111, 112, 268, 278, 288, three other economics electives, and a senior economics seminar are required for the major. At least two of the economics electives must be at the 300-level or above. In addition, majors are required to complete a calculus course (MATH 170) and a statistics course (MATH 121 or MATH 225 or INBM 220 [for INBM majors only]). INBM 220, Managerial Economics, can be used as a 200-level elective for both the major and minor in Economics. INBM 200, Global Economy, can only be used as a 200-level elective for the minor.
Six economics courses including 111 and 112 and four other economics electives at the 200-level or above. INBM 200 and INBM 220 both count towards the minor.
First Year: Fall: 111, and MATH 170, or MATH 121; Spring: 111 or 112 and MATH 170 or MATH 121 (or MATH 225 or INBM 220 for INBM majors only)
Second Year: Fall: 111 or 112 or 268, 278, or 288, and MATH 170 or MATH 121 (or MATH 225 or INBM 220 for INBM majors only); Spring: 112 and 268, 278 or 288
Third Year: Fall: 268, 278 or 288 and 200 or 300-level economics electives; Spring: 268, 278, or 288 and 200 or 300-level economics electives. Note: There is enough scheduling flexibility for study abroad in the junior year. If you are planning to study abroad make sure you discuss your plans well in advance with your faculty advisor.
Fourth Year: Fall: Senior Seminar and/or 200 or 300-level economics elective; Spring: Senior Seminar and/or 200 or 300-level economics elective.
Each faculty member has special fields of study and will usually be available for advice in that area. No more than two independent study or tutorial study enrollments may be counted toward the major and they must conform to the appropriate level within the major.
Any student with a 3.33 average in the major may undertake a two-course independent research project. Honors in the major will be awarded if the two courses are over and above the nine required courses, if a grade of A or A- is earned on the project, and if the departmental oral examination on the project is successfully completed. For detailed information, go to the department web site.
100 Contemporary Economics
A general introduction to the subject matter and analytical tools of economics as a social science, with particular emphasis on contemporary economic issues such as poverty, inequality, unemployment, inflation, international trade, environmental deterioration, economic growth, competition, and monopoly. Designed for those not intending to major in economics or who want to find out what economics is all about.
This course does not count towards the major or minor in economics. Students who have taken 111 and/or 112 cannot take this course for credit.
111 Introduction to Microeconomics
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon consumer demand and upon the output and pricing decisions of business firms. The implications of actions taken by these decision-makers, operating within various market structures, upon the allocation of resources and the distribution of income are examined. Special attention is given to the sociopolitical environment within which economic decisions are made.
This course fulfills the DIV II social sciences distribution requirement and QR graduation requirement.
112 Introduction to Macroeconomics
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon national output, employment, and price levels. The monetary and financial system is explored together with problems of economic stability. Monetary and fiscal policy procedures are analyzed and evaluated in light of the current economic climate. Special attention is given to the historical development of major economic institutions.
214 A Contemporary Economic Issue
A current economic topic that has important public policy implications is examined. The topic, to vary from time to time, will be announced prior to registration.
Prerequisite: 111 and/or 112 or 100 depending on the topic.
222 Environmental Economics
A study of human production and consumption activities as they affect the natural and human environmental systems and as they are affected by those systems. The economic behavioral patterns associated with the market economy are scrutinized in order to reveal the biases in the decision-making process which may contribute to the deterioration of the resource base and of the quality of life in general. External costs and benefits, technological impacts, limits to economic growth, and issues of income and wealth distribution are examined. A range of potential policy measures, some consistent with our life style and some not, are evaluated.
Prerequisite: 111 or 100. This course is cross-listed as ENST 222.
223 American Capitalism and Social Justice
Designed for those interested in social activism and social justice, this course draws on critical perspectives from Political Economy, American Studies, and Sociology to examine how power is structured in American capitalism across institutions including the social relations of production and distribution, corporations, and markets. Special attention is given to the ways in which powerful economic groups and organizations are able to exert economic control, influence government, and dominate American institutions, such as the media, that shape American culture. Looking beyond capitalism, social movements for greater social and economic justice, and greater economic and political democracy are also examined.
Prerequisite: 100 or 111 recommended but not required.
225 Poor in America
This course explores the cultural and ideological basis of American beliefs about economic inequality and poverty as well as the nature, extent, and causes of poverty. It focuses on labor markets from economics and political economy perspectives, and it covers human capital and education, job availability and skill requirements; race, class, and gender discrimination; and upward and downward mobility. The history of anti-poverty and welfare policy, as well as current policy debates, is also explored.
Prerequisite: 100 or 111 recommended but not required. This course fulfills the DIV II social sciences distribution requirement and US Diversity graduation requirement.
228 Economic Analysis of Policy
This course introduces the basic economic techniques used in the analysis of public policy and applies these techniques to a variety of social problems and policies. The economic techniques taught include the analysis of market failure, benefit-cost analysis, and economic impact analysis. Applied topics vary, but are likely to include education and job training, welfare reform, subsidies for the arts, and housing policy for the poor, among others. Whenever possible, this course will include one or more group research projects related to the Central Pennsylvania region. Past projects have included the economic impact of Dickinson College and an analysis of the economic and social conditions in Carlisle's Hope Station neighborhood.
Prerequisite: 111 or permission of the instructor. This course fulfills the DIV II social sciences distribution requirement and QR graduation requirement. This course is cross-listed as LAWP 228 and PMGT 228.
236 Latin American Economies
The goal of this course is to survey the economic history, environment, and institutions of Latin American countries, as well as the current problems facing Latin America and their possible solutions. Among the topics to be considered are the region's colonial heritage, industrialization strategies, agricultural reforms, debt crises, attempts at regional integration (including NAFTA), and efforts to revise the role of the state.
Prerequisite: 100 or 111/112, or permission of the instructor. This course is cross-listed as LALC 236.
268 Intermediate Macroeconomic Theory
Neoclassical theories of economic behavior in the aggregate. Models will be used as a framework for analyzing the determination of the level of national output and for explaining fluctuations in employment, the price level, interest rates, productivity, and the rate of economic growth. Policy proposals will be appraised.
Prerequisite: 111 and 112; MATH 170; and MATH 121 or MATH 225 or INBM 220 (for INBM majors only).
278 Intermediate Microeconomic Theory
Neoclassical theory of relative prices of commodities and productive services under perfect and imperfect competition. The role of prices in the allocation and distribution of resources and commodities. Economic behavior of individual economic units like consumers, firms, and resource owners.
Prerequisite: 111 and MATH 170.
288 Contending Economic Perspectives
A study of heterodox economic theories including radical, post-Keynesian, institutional, steady state, and neo-Austrian economics. The historical evolution of these different perspectives is traced and the core theory and methods of each is appraised.
Prerequisite: 100 or 111/112.
314 Special Topics
See ECON 214 above. Special advanced topics.
Prerequisite dependent upon topic.
332 Economics of Natural Resources
This course uses microeconomics to analyze the use and conservation of natural resources, including energy, minerals, fisheries, forests, and water resources, among others. Broad themes include the roles of property rights, intergenerational equity, and sustainable development in an economy based on resource exploitation.
344 Public Finance
Theoretical analysis of the interaction of the public and private sectors emphasizing problems of allocation and distribution. Topics include economic rationales for government, public expenditure theory, redistribution of income, collective decision making, and taxation. Neoclassical approaches predominate; however, some alternative approaches will be explored.
Prerequisite: 278 or permission of the instructor.
347 Money and Banking
A study of the role of money and credit in the U.S. economy. The nature of money, the structure of the banking system in the context of a rapidly changing financial institutional environment, and the Federal Reserve System are examined. Various theories of money as guides to monetary policy are compared and contrasted. Neoclassical approaches will predominate, although some alternative approaches will be explored.
Prerequisite: 112 or 100. Recommended: 268.
348 International Economics
An analysis of the determinants of international trade patterns, the causes and consequences of public policies to control trade, the operation of the international monetary system, and its effect on national economies. In addition, rich and poor country relationships, theories of imperialism, and the emerging role of multinational corporations are considered. While the neoclassical approach dominates, alternative paradigms will be explored.
Prerequisite: 268 and 278.
349 Political Economy of the Third World
An analysis of the causes of and proposed solutions to world poverty from an international political economy perspective. Includes a study of the colonial legacy of the Third World, underdevelopment as a regressive process, alternative development strategies, social and political structures, and simple growth and planning models. Neoclassical, structuralists, dependency, and Marxist approaches are explored. Designed for economics majors and other students interested in international studies and Latin American Studies.
Prerequisite: 111 and 112, or 100. This course is cross-listed as LALC 349. Offered every other year.
350 Industrial Organization and Public Policy
A study of the relationships between market structure, conduct, and economic performance in U.S. industry. Emphasis will be on the manufacturing sector and specific industries will be examined. A brief introduction to antitrust and regulation is also covered. Debate within the main stream is examined.
351 The Economics and Politics of Regulation
This course examines the political and economic underpinnings of regulation in the American economy and the economic effects of those regulations. Topics covered include the political economy of regulation, direct regulation of monopoly market, and public policy towards non-monopoly sources of allocative inefficiency.
353 The Economics of Labor
An analysis of labor market issues and policies. Topics covered include discrimination, anti-discrimination policy, the minimum wage, health and safety policy, and other labor market policies and institutions. While the neoclassical approach dominates, other approaches will be explored.
Prerequisite: 278 or permission of the instructor.
371 Topics in Economic History
This course introduces students to a variety of controversial issues in European and United States economic history. Topics include: causes and consequences of the Industrial Revolution, poverty and poor relief in Britain, economics of slavery, the rise of American capitalism, causes and consequences of the Great Depression. Emphasis is on issues in 19th and 20th century British and U.S. economic history. A variety of theoretical perspectives are explored. This course may be taught as a standard or Writing Intensive elective.
Prerequisites: 268, 278 and 288.
376 Alternative Economic Systems
A study of the goals and means of economic systems that are fundamentally different from our own. The systems considered are both theoretical models, such as those of perfectly competitive capitalism and market socialism, and actual cases, such as the Soviet Union, China, Yugoslavia, Japan, and Cuba. Countries studied vary.
Prerequisite: 111 and 112.
473 History of Economic Thought
A critical appraisal of the origins and evolution of significant economic theories. Selected writings are analyzed in detail as representative expressions of major paradigms within the discipline.
Prerequisite: 111 and 112.
Theory and applications of multiple regression analysis. The specification and estimation of econometric models, hypothesis testing, and interpretation of results. Emphasis is on practical applications from macro- and microeconomics using both cross-section and time-series data.
Prerequisite: 268, 278, MATH 121 and 170.
475 Mathematical Economics
Selected topic, to be announced prior to the course request period, in theoretical or applied economics, using mathematical or statistical techniques.
Prerequisite: 268 and/or 278 plus MATH 170 or permission of the instructor.
495, 496 Economics Seminar
A reading, research, and conference course on a selected economics topic. Student seminar choices must be approved by the department.
Prerequisite: 268, 278, and 288 or permission of the instructor.