Gain a solid foundation in economic theory and the skills needed to analyze economic data to make informed decisions studying the fundamental principles of micro and macroeconomics.
Courses in economics include topics such as public finance, inflation, unemployment, international trade, financial markets, poverty, wage disparity, inequality, growth, and development.
Principles of Microeconomics
Have you ever wondered why airlines charge higher prices when you walk in off the street than if you call in advance? (or why movie theaters charge children half-price tickets when they take up a whole seat? why bars have happy hours, or senior citizen discounts, or why the government taxes cigarettes and alcohol?) This class gives insight into the market system and how it works. Students will uncover the workings of the free market system to discover how prices are determined and how other economic decisions are made.
Principles of Macroeconomics
Why is the U.S. standard of living higher than that of most other countries, and what does the standard of living depend on? What causes the unemployment rate to rise, and why do some countries suffer from inflation? What determines the exchange rate between the dollar and the Euro? These questions and more will be discussed as students learn more about the economy in which they live. This course can be taken prior to L.ECO 221.
Intermediate Macroeconomic Theory
Our ability to achieve our economic goals (full employment, price stability and economic growth) depends upon a theoretical understanding of how these goals are measured, what causes the frequent ups and downs of the business cycle, and what policy prescriptions (monetary and fiscal) are available to mitigate these fluctuations. Required for minors.