424 Course Descriptions ECON 3090 - History of Economic Thought (3) Sp This course covers the major concepts and contributions of the scholars of the past in economic doctrine and interpretations. Prerequisite: ECON 2010, ECON 2020. ECON 3110 - International Trade (3) F, Sp An introduction to the pure theory of trade, international trade agreements and negotiations (e.g., GATT, EU and NAFTA) and the institutions designed to encourage trade. Emphasis on the benefits of free trade as well as the reasons for the existence of trade barriers such as tariffs and quotas. Special topics include trade in agricultural products and international labor migration. Prerequisite: ECON 2010, ECON 2020. ECON 3120 - International Finance and Monetary Systems (3) Sp Applications of the principle of economics to the international monetary system. Special emphasis on the way in which international monetary institutions can facilitate trade. Macroeconomic models of an open economy are used to examine the effect that international trade and financial ties have on the domestic economy. Special topics include institutions such as the World Bank and the IMF, along with regional monetary unification in Europe. Prerequisite: ECON 2010, ECON 2020. ECON 3150 - Business Studies Abroad- International Finance (3) This course studies the globalization of financial markets and the environment in which international finance takes place, e.g., the international monetary system. With this background, a global financial strategy design for corporations will be discussed. This course is taught at Fachhochschule Hof, Germany during each fall semester. Students enrolled in this course have to participate in the Study Abroad Program (Contact: Doris Geide-Stevenson, ext. 7634, dgsteven@weber. edu). ECON 3200 - Money and Banking (3) Sp This course presents a detailed description and economic analysis of the U.S. financial system which includes the banking industry, bond and stock markets, and the Federal Reserve system. This course serves as an extension to the material covered in an introductory macroeconomics course. The enhanced understanding of the workings of the financial system, including the determination of interest rates, will be used to trace out the channels of monetary policy as conducted by the Federal Reserve and the effect of monetary policy on financial markets, such as the stock market. Prerequisite: ECON 2020. ECON 3400 - Labor Economics (3) F The study of labor economics explores choices made by the two sides of the labor market, employers and workers and how these choices interact in determining wage and employment levels. Hence, an important part of the course consists of a detailed analysis of labor demand and supply. This analysis is followed by a discussion of why the labor market often does not clear, i.e., why we observe unemployment. The analysis focuses on special features of the labor market such as minimum wage, labor unions and efficiency wages. Other topics include the effect of education and training on earnings, the optimal incentive structure of an employment contract and determinants of income inequality. Prerequisite: ECON 2010. ECON 3410 - Women in the World Economy (3) Applications of the principles of economics to the analysis of the economic status of women in the U.S. and elsewhere. The focus is on labor markets, income differentials, the tax system and household work. Special consideration is given to women in developing economies. Prerequisite: ECON 2010. ECON 4010 - Intermediate Microeconomic Theory (3) F The application of economic concepts to individual and firm behavior, consumer behavior, demand analysis, economics of the firm, and price theory. Prerequisite: ECON 2010, ECON 2020 and BSAD 2899 or ECON 2899. ECON 4020 - Intermediate Macroeconomic Theory (3) Sp The building of standard models to test theories of long- run economic performance and short-term fluctuations in closed and open economies. Emphasis is placed on how fiscal and monetary policies encourage long-run growth while mitigating the negative effects of short-term fluctuations. Prerequisite: ECON 2010, ECON 2020, QUAN 2400 or ECON 3030, and BSAD 2899 or ECON 2899. ECON 4170 - Economic Development (3) F The application of economic principles to the challenging problems of third world and developing nations including Africa, Asia, Latin America and the newly independent states of the Former Soviet Union and Eastern Europe. Prerequisite: ECON 2010, ECON 2020. ECON 4320 - Industrial Organization (3) The theory and performance of firms and industries in the context of substantial market power and market regulation. Emphasis on oligopoly, game theory, and theory of markets within the context of global market competition. Prerequisite: QUAN 2400 or ECON 3030, ECON 2010. ECON 4520 - Public Finance (3) This course covers the aspects of economic policy that arise in the operations of a public budget. Topics addressed include economic theories of bureaucracy, public expenditures, and taxation. Prerequisite: ECON 2010, ECON 2020. ECON 4550 - Introduction to Econometrics (3) F Advanced Regression Analysis. Topics include ordinary least squares, generalized least squares, nonlinear regression, dummy variables, autocorrelation, heteroskedasticity, and serial correlation. Computers used extensively. Prerequisite: ECON 2010, ECON 2020, QUAN 2400 or ECON 3030, QUAN 3610. ECON 4560 - Mathematical Economics (3) Sp Advanced application of mathematical modeling techniques to selected economic issues. Prerequisite: ECON 4010, ECON 4020, QUAN 3610, QUAN 2400 or ECON 3030. ECON 4800 - Independent Research (1-3) F, Sp Individual work or work in small groups, by arrangement, in special topics not included in the announced course offerings. Prerequisite: QUAN 3610 and approval of instructor. ECON 4810 - Experimental Courses (1-3) Experimental or one-time courses designed to fill a need in the community or investigate interesting and unusual topics. Prerequisite: ECON 2010, ECON 2020. ECON 4850 - Economics Study Abroad (1-3) This course is designed for students who will study economics at one of the international partner universities of the Goddard School of Business and Economics as part of an extended study abroad visit. Students will explore the international economic institutions, business culture, and applications of Weber State University 2012-2013 Catalog