ECONOMICS PROGRAM OVERVIEW

Economics provides a logical, ordered way of looking at problems, issues, and policies regarding the production, distribution and consumption of goods and services. It draws upon other social sciences and mathematics to confront a wide range of topics from environmental abuse to economic growth to business regulation and other governmental interactions with the commercial world. As economics in general deals with choice and decision making, it is of great value on both a personal and a professional level. Economics majors have a wide range of career choices, including government or business economist, banking economist, investment analyst, trade association economist and others.  Students who distinguish themselves by high scholarship may be elected to Omicron Delta Epsilon (ODE) a national economics honorary organization.

Major. Requirements for the major in economics may be fulfilled by completion of one of the following programs. Two of the four economics electives must be at the 300 level or higher. 

General Economics Major. A minimum of 27 credit hours in economics constitutes this major. Courses must include ECON 221, 222, 321, 322, and 325. In addition, either IDS 205 or MATH 240 is required.

 Economics and Computer Analysis Major. A minimum of 27 credit hours in economics is required. Courses must include ECON 221, 222, 321, 322, and 325. Computer science courses which must be completed are CS 157 and 325. Also required is a minor in mathematics including MATH (124, 131, or 151), (122, 132, or 152), 240 and 320 (or an approved alternative).

General Economics Minor. A minimum of 18 credit hours in economics constitutes a minor. Courses must include ECON 221, (222 or 223), one of (321,322, or 325) and one additional course selected from 300 or above.

ECON 136 and ECON 486 will not count towards fulfilling the minimum major or minor requirements. 

Degree. Completion of the degree requirements of the College of Arts and Sciences with a major in Economics leads to the Bachelor of Arts degree. Credit by Examination. Credit for ECON 221 and 222 may be earned through the College Level Examination Program subject examination in Introductory Economics.

Approval of Schedules. All students taking a major or minor in economics must have their schedules approved at the beginning of each semester.

VALPO ECONOMIC COURSES:  see general catalog http://www.valpo.edu/registrar/assets/pdfs/08catalog.pdf

ECON 136. The Economics of Health, Education, and Welfare. Cr. 3. This course is an introduction to the economics of public and private provision of health, education and social services in urban and developing economies. May be used to fulfill the Cultural Diversity course component of the General Education Requirements. ECON 136 will not count towards fulfilling the minimum major or minor requirements.

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ECON 210. Environmental Economics and Policy. Cr. 3. An introductory study of the relationship between environmental quality and economic behavior, with an emphasis on the principles of demand, costs, and economic efficiency. Current developments in the United States and world environmental policies will be analyzed. May be used in partial fulfillment of the Social Analysis component of the General Education Requirements.

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ECON 221. Principles of Economics-Micro.  Cr. 3. An introductory study of the central functions and problems of an economic system with emphasis on the determinants of consumer demand, producer supply and their interactions in the marketplace. 

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ECON 222. Principles of Economics-Macro. Cr. 3. An introduction to macroeconomic analysis with emphasis on national income, consumer spending, investment, government and monetary aspects.

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ECON 223. Principles of Economics-International.Cr. 3. An introduction to international aspects of economics with emphasis on international trade, international finance, comparative economic systems, and problems facing developing nations.

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ECON 233. The Economics of Race and Gender. Cr. 3. Investigates the employment gaps and earnings gaps that exist between women and men, and between various racial and ethnic groups in America. Economic analysis of discrimination and its consequences for individuals and families. May be used to fulfill the Cultural Diversity course component of the General Education Requirements.

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ECON 236. Comparative Economic Systems. Cr. 3. A comparative analysis of political theories and the economic systems that derive from those theories. The course focuses on those ideological assumptions that result in capitalism, socialism, anarchism, etc. as the solution to economic problems. Prerequisite: ECON 221 or 222 or ECON 223.

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ECON 290. Topics in Economics. Cr. 3. A course in which a special topic in economics is given intensive study. Topics descriptions and prerequisites will be announced in advance. May be repeated for credit if topics are different. Prerequisites vary depending on the topic chosen. 

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ECON 321. Intermediate Micro-Economic Theory. Cr. 3. A study of the theoretical concepts and analytical techniques which economists employ to interpret the process of resource allocation under various systems of economic organization. Prerequisite: ECON 221.

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ECON 322. Intermediate Macro-Economic Theory.  Cr. 3. A critical examination of theories of national income determination and of techniques for measuring and analyzing aggregate economic activity. Prerequisite: ECON 222 or ECON 223.

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ECON 324. Managerial Economics. Cr. 3. A course in applied economics which emphasizes the use of microeconomics, statistics and mathematics in the process of making managerial decisions. Using problems and short case studies, topics such as estimating demand, cost, productivity and pricing policies are discussed. Prerequisite: ECON 221.

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ECON 325. Econometrics. Cr. 3. The application of mathematical and statistical techniques to the analysis of economic issues. Development of simple and multiple regression as tools of analysis. Use of computer facilities and statistical programs to apply the tools to current economic data.  Prerequisites: ECON 221, (ECON 222 or 223), MATH 240 or IDS 205 or equivalent.

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ECON 326. International Economics. Cr. 3. A study of the basis for the gains from international trade including the effects of growth and development on a nation’s welfare. Attention is also given to the effects of tariffs and other restrictions to trade. Balance of payments accounting, foreign exchange markets and international monetary institutions are covered during the last part of the course. Prerequisites:  ECON 221 and (ECON 222 or 223).

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ECON 330/530. Industrial Organization. Cr. 3. The analysis of the economic factors underlying the structure, conduct and performance of American industry. Prerequisite: ECON 221.

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ECON 333. Economics of Labor. Cr. 3. The approach of workers and employers to the problems of labor; the development of trade unions and collective government regulation of labor relationships, and an economic analysis of wage-employment problems. Prerequisite: ECON 221.

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ECON 335/535. Urban Economic Problems.  Cr. 3. An examination of the regional and spatial characteristics of cities with emphasis on policies to correct urban problems.  Transportation, housing, poverty and discrimination plus other substantive urban problems are analyzed and discussed.  Prerequisite: ECON 221.

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ECON 336/536. Economics of Developing Nations.Cr. 3. An analysis of economic variables, both theoretical and institutional, which characterize developing nations. Emphasis is placed on cyclical poverty, allocation of resources and policy planning. Prerequisite: ECON 221 or 222 or 223, and junior standing. May be used to fulfill the Cultural Diversity course component of the General Education Requirements.

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ECON 337/537. Public Finance.Cr. 3. An analysis of the role of the government sector in a market economy. Causes of market failure, the efficient provision of public goods and the effects of taxation are considered as they relate to economic activity. Prerequisite: ECON 221 or 222 or 223.

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ECON 339/539. Money and Banking. Cr. 3. A study of the institutions, principles and problems of money and banking in the United States. Special attention is given to the basic elements of monetary theory and policies. Prerequisite: ECON 222 or 223.

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ECON 370. The History of Economic Thought. Cr. 3. Economic thought in its historical development from the Mercantilists to the present day. Prerequisite: ECON 221 or 222 or 223.

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ECON 390/590. Topics in Economics. Cr. 3.  A course in which a special topic in economics is given intensive study.  Topics, descriptions, and prerequisites will be announced in advance. May be repeated for credit if topics are different.  Prerequisites:  ECON 221 and 222.

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ECON 486. Internship in Economics. Cr. 1-3. Direct, supervised experience in a cooperating business, government agency or service agency requiring the use of a student's economics knowledge. Some internships are in conjunction with off-campus programs such as the Washington Semester Program. Prerequisite: consent of the Chair of the Department. ECON 486 will not count towards fulfilling the minimum major or minor requirements.

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ECON 493. Seminar in Applied Statistics. Cr. 3. (Also offered as IDS 493 and as MATH 493.) An intensive study of selected topics, methods, techniques, and problems in applied statistics. Prerequisites: IDS 340, ECON 325, or MATH 340.

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ECON 495. Independent Study in Economics. Cr. 1-3. Independent study to be approved by the Chair and the economics advisor.

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ECON 497. Honors Work in Economics. Cr. 3. See Honors Work, page 54.

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ECON 498. Honors Candidacy in Economics. Cr. See Honors Work, page 54.

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