Economics (ECON)

This is a preparatory course in Economics that will serve as a refresher course required for all students who attend the Online Pathways MBA program.

An introduction to the principles of macroeconomics for graduate students with limited background in economics or business. The course will include the study of aggregate demand and supply analysis for the determination of output, employment, inflation, and economic growth. The role of fiscal and monetary policy will be examined with a focus on the current policy debates.

An introduction to the principles of microeconomics for graduate students with limited background in economics or business. The course will include the study of supply and demand, price theory, competition and market structure, market failure and the role of government and other economic issues.

This course is an introduction to the concepts and applications of mathematics to commercial business problems. The course focuses on the quantitative and analytical methods in the context of practical business applications to enhance essential problem-solving skills of business students. The course will also provide an introduction to the principles of microeconomics for graduate students. The course will include the study of supply and demand, price theory, competition and market structure, market failure and the role of government and other economic issues. Formerly BUAD 5301.

An intensive study of microeconomic theory in both its partial equilibrium and general equilibrium aspects. Topics covered include concepts and techniques of economic analysis; theory of consumer choice; theory of the firm, of capital and interest; theory of markets and exchange; factor price determination and functional income distribution.

Analytical tools of advanced contemporary macroeconomics. Determination of the level of aggregate income; investment, money, interest and prices; wages, prices, and employment.

Microeconomic theory applied to managerial decision-making, relating managerial economics to finance and other business disciplines.

The history, nature, and scope of money and monetary policy in the economy. The principles, problems, and the structure of the US monetary system, operations of commercial banks, the regulation and control of the supply of money and credit, and the organization of the Federal Reserve System. The role of monetary theory and the conduct and effectiveness of monetary policy.

International trade theory and policy including barriers to trade and international monetary economics such as balance of payments and the exchange rate theory. Focusing on trade models, it will address questions such as why countries trade, what gains are from trade, and what determines trade patterns. Formation of trade unions, tariffs, quotas and other non-tariff barriers to trade. Reasons and consequences of rising trade deficits in the United States.

Special studies or internship in economics. May be repeated for credit.