Economics

Economics is the study of how people choose to use scarce resources and examines how individuals and businesses react to incentives. It is a social science analyzing how consumers decide what to purchase, how firms decide what to produce and how the market system allocates resources.

Required Courses

BUS 205-Legal Environment of Business (SS)

The course presents an overview of the obligations and restraints imposed by law on businesses, as well as the rights and opportunities which are conferred. Students will gain insights into the legal environment in which businesses operate and the application of legal rules to resolve different issues.

- 3 semester hours

MGT 302 or MGT 321

MGT 302- Production and Quality

Prerequisite: MGT 271

In the era of global competitiveness, this course addresses the principles and management challenges associated with production, including manufacturing and the creation of value-added services. The framework for analysis will include total quality systems such as Lean, Six Sigma and TPS.

- 3 semester hours, normally offered spring semester

MGT 321- Supply Chain Logistics

Prerequisite: MGT 271

The course studies the business activities that support the flow of products, supplies and raw materials throughout the supply chain. Topics include inventory control, corporate traffic management, warehousing, packaging, materials handling and procurement. Customer service quality and leading-edge logistics practices are emphasized.

- 3 semester hours

ECO 301- Money and Financial Markets (SS)

Prerequisite: ECO 101-102

The nature of money, monetary standards, the commercial banking system, the Federal Reserve, monetary theory and policy and fiscal policy.

- 3 semester hours

ECO 305- Intermediate Microeconomics (SS)

Prerequisite: ECO 101-102

An in-depth examination of theory of consumer behavior, production cost and the pricing of goods.

- 3 semester hours, normally offered fall semester

ECO 306- Intermediate Macroeconomics (SS)

Prerequisite: ECO 101-102

A study of classical, Keynesian and monetarist models as these pertain to aggregate behavior in the achievement of society’s economic goals.

- 3 semester hours, normally offered spring semester.

ECO 320- International Economics (SS)

Prerequisite: ECO 101-102

The economic basis for trade among nations; comparative advantage, exchange rate systems, balance-of-payments, trade barriers, investment and development, and international economic policies.

- 3 semester hours, normally offered fall semester

ECO 330- Economics of Government (SS)

Prerequisite: ECO 101-102

Allocation, distribution and stabilization aspects of government budget policy, including critical analysis of theories and principles of taxation, expenditures and intergovernmental fiscal relations.

- 3 semester hours, normally offered spring semester

ECO 350- Economics of Growth and Development (SS/WI)

Prerequisite: ECO 101-102

A study of the growth of national income (i.e. economic growth) and changes in the technical and institutional arrangements by which it is produced (i.e. economic development). The main focus of the course rests on the non-Western third world countries.

- 3 semester hours, normally offered fall semester