Economics

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James Thorson
CHAIRPERSON
School of Business, Room 224
(203) 392-5171 – Fax (203) 392-5254
thorsonj1@SouthernCT.edu
Department Secretary:  (203) 392-5615

Samuel Andoh, Professor
Peter Bodo, Professor
Yilma Gebremariam, Professor
Sanja Grubacic, Professor
Younjun Kim, Assistant Professor
Jason Patalinghug, Assistant Professor
James Thorson, Professor
Sang Won Yoon, Associate Professor
Jia Yu, Assistant Professor

CONCENTRATION IN BUSINESS ECONOMICS

The concentration in business economics focuses on the best ways to get the most benefit from scarce resources. Study covers firms and organizations (microeconomics) and nations (macroeconomics). The concentration provides the conceptual basis for integrating knowledge of the functional areas of business administration in industry, government, and nonprofit organizations. By doing so, it opens the way not only toward teaching, research, and consulting, but also toward graduate study in business, government, and law.

ECO 100 - Principles of Macroeconomics

This introductory course focuses on the basic principles explaining aggregate economic activity. Topics covered include the concepts ,measurements, and problems associated with aggregates such as gross domestic product, price level, unemployment and macroeconomic policy.

3 credit(s).

Last Term Offered: Spring 2021

ECO 101 - Principles of Microeconomics

This introductory course focuses on the basic problem of resource allocation in an economy with particular reference to the market economy.

3 credit(s).

Last Term Offered: Spring 2021

ECO 110 - Social Issues and Economics

One-semester issue-based general education economics course. Various topics include: The Great Recession, stock market and crashes, race and sex discrimination, international trade, minimum wage, climate change, helath care, crime, and income inequality.

3 credit(s).

Last Term Offered: Spring 2021

ECO 200 - Macroeconomic Analysis

Examination of the composition of the national income and the effects of changes in its components upon the level of national income. Also analyzed are the nature of business cycle fluctuations, with attention to the interrelated problems of inflation, balance of payments, unemployment, and economic growth. The problem of forecasting economic activity and the development of private and public stabilization programs are analyzed.

Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: Fall 2020

ECO 201 - Microeconomic Analysis

Analysis of the economic principles and processes involved in the structure and operation of a predominantly free-enterprise economic system. Attention is given to pricing and distribution theory (micro-analysis).

Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: Spring 2021

ECO 221 - Statistics for Economics and Business

A first course in statistics concentrates on applications in business and economic decision making. Topics covered include descriptive statistics, basic probability distributions, sampling theory, confidence interval estimation, hypothesis testing, correlation, and simple regression analysis.

Prerequisite(s): ECO 100 and ECO 101, and MAT 120.

3 credit(s).

Last Term Offered: Fall 2019

ECO 270 - Applied Business Statistics

Examination of the practical statistical tools corporate managers and investors use in decision making. Presentation of statistical concepts such as descriptive indicators, risk analysis, performance trends and indicators, cause-effect analysis, and the analysis of relationships between business indicators and measures in applied contexts of business administration.

Prerequisite(s): ECO 100, 101 and MAT 112, 120 or 125 and at least one 200-level business course (ACC/BIS/ECO/FIN/ MIS/MGT/MKT)

3 credit(s).

Last Term Offered: Spring 2021

ECO 303 - Development Economics

The purpose of this course is fourfold: (1) to introduce the student to the field and tools of development economics; (2) to explore in depth the philosophical, theoretical, and policy-oriented complexities of contemporary development issues facing over two-thirds of the world’s population; (3) to examine the strengths and weaknesses of alternative development strategies in light of country experience, and (4) to evaluate recent policy options introduced in development.

Prerequisite(s): ECO 100 or departmental permission. Prerequisite(s): ECO 100 or departmental permission.

3 credit(s).

Last Term Offered: Spring 2021

ECO 304 - Labor Economics

This course covers topics in both the supply of and demand for labor, wage determination, the effects of market structure on the equilibrium in the labor market, and the theory of human capital. Additional issues may include labor market discrimination, time allocation between and among house-holds, and the effect of unions.

Prerequisite(s): ECO 100 and ECO 101. A knowledge of stati stics is helpful.

3 credit(s).

Last Term Offered: Spring 2019

ECO 307 - Urban Economics

An economic analysis of the structure and functioning of contemporary urban communities to identify and study the more pressing economic problems. Attention is directed to the changing structure of central cities, fiscal arrangements, housing markets, and public goods.

Prerequisite(s): ECO 100 and ECO 101. Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: Fall 2019

ECO 311 - Public Finance

Principles and techniques involved in obtaining and expending funds by governmental bodies. Considered also are the nature of governmental borrowing and indebtedness as well as sources of revenue and fiscal administration.

Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: Spring 2021

ECO 315 - Behavioral Economics

Study of how psychological, cognitive and social factors affect real-world economic decisions. The factors include loss aversion, probability weighting, procrastination, mental accounting, heuristics, biases, and social norms.

Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: not yet offered

ECO 321 - Introductory Econometrics

An exposition of methods of the empirical determination of economic laws. Topics include the general linear regression model and the corrective measures to take in the critical use of ready-made econometric computer programs which come with an understanding of the rationale of the various methods of econometrics.

Prerequisite(s): ECO 100, ECO 101, and ECO 270.

3 credit(s).

Last Term Offered: Fall 2020

ECO 330 - Economics of Entrepreneurship

Examines economic and behavioral factors affecting entrepreneurial decisions, and business performance and survival. Explores government policies promoting entrepreneurship and innovation.

Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: not yet offered

ECO 333 - Economic History of the U.S

A study of the tools of economic theory to investigate issues in the economic growth and development of the United States from the early colonial period to the Depression of the 1930’s. Attention centers on the forces underlying the development of the modern economy.

Prerequisite(s): ECO 100 and ECO 101. A knowledge of Ameri can History is useful.

3 credit(s).

Last Term Offered: Summer 2018

ECO 334 - History of Economic Thought

Analysis of economic ideas from Aristotle and Plato to the contemporary scene of Keynes, Robinson, and Chamberlin. Included is the study of the mercantilists, and Adam Smith, Karl Marx, Ricardo, and Malthus.

Prerequisite(s): ECO 100 and 101.

3 credit(s).

Last Term Offered: Summer 2017

ECO 340 - Money and Banking

A close look at the role of money in determining output, inflation, and interest rates. Topics include money creation, monetary policy, budget deficits, financial intermediation, banking regulations, and the Federal Reserve.

Prerequisite(s): ECO 100 and ECO 101. Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: Spring 2021

ECO 350 - International Economics I: Trade

Theoretical foundations of why nations trade; the problems that arise from trade and the policies nations adopt to correct the problems.

Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: Fall 2020

ECO 351 - International Economics II: Finance

The global economic activity and balance of payments implications of fiscal/monetary policies under various capital market conditions. Topics include absolute/comparative advantages, exchange rates and the balance of payments, national income determination in an open economy, integrated and nonintegrated capital markets, economic growth, stablization policies, and the quest for global economic stability.

3 credit(s).

Last Term Offered: Fall 2020

ECO 360 - The Economics of Poverty and Inequality in America

The economics of poverty and inequality in America is designed to provide both theoretical and empirical examination. The course draws together some of the most influential research, as well as more up-to-date articles and data that have influenced the evolution of social policies in America. This class is intended to offer students the opportunity to apply economic theory and empirical tools made available in teaching syllabus.

Prerequisite(s): ECO 100 and ECO 101.

3 credit(s).

Last Term Offered: not yet offered

ECO 398 - Special Topics in Economics

This is a special course that is either in the pilot stage or a course that will be offered up to three times.

Prerequisite(s): based on class content.

3 credit(s).

Last Term Offered: Winter Session 2019

ECO 410 - Managerial Economics

Problems solving applications of microeconomic theory to policy level decision-making processes of individual firms competing in local, national, and international markets.

Prerequisite(s): ECO 100, ECO 101, and ECO 270.

3 credit(s).

Last Term Offered: Fall 2018

ECO 450 - Seminar in Applied Economics

An integrating course in economics that calls for the application of statistical and econometric methods to solve economic problems of personal interest. Students formulate a problem, set out the methodology for its resolution, conduct an analysis, and draw valid inferences with policy implications.

Prerequisite(s): ECO 200, ECO 201, ECO 221, 6 of 8 Tier 2 complete (Honors Coll.: 15 cr. HON or 45 cr. total), and prior or concurrent completion of all Tier 1 (Honors Coll.: T1MC and T1QR only).

3 credit(s).

Last Term Offered: Spring 2021

ECO 497 - Internship

A supervised internship in business or government with the application of economic theory to problems of enterprise administration. Bi-weekly reporting to the faculty supervisor is necessary.

Prerequisite(s): Senior status and departmental permission.

1 to 3 credit(s).

Last Term Offered: Spring 2019

ECO 499 - Independent Study

Research of a high quality meeting the standards of the department faculty director.

Prerequisite(s): Senior status and departmental permission.

1 to 3 credit(s).

Last Term Offered: Spring 2020

FIN 439 - Security Analysis and Portfolio Management

Presents the basic theories and practical approaches for managing a portfolio of financial assets within the risk-return framework. Perspectives and strategies associated with portfolio management and security analysis are studied. Topics discussed include: risk-return trade-off; asset selection and allocation; portfolio optimization; asset pricing models; market efficiency and investing strategies; analysis and evaluation of asset management and new developments in professional asset management. Students aspiring for a professional asset management career or planning to take the CFA test will find this course particularly useful.

Prerequisite(s): FIN 341.

3 credit(s).

Last Term Offered: Fall 2020

FIN 456 - Entrepreneurial Finance and Venture Capital

A special course for students interested in starting a new business. Topics: legal organization, entrepreneurial profile, return and risk relation in venture business, and marketing, business planning, capital budgeting, financing and personnel issues in the management of a venture business.

3 credit(s).

Last Term Offered: Spring 2021