Economics (ECO)

ECO 101  Current Issues in the Economy     Credits: 3

Typically Offered: Fall, Spring, Summer.

Course Description: Introductory course covering current economic events and economic problems facing society. Topics include health care, the environment, crime and poverty, globalization, and recession and growth in the national economy. As the economic aspects of these issues are explored, the student is introduced to the methods used by economists to analyze problems and to develop possible solutions.

ECO 260  Principles of Macroeconomics     Credits: 3

Typically Offered: Fall, Spring, Summer.

Course Description: Introduction to basic principles of economics with emphasis on the analysis of unemployment, GDP, inflation, and public debt; discusses fiscal and monetary theories and public policies.

ECO 261  Principles of Microeconomics     Credits: 3

Typically Offered: Fall, Spring, Summer.

Course Description: Introduction to economic fundamentals with emphasis on supply and demand analysis, factor markets, different market structures, international economics, and various economic problems.

ECO 283  Introduction to Research Methods in Economics     Credits: 1-6

Typically Offered: Departmental Discretion.

Course Description: Introduction to basic research methods in Economics. Individual and team projects involving methods for solving economics-related research problems. Prerequisite(s): Departmental approval.

ECO 300  Statistics for Economics and Social Sciences     Credits: 3

Typically Offered: Departmental Discretion.

Course Description: Basic statistical techniques emphasizing economic and social science applications. Topics covered include data summary techniques, elementary probability theory, sampling and sampling distributions, interval estimation, hypothesis testing, correlation, and linear regression. Prerequisite(s): Successful completion of General Studies math requirement other than MAT 110.

ECO 310  Agricultural Economics     Credits: 3

Typically Offered: Departmental Discretion.

Course Description: Analysis of the evolution and status of the agricultural sector of the economy. Domestic and export markets will be analyzed, as will impact of agricultural policy. Special emphasis will be directed to the Midwestern regional economy as influenced by the agricultural food chain.

ECO 360  Intermediate Macroeconomics     Credits: 3

Typically Offered: Spring.

Course Description: Intermediate-level theory course examines determinants of GDP, employment, and inflation; emphasizes economic model building (both classical and Keynesian) and the use of monetary and fiscal policies to control business cycles and inflation. Prerequisite(s): ECO 260.

ECO 361  Intermediate Microeconomics     Credits: 3

Typically Offered: Fall.

Course Description: Theoretical approach to the behavior of the individual buyer and seller in the marketplace; includes consumer demand theory, costs of production, and market structures ranging from pure competition to monopoly. Prerequisite(s): ECO 261.

ECO 362  Public Finance     Credits: 3

Typically Offered: Fall.

Course Description: Studies principles of taxation and public expenditures, impact of fiscal policy on economic and social activity, and recent trends in public finance at the federal, state, and local levels. LAS Ethics. Prerequisite(s): ECO 260 and ECO 261.

ECO 363  Money and Banking     Credits: 3

Typically Offered: Fall, Summer.

Course Description: Continuation and expansion of money and banking concepts introduced in ECO 260; includes money, banks, and other financial intermediaries, the Federal Reserve System, concepts of monetary control, monetary policy, and international banking. Prerequisite(s): ECO 260.

ECO 364  Labor Economics     Credits: 3

Typically Offered: Spring.

Course Description: Introductory course dealing with the institutional aspects of the American labor force, its organization, wage and employment theory, the economic role of bargaining, and the basic ingredients of public policy toward labor organizations. Prerequisite(s): ECO 261.

ECO 365  Government Regulation of Business     Credits: 3

Typically Offered: Departmental Discretion.

Course Description: Analyzes the legislative and legal control of business and its implications for the various economic components of the American economy. LAS Ethics. Prerequisite(s): ECO 260 and ECO 261.

ECO 367  Urban and Regional Economics     Credits: 3

Typically Offered: Departmental Discretion.

Course Description: Examines economic growth in the United States with emphasis on the problems of economic growth in the Midwest; looks at factors instrumental in determining economic growth in various segments of the economy; considers urban problems associated with growth. LAS Writing. Prerequisite(s): ECO 261.

ECO 375  Economics of Health Care     Credits: 3

Typically Offered: Fall.

Course Description: Examines the application of economic theory to the health care industry. Topics include the demand for health and health care, the market for health insurance, managed care, the market for health care practitioners, hospital services, and pharmaceuticals, and the role and operation of Medicaid and Medicare. Current proposals for reform of the health care system and of government health care policy will be carefully examined. LAS Ethics. Prerequisite(s): ECO 261.

ECO 376  Economics of the Environment     Credits: 3

Typically Offered: Spring.

Course Description: Application of economic principles and insights to environmental issues, and to the development of potential remedies. Areas of examination include valuing the environment and sustainable development, natural resource economics (incl. energy, water, and biodiversity), and environmental economics (incl. air, land, and water pollution, and poverty and development). LAS Ethics. Prerequisite(s): ECO 260 or ECO 261.

ECO 450  Independent Research/Project     Credits: 1-6

Typically Offered: Fall, Spring.

Course Description: Investigation of a research problem, project, or topic on an individual conference basis. Prerequisite(s): Declared Economics major, a minimum of 2.5 GPA in major field, and departmental approval.

ECO 460  Business and Economic Forecasting     Credits: 3

Typically Offered: Fall, Spring.

Course Description: Basic and intermediate forecasting of business and economic variables. Forecasting of business variables such as sales, production, and stock prices. Economic forecasts of GDP, unemployment, and consumer prices. Techniques include judgmental methods, trend calculation, smoothing techniques, time series methods, and regression analysis. LAS Computer Literacy. Prerequisite(s): ECO 260 and either ECO 300 or GBA 210 or MAT 132.

ECO 461  International Trade     Credits: 3

Typically Offered: Spring.

Course Description: Introduction to the theory of international economics, with an emphasis on economic models of trade and on economic arguments for and against the use of trade barriers. The course examines the changing nature of international economic institutions and increasing world economic interdependence. LAS International/Intercultural. Prerequisite(s): ECO 260 and ECO 261.

ECO 462  History of Economic Thought     Credits: 3

Typically Offered: Spring.

Course Description: Development of various schools of economic thought: includes classical, neoclassical, institutional, Keynesian, and neo-Keynesian theories. LAS Writing. Prerequisite(s): ECO 260.

ECO 463  Comparative Economic Systems     Credits: 3

Typically Offered: Fall (even-numbered years).

Course Description: Introduction to the comparative study of national economic organization. Analysis of alternative patterns of reliance on national economic planning versus market activity. Examines experiences in different types of national economies such as the United States, the United Kingdom, Germany, Sweden, Japan, the republics of the former Soviet bloc, and China. LAS International/Intercultural. Prerequisite(s): ECO 260.

ECO 464  Econometrics     Credits: 3

Typically Offered: Departmental Discretion.

Course Description: Introduces methods and statistical tools utilized by economists to perform basic and applied research. Regression analysis is the focus, with emphasis on both theoretical issues and problems encountered in application. Students will experience the research process firsthand, with ample opportunities to collect and analyze their own data. LAS Computer Literacy. Prerequisite(s): Either ECO 260 or ECO 261 and either ECO 300 or GBA 210 or MAT 132.

ECO 466  Economics in Action     Credits: 3

Typically Offered: Departmental Discretion.

Course Description: In-depth study of one of the following specialty areas in economics taught on a rotational basis each semester offered. Content will cover such topics as: Economics of Crime and Justice, International Finance, Mathematical Economics, Economics of Sport, or Economics and the Media. Course may be repeated for credit up to five times with different topics. Prerequisite(s): ECO 260 or ECO 261.