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The Business Economics Major

The business economics major includes the study of micro- and macro-economics, as well as classes in economic fields like labor economics, managerial economics, or energy economics, and the study of statistical analysis. 

Required Business Economics Courses:

ECON 3040 - Intermediate Macroeconomics           

Factors determining level of nation’s economic activity and responsible for growth and stability in nation’s economy. Part of course devoted to measures of national income while remainder consists of analysis of interrelationships among production, price levels, relative prices, employment, and capital formation. Students expected to have understanding of elementary algebra and geometry.

Requisites: ECON 1040
Credit Hours: 3.0

ECON 4850 - Economic Methodology

Statistical testing of economic hypotheses employing linear regression. The economic models tested are those commonly employed in the microeconomic and macroeconomic literature.

Requisites: ECON 3040 and (3030 or 3050) and (3810 or QBA 2010)
Credit Hours: 3.0

Economics Electives

Choose two of the following courses:

ECON 2130 - Current Economic Problems

Application of economic theory to current economic problems with emphasis on public policy implications.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3000 - Mathematics for Economists

Mathematical analysis in economics. Calculus and matrix algebra techniques used prominently in economics literature, together with their application to selected problems in economics.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3020 - Games and Economic Behavior

Game Theory studies interactions between mutually interdependent players who are aware of this interdependence.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 3080 - Behavioral Economics

This course combines insights from psychology with neo-classical economic theory and applies human and social cognitive and emotional patterns to better understand economic decision making and public choice.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 3120 - Economics of Poverty

Incidence, causes, measurement and analysis of poverty worldwide.

Requisites: ECON 1030
Credit Hours: 3.0 

ECON 3130 - Economics of the Environment

Economic analysis of such environmental matters as air, water, and noise pollution, population growth, and land use. Emphasis placed on use of economic theory and empirical research in evaluating environmental policies.

Requisites: ECON 1030 and (MATH 163A or 1350)
Credit Hours: 3.0

ECON 3140 - Natural Resource Economics

Explores the economic aspects involved in the extraction and utilization of both renewable and nonrenewable natural resources. Topics include the economics of oil and mineral extraction, groundwater use, agricultural practices, forestry, and fisheries. Allocation of property rights and economic benefits and costs of natural resource use also are examined.

Requisites: ECON 1030 and (MATH 163A or 1350)
Credit Hours: 3.0 

ECON 3150 - Economics of Health Care

The main topics include: Private versus social health insurance. Economics of HIV/AIDS. Rational and bounded rational addiction models. Economics of smoking, drinking, obesity. Exams involve solving numerical problems and writing short essays on health policy issues.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3160 - Economics and the Law

Major topics are property, contracts, and torts. Class time is divided between economic analysis of these topics in the abstract and actual legal cases that involve these topics.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 3200 - Labor Economics

Demand for labor, supply of labor, household production, compensating wage differentials, education and training, discrimination, unions, and unemployment.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 3220 - Economics of Human Resources

Investigation of the decisions individuals and families make regarding education, marriage, fertility, labor supply, and child care, as well as the effects of public policy on these decisions.

Requisites: ECON 1030
Credit Hours: 3.0 

ECON 3320 - Industrial Organization

Market structures, market conduct, and social performance of industries. Emphasis upon firms’ strategic behavior in price and non-price competition. Topics include oligopolistic pricing, strategic entry deterrence, location strategies, product quality, advertising, and research and development. Economic welfare implications of firms’ behavior examined.

Requisites: ECON 1030 and (MATH 163A or 1350)
Credit Hours: 3.0

ECON 3340 - Economics of Antitrust

Explores the economic behavior of the firm subject to antitrust laws. Topics include collusion, price discrimination, vertical restraints, and other behavior where the intent may be to monopolize a market. Also examines institutional incentives and economic benefits and costs of antitrust laws.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 3350 - Economics of Energy

Applies economic theory to analyzing public policy issues regarding energy production and use–including such topics as price controls, import dependency, conservation, supply outlook, and industry concentration.

Requisites: ECON 1030 and (MATH 163A or 1350)
Credit Hours: 3.0

ECON 3370 - Economics of Regulation

This course examines the theory and practice of economic, health, safety, and environmental regulations.

Requisites: ECON 1030
Credit Hours: 3.0 

ECON 3400 - International Trade

International trade patterns, theories of absolute and comparative advantage, classical and modern trade theory, tariffs, quotas, nontariff barriers, preferential trading arrangements.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 3410 - International Monetary Systems

How exchange rates are determined, fixed vs. flexible rates, government intervention, fiscal and monetary policy in open economy, transmission of inflation and unemployment among nations, international capital movements, covered interest arbitrage, forward exchange, Euro-currency markets.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3430 - Financial Economics

In a free economy, income earners’ savings flow directly and through intermediaries to investors who use the proceeds to increase capital, the engine of growth. Intermediaries such as banks, brokers, and exchanges, create instruments such as equities, bonds, mutual fund shares, and their derivatives, which trade in secondary markets. This course examines the interrelationships between institutions, instruments, participants, strategies, and markets.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3500 - Development Economics

This course examines classic and modern theories of economic development and growth focusing on applications to the developing world. Special topics may include debt, trade, reform, foreign investment, education, health, the role of the state, and international aid.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3510 - Agricultural Development

Patterns of agricultural development; technological and demographic changes in agriculture; socioeconomic problems; marketing arrangements; case studies of specific agricultural development projects.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0 

ECON 3520 - Economic History of the United States

Economic factors in development of U.S., including historical growth of economic institutions such as banking, manufacturing, labor unions, and agriculture, from colonial times to present.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3530 - European Economic History

Economic growth of developed countries. Focus on industrial revolutions in Great Britain, France, Germany, and the former Soviet Union. Historical experience of these countries related to various theories of economic change.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 3600 - Money and Banking

Role of money and banking system in determination of national income and output.

Requisites: ECON 1040
Credit Hours: 3.0

ECON 3710 - Cost Benefit Analysis

A systematic treatment of all the concepts underlying benefit cost analysis combined with hands on experience in using cost benefit analysis to evaluate actual public projects.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 4060 - Monetary Theory and Policy

Emphasis on monetary economics. Money demand and supply theory and policies for minimizing cyclical fluctuations in economic activity.

Requisites: ECON 3040 or 3600
Credit Hours: 3.0

ECON 4250 - Government and Economic Policy

Survey of economic approach to analyzing public policy issues. Uses concepts of welfare economics and public choice economics, as applied to sample of policy subjects.

Requisites: ECON 1030 and 1040
Credit Hours: 3.0

ECON 4300 - Public Finance

Role played by government as user of economic resources and redistributor of incomes. Some questions explored: need for government’s entry into economy, optimal size of government, selection of tax and expenditures schemes, and effects of government economic activity on private sector.

Requisites: ECON 1030 or 1040
Credit Hours: 3.0

Economics Option

Choose one of the following:

ECON 3030 - Intermediate Microeconomics

Price system as allocative mechanism. Price and production policies of individual firms and consumers under alternative market conditions and analysis of these policies on social efficiency of resource allocation. Students expected to have understanding of elementary algebra and geometry.

Requisites: ECON 1030
Credit Hours: 3.0

ECON 3050 - Managerial Economics

Analysis of decision-making in enterprise; market environment; measurement of influence of policy and nonpolicy variables on sales and costs; sales, cost, and profit forecasting; and empirical studies of market structure and pricing.

Requisites: ECON 1030 and (MATH 163A or 1350) and (PSY 1110 or 2110 or QBA 2010)
Credit Hours: 3.0