300

The basic problems of starting a new business, obtaining sufficient capital, and bringing a new business to success are examined, thereby enhancing an understanding of risk, uncertainty, and markets, and the motivations and influence of the legal system within which an economy works. Gives credit for majors in Economics or Business. Prerequisites: BUS-100 and ECO-211.

Provides a thorough grounding in intermediate-level microeconomics. Basic factors of price and distribution theory will be proposed. The standard topics will be covered, including supply and demand analysis, the behavior of consumers and firms, the structure and performance of markets, income distribution, externalities and public goods, and general equilibrium analysis. Prerequisite: ECO212

Provides a thorough grounding in intermediate-level macroeconomics. The course will provide a presentation and study of national income aggregates and accounting including equilibrium analysis of output, employment and the price level, business cycle theory, international macroeconomics and finance, and advanced discussions of economic growth. Prerequisite: ECO-213.

In this course, students will illustrate the laws of supply and demand and their relationship to pricing signals in a market economy. They will have the opportunity to calculate price elasticity while given the opportunity to interpret the concepts of scarcity, opportunity costs, and comparative advantage as used in making business decisions. Students will illustrate the relationship between the concept of productivity, standard of living, and basic macroeconomic concepts. Financial systems will be described along with illustrating the difference between a price-taking firm and a price-searching firm. Various methods of calculating business operation costs will be explored. Students will be expected to apply biblical truth to economic concepts. Not open to students with credit in ECO-330.

An introduction to urban economic theory, urban spatial form, and urban policy problems. Topics include theories of urban evolution and form, regional comparative advantage and trade, urban economic growth and development, the limits to metropolitan size, land-rent gradients, public goods and externalities in urban areas, and urban policy problems: poverty, housing, segregation, transportation networks, congestion, land use planning and issues in local and regional governance and public finance. Pre-requisites: ECO-212 or ECO-213. Student should also be proficient in basic math, algebra and geometry. Knowledge of statistics will also be helpful.

A survey of the history of the United States from the economic viewpoint. Gives credit for majors in Economics or History. Prerequisite: HST-211 or HST-212 or ECO-212 or ECO-213.

This course will provide students with an introduction to research methods and statistical techniques used in social science research, particularly in the fields of economics and political science. This will include basic knowledge of the concepts and models employed for conducting experimental research, policy analysis and program evaluation, and unobtrusive research from data sets. Emphasis will be placed on using and applying the qualitative and quantitative techniques most widely utilized in social science research. This course gives credit for political science and social studies education majors. This course meets IDoE State Standards and required standards from the National Council for the Social Studies. Prerequisite: MAT-112, or MAT-204, or MAT-305, or BUS-320.

This course presents an overview of microeconomic theory as it relates to the individual business. Students will learn about scarcity and opportunity costs as core concepts in economic analysis and consider interdependence and gains from international trade. They will evaluate economic equilibrium conditions using supply and demand models, and differentiate between market types, seeking to understand the conditions necessary for building a competitive advantage. They will calculate and analyze cost, pricing, and revenue variables. Students will study why markets fail and discuss the causes of income inequality and poverty, while integrating a biblical framework to guide their economic reasoning.

An overview of macroeconomic theories and policy. The course focuses on the analysis of the current national economic environment and its effects on business operations.

An intensive study of recent globalization trends and their impact on both developing and developed economies. A survey of economic development theories in developing economies; the role and influence of the U.S. economy in global markets. Students will discuss current theories of economic development and the arguments for and against globalization, free trade, open immigration, technological change, and the free flow of financial capital. Development topics include population growth and fertility rates, gender equity, educational opportunities for women, private property rights, regime corruption, and the role of the IMF and World Bank in developing economies. Prerequisites: ECO-211 or ECO-213 or consent of the Department.

An exploration of individual and social responses to incentives created by legal rules and institutions. Topics include application of the economic way of thinking to the law of property, law of contracts, law of torts, criminal law, and constitutional law; analysis of the economic efficiency of the common law; and an introduction to the public choice perspective on the development of the law. Prerequisite: ECO-212 or ECO-213.

A penetrating analysis of public administration and expenditures. Explores revenue including taxation, budget examination, and the effect of fiscal policy on the economy. Gives credit for majors in Economics or Political Science. Prerequisite: ECO-212, ECO-213 or POL-100.

Work with a faculty mentor and in cooperation with an Honors College advisor, producing a research thesis or creative project.