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Economics | ECON

Hakeem KingPictured | Hakeem King | Economics / Minor in Business Administration | Buchanan, Michigan (hometown)
Club Affiliation | Finance and Economic Club

Economics | ECON

P Prerequisite | C Co-requisite | R Recommended
I Fall Semester | II Spring Semester | S Summer Session/s

  • ECON-E 103 Introduction to Microeconomics (3 cr.) 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, II, S
  • ECON-E 104 Introduction to Macroeconomics (3 cr.) 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, II, S
  • ECON-E 200 Fundamentals of Economics and an Overview (3-4 cr.)
  • ECON-E 201 Introduction to Microeconomics (3 cr.) An analysis of evolution of market structure using the analytical concepts of supply and demand, opportunity cost, and marginal analysis. Applications include a variety of concurrent microeconomic issues.
  • ECON-E 270 Introduction to Statistical Theory in Economics and Business (3 cr.) Credit not given for both ECON-E 270 and MATH-K 310. P: BUS-K 201 and MATH-M 118. This course reviews basic concepts of probability and statistics, using them to study the properties of statistical samples, summary statistics for those samples and their use to test statistical hypotheses.  It also studies basic statistical decision theory and the use of statistical techniques to study relationships between variables: regression and correlation analysis, analysis of variance. I, II, S
  • ECON-E 304 Survey of Labor Economics (3 cr.) P: ECON-E 103 or ECON-S 103. This course studies the operation of the market for labor, including how wage rates are determined, how the level of employment is determined, and how and why wage rates and employment levels differ across different industries and different types of jobs.  Other important topics include the role of labor unions, and the role of the government in taxing or subsidizing labor and in regulating labor market practices (including imposing minimum wages).  The course also studies wage contracting behavior and why it may cause wage rates to be relatively inflexible over time. I
  • ECON-E 305 Money and Banking (3 cr.) P: ECON-E 103 or ECON-S 103, ECON-E 104 or ECON-S 104. This course studies money, banks, financial markets and government monetary and financial policy.  Monetary topics include the role of money in the economy, different types of money, the measurement of the money supply, the nature of monetary institutions and the conduct and impact of monetary policy.  Other important topics are the special monetary and financial role of banks and the nature and goals of bank regulation.  On the finance side, the main focus is the organization of financial markets, the determination of interest rates and bond prices, and the nature and purpose of government regulation of the financial system. II
  • ECON-E 308 Survey of Public Finance (3 cr.) P: ECON-E 103 or ECON-S 103; and ECON-E 104 or ECON-S 104. Analysis of the impact of government activity upon the economy. Topics include: economic functions of government, public decision making, federal budget process, principles of taxation, and major United States taxes. I
  • ECON-E 315 Collective Bargaining: Practices and Problems (3 cr.) P: ECON-E 304 or consent of instructor. Collective bargaining in contemporary economy; economic, social, and legal problems involved in negotiating; administration of collective bargaining agreement through grievance procedure and arbitration.
  • ECON-E 321 Intermediate Microeconomic Theory (3 cr.) P: ECON-E 103 or ECON-S 103. This course studies basic topics from Introduction to Microeconomics (E201) more thoroughly and in a more rigorous way.  A key topic is consumer theory, which helps economists understand and try to predict how consumers allocate their incomes over different goods and services - including in situations where the consequences of different decisions are uncertain and/or depend on the action of others (game theory).  Another common topic is the theory of the firm, which is the theory of how firms operating in different types of market environments - competition, monopoly, oligopoly, etc. - make decisions about production,  employment, purchases of other inputs, investment in plant and equipment, etc. I
  • ECON-E 322 Intermediate Macroeconomic Theory (3 cr.) P: ECON-E 104 or ECON-S 104. National income accounting; theory of income, employment, and price level. Countercyclical and other public policy measures. II
  • ECON-E 344 Health Economics (3 cr.) P: ECON-E 321, R: ECON-E 270 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 375 Introduction to Mathematical Economics (3 cr.) P: ECON-E 103, ECON-E 104, MATH-E 118 and MATH-E 119. Optimization problems, which are common in economic analysis, are most often formulated using mathematics.  Calculus is very useful for solving mathematical optimization problems,  and graphs are often used to illustrate them. This course combines calculus, linear algebra, graphs and verbal/written descriptions to explain mathematical optimization theory and its economic applications.
  • ECON-E 430 International Economics (3 cr.) P: ECON-E 103 or ECON-S 103, ECON-E 104 or ECON-S 104. Gains from trade, relation between factor rentals and goods prices, distributional effects of trade, tariff policy and quantitative interferences, trade problems of developing countries, discrimination and customs unions, balance-of-payments adjustment via prices and incomes, exchange rate policy, role of international reserves. II
  • ECON-E 470 Introduction to Econometrics (3 cr.) P: ECON-E 270 or MATH-K 310. Applications of regression analysis to economic and business data. Estimation and hypothesis testing of the classical regression model. Heteroscedasticity, collinearity, errors in observation, functional forms and autoregressive models. Estimation of simultaneous equation models. I (even years)
  • ECON-E 490 Advanced Undergraduate Seminar in Economics (3 cr.) P: ECON-E 321, ECON-E 322, ECON-E 470 or consent of instructor. 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. II
  • ECON-S 103 Introduction to Microeconomics-Honors (3 cr.) P: Consent of the honors program director or instructor. Introductory microeconomics course for students admitted to honors program. I
  • ECON-S 104 Introduction to Macroeconomics-Honors (3 cr.) P: Consent of the honors program director or instructor. Designed for freshmen students for superior ability. Covers same core material as E104. Small sections. II

Academic Bulletins

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2021-2022 Campus Bulletin
2020-2021 Campus Bulletin
2019-2020 Campus Bulletin
2018-2019 Campus Bulletin
2017-2018 Campus Bulletin
2016-2017 Campus Bulletin
2015-2016 Campus Bulletin
2014-2015 Campus Bulletin

Please be aware that the PDF is formatted from the webpages; some pages may be out of order.