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Courses in Economics

ECON 101 - PRINCIPLES OF MACROECONOMICS
An introduction to the concepts and analytical tools of the economist. The frame of reference is the macroeconomy. Working with a variety of economic models, attention is focused on issues like the business cycle, interest rates, inflation, deflation, the stock market, Federal Reserve policy-making, government policy, and international trade. Hands-on research projects help students to make connections between economic theory and the real world. Economics 101R and 102R are prerequisites for all other economics ro business courses. Hours credit: 3.

ECON 102 - PRINCIPLES OF MICROECONOMICS
An introduction to the concepts and analytical tools of the economist as related to the microeconomy, which focuses on decision-making at the individual level. This course examines the behavior of consumers, firms, and industries, and their effects on resource allocation. Students study various market structures and gain an understanding of market failure and issues pertaining to the role of government at the microeconomic level. Economics 101R and 102R are prerequisites for all other economics or business courses. Hours credit: 3.

ECON 206 - MICROECONOMICS THEORY & ITS APPLICATION
This course examines in detail, producer and consumer theory, market structure, game theory, market failures, and the role of government in marketplace. Special attention is given to using microeconomic theory to analyze modern social and political problems. Hours credit: 3. Prerequisite: Economics 101R, 102R.

ECON 207 - MACROECONOMIC THEORY
An analysis of the aggregate U.S. economy. There is an emphasis on the construction of macroeconomic models to describe and analyze the economy. Such models help to establish the linkages between financial markets, labor markets, markets for goods and services, and markets in the rest of the world. Students gain an understanding of economic policy making through study of theories, institutions and economic data. Hands-on statistical research will help analyze the relationship between economic theory and the real world. Hours credit: 3. Prerequisites: ECON 101R and 102R.

ECON 217 - ECONOMICS OF THE PUBLIC SECTOR
This course studies the nature and consequences of the spending and taxing behavior of governments. Microeconomics tools will be applied to the study of such issues as public goods and externalities, income redistribution, poverty, social security, health care, education, transportation, housing, and government revenue generation. Throughout the semester, students will participate in a class-wide Lynchburg community service project related to one of the above issues, thereby providing hands-on exposure to some of the objectives and constraints faced by economists, government officials, and urban planners. Hours credit: 3. Prerequisites: ECON 101R and 102R. Offered second semester.

ECON 219 - INTERNATIONAL ECONOMICS
On the microeconomic level, this course examines international trade theories and policies. International finance issues comprise the macroeconomic portion of the course. Special attention is given to using the tools of the economist to analyze contemporary problems in both international trade and finance. Hours credit: 3. Prerequisite: Economics 101R and 102R.

ECON 220 - ENVIRONMENTAL ECONOMICS
The application of economic principles in the analysis of contemporary environmental issues. Hours credit: 3. Prerequisite: Economics 101R and 102R. Offered alternate years.

ECON 238 - MONEY & BANKING
This course examines in detail the financial sector of the U.S. economy and the manner in which it is linked to global markets. Particular emphasis is focused on the study of central bank decision-making regarding interest rates and economic stabilization. In a number of simulation exercises using the data analysis tools of the spreadsheet package Excel, students will analyze real economic data with an eye toward determining the appropriate direction of monetary policy. Hours credit: 3. Prerequisite: Economics 101R and 102R.

ECON 242 - LABOR ECONOMICS
A study of the participation of women and men in the U.S. labor force. Labor markets, labor law, and labor organizations will be examined. Topics include labor mobility, wage differentials, inequalities in income distribution, discrimination, and public policy considerations. Hours credit: 3. Prerequisites: Economics 101R and 102R. Offered alternate years. Offered first semester.

ECON 246 - ECONOMICS OF LATIN AMERICA
An introduction to Latin American development. The course will examine the economics of the region from both an historical and a modern perspective. Topics include landholding patterns, agricultural reform, sustainable development, Maquiladora production, non-traditional exports, NAFTA, the role of multilateral institutions (IMF, World Bank, U.S. AID, etc.), international debt, capital flight, and the role of women in development. Hours credit: 3. Prerequisite: Economics 101R and 102R. Offered alternate years.

ECON 273 - GAME THEORY
An introduction to game theory and its applications to economic analysis. The course will provide a theoretical overview of modern game theory and how it is applied in the analysis of strategic behavior in various contexts. Applications include trade, advertising, competition, and collusion. Identical with Mathematics 273. Hours credit: 3. Prerequisite: ECON 101 and 102. One time only. This course does not count toward a major or minor in mathematics.

ECON 303 - ECONOMETRICS
A formal introduction to the use of economic theory and statistical inference as guides in the study of economic phenomena using observed data. This course focuses on the research process and the role of empirical modeling and regression in economics. Hours credit: 3. Prerequisite: Economics 101R and 102R and Mathematics 149R and 227, or permission of the instructor.

ECON 311 - HISTORY OF ECONOMIC THOUGHT
A study of the development of economic thought and theory from the feudalistic period to the 20th century. Emphasis will be on the original writings of economists including Adam Smith, Thomas Robert Malthus, David Ricardo, Jeremy Bentham, John S. Mill, Karl Marx, W.Stanley Jevons, John B. Clark, Alfred Marshall, John M. Keynes, Milton Friedman and others. Extensive economics background is suggested. Hours credit: 3. Prerequisites: 12 hours in Economics, or a combination of 6 hours in Economics with 6 additional hours in European or US History, or permission of instructor. Offered alternate years.

ECON 320 - ADVANCED INTERNATIONAL TOPICS
Advanced discussion, analysis, and empirical verification of international economic theory and policy. Topics include: 1) exchange rate impacts on international trade and 2) distributional impacts of international trade. Hours credit: 3. Prerequisite: ECON 207 or 219. Offered alternate years.

ECON 376 - RESEARCH METHODS ECONMICS & BUSINESS
An empirical investigation of an economics or business problem under the supervision of a member of the Department. Hours credit: 1,2 or 3. Prerequisite: Economics 303 or permission of the instructor. Offered as needed.

ECON 385 - INDUSTRIAL ORGANIZATION
This course focuses on the structure, conduct and performance of the American industry using concepts and techniques of economic analysis. Different market structures such as perfect competition, monopoly, oligopoly and monopolistic competition will be addressed, as well as topics like industry performance, information, advertising, antitrust policy, and regulation. Hours credit: 3. Prerequisite: ECON 206. One time only.

ECON 495 - SENIOR SEMINAR
In the first semester of the senior seminar, students make connections across their previous economics courses through readings and discussions on globalization and history of economic thought. Students gain a better understanding of how economic theories and policies shape the world in which we all live and which future generations will inhabit. A principal course objective is to prepare each student for the preparation and presentation of the senior thesis. To this end, students read and evaluate professional journal articles, review and enhance their understanding of the research methods used by economists, and identify ways to use these methods in their own research. The final assignment for the class is a senior thesis proposal. In the second semester, there is preparation and presentation of a senior thesis. Hours credit: 3. Prerequisite: ECON 206; 207; and 219 and MATH 149R and 227.

ECON 496 - SENIOR PAPER
In the first semester of the senior seminar, students make connections across their previous economics courses through readings and discussions on globalization and history of economic thought. Students gain a better understanding of how economic theories and policies shape the world in which we all live and which future generations will inhabit. A principal course objective is to prepare each student for the preparation and presentation of the senior thesis. To this end, students read and evaluate professional journal articles, review and enhance their understanding of the research methods used by economists, and identify ways to use these methods in their own research. The final assignment for the class is a senior thesis proposal. In the second semester, there is preparation and presentation of a senior thesis. Hours credit: 3. Prerequisite: ECON 206; 207; and 219 and MATH 149R and 227.

ECON 497H - HONORS IN THE MAJOR

ECON 498H - HONORS IN THE MAJOR

 

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