Economics (ECO)

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. IAI Major Code: BUS 901.

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: Prerequisites: 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: Prerequisites: 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: Prerequisites: 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 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: Prerequisites: 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: Prerequisites: 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: Prerequisites: ECO 201 and ECO 202, and ECO 213, 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: Prerequisites: 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: Prerequisites: ECO 201 and ECO 202, or ECO 315 for non-majors, 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: Prerequisites: 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 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.