Economics and Finance

Course Descriptions

ECON 212 Introduction to Macroeconomics

3 credits; 3 class hours

Elementary macroeconomic analysis dealing with factors that determine the general level of prices, production, employment, income, and consumption in the economy as a whole, with special reference to the United States and other market economies. Such topics as inflation, recession, and public policies used to combat them are studied. Problems of unemployment and economic problems of the minority population will also be discussed.

Pre-requisites: MTH 141 and ENGL 150

ECON 213 Introduction to Microeconomics

3 credits; 3 class hours

Elementary analysis of markets, market structures, consumer demand, and market price determination. Other topics include production and cost analysis, output and price determination by firms, market failures, government intervention and regulations and their impact on the functioning of markets. Applications to poverty, international trade, and income distribution will be covered.

Pre-requisites: ECON 212 and MTH 141

ECON 302 Urban Economics

3 credits; 3 class hours

This course will analyze the problems of the urban economy with emphasis on re-source allocation, the delivery of services, and the impact of national and regional policies on housing, transportation, pollution, poverty, racism, and discrimination.

Pre-requisite: ECON 213

ECON 303 Theory of Economic Development

3 credits; 3 class hours

The theory of the economic development of national economics and economic regions, implications for community (non-economic) regional development, and characteristics of capitalist and socialist development are explored.

Pre-requisite: ECON 213

ECON 305 Labor Economics

3 credits; 3 class hours

An economic analysis of labor markets in theory and practice with special emphasis on the manpower problems of minorities. Topics such as minimum wage legislation, un-employment, and labor unions will be covered.

Pre-requisite: ECON 213

ECON 307 Intermediate Microeconomic Analysis

3 credits; 3 class hours

This course considers in depth the determination of prices of commodities, and factors of production. The course also discusses optimal resource allocation by firms, house-holds, and other microeconomic entities. Such topics as utility and output maximization, cost minimization, market structures and government regulations and their impact on economic decision-making are studied.

Pre-requisite: ECON 213

ECON 309 Intermediate Macroeconomic Analysis

3 credits; 3 class hours

Discussions of the theories of aggregate income and employment. Emphasis is on the analysis of fiscal and monetary policies, and their implications for the rate of growth, output, employment, and the price level.

Pre-requisite: ECON 213

ECON 311 Mathematical Economics

3 credits; 3 class hours

Mathematical principles from calculus are used as the principal tool in the study of economic theory. Such topics as univariate and multivariate differentiation, con-strained and unconstrained optimization, and integration, are applied to the study of consumer utility functions, expenditure, cost and profit functions, market supply and demand, market structures, macroeconomic equilibrium, aggregate supply and demand, monetary theory, and balance of payments.

Pre-requisites: MTH 241 and ECON 213

ECON 316 Business and Economics Statistics I

3 credits; 3 class hours

An introduction to applications of the methods of statistical inference and decision theory to the analysis of problems in economics, finance, accounting, marketing, and management. Methodological emphasis will be to show how the methods of summary descriptive measures, sampling procedures, hypothesis testing, the design of experiments, and elements of decision theory are applied to concepts from business management, economics, and general administration.

Pre-requisites: ECON 213 and MTH 141

ECON 330 Global Trade and Political Economy

3 credits; 3 class hours

This course interdisciplinary and focuses on the interplay between politics and economics. It will begin by discussing and explaining classical areas of international areas trade, monetary and fiscal policies, foreign direct investment(FDI) and economic development. The course will then address how domestic and international political dynamics affect trade policies both in the USA and foreign countries. Notwithstanding political resistance to free trade economies, this course will explain why countries still find trade essential. While economic theory would lead us to believe that free trade is ideal, this course will explain why there is resistance to free trade domestically and around the world. The paradox of resistance to trade and its essence will be illustrated and discussed by reference to far reaching influences of bodies and organizations that facilitate trade, such as Multinational Corporations, IMF, World Bank, the World Trade organization (WTO) and regional cooperation agreements such as NAFTA, ECOWAS, OECD, the European Union and others. The role of organized labor and industry associations and other pressure groups will be discussed in historical context.

Pre-requisite: SSC 101 or ECON 212

ECON 333 International Economics

3 credits; 3 class hours

Introductory course in the analysis of international resource flows, including commodities and factors of production. The topics of interest include commercial policies, tariffs, transportation, balance of payments, microeconomic implications of balance of payments, exchange rates, multinational companies, and multilateral international institutions.

Pre-requisite: ECON 213

ECON 350 Money and Banking

3 credits; 3 class hours

This course covers the study of money, credit and banking in the US economy covering the impact of money on interest rates, asset prices, consumption, investment, and national income. Topics include federal instruments for controlling money and economic activity; the structure of the banking system; functions of money; the supply and demand for money; and monetary reserves. Keynesian and monetarist theories and policy recommendations are also studied.

Pre-requisite: ECON 213

ECON 356 Business and Economic Statistics II

3 credits; 3 class hours

It will cover additional topics on the applications of statistical techniques in the analysis of business, economic, and other administrative kinds of decision making. Topics of interest include analysis of variance, X2 tests, quality control, extensions of simple and multiple linear regression, and their applications to decision analysis.

Pre-requisite: ECON 316

ECON 370 Managerial Economics

3 credits; 3 class hours

This course will cover applications of the principles of micro economics in managerial analysis and decision making. Topics covered include the economic foundations of the firm, determination of the value of the firm, analysis and estimation of demand, cost analysis and estimation. Other topics are production functions, pricing practices and output determination in different industrial structures, cost-profit-volume analysis, optimization models, industrial regulation, and capital budgeting.

Pre-requisite: ECON 213

ECON 401 Economics Internship

3 Credits; 3 class hours

This course provides the student an opportunity for practical experience in a professional, Economics Analysis/Project Analysis-related work setting in Economics. The Internship must be related to a subject area studied by the student and cannot be Stu-dents are expected to work at least a total of 60 hours over a 12 week period and submit a final report of their experiences. A report is also expected of their supervisors. The supervisor’s report will include completion of a survey form designed by the faculty of Economics and Finance. Students may be required by the faculty to complete additional readings in the area of work during the Internship. 

Pre-requisite: ECON 307 or ECON 309

ECON 430 War on Drugs: History, Economics & Public Policy

3 credits; 3 class hours

In this course, students will study government policies to fight illicit drugs. Specifically, the course uses the history, economics, and politics of opium and cocaine to bring interdisciplinary studies to the classroom. It will involve a comparative examination of many aspects of historic and contemporary drug policies in the U.S. and in other countries worldwide especially where usage and supply and demand are concerned. This course will cover both how culture affected the use of drugs and attitudes toward them and how it serves as key to the changing intellectual, social, economic, and political landscape worldwide.

Pre-requisite: SSC 101

ECON 451 Public Finance

3 credits; 3 class hours

This course will present an analysis of the theory and practice of public finance, including taxation, revenues, and expenditures, debt management and public policies.

Pre-requisite: ECON 213

ECON 452 Benefit Cost Analysis

The tools of economics are applied to the evaluate public-sector practical problems. Standard microeconomic analysis is reformulated to allow for public goods and externalities, with an emphasis on issues such as "optimal" pollution choice, environmental resource use and conservation, development of health facilities, housing regulation, housing projects or design health insurance benefits, highway construction projects, safety regulations and investment in higher education. Students will learn the theoretical foundation of cost-benefit analysis, including strategies for valuation, discounting (NPV, IRR), measuring equity, and addressing risk and uncertainty. Emphasis is on the measurement of benefits and costs when evaluating public projects, programs or regulations. Students will also learn how policy makers and non-government organizations can use the technique to allocate resources and evaluate programs in many sec-tors.

Pre-requisite: ECON 451

ECON 455 International Finance

3 credits; 3 class hours

This course will present a study of the theories, mechanics, and institutions of international finance. The role of the International Monetary Fund, The World Bank, and The International Finance Corporation in stabilizing and financing world trade are re-viewed.

Pre-requisite: ECON 333 or BUS 301

ECON 474 Econometrics and Forecasting

3 credits; 3 class hours

This course studies applications of the methods of regression analysis, and time series forecasting techniques in the estimation of economic and decision-making parameters, and economic forecasting. Emphasis will be on decision making applications such as, cost estimation and forecasting of demand and supply, production functions, and macroeconomic variables.

Pre-requisite: ECON 316

ECON 498 Economics Seminar

6 credits; 6 class hours

This course will cover selected topics in economic analysis. This course is designed to give students the opportunity to further explore topics or subject areas in economic analysis. Students are expected to complete applied problems, and complete simple research projects and discuss contemporary economic and business problems.

Pre-requisite: ECON 316 or ECON 474

ECON 500 Independent Study

3 credits; 3 class hours

This course provides exceptional students with an opportunity to conduct research in an area of special interest. Usually, only senior level students are admitted to this course.

Pre-requisite: Permission of chairperson

FIN 250 Introduction to Business Finance

3 credits; 3 class hours

An introduction to the principles and practices of financial analysis for the management of the modern business firm. Particular emphasis is placed on the conceptual foundations of financial decision making, time value of money, analysis of financial statements, analysis of the financial needs of the firm, acquisition and management of funds, especially short term funds, and the elements of long term capital management.

Pre-requisites: ACCT 217 and ECON 212

FIN 304: Introduction to Real Estate Finance

3 Hours 3 Credits

This course introduces the student the US Residential Real Estate Financial Markets and processes. It begins with a discussion of the Legal and Economic Environment of Real Estate market. It proceeds to study of the determinants of real estate values. Other topics include the primary and secondary money markets, sources of mortgage loans, federal government programs, loan applications, processes and procedures, alternative financial instruments and applicable laws affecting mortgage lending, including laws equal credit opportunity laws, Community Reinvestment Act.

Pre-Requisite: FIN 250

FIN 325 Corporate Finance

3 credits; 3 class hours

An intermediate course in financial analysis for the management of corporations. Emphasis will be on obtaining and managing long term capital. Topics of interest include risk analysis, discounted cash flow for capital budgeting, capital structures, and security valuation. Computer based models for financial analysis will be introduced.

Pre-requisites: FIN 250 and ECON 316

FIN 343 Money and Capital Markets

3 credits; 3 class hours

This course studies the functions of financial institutions and markets in the U.S. economy; the determination of interest rates, stock prices, bond prices; how money and capital markets facilitate the conduct of business in the free market economies. Topics include the role of depository and other financial institutions in allocating funds to households, business and government borrowers. Regulation and deregulation of financial markets, the bond markets, the stock market, commercial paper, and the role of investment bankers.

Pre-requisite: FIN 250

FIN 352 Investment Analysis

3 credits; 3 class hours

A study of the investment process, including the investment markets, portfolio analysis and management, investment vehicles, and regulations. Topics of interest will include financial statement analysis, the economic environment, bond and stock valuation, mutual funds, convertibles, risk analysis, and commodity markets.

Pre-requisite: FIN 250

FIN 452: Analysis of Fixed Income Securities

3 Class Hours 3 Credits

Analysis of fixed-income markets, especially bonds and other securities that promise a fixed income stream and all related securities whose valuation are influenced by interest rates. The course will also be studied. Valuation of contingent claims; interest rate risk, term structure, product fundamentals, and bond portfolio strategies. Special attention will be paid to the relationship between the price of a bond, measures of return on the bond and measures of risk; the various sectors of the bond market, the types of securities traded and the risks involved in each sector.

Pre-requisite: FIN 325

FIN 456 Multinational Financial Management

3 credits; 3 class hours

A study of the process of corporate financial management in an international environment. All the basic elements of corporate finance are studied. The additional complexities arising from the international business and economic environment are introduced to show how they affect corporate financial decisions.

Pre-requisites: FIN 325 and ECON 333

FIN 457 Banking Practices

3 credits; 3 class hours

This course will cover the operation of banking institutions, particularly commercial bank practices, reserves, loan mechanics, and the consideration of the investment pol-icy, in addition to liquidity, capital structure and stability.

Pre-requisite: FIN 250

FIN 458 Financial Management

3 credits; 3 class hours

This is an integrative capstone course applying various tools of analysis from finance, management, statistics and economics in financial decision making and policy. Emphasis will be on integrating the concepts and techniques from earlier courses in finance. Case analysis will be the preponderant mode of instruction. However, contemporary theories of financial management will be studied concurrently.

Pre-requisite: FIN 325

FIN 459: Real Estate Investment Analysis I

3 Class Hours 3 Credits

This course is an introduction to the dynamics of real estate investment; the systematic analysis of potential real estate investments. The primary focus will be estimating the appropriate purchase price of a desired property. Topics covered will include feasibility and site analysis; tax considerations; income and expense analysis; introduction to discounted cash flow analysis for real estate investments; profitability measurement; and forms of ownership.

Pre-requisite: FIN 304

FIN 469: Real Estate Investment Analysis II

3 Class Hours 3 Credits

This course will study the factors that determine the investment returns and value of real estate vs. alternatives. Topics covered include advanced methodologies for appraising income-producing properties, risk and return for single properties and in a portfolio context of properties, extensions of the Discounted Value Cash Flow, Federal Laws affecting Mortgage Banking and Equal Opportunity will be studied.

Pre-requisite: FIN 459

FIN 474: Computer Modeling in Finance

3 Class Hours 3 Credits

Development of computer modeling skills and techniques for the analysis of financial statements, forecasting, capital budgeting, and investments. Emphasis will be on practical applications thorough understanding of quantitative models in finance using various sources and uses of financial data, financial information resources, and technology.

 

Pre-Requisite: FIN 325

FIN 500 Independent Study

3 credits; 3 class hours

This course provides exceptional students with an opportunity to conduct research in a specific area of finance.

Pre-requisite: Department permission required, usually only senior level students are admitted to the course.