marilyn Markel
Instructor T. J. Devine

The courses in this discipline are intended to give an understanding of the nature, operation, and problems of the economy and modern business. They are designed to meet the needs of all students desiring a broader understanding of the economic aspects of their surroundings as well as for students planning careers in many aspects of business. The offerings of the discipline also provide pre-professional training leading to graduate study in economics, finance, management, public administration and law.

Each major in the Business Department will require a minimum of 24 additional hours of new content.

Each minor in the Business Department will require a minimum of 16 additional hours of new content.

Majors & Programs

Courses

EC 105: Principles of Economics

This course is a one-semester combination of both micro- and macro-economics. In this course, students are introduced to analysis of supply and demand, national income theory, the banking system, fiscal and monetary policy and the corresponding usage for economic stabilization, theory of the consumer, theory of the firm, and other selected microeconomic topics.

EC 245: Statistics

An introduction to the use of statistics. Topics include summary statistics, introduction to probability estimation, hypothesis testing, regression analysis, time series and non-parametric statistics.

EC 255: Quantitative Methods in Economics

Fundamentals of business calculus paired with linear statistical modeling. Topics will include differentiation, integration, constrained optimization, multiple regression analysis, OLS, multicollinearity, and heteroskedasticity.

EC 265: Economics of Entrepreneurship

This course will apply insights from economic theory to the practice of starting a new business or expanding a current business. The course will combine elements of strategy, marketing, and entrepreneurial finance courses as typically faced by all businesses. Local entrepreneurs will provide guest lectures on their entrepreneurial experiences and advice. Open to all majors. Will count as an elective in the economics major.

EC 312: Intermediate Microeconomics

Theories of consumer behavior, business firms, pricing in different market structures, input markets and welfare economics are discussed at the intermediate level.

EC 319: Game Theory

An introduction to game theory and how it can be applied in many different situations in economics, politics, law, and in everyday personal interactions. At the end of the course, students will be able to analyze and solve sophisticated games.

EC 331: Agricultural Economics

An introduction to the principles of economics including production principles; production costs, supply and revenue; profit maximization; consumption and demand; price elasticity; market price determination; and competitive versus noncompetitive market models. These principles are applied to agriculture and the role of agriculture in the United States and world economies. Other topics include a survey of the world food situation; natural, human and capital resources; commodity product marketing; and agricultural problems and policies.

EC 342: Public Finance

Institutions and theories of government finance. The nature and economic effects of present and proposed tax policies, fiscal and debt management policies and government spending.

EC 344: Development Economics

This course is an introduction to the theory of economic development. Why have some parts of the world developed economically while other parts of the world have remained underdeveloped? The purpose of this class is to develop a deeper understanding of the social, political, and economic conditions necessary to promote economic development.

EC 372: Environmental Economics

A theoretical analysis of environmental pollution generation and of suggestions for corrective policies. Emphasis is on resource allocation and the welfare and income distributional implications of public policy decisions.

EC 461: Independent Study in Economics

An individual reading or project course for advanced qualified students under the direction of a member of the department, on a subject mutually satisfactory to student and instructor. May be repeated with different subject matter for a maximum of 6 hours.

EC 462: Independent Study in Economics

An individual reading or project course for advanced qualified students under the direction of a member of the department, on a subject mutually satisfactory to student and instructor. May be repeated with different subject matter for a maximum of 6 hours.

EC 463: Internship in Economics

A practical application of theoretical skills in actual job-related situations. May be repeated for a maximum of 6 hours. Open to junior and senior majors

EC 464: Internship in Economics

A practical application of theoretical skills in actual job-related situations. May be repeated for a maximum of 6 hours. Open to junior and senior majors

EC 485: Senior Seminar

Seminar devoted to special topics of themes, with individual research by participants. This seminar is designed to make connections between overarching themes in the various journal of Economic Literature QEL) subject classifications. This is a required senior experience and is open only to economics majors.