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Course Criteria
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 Analyzes the economic forces influencing employment, wages and working conditions in the United States. Examines topics such as the decline in job security, the rise in educational and training requirements, the impact of technology and trade on employment and wages, and the extent and effects of unionization. Discusses managerial compensation and the use of incentive packages to reduce labor turnover and encourage productivity. Course also addresses public policy issues regarding income inequality, safety and health, discrimination, minimum wage, and unemployment compensation.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 Personnel economics provides an analytical framework for managers to understand the strategic aspects of human resource management from an economic viewpoint. The course uses the economic models of human capital, option pricing, adverse-selection, and optimal input utilization to examine the setting of hiring standards, the determination of worker productivity, and the establishment and evaluation of training programs. It discusses compensation schemes and the use of incentive packages such as bonuses and stock options to reduce labor turnover and encourage worker productivity. It shows how the basic economic approach of evaluating decisions on the margin and considering monetary and nonmonetary tradeoffs can be used to address issues regarding job attributes, fringe benefit packages, team building, and corporate culture.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111, EC 112 and GB 204/205 or GB 210 Presents an analysis of techniques and models useful for business forecasting of sales and other business variables. Allows the student to give quantitative answers to the questions of business planning in an uncertain environment. Includes judgmental, simulation and statistical forecasting methods. Provides an assessment of alternative techniques and examines the implementation of forecasts in the context of business planning.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 Examines the development of economic thinking with regard to topics such as value, production, distribution, employment and inflation. Outlines the progression of ideas from the classical school, through Marxism and neoclassical thinking to the Keynesian revolution of this century. Examines the post-Keynesian direction of economics and provides an overview of recent theoretical developments in the context of past approaches. Traces the development of economic concepts in the context of economic conditions of the period and concludes with a discussion of the current direction of economic thought.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 Studies the role of government in a mixed capitalistic system. Discusses the purpose and effects of government redistribution programs like Social Security, Aid to Families with Dependent Children, Medicare and Medicaid. Examines the structures and economic impacts of the personal income tax, corporate income tax, and property tax systems. Concepts, skills and tools learned include expenditure and tax incidence analysis, cost-benefit analysis, statistical testing of hypotheses, analytical writing and communication skills.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 Investigates the interdependence of market structure, strategic firm behavior and industry performance, and those relationships. Market structure is analyzed through the study of scale economies, merger activities, and entry barriers. Various competitive strategies are examined, such as advertising, price discrimination and technological innovation. Industry case studies are used to provide a contemporary, real-world context for the economic analysis.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 Examines the relationship between government business policy and business response. Considers the various ways in which government attempts to alter business behavior through the use of industry regulation, antitrust legislation, and social regulation such as consumer protection, environmental protection, and occupational safety laws. Discusses the intent of various laws to see that firms behave in socially desirable ways and examines the degree to which the laws have been successful in achieving these results.
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3.00 Credits
Prerequisite(s): Junior level standing, EC 111 and EC 112 This course will look at a broad array of issues raised by the revolution in information technology. Included will be macroeconomic topics such as whether information technology really created a "new economy, the effect of information technology on productivity, and what can we learn from the dot-com boom and bust. The structure of the information technology sector will be analyzed by looking at several of its unique features and considering their effects. A considerable portion of the course will be taken up with the issues of pricing information goods and services. In addition, economic policy with respect to competition, intellectual property issues, and taxation will be examined.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 This course explores the economic aspects of innovation and technology, focusing on their implications for economic performance and competitiveness of firms, industries, regions and countries. Micro-economic aspects of innovation are covered, including topics such as types of innovation, the role of R&D, patents, and characteristics of firms most likely to innovate. Business applications are demonstrated through case studies of industries. At the macro-economic level, interrelationships among technology, innovation and economic growth are analyzed. Factors underlying the ability of regions (such as Silicon Valley and along Route 128), and of countries (such as Ireland, India and China) to succeed or fail in generating technology-based firms and in high-tech economic growth and development are explored.
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3.00 Credits
Prerequisite(s): Junior-level standing, EC 111 and EC 112 Presents the basis of international trade through both classical models and recent complementary trade theories. Analyzes the impact of trade, i.e., who gains and who loses, with implications regarding the politics of trade. Examines commercial policy, trade blocks, links with development, and consequent north-south conflicts. Shows the determination of exchange rates, and the relationship with the U.S. balance of payments. I
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