Introduction to economics and the economy. Monetary and fiscal policies of the Federal government as means of achieving full employment without inflation. Alternate macroeconomic approaches to current issues. (Fall, Spring, Summer)
Continuation of ECON 2301. Theory of product markets and resource markets. Alternate market structures are identified and evaluated, and policy for dealing with them is debated. Market theory used to develop policy for current economic problems. Prerequisite: ECON 2301. (Fall, Spring, Summer)
Economic role of governments. The choice of public sector output in a free market economy. The effects of various taxes on resource allocation, income distribution and economic stabilization. Development finance. Prerequisites: ECON 2301 and ECON 2302 (Spring)
Description of the socio-economic reality of Latin America. The evolution of development strategies from the Maya to the present. Current issues including international trade, structural reform, migration, debt, and the Asian crisis. Policy implications for government and business. Prerequisites: ECON 2301 and ECON 2302 and permission of instructor. (Spring) Cross-listed with BINT 3350.
Introduction to the theory of international trade. Causes, benefits, and costs of trade. The foreign exchange market as a facilitator of trade. The balance of payments as a record of trade. Emphasis on current policy issues confronting the U.S. and its trading partners. Prerequisites: ECON 2301 and ECON 2302. (Fall) Cross-listed with BINT 4310.
The application of statistical and mathematical methods to the analysis of economic data, with a purpose of giving empirical content to economic theories and verifying or refuting them. Hypothesis testing, multiple regression analysis, Ordinary Least Squares Estimation (OLS), lagged variables, logarithms and exponential functions, the specification and selection of models, diagnostic checking and recent developments in estimation techniques Prerequisites: ECON 2301, ECON 2302, BMDS 3370 and permission of instructor. (Spring)