Nature and scope of economics; national income accounting; problems of unemployment and price instability; public revenues and expenditures; money and banking; fiscal and monetary policies to promote stability and economic growth.
Principles of economic reasoning; supply and demand analysis; theories of production; price and output determination under each of the four market structures; factor returns and income distribution theories; public policy implications.
A study of the application of economic analysis to managerial decisions. Topics include the firm and its environment, demand estimation, production and cost analysis, optimization and profit maximization, analysis of markets, pricing strategy and analysis of project decisions.
Monetary theory; study of financial institutions and central bank authorities; monetary policy and its limitations; changing structure of financial markets and industry; relationships between money, prices and national income.
The economics of public finance, including taxation, public expenditures and fiscal policy. Rationale and objectives of government activity in a market system; distribution of tax burden; income redistribution effects of taxation and expenditure programs.
This course examines the application of economic analysis to problems of air, water, forests, fisheries, energy, and soil use; economic approaches to valuing the environment; the benefits and costs of pollution control; and alternative policy approaches to environmental problems with emphasis on emissions trading.
Theory of demand; consumer choice and utility analysis; production and cost analysis; price-output determination under the four market structures; resource allocation; public policy and managerial applications emphasized.
Determinants and measurement of national income; theories of consumption and investment; aggregate economic analysis including IS-LM and aggregrate demand-aggregrate supply models; unemployment and inflation; stabilization policies; economic growth.
This course provides an introduction to the theory and use of regression analysis to solve problems in economics. The classical regression model is developed and extended to multiple regression. Topics include data problems, model specification, multicollinearity, goodness of fit, qualitative independent variables, hetroscedasticity, serial correlation, qualitative and limited dependent variables, and forecasting.
Pure theory of trade and comparative advantage; free trade versus protectionism; trade problems of developing nations; balance of payment accounting; exchange rates; international monetary systems.
Discussion of economic issues, theories and their applications. May be repeated for credit with the approval of the instructor for a total of four credits.