2018-2019 Undergraduate Catalog [Archived Catalog]
Economics
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David Andrews, Chair
431B Mahar Hall
315-312-2175
www.oswego.edu/economics
Directory of Professors
A background in economics is essential to understanding how the world works. As the social science that deals with markets, money, and the creation of income and wealth, economics has much insight to lend regarding business, the economy, household behavior, investment, and current and historical events. Ecomonics is a rewarding major on many levels: it is interesting and challenging, highly demanded by employers, and highly respected by graduate schools, law schools, and business schools.
The Bachelor of Arts degree program in Economics combines training in technical economics with opportunities for a broad and balanced undergraduate education. Students may select courses that emphasize the relation of business to economics, courses that focus on the U.S. and international economy, courses in mathematical economics, and courses that relate economics to history and philosophy. The successful completion of the degree prepares students for careers in business, government, consulting, teaching, and research, as well as further study in economics, industrial relations, business administration, law, and related fields.
The aims of the degree program are threefold: to give students a firm grounding in modern economic theory, to provide a basic descriptive knowledge of the U.S. and world economy, and to develop in students the capability for quantitative research and independent thought. The requirements allow substantial freedom for students both in designing individual programs within economics and in balancing the programs with subjects in other disciplines.
An advisement brochure is available from the Economics Department upon request.
The Economics Department cosponsors the following interdisciplinary program:
International Trade Concentration
The international trade concentration is an interdisciplinary program designed for students contemplating a career in international trade. The objectives of the program are (1) to give students a thorough knowledge of the language and people of another country; and (2) to equip them with skills to find employment in the international sector. Two departments participate in this program, Modern Languages and Literatures, and Economics. The International Trade Concentration is available to students majoring in either of these areas. In addition to meeting the major requirements, economics majors must take twenty-four hours in one foreign language, or twelve hours each in two different foreign languages. Language majors must take twenty-four hours in economics, including ECO 101 and ECO 200 . The remaining courses in economics must be selected under advisement by the Economics Department.
Major
Minor
Honor Requirements for Major
Economics
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ECO 101 - Principles of Microeconomics
2018-2019 Catalog Year:
This course provides an introduction to the theory and practice of micro-economic analysis. Topics discussed in this course include: demand and supply analysis, consumer behavior, elasticity, production and cost theory, price and output determination under alternative market models, and resource markets.
Offered: Fall, Spring
Credit: 3 -
ECO 120 - Survey of Economic Issues
2018-2019 Catalog Year:
This course provides an overview of key economic concepts and an introduction to economic reasoning. The course material will include concepts and models from both microeconomic and macroeconomic theory: scarcity, choice and opportunity cost, supply and demand, the behavior of the consumer and final, inflation, unemployment, the business cycle, money, economic growth, and government policy decisions. This course is designed to provide a basic understanding of economics for nonbusiness/noneconomic majors, or a foundation for further study for undecided majors considering economics.
Offered: Not on a regular basis
Credit: 3 -
ECO 200 - Principles of Macroeconomics
2018-2019 Catalog Year:
This course introduces students to economics and the central topics of macroeconomics: output determination, unemployment and inflation, money and banking, fiscal and monetary policy, international trade, exchange rates and the balance of payments.
Offered: Fall, Spring
Credit: 3 -
ECO 300 - Intermediate Macro Theory
2018-2019 Catalog Year:
Aggregate economic analysis of measurement and determinants of the level of economic activity based on both Keynesian and classical assumptions, and growth, fluctuations and control of economic activity.
Prerequisite: ECO 101 and 200.
Offered: Fall, Spring
Credit: 3 -
ECO 301 - Intermediate Micro Theory
2018-2019 Catalog Year:
Demand theory, production theory, price and output determination under conditions of perfect and imperfect competition, demand for factors of production, welfare economics and general equilibrium analysis.
Prerequisite: ECO 101 and 200.
Offered: Fall
Credit: 3 -
ECO 302 - Managerial Economics
2018-2019 Catalog Year:
Economics is concerned with the application of economic concepts and principles to managerial decision making problems. The course begins with a review of economic models and the basics of marginal analysis. Then, along with the theory of consumer behavior and the theory of the firm different methods of optimization such as linear programming are discussed. A portion of the course is devoted to the discussion of various forecasting methods.
Prerequisite: ECO 101 and 200.
Offered: Fall, Spring
Credit: 3 -
ECO 305 - Topics in Economics
2018-2019 Catalog Year:
This course is designed to give students exposure to a particular topic or a limited number of topics not otherwise offered in the curriculum. Topics are chosen by the instructor. This course may be repeated for credit if topics differ.
Prerequisite: ECO 101 and ECO 200, or instructor permission
Offered: Not on a regular basis
Credit: 3 -
ECO 311 - Mathematical Economics
2018-2019 Catalog Year:
An introduction to linear and matrix algebra, graphic representation, differential and integral calculus with the corresponding economic applications.
Prerequisite: ECO 101, 200, and MAT 210.
Offered: Not on a regular basis
Credit: 3 -
ECO 312 - Introduction to Econometrics
2018-2019 Catalog Year:
A study of econometric methods of formulating, estimating, and interpreting single and simultaneous equation economic models.
Prerequisite: ECO 101, 200, and MAT 158.
Offered: Spring
Credit: 3 -
ECO 320 - Comparative Economic Systems
2018-2019 Catalog Year:
An approach to contemporary economic systems that focuses on capitalism, anarchism, and socialism. The basic economic theories of American capitalism, Soviet communism and Yugoslavia socialism will be studied. A final section of the course will cover the economics of transition to a market economy.
Prerequisite: ECO 101 and 200.
Offered: Not on a regular basis
Credit: 3 -
ECO 322 - History of Economic Doctrines
2018-2019 Catalog Year:
A survey of the development of economic theories. The relationship between economic thought, contemporary philosophy and economic conditions.
Prerequisite: ECO 101 and 200, or instructor permission.
Offered: Spring
Credit: 3 -
ECO 326 - American Economic History Before 1900
2018-2019 Catalog Year:
This course considers pre-twentieth century United States history from an economic perspective. In addition to detailing the evolution of the American economy and its political and social relevance, the course provides and economic-based narrative of based episodes in American history, including the American Revolution, slavery, the Civil War, and labor and farmer protest movements. We will employ basic microeconomic and macroeconomic tools, as well as historical sources, in analyzing and seeking explanations of historical events and outcomes.
Prerequisite: ECO 101 and 200.
Offered: Fall
Credit: 3 -
ECO 327 - Issues in American Economic History Since 1900
2018-2019 Catalog Year:
This course deals with 20th century United States economic history, in particular the evolution of the economy itself and the competing claims of various economic interest. We will cover a limited set of issues, such as the economic causes and consequences of the Great Depression and major wars, and the responses of American businesses and policymakers to those shocks. We will study these issues from a variety of perspectives: economic, historical, political, and literary. We will also study important economic trends and developments, along with the material progress of key subgroups such as blue-collar workers, women and African-Americans.
Prerequisite: ECO 101 and 200 and upper division standing, or instructor permission.
Offered: Not on a regular basis
Credit: 3 -
ECO 330 - Economic Development
2018-2019 Catalog Year:
An examination of theories and processes of economic development in underdeveloped nations using a multidisciplinary approach. Each section of the course will emphasize the economic development problems of a specific geographic region to be determined by the instructor. The regions include: Northern Africa and the Middle East, Sub-Saharan Africa, Southern and Southeast Asia, and Central and South America. Methods of analysis drawing from economics, political science, history, demography, and economic geography are employed.
Prerequisite: ECO 101 and 200.
Offered: Fall, Spring
Credit: 3 -
ECO 340 - Money and Banking
2018-2019 Catalog Year:
This course introduces some basic concepts, theories, and issues in the field of money and banking. It provides a general framework for studying financial intermediaries and financial markets. It deals with the structure and management of the commercial banking industry and with the workings of central banking and monetary management in the U.S. It discusses the international monetary relations and analyzes monetary theory and policy.
Prerequisite: ECO 101 and 200.
Offered: Fall, Spring
Credit: 3 -
ECO 341 - The Political Economy of Financial Crises
2018-2019 Catalog Year:
This course deals with financial crises, particularly those affecting the United States and with special emphasis on the most recent crisis. We will study their causes, policy responses, and consequences, from the perspectives of economists, political scientists, and historians, as well as journalists, finance professionals, and others.
Prerequisite: ECO 101 or 115 or 120 or 151 or 200, or instructor permission.
Advisement recommendation: Completion of all General Education Basic Skills and Knowledge Foundations courses.
Offered: Not on a regular basis
Credit: 3 -
ECO 343 - International Finance
2018-2019 Catalog Year:
International finance, or international macroeconomics, is the study of international exchange of financial assets. It is primarily concerned with the financial aspects of economic relationships among nations. In addition to the balance of payments, exchange rates, and exchange rate systems, issues concerning international banking and international debts are among the topics addressed in this course. Also discussed in the course are the macroeconomic implications of international economic relations, the evolution of international monetary system, and the roles of international monetary and financial organizations (e.g., the International Monetary Fund) in the world’s economy.
Prerequisite: ECO 101 and 200.
Offered: Not on a regular basis
Credit: 3 -
ECO 344 - International Trade
2018-2019 Catalog Year:
The theory of international trade (comparative advantage and the gains from trade in the classical and neoclassical models; distributional consequences of trade); alternative explanations for trade (resource endowments, technological gaps, economies of scale, product differentiation, location); analysis of commercial policy (tariffs, quotas, and other forms of intervention); preferential trading arrangements (free trade areas, customs unions, economic unions).
Prerequisite: ECO 101 and 200.
Offered: Fall
Credit: 3 -
ECO 345 - International Monetary and Financial Management
2018-2019 Catalog Year:
The study of the international monetary and financial structure, covering topics such as the balance of payments, foreign exchange, alternative international monetary systems, and multinational enterprises.
Prerequisite: ECO 200.
Offered: Not on a regular basis
Credit: 3 -
ECO 349 - Economics of Education
2018-2019 Catalog Year:
This course will focus on utilizing economics tools and statistical inference in analyzing various aspects of the economics of education, as well as develop skills to interpret and critically assess educational processes and policies from the standpoint of an economist.
Prerequisite: ECO 101 and ECO 200.
Offered: Not on a regular basis.
Credit: 3 -
ECO 350 - Introduction to Labor Economics
2018-2019 Catalog Year:
This course provides an introduction to the theory and practice of modern labor economics. Topics discussed in this course include: the determinants of labor demand under alternative market structures, the determinants of labor supply, wage determination under alternative market models, the economic effects of labor unions and minimum wage laws, compensating wage differentials, the economics education, and the economics of discrimination.
Prerequisite: ECO 101 and 200.
Offered: Fall, Spring, Summer
Credit: 3 -
ECO 355 - Labor Law
2018-2019 Catalog Year:
This course traces the evolutionary development of law as it pertains to labor relations, primarily at the national level, from the beginning of the nineteenth century to the present.
Prerequisite: ECO 101 and 200.
Offered: Not on a regular basis
Credit: 3 -
ECO 370 - Public Finance
2018-2019 Catalog Year:
An examination of government fiscal participation in a market economy. Theoretical and empirical results on government expenditures and taxation policies are examined with specific consideration given to the efficiency and equity consequences of these policies.
Prerequisite: ECO 101 and ECO 200.
Offered: Not on a regular basis.
Credit: 3 -
ECO 378 - Health Economics
2018-2019 Catalog Year:
Economics issues involving the delivery of health care, and the organization of health-care markets. Topics include the demand for, and supply of health-care and health insurance, alternative delivery systems, reimbursement, government regulation, and government sponsored health care programs.
Prerequisite: ECO 101 and 200.
Offered: Not on a regular basis
Credit: 3 -
ECO 380 - Industrial Organization
2018-2019 Catalog Year:
Analytic discussion of the structural and behavioral variables of industrial firms in a market economy. The evaluation of resource allocation efficiency, technological change and distributive equity under conditions of competition, oligopoly, and monopoly.
Prerequisite: ECO 101 and 200.
Offered: Not on a regular basis
Credit: 3 -
ECO 390 - Environmental Economics
2018-2019 Catalog Year:
Economic issues in the control of pollutants, conservation, land use, energy production and other current environmental problems. Emphasis ill be placed on the application of economic theory to the evaluation of various policy alternatives.
Prerequisite: ECO 101 and 200.
Offered: Not on a regular basis
Credit: 3 -
ECO 396 - TA in Economics
2018-2019 Catalog Year:
This course gives students the opportunity to learn about how college level courses are run, to practice peer instruction, and reflect on effective pedagogies and how learning happens. Students will assist faculty as teaching assistants in a specific economics course, running review sessions and holding office hours for tutoring, attending class to assist with in-class activities, and assisting with examination proctoring. Through these activities, students improve their content understanding, consider best practices in course management, and reflect on the learning process overall.
Note: May be repeated for total of six credits.
Prerequisite: Minimum sophomore standing, ECO 101 and 200, cumulative GPA of 3.0 or higher and instructor permission.
Offered: Not on a regular basis.
Credit: 3 -
ECO 399 - Independent Study
2018-2019 Catalog Year:
Individual readings and research projects under the direct supervision of a member of the economics staff.
Note: Variable credit zero to 12, may be repeated fives times for a total of 12 credits.
Prerequisite: A minimum of nine hours in economics, upper division standing, minimum 3.0 GPA and permission of the department.
Offered: Not on a regular basis.
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ECO 405 - Seminar in Economic Theory and Policy
2018-2019 Catalog Year:
A survey of select topics in advanced microeconomic and macroeconomic theory.
Prerequisite: ECO 300 and 301, or instructor permission.
Offered: Not on a regular basis
Credit: 3 -
ECO 409 - Mathematical Economics Problem Seminar
2018-2019 Catalog Year:
A seminar for advanced students who wish to apply in detail particular aspects of applied mathematical economics. Emphasis is on in-depth analysis on such problems as mathematical applications of macroeconomic theory, microeconomic theory and economic dynamics.
Note: Not open for math credit for math majors or secondary education math concentrations.
Prerequisite: ECO 101 and 200 and either MAT 208 OR 210, or instructor permission.
Equivalent Course: MAT 409
Offered: Spring
Credit: 3 -
ECO 498 - Internship in Economics
2018-2019 Catalog Year:
A course for upper division students who wish to undertake a semester long internship designed to provide a pre-professional experiential learning opportunity related to the theory and practice of economics. Students will work full or part time in a position which provides an opportunity to apply knowledge acquired in the classroom in an approved internship setting.
Note: The credits received from this course will not satisfy economic elective requirements. Variable credit zero to 12, may be repeated for total of 12 credits.
Prerequisite: Completion of sixty (60) semester hours of academic course work; a minimum overall grade point average of 2.5; approval of the internship position by the faculty sponsor and departmental approval; and acceptance into the EXCEL Program.
Offered: Not on a regular basis
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ECO 499 - Independent Study in Economics
2018-2019 Catalog Year:
Individual study in the field of economics under the direct supervision of a department faculty member.
Note: Variable credit zero to twelve, may be repeatable for a total of 12 credits.
Prerequisite: A minimum of fifteen hours in economics, a minimum cumulative GPA of 3.0 and instructor approval.
Offered: Not on a regular basis
Credit: 3
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