ECO - Economics   

ECO 200 - Microeconomics (3 Credits)
   The course introduces students to economic analysis and its applications to firms and individuals. The course starts with a basic analysis of demand, supply, and market equilibrium. Then, it proceeds to consumer behavior theory, the theory of profit-maximizing firms, and optimal use of factors of production under competitive and noncompetitive markets.
   Prerequisite: MAT 111

ECO 201 - Macroeconomics (3 Credits)
   The course focuses on the analysis of aggregate economic activities created in a free-market economy. The course analyzes the level, fluctuations, and growth of national income. It also discusses the government's role in the economy and the use of fiscal, monetary, and foreign trade policies to guide the economy to achieve desired targets of unemployment, inflation, balance of payments, and growth.
   Prerequisite: ECO 200

ECO 300 - Intermediate Microeconomics (3 Credits)
   The course is a rigorous coverage of resource allocation theory and its applications. Topics include theory of consumer behavior, production theory, firm behavior, and price determination under different market conditions. The course also analyzes market efficiency and externalities.
   Prerequisite: ECO 200

ECO 301 - Intermediate Macroeconomics (3 Credits)
   The course is a comprehensive analysis of contemporary theories of employment, money and inflation, business cycles, and economic growth, including a thorough study of the effectiveness of monetary and fiscal policies in economic stabilization and their implications for business activities and economic growth.
   Prerequisite: ECO 201

ECO 344 - Money and Banking (3 Credits)
   The course analyzes the structure and functions of the U.S. financial system with its three elements: financial markets, institutions, and instruments. The course concentrates on the banking system, especially the role of the Federal Reserve and commercial banks, and the effectiveness of monetary policy as an economic policy tool. In addition, the course introduces students to financial market volatility and the roots and consequences of financial bubbles.
   Prerequisite: ECO 201 (ECO 301 is recommended)

ECO 383 - International Economics (3 Credits)
   The course analyzes current international financial systems, exchange rate regimes, and balance of payments and their adjustment mechanisms with emphasis on the effect of fiscal, monetary, and exchange-rate policy for internal and external balance. The course also surveys international capital movements and the relationship between trade and economic growth. In addition, the course outlines comparative advantage theories of trade, and trade policies of tariffs and quotas.
   Prerequisite: ECO 201 (ECO 301 is recommended)

ECO 400 - Independent Study in Economics (4 Credits)
   Students with a special interest in a particular topic or area may apply to study under the individual direction of a faculty member. Independent study applicants must submit an application, including an outline of the proposed budget, to the appropriate faculty member. All independent studies must be approved by the Academic Dean and are restricted to Juniors or Seniors.

ECO 401 - Labor Economics (3 Credits)
   The course introduces students to labor market analysis. This includes wage determination and incentives workers face and their effects on the formation of families, determination of birth rates, migration, population change, and aging. The course also addresses minimum wage policy, investment in human capital, return on education, earnings inequality, and unions.
   Prerequisite: ECO 200 (ECO 300 is recommended)

ECO 442 - Industrial Organization (3 Credits)
   The course analyzes market structure in competitive and non-competitive markets with emphasis on the interactions among firms, and its effect on market outcomes of output and prices. The course pays special attention to oligopoly, anti-trust policy, cost variations with scale of production, collusive behavior, barriers to entry, advertising, and pricing policies.
   Prerequisite: ECO 300 (STA 326 is recommended)