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Economics Mr. Donald Materniak, CPA, CFA When you study economics at Franciscan University, you'll be trained to think like an economist - to use an array of tools to analyze problems in business, psychology, sociology, political science, history, and philosophy. The intellectual skills and knowledge acquired by persons who study economics are prized by business, government, and graduate schools. You'll be prepared for employment in a variety of careers and for graduate study in diverse fields such as economics, business administration, finance, law, public administration, and policy analysis and formulation.
Bachelor of Arts Degree in Economics
FRESHMAN YEAR
SOPHOMORE YEAR
JUNIOR YEAR
SENIOR YEAR
Economics Major Requirements Eco 201, 202, 209, 210, 341, 401, 411, 412, 430, 434, and 3 economics electives from 300-400 level courses; Acc 101, 102; Mth 160, 161; Hst 207, 208; Phl 113, 212; The 101, 115, 320; 6 credits of intermediate-level foreign language. Suggested electives: Acc 303, 408, 436; Bus 102, 307, 402, 408; Csc 140; Eng 290, 320; and Mth 162. Economics Minor Requirements Eco 201, 202, 302, and 9 credits of 300-400 level economics courses. ECONOMICS COURSES (*Cycled courses offered every other year) ECO 201-202 PRINCIPLES OF ECONOMICS I & II are divided into the macro and micro areas of economics respectively. The macroeconomic section analyzes the economy as a whole with emphasis upon aggregate income analysis and our money system. Microeconomics deals with firm and market behavior that leads to various theories used for policy decision. The course is structured to develop basic economic principles, which provide a better understanding of our economic system and policy decisions. (Social Science Core) 3 credit hours per semester ECO 209-210 ELEMENTARY BUSINESS STATISTICS I & II provide a foundation in the methods of collection, analysis, and presentation of quantitative data as it relates to the decision-making process for business applications. Topics include frequency distribution, population parameter measures, probability concepts, deductive and inferential statistics, index numbers, and time series analysis. (Communications Core) Prerequisites: Mth 153-154 3 credit hours per semester ECO 302* CURRENT ECONOMIC PROBLEMS analyzes the most important contemporary economic problems and the application of fundamental economic theories to present-day business problems. Prerequisites: Eco 201-202 3 credit hours ECO 303 LABOR ECONOMICS presents an analysis of trends and behavior of labor supply and demand, wage levels, structures, and differentials, and their effects on production and employment. Economic principles that underlie social legislation are also studied to give the student a better perspective of labor and its place in our economic society. Prerequisites: Eco 201-202 3 credit hours ECO 321 MONEY AND BANKING considers the nature and functions of the monetary and banking mechanisms. Analyzing money and credit, bank regulations, the Federal Reserve System, and monetary theory are important for understanding not only the institutional structure of our money system, but how it holds together the balance of our economy. Prerequisite: Eco 201 3 credit hours ECO 341 Econometrics provides the student of economics with the tools needed for probabilistic and quantitative analysis of economic phenomena used in the development of theory and observation. The course introduces students to topics such as the classical linear regression model and hypothesis testing in building econometric models and simulations. Also covered are special topics such as autocorrelation, multicollinearity, heteroscedasticity, and dummy variables. Prerequisites: Eco 201, 202, 209, 210, and Mth 161 3 credit hours ECO 401* HISTORY OF ECONOMIC THOUGHT develops economic concepts and theories from the mercantilists to recent economists. Economic ideas and theories related to their respective places in history are constructed. Students are better able to understand the value of various theories regarding their application to the economic world. Prerequisites: Eco 201-202 3 credit hours ECO 411* INTERMEDIATE MACROECONOMIC THEORY is an analysis of Keynesian and neoclassical theories of consumption, investment, interest, savings, monetary, and fiscal policy. This course covers various aspects of the money and banking system, economic growth, and the international economy. Prerequisite: Eco 201 3 credit hours ECO 412* INTERMEDIATE MICROECONOMIC THEORY is an in-depth analysis of the theory of the firm, which includes the theories of consumer behavior, market demand, production decisions, and cost combinations. Prices, output and input costs under pure competition, monopoly, monopolistic competition, and oligopoly are also considered. Prerequisite: Eco 201 3 credit hours ECO 427* INTERNATIONAL TRADE AND FINANCE presents the theory of international trade, the balance of payments, and the global monetary system. The first part of the course traces the development of trade theory and barriers to trade, while the second part focuses on financial markets, exchange markets, and the theory and evidence related to floating exchange rates. Prerequisites: Eco 201-202 3 credit hours ECO 430 Economics Practicum provides the student with opportunities to apply theories presented in other economics courses to "real world" situations. Emphasis is on application of theory, with concentration on communicating effectively in written and oral form. Topics include locating published research, writing skills in economics, theory's role in research, empirical methods, and self-directed study/research skills. This course runs concurrently with Eco 434. Prerequisite: Senior standing 2 credit hours ECO 434 SENIOR THESIS is required of all senior Economics majors. The student will meet with a faculty member to discuss, plan, implement, and create an original research project. This course must be taken concurrently with Eco 430. Prerequisite: Senior standing 1 credit hour |
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