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ECONOMICS (EC)

Dr. Billy P. Helms, Department Head
Office: 200 Alston Hall

In addition to completing the specific prerequisites included in the descriptions of the following courses, all students seeking to enroll in 300- or 400-level courses in the Culverhouse College of Commerce and Business Administration must have attained junior standing (61 semester hours). A student enrolled in the College of Arts and Sciences who has declared a major or minor in economics may enroll in EC 308 and/or EC 309 prior to earning 61 hours.

All C&BA students must, prior to seeking to enroll in any 300- or 400-level C&BA course, complete or be enrolled in the following prerequisites: EC 110 and EC 111; MATH 112 and MATH 121, or MATH 115 and MATH 125; CS 102; AC 210; ST 260; and LGS 200 (or their equivalents); and at least 4 hours in natural science, 3 hours of fine arts, literature, or humanities, and 3 hours of history or social and behavioral sciences. Failure to fulfill all prerequisites prior to enrolling in a 300- or 400-level C&BA course will result in administrative disenrollment from that course.

EC 110 and EC 111 or their equivalents are prerequisites for all economics courses numbered 300 or higher.

A grade of “C-” or higher is required in EC 308 and EC 309 for all classes for which they serve as prerequisites.
Intermediate micro- and macroeconomic theory (EC 308 and EC 309 or their equivalents) are prerequisites for all graduate coursework in economics except MBA-designated courses.

EC 110 Principles of Microeconomics. 3 hours.
Prerequisite: MATH 100 or equivalent.

Introduction to microeconomic analysis concentrating on consumer and producer behavior, competitive and imperfect markets, public policy and regulation, and income distribution.

EC 111 Principles of Macroeconomics. 3 hours.
Prerequisite: EC 110 or equivalent.

Introduction to macroeconomic analysis concentrating on national income, price levels, employment, monetary and fiscal policies, and international trade and development.

EC 210 Microeconomic Policy Analysis. 3 hours.
Prerequisite: EC 110 or equivalent.

This course uses economic analysis to examine a range of public policy issues.

EC 211 Macroeconomic Policy Analysis. 3 hours.
Prerequisite: EC 111 or equivalent.

Building on the macroeconomics background of EC 111, students will consider current national and international economic problems and issues.

EC 308 Intermediate Microeconomics. 3 hours.
Prerequisite: MATH 121 or MATH 125 or equivalent.

Examination of the theory of price and the theory of resource allocation. Topics include demand theory, production and cost functions, pricing and output under competitive and noncompetitive conditions, resource markets, and rudiments of general equilibrium analysis.

EC 309 Intermediate Macroeconomics. 3 hours.

A study of the theoretical framework underlying income, employment, and growth analysis.

EC 389 Computerized Management Information Systems (also FI 389). 3 hours.
Prerequisites: AC 210, CS 102, FI 302, and ST 260.

Introduction to the components of computerized management information systems and applications of computer-based systems to business decisions. Students may not receive credit for EC 389 and FI 389.

EC 400 Analysis of Economic Conditions at the Micro/Macro Levels. 3 hours.
Prerequisites: EC 110, EC 111, ST 260, OM 300, and FI 302.

Not open to majors in economics and finance. Uses basic economic theory to assess real-world business and economic conditions at the micro and macro levels.

EC 410 Law and Economics. 3 hours.
Prerequisite: Permission of the instructor or EC 308 with a grade of “C-” or higher.

This course will use the tools of economic analysis to analyze public policy issues and to explore the intersections between the law and economics.

EC 412 Industrial Organization. 3 hours.
Prerequisite: EC 308 with a grade of “C-” or higher.

Study of the various types of industry structure, conduct, and performance; business strategies; and policy alternatives. Emphasizes case studies from the major types of industry.

EC 413 Economic Forecasting and Analysis. 3 hours.
Prerequisites: ST 260, EC 308, and EC 309 with grades of “C-” or higher.

Survey of the analytical techniques used by economists to forecast the macro and micro levels of economic activity and the effects of public policy on the economy.

EC 416 Monetary Theory and Policy (also FI 416). 3 hours.
Prerequisite: EC 309 with a grade of “C-” or higher.

Analysis of the role of money in the economy and the conduct of monetary policy. Emphasis is given to the money supply process, the demand for money, and the choice of monetary-policy strategies and procedures.

EC 422 Urban Economics. 3 hours.

Analysis of the economics of community growth and the application of economic principles in solving problems and exploiting opportunities generated by the process of urban development.

EC 423 Public Finance (also FI 423). 3 hours.
Prerequisite: EC 308 with a grade of “C-” or higher.

Study of the principles of taxation, government expenditures, borrowing, and fiscal administration.

EC 430 International Trade. 3 hours.
Prerequisite: EC 308 with a grade of “C-” or higher.

Analysis of theoretical principles underlying international trade, with application of these principles to recent developments and to current national policies.

EC 431 International Finance (also FI 431). 3 hours.
Prerequisite: FI 301 or EC 309 with a grade of “C-” or higher, or EC 430.

Introduction to the field of international finance. Course deals primarily with international financial markets and the macroeconomics of international financial flows. Topics include foreign exchange and international securities markets and international banking.

EC 440 Economic Growth and Development. 3 hours.

A comparative analysis of economic strategies, problems, issues, and policy outcomes in low-income and newly industrialized countries.

EC 441 International Financial Management (also FI 441). 3 hours.
Prerequisites: FI 302 and EC/FI 431.

Study of the application of principles of financial management in an international setting, primarily from the perspective of nonfinancial, multinational firms.

EC 442 Economic Development in Latin America. 3 hours.

A comparative analysis of economic strategies, problems, issues, and policy outcomes with special attention given to Mexico, Costa Rica, Cuba, and Brazil.

EC 444 The Political Economy of Terrorism. 3 hours.
Prerequisites: Permission of the instructor or EC 308 with grades of “C-” or higher.

Rational actor models applied to the study of terrorism. Empirical examination of the economic impact of terrorism and of the effectiveness of anti-terrorism policies.

EC 450 History of Economic Concepts. 3 hours.
Prerequisites: EC 308 and EC 309 with grades of “C-” or higher.

Study of the development of economic theory from Adam Smith to the present day.

EC 453 Comparative Economic Systems. 3 hours.

Comparative analysis of contrasting economic systems based on the type of ownership (private versus state) and on the coordinating mechanism (market versus central command). Emphasis is given to fundamental changes in economic systems that are currently under way.

EC 461 Modern Finance Capitalism. 3 hours.

Study of the development of modern finance capitalism institutions.

EC 470 Introduction to Mathematical Economics. 3 hours.
Prerequisites: MATH 121 or MATH 125, EC 308, and EC 309 with grades of “C-” or higher.

Application of selected mathematical methods to the analysis of economic problems.

EC 471 Econometrics. 3 hours
Prerequisite: ST 260 and MATH 126, or equivalents.

This course emphasizes statistical methods for analyzing data used by social scientists. Topics include simple and multiple regression analyses and the various methods of detecting and correcting data problems such as autocorrelation and heteroscedasticity.

EC 480 Economics of the Environment and Natural Resources. 3 hours.
Prerequisite: Permission of the instructor or EC 308 with a grade of “C-” or higher. Survey of the techniques used to estimate benefits of environmental improvements, and an analysis of public policy relating to the environment and use of natural resources.

EC 481 Economics of the Public Sector. 3 hours.
Prerequisite: EC 308 with a grade of “C-” or higher.

Study of the provision of public goods and services introducing the theory of welfare economics, public choice, and cost-benefit analysis.

EC 482 Senior Seminar on Economic Issues. 3 hours.

Group discussion of current economic issues together with analysis and policy recommendations. Writing proficiency is required for a passing grade in this course.

EC 483 Health Care Economics. 3 hours.
Prerequisites: EC 110, EC 111, and EC 308 with grades of “C-” or higher.

An investigation of the microeconomics of the American health care delivery system. The course focuses on the demand for and supply of health care services and emphasizes the efficiency and equity characteristics of the system.

EC 491 Independent Study in Economics. 1-6 hours.
Students may earn degree credit for only one independent study course (491).

EC 492 Internship. 1-3 hours.
Prerequisites: Junior or senior standing and a grade point average of 2.5 or higher. Students may earn degree credit for only one internship (492).

Students are selected through a competitive process for assignments in approved business or public sector organizations. The internship is administered through the C&BA Office of Student Services.

EC 497 Special Topics in Economics. 3 hours.

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