Economics (ECON)

ECON 100  Introduction to Economics  (3 credits)

Restriction(s): Not open to Economics majors. May not be taken after ECON 101 and/or ECON 102. Major objectives and features of the American economy, including operations of a market economy, structure and function of business, money and banking, government and business relations. For non-majors only. Meets Gen Ed - Social Science Perspectives.

ECON 101  Applied Macroeconomics  (3 credits)

The course introduces undergraduate students to the macro economy of the United States of America. Students learn how to apply the mechanism needed for the achievement of an optimal allocation of resources, price stability, full employment level of national income and long-term growth. In addition, they learn to analyze the macroeconomic data and the implications of fiscal and monetary policies. Meets Gen Ed - Social Science Perspectives.

ECON 102  Applied Microeconomics  (3 credits)

In this course, undergraduate students will learn about the organization and operation of the American economy for the production and distribution of goods and services. Students learn the mechanism behind the pricing of products and factors of production in market situations varying from competition to monopoly. In addition, they learn to analyze microeconomic data and apply the abstract theoretical models into real life situations. Meets Gen Ed - Interdisciplinary Studies.

ECON 201  Data Analysis Tools in Economics and Business  (3 credits)

Prerequisite(s): WRIT 105 or HONP 100. This course will introduce the application of commonly used problem-solving softwares in Economics and Business. Students will learn various data analysis features of Excel. Students will be guided to complete “Bloomberg Market Concepts”, a self-paced e-learning course that provides introduction to the financial markets, and obtain a completion certificate. Lastly, students will be acquainted with the knowledge and skills to perform basic data analysis using the statistical programming language R or similar. Equivalent course ECON 410 effective through Fall 2020.

ECON 202  Economics and Finance for Non-Business Majors  (3 credits)

Prerequisite(s): ECON 101 or ECON 102 or department approval. Restriction(s): Not for Economics major or Business Administration major or Accounting major. This comprehensive course maintains a reasonable balance between the disciplines of economics and finance. It includes micro and macroeconomics as well as selected topics in finance. Economics underlines how market and non-market institutions can best allocate relatively scarce resources to promote individual and social welfare. Among other topics, students learn how one can measure in a precise way the responsiveness of the quantities bought and sold to changes in prices and other influences on buyers and sellers. They also explore how market economies operate by first working through the perfectly competitive model then turning to noncompetitive market structures. The finance portion of the course provides students with a basic professional background in both corporate finance and investment. They are exposed to the fundamentals of discounted cash flows valuations after they have been introduced to the time value of money in the most general sense. They also learn how to value major sources of financing for corporations such as bonds and stocks. This leads them to consider the most important techniques used by a firm to analyze possible investments to decide which ones are worth undertaking.

ECON 203  Fundamental Mathematics for Economics  (3 credits)

Prerequisite(s): ECON 101, ECON 102, or Department Approval. Modern economics stands on mathematical foundations. From corporate economists, to policymakers, to academics, math is the language of specialists on economic matters. The scaffolding of theories and the need for accounting for uncertainty at every turn of the economic realm (e.g. insurance, financial markets, forecasting) lead to some specific areas of mathematics as the tool kit of choice. This course is designed specifically for Economics major to equip the students with a comprehensive set of quantitative skills required in Economics. The course will review topics in Algebra, Calculus, and Statistics. Empirical applications with Excel is integrated throughout the course.

ECON 205  Collective Bargaining: Theory and Practice  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. The development of collective bargaining in the United States and an analysis of the factors that account for present practices. The impact of collective bargaining on contemporary American life. Work in field.

ECON 206  Managerial Economics  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. The application of economic theory in the decision-making processes of the firm; utilization of economic analysis in the study of demand, costs, pricing and capital investment decisions.

ECON 207  Intermediate Microeconomic Analysis  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. The basic determinants of market demand. Input-output relationships in determining cost structure. Determination of prices received by resource owners in the productive process. Theory of the firm and pricing in different types of market organization with varying degrees of competitive conditions.

ECON 208  Intermediate Macroeconomic Analysis  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. The factors comprising aggregate demand and how they interact to determine the level of employment, output and the price level; the role of monetary and fiscal policy.

ECON 213  Economic History of the United States  (3 credits)

Evolution of economic institutions with emphasis on development of domestic and foreign markets, technological changes and industrial growth. Analysis and interpretation of cyclical changes. Mutually Exclusive with HIST 213.

ECON 215  The Economics of Social Problems  (3 credits)

The extent, causes and consequences of poverty, inequality and insecurity. An appraisal of reforms, social insurance, medical care, public housing, rural development. The economics of discrimination and educational opportunity. Meets World Cultures Requirement.

ECON 221  Economics of Professional Sports  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. This course applies economic analysis to the professional sports industry under alternative institutional structures. The course addresses the structure and conduct of various sports markets in terms of the relationship between economic theory and evolving public policy alternatives.

ECON 222  Economic History of Europe  (3 credits)

The economic life and development of Europe from the Middle Ages to the present, emphasizing the period from about 1750; economic causes that underlie the dislocations and perplexities of the 19th and 20th centuries. Mutually Exclusive with HIST 222.

ECON 223  Economics of Fine and Performing Arts  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. This course applies economic analysis to various aspects of the fine and performing arts field. It includes an examination of theater economics, museum economics, and cinema economics, based on microeconomic theory of decisions as it applies to for-profit and non-profit institutions.

ECON 224  Financial Economics  (3 credits)

Prerequisite(s): ECON 101 and ECON 102 and INFO 173 or departmental approval. Restriction(s): Not open to Accounting or Business Administration majors. This course is designed to introduce majors in economics and students throughout the wider University to the elements of modern finance in general, and the principles of investments and corporate finance, in particular. Major areas of focus in this course include interest rate, bond valuation, risk, risk adjusted rate of return, and asset pricing in the equity markets. The overall goal of the course is to allow students to explore how rational investors apply decision theory to the problem of investment under uncertainty.

ECON 240  Economics of Time and Mind  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. This course will explore the nature of decision making from the perspective of time, mind and spirit as economic resources, used to produce goods and experiences that generate well-being. Topics to be covered include: holistic approaches to economic choice, the distinction between external and internal environments, exogenous vs. endogenous constraints, elements of behavioral economics, the three roles of time in decision-making, the impact of finite cognitive capacity on determining optimal behaviors, optimization when there are transition and transformation costs, and the role of endogenous constraints and preferences in expressing moral and spiritual identity.

ECON 250  Special Topics in Economics  (3,6 credits)

Restriction(s): Major within School of Business. An in-depth study of a particular theoretical or applied area of economics. May be repeated twice for a maximum of 9 credits as long as the topic is different.

ECON 300  World Resources and Industries  (3 credits)

Prerequisite(s): ECON 101 or EAES 161 or EAES 170. Restriction(s): Major within School of Business. Distribution, flow and consumption of mineral resources. Political, economic and social implications of the geography of resources. Basic studies in industrial location, agricultural land use, problems of economic development and population-resource ratios. Examines world trend in production controls and market allocations.

ECON 301  Money and Banking  (3 credits)

Prerequisite(s): ECON 208 for ECON majors; ECON 101 and INFO 240. Restriction(s): For all Business majors; or departmental approval. An analysis of the economic role of money and credit in our economy with primary emphasis on federal reserve and treasury operations. Special fee.

ECON 303  Economic Growth and Development  (3 credits)

Prerequisite(s): ECON 207. Restriction(s): Major within School of Business. Problems of hastening the growth of countries with low incomes per person; the requisites for the economic development, the obstacles to such development, the strategy and tactics of development and aid for development.

ECON 304  Public Policies Toward Business  (3 credits)

Prerequisite(s): ECON 207 or ECON 206. Restriction(s): Major within School of Business. The economic organization of particular American industries. U.S. policy toward competition, monopoly and bigness in business. Government control of public utilities, transportation, radio and television broadcasting.

ECON 308  Public Finance  (3 credits)

Prerequisite(s): ECON 207 or ECON 206. Restriction(s): Major within School of Business. The impact of governmental expenditures, taxes and debt operation on resource allocation, income distribution, economic stabilization and economic growth.

ECON 310  Urban and Regional Economics  (3 credits)

Prerequisite(s): REAL 204 or ECON 206 or ECON 207. Restriction(s): Major within School of Business. This course studies urban economies and how they developed with respect to the regional and national economy via the underlying forces operating within urban economics such as land-use patterns, public and private sector involvement, housing, poverty, transportation, and education.

ECON 311  Labor Economics  (3 credits)

Prerequisite(s): ECON 207 or ECON 206. Restriction(s): Major within School of Business. The determinants of wages in the organized and unorganized markets; a historical survey and analysis of the principal institutions and central processes in the labor and manpower areas; an examination of current issues in labor relations.

ECON 314  Development of Economic Thought  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. Broadening and improving the command of modern economic theory by examining the outstanding contributors to economic thought over the past two centuries.

ECON 317  Quantitative Methods for Economics  (3 credits)

Prerequisite(s): For Economics majors: ECON 203; and ECON 206 or ECON 207 with a grade of C- or better; and ECON 208 with a grade of C- or better; For all other majors/minors: ECON 203; and ECON 206 or ECON 207 with departmental approval; and ECON 208 with departmental approval. Restriction(s): Major or Minor within the Feliciano School of Business. The principal objective of this course is to gain facility in applying mathematical techniques to economic analysis. The course will introduce students to the elementary concepts of mathematics commonly used in economics. It will describe the formulation of economic theory in mathematical language. Students will learn the optimization techniques and their applications in economic models.

ECON 320  Latin American Environments and Economies in a Global Framework  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. This course is structured to focus on the interactions of the physical world with economic, financial, commercial activities in a global perspective. Environment and economics serve as thematic threads to develop dynamic models that are representative of regional -- and increasingly -- global linkages.

ECON 324  Capital Markets and Financial Institutions  (3 credits)

Prerequisite(s): ECON 224. Restriction(s): Major and minor within School of Business. In this course, students will learn the application of economic theory to understand the behavior of investors under uncertainty. Major areas of focus include determinants of the level of interest rate, return distributions and risk measures, capital market theory, Macroeconomic and Industry Analysis.

ECON 352  Economic Relations in Latin America  (3 credits)

Prerequisite(s): INBS 250 or LALS 201. Restriction(s): Major within School of Business, Spanish and International Business Minor, Latin American and Latino Studies Minor. In the context of global trade and investment initiatives, the course focuses on the motivation and gains from the operating regional trade agreements in the Western Hemisphere. Critical analysis of the North American Free Trade Agreement (NAFTA), the Central American Common Market (CACM), the Caribbean Community (CARICOM), the Andean Community (AC), and the Common Market of the South (MERCOSUR) receive special attention in this course. New initiatives in bilateral and multilateral trade agreements and their significance for global integration of Latin America are also highlighted in this course. Equivalent course INBS 352 effective through Summer 2019.

ECON 358  Finance in Latin America  (3 credits)

Prerequisite(s): INBS 250. Restriction(s): Major within School of Business, Spanish and International Business minor. This course is designed to provide a framework coupled with a "hands-on" approach relating to investments and overall exposure to Latin America economies. The perspective is that of the financial manager, responsible for real investments in the Latin America economies as well as investment managers, responsible for investment portfolios in the markets of these economies. This course also discusses several outstanding problems of Latin America economies including foreign exchange risk, political risk, and country risk. Equivalent course INBS 358 effective through Summer 2019.

ECON 370  International Economics  (3 credits)

Prerequisite(s): ECON 207 or ECON 208 or INBS 250. Restriction(s): Major within School of Business This course is designed to introduce students to economic globalization and the resulting integrated world in general, and principles and policies guiding flows of trade and investment in particular. The major areas of focus include trends in international trade and investment, causes and effect of trade and investment flows, multilateral institutions and world trading system, political economy of trade and investment policies, international payment accounts, multinational enterprises and foreign direct investment, exchange rate determination, and international policy coordination. (Students completing this course will not be able to take ECON 371 as an elective.)

ECON 371  World Trade and Investment  (3 credits)

Prerequisite(s): INBS 250. Restriction(s): Major within School of Business. A comprehensive overview of economic approaches to trade and investment in the global economy. The topics covered include trends in international trade and investment, causes and effect of trade and investment flows, multilateral institutions and world trading system, political economy of trade and investment policies, international payment accounts, multinational enterprises and foreign direct investment exchange rate determination, and international policy coordination. Equivalent course INBS 370 effective through Summer 2019.

ECON 390  Applied Econometrics  (3 credits)

Prerequisite(s): ECON 101 and ECON 102; and ECON 203 for Economics majors or INFO 240 for others. Restriction(s): Major within School of Business. The objective of the course is to provide a comprehensive introduction to quantitative techniques that are useful to analyze economic and financial data. The goal is to enable students to competently apply the methods and to assess the empirical validity of the assumptions to conduct inference. The course will discuss concepts from probability and statistics, estimation and inference in the multiple linear regression model, and functional forms. Several applications will be discussed in class to demonstrate the relevance of these techniques to economics. “RStudio” or similar software packages will be integrated into all topics. Equivalent course ECON 420 effective through Summer 2020.

ECON 398  Economics Independent Study  (1-3 credits)

Prerequisite(s): ECON 207 and ECON 208. Independent study for juniors and seniors who have developed a special interest as a result of work in a course or who wish to develop their interest through their own guided reading. A member of the Economics Department guides the student in his/her research and reading. May be repeated five times for a maximum of 15 credits as long as the topic is different.

ECON 403  Comparative Economic Systems  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business, Russian Area Studies Minor. The economic systems of planned and mixed economies with special emphasis on the Soviet Union, China, the United Kingdom, the Scandinavian countries and the United States.

ECON 404  Interdependence in the Global Economy  (3 credits)

Prerequisite(s): ECON 370. Restriction(s): Major within School of Business. This course is a one semester introduction to the challenges and opportunities created by the increasing interdependence in the world economy. The emphasis is on empirical explorations of the implications of the core theories of international trade and finance for the U.S. consumer, entrepreneur and policymaker. In addition, some of the current economic issues flowing from our global linkages are examined with a view to assessing the propriety of the fiscal and monetary response.

ECON 405  Economic Development of Sub-Saharan Africa  (3 credits)

Prerequisite(s): ECON 203 and 207. Restriction(s): Major within School of Business, African-American Studies minor. An examination of economic policies in Africa as they affect prospects for growth and development of the region. Students will engage in a variety of research projects that combine theory with analytical tools to derive policy-relevant findings. Meets World Cultures Requirement.

ECON 407  Economics of Industrial Organization  (3 credits)

Prerequisite(s): ECON 207 or ECON 206. Restriction(s): Major within School of Business. The causes and effects of structure, size and concentration on competition and market prices.

ECON 408  Strategic Thinking and Game Theory  (3 credits)

Prerequisite(s): ECON 102; and ECON 317 for economics major or INFO 300 for business major or MATH 320 for mathematics major or CSIT 355 for computer science or information technology major, or PSYC 301 or PSYC 314 for psychology major or cognitive science minor; or departmental approval. This course is an introduction to strategic thinking and game theory. It describes the procedure of decision making in situations where the outcomes depend on the actions of several decision makers. The concept of Nash equilibrium is developed in situations with perfect or imperfect information, emphasizing its application in business and politics.

ECON 409  Economics of National Security  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. This course applies economic analysis to basic dimensions of national security under alternative institutional structures. The course addresses political, economic, financial, and environmental issues, and includes and analysis of recent innovations in risk management as they apply to the economics of national security in a variety of policy settings.

ECON 412  Business Forecasting and Analytics  (3 credits)

Prerequisite(s): ECON 208 and ECON 390. Restriction(s): Major within School of Business. The course provides a comprehensive introduction to various forecasting methods (i.e. linear regression, exponential smoothing, and dynamic regression models) that will enable students to use them sensibly to predict the course of future economic and business activities. Particularly, the course will be concerned with visualizing, summarizing, and forecasting future data using R Studio or any other similar statistical package. Equivalent course ECON 312 effective through Fall 2020.

ECON 414  Economics of Natural Resources and Global Warming  (3 credits)

Prerequisite(s): ECON 101 and ECON 102. Restriction(s): Major within School of Business. This course links economic analysis of the technology and economics of natural resources to global warming. The focus is on the structure of domestic and international natural resource markets, how pricing is derived, and how utilization of natural resources is related to patterns of global warming.

ECON 419  Economics Of Energy And Environmental Policy  (3 credits)

Prerequisite(s): ECON 207 or ECON 206. Restriction(s): Major within School of Business. An examination of the economic, technological, and environmental dimensions of energy policy choices. Emphasis is given to the linkages among various economic models, elementary principles of energy storage and conversion, and specific energy technologies as they apply to past and current energy policy alternatives.

ECON 422  Globalization and World Development  (3 credits)

Prerequisite(s): FINC 327 or ECON 370 or ECON 371. Restriction(s): Major within School of Business. In-depth analysis of current issues faced by developing countries in a continuously integrating world. Analyzes the effect of international trade and international financial markets on a country's development path and changes within. Highlights the role of industrialized nations and multilateral institutions in world development. Equivalent course INBS 420 effective through Summer 2019.

ECON 430  International Macroeconomic Policy  (3 credits)

Prerequisite(s): ECON 370 or departmental approval. This course deals with macroeconomic policies in an international economy. It begins with examining the effects of exchange rate changes on the nation's current account and then extends the analysis to the impact created on the economy as a whole. In addition, the course introduces students to the policy mix used in the United States and the European Union to achieve internal and external balance. May be repeated for a maximum of 9 credits.

ECON 432  International Financial Markets and Investment  (3 credits)

Prerequisite(s): FINC 327 or ECON 370 or ECON 371. Restriction(s): Major within School of Business. This course focuses on the current developments and market structure of major international financial markets such as Euro currency, global bond, Euro credit and global equity markets as well as the risks and investment opportunities faced by business operating in these markets. Equivalent course INBS 430 effective through Summer 2019.

ECON 438  Advanced Seminar in Economics  (3 credits)

Prerequisite(s): ECON 206 or ECON 207; and ECON 208 and ECON 317 and INFO 240. Restriction(s): Seniors only; Economics, Economics w/conc: Business Economics and Business Administration w/conc: Economics majors only. A seminar designed to integrate economic theory, quantitative tools, and institutional knowledge in a series of applied issues. Students are required to undertake a number of specific oral and written projects that describe their understanding of key elements within the discipline. This course serves as a capstone for Economics students. Meets the Graduation Writing Requirement for majors in Economics and Business Administration with a concentration in Economics.

ECON 439  Advanced Seminar in Economics: Honors I  (3 credits)

Prerequisite(s): Departmental approval. Restriction(s): Major within School of Business. Define the scope and methodology of the honor project through the presentation of a thesis prospectus. This process will involve preparation of a review of the relevant research literature, specification of an appropriate research methodology, gathering and testing of preliminary data where appropriate, as well as submission of the thesis prospectus to the departmental honors committee.

ECON 440  Advanced Seminar in Economics: Honors II  (3 credits)

Prerequisite(s): ECON 439. Restriction(s): Major within School of Business. Student will complete all appropriate quantitative and qualitative analysis of Seminar in Economics Honors I as well as prepare a summary and interpretation of their findings. Through discussion of findings, faculty and student will make suggestions for any additional analysis or revisions to be undertaken.

ECON 461  Seminar in International Economic Geography  (3 credits)

Prerequisite(s): ECON 101 or ECON 102. Restriction(s): Major within School of Business. An interdisciplinary seminar focusing the techniques of economics and geography on a common theme to achieve a synergistic conclusion.

ECON 490  Real Estate Internship  (3 credits)

Prerequisite(s): REAL 305. Restriction(s): Major within School of Business. This course provides students with professional work experience before completing their concentration degree. The Real Estate Co-Op course enables students to apply their knowledge from various real estate courses in the areas of verbal and written communication, critical thinking, self directed learning, career readiness, decision-making, technology awareness, leadership and social responsibilities.

ECON 497  Economics Independent Study  (3 credits)

Prerequisite(s): ECON 207 and ECON 208. Restriction(s): Major within School of Business. Open to students who wish to undertake reading and/or research in specialized areas of economics. May be repeated five times for a maximum of 18 credits as long as the topic is different.

ECON 501  Economic Analysis  (3 credits)

Restriction(s): MBA degree students, MA Environmental Studies majors with concentration in Environmental Management, PhD Environmental Science and Management. Director approval. The resource allocation and distribution of income implications of a market-oriented economy operating under various degrees of competition. Also analyzed are the determinants of consumer and market demand and the theoretical cost structure of firms.

ECON 505  Aggregate Economics  (3 credits)

Restriction(s): MBA degree students, MA Environmental Studies majors with concentration in Environmental Management, PhD Environmental Science and Management. Director approval. This course develops contemporary macroeconomic theories to explain aggregate employment, national income and the levels of interest rates and prices. Along with developing various models the course examines current research and reviews the economy's recent macroeconomic performance.

ECON 510  Urban Economics: Problems and Policy  (3 credits)

Prerequisite(s): ECON 501. This course studies the location of economic activities, the growth of cities and the origins of some urban problems in a market economy. Also discussed are the problems of location and congestion due to agglomeration and non-market phenomena.

ECON 521  Applied Econometrics  (3 credits)

Prerequisite(s): Departmental approval. This course is aimed at applied research using econometric techniques. This course will provide the necessary theoretical and practical aspects of econometrics. In addition, students will be required to complete a working paper as a demonstration of their ability to gather data, choose and apply an appropriate econometrics model and finally prepare their findings.

ECON 530  Microeconomics for Managers  (1.5 credit)

This course is an introduction to the principles of microeconomics. Topics include: economics of scarcity and choice, marginal analysis and economic efficiency, elasticity of demand and supply, utility maximization and firm's profit maximization under various market structures. Using these tools will allow students to understand and critically evaluate real world circumstances and events.

ECON 531  Macroeconomics for Managers  (1.5 credit)

This course is an introduction to the principles of macroeconomics and provides students with a thorough understanding of macroeconomic issues and problems. Topics include: unemployment, inflation, national income accounting, fiscal and monetary policies. Students will be exposed to modern macroeconomic models and be able to apply these to explain economic fluctuations and the impact of fiscal and monetary policies on the economy.

ECON 541  Foundations of Contemporary Economic Thought  (3 credits)

Prerequisite(s): ECON 501. Antecedents of current economic theory; economics as a cumulative science; the works of the creative economists; the uses and limitations of economic theory.

ECON 544  Government and Business  (3 credits)

Prerequisite(s): ECON 501. The evolution of government influences on the functioning of the American economy. The causes and consequences of government regulation and control. The importance of economic analysis in the foundation of public policies.

ECON 558  Cross-Border Mergers and Acquisitions (MA's)  (3 credits)

This course examines the trends, the determinants, and the performance of cross-border mergers and acquisitions (M&As). It proceeds to explore the impact on economic development of Foreign Direct Investments (FDI) through cross-border M&As as opposed to Greenfield investments, a competing foreign market entry mode. Finally, this course addresses the question of corporate strategy formulation to optimize net benefits of cross-border M&As. Equivalent course INBS 558 effective through Summer 2019.

ECON 560  Economics Internship  (3 credits)

Prerequisite(s): Departmental approval. In conjunction with ECON 561, this course (ECON 560) is the initial course of a two course internship sequence. The purpose of ECON 560 is to integrate the student's educational experience with an off-campus, business or public sector, professional experience. In addition to applying their economic education to specific problems, the internship also provides each student with an opportunity for enhanced personal growth and professional awareness.

ECON 561  Internship Treatise  (3 credits)

Prerequisite(s): ECON 560 with a minimum grade of B. The post-internship treatise course provides the opportunity for the student to integrate their formal education and their internship experience in order to develop a treatise on a specific aspect and application of economic theory. This is the second course in the internship sequence.

ECON 562  Macroeconomics Analysis and Public Policy  (1.5 credit)

In this course students will learn how national and global economic conditions, fluctuations in the level of economic activity, and various economic policies affect the general business environment. Topics include business cycles; interrelationship among the private, public and foreign sector balances; the determination of national income, employment and the price level in classical, Keynesian and modern macroeconomic theories; fiscal and monetary policy; and the analysis of money and bond markets, and the determination of interest rates.

ECON 563  Managerial Economics  (1.5 credit)

In this course students will examine the application of microeconomic theory to the manager's responsibilities and decision making within the organization. Topics include the theory of consumer behavior, the theory of the firm within the framework of profit maximization, demand, supply and the concept of elasticity. Furthermore, this course explores different forms of markets: perfect competition, imperfect competitive markets such as monopoly, monopolistically competitive and oligopoly. The course will also explore the concept of externalities, and circumstances in which markets can fail and need to be corrected by government policies.

ECON 564  Multinationals and Emerging Markets  (3 credits)

This course is designed to provide a theoretical framework coupled with a "hands-on" approach to identify opportunities, risks, challenges and strategies for doing business in emerging market economies. The perspective is that of the management of a Multinational Corporation (MNC), responsible for international business activities in emerging markets such as direct investments and/or financial investments. The topics covered include a background on emerging markets, their economic potential, risks and challenges specific to these markets, and the strategies for doing business in such environments. Equivalent course INBS 560 effective through Summer 2019.

ECON 571  Globalization and the Developing World  (1.5 credit)

Prerequisite(s): ECON 562. Restriction(s): MBA degree students only. This course seeks to familiarize students with economic and social problems encountered by developing countries in the context of a rapidly integrating world, and enable them to critically review policy choices available to their governments. With completion of this course, students are expected to demonstrate awareness of current controversies in development economics and their implications for the rest or the world.

ECON 575  Independent Study in Economics  (1-3 credits)

Prerequisite(s): Departmental Approval. Restriction(s): MBA degree students only. Under faculty guidance and supervision, this tutorial course is open to students who wish to pursue individual study and research in a particular discipline. May be repeated five times for a maximum of 18 credits as long as the topic is different.

ECON 577  Special Topics in Economics  (1-3 credits)

Restriction(s): MBA degree students only. An in-depth study of a selected topic, issue, problem or trend in business economics. The specific subject matter is not offered as an existing regular course or deserves more time-emphasis than is possible in a regular course. May be repeated five times for a maximum of 18 credits as long as the topics is different.

ECON 590  Reading Seminar in Applied Economics  (3 credits)

Prerequisite(s): Departmental approval. Required of all candidates in the BA/MA Applied Economics Program. This seminar entails directed independent study in preparation for a three (3) hour written comprehensive examination.

ECON 603  Reading Seminar in Economics  (2 credits)

Required of all Master of Arts degree in Social Science candidates concentrating in economics, this seminar entails directed independent study in preparation for a three hour written comprehensive examination.

ECON 698  Master's Thesis  (3 credits)

Prerequisite(s): Departmental approval. Independent research project done under faculty advisement. Students must follow the MSU Thesis Guidelines, which may be obtained from the Graduate School. Students should take ECON 699 if they don't complete ECON 698 within the semester.

ECON 699  Master's Thesis Extension  (1 credit)

Prerequisite(s): ECON 698. Continuation of Master's Thesis Project. Thesis Extension will be graded IP (In Progress) until thesis is completed, at which time a grade of Pass or Fail will be given.