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Economics Course descriptions General
Education Course * Economics 111. Contemporary Economic Issues and Social Policy. Fundamental economic principles and the economics of social issues. Material is addressed in a manner that illustrates the importance of understanding economic issues that affect you as a consumer, citizen, and taxpayer. Example topics are: environmental issues, poverty and inequality, the war on drugs, the determination of prices in markets and price manipulation, and the collapse of communism. The format for all classes is discussion. 3 credits. * Economics 115. Economics for Educators. An examination and exploration of economic concepts and principles as well as instructional approaches aimed at incorporating these concepts into the elementary school curriculum. This course is designed especially for students preparing for careers as elementary school educators and will focus on preparing students to be able to implement the economics strand in the Virginia Social Studies Standards of Learning adopted in 1995. This course may not be taken for credit by business or economics majors. 3 credits. Economics 217. Principles of Economics (Micro Emphasis). Overview of economic theory and real world applications. For example, how are prices in the economy determined? How do economic markets operate? How do economic events such as technological advances, increases in input prices, and government policy changes affect market prices and the consumer? Some time will be spent on discussion of market structures such as competitive markets versus monopoly. Real world applications will be used to illustrate economic theories. 3 credits. Economics 218. Principles of Economics (Macro Emphasis). Study of the economy as a whole. Topics include the determination of a general price level for the economy, determinants of inflation, unemployment, interest rates, and Gross Domestic Product. For example, this course addresses how the Federal Reserve uses monetary policy to manipulate economic activity, inflation, and interest rates. 3 credits. ECONOMICS 292. Internship in Economics. A semester-long, on-the-job learning experience designed to apply the principles of economics. 1-18 credits. Economics 295. Special Topics. Selected topics in economics. The topics may vary from semester to semester. May be repeated for credit when topics change. 1-3 credits. ECONOMICS 302. Law for Economists. Students will evaluate the law based on economic principles and will form connections to public policy. Specifically, students will examine the effects of current law on behavior and predict the effects of future laws on society. Topics include economics of crime and punishment, economic theory of property and property liability, and medical malpractice. Students will apply legal and economic concepts to recent cases. Prerequisite: ECON 217. 3 credits. ECONOMICS 303. Economics of Sports. A study of how economic theories apply to the markets for professional and amateur sports. Topics will include competition within the industry, wage determination, labor market functions, regulation and market failure. Class will be discussion oriented. Prerequisite: ECON 217. 3 credits. Economics 304. Experimental Economics. This course is project oriented. Students will work with the professor on grant-related research in order to learn about experimental design, protocol, and recruiting. Students will also work in groups on experimental projects that will be presented to the class. Prerequisite: Permission of the instructor. 3 credits. Economics 306. Economic Development. Examination and analysis of alternative theories of economic development in Less Developed Countries. Special emphasis is on factors such as capital formation, population growth, institutions, and policies and planning for development. Prerequisite: ECON 218. 3 credits. ** Economics 308. Money and Banking. The function of money as legal tender and the relation of money and credit to prices. Emphasis will be placed on monetary policy, interest rates, and the Federal Reserve System, international applications, and problems of currency exchange. Prerequisites: ECON 217 and 218. 3 credits. Economics 309. Managerial Economics. This course applies economics to business decision-making. Applied regression analysis, an important empirical tool that is widely used in business and government, will be used to study managerial insights that can be gained from business data. Additional topics include linear programming, forecasting, and business strategies for firms in competitive and monopolistic markets. Prerequisites: ECON 217 and one of the following: MANG 275, math 171, or math 271. 3 credits. Economics 310. Comparative Economic Systems. Critical study of alternative economic systems found in countries around the world. The economic systems of specific countries will be analyzed, including the centrally planned economies of Russia, Hungary, and Poland. Reform in the former Soviet Union is an especially timely topic. The economies of Lesser Developed Countries will also be discussed. Prerequisites: ECON 217 and 218. 3 credits. ECONOMICS 311, 312. Studies Abroad. Primarily intended for transfer of credit earned abroad in courses in economics. 1-18 credits. Economics 313. Public Economics. This course addresses the role of government in a market economy. The economic rationale for government intervention in correcting market failures is analyzed, along with regulation and redistribution issues. Emphasis is placed on the evaluation of government policies and programs, as well as potential reforms; for example, health care, drug prohibition, education reform, and farm subsidy programs. Contrast is made between bureaucratic and market solutions. Prerequisites: ECON 217. 3 credits. Economics 314. Environmental and Resource Economics. This course analyzes environmental concerns and the economics of resource use. Specifically, a contrast will be made between governmental solutions to environmental issues and market-based environmental reforms. Issues addressed include: animal extinction and common ownership problems, pollution, water management, global warming/global cooling, and land management. The underlying theme of the course is the ability to use economic theory to develop appropriate incentive structures for the use of economic resources. Prerequisite: ECON 217. 3 credits. Economics 317. Intermediate Microeconomics. Advanced topics in microeconomics supplemented by applications of microeconomic theory to policy and business issues. Theory of the consumer and production will be emphasized. Prerequisite: ECON 217. 3 credits. Economics 318. Intermediate Macroeconomics. Advanced coverage of monetary and fiscal theory and policy with emphasis on money supply and interest rates, national income determination, unemployment, inflation, and international issues. Prerequisites: ECON 217 and 218. 3 credits. Economics 319. International Economics. Analytical approach to gains derived from trade, treatment of various theories of international trade (classical and current). Includes analysis of economic and political influences on exports and imports, foreign exchange rates, concept of elasticity as applied to international trade, balance of payments, significance of foreign trade and investment. Prerequisites: ECON 217 and 218. 3 credits. ** ECONOMICS 400. Economics in Elementary School Classroom. Teachers will learn how to make economics come alive in their classroom. Teachers will learn how to teach basic economics principles addressing scarcity, production, consumption, opportunity cost, markets, etc. Major focus will be hands-on activities for young students. Virginia SOL’s will be discussed. Course taught through Longwood College Center of Economic Education. Not for credit toward the economics major, minor, or concentration. 1 credit. Summer only. ECONOMICS 401. Economics in the High School Classroom. Teachers will learn basic economic concepts and how to apply them to topics including domestic and global issues such as the environment, international trade, economic reform in Russia, macroeconomic policy, welfare reform, and drug legalization. Classroom activities and social studies SOL’s will be addressed. Course taught through the Longwood College Center of Economic Education. Not for credit toward the economics major, minor, or concentration. 3 credits. Economics 411. Economics of Labor and Discrimination. Economic analysis of labor markets, including issues of labor supply and demand, wage determination, unemployment, job search, education, and other human capital investments. Emphasis will be placed on the analysis of data on labor market outcomes relative to ethnicity and gender. Theories of discrimination will be addressed. Policy issues and programs such as minimum wage, comparable worth pay programs, and affirmative action will be discussed. Prerequisite: ECON 217. 3 credits. Economics 412. Industrial Organization and Regulation. Focus will be on organization of the firm and the impacts of regulation. Topics include industrial pricing practices, reasons why firms exist, why they vertically or horizontally integrate, and recent downsizing trends. The regulation component will address antitrust legislation, pricing regulations, and rate of return regulations such as those commonly imposed on public utilities. Prerequisite: ECON 217. 3 credits. Economics 414. Econometrics and Forecasting. Introduction to the basic concepts used in economic data analysis. Emphasis is on applications of linear regression techniques to analyze common empirical problems in economics, business, and government. Forecasting techniques that are commonly used by economists will be covered. Students will receive hands-on experience in data collection, computer software, and project design. Prerequisites: ECON 217, 218, and one of the following: MANG 275, Math 171 or MATH 271. 3 credits. ** Economics 415. Teaching Environmental Economics. Educator oriented course, applying economics to environmental issues such as resource scarcity, pollution, property rights, garbage and recycling, oil spills, and endangered species. Students will learn how markets and prices can be used to help solve environmental problems. Course cannot be used as credit towards economics major or minor in economics. Students cannot receive credit for both ECON 415/EDUC 415 and ECON 500 or both ECON 415/EDUC 415 and ECON 314. 3 credits. Economics 461. Senior Seminar. Designed as a seminar for senior level economics students. The course will be project oriented. Emphasis placed on discussion and project presentation. Topics will vary by semester. Prerequisite: Senior status in economics or approval of instructor. 3 credits. ** Economics 490. Independent Study: Economics. This is an individually designed course that allows the student to pursue advanced topics in specific areas of economics. Prerequisites: Senior standing and permission of instructor. 1-3 credits. Economics 492. Internship: Economics. Internship in economics is an on-the-job learning experience designed to give students applied experience with economics principles. Prerequisites: Cumulative GPA of 2.0 or greater, 60 credits, declared business or economics major or minor, and permission of internship instructor. 1-6 credits. Economics 495. Special Topics. Selected topics in economics. The topics may vary from semester to semester. May be repeated for credit when topics change. 1-3 credits. ECONOMICS 498. Honors Research in Economics. Students conduct research in economics under the direction of a faculty member and the Senior Honors Research Committee. May be repeated as 499. 3 credits. Economics 500. Environmental Economics. This course analyzes the economics of resource use, focusing on market based environmental reforms. Issues addressed include: animal extinction and common ownership problems, pollution, water and air regulation, garbage and recycling. This course is intended for students in the Masters in Environmental Studies program. Prerequisite: ECON 217. 3 credits. **
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