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Courses

Course descriptions listed on this page for the Department of Economics and Accounting are from the 2017-2018 College Catalog. For more information on the courses offered during the fall and spring semesters, please log in to the course schedule through STAR.

Economics Courses

Economics 110 - Core Principles of Economics
Alternate years
Economics is the study of the allocation of scarce resources among competing uses. Microeconomics investigates how households and firms make individual and social decisions concerning the allocation of resources through their interactions in markets. Macroeconomics studies national level economic issues such as growth, inflation, unemployment, interest rates, exchange rates, technological progress, and government budgets. This course introduces the central topics of both microeconomics and macroeconomics in one semester. The purpose of the course is to provide a basic understanding of economics for students who are not economics majors. One unit.

Introductory Courses

Economics 111 - Principles of Macroeconomics
Fall, spring
This course is designed to introduce classic macroeconomic issues such as growth, inflation, unemployment, interest rates, exchange rates, technological progress, and budget deficits. The course provides a unified framework to address these issues and to study the impact of different policies, such as monetary and fiscal policies, on aggregate economic performance. These analytical tools will be used to understand the recent experience of the United States and other countries and to address how current policy initiatives affect macroeconomic performance. One unit.

Economics 112 - Principles of Microeconomics
Fall, spring
Economics is the study of the allocation of scarce resources among competing uses. Microeconomics investigates how households and firms make individual and social decisions concerning the allocation of these resources through their interactions in markets. The purpose of this class is to introduce the important topics in this area of economics including supply and demand analysis, production possibility sets, utility and profit maximization, differences in short and long run outcomes, the effect of government intervention, imperfect markets, externalities, and gains from trade. One unit.

200-Level Electives

Economics 205 - Economics of Development
Alternate years
Students learn to use economic models to understand various aspects of the development process, including capital accumulation, the demographic transition, the role of agriculture, rural to urban migration, income distribution issues, environmental concerns, provision of basic human needs, and the role of education and health care. Students choose a country to follow for the semester, for which they find, analyze, and present data. Students are also grouped by region for joint presentations on regional development. Prerequisites: Economics 111, 112. One unit.

Economics 210 - Economics of European Union
Alternate years
Applies economic theory (e.g., market equilibrium, externalities, optimal exchange rate arrangements, and welfare effects of free trade) to understand multiple facets of the process of the EU integration. Discusses the history of European integration (with the emphasis on political motivations of different national and political leaders); free mobility of goods, services, capital, and labor; regional income inequality; trade and environmental issues related to Common Agricultural and Common Fisheries Policies; the Euro; labor market policies and unemployment; sustainability of the government-provided pension systems; and the EU as a political player on the world stage. Prerequisites: Econ 111, 112 or 199. One unit.

Economics 216 - Economics of War and Peace
Alternate years
Economic principles are applied to better understand the causes and consequences of war and how to foster peace. Among the topics covered are historical and contemporary trends of violent conflicts in global society including wars between and within states, genocides, and terrorism; key interdependencies between economics and violent conflicts; economic conditions that enhance and inhibit the risk of war; and methods for promoting and sustaining peace. One unit.

Economics 221 - Economic Development of Modern China
Annually 
Aims to provide the student with a sophisticated understanding of economic development in China. The historical circumstances and resource endowments which have constrained Chinese economic development are examined as a basis for analyzing the intentions and success of policies adopted since 1949. Prerequisites: Economics 111, 112, or permission. One unit.

Economics 222 - Health Economics
Alternate years
Explores the health care sector and health policy issues from an economic perspective. Topics include the production of and demand for health and health care, moral hazard and adverse selection in insurance markets, information asymmetries in physician-patient relationships, regulation and payment systems for providers, medical technology, the pharmaceutical industry, Medicare, Medicaid and other social insurance programs, and national health care reform and comparisons to other countries. Prerequisites: Economics 111, 112. One unit.

Economics 224 - Environmental Economics
Annually
Shows how natural resource usage and environmental issues can be analyzed from an economic perspective. Presents the basic concepts of environmental economics and develops the analytical and policy tools used in environmental economics. Considers the problems of air pollution, water pollution and solid and hazardous waste management, their causes and how they can be reduced. Other topics such as global warming, amendments to the Clean Air Act and international environmental issues will be discussed. Prerequisites: Economics 111, 112. One unit.

Economics 229 - Economics of Sports
Annually
Applies economic tools to study the field of professional and collegiate sports. Topics include the organization of sports leagues, profit maximization by teams, the application of antitrust to sports, competitive balance, labor relations, gender and racial discrimination, the tension between academics and athletics at universities and the economic impact of sports on local economies. Special emphasis is placed on the relationship between law and economics in sports and the regulation of leagues and athletes. Prerequisites: Economics 111, 112. One unit.

Economics 230 - Financial Markets and Institutions
Annually
A basic introduction to the main features of financial institutions and markets in the United States. First part covers interest rates, including rate of return calculations, how markets determine the overall level of interest rates and why different securities pay different interest rates. Second part covers financial markets and the assets that are traded on those markets, including the money, bond, stock and derivatives markets. Last section details workings of some financial institutions, including banks, mutual funds and investment banks. When discussing these institutions, particular attention is paid to conflicts of interest. Prerequisites: Economics 111, 112. One unit.

Statistics and Intermediate Theory

Economics 249 - Statistics
Fall, spring
An introduction to statistical methods emphasizing the statistical tools most frequently used in economic analysis. Topics include descriptive statistics, probability theory, random variables and their probability distributions, estimation, hypothesis testing and linear regression analysis. Students may take MATH 376 in place of this course but may not take both courses. Prerequisites: Economics 111 or 112. One unit.

Economics 255 - Microeconomics
Fall, spring
Analyzes the economic behavior of households and firms and their interrelations within the market. Price and resource allocations in the following market structures are considered: pure competition, monopolistic competition, oligopoly, monopoly and monopsony. Concludes with a discussion of general equilibrium and its welfare implications. Prerequisites: Economics 111, 112; the Calculus requirement described above. One unit.

Economics 256 - Macroeconomics
Fall, spring
Studies aggregate economic behavior as determined by interactions among the product, financial and labor markets. Variables focused upon are the general levels of prices, of national income and of employment. Applications of the theory are made and policy inferences are drawn with respect to employment and price stability, growth and development, trade and the global economy. Prerequisites: Economics 111, 112; the Calculus requirement described above. One unit.

200-Level Electives

Economics 299 - Special Topics in Economics
Alternate years
Courses explore various topics. The subject and format varies by offering. One unit.

300-Level Electives

Economics 302 - Industrial Organization and Public Policy
Alternate years
Studies the theoretical and empirical relationships among market structure, conduct and performance in American industry. The knowledge gained is used to evaluate U.S. antitrust policy. A number of industry case studies and landmark court decisions are read. Prerequisite: Economics 255. One unit.

Economics 303 - Labor Economics
Alternate years
Analyzes the labor market and the allocation of human resources. Topics include theories of unemployment and job search, wages, unions, income inequality and poverty, education, discrimination, immigration, household economics, and major issues of public policy. Prerequisite: Economics 249, 255. One unit.

Economics 304 - Law and Economics
Annually
Examines the relative efficiency of alternative legal arrangements using microeconomics as the basic investigative tool. Core of the course consists of a thorough analysis of the common law. Special emphasis is given to the areas of property, contract, liability and criminal law. Prerequisite: Economics 255. One unit.

Economics 307 - Theory of International Trade
Alternate years
Examines the causes and consequences of the trade of goods and services among nations. Attention is given to the principle of comparative advantage, the Ricardian model of trade, the factor endowments theory of trade, the specific factors model, new theories of trade, the causes and consequences of trade restrictions, economic growth and trade, international factor movements and economic integration. Policy implications are emphasized. Prerequisites: Economics 255, 256. One unit.

Economics 309 - Comparative Economic Systems
Alternate years
First segment develops an analytical framework for the comparison of economic systems. Second segment uses this framework to examine and compare the economic systems of various countries including the United States, Germany, France, Japan, China, the former Soviet Union and other East European states. Prerequisites: Economics 255, 256. One unit.

Economics 312 - Monetary Theory
Alternate years
This course builds a model of the financial sector of the economy, uses it to gain an understanding of the workings of the financial system, and makes predictions of the effects of events on the financial system and economy as a whole. Particular emphasis is placed on understanding the workings of the Federal Reserve System and monetary policy. Thus, this course provides an understanding of the role and measurement of money; the theories of money demand and money supply; the workings of the banking system; interest rate determination; how prices of stocks, bonds and other assets are determined; and the role the financial system plays in the macroeconomy. Prerequisites: Economics 255, 256. One unit.

Economics 314 - Econometrics
Fall, spring
Studies statistical methods used to estimate and test economic models. After a review of basic probability and statistics, the method of ordinary least squares regression is examined in detail. Topics include the Gauss-Markov theorem, inference, multicollinearity, specification error, functional forms, dummy variables, heteroskedasticity and autocorrelation. Simultaneous equations and qualitative dependent variables may also be considered. A quantitative research paper is required. Prerequisites: Economics 249, 255. One unit.

Economics 315 - Political Economy
Annually
This course examines both the inherent limitations of the market and the role public policy plays in achieving social efficiency. In addition to models of externalities and public goods, this course analyzes voting systems, lobbying, redistribution, and optimal taxation. These models are applied to the pollution market, auctions, and insurance. Prerequisites: Economics 255, 256. One unit.

Economics 318 - Game Theory
Annually
Introduces and develops various concepts in the field of game theory with an emphasis on applications to economic problems. Game theory is the study of the behavior of rational, strategic agent-players who must attempt to predict and to influence the actions of other participants. Numerous solving techniques are developed to identify and refine the equilibria in a broad range of “games,’’ including competitive games, cooperative games, bargaining games, games of incomplete and asymmetric information, repeated games, and auctions. Applications will be drawn from diverse fields, including labor economics, finance, industrial organization, and political economy. Prerequisites: Economics 249, 255. One unit.

Economics 320 - History of Economic Thought
Alternate years
Surveys the thoughts and ideas of philosophers and economists throughout history who attempted to understand the workings of what we now call the economy. A long time span is covered, going briefly as far back as the ancient Greek writers, moving through the Scholastics, Mercantilists and Physiocrats, but with a particular focus on the pivotal contributions of the Classical writers including Adam Smith, David Ricardo and Karl Marx. Neoclassical thought is contrasted with institutional and historical critics, leading to the great debate between capitalism and socialism. Changes in macroeconomic theory associated with John Maynard Keynes, the post-Keynesian views of macro and the more modern formulation of microeconomics with its emphasis on econometric analysis round out the course. Prerequisites: Economics 255, 256. One unit.

Economics 324 - Economics of Energy
Alternate years
This course will allow students to develop an understanding of many fields of economics that relate to energy including finance, game theory, microeconomics, and environmental economics. Particular attention will be paid to current day, real-world applications of economics in the energy world. Topics covered include global warming, cartel behavior, cap-and-trade legislation, options and future markets, and the economics of renewable energy sources. Prerequisite: Economics 255. One unit.

300-Level Electives

Economics 325 - Public Economics
Alternate years
This course examines the role of the government in the economy. We will focus primarily on the microeconomic functions of government, investigating tax and spending policies and the impact of these policies on private agents. This course covers a wide range of public policy issues including tax reform, education policy, public health insurance and health care reform, Social Security, and cash welfare. Prerequisites: Economics 249, 255. One unit.

Economics 326 - Economics of the Arts
Alternate years
Examines the markets for the performing and visual arts in the United States. The course begins by utilizing economic tools to analyze supply and demand in these markets, and then covers a number of special topics. Issues considered include copyrights, ticket scalping, performer wages and labor unions, government subsidization of the arts, auctions, art as an investment and the political economy of the arts sector. Prerequisites: Economics 249, 255. One unit.

Economics 328 - Behavioral Economics
Annually
This course presents psychological and experimental economics research demonstrating departures from perfect rationality, self-interest, and other classical assumptions of economics. It explores the implications of these departures and the ways that psychological phenomena can be mathematically modeled and incorporated into mainstream positive and normative economics. Prerequisites: Economics 249, 255. One unit.

Economics 330 - International Finance
Annually
Studies large-scale economic interactions among interdependent economies using advanced theoretical and empirical tools from economics. Addresses topics such as the role of financial traders in exchange rate determination, the impact of monetary and fiscal policies on the international asset position of a country, the role of the International Monetary Fund in promoting economic development and stability around the globe, and the effects of macroeconomic policies of advanced nations on third world and emerging market economies. Prerequisite: Economics 249, 256. One unit.

Economics 399 - Special Topics in Economics
Alternate years
Courses explore various topics. The subject and format varies by offering. One unit.

Economics 400 - Directed Readings in Economics
Annually
A program in reading and research in a specific topic open to majors with a minimum GPA of 3.25. Permission of the instructor is required. One unit.

Honors Program

Economics 460 - Research Methods - Seminar 1
Spring
A department honors seminar that examines the methodology used by economists. Students learn what the economist does by examining specific economic studies. The steps involved in undertaking research and alternative methodological approaches are treated. A high level of student participation is expected. By the end of the seminar the students settle upon topics that they will research in the fourth year and write a prospectus. Counts toward the major as the equivalent of a 200-level economics elective. Prerequisite: Acceptance into the program. One unit.

Economics 461 - Research Methods - Seminar 2
Spring
This is a continuation of Economics 460 and 462. Fourth-year honors students participate for a second time in the seminar by presenting their completed research projects and by serving as resource persons for other honors students. Prerequisites: Economics 460, 462. One-half unit.

Economics 462 - Honors Directed Research
Fall
Honors students undertake a research project under the direction of a department faculty member. The results are presented in the form of a thesis. Counts toward the major as the equivalent of a 300-level economics elective. Prerequisite: Economics 460. One unit.

Accounting Courses

Accounting 120 - QR in Today’s Economy
Fall
Explores contemporary problems in finance, accounting and economics while providing students with opportunities to develop and expand their financial vocabulary and quantitative reasoning skills. Introduces the problem solving strategies and tools used in stock and bond valuation and evaluation of corporate financial performance. One unit. 

Accounting 181 - Financial Accounting
Fall, spring
Introduces the fundamentals of the accounting process. Presents an overview of the accounting cycle, leading to preparation of basic financial statements including the income statement and balance sheet. Examines the proper accounting treatment of the major assets of merchandising and service companies including cash, accounts receivable, inventory, property, plant and equipment. Also includes an examination of economic activity related to liabilities and stockholders’ equity. Introduces the cash flow statement and analysis of basic financial statements. One unit.

Accounting 226 - Operations Research
Alternate years
Acquaints students with decision-making and application of mathematical and statistical techniques to economic problems. Emphasizes optimization of an objective, subject to constraints upon available action. Linear optimization models are treated in depth. Prerequisites: Accounting 277 or Economics 111 and 112. One unit.

Accounting 270 - Governmental and Nonprofit Accounting
Alternate years
Studies accounting and management issues pertinent to state and local government, voluntary health and welfare organizations, other nonprofit organizations, colleges and universities, and private nonprofit hospitals. Prerequisites: Accounting 277. One unit.

Accounting 275 - Corporation Finance
Annually
Provides an overview of two important questions posed to corporate financial managers: 1) what long-term investments should the company make? and 2) how will the company finance those investments? Topics include: stock and bond valuation, financial markets, risk and return, project analysis, capital, dividends and leverage. Prerequisites: Accounting 277 or Accounting 181 and Economics 111 or 112. One unit.

Accounting 277, 278 - Intermediate Accounting
Annually
Offers a thorough study of the proper valuation of assets, liabilities and stockholders’ equity and the related problems of the proper matching of revenues and expenses. Emphasis is given to the preparation, analysis and interpretation of financial statements. Prerequisites: Accounting 181. One unit.

Accounting 282 - Auditing
Annually
Considers the theory and practice of auditing, including professional ethics, professional standards and procedures and the legal environment in which the auditor functions. Emphasis is placed on the audit process as students gain an understanding of how to plan, design and execute an audit. Other topics include internal control, the nature of evidential matter and the auditor’s reporting responsibilities. Prerequisites: Accounting 277. One unit.

Accounting 285 - Accounting Information Systems
Annually
Introduces students to the theory and terminology of information systems, investigates internal controls, security, privacy and ethics in the design, development and usage of information systems and provides students with tools to document and assess existing information systems. Also provides practical experience using database software. Prerequisites: Accounting 277. One unit.

Accounting 292 - Federal Income Taxation
Annually
A study of the federal income tax laws as they relate primarily to individuals. Consideration is also given to the history of the federal income tax, various proposals for tax reform, the use of tax policy to achieve economic and social objectives and tax planning. Prerequisites: Accounting 277. One unit.

Accounting 360 - Ethics, Accounting and Organizations
Annually
The course examines topics of current interest in organizational and professional ethics with particular attention focused on accountancy. The role of moral philosophy from the perspective of multiple ethical frameworks is discussed in terms of individual and public debates about controversial issues, such as the professional obligation, the responsibilities of individuals in government and corporations, and the role of the corporation as a “legal person." The goal of the course is to help students think, speak, and write clearly in the form of organizational and professional ethics. Prerequisites: Accounting 278. One unit.

Accounting 387, 388 - Business Law
Annually
(Based on the Uniform Commercial Code) Includes contracts, agency, sales, negotiable instruments, the legal aspect of business associations, insurance and property, both real and personal. Prerequisites: Accounting 277. One unit each semester.

Accounting 389 - Cost Accounting
Annually
A study of cost systems, activity-based management and management evaluation systems. Emphasis is on managerial control through the use of accounting data. Prerequisites: Accounting 277. One unit.

Accounting 390 - Advanced Accounting
Annually
Covers advanced problems relating to partnership formation, operation and liquidation; a study of corporate business combinations and consolidated financial statements under the acquisition method; and other accounting topics such as accounting for derivatives and foreign currency transactions, consolidation of foreign subsidiaries, segment reporting and governmental and not-for-profit accounting. Prerequisites: Accounting 278. One unit.

Accounting 400 - Directed Readings in Economics-Accounting
Annually
A program in reading and research in a specific topic open to majors with a minimum GPA of 3.25. Permission of the instructor is required. One unit.

Accounting ACCT 185 - Excel Accounting Lab
Annually
Offers an opportunity to use Excel spreadsheet tools to explore financial statements, build financial models, value transactions and evaluate economic opportunities. Provides additional development of the quantitative reasoning and technical skills introduced in the financial accounting coursework. Overload. One-quarter unit.