Economics

Department of Business Administration and Economics

The economics program is designed to help students understand the world they live in, analyze important social issues, and adapt to a changing economic climate.

Faculty

William F. O'Brien, Jr, Professor (1997), B.S. Worcester State College; M.A., Ph.D. Northeastern University

Bonnie Orcutt, Professor (2003), B.S. Worcester State College; M.A., Ph.D. Clark University

Wei Pang Lee, Professor (1992), B.A. Soochow University, Taipei, Taiwan; M.B.A. Northwest Missouri State University; Ph.D. University of Georgia

Elizabeth J. Wark, Professor (2007), B.A. Mount Holyoke College; M.B.A. University of Massachusetts; M.A., Ph.D. Clark University

Janice G. Yee, Professor (2007), B.A. University of Massachusetts, Dartmouth; M.A., Ph.D. Clark University

 

BA courses that will count towards the major or minor in Economics

Students pursuing a major or minor in Economics may elect to use ONE of the following BA courses to count towards their electives in the EC major/minor that may also count within the electives of the BA minor. (Note: There are 15 credits of electives in the EC major, 12 credits of electives in the EC minor, and 12 credits of electives in the BA minor.)

BA-316Financial Management3
BA-404Corporate Finance3
BA-415Investment Analysis3
BA-416Financial Markets and Institutions3

EC courses that will count towards the major in Economics and the minor in Business Administration

Students pursuing a major in Economics and a minor in Business Administration may use ONE of the following EC courses to count both within the 12 credits of elective courses for the BA minor AND within the 15 credits of electives for the EC major.

EC-205Money, Banking, and Monetary Policy3
EC-301Economic Development3
EC-307International Finance3
EC-308International Trade3

EC courses that will count towards the major in Business Administration and a minor in Economics

Students pursuing a major in Business Administration and a minor in Economics may use TWO of the following EC courses to count in both within the 12 credits of elective courses for the BA major AND within the 12 credits of electives for the EC Minor:

EC-205Money, Banking, and Monetary Policy3
EC-301Economic Development3
EC-307International Finance3
EC-308International Trade3

EC courses that will count towards the major in Business Administration

Students pursuing a major in Business Administration may use TWO of the following EC courses to count within the 12 credits of electives for the Business Administration major.

EC-205Money, Banking, and Monetary Policy3
EC-301Economic Development3
EC-307International Finance3
EC-308International Trade3

EC courses that will count towards meeting the requirements of the International Business concentration

A maximum of two of the EC courses listed below may be used.

EC-301Economic Development3
EC-307International Finance3
EC-308International Trade3

EC courses that will count towards meeting the requirements of the Finance Concentration

EC-205Money, Banking, and Monetary Policy3
EC-307International Finance3

BA courses and EC courses that will count towards meeting the requirements of a double major in Business Administration and in Economics

Students pursuing a double major in Business Administration and Economics may use:

TWO of the following EC courses to count within the 12 credits of elective (concentration) courses for the BA major, and

ONE of the following BA courses to count within the 15 credits of elective courses for the EC major.

EC-205Money, Banking, and Monetary Policy3
EC-301Economic Development3
EC-307International Finance3
EC-308International Trade3
BA-316Financial Management3
BA-404Corporate Finance3
BA-415Investment Analysis3
BA-416Financial Markets and Institutions3

EC-102 Consumer Economics

LASC Categories: ICW

An in-depth study of personal and family economics, obtaining income, buying wisely, consumer borrowing, saving, and financial investment; the consumer protection and consumer legislation movements will be specifically emphasized.

Every year. 3 Credits

EC-104 Personal Financial Planning

LASC Categories: ICW

An investigation of the major vehicles for personal savings; bonds, stocks, mutual funds, real estate, and retirement and estate planning.

Fall and Spring and every year. 3 Credits

EC-110 Introduction to Microeconomics

LASC Categories: HBS

An introduction to the operation of the American market system and to the behavior of its participants whether consumers, producers, the government, or other nations engaged in international trade with the United States.

Every year. 3 Credits

EC-120 Introduction to Macroeconomics

LASC Categories: HBS

An introduction to economic analysis with particular emphasis upon the national problems of achieving and maintaining full employment, general price stability, and growth of the American economy through time.

Every year. 3 Credits

EC-150 Statistics

LASC Categories: QR

Prerequisites: EC-110 or EC-120 and Accuplacer code of at least 4

Basic tools of statistical analysis appropriate to research in the social sciences; topics include measures of central tendency, hypothesis testing, time series, index numbers, regression, and correlation.

Every 2-3 years. 3 Credits

EC-193 First Year Seminar Economics

LASC Categories: FYS

Introductory level course covering topics of special interest to first year students. Offered only as a First Year Seminar.

Every year. 3 Credits

EC-200 Intermediate Macroeconomics

Prerequisites: EC-110 and EC-120

An intermediate analysis of the determination of the level and growth of national income and employment, special attention given to the problems of inflation and recession and to the national fiscal and monetary policies designed to maintain full employment and stable price levels.

Every year. 3 Credits

EC-201 Intermediate Microeconomics

Prerequisites: EC-110 and EC-120

An intermediate level treatment of the theory of market pricing in a private enterprise system as it affects the resource and output decision of firms and industries under various market structures and the behavior of consumers.

Spring only and every year. 3 Credits

EC-202 Introduction to Mathematical Economics

Prerequisites: EC-110, and EC-120 and MA-110 or MA-180 with a C- or above or Accuplacer code of 6.

A survey of some basic mathematical techniques appropriate to the anaylsis of economic models and application of economic theory.

Every 2-3 years. 3 Credits

EC-205 Money, Banking, and Monetary Policy

Prerequisites: EC-110 and EC-120

A study of the roles of money, depository institutions, and central bank monetary policy in maintaining stable growth of the American economy.

Every 2-3 years. 3 Credits

EC-206 Urban Economics

Prerequisites: EC-110 and EC-120

The theory and policy of the growth and development of metropolitan areas; some of the policy-related problems discussed are poverty, residential and commercial land use and traffic congestion.

Every 2-3 years. 3 Credits

EC-208 Economics of Health Care

LASC Categories: ICW, WAC

Prerequisites: EC-110 and EN-102

Introductory study of the health care industry of the United States; pricing of health care, manpower availability, alternative delivery systems, third party payments, and government role in planning, regulating, and financing health care.

Other or on demand. 3 Credits

EC-210 Current Economic Issues

Prerequisites: EC-110 EC-120

This course is designed to connect economic knowledge and theory acquired at the introductory level to current economic issues and policy. National and international topics of importance will be considered. For example, pollution, trends in productivity, profitability and distribution, debt and deficits, patterns of investment, trade, and globalization and the economic issues of race, gender and poverty may be covered.

Other or on demand. 3 Credits

EC-215 Labor Economics

Prerequisites: EC-110 EC-120

A study of the process of wage determination in a market economy, onsideration given to the evolution of union organization and collective bargaining affecting wages, hours, working conditions, and grievance procedures for labor.

Every year. 3 Credits

EC-301 Economic Development

Prerequisites: EC-110 and EC-120

A survey of contemporary economic theories concerning less developed countries; social, cultural, and political forces shaping the development of such countries are also investigated.

Other or on demand. 3 Credits

EC-304 Economics of the Environment

Prerequisites: EC-110 and EC-120

Methods of pollution control and the socio-economic problems caused by pollution, current research on ecology and economics, and the impact that limits on pollution may have on income and population growth.

Spring only and other or on demand. 3 Credits

EC-306 Introduction to Econometrics

Prerequisites: EC-110, EC-120 and MA-150 or EC-150

The application of statistical techniques to the verification of economic models and examination of economic problems.

Spring only and every 2-3 years. 3 Credits

EC-307 International Finance

Prerequisites: EC-110 and EC-120

Study of how international trade and investment is financed in a world of floating, fixed and managed exchange rate systems.

Fall and Spring. 3 Credits

EC-308 International Trade

LASC Categories: GP

Prerequisites: EC-110 and EC-120

Reasons why nations gain by spatial specialization and exchange with other countries. Analysis of the mechanism by which international equilibrium is restored. Study of trade and foreign exchange policies.

Every 2-3 years. 3 Credits

EC-309 Public Spending and Taxation

Prerequisites: EC-110 and EC-120

An analysis of government spending, revenue sharing, and taxation; includes the impact of government spending upon efficient use of resources and national growth.

Other or on demand. 3 Credits

EC-400 Independent Study in Economics

Prerequisites: EC-200 and EC-201.

For the student whose needs cannot be fully met by available offerings; actual arrangement to be made between student and professor; not intended for general enrollment; a limit of three credits can be acquired.

Fall and Spring and every year. 1-3 Credits

EC-402 Internship in Economics

Prerequisites: EC-200 and EC-201 or permission of instructor

Practical experience in economic analysis with industry and non-profit organizations and government agencies; internships may be of varying length.

Fall and Spring and every year. 1-12 Credits

EC-403 Selected Topics in Economics

Prerequisites: EC-200 and EC-201 or permission of instructor

Covers selected topics in economics of mutual interest to the student and faculty.

3 Credits

EC-408 Directed Study in Economics

Directed study offers students, who because of unusual circumstances may be unable to register for a course when offered, the opportunity to complete an existing course with an established syllabus under the direction and with agreement from a faculty member.

Fall and Spring. 1-3 Credits

EC-490 Capstone in Economics

LASC Categories: CAP

Prerequisites: EC-110 EC-120 EC-200 EC-201 or permission of instructor

Integrative capstone course in economics involving policy analysis and critical application of economic theories.

Every year. 3 Credits