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Course Offerings: Economics

Below is a list of available courses offered by the Economics Department. Consult the Registrar’s Office and the College Catalog for registration information.

Course List

ECON 101 - PRINCIPLES OF MACROECONOMICS

An introduction to the concepts and analytical tools of the economist. The frame of reference is the macroeconomy. Working with a variety of economic models, attention is focused on issues like the business cycle, interest rates, inflation, deflation, the stock market, Federal Reserve policy-making, government policy, and international trade. Hands-on research projects help students to make connections between economic theory and the real world Hours credit: 3.

ECON 102 - PRINCIPLES OF MICROECONOMICS

An introduction to the concepts and analytical tools of the economist as related to the microeconomy, which focuses on decision-making at the individual level. This course examines the behavior of consumers, firms, and industries, and their effects on resource allocation. Students study various market structures and gain an understanding of market failure and issues pertaining to the role of government at the microeconomic level. Hours credit: 3.

ECON 206 - MICROECONOMICS THEORY & ITS APPLICATION

This course examines in detail, producer and consumer theory, market structure, game theory, market failures, and the role of government in marketplace. Special attention is given to using microeconomic theory to analyze modern social and political problems. Hours credit: 3. Prerequisite: Economics 101R, 102R.

ECON 207 - MACROECONOMIC THEORY

An analysis of the aggregate U.S. economy. There is an emphasis on the construction of macroeconomic models to describe and analyze the economy. Such models help to establish the linkages between financial markets, labor markets, markets for goods and services, and markets in the rest of the world. Students gain an understanding of economic policy making through study of theories, institutions and economic data. Hands-on statistical research will help analyze the relationship between economic theory and the real world. Hours credit: 3. Prerequisites: ECON 101R and 102R.

ECON 217 - ECONOMICS OF THE PUBLIC SECTOR

This course studies the nature and consequences of the spending and taxing behavior of governments. Microeconomics tools will be applied to the study of such issues as public goods and externalities, income redistribution, poverty, social security, health care, education, transportation, housing, and government revenue generation. Throughout the semester, students will participate in a class-wide Lynchburg community service project related to one of the above issues, thereby providing hands-on exposure to some of the objectives and constraints faced by economists, government officials, and urban planners. Hours credit: 3. Prerequisites: ECON 101R and 102R.

ECON 219 - INTERNATIONAL ECONOMICS

On the microeconomic level, this course examines international trade theories and policies. International finance issues comprise the macroeconomic portion of the course. Special attention is given to using the tools of the economist to analyze contemporary problems in both international trade and finance. Hours credit: 3. Prerequisite: Economics 101R and 102R.

ECON 220 - ENVIRONMENTAL ECONOMICS

The application of economic principles in the analysis of contemporary environmental issues. Neoclassical as well as ecological perspectives will be considered. Hours credit: 3. Prerequisite: ECON 101R and 102R. Alternate years.

ECON 227 - ELEMENTARY APPLIED STATISTICS ECON/BUS

An introduction to descriptive and inferential statistics with applications for economics and business. Content includes probability theory, random variables, sampling distributions, hypothesis testing and the basics of linear regression and forecasting. Hours credit: 3. Prerequisite: BUS 151R or ECON 101R or 102R. A student may receive credit for two of these courses: ECON 227, MATH 227, POL 231, PSYC 227R, or SOC 395.

ECON 230 - DEVELOPMENT ECONOMICS

This is an intermediate-level undergraduate course in development economics. Through theories of development, empirical studies and country specific case studies, students will learn the roles of economic and non-economic factors in helping or hindering economic progress. Topics covered include poverty and income distribution, institutions, fertility and population growth, credit markets and microfinance, and human capital. Hours credit: 3. Prerequisites: ECON 101R and ECON 102R.

ECON 238 - MONEY & BANKING

This course examines in detail the financial sector of the U.S. economy and the manner in which it is linked to global markets. Particular emphasis is focused on the study of central bank decision-making regarding interest rates and economic stabilization. In a number of simulation exercises using the data analysis tools of the spreadsheet package Excel, students will analyze real economic data with an eye toward determining the appropriate direction of monetary policy. Hours credit: 3. Prerequisite: Economics 101R and 102R.

ECON 242 - LABOR ECONOMICS

A study of the participation of women and men in the U.S. labor force. Labor markets, labor law, and labor organizations will be examined. Topics include labor mobility, wage differentials, inequalities in income distribution, discrimination, and public policy considerations. Hours credit: 3. Prerequisites: Economics 101R and 102R. Offered alternate years.

ECON 250 - TOPICS IN ECONOMICS

In-depth exploration of a topic in economics. Topic will be determined by the instructor, and topics will vary. Hours credit: 3. Prerequisite: ECON 101R and 102R. May be repeated for credit when topic differs.

ECON 303 - ECONOMETRICS

A formal introduction to the use of economic theory and statistical inference as guides in the study of economic phenomena using observed data. This course focuses on the research process and the role of empirical modeling and regression in economics. Hours credit: 3. Prerequisite: ECON 101R; 102R; 227; and MATH 149R; or permission of the instructor. Offered spring semester.

ECON 311 - HISTORY OF ECONOMIC THOUGHT

A study of the development of economic thought and theory from the feudalistic period to the 20th century. Emphasis will be on the original writings of economists including Adam Smith, Thomas Robert Malthus, David Ricardo, Jeremy Bentham, John S. Mill, Karl Marx, W.Stanley Jevons, John B. Clark, Alfred Marshall, John M. Keynes, Milton Friedman, and others. Extensive economics background is suggested. Hours credit: 3. Prerequisites: 12 hours in economics, or a combination of 6 hours in economics with 6 additional hours in European or US history, or permission of instructor. Offered alternate years.

ECON 320 - ADV INTERNATIONAL ECONOMICS

Advanced discussion, analysis, and empirical verification of international economic theory and policy. Topics include: 1) exchange rate impacts on international trade and 2) distributional impacts of international trade. Hours credit: 3. Prerequisite: ECON 207 or 219. Offered alternate years. Offered first semester.

ECON 495 - SENIOR SEMINAR

In the first semester of the senior seminar, students make connections across their previous economics courses through readings and discussions on globalization and history of economic thought. Students gain a better understanding of how economic theories and policies shape the world in which we all live and which future generations will inhabit. A principal course objective is to prepare each student for the preparation and presentation of the senior thesis. To this end, students read and evaluate professional journal articles, review and enhance their understanding of the research methods used by economists, and identify ways to use these methods in their own research. The final assignment for the class is a senior thesis proposal. In the second semester, there is preparation and presentation of a senior thesis. Hours credit: 3. Prerequisite: major core.

ECON 496 - SENIOR PAPER

In the first semester of the senior seminar, students make connections across their previous economics courses through readings and discussions on globalization and history of economic thought. Students gain a better understanding of how economic theories and policies shape the world in which we all live and which future generations will inhabit. A principal course objective is to prepare each student for the preparation and presentation of the senior thesis. To this end, students read and evaluate professional journal articles, review and enhance their understanding of the research methods used by economists, and identify ways to use these methods in their own research. The final assignment for the class is a senior thesis proposal. In the second semester, there is preparation and presentation of a senior thesis. Hours credit: 3. Prerequisite: major core.

ECON 497H - HONORS IN THE MAJOR

ECON 498H - HONORS IN THE MAJOR

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