Economics Courses

ECON 113    Comparative Economic Systems    3 credits
Comparative Economic Systems examines the post World War II performance of the industrialized economies. The course compares the relative economic performance of the market capitalist economies and the former centrally planned socialist economies. Emphasis is on international competition among the industrialized economies. The course concludes with a brief survey of the less developed economies and their prospects for economic modernization.

ECON 162    Principles of Macroeconomics    3 credits
Principles of Macroeconomics introduces the fundamental topics of macroeconomics. The course focuses on the empirical characteristics of the modern American economy and on how those characteristics are measured. Topics covered include aggregate demand and supply analysis, national income determination, fiscal policy, the banking system, and the role of fiscal and monetary policies in controlling and stabilizing unemployment and inflation.

ECON 163    Principles of Microeconomics    3 credits
Principles of Microeconomics introduces the fundamental principles of microeconomic theory and their application to consumer behavior, profit maximization, labor markets, and public choice. Alternative market structures are explored with formal emphases placed on resource allocation and issues of productivity.

ECON 205    Quantitative Methods for Business and Economics         3 credits
Quantitative Methods for Business and Economics teaches the mathematical tools from Calculus and Linear Algebra which are used in Economics and Business.  Topics include derivatives, multi-variate derivatives, and systems of equations applied to problems from Economics and Business.  (Not open to students who have taken MATH 201. This course cannot replace MATH 201 as a pre-requisite for MATH 202.) Prerequisites: MATH 105 or the equivalent; proper placement by the Bethany College Mathematics Placement Examination; or permission of the instructor. (This course may be taken for credit as BUSI  205).

ECON 222    Research Methods in Economics    3 credits
Research Methods in Economics introduces elementary research methods in economics. The course includes the use of microcomputers in economics and business. Emphasis is on using spreadsheets to prepare quantitative research projects in economics. The course also covers writing quantitative reports in economics. (This course may be taken for credit as BUSI  222). Prerequisites: ECON 163 and MATH 281 or 383 or PSYC 205. Prerequisite or corequisite: MATH 282 or 384.

ECON 260    Comparative Economic Development    3 credits
Comparative Economic Development examines major analytical and policy issues facing the “lesser developed” nations of the world. Development is defined, and contrasting policies of individual countries that have succeeded or failed are examined. The developmental role of agriculture, export-oriented policies, women, labor markets, multinational corporations, the public sector, the World Bank, and the International Monetary Fund are also considered. Prerequisite: ECON 162 or 163.

ECON 280    Managerial Economics    3 credits
Managerial Economics is a study of profit-maximizing managerial decision-making with emphasis on the external environment of the firm. The course introduces students to quantitative techniques of decision-making. Prerequisite: ECON 163.

ECON 287    Organizations and Human Behavior    3 credits
This course is a study of specific aspects of organization culture, such as motivation, conflict, power, and leadership. Focus is on improving the effectiveness of organizations by strengthening human processes. (This course may be taken for credit as PSYC 287 or BUSI 287.)

ECON 301    Intermediate Microeconomics    3 credits
Intermediate Microeconomics is a study of consumer behavior, demand analysis, market development, output determination, cost analysis, and pure and imperfect competition. The course includes exposure to mathematical constructs. Prerequisites: ECON 163, and either BUSI 205 or MATH 201.

ECON 302    Intermediate Macroeconomics    3 credits
Intermediate Macroeconomics is a study of the determinants and the behavior of the national economy, with emphasis on income determination, employment, price levels, and monetary and fiscal policy. Prerequisite: ECON 162.

ECON 304    Advanced Microeconomics    3 credits
Advanced Microeconomics is a study of general equilibrium and welfare economic analysis, resource pricing, price discrimination, information and time, external costs and benefits, public goods, transportation, and microeconomic foundations of aggregate demand and supply. This course also includes exposure to appropriate mathematical constructs. Prerequisite: ECON 301.

ECON 350    Business Cycles and Forecasting    3 credits
Business Cycles and Forecasting explores economic fluctuations in the modern American economy against the backdrop of the alternative theories explaining these fluctuations. Students in the course are presented with the quantitative data which describes the cycles and the analytical techniques used to generate economic forecasts. Prerequisites: ECON 302 and MATH 282.

ECON 360    International Trade    3 credits
International trade is an examination of the principles of international trade and finance and their application to the modern world. The concepts emphasized are exchange rates, theories of comparative advantage, economies of scale, tariffs, quotas, commercial policy, capital movements, reciprocal effect of changes in microeconomic and macroeconomic policies, the role of international organizations, and aid to developing countries. Prerequisites: ECON 162 and 163.
 
ECON 376 Junior Seminar in Economics 1 credit
The Junior Seminar in Economics is designed to prepare the student for Senior Seminar in Economics and Senior Project. In the course students gain command of the writing and research methods characteristic of contemporary economics and their incorporation in written and oral reports in economics. Prerequisites: Junior standing or permission of instructor.

ECON 476    Senior Seminar    3 credits
The Senior Seminar in Economics is a review of economic analysis with attention to the mathematical concepts and writing in Economics. In the course students improve their command of the research methods characteristic of contemporary economics and their incorporation in the preparation of oral and written reports in economics. Prerequisites: MATH 201 or ECON 205, ECON 376, and senior standing or permission of the instructor.
 
ECON 487-488     Independent Study    3 credits

ECON 490    Senior Project    2 credits
The Senior Project is open only to students majoring in Economics. Students prepare and present a senior project. The topic for the senior project must be selected during the first semester of the senior year and must be approved by the department chair.
 
ECON 495 Comprehensive Exams
This course is an administrative placeholder used to record a student’s score on Comprehensive Exams (CR/NCR).