Economics Courses (EC)

Undergraduate Courses

200. Essentials of Economics (5).
Provides the background for a basic understanding of how the American economic system functions. Emphasis is placed on the operation of a capitalistic system, supply and demand, the institutions in the U.S. system, the role of government in the system and its relationship to the world economy. Will not substitute for EC 201 or EC 202. Available to non-business majors only.

201. Economics I (5). Pr., MH 150 (or appropriate score on AUM Mathematics Placement test) or MH 281 or equivalent.
This course introduces the student to basic principles of economics and the methods of microeconomic analysis. Topics include the microeconomic analysis of the market forces of supply and demand, price determination, market structure, government intervention in the market, and the notion of economic efficiency.

202. Economics II (5). Pr., EC 201.
Macroeconomic analysis of aggregate trends and problems that include macroeconomic instability and the business cycle, inflation and unemployment, government stabilization policies both fiscal and monetary, the balance of payments and trade, and long-run economic growth.

301. Contemporary Economic Problems (5). Pr., EC 200, EC 201, or EC 202, junior standing.
An intensive analysis of specific, current business and economic problems of major importance.

305. Issues in global Trade and Finance (5), Pr., EH 306 or concurrent with EH 306, upper division standing.
A study of the global nature of our economy and the effects of the global economy on public policy and business decision making. The focus of the course deals with the effects of the global environment on domestic product markets, labor markets, resource markets, and financial markets.

350. Labor Economics (5). Pr., EC 202, junior standing.
A theoretical and institutional examination of the labor market, including wage theories, unionism, the economics of collective bargaining, and problems of insecurity.

352. Comparative Economic Systems (5). Pr., EC 200 or EC 201, junior standing.
An analysis of the rival economic doctrines of capitalism, socialism, and communism.

354. History of Economic Thought (5). Pr., EC 200 or EC 201, junior standing.
The development of economic ideas, principles, and systems of analysis from early times to the present.

360. Money and Banking (5). Pr., EC 202, junior standing.
Money, credit, and banking, including consideration of monetary systems, foreign exchange, and commercial banking with relation to the Federal Reserve System. This course is taught at Alabama State University.

380. What Color of Green (5). Pr., EC 202, junior standing.
An exploration of the often divergent viewpoints of economics and ecologists over environmental issues. Issues of interest include economic development, environmental preservation, government regulation, and international environmental conflicts.

390. Booms and Busts in Twentieth-Century America: A Macroeconomic History of the U.S. in the World Economy (5). Pr., EC 200 or EC 202.
This course is designed to encourage students to learn macroeconomic concepts and principles by analyzing the important events and trends in this U.S. this past century. The course applies economic theory and analysis to the plexities of the real world. Students investigate political-economic history, the nature of decision making, and its intended and unintended consequences.

410. Intermediate Macroeconomics (5). Pr., EC 202, junior standing.
The study of the aggregate forces of supply and demand in an economy that seeks the goals of full production, full employment, price stability, and growth. Topics include economic growth, analysis of the business cycle, issues and problems in monetary and fiscal policy, balance of payments, and exchange rate analysis.

411. Intermediate Microeconomics (5). Pr., EC 201, junior standing.
The study of how prices, output, and size of plant are determined within varying economic market organizations.

427. Managerial Economics (5). Pr., EC 201, junior standing.
Decision theory and criteria for decision making concerning output, pricing, capital budgeting, scale of operation, investment, and inventory control. Attention is also given to concepts of profits, production and cost functions, competition, and equilibrium for the firm and industry.

460. Law and Economics (5). Pr., EC 200 or EC 201, junior standing.
Survey of the law and legal institutions (including law enforcement) from an economics perspective. Topics include property, contracts, torts, criminal and constitutional law, efficiency of common law, and efficient allocation of law enforcement resources.

462. Monetary Theory and Policy (5). Pr., FI 361, EC 360.
Advanced monetary and banking policy. Attention given to government fiscal policies and programs. (Same as FI 462.)

465. Public Finance (5). Pr., EC 201, junior standing.
A study of principles of taxation, government expenditures, and fiscal policy in the American economy. (Same as FI 465.)

470. International Economics (5). Pr., EC 305, junior standing.
A survey of the basic theory and institutions of international trade, including supply and demand in trade, tariff analysis, customs unions, trade policy, the foreign exchange market, international monetary management, the balance of payments and trade, and the international adjustment mechanism. Current problems in the international sector will be analyzed.

490. Special Problems (1-5). Pr., junior standing.
Variable content in the economics area.

495. Internship in Economics (1-5). Pr., departmental approval.
Practical experience that enables students to integrate academic knowledge with applications by exposure to business, governmental, and other organizational environments. May be repeated up to ten (10) hours. Only the grades of "S" (Satisfactory) and "U" (Unsatisfactory) will be assigned. Free elective credit only.

Graduate Courses

601. Survey of Microeconomic Analysis (2.5). Pr., graduate standing.
An accelerated overview of microeconomic concepts. Course will examine concepts of demand, supply, consumer choice models, production models, market structures and distribution of income. May not be used as an elective.

602. Survey of Macroeconomic Analysis (2.5). Pr., graduate standing.
An accelerated overview of fundamental macroeconomic concepts. Course will examine macroeconomic measurements, economic growth, differing macroeconomic models, and international trade issues. May not be used as an elective.

608. Economics of Decision Making (5). Pr., EC 601, and EC 602, or equivalent, graduate standing.
This course examines how the economic decisions made by managers can be impacted by changing market, political, and global conditions outside the firm. Decisions about optimal resource use, production, and pricing by the firm will be examined.

610. The Macroeconomic Environment of the Firm (5). Pr., EC 608, graduate standing.
An analysis of the aggregate economic performance of the economy, including the determination of national income, output, employment, price levels and interest rates. Central topics include determinants of long term growth, business cycle analysis, government fiscal policy, Federal Reserve monetary policy, inflation, exchange rates, and the balance of payments.

611. Market Structures (5). Pr., EC 608, graduate standing.
The behavior of the firm under different market structures and the study of competitive strategy and modern industrial organizaiton. Central topics include industry analysis, market structure and competition, strategic commitment, entry and exit, and the dynamics of pricing rivalry.

617. Managerial Economics (5). Pr., EC 608, graduate standing.
Decision theory and criteria for decisionmaking concerning output, pricing, capital budgeting, scale of operation, investment, and inventory control. Attention is also given to concepts of profit, production, and cost functions.

631. Economic Foundations of International Trade and Finance (5). Pr., EC 608, graduate standing.
This course examines the global nature of economic activity and its impact on business decision making and public policy. The focus of the course the study of the effects of the global economic environment on domestic product, labor, resource, and financial markets. Key factors include the balance of payments, trade and capital flows, exchange rate determination, and risk management.

650. Economic Seminar (1-5). Pr., graduate standing.
A seminar for graduate students. Exact subject matter will be anounced each time course is offered. May be repeated with a change in subject matter.

660. Law and Economics (5). Pr., one course in economics (EC 601 or equivalent, EC 610, EC 611, or EC 617), graduate standing.
Survey of the law and legal institutions (including law enforcement) from an economics perspective. Topics include property, contracts, torts, criminal, and constitutional law, efficiency of common law, and efficient alocation of law enforcement resources.

690. Special Problems (1-5). Pr., graduate standing
Variable content in the economics area.