Economics (ECO)

Courses

ECO 201. Introduction to Microeconomics. 3 Hours.

Provides students with fundamental issues related to the market price system, allocation of economic resources, cost and production of private firms, various market structures, prices of economic resources, and some issues related to welfare economics. Course Information: This course fulfills a general education requirement at UIS in the area of Social and Behavioral Sciences (IAI Code: S3 902).

ECO 202. Introduction to Macroeconomics. 3 Hours.

Provides the student with materials related to business cycles, productivity, consumer expenditure, investment expenditure, the classical macro economic system, Keynesian theory, monetarism, and supply side economics. Also covers materials related to fiscal policy and monetary policy, as well as the budget. Globalization issues such as international trade and the factor movement will also be discussed. Course Information: This course fulfills a general education requirement at UIS in the area of Social and Behavioral Sciences (IAI Code S3 901).

ECO 213. Statistics for Business and Economics. 3 Hours.

The use and misuse of statistics in decision making, descriptive statistics such as organizing and plotting data and finding statistical indicators such as mean, variance, skewness, quartiles, quantiles, and percentiles, elementary probability rules and principles of counting, some discrete and continuous probability distributions, sampling, point and interval estimation and hypothesis testing, the Chi-square distribution, an introduction to analysis of variance (ANOVA), and simple regression and correlation analysis. Course Information: This course fulfills a general education requirement at UIS in the area of Mathematics (IAI Code: M1 902) or UIS: Mathematics Statistics.

ECO 301. Managerial Economics. 3 Hours.

Consumer behavior, productions theory, pricing in different market structures, and cost and allocation of resources. Introduction to general equilibrium theory and welfare economics. Course Information: Prerequisite: MAT 113 or MAT 114, ECO 201 and ECO 202, or equivalent.

ECO 302. Macroeconomics in a Global Economy. 3 Hours.

National income determination; classical, Keynesian, and post-Keynesian theories of employment, interest, and money. Analysis of business cycles, inflation, and economic growth in the global economy. Economic policy for national and global growth, international monetary systems, and globalization in light of recent theoretical and empirical developments Course Information: Prerequisite: MAT 113 or MAT 114, ECO 201 and ECO 202, or equivalent.

ECO 314. Analytical Decision Making for BUS and ECO. 3 Hours.

Matrix algebra, Markove chains, input-output analysis, linear programming and its application to the allocation of economic resources and transportation, differentiation and integration of functions of one and several variables, and optimization of constrained and unconstrained functions. Course Information: Prerequisite: ECO 201 and ECO 202, and ECO 213, or equivalent.

ECO 315. Economics for Administration. 4 Hours.

Essential micro and macroeconomic concepts as they apply to administrative decisions. Principal theories and analysis of efficient resource allocation as related to economic decisions of individuals, public and private organizations, and society. Course Information: Primarily for students who have had no prior college-level work in economics. Students who have completed macroeconomics and microeconomics will not receive credit toward degree requirements for this course. Not accepted toward requirements of Economics Degree. Not accepted as upper division coursework required for a CBM degree. Not intended for students with Freshman or Sophomore standing. This course fulfills a general education requirement at UIS in the area of Social and Behavioral Sciences.

ECO 335. Money, Banking, and Financial Markets. 3 Hours.

Concentrates on principles of banking and financial markets with emphasis on commercial banks, Federal Reserve System, monetary policy, other depository institutions and regulatory agencies. Money and capital markets, risk and term structure of interest, and other topics in the area of financial markets are discussed. Course Information: Prerequisite: ECO 201 and ECO 202, or equivalent.

ECO 408. History Of Economic Thought. 3 Hours.

The course analyzes individual economists and schools of economic thought such as Ibn Khaldun's Political Economy, Mercantilism, Physiocrats, Classical school, Marxist school, Marginal school, Neoclassical school, Veblenism, Keynesian, New Keynesian, and Post Keynesian Economics, Chicago Traditions and New Classical Economics, and New Institutional Economics. Course Information: Prerequisite: ECO 201 and ECO 202, or equivalent.

ECO 413. Econometrics. 3 Hours.

Research methods in economics and statistical techniques used to estimate economic relationships. Includes random variables and probability distributions, theory of estimation and hypothesis testing, simple and multiple linear regression models, introduction to forecasting, and problems of single-equation estimation. Course Information: Prerequisite: ECO 314, or equivalent.

ECO 421. Comparative Economic Systems. 3 Hours.

Examination of world economic systems, definition and classification of economic systems, system's performance criteria, reforming economic systems and institutions, theory of capitalism and socialism, the existing Asian and European models of capitalism, China's and Russia's economic system, African and Middle Eastern economic systems, transitions models and transition economies, privatization, fiscal and monetary issues, transition and the global economy, and performance of the transition economics. Course Information: Prerequisite: ECO 201 and ECO 202, or equivalent.

ECO 422. Economics for Managerial Decisions. 3 Hours.

Provides students with a microeconomic foundation for application to a wide variety of decisions made by managers. Topics include: demand analysis and forecasting; cost analysis, production analysis and compensation policy, performance and strategy in competitive markets; game theory and competitive strategy and pricing practices. Course Information: Prerequisite: ECO 201 and ECO 202, or ECO 315 for non-majors, or equivalent.

ECO 431. Financial Economics. 3 Hours.

Economic analysis of the basic workings of financial markets, particularly measurement and pricing of risk; portfolio management; risk-return analysis; capital asset pricing models; time value of money; valuations of stocks and bonds; introduction to options and futures; derivatives. Course Information: Prerequisite: ECO 335, or BUS 302, or equivalent, or instructor approval.

ECO 435. Theory of Finance and Applications. 3 Hours.

Elements of finance theory and its application to real world problems. Covers investment decision under certainty and uncertainty, mean-variance theory, market equilibrium, capital asset pricing model (CAPM), arbitrage pricing theory (APT), option pricing theory, theory of efficient capital market, theory of capital structure and cost, theory of dividend policy, economics of leasing, and economic theory of mergers and tender offers. Course Information: Prerequisite: ECO 335, or BUS 302, or equivalent, or instructor approval.

ECO 437. Securities Markets. 3 Hours.

Examination of the stock, bond, futures, and option markets and their functional contributions to economic activity. Discusses mechanics and use of the markets with particular emphasis on the financial instrument components. Course Information: Prerequisite: ECO 335, BUS 302, or equivalent, or instructor approval.

ECO 438. Futures And Options. 3 Hours.

Primary examination of the futures and options markets and their contributions to economic activity. Discusses mechanics and use of the markets with particular emphasis on the financial instrument components. Course Information: Prerequisite: ECO 437 or equivalent.

ECO 445. Economic Development. 3 Hours.

Examination of development economics and developing nations, characteristics of developing countries and the effects of colonialism; definition of development and theories of development and theories of imperialism and development; the growth issue, economics of growth, growth and poverty and income distribution; the population issue and economics of population; the unemployment problem; theories and policies of urbanization and rural-urban migration; agricultural transformation and rural development; education and development; international trade theory and development; the balance of payments, exchange rates, and the debt problem; export promotion, imports, economic integration; direct foreign investment and foreign aid; development planning, fiscal and monetary policies, and the role of the state; global economic issues. Course Information: Prerequisite: ECO 201 and ECO 202, or ECO 315 for non-majors, or equivalent.

ECO 447. International Trade and Finance. 3 Hours.

Survey of pure theory of trade: classical trade theory, Hechscher-Ohlin-Samuelson theorem, and related topics; international trade and growth; theory of tariffs, protection, and customs union; and movement of factors of production. Survey of theory and policy of international finance: exchange rate theories, balance of payments, international financial markets, macroeconomic policy mix for external and internal equilibrium, LDC debt problem, and international cooperation. Course Information: Prerequisite: ECO 201 and ECO 202, or ECO 315 for non-majors, or equivalent.

ECO 449. International Business. 3 Hours.

Designed for undergraduate students of economics and business who are interested in the field of international economics as well as other students who want a specialty in the field of global business. The course covers different approaches to international business: theories of international trade, theory of direct foreign investment, multinational enterprises and their strategies in marketing, production, management, and financial decisions. It also covers the cultural aspect of global business and business-government interactions and terrorism and its effects on global business. Course Information: Prerequisite: ECO 201 and ECO 202, or equivalent.

ECO 456. Public Finance. 3 Hours.

Microeconomic analysis of public finance and the role of government in a mixed economy, with attention to public goods theory, cost-benefit analysis, and taxation. Examines the economic basis of government and its functions; analyzes alternative government expenditures, regulations, and finances, including Social Security and health care policy. Course Information: Prerequisite: ECO 301 or equivalent.

ECO 461. Industrial Organization. 3 Hours.

Structure, conduct, and performance of American industry in a global economy: historical evolution, alternative industrial systems, anti-trust policies, and regulation. Technological change and its impact on industrial performance.

ECO 485. Business Cycles. 3 Hours.

Characteristics and measurement of business cycles; classical and modern theories of business cycles; non-orthodox theories of business cycles (such as those of Marx, Veblen, Mitchell, and Kalecki); Kondratief long wave cycles; the real business cycle; political business cycle; impacts of business cycles; historical cases of recession and expansion; the U. S. economy and other economies; and the role of monetary and fiscal policy in countering business cycles. Course Information: Prerequisite: ECO 201 and ECO 202, or equivalent.

ECO 490. Advanced Topics in Economics. 1-4 Hours.

Each topic covers a different economics concept and may include an intensive workshop. May be repeated for an indefinite number of hours, but particular topics must differ. May not be substituted for a regularly scheduled class.

ECO 499. Tutorial In Economics. 1-4 Hours.

Undergraduate readings and/or research in selected topics in economics. Arranged by the student with instructor of his/her choice. May not be substituted for a regularly scheduled class. Course Information: May be repeated to a maximum of 4 hours if topics vary.