Economics Economics General Information 663. Networking & Information Systems (4) W, S This course covers the role of networking technology in information systems. Through hands-on and conceptual knowledge, the student will learn how data communications and networks are used to facilitate decentralized and distributed systems in support of decision making. Various aspects of networking including standards, media, network design and applications will be covered. The student will gain hands-on familiarity with a local area network and the Internet. Prerequisite: IS&T 662. NOTE: Information Systems & Technologies courses require a significant amount of data entry through a video display terminal. Because of this, keyboarding skill is strongly recommended. It is further recommended that majors acquire a personal computer. DEPARTMENT OF ECONOMICS Chair: Richard M. Alston Location: Wattis Business Building, Room 226 Telephone: 626-6066 Professors: Richard M. Alston, Wan Fu Chi, Dix Cloward, Dan Fuller, John M. Mbaku; Associate Professors: Clifford Nowell, Sarah E. Tinkler; Assistant Professor: Lisa Crone Description The department of economics offers two different degree programs. The career field selected will determine the educational goals a student must set and will be an important element in deciding which of the many avenues towards a bachelor's degree available in economics is best suited for you. The Bachelor's Degree with a Business Economics Major is described in this, the Business and Economics section of the catalog. See the Social and Behavioral Sciences section of the catalog for a complete description of the programs leading to a Bachelor's Degree with a General Economics Major (Social Science Emphasis). Economics provides general analysis of decision making where resource constraints are present. Within the area of business, the fields of economics and finance are perhaps the most rigorous in terms of the use and application of mathematical and statistical reasoning. Students with a bachelors degree in Business Economics are generally prepared to take entry level jobs in any area of business, but are particularly prepared for jobs that call for data analysis, pricing, purchasing, and report writing. Business economists are often employed in private business firms in the financial, retailing, and industrial sectors. A complete career guide is available from the department chairperson. A degree in Business Economics is also regarded by graduate business schools as excellent preparation for advanced work toward an MBA, as well as advanced degrees in other business related disciplines such as human resource management, public administration, finance, and international business. Students seeking an advanced degree in economics, law, other social and behavioral sciences, urban and regional planning, actuarial science, etc., should also investigate the General Economics Major described in the Social and Behavioral Sciences section of the Catalog. PROGRAM: BUSINESS ECONOMICS MAJOR-BACHELOR DEGREE General Requirements: • WSU Core Requirements (see index). • General Education Requirements (see index). College of Business and Economics Requirements: • See College of Business and Economics section of the catalog. Major Requirements (minimum of 35 credit hours): • Required courses (12 credit hours): Econ 301 (4), 302 (4); IS&T 340 (4). • Elective courses (minimum of 23 credit hours): Select from any course offered by the department of economics with an economics designation (i.e., Econ as opposed to Quant; see graduation contract form available in the economics departmental office for a list of currently acceptable courses). • Students may enhance their program by selecting a maximum of two non-economics courses to be included in these 23 hours. These must be upper-division courses (numbered 301-499) in related disciplines, and they must be approved in advance by the department chair. PROGRAM: ECONOMICS HONORS OPTION General Requirements: • Enroll in the General Honors Program and complete at least 10 hours of general honors courses (see the Interdisciplinary Programs section of the catalog). • Maintain an overall GPA of 3.3 • Fulfill requirements for Economics Department major, given above for Business Economics and, for General Economics, in the Social and Behavioral Sciences section of the catalog. Specific Requirements: In fulfilling requirements for an economics honors major, students must take at least 14 hours of economics courses on an honors basis, 2 hours of which must be completed as a senior project (Honors 499). Either Economics 301 or 302 must be taken on an honors basis. The student may receive economics honors credit in any upper-division or graduate-level economics course. Permission from the department chair must be obtained before registering in a course for honors credit. A written agreement must also be reached with the appropriate professor regarding the work expected for honors credit. PROGRAM: ECONOMICS MINOR FOR NON-BUSINESS MAJORS General Requirements: • A grade of 2.0 or better in minor courses. Specific Requirements: (minimum of 20 credit hours): • Required courses (8 credit hours): Econ 202 (4), SS203 (4). Note: Math 107 with a grade of C or higher is a prerequisite for Econ 202. • Elective courses (12 credit hours): Select from any course offered by the department of economics with an economics designation (i.e., Econ as opposed to Quant; see graduation contract form available in the economics departmental office for a list of currently acceptable courses). m ECONOMICS COURSES-ECON SS101. Principles of Economics (5) Su, A, W, S Introduction to basic economic institutions and principles of economics for non-business and economics majors. Topics include scarcity, supply and demand and the exchange economy for goods and services, standards of living and income distribution, national income, aggregate demand, aggregate supply, the price level and inflation, employment, international trade, and comparative economic systems. 202. Microeconomic Analysis (4) Su, A, W, S The application of economic concepts to private sector problems. Topic coverage includes choice theory, the theory of the firm, introduction to general equilibrium analysis, and the theory of market structures. Prerequisite: Math 107 with C or higher grade. SS203. Macroeconomic Analysis (4) Su, A, W, S Introduction to principles of macroeconomics for business and economics majors. The course focuses upon the analysis of economic instability, inflation, stagflation, and fiscal and monetary policy. Topics include standards of living and income distribution, national income, aggregate demand, aggregate supply, the price level and inflation, employment, international trade. The determination of national income is stressed. Prerequisites: Math 107 and Econ 202. SS/SB274. Economic History of the United States (5) A, W, S A critical study of the growth and development of American society and its institutions. 292. Short Courses, Workshops, Institutes, and Special Programs (1-6) Consult the quarterly class schedule for the current offering under this number. The specific title and credit authorized will appear on the student transcript. See College of Business and Economics Registration Restrictions before registering for courses numbered 301 and above. 301. Intermediate Theory: Macroeconomics (4) A, W, S Theories of long-run economic growth and short-term fluctuations in an open economy, with emphasis on theory of aggregate employment, inflation, recession, and appropriate policies to encourage long-run growth while mitigating the negative effects of short-term fluctuations. Prerequisites: Econ 202, SS203; Math 107 with a grade of C or higher. 302^ Intermediate Theory: Microeconomics (4) A, W, S Consumer behavior, demand analysis, economics of the firm, and price theory. Prerequisites: Econ 202; Quant 240 and 261. 303. Managerial Economics (4) The course utilizes microeconomic theory to analyze the managerial decisions of individual business firms. Optimization, demand, production, cost, and pricing theories are examined. Emphasis is placed upon problem solving including the use of computer software to forecast and simulate. The course is recommended for business students. Prerequisites: Econ 202; Quant 240, 260 and 261. 309. History of Economic Thought (4) S The major concepts and contributions of the scholars of the past in economic doctrine and interpretations. Prerequisites: Econ 301, 302. 311. International Trade (4) A, W, S Introduction to the pure theory of trade, international trade agreements and negotiations (e.g., GATT, NAFTA), and the institutions designed to enhance world-wide trade. Emphasis is placed on the benefits of free trade and open market macroeconomics as well as the pros and cons of erecting barriers to trade (e.g., tariffs and quotas). Prerequisites: Econ 202, SS203. \ 312. International Finance and Monetary Systems (4) Applications of the principles of economics to the money and banking institutions prevalent in the international economy. Emphasis on monetary systems, foreign exchange mechanisms, and regional monetary arrangements such as the World Bank, the IMF, and unification of European currencies. Prerequisites: Econ 202, SS203. 320. Money and Banking (4) A The history of money and credit, the evolution of banking, the Federal Reserve System, and other banking problems and functions. Prerequisite: Econ SS203. Student Services Interdisc. Programs Applied Science & Technology Arts& Humanities Business & Economics Education Health Professions Science Social & Behavioral Sciences 152 153 Continuing Education