Departments & Programs

Economics

Course Descriptions
  • ECON-E 201 Introduction to Microeconomics (3 cr.) CASE S&H Scarcity, opportunity cost, competitive and non-competitive market pricing, and interdependence as an analytical core. Individual sections apply this core to a variety of current economic policy problems, such as poverty, pollution, excise taxes, rent controls, and farm subsidies. I Sem., II Sem., SS.
  • ECON-S 201 Introduction to Microeconomics: Honors (3 cr.) CASE S&H Honors course. Designed for students of superior ability. Covers same core materials as E201 and substitutes for E201 as a prerequisite for other courses. I Sem.
  • ECON-E 202 Introduction to Macroeconomics (3 cr.) CASE S&H P: E201. Measuring and explaining aggregate economic performance, money, monetary policy, and fiscal policy as an analytical core. Individual sections apply this core to a variety of current economic policy problems, such as inflation, unemployment, and economic growth. I Sem., II Sem., SS.
  • ECON-S 202 Introduction to Macroeconomics: Honors (3 cr.) CASE S&H P: S201 or E201. Honors course. Designed for students of superior ability. Covers same core material as E202 and substitutes for E202 as a prerequisite for other courses. II Sem.
  • ECON-E 203 Introduction to International Economics (3 cr.) P: ECON-E 201. Basic understanding of global economy with an emphasis on fundamentals of international trade: why and how nations trade; the cost and benefits of free trade; the basis for and implications of trade restrictions; international migration and capital flows; international economic institutions and agreements; foreign exchange. Cannot be counted toward a major, interdepartmental major, or minor in economics.
  • ECON-E 221 Models and Methods of Economic Analysis (3 cr.) P: E201 and MATH-M119 or MATH-M 211. Preparation in fundamental mathematical tools and analytical methods utilized in the economic decision-making models developed in E321. Designed as an optional transitional class for students who did not complete E321 prerequisites at I.U. or for students who want additional preparation for E321.
  • ECON-E 298 Careers in Economics (1 cr.) P: Major in economics. R: Sophomore or junior standing. How to use campus career development resources, write a resume and cover letter, and develop interviewing and networking skills for the job market. Options to prepare for professional or graduate education. Invited speakers provide perspectives from a variety of fields. Helps match student skills and interests to the requirements of a chosen career.
  • ECON-E 303 Survey of International Economics (3 cr.) CASE S&H P: E201 and E202. Basis for and effects of international trade, commercial policy and effects of trade restrictions, balance of payments and exchange rate adjustment, international monetary systems, and fixed versus flexible exchange rates. Not recommended for economics majors. Only 6 credit hours from E303, E331, and E332 may be counted toward a major in economics.
  • ECON-E 305 Money and Banking (3 cr.) CASE S&H P: E201 and E202. Monetary and banking system of the U.S. The supply and control of money. The impact of money on the U.S. economy. Topics in the application of Federal Reserve monetary policy. Analytical treatment of the Federal Reserve system and the commercial banking industry.
  • ECON-E 308 Survey of Public Finance (3 cr.) CASE S&H P: E201 and E202. Major elements of taxation and public expenditures. Not recommended for economics majors. Only 6 credit hours from E308, E361, and E362 may be counted toward a major in economics.
  • ECON-E 309 Topics in Economics (3 cr.) CASE S&H P: E201 and E202. Study of a topic area in economics. Topics will vary. Intended primarily for non-majors wanting exposure to economics beyond the introductory level. May be repeated with different topics for a maximum of 9 credit hours. May be repeated with different topics for a maximum of 9 credit hours. Only 3 credit hours may count toward the major or minor in economics.
  • ECON-E 321 Intermediate Microeconomic Theory (3 cr.) CASE S&H P: E201 and MATH-M 119 or M211. The economics of consumer choice. The economics of production, cost minimization, and profit maximization for business firms in the short run and long run under various market structures. Competition and adjustment to market equilibrium. Introduction to game theory, strategic interaction, and noncooperative equilibria. Credit given for only one of E321 or S321.
  • ECON-S 321 Intermediate Microeconomic Theory: Honors (3 cr.) CASE S&H P: E201 and MATH M119 or M211. Honors course. Designed for students of superior ability. Covers same core material as E321 and substitutes for E321 as a prerequisite for other courses. Credit given for only one of E321 or S321.
  • ECON-E 322 Intermediate Microeconomic Theory (3 cr.) CASE S&H P: E202 and E321. National income accounting; theory of income, employment, and price level. Countercyclical and other public policy measures.
  • ECON-S 322 Intermediate Macroeconomic Theory: Honors (3 cr.) CASE S&H P: E202 and E321. Honors course. Designed for students of superior ability. Covers same core material as E322 and substitutes for E322 as a prerequisite for other courses. Credit given for only one of S322 or E322.
  • ECON-E 327 Game Theory (3 cr.) CASE S&H P: E321. Mathematical analysis of strategic interaction. Noncooperative games played once or repeatedly, with perfect or imperfect information. Necessary condition for a solution (equilibrium) as well as sufficient conditions (refinements). Cooperative games, such as bargaining and market games. Numerous applications, including experimental games.
  • ECON-E 331 International Trade (3 cr.) P: E321. Theories of trade pattern, positive and normative aspects of trade and trade-related policies in competitive and non-competitive markets; effects of trade liberalization and economic integration; trade policies by developed and developing nations; international factor movements. Only 6 credit hours from E303, E331, and E332 may be counted toward a major in economics.
  • ECON-E 332 International Monetary Economics (3 cr.) P: E322. Theory of exchange rate and balance of payments adjustment, macroeconomic policy in open economies, history and comparison of international monetary systems, and proposals for reform. Credit given for only one of E332 and E433. Only 6 credit hours from E303, E331, and E332 may be counted toward a major in economics.
  • ECON-E 337 Economic Development (3 cr.) P: E321. Characteristics of economically underdeveloped countries. Obstacles to sustained growth; planning and other policies for stimulating growth; examination of development problems and experience in particular countries.
  • ECON-E 341 Economics of Labor Market (3 cr.) P: E321. R: E370. Analysis of the functioning of labor markets with theoretical, empirical, and policy applications in determination of employment and wages in the U.S. economy.
  • ECON-E 344 Health Economics (3 cr.) P: E321. R: E370 or equivalent is strongly recommended. Systematic introduction to health economics and economics of health care, emphasis on basic economic concepts such as supply and demand, production of health, information economics, choice under uncertainty, health insurance markets, Medicare and Medicaid, managed care, government intervention and regulation. Survey course with some topics in some depth.
  • ECON-E 351 Law and Economics (3 cr.) P: E321. Devoted to economic analysis of law, focusing on the economic efficiency of common law. Main components of the course are property law, contracts, and torts; some aspects of criminal law are also covered. Discussion is based mostly on examples, both invented and taken from actual cases.
  • ECON-E 361 Public Finance: Government Spending (3 cr.) P: E321. Theory of public goods and externalities. Cost-benefit analysis. Public choice theory. Analysis of specific expenditure, transfer, and regulatory programs. Only 6 credit hours from E308, E361, and E362 may be counted toward a major in economics.
  • ECON-E 362 Public Finance: Taxation (3 cr.) P: E321. U.S. tax structure, income redistribution effects, and efficiency in resource allocation. Use of welfare theory and microeconomic models to evaluate particular issues. Only 6 credit hours from E308, E361, and E362 may be counted toward a major in economics.
  • ECON-E 364 Environment and Resource Economics (3 cr.) CASE S&H P: E321. Basic theory of common property resources applied to environment and resource conservation problems. Topics include economic efficiency, equity, measurement problems, and policy formulation.
  • ECON-E 370 Statistical Analysis for Business and Economics (3 cr.) CASE N&M P: E201 and MATH M118 or similar course emphasizing probability concepts. R: MATH M119 and E202. Lectures emphasize the use of basic probability concepts and statistical theory in the estimation and testing of single parameter and multivariate relationships. In computer labs, using Microsoft Excel, each student calculates descriptive statistics, probabilities, and least squares regression coefficients in situations based on current business and economic events. Credit given for only one of E370 or S370, ANTH A306, CJUS K300, MATH K300 or K310, POLS Y395, PSY K300 or K310, SOC S371, STAT K310 or S300 or S301, or SPEA K300. I Sem., II Sem., SS.
  • ECON-S 370 Statistical Analysis for Business and Economics: Honors (3 cr.) CASE N&M P: E201 and MATH-M 118 or similar course emphasizing probability concepts. R: MATH-M 119 and E202. Honors course. Lectures emphasize the use of basic probability concepts and statistical theory in the estimation and testing of single parameter and multivariate relationships. In computer labs, using Microsoft Excel, each student calculates descriptive statistics, probabilities, and least squares regression coefficients in situations based on current business and economic events. Credit given for only one of S370 or E370, ANTH A306, CJUS K300, MATH K300 or K310, POLS Y395, PSY K300 or K310, SOC S371, STAT K310 or S300 or S301, or SPEA K300. I Sem., II Sem., SS.
  • ECON-E 371 Introduction to Applied Econometrics (3 cr.) P: ECON E370; one course from MATH M119, M211, M213. An introduction to the theory and application of least-squares regression in empirical economics. Review of bivariate and multivariate regression models, hypothesis testing, and confidence intervals. Special topics include model specification, multicollinearity, heteroscedasticity, dummy variables, interactions, and various sources of estimation bias. Students will learn to work with both cross-sectional and time-series datasets, and analyze the data using an econometrics software package. Only 6 credit hours from E371, E471, and E472 may be counted toward a major in economics.
  • ECON-E 385 Economics of Industry (3 cr.) P: E321. Empirical analysis of market structure and behavior. Location, technology, economies of scale, vertical integration, conglomerates, barriers to entry, and competitive practices. Economic assessment of product performance and environmental impact.
  • ECON-E 386 Soviet-Type Economies in Transition (3 cr.) P: E321. Economic institutions, resource allocation mechanisms, incentives and decision-making in a Soviet-type economy; economics of transition to a market-oriented system. Particular attention is paid to price liberalization, development of the financial system, privatization of state-owned assets, opening to the world economy, and the role of private sector. Credit given for only one of E386 or E497.
  • ECON-E 390 Undergraduate Seminar in Economics (3 cr.) P: E321. Additional prerequisites may be required depending on the seminar topic. Intensive study of a topic area in economics. Topics will vary. May be repeated with different topics for a maximum of 9 credit hours.
  • ECON-E 391 Independent Research in Economics (1-3 cr.) P: E321, E322, E370; undergraduate economics major or interdepartmental major (ECON/POLS or ECON/MATH); minimum 3.000 economics GPA. Additional prerequisites may be required by the faculty mentor. Independent readings and research by special arrangement with an economics faculty mentor and the director of undergraduate studies. A research paper or other substantial writing assignments are usually required. A maximum of 3 credit hours in E391 may count toward the major in economics.
  • ECON-E 425 Financial Economics (3 cr.) P: E321 and E370. Theory and empirical evidence relevant to understanding the functioning of modern financial-asset markets. Course topics may vary substantially by instructor. Some examples include: present value, analysis of risk and return, asset pricing, modern portfolio theory, equilibrium in asset markets, arbitrage pricing theory, the capital asset pricing model, the efficient markets hypothesis, price bubbles and crashes, futures markets, derivative securities and option pricing models.
  • ECON-E 427 Seminar in Experimental Economics (3 cr.) P: E321 and E370 or consent of instructor. R: E327. Focuses on the use of laboratory experimental methods in applied microeconomics. Specific application areas will include the analysis of resource allocation mechanisms for both private and public goods and individual choice under uncertainty using both human and nonhuman subjects.
  • ECON-E 471 Econometric Theory and Practice I (3 cr.) P: ECON-E370 or MATH-M365; MATH-M311; MATH-M303 or MATH-M301. Emphasis is on the classical linear regression model and its applications. Special topics include finite and asymptotic properties of least squares, hypothesis testing, model specification, dummy variables, proxies, multicollinearity and heteroscedasticity.  Several software packages are used in computer lab applications. Only 6 credit hours from E371, E471, and E472 may be counted toward a major in economics.
  • ECON-E 472 Econometric Theory and Practice II (3 cr.) P: E471. Emphasizes extensions of the classical linear-regression model such as: limited dependent variables, instrumental variables, stationary and nonstationary data, fixed-effect and random-effect models, multiple-equation models, censored regression, and sample selection. Only 6 credit hours from E371, E471, and E472 may be counted toward a major in economics.
  • ECON-E 490 Advanced Undergraduate Seminar in Economics (3 cr.) P: E321. Additional prerequisites may be required depending on the seminar topic. Advanced intensive study of a topic area in economics. Topics will vary. May be repeated with different topics for a maximum of 9 credit hours.
  • ECON-E 496 Foreign Study in Economics (3-8 cr.) CASE S&H P: Consent of chairperson. Course involves planning of research project during year preceding summer abroad. Time spent in research abroad must amount to at least one week for each credit hour granted. Research must be presented by end of semester following foreign study. Does not count toward a major or minor in economics. May be taken once only.
  • ECON-E 499 Honors Thesis (3 cr.) P: E321, E322, and E370; undergraduate economics major or interdepartmental major (ECON/POLS or ECON/MATH); minimum 3.300 economics GPA. Additional prerequisites may be required by the faculty mentor. Honors course. Honors thesis research by special arrangement with an economics faculty mentor and the director of undergraduate studies. A maximum of 3 credit hours in E499 may count toward the major in economics.
  • ECON-Y 398 Internship in Economics (1-3 cr.) P: Departmental approval required. Supervised work experience in an academic or business environment, including as a teaching assistant for undergraduate classes. Performance evaluation by a faculty mentor. Does not count toward a major or minor in economics. May be repeated for a maximum of 3 credit hours.