Economics

(ECON) ECONOMICS
William Smith, Ph.D., Interim Chair
Room 400, FCBE Administration Building
http://economics.memphis.edu/

Students must have junior standing and have met specific course prerequisites with a minimum grade of “C” to be eligible for all 3000 and 4000 level courses. In addition to these requirements, students seeking a degree in the Fogelman College of Business and Economics must have (1) completed all required lower division business courses with a minimum grade of “C” in each, (2) minimum of 2.25 GPA (2.5 for accounting majors) in all required lower division business courses and MATH 1830 or 1910, and (3) 60 hours of course work including MATH 1830 or 1910 and 9 hours of English (See B.B.A. Degree Requirements-General Requirements).

A surcharge of $30 per credit hour for 3000 and 4000 level courses and $30 per credit hours for 6000-9000 level courses has been approved by the Tennessee Board of Regents. The purpose of the surcharge on these business courses is to guarantee the continuous improvement of the college and compliance with the standards of the Association to Advance Collegiate Schools of Business International (AACSB International).

In addition to the courses below, the department may offer the following Special Topics courses:

ECON 3020-29. Special Topics in Economics. (3). Current economic issues and problems in the United States; emphasis on application of tools and analytical methods. PREREQUISITE: ECON 2110, 2120.

ECON 4760-69. Special Topics in Economics. (1-3). Topics are varied and in online class listings. May be repeated with a change in topic. PREREQUISITE: permission of department chair.

ECON 2110 - Intro Macroeconomics (3)
Nature and functions of the national economy in a global context. Includes consumption and investment behavior, national income and product determination, fiscal and monetary policy, and international trade. [G]

ECON 2120 - Intro Microeconomics (3)
Operation of the market economy at the individual and firm level; supply and demand analysis, consumer behavior, behavior of firms in both competitive and monopoly environments, income distribution theory, and effects of government intervention in the market economy. [G]

ECON 3123 - Economics of Sports (3)
Tools and concepts of microeconomics to the sport world; individual, team and league behavior with the context of economic theory; player salaries, profit maximization, stadium financing, college athletics.

ECON 3210 - Labor Economics (3)
Introduction to institutional aspects of American labor force and its organization wage and employment theory, economic role of collective bargaining, and basic ingredients of public policy toward labor organization. PREREQUISITE: ECON 2120.

ECON 3310 - Microeconomic Theory (3)
Intermediate approach to price theory; stress on market mechanism as device for resource allocation; attention to uses of basic microeconomic concepts in analysis of economic problems and in formulation of policy. PREREQUISITE: ECON 2120.

ECON 3320 - Macroeconomic Theory (3)
Intermediate approach to social income accounting and to functional relationships between important aggregate economic variables as well as to forecasting and social policy implications. PREREQUISITE: ECON 2110.

ECON 3411 - Economics of Social Issues (3)
Applications of economic theory and analysis to current social problems, and evaluation of current and potential policy solutions to social issues.

ECON 3580 - Intnl Economic Dvlp/Ecol Persp (3)
Process of economic development as adaptive interplay between man's needs and ways in which environment is exploited to satisfy those needs in both developed and less developed countries. PREREQUISITE: ECON 2110, or permission of instructor.

ECON 3610 - Money and Banking (3)
Monetary and banking history of leading countries with special emphasis on theory of money and banking in United States, deposit and earnings operations of individual banks, interbank and central bank relations. PREREQUISITE: ECON 2110.

ECON 4112 - Organizational Econ (3)
Analysis of markets and organizations, competitive advantage, production and cost, consumer and market demand, strategic management decision-making, decision rights, incentives and rewards, and structure of performance systems. PREREQUISITE: ECON 2120.

ECON 4120 - Economic Forecasting (3)
Current economic thinking on problems of recession and inflation as background to economic forecasting; methodologies of forecasting analyzed with examples of each. PREREQUISITE: ISDS 3711, or equivalent.

ECON 4130 - Governmnt Regulation of Bus (3)
Approaches to legal and legislative control of business, especially tax laws, commission regulations, and antimonopoly legislation, in view of impact of each on industrial operating policy. PREREQUISITE: ECON 2120.

ECON 4340 - Comparative Economic Systems (3)
Factors contributing to differential performance of economic systems, including property rights, information flow, incentive structure, management-labor relations, government policies on technology and competitiveness; emerging trends of system convergence and corporate globalization. PREREQUISITE: ECON 2120.

ECON 4350 - International Econ (3)
Historical approach to theory of international trade; consideration given to Classical, Neo-Classical and Modern approach to trade theory with emphasis on policy implications of the analysis. PREREQUISITE: ECON 2120 or equivalent.

ECON 4351 - Intrntl Monetary Theory/Pol (3)
Open economy macroeconomics; examination of payments among nations, foreign exchange markets, determinants of exchange rate policies; national income and foreign exchange, internal and external balance and international factor movements. PREREQUISITE: ECON 2110.

ECON 4410 - Development Econ Thought (3)
Historical development of economic thought; attention primarily on emergence of Classical and Neoclassical thought, several dissident schools of thought, and twentieth century economic thought. PREREQUISITE: ECON 2110.

ECON 4510 - Data Structures And Cleaning (3)
Fundamentals of storing and retrieving data, basic structures, data cleaning techniques using SAS software; methods for examining the quality of data. PREREQUISITE: any one of the following: BIOM 2720, CIVL 3103, CJUS 3129, ISDS 2710, MATH 4614, POLS 4101, PSYC 3001, SOCI 3311.

ECON 4520 - Programming Concepts/Technique (3)
SAS syntax from basic to more advanced statistical concepts; techniques of good programming. PREREQUISITE: ECON 4510.

ECON 4530 - From Data To Information (3)
Capstone course focusing on applications; procedure for taking raw data to analysis through final presentation. Case studies presented and analyzed. PREREQUISITE: ECON 4520.

ECON 4620 - Mathematical Economics (3)
Introduction to way in which basic mathematical tools are used by economists; applications to consumer theory, production theory, market structures, macroeconomic theory. PREREQUISITE: ECON 2110, 3310, and one semester of calculus, or permission of instructor.

ECON 4740 - Health Care Economics (3)
Unique nature of health care as economic good, health care market and its participants including patients, physicians, and hospitals, and financing and delivery of personal health care in United States and other countries.

ECON 4810 - Quant Economics Analysis (3)
Introduction to application of mathematical tools in business and economics; review of matrix algebra, differential and integral calculus; optimization with and without constraints; comparative statistics.

ECON 4820 - Econometrics (3)
Introduction to statistical procedures used to estimate and test quantitative economic theories, using microcomputer software for regression analysis.

ECON 4910 - Problems in Economics (1-3)
Students investigate issues surrounding selected economic problems and develop reports of that investigation. May be repeated to maximum of 3 hours credit. PREREQUISITE: upper division standing and approval of department chair.

ECON 4911 - Internship in Economics (1-6)
Internship in business organization to gain on-the-job experience. Project to be approved and supervised by departmental faculty. Credit allowed only after acceptance of report. PREREQUISITE: 2.75 overall GPA and completed 15 hours in Upper Division core.

ECON 4920 - Senior Seminar in Economics (3)
Coordinated by area coordinator and conducted by selected members of area; integrate several fields and course areas pursued by undergraduate majors into meaningful whole. [I]

ECON 4996 - Honors Thesis in Economics (3)
Independent research open only to students enrolled in Economics Honors Program. Honors thesis supervised by three-faculty committee selected by student and approved by Economics Honors Committee. PREREQUISITE: permission of Economics Honors Committee.