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  • ECON 203: Principles of Economics-Micro-Environmental Issues

    3.00 Credits
    Randolph-Macon College

    This course introduces the basic concepts of microeconomics and applies them to environmental problems. The focus is on the analysis of different types of product and resource markets, the notion of economic efficiency, and the conditions under which market outcomes are either efficient or inefficient. The rationale for government intervention in markets, public policies which promote efficiency, and the limitations of such policies will be covered. As part of the new curriculum which becomes effective with academic year 2005-06, this course will satisfy one Social Science Area of Knowledge requirement. It may be substituted for ECON 201 as part of the economics and business major or the economics major/minor. It is also a required course for the environmental studies major. Students may not receive credit for both ECON 201 and ECON 203. Three hours. Mr. Lang.
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  • ECON 215: Elementary International Trade and Finance

    3.00 Credits
    Randolph-Macon College

    This course introduces the theory of international trade and finance at an elementary level. The tools necessary for the analysis beyond the principles of economics are presented as an integral part of the course. This course is designed primarily for non-majors; it does not count as a part of the major program in economics or economicsbusiness. (Note: A student may not take this course after having taken ECON 380 or BUSN 370.) Prerequisite: ECON 201 or 203. Three hours. Staff.
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  • ECON 312: Advanced Statistics for Economics and Business

    3.00 Credits
    Randolph-Macon College

    A course that deals with the statistical techniques used to analyze economic and business data. It serves as a background for the study of econometrics and for graduate study. Emphasis is placed on parametric and non-parametric tests of hypotheses, regression analysis, and time-series analysis. Index numbers and decision theory will be covered if time permits. Computer applications are an integral part of the course. Prerequisites: ECON 201-202 or 203-202, MATH 111 or 113. Three hours. Mr. Pfitzner.
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  • ECON 323: Intermediate Microeconomic Theory

    3.00 Credits
    Randolph-Macon College

    A study of traditional price theory. The course emphasizes the development and use of tools that permit analysis of several different types of product and resource markets. A major theme is efficiency in resource allocation and major topics include demand theory, indifference curve analysis, derivation of costs, pricing behavior, and resource employment and prices. The course also integrates simple mathematical techniques with economic analysis. Prerequisite: ECON 201 or 203. Four hours. Mr. Pfitzner, Mr. Brat.
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  • ECON 324: Intermediate Macroeconomic Theory

    3.00 Credits
    Randolph-Macon College

    A study of the economic forces that determine the major macro- economic variables for the economy as a whole output, employment, interest rates, and the overall price level. An analysis ismade of classical, Keynesian, new classical, and monetarist economics as well as the implications of these alternative hypotheses. Prerequisite: ECON 201-202 or 203-202. Three hours. Mr. Lang, Mr. Schmidt.
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  • ECON 340: Urban Economics

    3.00 Credits
    Randolph-Macon College

    This course applies the analytical tools of microeconomics to model the spatial and economic organization of cities and metropolitan areas. The model is then used to study issues facing cities such as urban transportation, housing, poverty and segregation, and urban public finance. Prerequisite: ECON 201- 202 or 203-202, 323. Offered alternate years. Three hours. Mr. Lang.
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  • ECON 350: Environmental Economics

    3.00 Credits
    Randolph-Macon College

    This course studies the relationships between the environment and our economic and political systems. Economics can assist in identifying circumstances that give rise to environmental problems, in discovering causes of these problems, and in searching for solutions. The notion of intertemporal economic efficiency and the effect that property rights, externalities, and regulation have on efficiency will be covered. In addition, specific environmental problems, such as population growth, natural resource allocation, pollution control, and sustainable development, will be examined with a strong emphasis on policy analysis. Prerequisite: ECON 201 or 203. Offered alternate years. Three hours. Mr. Lang.
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  • ECON 357: Public Finance

    3.00 Credits
    Randolph-Macon College

    A study of the economic behavior of the public sector with reference to taxing, spending, borrowing, and managing the public debt. Students are expected to be able to analyze the effects of government taxes and expenditures on resource allocation, stabilization, and distribution. Additional topics include an analysis of government regulation, externalities, and benefit-cost analysis. Prerequisites: ECON 201-202 or 203-202, 323. Offered every three years. Three hours. Mr. Brat.
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  • ECON 361: Money and Banking

    3.00 Credits
    Randolph-Macon College

    A course that examines the role played by money, commercial banks, and other financial intermediaries in our economic system. It encompasses institutional description, model building, and monetary theory and policy. Attention is also placed on different financial instruments and markets and on the differences in various schools of thought with respect to the role of the Federal Reserve System. Prerequisites: ECON 201-202 or 203-202. Three hours. Mr. Schmidt.
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  • ECON 370: Economic Justice

    3.00 Credits
    Randolph-Macon College

    An historical examination of the major conceptions of economic justice primarily in the Western world. Major ethical schools of thought include the Socratic/Platonic/Aristotelian, the Judeo- Christian, and the Enlightenment school of Locke, Rousseau, Kant, Mill and Marx. Finally, contemporary moral theorists such as John Rawls and Robert Nozick will be used to compare/contrast this legacy of ethical thought with the orthodox models of economic thought, as represented in the writings of economists such as Adam Smith, John Maynard Keynes and Milton Friedman. Students may not receive credit for both ECON 370 and HONR 240. Offered alternate years. Three hours. Mr. Brat.
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