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Economics

107 Gardner Hall, CB# 3305
(919) 966-2383

NOTE: ECON 101 or equivalent is a prerequisite to all courses numbered above the 100 level. ECON 400 and 410 with a grade of C or better are a prerequisite for courses above 420. Courses designed for specific majors are ECON 310 for Management and Society majors and any 400 or 500 level courses for Economic majors. Only one in each of the following groups may be taken for graduation credit: 310 or 410; 320 or 420; 320 or 423; 340 or 440; 345 or 445; 380 or 480.

First Session, 2020

ECON 101 Introduction to Economics (3)

Introduction to fundamental issues in economics including competition, scarcity, opportunity cost, resource allocation, unemployment, inflation, and the determination of prices.

ECON 400 Introduction of Statistics and Econometrics (3)

Prerequisites, ECON 101, STOR 155, and one of MATH 152, 231, STOR 112 or 113. Comprehensive introduction to statistics, including descriptive statistics and statistical graphics, probability theory, distributions, parameter estimation, hypothesis testing, simple and multiple regression, and use of powerful statistical estimation software.  This course includes a substantial introduction to basic econometrics.

ECON 410 Intermediate Theory: Price and Distribution (3)

Prerequisites, ECON 101, and one of MATH 152, 231, STOR 112 or113.  The determination of prices and the distribution of income in a market system. Students may not receive credit for both ECON 310 and 410.

ECON 420 Intermediate Theory: Money, Income, and Employment (3)

Prerequisite, ECON 410 with a grade of C or better.  An introduction to contemporary macroeconomic concepts and analysis.  Topics include the level, fluctuations, and growth of national income, and monetary and fiscal policies designed to achieve economic goals. Students may not receive credit for both ECON 320 and 420.

ECON 460 International Economics (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.  An introduction to international trade, the balance of payments, and related issues of foreign economic policy.

ECON 465 Economic Development (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required. Permission of the instructor for students lacking the prerequisites. An introduction to the economic characteristics and problems of the less developed countries and to the theories and policies applicable to the developing economy.

ECON 468 Principles of Soviet and Post-Soviet Economic Systems (3)

MAYMESTER. Prerequisites, ECON 400, and 310 or 410; a grade of C or better in ECON 400, and 310 or 410 is required.  Study of the principles, design, organization, and performance of state-controlled economies relying on planning or regulated markets, with an emphasis on continuity and post-communist transition.

ECON 485 Economics of Sports (3)

MAYMESTER. Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required. Applies microeconomic techniques to professional and amateur sports through the examination of real-world issues and problems. Employs statistical analysis to test some of the theoretical predictions of the models in the sports literature.

ECON 486 Gender and Economics (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required. This course uses basic microeconomic theory and recent empirical studies to examine the causes and consequences of gender differences in economic outcomes. Topics covered may include family formation and dissolution, fertility decisions, human capital investment, labor force participation, the gender earnings gap, and occupational choice.

ECON 490 The Economics Effects of Pandemics (3)

Prerequisites: C grade or higher in ECON 400 and ECON 410. In this course, student will conduct research on the economic impacts of past epidemics to explore the potential effects of the COVID-19 pandemic on individuals and the local and global economies. This course offers students the opportunity to analyze the pandemic’s economic implications and to explore and develop their own policy recommendations for COVID-19.

ECON 570 Applied Econometric Analysis (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.  Statistical methods in the construction, estimation, testing, and application of linear economic models; computer programs and interpretation of their output in empirical analysis of common economic theories.

Second Session, 2020

ECON 101 Introduction to Economics (3)

Introduction to fundamental issues in economics, including competition, scarcity, opportunity cost, resource allocation, unemployment, inflation, and the determination of prices.

ECON 400 Introduction of Statistics and Econometrics (3)

Prerequisites, ECON 101, STOR 155, and one of MATH 152, 231, STOR 112 or 113. Comprehensive introduction to statistics including descriptive statistics and statistical graphics, probability theory, distributions, parameter estimation, hypothesis testing, simple and multiple regression, and use of powerful statistical estimation software. This course includes a substantial introduction to basic econometrics.

ECON 410 Intermediate Theory: Price and Distribution (3)

Prerequisites, ECON 101, and one of MATH 152, 231, STOR 112, or 113.  The determination of prices and the distribution of income in a market system. Students may not receive credit for both ECON 310 and 410.

ECON 411 Game Theory (3)

Prerequisite, ECON 410 with a grade of C or better, or COMP 550, POLI 287, or POLI 288; permission of the instructor for students lacking the prerequisite. Game theory is the study of strategic interactions, where the best choice for the individual depends directly on what other individuals are doing. This course formalizes strategic interactions as mathematical games. Students examine the concept of a strategy, examine what it means to be rational or irrational, and define solution concepts that correspond to different assumptions.

ECON 420 Intermediate Theory: Money, Income, and Employment (3)

Prerequisite, ECON 410 with a grade of C or better.  An introduction to contemporary macroeconomic concepts and analysis.  Topics include the level, fluctuations, and growth of national income, and monetary and fiscal policies designed to achieve economic goals. Students may not receive credit for both ECON 320 and 420.

ECON 425 Financial Economics (3)

Prerequisites, ECON 400, 410, and 420; a grade of C or better in ECON 400 and 410 is required. How does a risk averse individual allocate their funds? Students begin by defining and measuring risk, making connection to their microeconomics training. They then develop and use asset pricing models to explore the interplay between risk and return. Finally, students use these tools to develop a mean-variance optimal portfolio allocation. Students are introduced to basic quantitative tools and participate in myriad practical applications.

ECON 480 Labor Economics (3)

An introduction to the field of labor economics with emphasis on how the interactions between firms and workers influence wages, employment, unemployment, and inflation. Students may not receive credit for both ECON 380 and ECON 480.