Economics (EC) 1
ECONOMICS (EC) EC 0011 Introduction to Microeconomics 3 Credits This course analyzes the behavior of individual consumers and producers as they deal with the economic problem of allocating scarce resources. The course examines how markets function to establish prices and quantities through supply and demand, how resource costs influence ﬁrm supply, and how variations in competition levels affect economic efﬁciency. Topics may include antitrust policy, the distribution of income, the role of government, and environmental problems. The course includes computer applications. EC 0012 Introduction to Macroeconomics 3 Credits This course develops models of the aggregate economy to determine the level of output, income, prices, and unemployment in an economy. In recognition of the growing importance of global economic activity, these models incorporate the international sector. The course examines and evaluates the role of public economic policy, including ﬁscal and monetary policy. Topics may include growth theory and price stability. The course includes computer applications. EC 0112 Economic Aspects of Current Social Problems 3 Credits Attributes: LCEL LACS Minor: Elective This course uses a policy-oriented approach to study contemporary economic issues. Topics include government spending, the role of federal budgets in solving national problems, poverty, welfare, social security, population, the limits to growth controversy, pollution, energy, and regulation. EC 0114 The Economics of Race, Class, and Gender in the American Workplace 3 Credits Attributes: EDCG Educational Studies Cognate, EDDV Educational Studies Diversity, UDIV U.S. Diversity, WSGF Women, Gender, and Sexuality Studies: Gender Focused This course examines the impact of race, class, and gender differences on decisions made in households and in the workplace. It begins with an in-depth analysis of labor supply decisions and responsibilities of households, moving to an examination of labor demand decisions and wage-rate determination. The course reviews applications of theoretical predictions as they relate to important public policy issues such as child and elder care, social security, pay equity, the glass ceiling, afﬁrmative action, sexual harassment, and poverty. EC 0120 Environmental Economics 3 Credits Attributes: EVME Environmental Studies Major Elective, EVPE Environmental Studies Elective, EVSS Environmental Studies: Social Science, LCEL LACS Minor: Elective, WDIV World Diversity This course, which presents an overview of the theory and empirical practice of economic analysis as it applies to environmental issues, ﬁrst establishes a relationship between the environment and economics. It then develops the concept of externalities (or market failures) and the importance of property rights before exploring the valuation of nonmarket goods. It examines the practice of beneﬁt-cost analysis and offers economic solutions to market failures, while highlighting pollution control practices, especially those based on incentives. Throughout, the course examines current issues regarding environmental protection around the globe.
EC 0140 Health Economics 3 Credits Attributes: HSSS Health Studies: Social Science This course begins by applying microeconomic theory to the health sector of the U.S. economy. The U.S. experience will be generalized to global health issues and alternative health care systems. Topics include the demand for health care and health insurance, managed care and the role of government, physician compensation, and specialty choice, the role of nurses and other healthcare professionals, the hospital sector, and medical cost inflation. EC 0150 Media Economics 3 Credits This course analyzes the operation and consumption of the music, television, and entertainment industries within a microeconomic framework. Students will learn what forms of competition drive the production and distribution of media in the context of a changing technical environment. Theories of different media market settings will be illustrated and then concepts reinforced by real-world examples, including the changing operation of music production and distribution as the internet evolves, and the ways in which current media companies integrate seemingly different products. To explain these processes the topics of competition, pricing, industry structures, and regulatory environments will be explored. EC 0152 Economics of Sport 3 Credits This course develops and examines the tools and concepts of economic analysis as they apply to the sports industry. Topics in professional sports include free agency, salary cap, and new franchises. The course also explores economic issues and institutional structures of sports such as golf and tennis, and the broader industry including the National Collegiate Athletic Association, sports equipment, advertising, minor leagues, and the Olympics. Students gain an increased understanding of how economics affect them through this combination of sports and economics. EC 0185 Regional Economic Development 3 Credits This course includes two key components: a theoretical examination of the basic theories of regional economic development such as growth poles, spillovers, infrastructure requirements, and center-periphery analysis; and an application of these theories to a speciﬁc economic issue. Students participate in a comprehensive study of a signiﬁcant economic issue facing a Connecticut community, in cooperation with a regional agency, resulting in detailed analysis of the issues and potential solutions. Fieldwork is required. EC 0204 Intermediate Microeconomic Theory 3 Credits Prerequisite: EC 0011. This course builds upon and expands the theoretical models of EC 0011. The course introduces indifference curves to explain consumer behavior; short- and long-run production functions, showing their relationship to product costs; and the efﬁciency of various competitive market structures. Topics include marginal productivity theory of income distribution, monopoly, and general equilibrium theory. EC 0204L Intermediate Microeconomic Theory Lab 1 Credit Corequisite: EC 0204. In this lab, students actively engage in the science of economics. Activities include lectures on mathematical methods, advanced problemsolving projects, collaborative teamwork experiences, and computer simulations. Note: This lab is required of all students pursuing the BS in economics; it is optional for students earning the BA.
2 Economics (EC)
EC 0205 Intermediate Macroeconomic Theory 3 Credits Prerequisite: EC 0012. This course, which includes computer applications, analyzes the determination of national income and output; ﬁscal and monetary tools; and growth, inflation, and stabilization policies.
EC 0231 International Trade 3 Credits Prerequisite: EC 0011. This course covers international trade theory, U.S. commercial policy (tariffs, quotas), common markets, trade with and among developing nations, balance of payments disequilibria, and multinational enterprises.
EC 0205L Intermediate Macroeconomic Theory Lab 1 Credit Corequisite: EC 0205. In this lab, students actively engage in the science of economics. Activities include lectures on mathematical methods, advanced problemsolving projects, collaborative teamwork experiences, and computer simulations. Note: This lab is required of all students pursuing the BS in economics; it is optional for students earning the BA.
EC 0233 International Economic Policy and Finance 3 Credits Prerequisite: EC 0012. This course explores international ﬁnancial relations. Topics include the international monetary system, exchange rate systems, balance of payments adjustment mechanisms, and changes in international ﬁnance relations. It treats theoretical concepts and considers governmental policy approaches to the various problems.
EC 0210 Money and Banking 3 Credits Attributes: BUEL Business Elective Prerequisite: EC 0012. This course covers the commercial banking industry, the money market, Federal Reserve operations and policy making, and monetary theory.
EC 0235 Economic Development of Third World Nations 3 Credits Attributes: LCEL LACS Minor: Elective, WDIV World Diversity Prerequisites: EC 0011, EC 0012. This course considers the nature and causes of problems facing lowincome nations, with a focus on the impact that various economic policies have on promoting economic development.
EC 0224 Labor Economics and Labor Relations 3 Credits Prerequisites: EC 0011, EC 0012. Nearly 70 percent of income earned in the United States is a return to labor. This course applies the fundamentals of microeconomic and macroeconomic analysis to important decisions that people make in labor markets. From an employee's perspective, questions include: Should I work in exchange for a wage? If so, how much? How will my work affect my lifestyle and family decisions? Should I go to school to improve my skills? From an employer's perspective, questions include: Should I hire workers? If so, how many? How should I pick workers out of a pool of applicants? What techniques should I use to provide incentives for these workers? Many of the answers to these questions require complex analysis and an understanding of the impact of government policy on the workplace. The course explores a variety of public policy issues such as minimum wage programs, government welfare programs, workplace regulatory requirements, Title IX, immigration, and the union movement. EC 0225 Environmental Economics 3 Credits Attributes: EVME Environmental Studies Major Elective, EVPE Environmental Studies Elective, EVSS Environmental Studies: Social Science, PJST Peace and Justice Studies Prerequisites: EC 0011, EC 0120. This in-depth examination of the economic tools used in environmental economics and policymaking builds on basic environmental economic concepts and provides the opportunity to put those concepts into practice. The course explores common externalities and market failures in the United States and analyzes governmental policies used to control them. EC 0230 Comparative Economic Systems 3 Credits Attributes: LCEL LACS Minor: Elective, WDIV World Diversity Prerequisites: EC 0011 or EC 0012. Is communism dead? Is capitalism the only real economic system left? This course explores the various economic systems that are used to distribute resources, i.e., to decide "who gets what" in a nation's economy. The course considers the differences between alternative distribution mechanisms, what it means to transition from one system to another, and how these economic decisions are affected by political and national realities. Because there are so many international alternatives to be explored, each semester focuses on an economic region of the globe: Asia, Eastern Europe and Central Asia, Africa, or Latin America. This course, where appropriate, is available for credit in international studies or area studies programs.
EC 0250 Industrial Organization and Competitive Strategy 3 Credits Prerequisite: EC 0011. Using microeconomic theory, this course examines the economic behavior of ﬁrms and industries, identifying factors affecting the competitive structure of markets and using these structural characteristics to evaluate the efﬁciency of resource use. Topics include mergers, measures of concentration, pricing, entry barriers, technological change, and product development. EC 0252 Urban Economics 3 Credits Prerequisites: EC 0011, EC 0012. This course analyzes the development of modern urban areas by applying the tools of economic analysis to their problems. Topics include transportation, housing, and the provision and ﬁnancing of public services. EC 0270 Engineering Economics 3 Credits Prerequisite: EC 0011. Engineering projects must be analyzed based upon their technical soundness, but also upon their ability to attract investment dollars in a market economy. This course prepares engineering students to apply microeconomic, ﬁnance, and statistical methods as they analyze the economic feasibility of projects. Students will learn about capital budgeting, risk and uncertainty, demand analysis, production and cost modeling, and linear programming. They will apply Excel and other computer-based simulations to analyze data. The goal of the course is ultimately to provide the student with the economic decision-making skills he or she needs to plan, design, and ﬁnance engineering projects. EC 0275 Managerial Economics 3 Credits Prerequisite: EC 0011. This course prepares economics and business students to apply microeconomic, ﬁnance, and statistical methods as they analyze the economic feasibility of projects. Students will learn about capital budgeting, risk and uncertainty, demand analysis, regression analysis, production and cost modeling, and linear programming. They will apply Excel and other computer-based simulations to analyze data. The goal of the course is ultimately to provide students with the economic decisionmaking skills they need to plan, design, and ﬁnance projects, and to understand how various divisions of a ﬁrm must work together to achieve goals.
Economics (EC) 3
EC 0276 Public Finance 3 Credits Prerequisites: EC 0011, EC 0012. This course examines government expenditure and tax policies with an emphasis on evaluation of expenditures; the structure of federal, state, and local taxes; and the budget as an economic document. EC 0278 Economic Statistics 3 Credits Attributes: EVAP Environmental Studies: Applied Professional Skills Prerequisites: EC 0011, EC 0012. This course introduces students to descriptive statistics, probability theory, discrete and continuous probability distributions, sampling methods, sampling distributions, interval estimation, and hypothesis testing. A weekly lab provides opportunities for active exploration and application of course concepts. EC 0278L Economic Statistics Lab 1 Credit Corequisite: EC 0278. In this lab, students actively engage in the science of statistics. Activities include lectures on mathematical methods, advanced problem-solving projects, collaborative teamwork experiences, and computer applications appropriate to statistical analysis. Note: This lab is required of all students pursuing the BS in economics; it is not required for students earning the BA. EC 0290 Mathematical Economics 3 Credits Prerequisites: EC 0011, EC 0012, MA 0016. This course applies mathematical models and concepts to economic problems and issues. Mathematical techniques include calculus and matrix algebra. Economic applications include the areas of consumer theory, theory of the ﬁrm, industrial organization, and macroeconomic modeling. EC 0298 Independent Study 1-3 Credits For economic majors only, this course is open to seniors by invitation or mutual agreement with the instructor. EC 0299 Internship 3 or 4 Credits Students, placed in a professional environment by the department, use economic and analytical skills acquired from their courses in a nonacademic job setting. Students submit a written assignment detailing their internship experience to a faculty sponsor by the end of the term. Enrollment by permission only. EC 0320 Financial Markets and Institutions 3 Credits Prerequisite: EC 0210. Topics include capital markets, ﬁnancial intermediaries, equities, bonds, options, futures, security analysis, portfolio theory, and the efﬁcient markets hypothesis. Students manage a hypothetical portfolio and use a computer model. EC 0380 Econometrics 3 Credits Prerequisites: EC 0011, EC 0012; EC 0278 or MA 0217. This course introduces students to the process used to formulate theories of economic behavior in mathematical terms and to test these theories using statistical methods. The course discusses the technique and limitations of econometric analyses as well as methods available for overcoming data problems in measuring quantitative economic relationships. EC 0397 Microeconomics Seminar 3 Credits This seminar seeks to familiarize participants with recent developments in the discipline and sharpen research skills. Students complete a research project concerning a topic of their choice. The course includes computer applications. Enrollment by permission only.
EC 0398 Macroeconomics Seminar 3 Credits This seminar seeks to familiarize participants with recent developments in the discipline and sharpen research skills. Students complete a research project concerning a topic of their choice. The course includes computer applications. Enrollment by permission only.