50:220:102:90 Microeconomics Principles (3)
The course objective is to provide the student with an introduction to microeconomics. Topics include the market system, supply and demand, cost, competition, monopoly, oligopoly, factor markets, and public goods. After completing the course, the student will be familiar with how an economist thinks. Students will be able to (i) apply the supply and demand model graphically and numerically; (ii) evaluate the opportunity cost of an economic decision; (iii) describe the model of the firm and calculate how changes in input prices, product demand and market structure affect firm output, prices and profits; and (iv) analyze the implications of operating under different market structures and the basic implications of efficiency and failures of the market system. Students will demonstrate this through discussion and analysis of outside reading, through solving numerical problems, Coursework is meant to instill an appreciation of both the power and limits of economic analysis and constitute a framework for future courses in business curriculum.
No-Prerequisites
50:220:103:90 Macroeconomic Principles (3)
This course will explore the fundamentals of Macroeconomic theory and contemporary application. Issues will include the economizing problem, supply and demand, market systems, labor, consumption, saving, government policy, banking and financial markets. There will be a special emphasis on how the macro economy impacts individual households as we seek to relate basic economic theory with current events and real life situations. This will be a highly interactive, participant-driven class.
Topics and concepts include the basis of economics; the economizing problem; demand and supply; global market systems; the U.S. economy about components and participants; measuring domestic output & national income; introduction to economic growth and instability; inflation and deflation; the business cycle; labor and unemployment; fiscal policy; monetary policy; and banking and capital markets.
No-Prerequisites
50:220:110 American Economy (3)This course will discuss several issues such as the minimum wage, rent control, crime, drugs, education, poverty, housing, health care, social security, environment, agriculture, international trade, market power, unemployment, inflation, taxes, government deficits and debt through the lens of an economist. While discussing these topics analytically, the stand points of conservatives and liberals are highlighted. This course enables students to learn enough basic economic theory to be able to discuss economic policy in an informed manner.
Prerequisites: none
50:220:200:90 Economic Reasoning & Applications (3)
This course will introduce the essential elements of micro-macroeconomic reasoning and its practical applications at a fundamental level. Topics include resource allocations, basic economic relations, market efficiency, market failure, consumer behavior, production and cost analysis, market structures, measuring output, unemployment and inflation, economic growth, business cycles, financial markets, and government policies. After the coverage of each topic, real-life examples will be used to show students how each theorem can be applied to practical issues/situations.
No-Prerequisites
50:220:203:90 Intermediate Economic Theory, Microeconomics (3)
Roles of supply and demand under varying degrees of market competition in determining price and output of goods, factor inputs, and their prices; emphasis on the social implication of these market conditions.
Prerequisites: 50:220:102 and 103
50:220:204:90. Intermediate Economic Theory, Macroeconomics (3)
Role of consumption, savings, investment, government monetary and fiscal policies, and international economic relations in affecting national income, employment, the price level, and economic growth.
Prerequisites: 50:220:102 and 103
50:220:212:90 Sports Economics (3)
This course is designed to take foundational microeconomic theory and apply it to the sports industry of the United States. We will be exploring the application of various subsets of microeconomic theory including Industrial Organization, Labor Economics, and Public Economics. The learning structure is lecture and discussion based. Students are expected to come to class having adequately prepared to participate. This preparation includes advanced reading of the textbook topics and formulating questions throughout the week regarding the material and/or relevant real-world examples. The class is analytical and requires a strong foundation in fundamental algebra.
Prerequisites: 50:220:102 and 103
50:220:222 Foundations of Econometrics (3)
This class shows students how to apply modern statistical methods to explore and quantify the relationships between essential variables used in economics. The foundations part of the class begins with a review on set theory, random variable, probability distributions (discrete and continuous), and statistical inference. Some important linear algebra tools, such as matrix operations, will also be covered. Both Linear and Generalized Linear models will be introduced to students. The applied work includes the topic of Capital Asset Pricing Model, yield curve and prediction of business cycles, regional crime rate study, housing price determinants, Okun’s Law, Phillips Curve, and Purchasing Power Parity theory etc. will be used to show how empirical work is done using different statistical models.
Prerequisites: 50:220:102 and 103
50:220:301:90 Money and Banking (3)
This course will provide an in-depth examination of the money and banking structure within the U.S. economy and covers the U.S.’s historical development of monetary and banking institutions as well as addresses current problems facing monetary management. The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking, not just in the U.S., but globally. By employing an analytical framework to traditional money and banking models, this course provides students with knowledge on theories of money and their applications to a rich array of current real-world events.
Prerequisites: 50:220:102 and 103
50:220:303:90 Consumer Economics (3)
This course deals with economics and its impact on consumer issues, behaviors, decisions and the development of personal financial strategies as it relates to the consumer life cycle. Topics covered will include the economy, consumer information and protection, budgeting, saving, borrowing, credit, and housing, investing and protecting financial resources.
Prerequisites: 50:220:102 and 103
50:220:305:90 American Economic History (3)
Overview, analysis of such selected topics as population, government, capital accumulation, and technology contributing to the development of economic life and institutions in the United States. The course will provide a detailed review and discussion of the American economy’s growth and evolution. Emphasis will be placed on trends and developments over the last century. However, selected topics from earlier in the country’s development will also be discussed as appropriate.
Topics to be covered will include a review of the American business cycle over time, the role of monetary and fiscal policy at different times in the country’s history, and issues related to the growth and development of the nation’s labor force. The objective of the course is to provide the student with an appreciation of how the American economy has evolved over time and to promote a better understanding of the challenges facing the American economy today.
Prerequisites: 50:220:102 and 103
50:220:308:90 Managerial Economics (3)
This course is designed to provide a foundation in the study of Managerial Economics through applied microeconomic analysis. The goal of this course is to initiate an approach business strategy rooted in the logical analysis of an economist. The importance of critical thinking in paramount to both business management and the field of economics. While economics is, at its core, a social science, this course will highlight the essential application of economic theory to the world of management. The learning structure is online and active discussion is imperative. Students are expected to adequately prepare to contribute to the online forum. This preparation includes advanced reading of the textbook topics and formulating questions throughout the week regarding the material and/or relevant real-world examples.
Prerequisites: 50:220:102 and 103
50:220:313 Economics of Labor (3)
The course provides an analysis of labor markets, including determination of wage levels, compensation and working conditions, investment in human capital, differential wages, discrimination, racial and gender disparities, labor migration and unions, strikes and collective bargaining. In addition, the course examines current issues facing employees and unions in the United States. Marginal productivity theory is applied to wage-employment analysis.
Prerequisites: 50:220:102 and 103
50:220:317 Social Marketing: Strategic Approach for Health Promotion (3)
Social marketing is an approach used to develop activities aimed at changing or maintaining people’s behavior for the benefit of individuals and society as a whole. It can be a powerful mechanism for behavior change and can promote or inhibit health behaviors. This course is designed to introduce the theoretical underpinnings in the field of communication and reviews how social marketing strategies are used to influence health behavior. The focus is on print and electronic media and touches on individual communication. Topics include: how communication theory informs health behavior change interventions; steps involved in planning communication campaigns about health; and skills useful in the execution of communications, such as pre-testing, designing health materials, and writing press releases.
Prerequisites: 50:220:102 and 103
50:220:322:90 Econometrics (3)
This course introduces students to multiple regression methods for analyzing data in economics and related disciplines. Extensions include regression with discrete random variables, instrumental variables regression, analysis of random experiments and quasi-experiments, and regression with time series data. The objective of the course is for the student to learn how to conduct – and how to critique – empirical studies in economics and related fields. Accordingly, the emphasis of the course is on empirical applications. The mathematics of econometrics will be introduced only as needed and will not be a central focus.
Prerequisites: 50:220:102, 50:220:103 and 50:960:283
50:220:325:90 Financial Market and Institutions (3)
Role of banks, insurance companies, investment companies, finance companies, pension funds, credit unions, and such institutions in financial markets, and their impact on how the economic and financial systems function. Lending and borrowing activities, investment portfolio policy, and regulatory environment of each type of financial intermediary examined.
Prerequisites: 50:220:102 and 103
50:220:330:90 Urban Economics (3)
Analysis of the economic forces leading to the existence, growth, and decline of cities and of the factors affecting land use within a city. The course also offers provision of local public services, local taxes, and the size of local governments. The economic analysis of urban problems includes housing, poverty, transportation, and land use.
Prerequisites: 50:220:102 and 103
50:220:331:90 International Economics (3)
A study of the fundamentals of international economics. Analyzes comparative advantage of trade, free and restriction on trade, tariff and quota, international resource flow, foreign exchange markets, foreign exchange rates and risks, balance of payments, inter-national operation of the U.S. economy, and government policies affecting the development and structure of the world economy.
Prerequisites: 50:220:102 and 103
50:220:339:90 Economic Development (3)
This course will take you through an exciting journey that will acquaint you with the forces that influence economic development and growth. Theories of economic development are studied in the context of rich empirical works conducted by international agencies like World Bank and United Nations, and academicians on developing / underdeveloped countries. As a part of curriculum, we will begin by exploring the concept of development, and go through various components of development that economists typically study, including economic growth, income inequality, poverty, population, Education, health and nutrition. Next, the causes and consequences of typical problems that the underdeveloped countries face like low savings, inadequate investment and foreign borrowing are dealt. Finally, the characteristics and policy issues on agriculture, industry, technology and trade of developing/underdeveloped countries are focused. The course has a broad reach and is relevant as an introduction to the subject for continuing students as well as to people who work in the world of policy and business.
While introducing the students to the theory and empirical analysis in development economics, the course aims at achieving the following goals. The first goal is to ensure the students understand real conditions and institutions across the developing world. The second, is to help students develop analytical skills while broadening perspectives of the wide scope of the field. The third, is to provide students with the resources to draw independent conclusions on economic development and poverty alleviation.
Prerequisites: 50:220:102 and 103
50:220:363:90 Economics of Investment and Capital Markets (3)
Analysis of economic investment by using economic tools: value of firms, economic efficient frontier, lending and borrowing, utility analysis and investment selection, market interest rates, correlation structure of security returns, short- and long-term international investments with foreign risks, capital asset pricing model, efficient markets, and investment decision management.
Prerequisites: 50:220:102 and 103
50:220:366:90 (ST) U.S. Healthcare: Organization, Delivery and System (3)
This course provides an introduction to health policies and policy making in the US public health and health care delivery systems. The primary objective of the course is to provide students with the tools and historical context to critically assess a wide variety of policies—past, current, and future. The course covers the foundation that is necessary for understanding the U.S. health care delivery system, which is distinct from any other system in the world. In addition, the course covers the system processes, beginning with outpatient and primary care services, hospitals, managed care in integrated systems, as well as the different types of arrangements found in integrated organizations. Finally, the course covers the ability of the U.S. health care system to meet population needs, policy environment that influences access to care, and trends that could impact the system in the future. The instructor will introduce the topics and guide through online discussions. No disciplinary background is assumed, nor is any special familiarity with the field of health care is required.
Prerequisites: 50:220:102 and 103
50:220:368:90 (ST) Healthcare Operations and Management (3)
With healthcare spending in the United States exceeding 16% of GDP and the demand for health services continuing to increase, improvements in the quality and efficiency of healthcare delivery are urgently needed. Healthcare management students and working professionals are in search of improving the management and delivery of healthcare and thereby to increase the effectiveness and efficiency of tomorrow’s healthcare system.
This course dwells into aspects of basics of operations improvement and also provides an overview of the significant environmental trends in the healthcare industry. A focus is given on strategic implementation of process improvement programs, techniques, and tools in the healthcare environment with its complex web of reimbursement systems, physician relations, workforce challenges, and strong governmental regulations. This integrated approach will help healthcare professionals gain an understanding of strategic operations management and, more importantly, its applicability to the healthcare industry.
Prerequisites: 50:220:102 and 103
50:220:399 Economics of Multinational Corporation (3)
How multinational corporations make decisions as to where and how to invest for profit-risk factors in various circumstances. Relevant government regulations, institutions, and corporations have to deal with cultural and environmental factors, and political risks. The course examines effects of currency and capital transfers on corporations and political & social environments of the countries involved.
Prerequisites: 50:220:102 and 103
50:220:472:90 Economic Analysis of the Law (3)
The law impacts individuals in our many roles as citizens, employees, investors, consumers and family members. Law impacts decisions of leaders in the management of business and government. This course examines areas of the law which economic theory informs outcomes, including property law, tort law and liability, contract law and crime and punishment. Students will use the economic ideas of efficiency and rational optimization to analyze legal outcomes in resource allocation. We will use Cooter & Ulen’s text and outside readings to inform our analysis.
The application of basic economic concepts and analyses to the law and legal processes. How economics can be used to study issues in tort, criminal, contract, property, and negligence matters. Examine economic implications of the law pertaining to racial discrimination, environmental protection, and other standard corporate regulatory provisions.
Prerequisites: 50:220:102 and 103