Economics Course Descriptions
EC 202 PRINCIPLES-MICROECONOMICS 3.0 Credit(s)
This course introduces microeconomic concepts such as supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, welfare analysis, and labor market. Students will also be introduced to the use of microeconomic applications to address problems such as the role of government, environmental policies, insurance markets, and income distribution.
Offered: Fall, Spring & Summer Sems All Years
EC 203 PRINCIPLES OF MACROECONOMICS 3.0 Credit(s)
This course introduces macroeconomic concepts and analysis of unemployment and inflation within the context of the business cycle, the determinants of economic growth, the role of interest rates in savings and investment, the interaction of money and the banking system, and corrective monetary and fiscal policies. Students gain an international perspective by assessing the role of international trade and exchange rates in the modern global economy. Prerequisite: Take EC-202
Offered: All Semesters All Years
EC 211 ECONOMICS OF SOCIAL ISSUES 3.0 Credit(s)
Course for non-business majors. Applies basic economic principles to analyze social issues. Topics include prices and the allocation of resources, the role of incentives, free trade, economic growth, market failure, the distribution of wealth and income, healthcare, crime, and education.
Offered: Spring Semester All Years
EC 295 CONTEMPORARY TOPICS IN ECONOMICS 3.0 Credit(s)
This course explores contemporary topics in economics in a study abroad context. Students will study the basic economic principles that addresses allocation of scarce resources. At the local level, students will explore social issues such as provision of healthcare and education, the role of demographics and migration in production and politics, and the impact of government policies that address market failures. Students will also explore the positioning of the nation in the global economy, evaluating the institutional infrastructure and the role of international trade and finance in the promotion of economic growth.
Offered: As Needed Contact Department
EC 299 SPECIAL TOPICS IN ECONOMICS 1.0-6.0 Credit(s)
Designates new or occasional courses that may or may not become part of the department's permanent offerings. Courses capitalize on a timely topic, a faculty member's particular interest, an experimental alternative to existing courses, etc. Prerequisites established by the department as appropriate for the specific course. Course title is shown on the student's transcript. Consult the current course schedule for available topics and current prerequisites. Prerequisite: Take EC-203
Offered: As Needed Contact Department
EC 303 US ECON & MONETARY POLICY 1.0 Credit(s)
This is a 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 presentations and give presentations in front of audience. The course is open to Business Economics and/or Finance majors only. Prerequisite: Take EC-203
Offered: Fall & Spring Semesters All Years
EC 305 INTERMEDIATE MICROECONOMICS 3.0 Credit(s)
Intermediate Microeconomics builds on foundational microeconomic concepts, offering an in-depth exploration of exchange and production. The course emphasizes the analytical tools essential for understanding economic behavior and market outcomes. At its core, the course cultivates an understanding of microeconomics not merely as a set of questions and answers, but as a systematic way of analyzing individuals and the social order that arises from their actions. Prerequisite: Take EC-203
Offered: Fall & Spring Semesters All Years
EC 306 INTERMEDIATE MACROECONOMICS 3.0 Credit(s)
Intermediate Macroeconomics builds upon the principles of macroeconomics, offering a deep and rigorous examination of economic progress and business cycles. This course uses a mix of theoretical models and real-world data to explore the essential structure and interrelationships among key macroeconomic variables such as national income and output, inflation, unemployment, and macroeconomic policy. Prerequisite: Take EC-203
Offered: Spring Semester All Years
EC 308 THEORIES OF POLITICAL ECONOMY 3.0 Credit(s)
Examines the foundation of and challenges to market capitalism. The role of political actors, shortcomings of the market, and the trend toward globalization are emphasized. Seminal works of Adam Smith, Karl Marx, and other economic theorists are explored.
Offered: As Needed Contact Department
EC 315 GAME THEORY 3.0 Credit(s)
Game theory is the study of strategic situations - those where the best course of action depends on actions of other economic agents. Several perfect applications of game theory naturally occur in the business world where almost every decision is strategic, i.e., made keeping in mind the actions of competitors. Thus, to be successful in understanding and crafting complex and important business decisions, one must understand how to "play the game". This course will introduce students to the science of strategic interactions as they occur in the business world. Students will learn the basics of game theory, as well as its the applications to real world business situations such as auctions, pricing under imperfect competition, first mover advantage, bargaining and negotiations, signaling and screening, incentive pay, etc. The class will alternate between developing the tools of game theory one week, and analyzing interesting applications of that theory next week using online games and case study analysis.. Prerequisite: Take EC-203 Principles of Macroeconomics 3
Offered: Spring Semester All Years
EC 316 INTERNATIONAL ECONOMICS 3.0 Credit(s)
This course examines basic theories of international trade, modern trade policies, and international finance. It overviews the changing global business patterns, with a special focus on new economic 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.
Offered: Fall & Spring Semesters All Years
EC 320 HEALTH ECONOMICS 3.0 Credit(s)
This course introduces the application of economic theory to the production of health and healthcare services. Students will investigate the demand for medical care and the roles of moral hazard and adverse selection in the health insurance market. They will analyze the differences in pricing and utilization across healthcare systems (HMO, PPO, POS), markets for physicians, hospital and pharmaceutical services, as well as the role of the government in the regulation and administration of healthcare. Students will also learn the decision-making tools used in the economic evaluation of healthcare interventions. Prerequisite: Take MA-131 or higher, or EX-230
Offered: Fall & Spring Semesters All Years
EC 362 MONEY AND BANKING 3.0 Credit(s)
Money and Banking provides an in-depth examination of the US monetary system using a powerful combination of theory, history, and empirical analysis. The topics covered include the history and function of money, the development and role of commercial banking, and US central banking and monetary policy. Prerequisite: Take EC-203 Principles of Macroeconomics 3
Offered: Fall & Spring Semesters All Years
EC 381 ECONOMETRICS FOR BUSINESS 3.0 Credit(s)
The course focuses on the application and interpretation of econometric techniques with real-world applications in economics, finance, and business. The course will cover less theoretical aspects of the econometric tools while emphasizing the use of suitable computer software to gain knowledge and experience in business and economic research. The class is divided in four parts: Statistical Estimation and Inference, Ordinary Least Squares (OLS), Advanced OLS models, and Limited Dependent Variables.
Offered: Fall & Spring Semesters All Years
EC 390 ECONOMICS INTERNSHIP 3.0 Credit(s)
Students are directly involved in various practical applications of economics and finance knowledge to a specific industry or organization. The emphasis is on acquiring hands-on skills. An on-site professional supervises students. Prerequisite: Take EC-201 or 203 and EC-202
Offered: Fall, Spring & Summer Sems All Years
EC 492 ECONOMIC & FINANCIAL FORECASTING 3.0 Credit(s)
Survey and applications of core time-series techniques of economic and financial analysis. Incorporates standard and advanced models of trend, seasonality, and cycles as well as recursive techniques, volatility measures, simulation methods, and stochastic trends. Extensive use of the EViews software program for both modeling and forecasting purposes. Prerequisite: Take EC-491
Offered: As Needed All Years
EC 495 APPLIED ECONOMICS SEMINAR 3.0 Credit(s)
This culminating, seminar-style course synthesizes key elements of intermediate microeconomics, macroeconomics, and econometrics, fostering an exploration of applied economic analysis. Engaging critically with contemporary scholarship in both micro and macroeconomics, this course underscores the power and value of the economic way of thinking. Prerequisite: Take EC-306 EC-381 EC-305
Offered: Fall Semester All Years
EC 699 INDEPENDENT STUDY IN ECONOMICS 3.0 Credit(s)
Offered: As Needed Contact Department
EC ELEC ECONOMICS ELECTIVE 1.0-9.0 Credit(s)
Offered: As Needed Contact Department
EC ELECF ECON. FOUNDATIONAL ELECTIVE 1.0-9.0 Credit(s)
Offered: As Needed Contact Department