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Salisbury University
A Maryland University of National Distinction
SALISBURY UNIVERSITY

Economics & Finance

Economics & Finance

Economics Course Descriptions

ECON 150 PRINCIPLES OF ECONOMICS, 3 hours credit. A general introduction to economic ideas and analysis with emphasis on economic institutions and processes in the context of a market economy. Includes basic discussion of microeconomic and macroeconomic topics including economic decision making in the context of scarce resources, price theory, monetary and fiscal policy, etc. This course is intended for non-business majors. This course cannot be taken concurrently with or after having completed ECON 211 or 212. Three hours per week. Meets General Education IIIB or IIIC.

ECON 211 MICRO-ECONOMIC PRINCIPLES, 3 hours credit. Introduction to the ideas and tools economists use to understand human behavior constrained by scarce resources.  Analytical tools introduced include supply and demand analysis, elasticities, and models of perfect and imperfect competition.  These tools will be used to study topics such as consumer and producer decision-making, taxation, environmental quality and health care. Three hours per week. Meets General Education IIIB or IIIC.

ECON 212 MACRO-ECONOMIC PRINCIPLES, 3 hours credit. Explores forces behind consumer purchases, businesses, capital spending and the balance of payments and their relationship to unemployment, inflation and the value of the dollar abroad. Also examines the effect of government spending, taxation and money supply policies on the economy’s performance. Prerequisite: C or better in ECON 211 Three hours per week. Meets General Education IIIB or IIIC.

ECON 220 INTRODUCTION TO ECONOMETRICS, 3 hours credit.  Introduction to measurement and empirical testing of economic theories. Principles and methods of statistical inference are reviewed and applied to such ideas as law of demand and the consumption function. Training on widely used statistical software. Prerequisites: MATH 155 "C" or better grade, ECON 212 pre or corequisite. Three hours per week

ECON 300 ECONOMIC HISTORY OF THE UNITED STATES, 3 hours credit.  Study of major developments in the American economy from the founding of colonies to the present, with emphasis on the economic factors contributing to U.S. industrial growth. Prerequisites: C or better in ECON 211, 212. Three hours per week.

ECON 305 INTERMEDIATE MACRO-THEORY, 3 hours credit.  Study of the theory of economic aggregates through the use of national income accounts to determine the effect of certain key variables on employment and production. Key variables studied include savings and investment, the quantity of money, the velocity of money, the rate of interest and consumption. Prerequisites: C or better in all of the following: ECON 211, 212, MATH 155, 160 (or 201). Three hours per week.

ECON 306 INTERMEDIATE MICRO-THEORY, 3 hours credit.  Study of supply and demand relationships under the various market classifications. Major topics include the market forms, the principles of production, costs of production, resource allocation and income distribution with some discussion of welfare economics. Prerequisites: C or better in all of the following: ECON 211, 212; and MATH 155, 160 (or 201). Three hours per week.

ECON 331 MONEY AND BANKING, 3 hours credit.  Study of financial institutions, economic aspects of commercial banking, monetary economics, and banking and fiscal policy. Prerequisites: C or better in ECON 211, 212. Three hours per week.

ECON 336 PUBLIC SECTOR ECONOMICS, 3 hours credit.  Study of the principles, techniques and effects of obtaining and spending funds by governments and the management of governmental debt. Taxes and expenditures of all levels of government in the United States considered. Prerequisites: C or better in ECON 211, 212; MATH 155, 160 (or 201). Three hours per week.

ECON 338 SPECIAL TOPICS IN ECONOMICS, 3 hours credit.  In-depth study of varying economic issues not covered in other economics courses. Students may repeat this course under a different topic. Prerequisites: C or better in ECON 211, 212. Three hours per week.

ECON 370 INDUSTRIAL ORGANIZATION, 3 hours credit.  Examines differences in how firms behave and perform under alternative market structures including monopolistic competition, oligopoly, monopoly and pure competition. Analyzes problems created by industrial concentration and public policies for dealing with these problems. Prerequisites: C or better in ECON 211, 212; MATH 155, 160 (or 201). Three hours per week.

ECON 381 LABOR ECONOMICS, 3 hours credit.  Examination of factors which influence the number of job seekers and the number of jobs in the aggregate, and the efficiency with which the economic system utilizes its labor resources. Topics include individual decision-making with regard to education, job search strategy and hours of work as well as government policies affecting labor compensation, welfare and the right to bargain collectively. Prerequisites: C or better in ECON 211, 212; MATH 155, 160 (or 201). Three hours per week.

ECON 402 COMPARATIVE ECONOMIC SYSTEMS, 3 hours credit.  Comparison of contemporary economic systems in various parts of the world.  Includes a review of the core economic principles used used to analyze economic systems and adopts a country- or region-specific approach to examine the tri-pillars of the world economy: the U.S., Japan and EU; developing and emerging economies in East Asia and Latin America; and the transitional economies of China and Russia.  Focus is on the international comparison of economic systems in terms of its influence on economic outcomes such as resource allocation and macroeconomic stability.  Prerequisites: C or better in ECON 211, 212. Three hours per week.

ECON 403  MONETARY POLICY AND THE U.S.ECONOMY, 3 hours credit.  Introduction to how the Federal Reserve (the Fed) formulates and carries out monetary policy to achieve the twin goals of price stability and sustainable economic growth in order to expand and advance students' understanding of monetary policy in the economy.  Coverage includes how policy is transmitted to the nation's economy through the banking system and financial markets, the domestic and international economic environment that influences monetary policymaking, and the implications of policy decisions for the domestic and international economies.  Relevant macroeconomics and monetary theories to guide policy decisions are examined.  Prerequisites: C or better in ECON 211, 212; Prerequisite/Co-requisite: ECON 305. Three hours per week.

ECON 410 THE ECONOMICS OF HEALTH CARE, 3 hours credit.  Examines economic aspects of health care including special characteristics of the health care industry, economic behavior of health care consumers and providers, and the role of health insurance and government regulation. Compares health care finance and insurance in the U.S. and other advanced countries. Prerequisites: C or better in ECON 211, 212, Math 155, Math 160 (or 201). Three hours per week.

ECON 411 ECONOMIC DEVELOPMENT, 3 hours credit.  Study of the theory of economic development and its application to the underdeveloped regions and countries of the world. Emphasis on the technological, locational and financial aspects of economic growth. Prerequisites: C or better in ECON 211, 212; MATH 155, 160 (or 201).Three hours per week.

ECON 415 ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS, 3 hours credit.  Economics-based analysis of causes and consequences of environmental problems and environmental policy and a study of the critical issues in natural resource allocation. Topics include common pool resources, externalities, property rights, exhaustible and renewable resources, privatization and the economics of environmental policy formation. Students may not receive credit for both ECON 415 and 420. Prerequisite: C or better in ECON 211. Three hours per week.

ECON 420 GAME THEORY, 3 hours credit. Provides the tools and abilities to enhance aptitude for strategic thinking.  Coverage includes sequential and Simultaneous move games, mixed strategies, repeated games, etc.  Prerequisites:  C or better in ECON 211, Econ 212, MATH 155, MATH 160 (or 201).  Three hours per week.

ECON 425 SPORTS ECONOMICS. 3 hours credit.  Covers a broad range of issues in the economics of sports.  Topics include the market structure of sports, labor relations between owners and players,  public subsidies to professional sports franchises, competitive balance, tournament structure, discrimination, and behavioral analysis of decision making in sports.  Prerequisites:  C or better in ECON 211, ECON 212, MATH 155, MATH 160 (201).  Three hours a week.

ECON 430 ECONOMETRICS, 3 hours credit.  Stresses the derivation of the theory behind concepts learned in ECON 220 and introduces more rigorous application of those concepts. Introduction to the theory and application of time series and limited dependents variable models. Prerequisites: C or better in ECON 211, 212; MATH 155, 160 (or 201), INFO 281. Three hours per week.

ECON 441 INTERNATIONAL ECONOMICS, 3 hours credit.  Study of the basic economic concepts and theories for international business, international trade and finance, commercial policy, and foreign investment and multinational firms. Prerequisites: C or better in ECON 211, 212,  MATH 155. Three hours per week.

ECON 460 APPLIED ECONOMICS WORKSHOP, 3 hours credit.  Practical experience with methods used by professional economists to measure economic conditions. Students collect, process, evaluate, interpret and report economic data. Satisfies ABLE requirement for business majors in economics track only. Prerequisites: C or better in ECON 211, 212; MATH 155, 160 (or 201), INFO 281. Three hours per week.

ECON 490 ECONOMICS INTERNSHIP, 3 hours credit.  Intern experience in economics.  Prerequisites:  Business economics major, placement approval and permission of the department chair, completion of ABLE Office administrative requirements, successful completion of BUAD 300.  Three hours per week.

ECON 492 SENIOR SEMINAR IN CONTEMPORARY ECONOMIC PROBLEMS, 3 hours credit.  Economics majors research problems of their own choosing and present a seminar paper. Focus on problems facing the American and world economies. Prerequisite: Economics major or consent of instructor. Three hours per week.

ECON 494 DIRECTED STUDY IN ECONOMICS 1-3 hours credit.  Supervised study in an area of interest to the advanced student. May be taken twice under different course topics recorded with the registrar. Prerequisite: Junior/senior status in economics/business administration or consent of the instructor.

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