The economics curriculum provides a basic foundation in economic
analysis and an understanding of economic institutions. The
program is designed to prepare students for careers in business or
government service and for graduate study in economics, business, labor
relations, or law. Students choose one of two tracks:
economic or financial economics.
Both tracks require Economics 152, 156, 205, 206, and 320.
In addition, the track in economic theory requires Economics 311 and
five economic electives. The track in Financial economics requires
Accounting 157, Economics/Management 231, two of the following:
Management 327, 341, or Economics 330 or 336; and one economics elective.
Mathematics through college-level algebra and calculus, or functions and
derivatives with applications (Mathematics 108, 170 or 106 & 166)
are required in the Economics major.
Notes for Majors in Economics and
Business
1. Students majoring in economics, management,
international management, or accounting are expected to be
computer literate, and acquainted with applications in word processing, spreadsheets,
and statistical analysis.
2. College-level mathematics,
Algebra and Calculus, are required in the Management, Economics and
Accounting
majors and the economics minor. The Algebra requirement is
ordinarily met by the completion of three years of secondary
mathematics; the calculus requirement by taking Mathematics 108, 170 or its
equivalent sequence Mathematics 106-166.
Transfer students may satisfy
the calculus prerequisite through courses taken at other institutions on
approval of the Economics and Business Department chair. Students
are advised that such courses might not satisfy the College's I.C. Guideline
requirement.
3. Mathematics 107 may be substituted for
Economics 156 in the major or minor in Economics, Management,
International Management, or Accounting, but those students who have or
are taking concurrently Mathematics 107, Mathematics 331, or Mathematics
332 will not receive credit for Economics 156. Students intending
to do graduate work in economics are strongly encouraged to take
Mathematics 171 and Mathematics 210.
4. Majors in Economics, Management,
International Management, or Accounting are urged to develop a significant
concentration in some other area, whether it be Mathematics, a Natural
science, on of the Humanities, a Foreign Language, or another Behavioral
Science.
5. Economics 152 will satisfy the Liberal
Education Guideline III.C. in Social and Behavioral Science.
Courses in Economics
152. Principles of Economics. Study of basic economics
theory and of major economic institutions, including discussions on the
development of economics though. Emphasis is placed upon the
structure, functions, and underlying principles of modern economic life
and includes both macro and micro elementary economic theory. (Lin
CM4)
Prerequisite: Three years of secondary
mathematics through college-level Algebra or consent of
instructor. Fall and spring.
156. Economic and Business Statistics. Data
analysis, central tendency and variability, probability and probability
distributions, estimation and hypotheses testing and applications.
Economics 156 may not be taken for credit by students who have earned
credit for Mathematics 107 or Mathematics 331.
Prerequisite: Three years of secondary
mathematics through college-level Algebra or consent of
instructor. Fall and spring. (Lin CE2)
160. The European community: Cultural Diversity and Economic
Integration. A survey of the European Community through a
comparative study of the cultural differences of its member states,
their political institutions and various economic systems and
achievements. Students will first spend approximately two weeks in
Europe visiting several member states to develop an appreciation of the cultural
and historical heterogeneity of the Community. Upon the students'
return to campus, the course will focus initially on Community's
development from the Treaty of Rome to the Treaty of Maastricht.
The course will then examine the European Community's current political
and economical challenges, its future, and its role in international
trade.
205. Intermediate Microeconomics. Theory of
production; market structures; equilibrium of the firm and the industry;
the pricing of factors of production; analysis of consumer behavior;
general equilibrium analysis; welfare economics.
Prerequisite: Economics 152, 156, and
college-level Calculus. (Mathematics 108,170, or 106-160).
206. Intermediate Macroeconomics. Analysis of
classical and Keynesian aggregative systems, including the historical
development of current macroeconomic thought. Post-Keynesian
developments in the analysis of the consumption, investment, and
liquidity preference functions. Development of growth theories.
Prerequisite: Economics 152.
231. Managerial Finance. Study of the relevant
theories of the financial management of business organizations, with an
emphasis on the corporate form. Combines theoretical and
environmental frames of reference in order to determine how firms
maximize value. Topics include real and financial asset valuation,
risk and rates of return, cost of capital, portfolio choice, and long-
and short-term financing decisions.
Prerequisites: Economics 152, 156, and Accounting
157.
307. Industrial Organization. Introduction to the
theory and practice of pricing by firms. Includes perfect
competition, monopoly, and other pricing models and government
regulation.
Prerequisites: Economics 152, 156, and 205.
Alternate years.
309. Labor Economics. Analysis of the supply and
demand for human resources, and other functioning of labor markets and
labor institutions. Topics discussed will include discrimination,
unionism and collective bargaining, and macroeconomic aspects of
employment, unemployment and wage levels.
Prerequisite: Economics 152. Alternate
years.
320. Money, Banking, and Financial Policy.
History and theory of banking; market structure of commercial banking;
bank management; money and capital markets. History of central
banking, monetary theory and monetary policy. Current
international monetary problems. A critical examination of present
monetary policies and programs to maintain economic stability, economic
growth, and other goals.
Prerequisite: Economics 152.
325. History of Economic Thought. Development of
classical and neoclassical or marginalist economic theory. This
course provides an historical perspective and includes work by Adam
Smith, David Ricardo, Karl Marx, Alfred Marshall, John Maynard Keynes
and others.
Prerequisite: Economics 152. Alternate
years.
328. Economic Development. Introduction to the
theories and problems of economic growth and development in both
developed and less developed countries. Topics include issues
relating to trade, capital formation, population, technology, planning
and market processes, and the role of international institutions.
Prerequisite: Economics 152. Alternate
years.
330. Public Finance. The public sector of the
economy and economic welfare. Institutions and financing of the
public sector. The nature of public goods, theory of public
choice, principles of expenditure and tax analysis, the welfare effects
of specific programs such as medical care, social security, unemployment
insurance, and food stamps and of specific taxes such as income, sales,
social security, and property taxes. State and local government
finances.
Prerequisite: Economics 152. Alternate
years.
336. International Economics. Theories and policies of
international trade and finance. Balance of payments, exchange
rate determination, free trade vs. protection, evolution of
international economic institutions, and contemporary issues will be
discusses.
Prerequisite: Economics 152.
342.1. Amrhein Investment Fund. One credit (.25
unit) given to students who fulfill specific academic requirements
associated with the management of the Amrhein Investment Fund, up to a
maximum of four credits per student over a two year period.
190-199, 290-299, 390-399. Special Topics.
381-384. Independent Study.
386-389. Field Study.
400-401. Honors.
