Consideration of personal income, expenditures, borrowing, savings and investments. (Students majoring in this department may not receive credit toward the major for this course.)
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Macroeconomic Principles
An introduction to the study of the operation of the economy as a whole. Analysis of theories of government expenditure and tax policy and monetary policy as tools to promote economic stability. Topics include national income accounting, unemployment, inflation, money supply and interest rates, and the national debt.
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Microeconomic Principles
An introduction to economic analysis focusing on individual units households, firms and industries or individual markets in the economy. The role of the price system in explaining behavior of these units and applications of price theory to current microeconomic issues including labor unions, government regulation of businesses, environmental protection, income distribution and poverty.
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Statistics
Methods of presenting, summarizing and interpreting data. Probability and probability distributions, sampling theory, parametric tests, regression and correlation, and time series analysis.
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Urban Economics
Survey of economic analysis in its application to urban problems. Causal factors creating urban dilemmas and the policy alternatives available for improving the quality of urban life. Impact of envi-ronmental, social and political issues on economic solutions to urban problems.
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Public Finance
Prerequisite: Economics 21
Microeconomic analysis of government expenditure and tax policies, with attention to Social Security, national health insurance, welfare programs, individual income tax and other current topics.
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Money and Banking
Prerequisite: Economics 21
Institutional and historical study of the nation's monetary system, including definition of money, an overview of the financial markets, activities of the nonbank intermediaries, the banking system and central banking. Analysis of effects of money and finance on output, prices and economic growth.
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Economic Growth and Development
Prerequisite: Economics 21, Economics 22
Survey of the theory of economic development, historical development experiences of advanced Western, Asian and African nations, the problem of accelerating rates of development of less advanced nations, and the problem of maintaining economic growth rates of advanced nations.
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Government and Business
Prerequisite: Economics 21, Economics 22, or permission of instructor
Evolution of governmental involvement in the U.S. economy. Special emphasis on the relationship between government and the business community; the structure, behavior and performance of the business community which have induced government response; the interpretation and application of antitrust law; and a brief survey of public utilities and transportation economics.
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Labor Economics
Prerequisite: Economics 21, Economics 22, or permission of instructor
The study of labor markets from both the firms' and workers' perspectives. Trends and relationships pertaining to the gender, race, age and educational composition of the workforce are discussed, as are worker mobility, training and productivity. Major policies that affect labor markets (e.g., minimum wage, Social Security) are also examined.
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International Trade Theory and Policy
Prerequisite: Economics 21, Economics 22, or permission of instructor
Introductory study of international trade theory and policy. A microeconomic perspective of trade models detailing causes and benefits of trade between nations. Consideration of relationship between trade and economic growth and development. Analysis of exchange rate models, spot and forward markets and the balance of payments.
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Special Topics in Economics
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