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COURSE DESCRIPTIONS
EC 302 Global Financial Markets and Institutions 3 CR
This course overviews the global financial markets and institutions. It examines the regulatory framework and asset/liability
management at commercial banks and other financial institutions. It analyzes the significance of money, credit, and interest
rates, as well as the impact of monetary policy on the economy. Students learn about assessment and management of
various types of risks faced by global financial institutions.
Prerequisites: EC 203
EC 303 Seminars on U.S. Economy and Monetary Policy 1 CR
This is one credit course to learn about U.S. Macroeconomics aspects and monetary policy implementation by the Federal
Reserve Bank. Selected students will participate in the Fed Challenge competition held in November by the Eastern Economic Association with partnership of New York Federal Reserve Bank. Students learn to work in a team environment, conduct research in macroeconomics, write short papers on economic topics, and conduct data analysis to make graphs and tables. In addition, they also learn how to make Powerpoint presentation and give presentation in front of audience. The course is open to Business Economics and/or Finance majors only. Prerequisites for this course is EC 203.
EC 313 Managerial Economics 3 CR
Analyzes the structure of industry, business firms and the application of analytical tools of economics to decision making. Topics include: the determination of relevant costs for decisions within the business firm, pricing and capital budgeting problems,
risk and uncertainty, and cases involving actual managerial situations that require the use of economics analysis.
Prerequisite: EC 203
EC 315 Game Theory 3 CR
Game theory is a collection of tools used to study and model strategic decision making. These methods can be used to
study optimal decision making in contexts ranging from those normally viewed as "games" such as poker to situations
that economists are more concerned with that can include how to place a bid in an auction, how to set prices to draw
business from a competitor etc. This class will begin by developing the formal tools of game theory and then
alternate between showing interesting applications of that theory and developing additional theoretical tools. The type
of applications that will be discussed will include a study of optimal auctions, pricing games, and models of election
games. The goal for this class is that by the end of it, students should be able to engage in complex strategic
analysis of real world situations.
EC 321 Labor Economics 3 CR
Applies the fundamentals of microeconomics and macroeconomics analysis to important decisions that people
make in labor markets. Topics include the understanding of the wage and employment determination in the
labor market, the wage differential, investing in human capital (i.e. education and training), labor mobility (including immigration), discrimination, unions and unemployment. The course will cover both theoretical and empirical
aspects of these issues.
Prerequisite EC 203
EC 322 International Economics 3 CR
This course examines basic theories of international trade, modern trade polices and international finance. It overviews the changing global business patterns with a special focus on new economics and regulatory policy challenges in the aftermath of the first global recession of the 21st century. Students who master the course material will gain knowledge and skills for succeeding both in the public sector institutions and in international business organizations. Prerequisites: EC 203
EC 324 Economic Stabilization and Reform in Central Europe 3 CR
The collapse of communism in Central and Eastern Europe has created immense challenges for these former Soviet bloc nations. It has also required Western nations to develop new ideas and strategies for dealing with their former enemies. This course examines the forces behind the breakup of the Soviet bloc, the often rocky path toward free markets in Central and Eastern Europe, and the future prospects for this rapidly changing part of the world.
EC 341 History of Economic Thought 3 CR
Traces the development of economic theory and the major contributions of the various schools of economic thought from Adam Smith through contemporary theory. Prerequisite: EC 203
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