Economics (EC)
Courses
EC 230 Humanistic Economics: 3 semester hours
Initially this course will focus on an elaboration of humanistic economic principles by describing an economy based on needs, material and otherwise how humanistic ideas differ from the orthodox: an economy based on wants. The remainder of the course will then explore some current attempts at outlining economic systems that are neither exclusively free market or centrally planned; these will be presented and evaluated in terms of humanistic principles.
EC 251 Macroeconomics Principles: 3 semester hours
An introduction to the study of economics along with some facts about the U.S. economic system; theoretical analysis of the determination of total output employment and price levels; use of monetary and fiscal policy weapons to influence economic activity, money and the banking system; economic growth and development; and international finance. Prerequisite: sophomore standing or First Year Honor Student.
EC 252 Microeconomic Principles: 3 semester hours
An analysis of the market system as it determines prices, output and employment of the individual products and resources, application of market theory to some current domestic economic issues and international trade. While not an absolute prerequisite, EC 251 is normally taken before EC 252. Prerequisite: sophomore standing or First Year Honor Student.
EC 366 Money and Banking: 3 semester hours
A study of the nature of money, role of banks and the central bank in the economy, central bank control of the supply of money, effect of money on the economy, Monetarist vs. Keynesian views on monetary and fiscal policies, and the role of money in international finance. This course will emphasize financial markets and monetary policy, not bank operation and management. Prerequisites: EC 251 and EC 252.
EC 376 International Economics: 3 semester hours
The course offers an introduction to the theory and practice of international trade and finance. It will evaluate the principle of comparative advantage of nations. Students will learn about International Trade Barriers, Trade Zones (such as NAFTA and the EU). Trade Agreements, The Balance of Payment and The Balance of Trade. The course will discuss the U.S. trade policy in light of the Free Trade VS Protectionism argument. The role of international trade institutions such as the IMF, WTO and foreign exchange markets will be evaluated. The course will discuss globalization and its impacts on Labor markets, Income Distribution, The Environment, and consumers, in the U.S. and abroad. Prerequisite: EC 251.