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Course Criteria
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3.00 Credits
Surveys economic theories propounded in the past and their effect on present-day economic thinking, business and political systems. Topics include the Classical school - Adam Smith, Ricardo, J.S. Mill, Malthus, among others; the challenges to the Classical School - Marx, Marginalists, and key figures in the Neoclassical school - Marshall and Walras; the early 20-th century Keynesian economics and the Monetarist model of Milton Friedman, and the 1970's models by Robert Lucas and Thomas Sargent.
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3.00 Credits
Applies economic theory and recent empirical findings to analysis of public policy. Topics include efficiency, externalities, public goods, the principles of taxation and applications, public borrowing and public debt management, revenues and expenditures of local, state, and federal government, and the impact of fiscal and budgetary policy on resources and income allocation.
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3.00 Credits
Reviews the historical background and the development of monetary practices and principles of banking; special attention given to commercial banking and credit regulations and current monetary and banking development. Topics include financial systems, interest rate determination, structure and regulation of banking industry, central banks, money supply, monetary policy, and the effect of money on output, employment, and inflation.
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3.00 Credits
Examines environmental facts and social circumstances with particular emphasis on market and non-market solutions to environmental problems. Topics include the private market and its efficiency, externalities, environmental quality as a public good, water resources and water quality, problem of air quality, supply, consumption and pricing of natural resources, the role that exhaustible natural resources have in economic development and other environmental problems.
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3.00 Credits
Introduces the basic concepts and principles of international economics. Topics include gains from trade, absolute advantage, comparative advantage, regional trade agreements, and the welfare effects of free trade and protectionism, national income accounting, the balance of payments, determination of exchange rate, and monetary and fiscal policy.
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3.00 Credits
Presents studies of developing economies. Topics include theories of economic development and growth, operative resistances to economic growth, the role of capital, labor, population growth and technological advances, development planning and trade in development settings, and problems of growth problems experienced by developing countries in the post-World War Two era.
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3.00 Credits
Analyzes patterns of economic and institutional development in the Middle East. Topics include the general trends in economic growth, investment, and institutional changes in the Middle East, population and human development issues, economics and politics of oil and trade, the structure of state and its role in economic development, financial markets and Islamic banking, and business environment.
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3.00 Credits
Applies the analytical tools of economics to a variety of contemporary policy issues. Costs and benefits of social regulation are assessed in connection with such problems as inflation, poverty and income distribution, environmental pollution, economic growth and technological change, and provision of education and medical care.
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3.00 Credits
Studies modern statistical methods in Business and Economics. Topics include probability distributions, hypothesis testing, regression and correlation analysis, analysis of variance, and designs of experiments.
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3.00 Credits
Introduces students to the various forecasting methods and their application in economics, business, and finance. Topics covered include regression techniques, exponential smoothing, decomposition of time series, moving averages, ARIMA models, and VAR models.
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