ECO - Economics

ECO 105 Principles of Economics: Macroeconomics

Course Description: Basic concepts of national income determination, money and banking, business cycles and economic fluctuations, monetary and fiscal policy, economic growth, and current microeconomic issues.

Course Rotation: Fall, Spring, and Summer.

3 credits

ECO 106 Principles of Economics: Microeconomics

Course Description: Theory of demand, production and costs, allocation of resources, product and factor pricing, income distribution, market failure, international economics, and comparative economic systems.

Course Rotation: Fall, Spring, and Summer.

3 credits

ECO 106A Principles of Economics: Microeconomics - Learning Community

New Core: Fulfills 3 credits in Area of Knowledge III. Course Description: This course examines how our consumption impacts the commonly-held core values of our society. We will focus on issues of sex and sexuality and look at them through lens of women's and gender theory and basic principles of economics. The course will focus on changes in supply and demand, income distribution, consumer behavior and other economic factors and address how our consumption impacts what we believe about sexuality, pornography, gender, our bodies, and our health.

3 credits

Corequisites

WS 266A

ECO 196 Topics in Economics

Course Description: The current economic issues that are facing the nation such as social security, health care, the environment and deficits will be examined in detail in a format suitable for non-majors. The specific issues may change year by year so as to stay current. (No prerequisites)

3 credits

ECO 196A Topic: Contemporary Economic Issues

Course Description: This course will provide the student with an introduction to some of our most pressing Economic, Social, and Political Issues: Poverty: Discrimination; Social Security Reform; income Distribution; Energy Policy; Free Trade; Federal Budget Deficits; Environmental Regulations: etc.

3 credits

ECO 196B Topic: Consumer Economics

Course Description: "Consumer Economics" studies how the individual consumer creates an action plan to deal with the economic complexity of everyday living. It discusses and creates goals for the consumer in our society and then creates the means to achieve them.

3 credits

ECO 210 The Economics of Social Issues

Course Description:The course surveys some of the most important socio-economic issues facing the world today. Through the application of economic theory several of the most current economic issues are explored. A partial list of topics includes "Federal Deficits and the National Debt, The Economics of Poverty, The Distribution of Income and Wealth, The Economics of Education, Social Security, The Economics of Health Care, Energy Proves, Immigration, the Housing Bubble, the Costs of War, Is Wal-Mart Good for the Economy? The basic premise here is to intertwine contemporary economic issues with theory by showing how theory can be applied to current real-world public policy decisions. In shirt how these economic issues are resolved shapes the types of jobs, wages, educational opportunities, etc. that are available in our society today as well as in the future.

3 credits

ECO 211 Sports Economics

Course Description:The course utilizes examples from sports to apply microeconomic concepts of supply and demand, elasticities, surplus analyses, and market structures. Case studies and actual examples will be used to analyze players’ salaries, team’s management decisions, league structure, media rights and stadium and arena infrastructure projects.
Course Rotation:Spring;NY

3 credits

Prerequisites

ECO 106 Minimum Grade of D

ECO 222 Economic History of the U.S.

This course satisfies 3 credits toward the Economics or History major.

Course Description: This course offers a survey of the transformation of the United States from an agrarian society through a completely industrialized economy to the post-industrial world. Principal topics include the key factors that caused the U.S. to become a world dominating economic power including developments in agriculture, transportation, finance, technological change, human capital and the role of government policy. It will also discuss the future role of the U.S. in the new globalized world economy and explore the question of what nations will be the next rising stars. The economic history covered will be directly related to the national and world economic conditions that are of such current concern (e.g., recession, education, financial crisis, role of government, etc.). This course stresses the interaction of ethics, economics and philosophy and introduces students to the great economic thinkers in history and their views of ethics in economics. Critical questions to be addressed are: How did the US develop from colony to super power? What were the economic and political forces that lead to the rise of the U.S.? In all of this, great leaders emerged in the economic, business and political arenas (e.g., Alexander Hamilton, FDR, Andrew Carnegie and J.D. Rockefeller). How did ethics, law and economics interplay in their leadership styles and decisions and effect U.S. economic history?

Course Rotation: PLV:Fall

3 credits

ECO 230 Intermediate Macroeconomics

Course Description: An examination of macroeconomic theory and its applications. Analysis of the determination of gross domestic product and the problems and policies relating to income, consumption, saving, investment, economic stability and growth, monetary fiscal policy, and international trade.

Course Rotation: NYC: Fall and Spring. PLV: Spring - Odd years.

3 credits

Prerequisites

Pre-requisite for ECO 230 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. )

ECO 234 Intermediate Microeconomics

Prerequisite: ECO 105 or ECO 106 and MAT 117 or equivalent.

Course Description: This course focuses on the foundational techniques of microeconomic analysis, especially as used in the areas of demand, production, and cost theory. Price determination in major market structures is also analyzed. Economics majors and minors should take this course as early as possible.

Course Rotation: NYC: Spring. PLV: Fall - Even years.

3 credits

Prerequisites

Pre-requisite for ECO 234 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. May be taken concurrently.)

ECO 238 Money and Banking

Students must fulfill the prerequisites or their equivalent.

Course Description: A detailed examination of the factors that determine the money supply, the impact such changes have on the economy and the fundamental principles of financial markets and institutions which to a great extent implement these changes. Topics covered include the Federal Reserve System, alternative theories of money demand, the IS-LM model and basic principles of bank management.

Course Rotation: Fall, Spring, and Summer.

3 credits

Prerequisites

Pre-requisite for ECO 238/240 ( Course : ECO 105 . Minimum Grade of D. ) or (Course : ECO 106 . Minimum Grade of D. ) and (Course : MAT 117 . Minimum Grade of D. )

ECO 240 Quantitative Analysis and Forecasting

Prerequisite: ECO 105 or 106 and MAT 117, or equivalent.

Course Description: This course develops several quantitative forecasting techniques emphasizing their practical uses in various business and social science applications. Principal topics include simple and multiple regression, correlation analysis, exponential smoothing, and ARIMA methods. Several computer programs are used and students are assisted in formulating research projects of their own design.

Course Rotation: Fall, Spring, Summer.

3 credits

Prerequisites

Pre-requisite for ECO 238/240 ( Course : ECO 105 . Minimum Grade of D. ) or (Course : ECO 106 . Minimum Grade of D. ) and (Course : MAT 117 . Minimum Grade of D. )

ECO 260 The Economics of Human Resources

Course Description:This course develops the treatment of human resources as determinants and consequences of labor market outcomes. The course will consist of two parts: the first studies the importance of the economic mechanism or economic models that drives such outcomes. Important determinants are discussed with special references to human capital (education and training), job mobility, internal labor markets within organizations, unemployment. We are interested in analyzing questions such as: how are wages and fringe benefits determined? What is human capital? Do immigrants take jobs from natives? Does education affect your health? Will children of poor parents themselves be poor? In the second part of the course we will apply the theoretical concepts to empirical applications. This will give you a real-world flavor and help you understand the theoretical and their limitations.

Course Rotation: Summer

3 credits

ECO 266 Economics of Gender, Race and Class

Course Description: This course focuses on gender, race, and class based differences in income, wealth, and employment status. Current data and historical trends in the U.S. are discussed and analyzed, and human capital theory and various theories of discrimination are presented as potential explanations. The economics of the family is explored, with emphasis on differences in gender roles and women's changing relationship to the labor force. Students will also become acquainted with different ways of defining and measuring class differences, the reproduction of inequality, and the experience of the working poor.

3 credits

ECO 266Q Economics of Gender, Race and Class - Learning Community

Course Description: This Learning Community examines current and historical differences in pay and employment experience between women and men, and between whites and ethnic and racial minorities. It explores the interdependencies of gender, race, and class in world history, literature, and cultural theory in post-colonial culture. Explanations of the differentials and trends are surveyed; in particular, a variety of economic and cultural theories of discrimination are explored. Students examine definitions of class, data on class differences, and how gender, race, and class roles are constructed, negotiated, and reproduced.

3 credits

Corequisites

WS 266Q

ECO 270 Internet Economics

Course Description: This course focuses on the economics underlying the Internet age. It examines the effects and impacts of technologies on the structure of firms and industries, financial markets, employment, production, and the distribution of goods and services in the global economy. This course in purely online. Students are expected to always keep the schedule in mind and participate in the course discussion forums for each module. Participation in discussion forums is mandatory.

Course Rotation: WWW: Spring

3 credits

Prerequisites

Pre-requisite for ECO 270 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. )

ECO 271 Economics Geography

Course Description: This course is an introduction to location theory. It examines why industries (agricultural, manufacturing and services) are located in certain regions and/or countries, and whether these locations are determined by the quality and quantity of economic resources. It also assesses the contribution of these industrial locations to the disparity in the economic development of nations, as well as to the globalization of economic activities.

3 credits

ECO 296 Topics in Economics

Course Description: The course surveys some of the most important issues facing the world today by the application of economic theory. A partial list of topics includes: Federal Deficits and the National Debt, The Economics of Poverty, The Distribution of Income and Wealth, The Economics of Education, Social Security, The Economics of Health Care, Energy Prices, Immigration, the Housing Bubble, the Costs of War, Is Wal-Mart Good for the Economy? The basic premise here is to intertwine issues with theory by showing how theory can be applied to current real-world public policy decisions. In short how these issues are resolved shapes the types of jobs, wages, educational opportunities, etc. that are available in our society today as well as in the future.

Course Rotation: TBA.

3 credits

ECO 296A Topics in Economics: Advanced Topics in Forecasting

Prerequisite: Permission of the Instructor.

3 credits

Prerequisites

ECO 240 Min Grade D

ECO 296F Topic: Globalization, Trade and The Environment

Course Description: The world wide trend towards globalization has perhaps been the most controversial phenomenon since the end of the cold war. This course will try to analyze the winners and losers of this intensification, assessing its economic, social, political and environmental impacts.

3 credits

ECO 296G Topic: Economic Geography

Course Description: This course is an introduction to location theory. It examines why industries (agricultural, manufacturing and services) are located in certain regions and/or countries, and whether these locations are determined by the quality and quantity of economic resources. It also assesses the contribution of these industrial locations to the disparity in the economic development of nations, as well as to the globalization of economic activities.

3 credits

ECO 296H Topic: Internet Economics

Prerequisite: ECO 105 and ECO 106 or permission of the instructor.

Course Description: This course focuses on the economics underlying the Internet age. It examines the effects and impacts of technologies on the structure of firms and industries, financial markets, employment, production, and the distribution of goods and services in the global economy.

3 credits

Prerequisites

ECO 105 Min Grade D and ECO 106 Min Grade D

ECO 296J Topic: Sports and Entertainment Economics

Prerequisite: ECO 105 and ECO 106 or permission of the instructor.

Course Description: This course covers economic analyses, management issue, and decision making in the sports and entertainment industries. Topics include: production and distribution in the film industry; industry structure and costs in the music business; cable television services; operation and valuation of amusement parks; employment in professional sports; sports franchises as profit-making firms; and the public finance of sports stadiums. The course is geared towards students who have some interest in future consulting or employment in sports or entertainment industries.

3 credits

Prerequisites

ECO 105 Min Grade D and ECO 106 Min Grade D

ECO 296K Topic: Mathematical Economics II

Prerequisite: ECO 380 or permission of instructor.

Course Description: The course explores applications of mathematics in solving economic problems and introduces students to recent literature.

3 credits

Prerequisites

ECO 380 Min Grade D

ECO 296L Topic: The Economics of Human Resources

Course Description: This course revolves around the use of human resources as determinants and consequences of labor market outcomes. The course will consist of two parts: the first studies the importance of the economic mechanism or economic models that drives such outcomes. Important determinants are discussed with special references to human capital (education and training), job mobility, internal labor markets within organizations, unemployment. We are interested in analyzing questions such as: how are wages and fringe benefits determined? What is human capital? Do immigrants take jobs from natives? Does education affect your health? Will children of poor parents themselves be poor? In the second part of the course we will apply the theoretical concepts to empirical applications. This will give you a real-world flavor and help you understand the theoretical implications and their limitations.

3 credits

ECO 296M The Economics of Social Issues

Course Description: The course surveys some of the most important social issues facing the economy today. Some of the topics addressed include the following: the Economics of Social Security, Medicare and Medicaid, Energy and the Oil Crisis, Immigration and Its Impact on the Economy, The Housing Bubble, The Economic Costs of War , Is Wal-mart Good for the Economy?, Minimum Wages and Living Wages, and Why College Textbooks Cost So Much. The basic premise here is to intertwine social issues with economic theory and show exactly how theory can be applied to current real-world public choices that eventually lead to policy decisions. In short how these issues are resolved shapes the economic environment we live which in turn influences the types of jobs, wages, educational opportunities, etc. that are available in our society today as well as in the future

3 credits

ECO 296N Topic: Who Shall Live? Reforming the American Health Care System

Course Description: This course will examine the United States "health care crisis" and how we might deal with improving the health care system. Topics to be covered will include: the demand and provision for health care; analysis of physician, hospital, nursing home and outpatient care; coverage under health insurance; who gains and who loses in the present system; medical technology and the pharmaceutical industry; the regulation of health care; making health care affordable and available for all. Most importantly we will discuss the recent proposals for health care reform offered by the candidates for the United States President.

3 credits

ECO 296P Topic in Economics: The Rise and Fall of Civilizations

Course Description: What causes major world empires and their civilizations to rise and fall? Taking an interdisciplinary approach, developments in culture, economics, politics, technology, religion, and the environment are studied in relation to the rise and fall of great powers. The empires of Persia, Rome, China, the Mongols, the Ottomans, Britain, and Russia are examined. Development of the world economy is shown to be linked to the changes in world dominance of the various civilizations. The role of the US as superpower in the 20th century and its future in the 21st century are analyzed using lessons learned from the examination of past rises and falls of empires. This course features guest lecturers from varied disciplines and use of electronic media such as the PBS series on Dynasties (The Greeks, Rome, Egypt, the Medici, and Japan).

3 credits

ECO 296Q Topic: Quantitative Forecasting for Non Profits

Prerequisite: MAT 117 or equivalent.

Course Description: Using quantitative techniques, this course is designed to show students how to forecast certain variables of interest for non-profit corporations. Students will initially develop an understanding of the mathematics of forecasting. There are several different techniques of analysis that students will be exposed and the merits/demerits of each discussed in detail. They also will receive instruction in the application of a statistical/forecasting program as it relates to non-profits. MINITAB is an established program with a user friendly interface and students will be given detailed instructions in its application to forecasting type problems. Finally, and most importantly, they will be able to apply this knowledge to a unique data set, supplied by a non-profit here in Westchester. Students will be given the opportunity to present their research results to the non-profit and discuss its inferences and significance in terms of the organization.

3 credits

Prerequisites

MAT 117 Min Grade C-

ECO 296R Topic: Economic of Crime, War and Terrorism

Course Description: This course analyzes the economic theories of crime, war and terrorism. Issues covered include the effects of crime on the economy, economic factors contributing to crime, the economic factors leading to wars and a benefit-cost analysis of different approaches to these issues. Techniques utilized include applied microeconomics, game theory and statistical analysis.

3 credits

ECO 296S Topic: The Economic Crisis

Course Description: Utilizing the news of the day as well as macroeconomic and business-cycle theory, this course will study the global economic crisis that erupted starting in 2007. Attention will be paid to the causes of the crisis, to how economic shocks developed into a crisis, and to policy responses and proposed solutions of the crisis. We will consider both immediate causes of the crisis, rooted in problems in housing and financial markets, and underlying conditions, such as debt and profitability problems, that caused shocks to develop into full-scale crisis. The quasi-nationalization of much of the financial sector will be studied, as will the TARP and PPIP programs, emergency Federal Reserve actions, and the Administration’s stimulus package.

3 credits

ECO 296T Environmental Impacts of Trade Globalization

Course Description: This course examines the interconnections between globalization, international trade, and changes in our environment. In it we look at the feedback between historical increases in international trade and the environment since the late 15th century, the modern acceleration of globalization and resulting negative environmental changes, as well as challenges and impediments to minimizing our environmental footprint. We will also examine modifications to current practices which could have a positive impact on the environment.

Course Rotation: NY: Spring.

3 credits

ECO 296U Topic: Green Economics: Road to Rio

Course Description: Road to Rio is a course that is designed to introduce the student to the various aspects of what the United Nations means by "Green Economy" and what are the measures that must be implemented if it is to be achieved.

3 credits

ECO 296V Topic: Economics of Poverty and Income Distribution

Course Description: This course will focus on the twin issues of poverty and income distribution from an Economics perspective. The topic is timely since, as current conditions indicate, the poverty population is rapidly rising and the distribution of income is becoming highly unequal. Issues of wealth distribution are also addressed since not only do the poor receive less income (i.e. earnings) but also have accumulated less wealth (i.e. net worth). We not only explore poverty, income, and wealth distribution on a national scale, but take a close look at these concepts from a global or international perspective.

The basic premise of the course is to link economic theories of poverty with a commitment on the part of the student to engage in some medium of Community-based work within the poverty population. This hands-on community involvement allows the student to pursue poverty issues in an environment outside the traditional classroom. The course material will help the student understand the economic causes of poverty on a first-hand basis. The community component is crucial in illustrating exactly how economic theory can be applied to current real-world public policy issues as they relate to the poverty population. In short, how these economic issues are resolved today help shape future opportunities available to large numbers of individuals in society.

3 credits

Prerequisites

ECO 105 Min Grade C or ECO 106 Min Grade C

ECO 296W Topics: Sustainable Development

Course Description:This course will introduce the student to the various seminal concepts in the field of Sustainable Development. The course will examine the political, social and economic dimensions of SD as applied both to the industrial as well as the developing countries. The student will also be introduced to the latest development in the metrics that are used in order to guide the efforts of the countries in question.
Course Rotation:Fall; WWW

3 credits

ECO 296HF Women, the Household, and the Labor Force in a Global Context: Learning Community

Course Description: This learning community covers the subjects of women's economic inequality, women's economic contribution and how globalization impacts women around the globe. The class first focuses on traditional women's roles within the family, the age of women entering into the workforce, and areas where women are leaders. Other topics are the working conditions and wages women are paid compared to men, and possible means to improve the status of women in the economy. Examples come from the United States, as well as countries around the globe.

3 credits

Corequisites

WS 266F

ECO 305 Global Finance, Investments and Economic Activity

Prerequisite: ECO 105 and 106.

Course Description: This course focuses on the analysis of balance of payments, foreign exchange rates (fixed and flexible), risks in the global environment and their effects on global investments and economic and financial activity.

Course Rotation: NY: Spring.

3 credits

Prerequisites

Pre-requisite for ECO 305 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. )

ECO 310 Environmental Economics

Course Description: This course will familiarize students with many fundamental concepts, ideals and tools needed to understand environmental economics. Topics of discussion and assessment will include: conceptualizations of environmental degradation, ethical standards, economic principles, intercommunications between social behaviors, and environmental policy for the public and private sectors in developed and developing countries, as well as the economic implications of alternative environmental policies.

Course Rotation:

3 credits

Prerequisites

Pre-requisite for ECO 310 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. )

ECO 320 History of Economic Thought

Prerequisite: ECO 105 or 106.

Course Description: An examination of the development of economic theory from its roots in the 18th and 19th centuries to modern thought. Emphasis on assumptions, preconceptions and generalizations made by theorists such as Smith, Ricardo, Marx, Marshall, Keynes, and others, methodology employed by the various schools of thought, and the relationship of economic doctrines to prevailing political and social climates.

Course Rotation: NYC: Spring - Even years.

3 credits

Prerequisites

ECO 105 Min Grade D and ECO 106 Min Grade D

ECO 321 The Rise and Fall of World Empires

Prerequisite: Sophomore standing required. New Core: Fulfills 3 credits in Area of Knowledge III. This is a writing-enhanced course.

Course Description: What causes empires to rise and fall? This course will cover the rise and fall of major empires and the impact on civilizations over the last 7000 years. Taking an interdisciplinary approach, it will look at the developments in culture, economics, politics, technology, religion and the environment as they have been related to the rise and fall of great powers. The course will examine the empires of Persia, Rome, China, Mongols, Ottoman, Spain, Britain, and Russia. It will also link the growth and development of the world economy to the changes in world dominance of the various empires and civilizations over time. Toward the latter part of the course, the students will examine the United States' future role in the world. Is the US now in the declining stage of its empire? It will examine the US's role as superpower in the 20th century and analyze the future of the US from the lessons learned from the examination of past rises and falls of empires. The course will also include the use of the PBS series on Dynasties (Persia, Greece, Rome, Britain, Germany and Japan) and the BBC TV series (the Mongols and the Mughals). In addition, the course will be writing enhanced with such writing assignments as multiple revisions of a final paper, three shorter essays, and précis writing every other week.

3 credits

ECO 322 Economic History of the United States

Prequisite: ECO 105 or 106. New Core: Fulfills 3 credits in Area of Knowledge II.

Course Description: This course offers a survey of the transformation of the United States from an agrarian society through a completely industrialized economy to the post-industrial world. Principal topics include the key factors that caused the U.S. to become a world dominating economic power including developments in agriculture, transportation, finance, technological change, human capital and the role of government policy. It will also discuss the future role of the U.S. in the new globalized world economy and explore the question of what nations will be the next rising stars. The economic history covered will be directly related to the national and world economic conditions that are of such current concern (e.g., recession, education, financial crisis, role of government, etc.).

Course Rotation:NYC Spring: Odd years.

3 credits

Prerequisites

ECO 105 Min Grade D or ECO 106 Min Grade D

ECO 323 Economics of Industrial Organization

Course Description: A systematic approach to the structure, conduct and performance of firms and industries in theory and practice. Examines imperfect competition, market concentration, power measures, business practices in restricted markets, anti-trust legislation, and judicial determinations.

Course Rotation: NY: Spring - Odd years.

3 credits

Prerequisites

ECO 106 Minimum Grade of D

ECO 324 Marxian Economic Thought

Formerly ECO 224.

3 credits

Prerequisites

ECO 101 Min Grade D or ECO 105 Min Grade D or ECO 106 Min Grade D

ECO 325 Money and Capital Markets

Course Description: Examination of the markets and institutions engaged in the savings-investment and exchange processes; includes descriptions of the principal money and capital market institutions such as commercial banks, finance and insurance companies, money brokers, pension funds, and commercial factors.

Course Rotation: NYC: Fall. PLV: Fall - Odd years.

3 credits

Prerequisites

Pre-requisite for ECO 230 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. )

ECO 327 Economics of Financial Institutions

Prerequisite: ECO 105 or 106 and working knowledge of Algebra and Statistics.

Course Description: A microeconomic study of the allocation of funds process undertaken by financial institutions in the U.S. Topics include the nature and functions of financial institutions, structure of financial markets, funds flow analysis, portfolio choice methods, pricing, and aspects of public control.

Course Rotation: NYC: Spring - Odd years.

3 credits

Prerequisites

Pre-requisite for ECO 327 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. )

ECO 352 Current Economic Issues

3 credits

Prerequisites

ECO 105 Minimum Grade of D or ECO 106 Minimum Grade of D

ECO 354 Urban Economics

Prerequisite: ECO 105 or ECO 106.

The course analyzes the location and distribution of economic activity, industries and businesses, land uses, and the spatial variation of the population in cities and surrounding regions. Applications to real estate values, the environment and transportation.

Course Rotation:NYC: Spring - Odd years.

3 credits

Prerequisites

Pre-requisite for ECO 354 ( Course : ECO 106 . Minimum Grade of D. )

ECO 356 Immigration and Discrimination: Men and Women in the Labor Force

Course Description: The survey of labor as a major resource of the economy and the principles relating to its utilization, allocation, and compensation; the role of unions, collective bargaining and arbitration. The public policy stance on issues such as gender and racial discrimination, minimum wages, job training programs, hazards on the job, and income inequality are also covered.

Course Rotation: NYC: Fall - Odd years. PLV: Spring - Even years.

3 credits

Prerequisites

ECO 105 Minimum Grade of D or ECO 106 Minimum Grade of D

ECO 357 Managerial Economics

Course Description: The role and functioning of business firms in the economy, and the application of economic theory in the solution of managerial decisions. Pricing, investment, inventory, dividends, the allocation of factors of production, financial policy, and internal controls are studied. Practical business cases are used along with more theoretical material materials, and the implications for public policy are also considered.

Course Rotation: NYC Fall.

3 credits

Prerequisites

ECO 105 Minimum Grade of D or ECO 106 Minimum Grade of D

ECO 359 Political Economy of Developing Nations

Course Description: The course offers a historical and contemporary analysis of emerging nations and their relationships with the developed world. The origins and dynamics of underdevelopment are studied in light of existing economic theories. The consequences of entry into the world market system of isolated societies is also examined. Within this contemporary framework, the course considers many of traditional themes of development economics: poverty, inequality, and growth; natural resources and the environment; agriculture and rural organization; unemployment; human capital and technological innovation. The course emphasizes policy choices for sustained growth in each problem area.

NYC: Spring: Even years.

3 credits

Prerequisites

ECO 105 Minimum Grade of D or ECO 106 Minimum Grade of D

ECO 360 International Economics

Course Description: The course covers why and how countries trade with each other. Topics include comparative advantage, tariff's quotas and other trade restrictions, NAFTA, the European Union, and the relation between trade and economic growth.

Course Rotation: NYC: Fall, Spring, and Summer. PLV: Fall.

3 credits

Prerequisites

Pre-requisite for ECO 360 ( Course : ECO 105 . Minimum Grade of D. ) and (Course : ECO 106 . Minimum Grade of D. )

ECO 361 Economics of the European Union

Course Description:
This course introduces the variety of economic and political factors that shaped the European community. It discusses the issues of sovereignty, the historical relationships of European countries, the economics of free trade and competition, barriers to trade, labor and capital mobility, fiscal problems, and monetary integration. The course also focuses on the debt crisis and the future of the Euro as a common currency for the Euro zone-participating.
Course Rotation:Spring;NYC

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D

ECO 362 Economic Growth and Development

Course Description: The factors and conditions that influence economic growth and development, with particular emphasis on the less developed areas of the world, development planning, foreign economic aid, and the development of different economic systems.

Course Rotation: NYC: Spring - Odd years. PLV: Spring - Even years.

3 credits

Prerequisites

ECO 106 Min Grade D

ECO 364 Comparative Economic Systems

New Core: Fulfills 3 credits in Area of Knowledge III.

Course Description: This course examines how various economic systems explore solutions to different macro and micro economic problems. Various economic systems are examined, in both theory and practice, regarding the alternative solutions to common problems such as production, growth, distribution, savings and consumption, and privatization of former socialistic economies.

Course Rotation: NYC: Fall - Odd years.

3 credits

Prerequisites

ECO 105 Min Grade D and ECO 106 Min Grade D

ECO 370 Economics of Public Finance

Prerequisite: ECO 105 and 106.

Course Description: Examination of revenue raising and expenditures, patterns of government and impact of such public activities on the allocation of resources and distribution. Topics include analysis of theories of taxation, tax criteria, alternatives to taxation, and efficiency of government expenditures.

Course Rotation: NYC: Spring - Even years. PLV: Fall - Even years.

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D

ECO 373 China and the U.S. Economic and Political Relations: Past, Present and Future

Catalog Description: The economies of the U.S. and China have recently been defined as a "Superfusion," that is the interconnection of the two leading national economies and economic systems in the world economy. In the last 20 years, this has been the result of the recent seismic shift in the global economy and political relations between the two nations. Business activities and competitiveness have been at the heart of this transformation and fusion of the two. This course will focus its attention on how this Superfusion has come about at this point in history. The course will trace the relationship of the development of the U.S. and Chinese economies from 1850 to the present. It will analyze the forces that led to the first opening up of trade between the two nations and the initial business relationships formed. It will also connect the political relationships of China and the U.S. with these developments. The course will track the highs and lows of U.S. and Chinese economic and business relations through the late 19th and the 20th Centuries up until the present day. This exploration will include the role of capitalism and socialism in the world as they both developed and the forces that created the changes in both economic systems. Two contrasting models of economic development will be explored: the U.S.'s more business centered market economy (Corporate Capitalism) and the Chinese government's guided planned market system (Government Driven Social-Capitalism). Each of these will be analyzed for their strengths and weaknesses, and they will be related to the two different political systems of individual-oriented democracy and socially-based autocracy. This course aims to help both American and international students to understand Chinese economy in the era of globalization and the interaction between China and the rest of world. The major theme focuses on the process of China's reform and open-door policy, how China interacts with the outside world in trade, finance, investment, energy, reform of international economic institutions and so on, and the implications of Chinese economic reform on the global economy. The course will also address contemporary issues facing the two economic giants, e.g., relative currency values and exchange rates, economic and political alliances, banking and financial systems, economic planning and the development of infrastructure, freedom of enterprise and international relations and its role in the global competition for natural resources. The course will conclude with a discussion of the future of the two economic systems and their approach to economic development, the possible different paths that could be taken in U.S.-Chinese international relations and their relative future positions in the world economy by 2030.

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D

ECO 374 Rising Powers: China's Economic Growth and Development

Prerequisite: Listed prerequisites and instructor approval required.

Course Description This course will explore the transformation of an economy that has been growing at a speed that is starting politicians and economists alike. Just imagine-the end of a dynasty and a civil war, invasion and occupation, the spread of socialist culture and rapid modernization, Cultural Revolution and radical transformation reforms that paced the way to a market system, rapid integration into the world economy and extraordinary rates of growth-all this and much more in the course of only 100 years! An unparalleled transformation indeed! The origins and dynamics of this transformation will be studied in light of existing economic theories. The course will examine the process historically through consideration of the economic and political origins of modern China, starting from the early years of unification under the Qin Dynasty, continuing to the rise of commerce during the Han Dynasty, then on to the warring periods and inflationary pressures foreshadowing the Song Dynasty, the introduction of paper money and its acceptance during the Yuan Dynasty, and the isolation of the Ming Dynasty. The course will explore the process of transformation within a contemporary framework, exploring the consequences of growth and development on poverty, inequality, and environmental change. It will also discuss how development is affected by national policies and by global economic trends.

Course Rotation: NY: Fall

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D

ECO 375 China's Financial System: Past, Present and Future

Course Description:China’s explosive growth has taken place concurrently with the rapid development of its financial system. Has rapid growth been aided by its financial evolution or has growth occurred despite its financial backwardness? The Chinese financial system is impressive for its size and activity while in a very real sense terrifying in its lack of prudential standards, its paucity of financial regulation, and its surreal accounting practices. How can we develop a firm understanding of the current structure and operations of China’s financial system? Our approach will be to study China’s past financial systems, paying close attention to the period beginning in the 1820’s. We will examine the evaluation of finance in China through the abrupt suspension of modern finance occurring with the rise of the Chinese Communist Party. We also examine the unique structural aspects of China’s financial system. Its current issues and problems, and a variety of scenarios for its future development. We pay special attention to the interaction between the financial system, credit allocation, and the performance of the real economy. We also investigate the current areas of fragility within China’s financial system and possible policy options.
Course Rotation:Spring;NY

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D

ECO 376 From Wall Street to the Great Wall

Course Description: This course will offer Pace University students a rare first-hand opportunity to learn about the current political, social, and economic dynamics that are impacting Chinese culture and institutions. As a result, the students will be able to better understand the challenges and opportunities that exist in China today, especially those pertaining to its business environment, financial markets and institutions, and economic development. The students will have opportunities to communicate and exchange ideas with Chinese scholars and students in a Chinese University. In addition, the students will visit historical and cultural sites.
The course will be centered in China's vibrant financial center, Shanghai. They will travel to Beijing and visit historical and cultural sites, including the Great Wall and the China Currency Museum. They will learn about the effect of isolationist policies on China's growth and development and the role of government in the development of a common currency. They will also visit Tiananmen Square and learn about the radical changes of the Mao years and the rise of the reformist government of Deng Xiaoping. The students then will return to Shanghai and will explore the investment environment and China's financial markets and institutions. The visit to the Banking Museum and the Shanghai Stock Exchange will help the students to recognize the difference between the U.S. and Chinese financial systems. The students will also learn more about the People's Bank of China and the monetary policy implemented by the central bank during the 2007-2009 global financial crisis.

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D and ECO 359 Minimum Grade of D or ECO 373 Minimum Grade of D

ECO 378 Emerging Economic Markets

Prerequisite: Listed prerequisite courses and junior standing.

Course Description: Emerging Markets (EM) countries with rapid economic growth of development pose a different set of challenges and opportunities than the environment in developed markets. Acknowledging this fact, this course will examine the factors contributing or impeding the development of EM. The course will not only examine the institutional foundations of well-functioning emerging financial markets, namely: national government’s fiscal balances and the value of their currency; sound law, regulations and systems of information controls but also review the imperatives dictated by the globalization of capital flows, country risks and the real economy.

Course Rotation: NYC: Fall and Spring.

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D

ECO 380 Mathematical Economics

Course Description: This course introduces mathematical techniques that are fundamental to modern economic analysis and applies these techniques to economic issues such as the theory of consumer behavior, the theory of the firm, and macroeconomic models.

Course Rotation: NYC: Fall. PLV: Spring - Odd years.

3 credits

Prerequisites

Pre-requisite for ECO 380/390 ( Course : ECO 105 . Minimum Grade of D. ) or (Course : ECO 106 . Minimum Grade of D. )

ECO 381 Applied Game Theory

Course Description: The course studies the key ideas of game theory with applications to negotiations, market analysis, monetary policy, business strategy, mixed strategies, and international affairs.

Course Rotation: NYC: Spring.

3 credits

Prerequisites

ECO 105 Minimum Grade of D and ECO 106 Minimum Grade of D

ECO 385 Econometrics: Models and Organizations

Course Description:Econometrics is the contribution of statistics, mathematics, and economic theory in processing, formulating, and estimating models of economic behavior. Attempting to discover economic laws and solve problems of human action by the use of statistical data, econometricians maintain that science is measurement and permits them to use precise mathematical measurement for testing and developing economic theory. This course involves extensive use of the computer; students are encouraged to design research projects that analyze data from an econometric perspective.

Course Rotation: NYC: Spring.

3 credits

Prerequisites

ECO 240 Minimum Grade of D

ECO 387 Mathematical Economics II

Course Description:This course is the sequel to mathematical economics I. Students will be exposed to solving more complex quantitative problems in economics. Students will be exposed to many of the concepts discussed in calculus, linear algebra, and differential equations.
Course Rotation:Spring;NY

3 credits

Prerequisites

ECO 380 Minimum Grade of D

ECO 390 Internship in Economics

Course Description: This course provides economic majors and other interested students with work placement in corporations and organizations, either public or private, dealing with economics issues. Placement is on an individual basis depending upon need and availability. Such placements give students a first-hand understanding of important economic principles and practices evident in society and provide skills and methods for dealing with economic matters.

Course Rotation: NYC: Fall, Spring, and Summer. PLV: Spring - Odd years.

1 - 3 credits

Prerequisites

Pre-requisite for ECO 380/390 ( Course : ECO 105 . Minimum Grade of D. ) or (Course : ECO 106 . Minimum Grade of D. )

ECO 395 Independent Study in Economics

Prerequisite: Junior standing and a minimum QPA of 3.00.

Course Description: With the approval of the appropriate faculty member, the department chairperson, and the academic dean, students may select a topic for guided research that is not included in the regular course offerings. The student meets regularly with the faculty member to review progress. A research project or paper must be submitted.

Course Rotation: Fall and Spring.

1 - 9 credits

ECO 396D Topic: Economics of Health Care

3 credits

Prerequisites

ECO 106 Min Grade D or ECO 106 Min Grade D

ECO 396E Topic: Forecasting With Data Mining

Course Description: Data Mining is fundamentally different from traditional statistical/econometric techniques. Some of the analytical tools used in Data Mining are Classification Trees, Regression Analysis, and Neural Networks. Two Data Mining computer programs are introduced in the course. The first is an EXCEL add-in XLMiner. The second is the state of the art SAS Enterprise Miner 5.3 data mining program that is part of the overall SAS analytical system. Some of the topics covered in the course include fraud detection, student enrollment and retention forecasting, consumer behavior prediction, etc.

3 credits

ECO 396H Global Finance, Investments and Economic Activity

Prerequisite:ECO 105 and 106. This course focuses on the analysis of balance of payments, foreign exchange rates (fixed and flexible), risks in the global environment and their effects on global investments and economic and financial activity.

Spring NYC.

3 credits

Prerequisites

ECO 105 Min Grade D or ECO 106 Min Grade D

ECO 396J Topic: Faces of the Fed: The Political Economy of U.S. Monetary Policy

Course Description:The course examines the evolution of central banking in the United States over the past two hundred and thirty years. Key developments are highlighted from a variety of perspectives including economic, historical, political, and organizational approaches. A unique aspect of the course is its focus on the leaders of the Federal Reserve System, their challenges, and their response to the business cycle and the changes in the structure of the U.S. economy and financial markets.
Course Rotation: NY: Fall

3 credits

Prerequisites

ECO 105 Min Grade D and ECO 106 Min Grade D and ECO 238 Min Grade D

ECO 396K Topic: Mathematical Economics III

Course Description: The course explores further applications of mathematics in solving economic problems and continues to expose students to recent literature.

3 credits

Prerequisites

ECO 296K Min Grade D

ECO 396M Topic: Central Banking

Course Description: Topics include the stabilization policies used by the Federal Reserve and other central banks in their functions as macroeconomic risk managers. Strategies are discussed which are designed to produce price stability, sustainable growth, and high levels of employment. Discussion of central bank, independence, transparency, and data dependant monetary policy decisions will be covered.

3 credits

ECO 396S Topic: U.S. and China: Economic & Political Relations

Prerequisite: Listed prerequisites and junior standing required. This course is open to Economics majors only and requires approval of the instructor to register.

New Core: Fulfills 3 credits in Area of Knowledge III.

Course Description: The course will trace the relationship of the development of the U.S. and Chinese economies from 1850 to the present. It will analyze the forces that led to the first opening up of trade between the two nations and the initial business relationships formed. It will also connect the political relationships of China and U.S. with these developments. The course will track the highs and lows of U.S. and Chinese economic and business relations through the late 19th and the 20th Centuries up until the present day. This exploration will include the role of capitalism and socialism in the world as they both developed and the forces that created the changes in both economic systems. Two contrasting models of economic development will be explored: the U.S.'s more business centered market economy (Corporate Capitalism) and the Chinese government's guided planned market system (Government Driven Social-Capitalism). Each of these will be analyzed for their strengths and weaknesses, and they will be related to the two different political systems of individual-oriented democracy and socially-based autocracy. This course aims to help both American and international students to understand Chinese economy in the era of globalization and the interaction between China and the rest of the world. The major theme focuses on the process of China's reform and open door policy, how China interacts with the outside world in trade, finance, investment, energy, reform of international economic institutions and so on, and the implications of Chinese economic reform on the global economy. The course will conclude with a discussion of the future of the two economic systems and their approach to economic development, the possible different paths that could be taken in U.S.-Chinese international relations and their relative future positions in the world economy by 2030.

3 credits

Prerequisites

ECO 105 Min Grade D and ECO 106 Min Grade D

ECO 396T Topic: Applied Game Theory II

Course Description: This course examines applications of game theory to current issues in auction structure, mechanism design, replicator dynamics, negotiation, and market structure. The course utilizes a combination of game theoretic modeling and case studies to illustrate the key concepts.

3 credits

Prerequisites

ECO 381 Min Grade D

ECO 396U Topic: Emerging Financial Markets: Capital Flows, Policies and Financial Institutions

Course Description: The course examines emerging financial markets (EFMs) in different developing and transition countries, and assesses the influence of well-functioning financial markets, as well as the imperatives dictated by the globalization of capital flows, international portfolio diversification and the real economy. Case studies will highlight the influence of institutional participants in shaping these markets, and will also provide an overview of tested regulatory changes and financial and macro-economic stabilization policy prescription which have contributed to the building of more robust financial institutions and markets in emerging developing economies.

Course Rotation: NY: Spring.

3 credits

Prerequisites

ECO 105 Min Grade D

ECO 396V Topic: From Wall Street to the Great Wall

Prerequisite: Listed prerequisites. This course is open to Economics majors only and requires approval of the instructor to register.

New Core: Fulfills 3 credits in Area of Knowledge III.

Course Description: This course will offer Pace University students a rare first-hand opportunity to learn about the current political, social, and economic dynamics that are impacting Chinese culture and institutions. As a result, the students will be able to better understand the challenges and opportunities that exist in China today, especially those pertaining to its business environment, financial markets and institutions, and economic development. The students will have opportunities to communicate and exchange ideas with Chinese scholars and students in a Chinese University. In addition, the students will visit historical and cultural sites. The course will be centered in China's vibrant financial center, Shanghai. They will travel to Beijing and visit historical and cultural sites, including the Great Wall and the China Currency Museum. They will learn about the effect of isolationist policies on China's growth and development and the role of government in the development of a common currency. They will also visit Tiananmen Square and learn about the radical changes of the Mao years and the rise of the reformist government of Deng Xiaoping. The students then will return to Shanghai and will explore the investment environment and China's financial markets and institutions. The visit to the Banking Museum and the Shanghai Stock Exchange will help the students to recognize the difference between the U.S. and Chinese financial systems. The students will also learn more about the People's Bank of China and the monetary policy implemented by the central bank during the 2007-2009 global financial crisis.

3 credits

Prerequisites

ECO 105 Min Grade D and ECO 106 Min Grade D

ECO 399 Public Economic Policy Analysis

Course Description: This course will provide an introduction to Public Economic Policy Analysis. It is designed as the Capstone course for the minor in Public Economic Policy offered by the Economics Department in NY. It will focus on how to do public economic policy analysis and will teach various tools and techniques to make the student proficient in such analysis. The course is designed to give you theoretical and practical exposure to the process of public economic policy making and policy analysis.

Course Rotation: NY: Fall.

3 credits

ECO 400 Seminar in Economic Theory

Prerequisite: Permission of Department Chair.

Updated Course Description: A capstone course in which students learn the methods of conducting original research. Students examine and economic issue in depth and learn how to access existing knowledge. They develop a major research project and present their research orally. The course requires a major written project.

Course Rotation: NYC: Fall. PLV: Spring - Odd years.

3 credits

ECO 600 Independent Studyin Graduate Economics

1 - 9 credits

ECO 616 Macroeconomics and Business Planning

Course Description: An in-depth analysis of the macroeconomics topics introduced in MBA 626 or MBA 644. Emphasizes the evaluation of macroeconomic forces in corporate planning. Topics include investment theories, business cycles, national income accounting, and flow of funds analysis.

3 credits

Prerequisites

MBA 626 Minimum Grade of B or MBA 644 Minimum Grade of B

ECO 622 International Economics

Course Description: Examines the theory of international trade and international monetary economics. Emphasizes the applications of these theories to public policy issues, particularly to corporate planning. Topics include gains from trade, comparative advantages, tariffs and other trade interventions, balance of payments, models of adjustment, flexible vs fixed exchange rates, and the role of institutions such as GATT, the IMF, the World Bank, the Eurodollar market and the role of central banks.

3 credits

Prerequisites

Pre-requisite for ECO 622 ( Course : MBA 644 . Minimum Grade of C. )

ECO 630 Game Theory for Business Decisions

Course Description: Introduces the student to the principles of game theory and its application to business and economic situations in interactive settings. Concepts will be demonstrated through the use of business case studies and interactive experiments.

Course Rotation: NYC:Fall

3 credits

Prerequisites

MBA 644 Minimum Grade of C and MBA 672 Minimum Grade of C

ECO 646 International Risk Analysis

Course Description: Focuses on the macroeconomic and microeconomic methods and techniques that are used by corporate managers and investment analysts for tracking global market trends, and for assessing the economic, financial and political risks involved in these markets. Utilizes economic data on global markets to analyze market trends and risks. Evaluates the investment, and hedging strategies available to corporate managers. Makes extensive use of material on the role played by the major international rating agencies, including Moodys and Standard and Poors, and international economic agencies, such as the IMF and World Bank.

3 credits

Prerequisites

MBA 626 Minimum Grade of C or MBA 644 Minimum Grade of C

ECO 653 Empirical Methods for Business Economic Analysis

Revised Course Description: Familiarizes students with applied financial econometrics, with emphasis on empirical analysis of economic and financial data using statistical software packages. Teaches to pursue applied data projects. Methods covered include: simple and multiple linear regression models, regression with time series variables, volatility models, Granger casuality, vector autoregressions, forecasting, panel data analysis.

3 credits

Prerequisites

MBA 632 Minimum Grade of C or MBA 648 Minimum Grade of C

ECO 694 Research Project

Prerequisite: This course will meet on the first night only and by appointment thereafter.

Course Description: The student prepares a research document that includes the following: definition of a business problem, appropriate information and data, analysis and evaluation of the data, presentation of findings, conclusions and recommendations.

3 credits

Prerequisites

ECO 656 Minimum Grade of C

ECO 694Q Research Project

Prerequisite: Advanced Standing and Departmental Approval Required. This course will meet on the first night only and by appointment thereafter.

Course Description: The student prepares a research document which includes the following: definition of a business problem, appropriate information and data, analysis and evaluation of the data, presentation of findings, conclusions, and recommendations.

3 credits

ECO 826 Doctoral Concentration Seminar in International Economics

Revised Course Description: Develops a comprehensive doctoral perspective of international economics. Critically reviews the conceptual foundation and theoretical development of international economics. Explores major contemporary debates and problems of international economics. Evaluates research methodologies and findings that support various theories and viewpoints of economics. Evaluates the research methodologies and findings that support various theories and viewpoints of international economics. Examines the implications of international economics for future research, student education, and business practice. Identifies topics that require future research in international economics. Begins preparation for doctoral comprehensive examination.

3 credits

Prerequisites

DPS 820 Min Grade B and ECO 622 Min Grade B