Department of Business and Economics

Course Descriptions

Economics (ECON)

To view the complete schedule of courses for
each semester, go to Cardinal Station.

ECON 100: Fundamentals of Economics

3.00 Credits

A one semester introduction to the principles of both micro- and macroeconomics. Microeconomics topics will include the basics of supply and demand, the behavior of consumers and businesses, and how markets operate. Macroeconomic topics will include the fundamental components of gross domestic product(GDP), the problems of inflation and unemployment, the impacts of government fiscal and monetary policies, and economic growth.

ECON 101: Principles of Macroeconomics

3.00 Credits

ECON 101 Principles of Macroeconomics (3) Lecture An introduction to the study of open economy macroeconomic principles. It is concerned with the behavior of the economy as a whole. It studies the foundations of macroeconomic theory and their application to domestic and international macroeconomic policy. It is useful for students concentrating in other fields.

ECON 102: Principles of Microeconomics

3.00 Credits

ECON 102 Principles of Microeconomics (3) Lecture An introduction to microeconomic principles. Students will be introduced to the analytical tools of microeconomic analysis used to examine the behavior of consumers and producers, and how they interact in various types of market structures to determine prices and outputs. Students are also introduced to market failures and to alternative policies that may be implemented to deal with them.

ECON 103: Principles of Economics I (Honors)

3.00 Credits

An introduction to the study of open economy macroeconomic principles. It is concerned with the behavior of the economy as a whole. The course focuses on three major goals. First, to help students understand the nature of certain macroeconomic problems and institutions. Second, to help students master certain tools of macroeconomic analysis and third, to help students develop an ability to apply these tools to the macroeconomic problems that our society confronts. It is useful for students concentrating in other fields. This course is open only to students in the University Honors Program.

ECON 104: Principles of Economics II (Honors)

3.00 Credits

An introduction to microeconomic principles. Students are introduced to the analytical tools of microeconomics used to examine the behavior of consumers and producers and how they interact in various types of market structures to determine prices and outputs. Students are also introduced to market failures and to alternative policies that may be implemented to deal with them. The analyses of some topics, however, are conducted at a more advanced level in this course due to its honors level status. This course is open only to students in the University Honors Program.

ECON 223: Statistics for Business and Economics

3.00 Credits

Designed for students in Business and Economics, it introduces them to the basic elements of probability and statistics, covers descriptive statistics, elements of probability theory, properties of discrete and continuous random variables, sampling estimation, hypothesis testing, analysis of variance and regression analysis. The application of these concepts to problem solving in business and economics is emphasized. Also see Enrollment Requirements.

ECON 241: Intermediate Macroeconomic Theory

3.00 Credits

Explores such basic concepts as the consumption and investment function, the theory of income determination, the role of money and the theory of the price level. Also stresses growth and inflation, applying macroeconomic theory to current problems of public policy. Also see Enrollment Requirements.

ECON 242: Intermediate Microeconomic Theory

3.00 Credits

Covers all major aspects of microeconomic theory: consumer behavior and market demand, production, costs and the theory of the firm. Special emphasis on the determination of prices and outputs under alternative market structures. Treatment of market failures and alternative policies that might be implemented to address them. Also see Enrollment Requirements.

ECON 309: Money and Banking

3.00 Credits

An examination of the role of money, credit and financial intermediation in the economic system; development of monetary theory with special emphasis on current theories and their policy implications. Also see Enrollment Requirements.

ECON 324: Introductory Statistics II

3.00 Credits

no description available

ECON 327: Sports Economics

3.00 Credits

Sports are truly business, big business and off-field economic decisions determine on-field outcomes. This course is designed to apply rigorous economic thinking to the professional sports industry, an industry that offers an almost endless set of opportunities to examine the economic principles that underlie so much of the behavior we observe. Because sports economics cuts across a wide array of economic fields, the course will devote itself primarily to the study of three prominent areas: the industrial organization of sports, public finance and sports, and the labor economics of sports. The course's intended audience is students majoring or minoring in economics, business, general management, and sports management. The course has two prerequisites; 1. MGT 423; and 2. Student has achieved junior status or has done ECON 101 or 102

ECON 334: Capitalism, Globalization and Consumption

3.00 Credits

ECON 334 Capitalism, Globalization, and Consumption (3) Lecture This course presents students with a systematic analysis of the origins, emergence and transformations of modern capitalism. It examines the role of the money, open markets, mass consumption, and the logics of globalization. It introduces most recent critiques of global capitalism. Students will learn about the interfaces and discontinuities between the economy and society, and in particular about economic market integration and its impact on states and societies. Material includes works of Gilpin, Greenfeld, Lindblom, de Soto, Soros, and Weber.

ECON 348: Industrial Organization

3.00 Credits

Focuses on the behavior of the large industrial firm as it functions in modern-day capitalism. Topics include both the neoclassical and managerial theories of the firm, oligopolistic pricing, mergers, vertical relationships, advertising, research and development, as well as an analysis of the structure, conduct and performance of selected industries. Also see Enrollment Requirements.

ECON 349: Antitrust & Regulatory Economics

3.00 Credits

Focuses on antitrust and regulatory policies. Examines and evaluates policies towards monopolies, cartels, mergers and patents. Presents models of the regulatory process. Also see Enrollment Requirements.

ECON 359: Public Finance

3.00 Credits

Economic analysis of federal, state and local government taxes and expenditures, their impact on the pattern of resource use and the distribution of income among income groups. Also see Enrollment Requirements.

ECON 370: Austiran Economics and Its Main Themes

3.00 Credits

no description available

ECON 440: Economics of Development and Institutions

3.00 Credits

Covers different theories and strategies for economic development with special emphasis on such issues as growth, income distribution and the role of population. Free markets versus centralized planning analyzed in light of recent experience. Special attention also to international trade and finance and the Third World debt crisis. Also see Enrollment Requirements.

ECON 443: Applied Macro

3.00 Credits

The objectives of this course are threefold: 1) Survey the current state of the U.S. economy and interpret the flood of economic information provided by the news media, government and private sources; 2) Analyze the linkages between macroeconomic performance and the return on the financial market; 3) Work with a simple U.S. macro-econometric model to forecast U.S. macroeconomic variables such as GDP, unemployment, inflation and do policy analysis. Also see Enrollment Requirements.

ECON 445: Experimental Economics

3.00 Credits

no description available

ECON 446: Managerial Economics

3.00 Credits

Application of economic theory and statistics to managerial decision making. Topics include capital budgeting, cost and demand analysis, forecasting, pricing, market structure and regulation. Also see Enrollment Requirements.

ECON 461: Math Economics

3.00 Credits

ECON 461 Mathematical Economics (3) Lecture Covers the topics of economic models, applications of matrix algebra and calculus to economics. Emphasis on comparative statics, optimization models, and mathematical programming. Prerequisites:

ECON 463: Principles of Econometrics

3.00 Credits

ECON 463 Econometric Methods (3) Lecture Acquaints the student with methods of statistical estimation and testing of economic models. The course will have both theoretical and empirical content. Computer applications will be required. Prerequisites: ECON 323, ECON 324, and MATH 112 or equivalent.

ECON 480: International Trade

3.00 Credits

An introduction to international trade theory covering Ricardian, Heckscher-Ohlin and new theories of trade; tariffs and commercial policy; factor movement and regional economic integration. Also see Enrollment Requirements.

ECON 481: International Finance

3.00 Credits

Topics include foreign exchange markets and balance of payments statistics, multinational banking and Eurocurrency markets, the monetary approach to balance of payments adjustments, internal and external balance through monetary and fiscal policy, the international monetary system, the need for a national monetary system and the need for a new international economic order. Also see Enrollment Requirements.

ECON 482: Economic Integration Movements

3.00 Credits

Concerned with understanding the nature of the integration movement over the past ten years. Specifically, studies the major economic blocs, analyzing their structural development, similarities and differences, as well as the consequences for growth, monetary and fiscal policies and financial markets. Concludes with an evaluation of the impact these blocs have on the rest of the world. Also see Enrollment Requirements.

ECON 484: Economics and Finance in Emerging Markets

3.00 Credits

Analyzes the most salient features of emerging economies. These include prospects for economic growth, how to deal with volatility, exchange rates and currency crises, inequality and political stability and currency, country and political risk. Also see Enrollment Requirements.

ECON 493: The Econometric Models

3.00 Credits

no description available

ECON 500: Internship

3.00 Credits

Student works as an intern (part-time, with or without pay) with a local firm or government agency gaining on--the-job experience in a field related to the student's academic pursuit of economics and business. Performance is evaluated on the basis of periodic reports from supervisor and submission of a term paper, the subject matter of which is approved by the academic adviser.

ECON 501: Ethics in Business and Economics

3.00 Credits

Examination of current and classical issues in business ethics. Application of moral standards, theories of ethics, selected Catholic social teaching and theories of economic justice to the evaluation of domestic and international business behavior. Discussion of rights and obligations of workers, organizations and consumers. Review of the ethical foundations of contemporary capitalism, the moral status of the corporation and the social responsibility of business. Also see Enrollment Requirements.

ECON 528: Labor Economics

3.00 Credits

Focuses on the operations of the labor market. Analyzes labor force characteristics and trends, types and theories of unemployment and public and private manpower policies. Examines wage structures, criteria for wage determination and minimum wage laws. Brief treatment also given collective bargaining and social security programs. Also see Enrollment Requirements.

ECON 534: Economic Sociology

3.00 Credits

ECON 534 Economic Sociology (3) Lecture This course presents students with a systematic analysis of the origins, emergence and transformations of modern capitalism. It examines the role of the money, open markets, mass consumption, and the logics of globalization. It introduces most recent critiques of global capitalism. Students will learn about the interfaces and discontinuities between the economy and society, and in particular about economic market integration and its impact on states and societies. Material includes works of Gilpin, Greenfeld, Lindblom, de Soto, Soros, and Weber.

ECON 540: Economics of Development and Institutions

3.00 Credits

Covers different theories and strategies for economic development with special emphasis on such issues as growth, income distribution and the role of population. Free markets versus centralized planning analyzed in light of recent experience. Special attention also to international trade and finance and the Third World debt crisis. Also see Enrollment Requirements.

ECON 541: Family and Economic Growth

3.00 Credits

Addresses the relevance of the family for economics. Includes the study of the family's role in the economy, its connection with human, social and moral capital and how the different types of capital shape the path of economic growth. Also see Enrollment Requirements.

ECON 542: Introduction to Economic Forecasting

3.00 Credits

Emphasizes the analytical and practical dimensions of learning how to work with large-scale forecasting models in predicting the behavior of major macroeconomic variables such as GDP, inflation, employment and interest rates. Analytical emphasis on time-series modeling; practical emphasis on hands-on applications using a large-scale econometric forecasting model of the United States economy and an introduction to the use of major private sector and governmental statistical series used in judgmental forecasting. Designed both for economics and management majors at graduate and advanced undergraduate levels and for those desiring a business-oriented approach to macroeconomics less theoretical in content than 241. Also see Enrollment Requirements.

ECON 543: Labor-Management Relations

3.00 Credits

Analyzes the economic and institutional aspects of collective bargaining and their impact on the economy. Focuses on attitudes and policies of unions and management, negotiation and grievance procedures in both unionized and non-unionized firms and public policies toward collective bargaining. Also see Enrollment Requirements. Also see Enrollment Requirements.

ECON 545: Experimental Economics

3.00 Credits

Experimental economics studies economic and social behavior in a controlled laboratory or field environment. The course covers the methodology of experimental economics and its application to testing and analyzing various economic and social institutions and environments and the incentives they create. The course content includes a comprehensive overview of the existing literature in experimental and behavioral economics. The students will both participate in experiments first-hand in order to gain an in-depth understanding of experiment design and will design their own experiments as part of their research and evaluation projects.

ECON 551: Economic Development of Latin America

3.00 Credits

An exploration of the economic conditions of Latin America since World War II with special emphasis on current programs and policies aiming at the acceleration of economic development. Major attention to such problems as trade, inflation, industrialization, income distribution and integration. Also see Enrollment Requirements.

ECON 552: European Economic Environment and Integration(Leuven)

3.00 Credits

Characteristics of West European economics. Traditional theories of integration; free trade, customs union and common market. The main common policies; CAP, EMS, industrial policy, the budget, and cohesion. External economic relations of the EC.

ECON 561: Mathematical Economics

3.00 Credits

Topics include matrix algebra, Cramer's rule, Jacobean determinants, inverse functions, total differentials, the implicit function theorem, derivatives of general functions, relative extrema with several variables, quadratic forms, concave and convex functions, constrained maximization and bordered Hessian, quasi-concavity and quasi-convexity. Emphasis on mathematical modeling of intermediate level economic theory and comparative statics of such models. Also see Enrollment Requirements.

ECON 563: Principles of Econometrics

3.00 Credits

ECON 563 Econometric Models (3) Lecture Construction and testing of economic models: Regression theory, parameter estimation, and statistical techniques applicable to economic models.

ECON 564: Benefits & Compensation

3.00 Credits

Examines the integral parts of total compensation packages as they exist within the various economic sectors. Rationale for design and implementation of cost-effective compensation benefits programs. Explores specifics of wage and salary program structure and administration within the framework of existing business and economic climates. Also see Enrollment Requirements.

ECON 580: International Trade

3.00 Credits

An introduction to international trade theory covering Ricardian, Heckscher-Ohlin and new theories of trade; tariffs and commercial policy; factor movement and regional economic integration. Also see Enrollment Requirements.

ECON 581: International Finance

3.00 Credits

Topics include foreign exchange markets and balance of payments statistics, multinational banking and Eurocurrency markets, the monetary approach to balance of payments adjustments, internal and external balance through monetary and fiscal policy, the international monetary system, the need for a national monetary system and the need for a new international economic order. Also see Enrollment Requirements.

ECON 582: Economic Integration Movements

3.00 Credits

Concerned with understanding the nature of the integration movement over the past ten years. Specifically, studies the major economic blocs, analyzing their structural development, similarities and differences, as well as the consequences for growth, monetary and fiscal policies and financial markets. Concludes with an evaluation of the impact these blocs have on the rest of the world. Also see Enrollment Requirements.

ECON 583: History of Economic Thought

3.00 Credits

ECON 583 History of Economic Thought (3) Lecture Concentrates on the development of economic thought primarily from the sixteenth century to present day. Reading and discussion of classical sources in political economy raise questions about roles of ideology, science, philosophy in the evolution of different schools of economic thought. Intended to provide opportunity for students to formulate, articulate, and justify a personal response to these questions.

ECON 584: Economics and Finance in Emerging Markets

3.00 Credits

Analyzes the most salient features of emerging economies. These include prospects for economic growth, how to deal with volatility, exchange rates and currency crises, inequality and political stability and currency, country and political risk. Also see Enrollment Requirements.

ECON 595: Applied Research Project

3.00 Credits

no description available

ECON 629: Strategic Planning & Control of Organizations

3.00 Credits

Objectives include an analysis of methods and techniques of strategic planning, medium-range programs and short-run operation plans of an enterprise; an evaluation of control management which involves establishing standards and the process of effective and efficient implementation of the business plan; an illustration of application of methods and techniques of planning and control by case studies. Also see Enrollment Requirements.

ECON 648: Growth & Development Theory

3.00 Credits

A comparative analysis of theories of growth and development. Presents different theoretical topics: models of economic growth, models of interaction between technological and institutional changes and economic growth and the interaction between consumption, capital formation and welfare aspects of economics. Also see Enrollment Requirements.

ECON 660: Human Resource Development and Training

3.00 Credits

no description available

ECON 661: Advanced Mathematical Economics

3.00 Credits

Difference and differential equations, stability properties of dynamic systems, optimization over time, the calculus of variations, dynamic programming, optimal control and the maximum principle. The application of dynamic optimization techniques to models of capital accumulation and economic growth. Introduction to stochastic models. Also see Enrollment Requirements.

ECON 662: Graduate Statistics

3.00 Credits

Designed to provide graduate students with extensive exposure to methods of estimation and testing of hypothesis of economic relationships. Covers distribution theory and its application in simple and multiple equation models and the limitations of the models. Introduces computer programs to solve statistical problems. Also see Enrollment Requirements.

ECON 673: Human Resources Management

3.00 Credits

Select topics presented by the instructor for the development of a research paper to be submitted by the student. Student's interests included in the selection of topics. Prerequisites: All required courses (nine) in the Human Resources Management Program.

ECON 711: Advanced Microeconomic Theory I

3.00 Credits

Fundamentals of microeconomic theory. Focus on methodology, consumer equilibrium, producer equilibrium market structuring and factor supply equilibrium. Also see Enrollment Requirements.

ECON 712: Advanced Macroeconomic Theory I

3.00 Credits

Fundamentals of macroeconomic theory and mathematical models as developed in neoclassical, Keynesian and monetarist thought. Focus on equilibrium analysis. Also see Enrollment Requirements.

ECON 721: Advanced Microeconomic Theory II

3.00 Credits

The study of models of imperfect competition, linear production processes, general equilibrium and the stability of market equilibria, welfare economics, optimal allocation of resources over time and introduction to stochastic microeconomic models. Also see Enrollment Requirements.

ECON 722: Advanced Macroeconomic Theory II

3.00 Credits

Use of dynamic analysis in macroeconomic theory and stabilization policy, asset accumulation and expectations in dynamic macro models, the government budget constraint, one-sector and two-sector models of economic growth, money and economic growth and optimum growth. Also see Enrollment Requirements.

ECON 756: International Trade Theory

3.00 Credits

Analyzes in detail the theory of international trade and the directions of trade, prices and commodities trades. Stresses effects of tariffs and quotas on employment and income. Also see Enrollment Requirements.

ECON 757: Advanced International Finance

3.00 Credits

Analysis of the balance of payments and the adjustment to national and international equilibria through changes in price levels, exchange rates and national income; capital movements and the balance of international indebtedness; fixed versus flexible exchange rates and exchange controls; macroeconomic policy in open economics. Also see Enrollment Requirements.

ECON 763: Econometrics I

3.00 Credits

Studies estimation of linear models under the classical ordinary least square assumptions and under violations of one of these assumptions. Topics include multicollinearity, specification error, heteroscedasticity, generalized least square, serial correlation, distributed lags and introduction to simultaneous equations. Discusses maximum likelihood estimation. Also see Enrollment Requirements.

ECON 764: Econometrics II

3.00 Credits

First part focuses on advanced topics of single equation estimation including lagged variables, nonlinear estimation, pooling cross-section and time-series data, maximum likelihood and limited dependent variable models. Topics in the second part include multi-equation identification and estimation and introduction to simulation models. Also see Enrollment Requirements.

ECON 993: Seminar: Economics

3.00 Credits

Students are expected to improve their potential for carrying on independent research by intensive readings in relevant economic literature and the formulation and development of research topics, including suggestions of proper research methods and techniques. Grade will be based upon the quality of the research paper. Evaluation of research papers as follows: M.A. students, one faculty member; Ph.D. students, two faculty members. Prerequisites: M.A., all required courses (five); Ph.D., all required courses (seven) plus three courses in major area.

ECON 994: Seminar in Economic Analysis

3.00 Credits

Designed to develop the students' abilities to conduct relevant theoretical and empirical research in their field of concentration. Students required to intensively research the economic literature relevant to a research topic of their own selection. Prerequisites: M.A., all required courses (five); Ph.D., all required courses (seven) plus three courses in major area.

ECON 996: Directed Reading

3.00 Credits

no description available

ECON 997: Dissertation - Doctoral

0.00 Credits

As part of dissertation guidance, a non-credit participation in graduate economic seminars is available to Ph.D. candidates to facilitate the preparation and defense of thesis proposals and to provide a forum for an exchange of research experience within the department.

ECON 998: Dissertation - Doctoral

0.00 Credits

As part of dissertation guidance, a non-credit participation in graduate economic seminars is available to Ph.D. candidates to facilitate the preparation and defense of thesis proposals and to provide a forum for an exchange of research experience within the department.