Economics Courses

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  • ECON 5 / Economic Principles: Microeconomics (4) - view
    An introduction to basic microeconomic analysis and institutions, with special emphasis on the roles markets play in an economy and the ways in which government can alter market activity. Includes such topics as consumer behavior, competition and monopoly, poverty and justice, the environment, health care, and international trade. Offered every semester. Fulfills: BSS
  • ECON 6 / Economic Principles: Macroeconomics (4) - view
    An introduction to basic macroeconomic analysis with special emphasis on problems of unemployment, inflation, and economic growth. Topics include national income determination; money, financial markets, and monetary policy; fiscal policy and the economic role of government; the United States and the world economy. Offered every semester. Fulfills: BSS
  • ECON 29 / Selected Topics in Economics (2-4) - view
    Recent topics have included the economics of food and nutrition, the economics of corporate downsizing, and the economics of financial market integration and comparative central banking. Amount of credit established at time of registration. May be repeated for credit as topic changes. Prerequisite: ECON 5 (and ECON 6 when topic merits it; see course listings each semester). Offering to be determined.
  • ECON 38 / Economics of Labor and Trade Unions (4) - view
    An analysis of labor markets, including determination of wage levels, compensation and working conditions, the impact of international trade and foreign investment, investment in human capital, differential wages, labor migration and unions, strikes and collective bargaining. Examines current issues facing employees and unions. Prerequisite: ECON 5. Offered spring semester.
  • ECON 40 / Economics of the Third World (4) - view
    Seeks to examine the different approaches to economic development (both theoretical and policy); particular development issues (e.g., population, food, industrialization, foreign investment, debt and environmental damage); and actual development experiences in Africa, Asia, the Caribbean, and Latin America to show the interconnections of the Third World to the developed industrial world. Prerequisite: ECON 5 or permission of instructor. Offered fall semester.
  • ECON 41 / Global Economy (4) - view
    An examination of the global economy focusing on economic geography, international trade in primary commodities, manufactures and services, foreign investment and transnational corporations, and the impact of regional economic blocs (such as the North American Free Trade Area) and treaties (such as the General Agreement on Trade and Tariffs). The course covers theory and institutions of international economic activity and current issues of economic globalization. Prerequisite: ECON 5 or permission of instructor. Offered alternate years.
  • ECON 42 / International Business (4) - view
    An introduction to international business and economics for students who are interested in applying their skills as an economist to the business world. Examines the decision-making process confronting businesses operating on an international level. Explores international trade and investment along with economic development as related to business. Also focuses on international agencies (government and private) that affect international business along with the international monetary systems within which business operates. Prerequisite: ECON 5 and 6 or permission of instructor. Offered alternate years.
  • ECON 45 / Environmental Economics (4) - view
    Economic analyses of environmental and ecological issues, focusing on both applied microeconomic analysis and ecological economics. Topics include the "polluter pays" principle, the valuation of natural resources, the role of the market and regulation in dealing with environmental issues, sustainable development, the environmental impact of international trade, and issues of renewable and nonrenewable resources. Prerequisite: ECON 5. Offered alternate years.
  • ECON 47 / Economics of Business and Sustainability (4) - view
    This course considers the environmental challenges facing business. It will examine business responses to environmental regulation, competitive advantages of "green" business, consumer demand for green products, product life cycle analysis, industrial ecology, environmental partnerships between business and non-governmental organizations, natural capitalism, and business education. Environmental decision-making of both large corporations and small businesses will be included in the course. The course will include case studies, outside speakers from the business community and student presentations. Prerequisite: ECON 5. Offered alternate years.
  • ECON 62 / Poverty and Policy (4) - view
    This course discusses the causes and consequences of poverty in an otherwise affluent society. It examines the historical pattern of the inequality of income in the last half century in the U.S., and identifies the groups who remain poor in spite of economic growth. It discusses how to measure poverty and shows how changes in the structure of the economy-technological change and globalization-have affected the demand for the labor in different categories. Economic policy towards poverty and the recent national changes in welfare policy are examined and assessed. Various state welfare to work plans will be compared. Different political and philosophical approaches to the poor implied by different policy approaches will be discussed. Prerequisite: ECON 5. Offered alternate years.
  • ECON 102 / Intermediate Microeconomic Theory (4) - view
    A theoretical analysis of resource allocation in a market economy. Topics include the theory of consumer behavior, production, and costs; decision making under various market conditions; general equilibrium and welfare economics. Student must earn a grade of C or better in this course to satisfy the major requirements. Recommended: MATH 2 or 7 or 8 or 16. Prerequisite: ECON 5 or equivalent. Every semester.
  • ECON 103 / Intermediate Macroeconomic Analysis (4) - view
    A study of the determinants of the level of income, employment, and prices as seen in competing theoretical frameworks. Includes an analysis of inflation and unemployment, their causes, costs, and policy options; the sources of instability in a market economy; debates on policy activism; prospects for the control of aggregate demand. Student must earn a C or better in this course to satisfy the major requirements. Recommended: MATH 2 or 7 or 8 or 16. Prerequisite: ECON 6 or equivalent. Every semester.
  • ECON 104 / Economic Methodology And Introductory Econometrics (4) - view
    This course studies empirical economic research, especially focused on the classical linear regression model and how to proceed with econometric analysis when some assumptions of the classical model do not hold. It examines sampling, statistical theory and hypothesis testing. This course also examines criticisms of and alternatives to common econometric methodologies. Students are expected to take this course in their second or third year. Prerequisite: ECON 5, 6, and MATH 3 or 129. Spring Semester.
  • ECON 111 / Public Finance Economics (4) - view
    A consideration of the role of the public sector in the U.S. economy. Topics include the use of public expenditure analysis to assess specific federal programs; the theories of market failure and public goods; analysis of externalities; public choice economics; the incidence of major types of taxes; prospects for tax reform; and problems of deficit finance. Prerequisite: ECON 102 or equivalent. Offered annually.
  • ECON 112 / History of Economic Thought (4) - view
    A consideration of the philosophical basis, historical context, and development of economic thinking. Focuses on pre-20th-century economists-the Mercantilists, the Physiocrats, Adam Smith, David Ricardo, Karl Marx, and early neoclassical economists. Some attention given to later economists and schools of thought as continuations and modifications of earlier ideas in economics. Prerequisite: Sophomore or higher standing and one course in economics. Offered alternate years.
  • ECON 117 / Contemporary Political Economy (4) - view
    A consideration of the varying interpretations by present-day economists of the current state of the U.S. economy and of the challenges it faces in the 21st century. Topics include the historical origins and major ideas of such contemporary schools of economic thought as neo-conservatism, post-Keynesian liberalism, and ecological/humanistic economics. Open only to students with sophomore or higher standing Prerequisite: ECON 5 and 6. Offered annually.
  • ECON 118 / Industrial Organization and Public Policy Toward Business (4) - view
    An analysis of the present structure of industry in the United States, the theory of monopoly, oligopoly, and imperfect competition, and antitrust policy, i.e., government policies to preserve competition. Focuses on recent antitrust cases in the latter half of the course. Prerequisite: ECON 5, 6, and 102. Offered alternate years.
  • ECON 119 / Money and Banking (4) - view
    An introduction to the theory of money and banking. Special consideration is given to the structure and functioning of the commercial banking system and the effectiveness of monetary policy. Prerequisite: ECON 103 or equivalent. Offered annually.
  • ECON 120 / Corporate Finance (4) - view
    A study of selected problems and issues in the field of finance. Topics include the use of financial statements, ratio analysis and the valuation of assets, especially derivatives (e.g., futures and options). Prerequisite: ECON 102. Offered annually. Same as: BUS 120.
  • ECON 124 / International Trade (4) - view
    A study of international trade theory, including the classical works (Richardian, Hecksher-Ohlin, specific factors model, factor-price equalization, and growth models) along with a consideration of trade restrictions, i.e., tariffs and quotas. Explores contemporary patterns of trade encompassing such issues as increasing returns, imperfect competition, technology transfer, market structures, industrial policies, and international factor movements. Analyzes these issues from the perspective of a large versus a small economy and from a developed versus a developing economy. Prerequisite: ECON 102 and 103. Offered alternate years.
  • ECON 125 / International Finance (4) - view
    An exploration of the various theories of international finance. Includes a practical introduction to foreign exchange markets (forward markets, options, and futures)-how they work, how they are used, and how to understand published information about these markets. Explores the relationship between domestic money markets and international money markets in a theoretical context. Discusses the purchasing power parity relationship and the evolution of the contemporary international monetary system. Prerequisite: ECON 124. Offered alternate years.
  • ECON 129 / Selected Topics in Economics (4) - view
    Topics determined by department. Recent topics have included economics of racism, government regulation of industry, the microeconomics of macroeconomics, and workplace democracy. May be repeated for credit as topic changes. Prerequisite: ECON 25 and 26. Offering to be determined.
  • ECON 130 / Topics in Economics and the Environment (4) - view
    A consideration of specific topics pertaining to the relationship of economic activities and the natural environment. Generally, one major topic will be considered each time the course is offered. Possible topics include: sustainable development; global warming and peak oil; carbon trading, taxation and subsidies as environmental policies; and consumption, well-being, the economy and the environment. May be repeated for credit with different topics. Prerequisite: ECON 5 and one additional Economics course or one Environmental Studies course, or permission of the instructor. Fall 2008 and ,thereafter, annually. Same as: ESS 191.
  • ECON 134 / American Economic Development (4) - view
    A survey of the economic history of the United States from its establishment as a collection of British colonies in the 17th and 18th centuries to its emergence as the world's leading industrial nation in the mid-20th century. Explores the nature, causes, and consequences of America's economic growth and development and the social and political transformations that accompanied its rise to world industrial supremacy. Through the study of American economic development, students acquire a historical perspective on contemporary economic theory, issues, policies, and debates. Prerequisite: ECON 102 and 103. Offered annually.
  • ECON 136 / Political Economy of Race, Class, and Gender (4) - view
    A study of race, class, and gender using the political economic approach to the study of economics. The course will investigate the impact of introducing the categories of race, class, and gender into political economic theory and will also undertake some empirical analyses of the roles of race, class, and gender in producing economic outcomes for minorities and majorities in the U.S. Signature of instructor required for registration. Prerequisite: Sophomore or higher standing and one course in Economics. Offered alternate years.
  • ECON 137 / Seminar in Labor Economics (4) - view
    This course studies contemporary issues in labor markets. Students read, analyze and discuss journal articles about selected topics in labor economics. Topics, which will vary depending on current economic conditions, may include: unemployment, discrimination, welfare programs, minimum wage, Social Security, poverty. Prerequisite: ECON 102 and ECON 104. Offered in Spring 2008 and thereafter in the fall semester in odd-numbered years.
  • ECON 145 / Sustainable Development (4) - view
    Sustainable development is economic development within the constraints of environmental sustainability, i.e., the preservation of natural capital. This involves increasing the standard of living and developing economic infrastructure in environmentally benign ways. This course examines issues of sustainable development, including agriculture, population, urbanization, industrialization, natural resource use and conservation, appropriate technology, village economics in Africa, Asia and Latin America. Some comparisons will be made with sustainability efforts in advanced industrial economies. Prerequisite: ECON 40 or 45 or permission of instructor. Offered alternate years.

Off-Campus Programs

  • ECON 63 / The Economics of European Integration (4) - view
    This course offers a study of the institutions, cases, processes, and competing theories of European economic integration in the era of the European Union. Special attention is focused on Europe's product, labor, and capital markets, as well as EU policies related to these areas and the "social market" economies of selected EU member states. Prerequisite: ECON 5. Offered fall semester.
  • ECON 185 / European Research Seminar (4) - view
    Each student designs and conducts an independent research project on a topic selected in consultation with the Resident Director of the European Semester and approved by the appropriate departmental liaison. The project will stress library research, as well as personal interviews, and may include trips to appropriate EU member states. (Students may also register as an independent study in any approved major)
  • EURST 100 / Colloquium Research Seminar on European Society (4) - view
    Taught by the resident director, a Drew faculty member, this course introduces students to some of the cultural, social, and political institutions that define contemporary Europe through speakers and trips to museums, historic sites, the headquarters of the European Union, and NATO. As a research seminar, this course provides a forum in which students examine one aspect of contemporary Europe in depth. The results of students' research are presented in a final paper at the end of the semester. Offered fall semester.

Off-Campus Programs

  • ECON 49 / Wall Street and the Economy (4) - view
    The operations and institutions of financial markets; their role in financing new investments, pensions, etc. ; their impact on local, national, and global economies. The economic history and ethical dimensions of Wall Street and its relation to macroeconomic policy. Signature of instructor required for registration. Prerequisite: ECON 5 and 6 and acceptance into the Wall Street Semester. Offered spring semester.
  • ECON 50 / Colloquium on Wall Street: Practical Realities and Recent Issues (4) - view
    The practical day-to-day operations of the financial markets and institutions located in New York City. Talks by guest speakers drawn from the finance industry itself, as well as from corporations, government regulatory agencies, and institutional investors, shareholder activists, academics and others. Field trips to New York City to stock brokerages, the New York Stock Exchange, the Securities and Exchange Commission, and various commodity exchanges. Speakers, field trips, and student projects explore recent issues, such as the impact of derivatives and other financial innovations. Students are required to keep a journal and make oral presentations about their experiences on Wall Street, including their meetings with prominent speakers from a wide variety of private and nonprofit institutions. Signature of instructor required for registration. Prerequisite: ECON 5 and 6 and acceptance into the Wall Street Semester.