Economics (ECON)

Macroeconomics. This course introduces students to how American economy functions, its role in the global economy, within the context of economic theory, policy and ethics. Gross domestic product, economic prosperity and economic stagnation, unemployment, economic recovery, government finance, including taxes, expenditures, budgeting, borrowing and the twin deficits - budget and trade, will be discussed extensively. Money, banking and credit and their effects on prices are other major topics for discussion and study in relation to major economic theories. Prospects and opportunities for the success of the North American Free trade area, the European Common Market, movement to market economies by the Commonwealth of Independent States and the Eastern European countries, will be discussed extensively. (Formerly ECBU 220).

This course is an introduction to micro economics. Theoretical determines the costs and levels of production and output for a firm and industry under various market structures in order to maximize profits or minimize losses. Distribution of income and the pricing of productive factors; wage determination, rent, interest and profits are covered. International trade and finance are some of the major topics that are included in the course. (Formerly ECBU 221).

This course examines those economic principles that can assist management in long term and short term decision making. Includes such factors as the functioning of supply and demand, the role of government and fiscal policy, business cycles, the banking system and monetary policy, pricing, competition, cost analysis, movements in international trade, and the role of multinational corporations. (Formerly ECON 328.)

This course introduces students to the operating features and underlying mechanism of national economy. The course provides students with knowledge about the importance of and the interactions among aggregate economic variables. The course also includes discussions on a government’s policies aimed at the improvement of national economy. Students learn in this course how to use basic macroeconomic models for a variety of phenomena in national economy.

This course covers fundamental principles that are necessary for understanding the decision-making process and underlying mechanisms behind market phenomena. Students will learn various theoretical concepts in microeconomics and how theories can be applied to real situations.

Contemporary domestic and international economic issues as viewed by leading scholars and commentators. Not challengeable. (Formerly ECBU 322).

This course introduces students to the basic operating features and underlying mechanism of financial institutions including banks and other financial intermediaries. This course also includes discussions on a government's monetary policies to achieve certain policy goals. Students are expected to emerge out of the course with crucial understanding on the forces that have driven the evolution of monetary and financial systems. This course will require students to acquire both informational knowledge on the subject issues and analytical skills to interpret and handle the challenging monetary environment. (Formerly ECBU 323).

This course presents to the students the Classical and Contemporary economic philosophies: Capitalism, Marxism, Socialism, and Communism. It covers the mechanics, implications, and outcomes of different economic systems. (Formerly ECBU 324).

This course introduces the theories and policies of balance of payments, rates of exchange, tariffs, quotas, exchange controls, state trading, and international cartels. It illustrates the importance and contribution of international trade to the national economy, and the global economy. Understand free trade and the flow of goods and services among nations, flow of funds for portfolio and real investments among nations. Understand why nations trade, international balance of trade and payments, exchange rates, hard and soft currencies; trade blocks; effects of tariff, quotas, and embargo; rules of international organizations e.g. the World Bank, International Monetary Fund, etc. (Formerly ECBU 325).

This course introduces the economics of public sector. It covers government taxation, expenditures, budgeting, borrowing and debt management; intergovernmental fiscal relations; and effects of fiscal policy on national economy and their effects on individuals, business and the economy.

This course teaches students how to construct, test, and estimate of the single equation econometric model; lest squares estimation, partial and multiple correlation, and specification analysis. The course also provides a background that is necessary to understand the process to build empirical models in economics and other field. It also provides a set of basic and crucial modeling techniques in the field of econometrics.

This is the culminating activity required for economics majors. Papers/theses/projects researched, prepared, and written under the guidance of a faculty member. Comprehensive exams or recitals required in some departments. Academically, Students must be in Good Standing to enroll in 499. Not challengeable.