UNCA Catalog: Courses of Instruction
UNCA Catalog: Table of Contents
UNCA Catalog: Courses of Instruction
UNCA Catalog: Table of Contents
Economics (ECON)
Professor Larson (Chair); Professors Browning, Nickless, J. Sulock; Associate Professor Bell; Assistant Professors Konz, Mathews; Lecturer Bumgarner
The major in Economics is designed to provide students with the basic skills and knowledge necessary to understand the economic process within society. The department's objective is to provide students with an educational experience that results in greater intellectual capacity and prepares them for successful careers. Central to achieving this objective is close faculty-student interaction in and out of the classroom. Ample opportunity exists for promising students to develop individual courses.
Students may select one of four concentrations: Economics; Monetary Economics and Finance; Political Economy; Economics with Teacher Licensure.
The objectives of this concentration are: 1) to introduce students to general economic theory and its applications to social problems; and 2) to enable students to create a course of study consistent with their career goals, including graduate study, law, M.B.A. programs, and specific employment objectives.
This concentration focuses on the monetary and financial aspects of the economy. It is designed to acquaint students with the workings of financial institutions, the stock market, monetary and fiscal policy, and decisions involving government finance.
The intent of the concentration is to develop decision-making skills. Decision makers need to know methodological techniques involved in program evaluation, political and economic forces that shape decision environments, and ethical considerations.
Students should review requirements found in the Education section of the catalog and must consult with the appropriate advisor in the Department of Education. In addition, those desiring middle school licensure must take HIST 315 and complete requirements for a second area of licensure.
Declaration of Major in Economics
Declaring a major in Economics requires the student to complete a Declaration of Major form that must be signed by the department chair. Before declaring a major, students must satisfy the LANG 102 and Library Research requirements.
24 hours in Economics: ECON 101, 102; 18 additional hours in Economics, six of which must be at the 300 level or above. STAT 185 is recommended.
101 Principles of Macroeconomics (3)
A study of economic aggregates, including interaction of household, business, banking
and government sectors; problems of unemployment and inflation; and an introduction to
monetary and fiscal policy. Satisfies three hours of social science General Education requirement.
No credit given to students who have credit for ECON 201. Fall and Spring.
102 Principles of Microeconomics (3)
A study of markets and how prices and output are determined. Topics include market
structure analysis, input markets and public policy as it influences economic decisions. No credit given
to students who have credit for ECON 200. Fall and Spring.
210 Financial Markets and Institutions (3)
An economic analysis of the financial sector of the economy. Topics addressed include:
the structure, economic role and operation of major financial markets; the effect of
individual, business, government and financial institution decisions on prices and yields of financial
instruments; and the causes and consequences of financial innovation and deregulation. No
credit given to students who have credit for ECON 305 or equivalent. Fall and Spring.
215 Money and Banking (3)
A study of commercial banking, the Federal Reserve System, the United States Treasury,
how money influences the economy, demand for money and monetary policy. Prerequisite:
ECON 101. Fall and Spring.
250 International Economic Relations (3)
An introduction to international economics, with special attention to the history and politics
of international economic relations. Topics include basic trade theory and policy, exchange
rates, economic development issues, domestic and international political constraints on
international economic policy and selected current issues. Prerequisite: ECON 101 or 102. Fall.
261 U.S. Economic History (3)
An examination of the process of economic change in the United States. Course emphasis is
on the causes and consequences of economic growth. Topics include the economic causes of
the Industrial Revolution, the economics of slavery, the changing role of government and the
Depression of the 1930s. Prerequisites: ECON 101
or 102; or permission of instructor.
Satisfies three hours of social science General Education requirement. Even years Spring.
301 Intermediate Macroeconomics (3)
An extension of ECON 101, covering determination of aggregate economic
performance, theories of consumption, investment, national income and output determination, inflation
and unemployment. Macro-theory from classical to contemporary monetarist-fiscalist
analysis. Prerequisites: ECON 101 and 102; or permission of instructor. Fall and Spring.
302 Intermediate Microeconomics (3)
An extension of ECON 102, covering theories of consumer behavior, production and cost,
the firm and market organization, general equilibrium and economic welfare. Prerequisites:
ECON 101 and 102; MATH 163, 167 or 191; or permission of instructor. May be taken for credit
by students who have credit for ECON 302 (History of Economic Thought). No credit given
to students who have credit for ECON 300. Fall and Spring.
305 Private Finance (3)
Introduction to analysis of risks in financial decision making, innovations in financial
markets, determination of asset prices and yields, corporate equities, the stock market.
Prerequisites: ECON 102 (or higher); ECON 210 or MATH 155 (or higher); and junior-level status. Fall.
306 Managerial Finance (3)
An analysis of financial decision making of firms, covering ratio analysis, capital budgeting
and the management of funds. Prerequisite: ACCT 201; or permission of instructor. Fall and Spring.
310 Public Finance (3)
Topics including economic principles underlying government intervention in a
market economy; tax impact, shifting and incidence; theories of bureaucratic behavior; and the
economic impact of collective choice arrangements (e.g., majority voting). Prerequisite:
ECON 102; or permission of instructor. Fall.
312 Government, Industry and the Law (3)
This course uses economic principles and methodology to consider opposing views on
government regulation. Topics include business, environmental and consumer protection
regulation. Prerequisite: ECON 101 or 102. Even years Spring.
314 Economic Growth and Development (3)
An examination of the determinants, constraints and implications of economic growth
and development. The particular problems of low-income countries are explored, along with
historical examples of economic transformation. Political, social and economic factors are
considered. Prerequisite: ECON 101. Even years Spring.
316 Transaction Cost Economics (3)
An examination of the role played by transaction costs in the design and evolution of
human institutions. Applications drawn from economics, environmental science, management,
political science, and sociology show that many aspects of economic, political and social
institutions can be understood as outcomes of transaction cost economizing. Relies heavily on readings
from original sources. Prerequisite: ECON 101 or 102. Spring.
330 Labor Economics (3)
Application of economic principles to the analysis of labor markets. Includes analysis of
labor supply, labor demand, human capital, public policy and labor market operation. Other
topics may include economics of discrimination, impact of unions, comparative labor
movements, human resource policy, and pensions and Social Security. Prerequisite: ECON 101 or 102.
Even years Fall.
337 Environmental Economics and Policy (3)
An examination of economic and social costs/benefits of strategies to improve
environmental quality; sources of and solutions to pollution; environmental management; and the
relationships between economic growth and environmental quality. Prerequisites: ECON 102; ENVR 130;
or permission of instructor. Fall.
341 Benefit-Cost Analysis (3)
Introduction to techniques for evaluating government projects. Topics include measurement
of benefits and costs, and distributional consequences of policy. Interdisciplinary emphasis.
Energy and environmental examples. Prerequisite: ECON 102. Even years Spring.
345 Economics of Natural Resources (3)
This course will examine the economics of resource use, conservation, allocation, scarcity
and management for depletable and renewable resources. Topics such as economic growth,
market structure and government policies will be studied. Prerequisite: ECON 102 or permission
of instructor. Odd years Spring.
350 International Trade and Finance (3)
A survey of international economic theory, including trade, the balance of payments,
international currency and capital transactions, and exchange rate determination. Topics include
trade policy, exchange rate management, and open economy complications for domestic
economic policy. Prerequisites: ECON 101, 102; or permission of instructor. No credit given to
students who have credit for ECON 350 (International Trade) or ECON 351. Odd years Spring.
360 Mathematical Economics (3)
A study of mathematical techniques used in economic analysis. Prerequisites: ECON 101,
102; pre- or corequisite MATH 191. Even years Fall.
365 Econometrics (3)
An introduction to inferential statistics relevant to the discipline. Focus is on regression
analysis emphasizing the assumptions underlying the classical linear model. Prerequisites: ECON 101
or 102; STAT 185; or permission of instructor. Fall and Spring.
367 Statistical Proofs in Economics and Finance (1)
An examination of the theoretical basis of selected statistical formulas and concepts used
in economics and finance. Highly recommended for students interested in graduate school.
Prerequisite: ECON 365. On demand.
400 Internship (3)
Semesterlong internship with a participating host organization, usually in Western North
Carolina. Open only to students who have declared a major or minor in economics. Prerequisites:
15 hours of economics with a minimum grade-point average of 2.5 in those courses. (Grading
S/U.) See department chair.
406 Seminar in Financial Economics (3)
An application of financial theory to case problems. Emphasis on spreadsheets as
decision-making tools. Issues include leasing decisions, capital budgeting, stock vs. bond financing
and financial forecasting. Prerequisites: ACCT 201; ECON 306. Spring.
450 Seminar in Economics (3)
A critical examination of primary works that have figured in the development of
economic theory and policy. May be taken once or repeated with variable content for a total of six
hours. Prerequisite: ECON 301 or 302. Fall.
490 Senior Research Seminar (4)
A research seminar for seniors who apply economic theory and research tools learned in
prior courses to subjects of particular interest. Prerequisite: senior standing in the major or
permission of instructor. Fall and Spring.
171-6, 271-6, 371-6, 471-6 Special Topics in Economics (1-6)
Courses not otherwise included in the catalog listing but for which there may be special
needs. May be repeated for credit as often as permitted and as subject matter changes. On demand.
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